Citisoft’s Steve Young recently authored a blog at Banking Tech on project management, discussing the crucial need for leadership and early communication of issues on large-scale operational projects at asset management firms. “These projects are notoriously ambitious, incredibly complex and extremely hard to deliver.” Steve comments. “Global system implementations are a common culprit, where often multiple applications (some legacy) are being replaced.”
When such a project flounders, the typical response for all concerned is to try to ignore the scale of the problem and continue to tinker, largely on the same course, rather than address the fundamental issues. In these circumstances the firm has usually invested so much time, energy and money into the project that no one wants to be the individual that draws attention to the fact that it is not going to achieve all of its objectives and will be over budget and late.
For Steve’s thoughts on solving cultural obstacles on projects, read the full blog.