Project objectives
This is the initiation project plan that has been done for the organization named HSBC Bank. It can be seen that the organization is rapidly intensifying the entire process of the business, however they are facing different kind of operational issues and risks in the digital technology transformation domain. Furthermore, in order to resolve such kind of organizational issues in the digitalization of the whole structural process of the HSBC Bank. It has been that the management of the respective organization has tried to implement the change management plan wherein the change management will be implemented in the different departments as to develop new digitalization processes and innovations for handling such issues in HSBC Bank.
HSBC Bank is one of the British banks that is multinational in nature along with financial kind of services holding organization (Grewal 2017). The headquarters of HSBC Bank is in London, United Kingdom and the respective bank serves the entire world in an effectual manner. The revenue and the operating income of the company is around US$51.445 billion and US$14.792 billion and the number of employees employed are around 228,687 (Gomez and Tejedor 2015). The main aim and service provided by HSBC Bank is to provide support to their business customers, however it has been that there are different issues in the recent era wherein there is no such digitalization processes that are applied in the company. Therefore, a new project will be initiated as to deal with such issues and this will help in implementing change management in the organization as well (Pandey and Misra 2014).
The main scope of the project helps in defining different kind of essential and important information that is required for execution of the entire project (Jones et al. 2016). The entire statement of the project will help in consisting of the different factors that includes requirements expectation along with analysis of the features of the digitization in the entire business (Ogilvie 2016). The entire project will help in highlighting different kind of processes along with initiatives that are required for the implementation of the change management with the help of digitization of the technology. The entire scope of the project is further divided into other parts that has been described in the later part of the project (Page et al. 2015).
The different objectives of the project include the implementation of the project change management with implementation of digitization that are defined as follows:
- To evaluate the different system of existing network for identification of the changes that are required (Nagaraj 2016)
- To properly identify the different strategies of entire change management as to improve the different business model for the implementation of digitization
- To develop proper documentation for the digitization of the entire structure of HSBC Bank
- To integrate developed digitization software in the respective business model
- To develop different kind of digitization processes in the organization as to deal with different issues
Project scope
Project management of the organization will be consisting of different kind of processes of digitization for successfully implementing the process.
- Identifying the different initiatives of change management
- Proper restructuring of different processes within model of business
- Technical kind of requirements
There are different constraints wherein one of the limitations if the time span of project is high as the different employees are engaged by providing accurate guidance. The system that has been newly developed has to be compatible in nature and the different purchases of items has to be in accordance with the allocated budget of the organization.
Assumptions
There are different assumptions that are considered during execution of the project are as follows:
- The project undertaken has proper support from sponsors along with internal stakeholders
- Purpose and objective of executing and developing project has to be communicated within all departments
- Additional requirements are required for successful completion of the project
