Providian Trust Essay

Business Context/ find Business DriversProvidian bank delivers pecuniary and fiducial services to clients across 216 branches. In an application built on servicing clients, some of Providian presumptions aver officers had 20-30 old age of experience with the company and managed clients at a personal level. The trust officers had total check into over what was sent to the client, including generation of fiscal statements. Control of the financial statements often resulted in a 2-3 month lag in statement delivery, a slower regress time compargond to competitors. Additionally, trust officers often discounted or waived client fees for late or inaccurate statements, costing the company an estimated $2 $5 million dollars per year. The institutional custody stage cable was becoming engineering intensive, and from the clients perspective, Providian Trust had outdated reporting systems. In response to client demand, Providian Trust embarked on an initiative to upgrade their system s and change the direction they serviced their clients.Initiative Objectives/BenefitsTo better serve their clients, Providian Trust started a large selective nurture engineering drift in spite of appearance the trust division. The intention of the assure was to convert their outdated information system into a more(prenominal) efficient, trust and custody management system. Initiative leader, Michael LeBlanc, as well wanted to address issues between the concealment office and front office, issues Providian Trust undergo for years. He convinced the Providian Trust come on that the new software (Access Plus) would shop at a redesign of business attend toes. After room approval, the catch scope included a system implementation and business process redesign. Providian Trust expected annual nest egg of approximately $9.2 million from this task. In auxiliary to the estimated annual savings, the initiative expected the pursual benefitsInitiative ChallengesLeadership* sh ortsighted share survival for Steering committee * A come upon leader of the domain was non selected, intensifying political tension within the group * carry on  * In strong executive director sponsorship and inadequacy of leaders guidance for the meet * writ of execution Committee (made up of secondary people) took on Steering Committee responsibility. Implementation Committee was unaware of their role and responsibilities associated with it (e.g. are they responsible for the success of the have?). phantasmagoric Timeline* protrude timeline to deliver technology floor and train employees was non sufficient * umteen a nonher(prenominal) employees did non have the proper calculating machine skills to operate a PC. PC skills were a pre-requisite for the success of Access Plus. * Clients were expecting changes as a result of the software implementation, but the field did non even have PCs or PC skills to operate the new technology * Impact* User audience non pr epared for implementation training, suck inion is at fortune * Risk of non meeting client expectations count on Team cream* Proper resources were not identified for the realize team up * The project team was broadly speaking made up of individuals from the Operations part that only represented a al attraction of the processes the initiative would furbish up. * The IT group selected to implement the proficient changes did not have experience implementing an information technology initiative of this magnitude * Impact* omit of implementation experience puts technology implementation at risk * overleap of user group representation affects verity of business processes world changed * Employees are not fully jut outive of the project since they were not representedRisk Management* Risks not handled appropriately * In multiple instances, the project team was notified of risks by senior management. Project Team did not address risks directly. Instead, they handled the topi cs one-off. * Project team did not handle risk of insufficient testing * Impact* Risks not turn to dissemble success of project* Sufficient testing is not conducted. It is vague whether the system can handle the information volumeResultsI do not expect this initiative to be successful. Inadequate planning, poor resource selection and an undefined vision put the project at risk for failure. From the beginning, at that place was a lack of due diligence across many levels of the project. The employees involved in the project were not selected appropriately. Junior employees who lacked experience were making project decisions, decisions that would have a significant impact on the company and the way they do business.Additionally, user representation on the project team was low, impacting the accuracy of business processes and excessively impacting user support and adoption of the initiative. It was unpatterned that Providian Trust lacked strong executive leadership on the project which did not get away a good message to the field. Lack of executive support will impact the adoption of new business processes. At the end of the day, if the users do not adopt the system or the new business processes, it will impact clients and clients are the underlying focus in this service-focused industry.Relevance and abbreviationIn my experience, if the project vision is not defined and the project team selection is not right, the grounding for the project is unstable. Providian Trust was operating with an inexperienced project team that lacked executive sponsorship. Executive sponsorship is a key support component to a project team, especially if the team is inexperienced. Executive support and guidance would have impacted the decisions being made and made this initiative more successful.Providian Trust underestimated the amount of training that was need for this initiative. Success of the project was highly babelike on user adoption, something that was not addresse d adequately. Providian Trust decided to take a Train the Trainer approach for this initiative. Trainers were proficient 8 months before the implementation. A lot can change with 8 months stay in a project and it is likely that training topics covered would have changed in the 8 months left of the project. Further, many employees did not have PCs and others did not have PCs for profuse time to learn basic computing device skills that would serve as a foundation to learn Access Plus.From a financial perspective, only 3% of the net enthronement was dedicated to training. In an initiative that introduces so much change into an organization that is historically resistant to change, user training call for to be a top priority. In my experience, Train the Trainer approaches are effective when trainers are sufficiently trained and there is strong leadership support. Both of these elements were lacking(p) at Providian Trust. This case reminded me of the importance of a defined projec t vision, leadership support and proper resource allocation.