Initiate and Plan

Initiate

• Project Definition: Understand / Define the Business Case

• Complete the Project Charter

• Complete the Statement of Work

• Project constraints and Problem Statement

• Identify Project Team Members and Stakeholders

Plan

• Identify Resources and Complete the Resource Plan

• Develop a Detailed Project Plan

• Develop Functional Design Document

• Establish Project Timeframe

• Assess Project Risks and Summarize in Risk Assessment

Bank Subject Matter Expertise

♦ Enterprise Strategic Planning
♦ Data Processing Core and Ancillary Systems Selection, Implementation and Contract Negotiation
♦ Information Technology
♦ Enterprise Risk Management
♦ Banking Operations
♦ Mergers and Acquisition
♦ De Novo Launch Setup
♦ Cyber & Information Security
♦ Vendor Management Program

Project Conception and Initiation

This is the start of the project, and the goal of this phase is to define the project and the business case.  Research is performed to determine if it should be undertaken.

Sentinel Project Management works with important stakeholders to perform due diligence to determine if the project is properly defined. If it is given the green light, a project charter and scope of work is created that outlines the purpose and requirements of the project. The Project charter includes business needs, stakeholders, and the business case. 

Project Definition and Planning

This phase is key to successful project management and focuses on developing a project roadmap that everyone will follow. This phase typically begins with setting goals. 

During this phase, the scope of the project is defined and a project management plan is developed. It involves identifying the cost, quality, available resources, and a realistic timetable. The project plans also includes establishing baselines or performance measures. These are generated using the scope, schedule and cost of a project. A baseline is essential to determine if a project is on track.