The different projects are developed in an effective manner as to serve accurate purpose and this focuses mainly on the tastes and requirements of the customers. The success of the entire project is determined with the different tangible along with intangible outcomes for achieving success for the project. Furthermore, the different deliverables of project will be consisting of different kind of information along with equipment and money. The project deliverable for bringing the entire change management for digitization of the different structures of the HSBC Bank are as follows:
|
Task Name |
Duration |
Start |
Finish |
|
Proposing change management |
64 days |
Thu 3/22/18 |
Tue 6/19/18 |
|
Process for Business Re-engineering |
22 days |
Wed 6/13/18 |
Thu 7/12/18 |
|
Digitalization requirements |
25 days |
Fri 7/13/18 |
Thu 8/16/18 |
|
Digitalization phase |
25 days |
Fri 8/17/18 |
Thu 9/20/18 |
|
monitoring of Digitalization phase |
120 days |
Thu 3/22/18 |
Wed 9/5/18 |
Milestone is defined as wherein the tasks are having zero duration and it helps in signifying completion of different crucial component in the project. The entire sequence of the different events helps in signifying that the completion of the specific phases is known as milestone and it will not have any kind of impact on time span and this will help in defining the different stages that are as follows:
|
Task Name |
Duration |
Start |
Finish |
|
milestone 1: change management plan developed |
0 days |
Tue 6/12/18 |
Tue 6/12/18 |
|
milestone 2: Business processes re engineered |
0 days |
Thu 7/12/18 |
Thu 7/12/18 |
|
milestone 3 |
0 days |
Thu 8/16/18 |
Thu 8/16/18 |
|
milestone 4: Digitalization phase completed |
0 days |
Thu 3/22/18 |
Thu 3/22/18 |
|
Milestone 5: Business process digitalization completed |
0 days |
Wed 9/5/18 |
Wed 9/5/18 |
Summary Schedule and Timeframe
|
Task Name |
Duration |
Start |
Finish |
Predecessors |
|
Digital Technology Implementation plan |
131 days |
Thu 3/22/18 |
Thu 9/20/18 |
|
|
Proposing change management |
64 days |
Thu 3/22/18 |
Tue 6/19/18 |
|
|
Examining the organizational processes |
3 days |
Thu 3/22/18 |
Mon 3/26/18 |
|
|
identifying the areas needed to be digitalized |
6 days |
Tue 3/27/18 |
Tue 4/3/18 |
2 |
|
Develop initial draft |
50 days |
Wed 4/4/18 |
Tue 6/12/18 |
3 |
|
develop the final draft |
2 days |
Wed 6/13/18 |
Thu 6/14/18 |
4 |
|
Deploy Change management plan |
3 days |
Fri 6/15/18 |
Tue 6/19/18 |
5 |
|
milestone 1: change management plan developed |
0 days |
Tue 6/12/18 |
Tue 6/12/18 |
4 |
|
Process for Business Re-engineering |
22 days |
Wed 6/13/18 |
Thu 7/12/18 |
|
|
processes documented in functions |
2 days |
Wed 7/11/18 |
Thu 7/12/18 |
11 |
|
current processes reviewed |
7 days |
Wed 6/13/18 |
Thu 6/21/18 |
7 |
|
Develop best practices |
8 days |
Fri 6/22/18 |
Tue 7/3/18 |
9 |
|
workshop for digitalization |
5 days |
Wed 7/4/18 |
Tue 7/10/18 |
10 |
|
milestone 2: Business processes re engineered |
0 days |
Thu 7/12/18 |
Thu 7/12/18 |
12 |
|
Digitalization requirements |
25 days |
Fri 7/13/18 |
Thu 8/16/18 |
|
|
submit the first draft of digitalization process |
2 days |
Fri 8/10/18 |
Mon 8/13/18 |
17 |
|
review digitalization |
3 days |
Tue 8/14/18 |
Thu 8/16/18 |
18 |
|
documents requirement into systems |
5 days |
Fri 8/3/18 |
Thu 8/9/18 |
16 |
|
clarifying the requirements |
10 days |
Fri 7/13/18 |
Thu 7/26/18 |
13 |
|
requirement confirmation work |
5 days |
Fri 7/27/18 |
Thu 8/2/18 |
15 |
|
milestone 3 |
0 days |
Thu 8/16/18 |
Thu 8/16/18 |
19 |
|
Digitalization phase |
25 days |
Fri 8/17/18 |
Thu 9/20/18 |
|
|
Software development |
10 days |
Fri 8/17/18 |
Thu 8/30/18 |
20 |
|
Integration into the organizational business model |
15 days |
Fri 8/31/18 |
Thu 9/20/18 |
22 |
|
milestone 4: digitalization phase completed |
0 days |
Thu 3/22/18 |
Thu 3/22/18 |
|
|
monitoring of Digitalization phase |
120 days |
Thu 3/22/18 |
Wed 9/5/18 |
|
|
developing suitable infrastructure |
30 days |
Thu 3/22/18 |
Wed 5/2/18 |
24 |
|
identifying the drawbacks |
60 days |
Thu 5/3/18 |
Wed 7/25/18 |
26 |
|
Customization |
30 days |
Thu 7/26/18 |
Wed 9/5/18 |
27 |
|
Milestone 5: Business process digitalization completed |
0 days |
Wed 9/5/18 |
Wed 9/5/18 |
28 |
|
Task Name |
Resource Names |
Cost |
|
