The paper "Quantum Bank Project Management" is a perfect example of a management case study. It is evident from the case that Quantum Bank is facing competition in the industry from traditional and non-traditional organizations. There is a proposal for digital migration where most of the transactions will be done online through the bank’ s Web. These transactions include online bill payment services which will allow customers to apply for credit cards, loans open accounts and manage their investment portfolios. All these transactions are expected to be done through an online platform. Coming up with a Website that will manage all these transactions is considered a project management concern.
This is considered as a project to be implemented since it has three defining characteristics which include: Established objective-To increase the competitiveness in the industry and meet the financial objectives of the bank through customer focus strategy. Requires integrated participation in the organization. Digital migration is something that has not been done before in Quantum Bank. Issues that need to be looked into in this case as far as project management is concerned identifying a good project team leader, who will be the manager and supporting the manager in building an effective project management team.
The profound issue in the case of Quantum bank is managing the competitiveness of the bank through the implementation of digital services. This is integrated project management which will need a good project manager as well as an effective project team. Thoughtful lessons on project management A successful project management leader has to exhibit technical and personal skills as his or her strengths in managing the adoption of a project in an organization.
Bill fence, for example, is the right candidate to take place as a project manager. Bill has been successful throughout his profession: computer science. His exposure has nurtured his technical ability and personal skills. For instance, solving technical problems as new recruit in the bank reveals his ability to handle technical situations in the course of implementing the project. The other important lesson learnt from this case is that, whenever there is an introduction to a new project in an organization, there has to be a change in both mission and strategy. In this case, I will not disregard the actuality that project managers have to understand the organization’ s strategy for them to be effective advocates of aligning projects to the organization’ s mission and strategy. Application of lessons learnt I have to admit that the project management concept would help me in various ways.
One, in regard to my profession, with the technical and personal skills it will help me build an effective organizational culture. This will entail the formation of dedicated teams that would work in different functional units of the organization.
Also, the skills adopted will help me provide solutions for complex problems in life. For example, harmonizing the financial position of the company with the new project that needs to be adopted. Factors that would prevent me from the application of the lessons learnt The implementation gap Project manager sometimes has to implement the project independently. In this case, there might be a lack of consensus between the top management and middle-level management. This might prevent me from forming an effective project team. Financial support also might be a problem.