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Providian Trust Case

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Project Topic Selection
The case study reviews the company Providian Trust as the organization attempts to implement a major software system aimed at updating its internal business processes and outdated information system to be more cost efficient and provide more timely services to its customers. Providian Trust Company is responsible for providing financial and fiduciary services to include residential and commercial mortgages and corporate loans which were the company’s primary source of revenue. However, despite the company’s ability to manage $49.4 billion in trust assets, the organization was only the tenth largest provider and were losing money. This was largely attributed to the fact that they were lagging behind in regards to technology
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According to the Project Management Institute (2013), plan procurement management is the process of documenting project procurement decisions, specifying the approach, and identifying potential sellers. This step helps the organization determine whether or not they should acquire outside support. If done correctly this step should help the organization know exactly what they need to acquire, how to acquire the appropriate services or products and finally how much it will cost the organization. For example, in the above case study Providian Trust has determine that they would benefit from an outside vendor, they have also decided to go with the Access Plus software to help them achieve their goals. Additionally, they have determined the price and timeframe; the project was to last for 20 months and cost $18…show more content…
In the case of Providian Trust, the organization attempts to outsource the implementation of a major software system aimed at updating its internal business processes and outdated information system to be more cost efficient and provide more timely services to its customers. However, there are certain activities and processes that are needed to ensure that the procurement process is effective and the appropriate goods and/or services are acquired. For example, a needs analysis or feasibility study will need to be conducted prior to sending out the request for proposal (RFP). Specifically, for IT projects, such as the software development for Providian, this will pay off despite the chosen vendor as well as help avoid falling in love with a pretty interface and not what’s under the hood. In addition, the focus will be on solving business problems and seeing and understanding vendor capabilities and tool demos in relation to the project goals and objectives for the future. Additionally, there are some key criteria that should be followed to help ensure the success of a vendor selection and the procurement planning
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