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Projects & Profits


February '09
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Collaboration and Communication : Challenges and Potential Improvements
Project Management : Sovereignty of PRINCE2 Methodology
Turning Good Ideas into Good Business : Chartering a Portfolio Pathway to Profit
Complex Projects : Evaluation Criteria for Front-end Governance
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Collaboration and Communication : Challenges and Potential Improvements

-- Carol A Dekkers

In construction and manufacturing, the close collaboration between interrelated disciplines as contracting, material ordering, resource scheduling, inspections, is critical—especially when the project involves geographically remote suppliers, designers and architects. However, effective collaboration in software development (especially involving customer team members) is still a novel concept today. Considering that only a third of software projects achieve `success' and that soft skills are not natural in software projects, collaborative engineering techniques offer promising results. This article examines the industrial state of collaborative engineering and suggests potential improvements for consideration in future research.

Applying a Project Management Model for Medium, Small and Micro-Enterprises

-- Alfonso D Núñe

Latin America is undergoing a significant transformation in terms of project development. In this scenario appears the Medium, Small and Micro-Enterprises (Pequeña Y Mediana Empresa - PYMEs) which account for 60% of the region's GDP. These organizations, in order to continue surviving with big corporations, require mechanisms to drive their needs, prioritize, implement and quick feedback to continue their growth. This pressure proposes a new project management model based on Project Management Body of Knowledge (PMBOK). This article covers the simple set of concepts and best practices to conduct the projects into PYMEs in order to manage the Requirements Portfolios in a successful manner.

Project Management : Sovereignty of PRINCE2 Methodology

-- Peter Kemp And John McManus

Following a project methodology such as PRINCE2 helps project managers and those involved in organizing and delivering software projects, but methods such as PRINCE2 can become an almost insignificant factor in the face of risk, stakeholder management and personal politics. From the author's experience, methodologies such as PRINCE2 generally becomes a fetish, a procedure used with pathological rigidity for their own sake and not as a means to an end. Used in this way, PRINCE2 provides relief against anxiety and insulates the practitioner from risks and uncertainties of real engagement with people and problems. If we consider the inherent complexity of risk (i.e., time, cost and quality issues) associated with software project delivery, it is not too surprising that only one in eight projects will be delivered to their original time, cost and quality requirements.

Applying Complexity Thinking to Manage Project Complexity Dimensions

-- Kathleen B Hass

Traditional project management, system engineering and business analysis practices are often insufficient when applied to complex projects that behave dynamically. In the case of complex projects, leadership is the critical component that can make the difference. This fourth article in the series on managing project complexity presents practical techniques for project leaders faced with challenging complex initiatives. We estimate that putting these techniques into practice can reduce project rework by 30-50%, thus, eliminating excessive time and cost overruns.

Turning Good Ideas into Good Business : Chartering a Portfolio Pathway to Profit

-- Anders Hemre

Increasing the return on innovative effort requires both—a way to nurture and guide the ideation process as well as a way to systematically and fairly valuate both new ideas and new projects. To ensure best possible returns on projects, innovation-driven businesses could apply the portfolio concept also to the early ideation stage and combine this with a comprehensive valuation of innovation projects using the real options concept.

Complex Projects : Evaluation Criteria for Front-end Governance

-- Ole Jonny Klakegg And Tore Haavaldsen

There is an international agreement that there is a need to develop improved methodologies for documentation and evaluation of project concepts in order to bring the typical problems of large, complex projects under control. The Norwegian Ministry of Finance has recently introduced a Quality Assurance regime that applies an intervention logic that complies with, for instance, the principles of Logical Framework Approach (LFA) and integrated evaluation criteria recommended by Organization for Economic Co-operation and Development (OECD) for international development projects. This article describes how these frameworks have been useful in improving Front-end Governance.

The key to sound time-risk management is to accept the inevitability of delay to progress and to have the tools at hand to manage its consequences

-- Keith Pickavance

 
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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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