Magazine article PM Network

Wise Investment

Magazine article PM Network

Wise Investment

Article excerpt

As more and more projects go global, Citi must factor in the variances of geography, business processes, culture and stakeholders involved. Our job is to ensure deliverables meet customers' needs and are completed on time and within budget. Project management is helping Citi serve more than 95 percent of the world's Fortune 500 companies across 100 countries, as well as financial institutions and public-sector entities from around the globe. Our services span cash management, trade, securities and fund services, and are part of Citi's Global Transaction Services, one of the company's fastest-growing business units.

In 2005, our implementation unit started to employ an enterprise-wide project management methodology based on A Guide to the Project Management Body of Knowledge (PMBOK® Guide). We apply these methodologies across a wide range of projects from initiating the implementation to planning, executing, monitoring and controlling, and closing. A steering committee oversees this process and provides management support. The benefits we have seen from our clients and internally have been significant.

Cycle time and client satisfaction are our key measuring criteria in project implementations. During the project execution, we focus on scope planning, change management, documentation handling, systems setup, testing and training.

To monitor the thousands of projects we manage each year across the globe, Citi uses an information system that provides historical project data and enables effective resource assignment and proactive tracking. …

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