Summary
Through improving training and awareness as well as delegating greater authority for program compliance, IT project life cycle compliance at a leading global investment bank’s technology division improved significantly, reducing regulatory risk.
Situation
A leading global investment bank’s Technology division was trying to improve their compliance metrics for IT project life cycle activities. Compliance had consistently been 85-88% over the last six months, with several project managers not completing their required actions. This was despite the Division’s PMO following-up repeatedly with project managers for them to become compliant. Our team was engaged to improve compliance and to reduce the Division PMO’s burden of following-up and chasing project managers each month.
Satori Solution
We developed a two-pronged approach to improve IT project compliance: improving training and awareness; and giving project managers ownership and responsibility of program compliance. We worked closely with a web development team to refine an existing proprietary tool to measure and report PLC compliance. Project managers were then trained and required to access the tool themselves and complete their compliance actions. We ensured that the Division PMO was no longer responsible for chasing project managers, and instead, project managers were individually responsible for becoming compliant by deadline day each month
Results
PLC Compliance improved to 98-100%, significantly reducing regulatory risk. There was also an improved level of awareness within the division on PLC compliance.