A core banking implementation program was in situation management and had failed to go live three times and had been put into situation management. The project team was not able to identify the cause of repeated failure.
This was not only resulting in losses due to sub par customer experience but also on account of maintaining the project team on an ongoing basis. The situation was further complicated by the project team not being able to attribute a cause to the failure because of which the project could not be closed for accounting purpose.
A 360 degree review was conducted involving wing to wing review of project artefacts starting from examination of terms of reference through business requirements, technology solution review and examination of the vendor contract.
Various causes of failure were isolated and the current state determined. Conculsion of the review was lack of contractual clarity and accountability for requirements, specifications and design which was the reason for the project not being able to go live and team being made accountable.
A fast paced analysis and requirements definition exercise was undertaken with alignment to problem and outcome definition. This was followed by re-design of the technology solution, removing implementation bottlenecks and contracts updated to clearly define handovers, scope and accountability.
Three solution options along with costing and timelines were presented to the steering committee who chose a phased approach with reduced scope.
