Providian Trust Essay

Business Context/ recognize out Business DriversProvidian avow delivers pecuniary and fiduciary work to customers across 216 branches. In an industry built on servicing clients, many of Providian practices deposit officers had 20-30 years of see with the familiarity and managed clients at a personal level. The trust officers had total control all over what was sent to the client, including generation of financial statements. Control of the financial statements often resulted in a 2-3 month lock up in statement delivery, a slower reverse gear 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 zillion dollars per year. The institutional duress channel was becoming engineering intensive, and from the clients perspective, Providian Trust had outdated reporting remainss. In repartee to client demand, Providian Trust embarked on an possibility to rise their outlines and change the way they serviced their clients. possibility Objectives/BenefitsTo better make out their clients, Providian Trust started a large information technology be after within the trust division. The objective of the jutting was to convert their outdated information system into a more efficient, trust and custody management system. Initiative leader, Michael LeBlanc, also wanted to address issues between the tail end office and front office, issues Providian Trust experienced for years. He convinced the Providian Trust board that the new software product (Access Plus) would support a redesign of problem processes. after(prenominal) board approval, the forcing out scope included a system implementation and business process redesign. Providian Trust pass judgment annual savings of approximately $9.2 million from this hear. In addition to the estimated annual savings, the go-ahead expected the following benefitsInitiative ChallengesLeadership* Inadequ ate appendage selection for Steering committee * A key leader of the correction was non selected, intensifying governmental tension within the group * concern * ineffectual executive sponsorship and lack of leadership focusing for the propose * Implementation Committee ( do up of junior people) took on Steering Committee responsibility. Implementation Committee was unsuspecting of their role and responsibilities associated with it (e.g. are they responsible for the success of the foresee?).Unrealistic Timeline* Project timeline to deliver technology basis and train employees was non sufficient * Many employees did not down the proper electronic computer 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 not even have PCs or PC skills to operate the new technology * Impact* exploiter audience not prepared for implementation education, acce ptation is at gamble * Risk of not see client expectationsProject aggroup Selection* fit options were not identified for the pick up team * The range team was mostly made up of individuals from the operations department that only represented a mass of the processes the initiative would relate. * The IT group selected to implement the technological changes did not have experience implementing an information technology initiative of this magnitude * Impact* leave out of implementation experience puts technology implementation at risk * Lack of user group delegation affects accuracy of business processes being changed * Employees are not fully corroboratory of the intercommunicate since they were not representedRisk prudence* 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 topics one-off. * Project team did not handle risk of insuffi cient testing * Impact* Risks not addressed impact success of project* Sufficient testing is not conducted. It is unknown whether the system can handle the information volumeResultsI do not expect this initiative to be successful. Inadequate planning, poor resource selection and an undefinable vision put the project at risk for failure. From the beginning, there was a lack of due labor 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 diaphanous that Providian Trust lacked strong executive leadership on the project which did not send a trusty message to the field. Lack of executive support give 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 central focus in this service-focused industry. relevance and AnalysisIn my experience, if the project vision is not define and the project team selection is not right, the foundation for the project is unstable. Providian Trust was operating with an uninitiated 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 information that was needed for this initiative. Success of the project was highly leechlike on user adoption, something that was not addressed adequately. Providian Trust decided to take a Train the flight simulator approac h for this initiative. flight simulators were adroit 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 odd of the project. Further, many employees did not have PCs and others did not have PCs for enough time to tally basic computer skills that would serve as a foundation to learn Access Plus.From a financial perspective, only 3% of the net investment was dedicated to training. In an initiative that introduces so much change into an organization that is historically resistant to change, user training needs 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 deficient at Providian Trust. This case reminded me of the importance of a defined project vision, leadership support and proper resource allocation.