Providian Trust

1107 WordsFeb 16, 20135 Pages
Business Context/Key Business Drivers Providian Trust delivers financial and fiduciary services to clients across 216 branches. In an industry built on servicing clients, many of Providian Trust’s trust officers had 20-30 years of experience with the company and managed clients at a personal level. The trust officers had total control over what was sent to the client, including generation of financial statements. Control of the financial statements often resulted in a 2-3 month lag in statement delivery, a slower turnaround time compared 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…show more content…
Project Team did not address risks directly. Instead, they handled the topics one-off. * Project team did not handle risk of insufficient testing * Impact: * Risks not addressed impact success of project * Sufficient testing is not conducted. It is unknown whether the system can handle the information volume Results I 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, there 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 also impacting user support and adoption of the initiative. It was evident that Providian Trust lacked strong executive leadership on the project which did not send a good message to the field. Lack of executive support will impact

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