A large regional bank in the Southeast wanted to develop and rollout new products and service offerings to better serve their high net-worth wealth management clients. The bank outlined the offerings they wanted to implement but quickly recognized that they needed project and change management expertise to help with the reengineering of people, processes and technology.
The client sought our help to build an internal PMO organization to manage the required transformation activities needed to support the new direction. Based on current state, desired state and identified gaps, we developed remediation plans that became the basis for the portfolio of projects. In addition, we were asked to stand up an internal PMO to be responsible for ongoing transformation activities.
Our team worked with the bank to identify projects that aligned with the transformation objectives. Projects were broken down into portfolios by product lines (e.g., mortgage, credit card, investments, treasury), and our project managers were engaged to manage the portfolios. We held facilitated sessions for each product line to identify the people, process and technology changes needed to meet objectives.
Over the course of 12-to-18 months, responsibility for program and project management was successfully transitioned to the client. Successful outcomes included a properly staffed and trained PMO; objectives for new products and servicing offerings were met; and new disciplines for project, change and communications management were implemented throughout the organization.