Solving Tomorrow's Challenges - Today

Prevention is Better Than the Cure

What Were The Mistakes?

The top 10 project implementation mistakes as defined by the management of the bank in descending order of importance are shown below:
  1. Insufficient training
  2. Cheap, inexperienced resources
  3. Failure to have proper testing processes
  4. The business was kept at a distance to the project
  5. No clear business plan and defined outcomes
  6. Changing the new software to work like the old software
  7. Poor executive level involvement
  8. Handing over too much of the project to consultants
  9. Lack of communication with the various stakeholders
  10. No change management of the bank for after the project was due to go live.

When A Bank Software Upgrade Project Takes Twice As Long As Planned, We Ask Why

Hindsight is always a great thing to have, that is if you are not adversely impacted by the outcomes.
In a recent engagement Ludshott was asked to support the Non-Executive Directors of a major bank to enable them to ask the right questions of the management of their bank to ensure that they were able to understand the risk of upgrading their core banking system. This occurred half way through the period originally set aside for the total project to be completed. The feedback was that the answers they were receiving were valid - it was just that they were too specific and did not provide the full picture of the project and thus the scope of the risk.  The challenge was that there were too many unaddressed areas such as communication, post project HR organisation, end user training as well as areas where cost was addressed but not the value. The result was a fundamental reassessment of the project and a delayed Go Live so as to ensure that the risk of failure was minimised and that the project was going to enhance rather damage the bank's reputation - a topic of vital importance to the Non-Executive and Executive Board members. 
The Outcome
By ensuring the project team were trained to adequately understand what the upgraded system could offer the bank, as well as how it differed from their existing business practices, then they were better able to understand what they needed to change. They were also able to develop a better plan for the project rollout and what  they needed in terms of specialist outside support. The project team were able to take control themselves, own the outcomes, communicate the risks and engage with the Board of the bank. The result was a better informed and engaged organisation with the ability to control the costs and risks.