Menu

1. it lead me to believe that

0 Comment

1.      Find out
the most suitable project management methodology in financial industry 

Research Goal.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

 

       2.  A Hypothesis

 Despite
of government imposing rules and regulation through regulators, project
Management methodologies are still required to storm through volatile and risky
nature of the industry for organizations to succeed in delivering financial
product and services to its customer effectively. 

 

Justification
of the Subject

When it comes to project management methodology, I
find myself eager to explore in the respective field and its connection with
the financial industry. In my early days I have invested my time in project
management which became the base for me as it lead me to believe that I could
perform best if acquired the right knowledge in finance. Hence, here I am
pursuing the path of finance. I believed that through finance I could truly
find the importance and role of project management. Therefore I tried to
amalgamate both the fields.

 

For a Layman, an organization is at its peak level
if its turnover and profit levels are high. Bu only an expert would know that
any organizations progress lies in how effectively and efficiently it achieves
its goals.  For the above goal to take
place, manager plays a vital role by applying various methodologies for the
success of the organization. Here methodology acts as a means to effectively
achieve the numerous goals or objectives put forward by the organization.

The field of financial services thrives to succeed
at numerous projects with the help of due diligence practices. Scrutiny of each
and every project is mandatory for the investors have vested high stakes into the
respective projects.

 

There are various instances where a project manager
can shine his way though applying different methodologies which might attain
success for the organization. One must know it’s the performance of the
managers that leads the organization to its optimum level. For this there is a
supporting data which proves how various methodologies which the manager might
apply help the organization. The data is as follows:

Agile
Software development: This methodology outshines various characteristics such
as short-termed delivery cycles, dynamic team culture, agile requirements, and
emphasis on prompt communication as well as few restrictions on the project
control.

Crystal
method: This methodology solemnly focuses on how the project lays more emphasis
on team communication. The processes of the project are given less priority and
more attention to team communication to ensure all are on the same page.

Adaptive
project framework: Every methodology focuses on the importance of time. This
methodology does the same. It’s based on time and cost being constant for the
whole project.

Coming
to a conclusion according to my research the data guides me to believe that agile
methodology remains the best methodologies to apply within the financial
services industry. Agile methodology thrives to be a system that enhances
quality and helps organizations improve their business value and brand. It
focuses on involvement of client in the respective project there by forming a
total transparency in the organization.

Nature
of Financial service industry:

This
industry despite having pressure from the external environment thrives
successfully.  Hence to run this one
requires management which will initiate change across different departments of
the organization. It is upon the various organizations to operate within the
guidelines provided by the government. Government’s major policies and
regulations are promulgated to make the organization achieve transparency. This
in turn helps ensure that the organizations release accurate and audited
financial information that can be used to gauge their financial health. Hence
it results in boost in investor confidence as well as encourages growth and
investment within the industry.

Application
of the agile methodology on financial services industry:

According
to the data, since the financial crisis of 2007, the financial industry has
been having various regulatory changes all aimed at ensuring such a crisis does
not happen again in future. For instance, in banking sector, customers are able
to access their money 24 hours a day without any limitations. Such has been
made possible through online banking and mobile banking services that allow the
customer to access banking services anywhere anytime. Over the course of my research
I have come across the data that says agile methods have proven to be among the
best to test the conventional methodologies to software development in most
organizations. However, few suggest that agile methods are not always the best
for every project in a financial organization. Therefore each project requires
its own methodology to enable it to bring the desired benefits that are
required by the management. To implement the agile method, there is the need to
carry out training for the individuals involved in management of the project. The
success of the agile methodology relies heavily on the ability of those tasked
with employing it in the project management. These individuals need to possess
thorough knowledge about the system as well as all other requirements. The
manager need not exercise governance control as there is an enhanced speed of
change in this methodology and hence requires flexibility approach. However,
there is need to adjust project processes and controls to enable them to meet
particular needs of a project.

In
conclusion I would like to stress on the fact that every organization might
thrive differently but agile has proven to be effective on multiple occasions.
Thus, the manager needs to apply its knowledge regarding the field of finance
as well as must know how to amalgamate it with the methodology which in turn
would help the organization attain its success in respective projects. I hope
the above elaborate dissertation have outshined the major aspects of project
management as well as its role in collaboration with the field of finance.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

x

Hi!
I'm Viola!

Would you like to get a custom essay? How about receiving a customized one?

Check it out