Managing a Large Financial Project

950 words 4 pages
Show More
Managing a Large Financial Project
Beverley Stephens
Dr. Laurant Jolly
CIS 500- Advance Systems Analysis and Design |
August 9, 2012

Introduction
As the manger of a large financial project for company Bev shoes I am facing some challenges. The project is running behind schedule and we have a new CEO. In the meeting with the CEO I had to make him aware that the project deadline is at risk and his response was to take staff from a project with less importance and put them on the financial project. From the outside this looks like a great solution to the problem because more staff could get the work done faster and put the project back on schedule. I have to disagree with the CEO’s point of view because just assigning more people …show more content…

Impact from lack of Process and Standard
A successful project implementation has to adhere to certain standard and process. The person working on the financial project at this time has exhibit this understanding. Just because we are behind schedule for completing this project does not mean that we can just add more resources as the CEO recommended. The result of this would just further delay the project. Taking staff from a lesser important project to work on this financial project means that they lack clarity of the business process. This would require some significant amount of time to bring them up to speed. This new staff would come in with a poor understanding of the business process and ultimately impact the project in a negative way.
Solution to CEO questions
The solution to the problem with the financial project falling behind schedule is to hire consultant with expertise in implementing a financial project of this magnitude. These resources would come with years of experienced and it would be easier for them to understand the business process and the technology architecture. This would put the project back on track to meeting the deadline.
Conclusion
Simply adding more staff to the financial project is not the solution to getting this project back on track to meeting deadline as the CEO recommend. There are key process that an individual needs to understand first before

Related

  • Investment Appraisal Under Uncertainty
    2393 words | 10 pages

    Subject: Investment report To: Mr. Michael the Chief Engineer Mr. Richard the accountant Mrs. Rachel the economist From: Alex the Managing Director Hello, everyone, I would like to present an introduction and brief description of the investment project to you, and wish to make sense as much as possible. To begin with, this project is about creating an online-based business that specializes on consumer goods such as fashion garments, imported electronic products and food, nutrient….

    Show More
  • Managing Financial Resources
    1190 words | 5 pages

    Course:HND BUSINESS Subject: managing financial resources and decisions. Student Name: Irshad ul haq Student No:1124 Assessor Name: mr olumide ologan Content Page Section No Page No 1. Introduction 2. Identify the sources of finance available to a business.(P1.1) 3. Assess the implications of different sources.(P1.2) 4. Select appropriate sources of finance for a business project. (P1.3) 5. Assess and compare….

    Show More
  • ATHE Level 6 Management Specification2
    12412 words | 50 pages

    Qualifications in Management ATHE Level 6 Award in Financial Decision Making for Managers (QCF) ATHE Level 6 Award in Leading Organisational Equality and Diversity (QCF) ATHE Level 6 Award in Managing Finance in the Public Sector (QCF) ATHE Level 6 Award in Managing Stakeholder Engagement (QCF) ATHE Level 6 Award in Risk Management (QCF) ATHE Level 6 Certificate in Human Resource Management (QCF) ATHE Level 6 Certificate in Project Management (QCF) Level 6 Management, Nov 2011….

    Show More
  • Financial Information for Decision Making
    4739 words | 19 pages

    DIP0012 Financial Information for Decision Making Project Lecturer : Mohamad Karaki By Santy Ramasamy #26261, Dexter Chai # 26464, Yijie Eu #27005 DIP0012 Financial Information for Decision Making Project Table of Contents CHAPTER 1 ................................................................................................................................................... 2 1Bank Statement ......................................................................................….

    Show More
  • Agile Project
    3733 words | 15 pages

    literature on agile project management and its benefits and challenges by considering definitions and theories of agile project management, principles and empirical literature. 2.1 Project management and agile project management defined 2.1.1 Project management According to Kerzner (2009, 10th ed.) project management is the planning, directing and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and….

    Show More
  • Sample Project Report
    2982 words | 12 pages

    Project Report: Corporate Overview: HB InfoTech (HB) is a global IT company. HB offers clients business solutions that leverage all aspects of the software life cycle. These span consulting, design, development, re-engineering, maintenance, systems integration, and package evaluation and implementation. HB also offers software solutions aimed specifically at the banking industry. HB leverages its global client base and its professional workforce through its Global Delivery Model. The company….

    Show More
  • report on developing skills
    1830 words | 8 pages

    Developing skills in a large organisation through training and development A National Grid case study Page 1: Introduction National Grid is one of the world's largest utilities. It focuses on the delivery of energy (gas and electricity) safely, reliably, responsibly and efficiently. The networks include: around 4,500 miles of overhead power lines 340 electricity substations 4,300 miles of high pressure gas pipelines around 80,000 miles of distribution pipes delivering gas to 11 million meters….

    Show More
  • International Project Management
    5861 words | 24 pages

    markets, and rise in the concept of the importance of International Project Management has increased many folds. Project management is a discipline that applies various tools, concepts, principles, practices, activities that help in improving the profitability of organization and results in overall growth. It helps organizations working in various parts of the world in integrating there operations and achieving goals. The project management concepts are based on principles of rationality in human….

    Show More
  • Financial Management in Nonprofit Organizations
    1904 words | 8 pages

    Running head: Financial Management in Nonprofit Organizations Financial Management in Nonprofit Organizations Executive Summary Successful management of a not-for-profit organization requires providing high-quality service, but at the same time, careful administration - to reduce expenses and automate processes are ongoing requirements. Each type of not-for-profit organization has unique management needs. For example: • Social service and government agencies require meticulous….

    Show More
  • Nursing Leadership/Management Role in Budgets
    1226 words | 5 pages

    Nurse Leadership/Management Role in Financial Management and Budgeting Kimberly Lizama Holy Names University NURS 151 10 FS December 6, 2010 Abstract The following paper discusses the nurse manager’s/leader’s role in healthcare financial management and budgeting. The definition of a budget is a detailed financial plan. The nurse manager/leader is responsible in knowing and understanding the different types and budgets within the healthcare organization: operating, capital expenditure, and….

    Show More

Popular Essays