Professional Documents
Culture Documents
Group 5
Max Howard Ryan Kamalesh Sarah Issac Raphael
Presentation Agenda
1) Background of Project 2) Project Scope Statement 3) Evaluation of Projects probability of success (Addressing question if the project still on track?) 4) Recommendations to Project Manager on management approach (Addressing approach given PM is not technically inclined) 5) Highlight Key Issues and Recommendations for Improvement
Background (1/2) Bank of America has acquired U.S Trust to strengthen its Global Wealth Management Division
US$21B Profit Other Information: Bank of America, experienced in M & As places much focus on a successful integration of an acquisition. Forms dedicated team from various levels (Transition Program Office) when required for a smooth transition. US$73B Revenue
Reports direct to CEO, via Chairman. TPO kept intact for 6 18 months, as deemed necessary
TLT Chairman Columbia Management Private Bank Transition Leadership Team (TLT) U.S Trust Wealth Management
Nov 06, Announces acquisition Jul 07, Deal closes officially
Notes: 1. The acquisition of U.S Trust aims to serve the needs of wealthy individuals and families nationwide through bank of America s broadbased service and unparalleled distribution platform. Vision of Bank of America s senior management firmly believes in integrating new and existing operations, rather than leaving an acquisition operating stand-alone.
2.
The assignments coverage evaluates the integration aspect from a recent M & A, in a critical IT integration projects; TrustWeb.
Background (2/2) The transition to effect the Merger was coordinated but was not a smooth process
ASSESSMENT PHASE/ ENTERPRISE LEVEL
Current Environment Review Identify Capabilities of both entities Identify gaps in between capabilities
STATUS
1. High resistance from U.S Trust personnel highlighting serious degradation in service if identical functions from old system were not provided.
SUB PHASE 1
SUB PHASE 2
2.
Justification due to multi-faceted reasons e.g Contractual issues, cost, impact to users.
3.
Integrated Plan
PM decided on staged implementation to upgrade patch release 1.0 and yielded to further enhancements desired by U.S Trust in future release 2.0.
3.
TrustWeb would be enhanced (TrustWeb Project) to cater for integrated use and comply with regulatory requirements.
SUB PHASE 3
IT integration was dramatically debated, resulting in deviation from its original scope.
Question 1
BOA/ UST Back Office Systems Integration (less specified) Non-Private Banking Client facing systems integration i.e Consumer/ Enterprise etc
Project Milestones
* From exhibits
TrustWeb R1 Code Ready R1 Test Complete R1 Training Program Complete Cutover R1 Patch Trustweb R2 Code Ready R2 test Complete R1 Training Program Complete Cutover of R2 Patch Control Toll Gate
30 Nov 2007 05 Feb 2008 10 Mar 2008 10 Mar 2008 25 Jan 2008 25 Jan 2008 12 May 2008 12 May 2008 02 Jun 2008
Context
Date is 16 Aug 07, just after a Transition Program Office (TPO) update in New York, and one month after a project discussion in Dallas for Release 2 requirements. Former CEO of U.S Trust, had resigned earlier in the year, leaving no senior representation from U.S Trust on the Transition Leadership Team (TLT). PM, Mike Morris who had recently joined the transition execution team and taken over the project in early 2007 reflects and understands probability of deeper issues to come. Our Group (Group 5) addresses the issues
Question 2
Is Project still on track? Boils down to question if the requirements were clear to the Project Stakeholders
Project is not on track, apparently Morris is not able to get UST leaders to agree on the functionality of client reporting. BRD is said to be completed but the customer service and technical lead from UST is not agreeing to it. The requirement is unclear as the specification of the project can not be agreed upon. Project can be brought back on track by ignoring request on specific features but risking the degradation of service as claimed by UST. Morris missed the Dallas meeting, missing an opportunity to understand the requirement, first hand, from the 40 participants. Missing the chance to sell the tradeoffs of the project deliverables to UST. Morris also did not leverage other technical resource outside project team to address UST requirement based on existing constraint.
Question 3
Operations Analyst (Consumer Bank) Transformation Projects (Bank of America) TrustWeb Project (Bank of America)
We feel that an effective PM will do We look at Mike Morris characteristics from the article.
Effective Project Manager Mike s Traits
Innovate & Maintain Stability See big picture while getting hands dirty Encourage individuals but stress the team Hands-off/Hands-on Flexible but firm Team vs Organization loyalties
System thinker Strong leadership Personal integrity Proactive High EQ General business perspective Effective time management Skillful politician Optimist
? ?
? X
Question 4
Lack of PM skill
Key Take-aways
Effective planning linked to clear customer requirements,
1.
2.
Keep intact leadership from both organizations, To drive shared direction critical for M & A success.
3.
End