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as the organization attempts to implement a major software system aimed at updating its internal business processes and outdated information system to be more cost efficient and provide more timely services to its customers.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to outsource the implementation of a major software system aimed at updating its internal business processes and outdated information system to be more cost efficient and provide more timely services to its customers.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
As the healthcare system prepares to select a outsource company as its vendor for this project, what types of information should it give to and gather from each vendor under consideration?
Case Study Assignment KL Worldwide Enterprises Inc.: Putting Information Technology to Work Submitted by Mark Lemoine September 14th, 2012
We are undergraduate students in the course IT 396-44 Management Information Systems at Monroe College. Professor Asteria Villegas is the instructor for
The case identifies struggle and problem faced by organizations outsourcing IT projects and allows us to ponder on how to manage outsourcing well.
The needs of a project must be carefully identified, sourced and acquired to have a successful procurement process. Procurement planning is essential to the overall success of a project. It involves identifying the materials and services, finding the suppliers, and properly documenting the transactions.
The system champion will be responsible for leading the team and that particular team will come together and determine the expectations of the project while creating a project plan. The assembled team must get a list together of goals needed to accomplish within the new system and access the way these goals are going to be accomplished. The goal of the information system is to process and store data while keeping information safe and secure for the organization and within this process the important goals need to be understood by all members of the team, and implemented within the system. There are surveys given to the implementation team, and staff members so that the goals are identified by the importance it holds and will play within the process. Once the goals are determined the team is ready to find a vendor who fits the requirements by creating a list of all vendors to send a request for a proposal to the chosen vendors. The only time an organization accepts a request from the chosen vendors is when and if they are willing to do a demonstration for the staff and team members on the site. This on-site demonstration will help the staff to have a better understanding of the system while making an informed decision based on the information presented. This demonstration will also help the implementation team decide which vendor produces the better system while meeting the
The most valuable output of the Plan Procurement Process is the Procurement Management Plan. As is the case with almost every aspect of the project management process, it is essential and imperative that the project management team implement an effective and concise plan when it comes to the various components of procurement throughout the project’s life cycle. Specifically speaking, the procurement management plan refers to the plan that has been put into place that is meant to dictate and describe the entirety of the procurement process and how it is means to relate to and with the developing procurement documentation, and how contract closure will relate to all. The procurement management plan should be implemented and developed as early in the project life cycle as possible to assure that the procurement process is consistent throughout, however, in some cases the plan may be altered once the project begins, particularly if budgetary reasons dictate.
In this essay, this research study seeks to demonstrates how financial management's usage of IT services reduced cost and control cash flow in the organization. Thus, the organization’s purpose is to analyze the elements which make up the organization’s framework. For that reason, the organization must know all specificy problems, purposes, the significance of the problem, and supporting theories. In fact, this research methodology analyzes the implementation of the problem solutions, and defends the result’s findings
Requirements gaps: Making sure that the business is meeting its needs financially enough to use the software and if the software will increase profits.
Another element that is essential in the project management plan is the cost management plan. The main focus of the cost management plan is overseeing the cost of the necessary resources for the execution of the project (PMI, 2013). This function is completed within the planning stage of an endeavor to provide a structure to support performance and efficiency throughout the lifecycle of the undertaking (PMI, 2013). For the AAE Project, analogous and parametric estimating was utilized in estimating the potential costs of the endeavor. Appendix T shows the cost breakdown of each activity within the project by separating the salaries, equipment/vendor costs, and vendor contract costs. Since
The Project Manager will develop the preliminary budget and timeline based on the detailed project plan. Due to the uncertainties involved with estimating project requirements, management should build flexibility into the schedule. The Project Sponsor will evaluate the analysis results before formally approving the project plan, budget and timeline.
Once the requirements are determined what the system must do, an analysis can be conducted to determine if it is more cost effective to develop the software in house or purchase commercial off the shelf software. In the analysis, both options should include the advantages and disadvantages of both approaches. If it is determined to develop the system in house each component of the system can be refined in detail in layers until they are detailed enough to validate the model of the new system. Utilizing a top-down approach can take advantage of new technology and development of the new system will help control development and cost and deliver a system faster, but the disadvantage of this approach is the system cannot be used until it is fully developed and tested. A bottom-up approach may take longer to develop but the system can be used after completion and testing of the first component, which the organization can see immediate results of the project and the new system can benefit the organization earlier on their
The vendors are investing in their employees by various training programs on different technologies. This gives a chance for the vendor to provide the outsourcing services to a company with the help of the well trained employees who are ready to work on the projects. Before outsourcing some of its products and services to a third part vendor, the company has to analyze all the factors that might result from the outsourcing decision, the advantages and disadvantages of the company both in short term and long term due to outsourcing. According to Aubuchon, outsourcing some of its products can be a good thing for a company and the judgment to outsource the services must not only based on the cost factor, but the company has to take all other significant factors into consideration (Aubuchon, 2014).
In this paper, the author will introduce a failure case of K-Mart 's IT modernization system project. In 2001, K-mart took $1.4 billion dollars into this project with the purpose of competing with its rival Walmart. The dream is beautiful, but the real work is cruel. After 18 months, the project was failed because of lacking of cash. What happened in the detailed for this project? $1.4 billion dollar is huge numbers, why it was still not enough to pay and distribute for this project? How did its project manager do in this project? What are the project problems? How can we learn from the failure of this case? The paper includes the case background introduction, the project development process, the problems in the project, analysis and
While it lessens the burden on organizations, reducing and shifting the cost and risk of its IT operation, security and management issues to an external service provider or vendor, outsourcing any portions of an organization's Information System has significant risks that can sometimes become detrimental to the outsourced organization. According to the Commission on Government Outsourcing, "when outsourcing an organization exposes itself to significant risks in terms of security, accuracy, and completeness of information (Holroyd City Council, 2008)". Comprised in the rest of this document is an