Digital Technology Implementation plan |
$201,800.00 |
|
|
Proposing change management |
$134,160.00 |
|
|
Examining the organizational processes |
finance manager, human resource manager, managing director, operation manager, Project manager |
$6,720.00 |
|
identifying the areas needed to be digitalized |
finance manager, human resource manager, managing director, operation manager, Project manager |
$13,440.00 |
|
Develop initial draft |
finance manager, human resource manager, managing director, operation manager, Project manager |
$112,000.00 |
|
develop the final draft |
Project manager |
$800.00 |
|
Deploy Change management plan |
Project manager |
$1,200.00 |
|
milestone 1: change management plan developed |
$0.00 |
|
|
Process for Business Re-engineering |
$30,480.00 |
|
|
processes documented in functions |
finance manager, human resource manager, managing director, operation manager, Project manager |
$4,480.00 |
|
current processes reviewed |
finance manager, human resource manager, operation manager |
$7,280.00 |
|
Develop best practices |
finance manager, human resource manager, operation manager, Project manager |
$11,520.00 |
|
workshop for digitalization |
finance manager, human resource manager, operation manager, Project manager |
$7,200.00 |
|
milestone 2: Business processes re engineered |
$0.00 |
|
|
Digitalization requirements |
$8,080.00 |
|
|
submit the first draft of digitalization process |
operation manager, software developer, system engineer, testing engineer |
$1,360.00 |
|
review digitalization |
operation manager, software developer, system engineer, testing engineer |
$2,040.00 |
|
documents requirement into systems |
software developer |
$480.00 |
|
clarifying the requirements |
software developer, system engineer, testing engineer |
$2,800.00 |
|
requirement confirmation work |
software developer, system engineer, testing engineer |
$1,400.00 |
|
milestone 3 |
$0.00 |
|
|
Digitalization phase |
$7,000.00 |
|
|
Software development |
software developer, system engineer, testing engineer |
$2,800.00 |
|
Integration into the organizational business model |
software developer, system engineer, testing engineer |
$4,200.00 |
|
milestone 4: digitalization phase completed |
$0.00 |
|
|
monitoring of Digitalization phase |
$22,080.00 |
|
|
developing suitable infrastructure |
system engineer, testing engineer |
$5,520.00 |
|
identifying the drawbacks |
system engineer, testing engineer |
$11,040.00 |
|
Customization |
system engineer, testing engineer |
$5,520.00 |
|
Milestone 5: Business process digitalization completed |
managing director, operation manager, software developer, system engineer, testing engineer |
$0.00 |
|
Name |
Start |
Finish |
Remaining Work |
|
managing director |
Thu 3/22/18 |
Wed 9/5/18 |
488 hrs |
|
finance manager |
Thu 3/22/18 |
Thu 7/12/18 |
648 hrs |
|
operation manager |
Thu 3/22/18 |
Wed 9/5/18 |
688 hrs |
|
human resource manager |
Thu 3/22/18 |
Thu 7/12/18 |
648 hrs |
|
Project manager |
Thu 3/22/18 |
Thu 7/12/18 |
632 hrs |
|
system engineer |
Thu 3/22/18 |
Thu 9/20/18 |
1,320 hrs |
|
testing engineer |
Thu 3/22/18 |
Thu 9/20/18 |
1,320 hrs |
|
software developer |
Fri 7/13/18 |
Thu 9/20/18 |
400 hrs |
|
Name |
Cost |
Baseline Cost |
Cost Variance |
|
managing director |
$48,800.00 |
$0.00 |
$48,800.00 |
|
finance manager |
$32,400.00 |
$0.00 |
$32,400.00 |
|
operation manager |
$34,400.00 |
$0.00 |
$34,400.00 |
|
human resource manager |
$19,440.00 |
$0.00 |
$19,440.00 |
|
Project manager |
$31,600.00 |
$0.00 |
$31,600.00 |
|
system engineer |
$15,840.00 |
$0.00 |
$15,840.00 |
|
testing engineer |
$14,520.00 |
$0.00 |
$14,520.00 |
|
software developer |
$4,800.00 |
$0.00 |
$4,800.00 |
The risk management is the important component of the entire project management process that helps in involving the different identification, analysis along with mitigation of the different possible kind of risks. The analysis of the risk is executed in order to identify the different factors of risk and the level of priority that has to be categorized along with avoiding depending on the entire priority. The entire illustration of the risk priority can be done with the occurrence of the factor of risk during the overall period of time.
