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All project management methods we can also apply in banks.
Agreed with experts opinion
Managment tools for any project can be applied in all fields all the same.
1- identify your goals.
2- review your resources.
3- secure your procurments.
4- set up a detailed focused scheduletowards your goals.
5- continues monitoring for your progress while watching costs
Hello Team,
In fact, some project management methods and aspects might seem very familiar to those working in financial services, e.g. risk management or portfolio management. More and more banks and companies in the finance industry are increasingly looking for good project managers or are adopting project management methodologies, especially because implementing project management strategies can help you avoid costly project delays and failures and increase your return on investment.
let’s take a look at 5 project management points that are worth incorporating into the finance industry.
1. Think like a project manager: Adopting the right project management methods can help you increase efficiency organization-wide, from integration management to trade financing to customer management.
2. Plan ahead: You need a plan with a clear objective to be able to complete a project successfully. You need to have a game plan on how to mitigate these risks and changes.
3. Stay flexible: The world is moving at a quicker pace than ever before, and as a result so does the finance industry. The economy, stock markets, as well as laws and regulations can change quickly, which is why it is important to be as flexible as possible.
4. Standardize and improve processes: Standardizing processes can increase efficiency and productivity and thus, provide clients with faster and better productivity, which creates more value for the organization.
5. Take advantage of technology: Make use of technology to improve processes, communication and collaboration within your organization and with clientsand other stakeholders. In finance, a process might need several steps to be approved (e.g. lending process), which is why it is vital that communication is effective as possible.
Thanks for invitation,
"Project Management", are used in banks, same as any other institutions upon executing the bank's strategic plan, for example:
_ Upon its products' enhancement and developments or innovate new products.
- Upon upgrading its services' quality ( via centralization or decentralization).
- Upon any banking IT projects (for its soft or hard ware).
- Upon reallocate or even internally reorganizing its branches.
- ETC.
A project is a set of activities linked to each other with a specific beginning and endAll the bank's activities are considered to be activities until the delivery of financial delivery is considered an activityExamples of banking projects that need to use project management1- Real Estate Finance2. Shares3. Deposits4- etc.
