Managing Complex Technology Programs

2007-12-20

Technology has been widely used in the International Financial industry to enhance competitiveness and reduce cost of operation. However, a few of the major international banks and financial institutions that embarked into the technology outsourcing program have voiced their concerns that the program was much sophisticated than their initial thought.

Outsourcing is the transfer of direct managerial responsibility, but not accountability, to an unaffiliated, third-party service provider who performs services previously delivered by internal staff and management. Several factors innate to outsourcing give rise to potential quality, operational, compliance and reputation risks and therefore increase the overall project complexities and risks of the program.

Project Managers need to be skilled in negotiating and administering outsourcing arrangements and monitoring the inherent risks at the service provider in additional to exercising the day to day Project Management activities. If not, the provider may deliver sub-par service or even fail to deliver some critical business activity, possibly resulting in a business disruption.

An in-house coordination and communication mechanism is needed to coordinate internally among business units, externally among several service providers, and between the internal and external groups.

Ronald Wah will share his hands on experiences in dealing with complex technology-driven programs, the do and donts in project communication and managing a virtual team.

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