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Project management in a bank

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I know that project management can be now applied in the software industry, in the construction industry, in the engineering industry, etc... I also know that project management is now successfully applied to law firms (legal project management). It seems that project management is spreading its tentacles to reach every profession... But, I have not heard yet of PM in the banking sector. Can PM be applied there? If yes, then how?
asked 9 years ago by anonymous

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I haven't heard of bank project management before, and I'm not sure I'm going to hear about it anytime soon. Typical bank activities are all routine tasks, there are no projects. Opening an account, for example, is just a small task that takes minutes, and it doesn't need to be elevated to the status of a project. I can't think of any routine bank activity that can be called a project.

However, I can see where project management would be useful in a bank, and it's where the bank is creating a new package for example (this package might be a new type of account). First they have to brainstorm, and then they have to plan for this new type of account, and then they'll have to execute the project (handle marketing/advertising, update the website's content, update the systems to handle this type of account, etc..), then the project will be monitored and controlled, and finally closed.

I think there is a decent amount of project management involved in the creation of a new type of account, and thus we might hear in the future that we have a new type of project management, which is the bank project management. But for now the only type of PM in the bank is the IT Project Management (as far as I know).
answered 9 years ago by MaplePM (46,940 points)

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