|
Risk Description |
Delay in receiving essential components of CRM |
Unexpected External issues |
|
Priority |
Medium |
Medium |
|
Summary |
There can be issues related to the security of the data and there can be theft of data as well |
The project manager will be requiring to prepare themselves for the expected kind of incident as that can affect the execution of the different tasks in the project |
|
Affected Area |
It will be affecting the digitization process wherein the development of the model of digitization will be delayed and this can delay in the delivery of entire project |
There are different kind of unexpected kind of risks that has to be analyzed as this can affect in any phase of the project |
|
Mitigation Plan |
It has to develop different kind of components on their own |
This will be depending on the different kind of possible risk factor that are identified on the basis of register of risk |
|
Risk |
Time delay in approval of the CRM integration and interface document |
Failure in customization of the new CRM model |
Changes in the requirements |
|
Priority |
Medium |
High |
High |
|
Summary |
There can be delay in the approval of digitization interfacing and interfering model that will affect the entire time schedule of the project |
The respective part is essential in nature as the customization of the digitization model as per the different needs of the organization is the way of achieving success |
The entire change in the requirement of the different deliverables will be causing delay in the entire process that is remaining in nature |
|
Affected Area |
Time span of the entire project |
Overall project |
Time span |
|
Mitigation Plan |
Proper digitization has to be implemented in an effectual manner that will help in understanding and providing different kind of details of the meetings and authorization of the process |
The requirements of the organization will be required to be analyzed in an effectual manner as to identify the different characteristics as the implementation tool |
There are different kind of changes that is required during initial phases of the project and this will have less impact on the overall project |
The communication plan is developed in an effectual manner as to reduce the different possibility of the delays in the different phases of the project. There should be accurate and effective communication both for internal and external stakeholders. Furthermore, the communication plan will help in providing transparency and accountability as this will help in understanding the communication plan as to schedule different kind of activities among the internal and external stakeholders. The project manager will be conducting meeting in a weekly manner as this will help in discussing about the constraints and this provides ways to handle the process in a better and effective manner.
|
Meeting |
Participant |
Purpose |
Date |
|
Proposing change management
|
finance manager, human resource manager, managing director, operation manager, Project manager |
This is the meeting conducted before initiation of the project. This will consist of discussing the project scope, deliverables, milestones, risk factors and barriers |
March 2018 |
|
Meeting after commencement of the plan |
finance manager, human resource manager, managing director, operation manager, Project manager |
This meeting will discuss the status of the project which will consist of evaluating the current phase and the problems faced by the team. |
April 2018 |
|
milestone 1: change management plan developed |
finance manager, human resource manager, managing director, operation manager, Project manager, software developer, system engineer, testing engineer |
This phase will determine the change management document |
June 2018 |
|
milestone 2: Business processes re engineered |
finance manager, human resource manager, managing director, operation manager, Project manager, software developer, system engineer, testing engineer |
In this meeting digitalization of the business processes will be discussed to develop suitable requirements |
July 2018 |
|
milestone 3 |
finance manager, human resource manager, managing director, operation manager, Project manager, software developer, system engineer, testing engineer |
The digitalization requirement will be analyzed and finalized in this phase |
August 2018 |
|
milestone 4: Digitalization phase completed |
finance manager, human resource manager, managing director, operation manager, Project manager, software developer, system engineer, testing engineer |
In the phase the success of the process implemented will be identified. |
September 2018 |
|
Milestone 5: Business process digitalization completed |
finance manager, human resource manager, managing director, operation manager, Project manager, software developer, system engineer, testing engineer |
In the meeting the overall completion of the project will be discussed along with the risk factor, extra costs and further changes required. |
March 2019 |
Conclusion
Therefore, it can be concluded that proper digitization process has to be implemented by HSBC Bank as this will help in understanding the different operational efficiency of the organization. The current issues that has been faced by the respective bank will be reduced by implementation of the change management plan and this will help in solving such issues in an efficient manner.
References
Gomez, G. and Tejedor, G., 2015. Monitoring of social networks and their links with the external communication plan of Cofrentes NPP. Nuclear Espana (1996), 366, pp.71-73.
Grewal, R., 2017. Journal of Marketing Research: Looking Forward.
Jones, K., Hollands, G.J., Shemilt, I., Doyle, J. and Armstrong, R., 2016. Planning and implementing a targeted and strategic dissemination plan for a Cochrane review: a case study. Journal of Public Health, 38(3), pp.630-632.
Nagaraj, A., 2016. Does copyright affect reuse? evidence from the google books digitization project.
Ogilvie, B., 2016. Scientific archives in the age of digitization. Isis, 107(1), pp.77-85.
Page, L.M., MacFadden, B.J., Fortes, J.A., Soltis, P.S. and Riccardi, G., 2015. Digitization of biodiversity collections reveals biggest data on biodiversity. BioScience, 65(9), pp.841-842.
Pandey, P. and Misra, R., 2014. Digitization of library materials in academic libraries: Issues and challenges. Journal of Industrial and Intelligent Information Vol, 2(2).
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