Set Up of Project Governance to Improve Relationship Between the Business and Technology
In order to improve the efficiency and delivery of a core technology team, New Link established a project governance framework.
Problem Statement:
New Link Consulting engaged with the regulatory data team in a Tier 1 Investment Bank to set up project governance across the technology delivery for a key project. This set up was in order to improve their ability to present on time and to fall in line with requriements.
After establishing a first line of defence control function in the COO, the client required support in installing and maintaing ongoing governance and product management for a core technology component.
The team and the project were responsible for the development and installation of policy that tied in with the bank’s information lifecyle and to respond to information requests from regulators.
NLC Engagement:
New Link set up robust governance forms and associated risk, issue and status reporting to assist with oversight. These reports were accompanied by identificaiton of inter-workstream dependencies and installation of functions to manage, trach and report on them.
Critcal to New Link’s approach was the selection and implementation of various in-house and third party technology solutions. These investments would create a scalable, robust framework to allow for ongoing regulatory data requests to be successfully met.
New Link determined that a major issue in delivery success was a lack of technology design and integrating it with business architecture. New Link resolved this by installing a Design Authority to agree on business and technology architecture decisions which would facilitate delivery.
Some of the many devlierables included:
- Established and managed the technology PMO function
- Delivery Review of the Data Source Catalogue (a key programme worksteam)
- Carried out system suitability analysis and vendor review/selection
- Performed artchitecture analysis
- Oversaw engineering plans and user acceptance testing/deployment
Outcome:
New Link was able to install robust risk management for project delivery as well as ongoing support of the subsequent control function.
Improved the communication and linkage between technology and the business, resulting in improved plan alignment and architecture discussions.
All technology deliveries were successfully implemented to New Link and the Client’s expectations.
