Online Banking Conversion

Reflection of the Project: Online Banking Conversion

Student’s Name

Institution

Introduction

In real life human make many mistakes and a lot of things are learnt from those mistakes. In project management a lot of decision making processes are involved. In class, course work and project, we were involved in a lot of decision making with team members within the group and at [personal level to complete a task. Moreover, project management is regarded as the practice of initiating an action, planning, executing, controlling and ending the work of a workgroup in order to achieve specific goals. The core goal of the project management is to complete a project within the time schedule and to ensure that a project meets its objectives. However, the entire course and the course project (online banking conversion) offered me, an opportunity to learn how a project should be done to meet specific goals. During the completion of the online banking conversation project, we were engaged in groups and worked together as a team to derive at point to ensure that the project goals and objectives were achieved. I was able to learn of the best practice of project management and code of ethics, which are used to guide project professionals. The areas, which were covered, are costing, scope, timing, quality, resourcing, communication and procurement. These tools are applicable in project management, and therefore, learning them provides a comprehensive understanding to a project manager. Therefore, I can add details project execution, planning and budgeting as some of the tools or concepts which I can add to my tools for future endeavor.

Group decision making process

In business process or line good business decision is a key to success. This is applied even to project management. The decision making process among the group members or team work determines the success of the project. In order to achieve the intended objective of the project, we engaged in healthy debate among the group members and made the basis of making decision to be based on the majority. Everyone had time to present new ideas and concept for the project and decision to include such an idea was subjected to group debate for majority to decide whether such decision is viable or not. We also made framework policies, which provided guidance for the group and therefore, helped the group to make sound decision for the success implementation of online banking conversion. It is evident that decision making process is one of the tools from the course, which I can add to my toolbox CITATION Oji12 \l 1033 (Ojiako, 2012). During the completion of project, we engaged in market research, discussion, analysis of the market to understand online banking conversation. The project completion started from the initiating the project through engaging the stakeholders and establishing understanding among the key stakeholders to get approval. The process provided me with understanding on how to engage various key strategic partners, which is a key gradient in project management.

Lesson learned

Learning takes place in every project. The completion of online banking conversion project learning was gained from the process of performing various takes. Besides gaining understanding on the online banking conversion process, I gained knowledge on how to share knowledge of the project, coordinating activities, communicate issues regarding the project and also on the reporting on matters related to the project. According to the Dalcher (2012) teamwork coordination is an important aspect of success of any project. Therefore, project managers are required to have proper understanding on how to coordinate activities. It is important to point out that working together with the group as a coordinator improved my skills in coordination. In addition, group work and budgeting are some of the important aspect of project management, which is needed for success implementation of project. Throughout the project we worked in a team where each individual was required to provide detail information regarding the online banking conversion to make the project success. Therefore, working in project provided an opportunity to learn matters of diversity at workforce and this enable me to learn how to work with different people from different cultural background. This is an important knowledge and skills for a project manager since most project managers work with different people from different ethnicity without proper understanding of cultural diversity, it could be difficult to effectively manage a project. I also learnt project integration process and understanding various approaches, which are used to manage a project. I also learnt how to come up with a project, provide documentation which shows activities necessary for the achieving the intended objectives of the project. It is important to point out that the approaches, which I learnt are based on the methodologies for different projects. In the case of online banking conversation, I learnt to conduct research on banking, survey and implementation of new technology, which is important for efficient project management.

Best Practices Project Management

Moreover, the project provided knowledge and understanding of best practice of project management. The seven best practice of project management learnt during the completion of online banking conversion project are how to define the scope and the objective of the project. Define the deliverable of the project, which include the expected outcome and the achievable. This is what we completed first as a team during our group discussion to ensure that there is a proper roadmap of the project. However, other best practice for project management are project planning, communication, change management, risk management and tracking and reporting of the project progress and the accurate estimation of the project. Throughout the project I learnt that all the seven best practice of project management are essential for success of the project. The best practice is implemented distinctly with experts for the success of the project. I also learnt that these best practices are incorporated and implemented throughout and they are interrelated and therefore, the success of each best practice determines the success of the entire project. In order to successful complete the online banking conversion project, we started by delivering the scope and the objective, consulting the stakeholders to convince them to accept the implementation of the project CITATION Sod08 \l 1033 (Soderlund, 2008). This is an important aspect which project managers must understand for them to communicate the project objectives and goals to the stakeholders for the project to be accepted. Therefore, taking part in this project provided a clear understanding and skills on how to derive the scope and communicate the same to the stakeholders. This is a key to success implementation of some of the best practices of project management.

However, the course will help in making me a better project manager because of the concept has acquired from the course. The course completion involved both practical and theoretical work related to how project can be effective be manage. It is therefore, important to state that I gained knowledge in project execution, planning, evaluation, budgeting and also implementation of change management. These concepts are essential and I believe they are useful for any project manager. The teamwork and assigning of tasks are also some of key features of a project manager and therefore, throughout the project I learnt to project effective coordination with other team members and assigning tasks to the members as well. Therefore, acquiring these skills and knowledge are important and I believe it will provide a benchmark to my success as a project manager in the future.

References

BIBLIOGRAPHY Dalcher, D. (2012). The nature of project management. International Journal of Managing

Projects in Business , 2-15.

Ojiako, U. (2012). Facilitating the Development of Project Managers as . Reflecting on your

management of the project , 2-15.

Soderlund, J. (2008). Project Management : Managers And Teams. Relating, reflecting and

routinizing: Developing project , 2-15.