Dinesh Maurya – 77989      Pro-seminar on Study MethodologyRole of Project Management in Financial Services                        1. Research GoalTo find out the most suitable project management methodology in financial industry.       2.  HypothesisDespite of government imposing rules and regulation through regulators, project Management methodologies are still required to storm through volatile and risky nature of the industry for organizations to succeed in delivering financial product and services to its customer effectively.   3. Justification of the subjectWhen it comes to project management methodology, I find myself eager to explore in the respective field and its connection with the financial industry. In my early days I have invested my time in project management which became the base for me as it lead me to believe that I could perform best if acquired the right knowledge in finance. Hence, here I am pursuing the path of finance. I believed that through finance I could truly find the importance and role of project management. Therefore I tried to amalgamate both the fields. 4. ResearchFor a Layman, an organization is at its peak level if its turnover and profit levels are high. But only an expert would know that any organizations progress lies in how effectively and efficiently it achieves its goals.  For the above goal to take place, manager plays a vital role by applying various methodologies for the success of the organization. Here methodology acts as a means to effectively achieve the numerous goals or objectives put forward by the organization.The field of financial services thrives to succeed at numerous projects with the help of due diligence practices. Scrutiny of each and every project is mandatory for the investors have vested high stakes into the respective projects. There are various instances where a project manager can shine his way though applying different methodologies which might attain success for the organization. One must know it’s the performance of the managers that leads the organization to its optimum level. For this there is a supporting data which proves how various project management methodologies which the manager might apply help the organization. The data is as follows: Agile Software development: This methodology outshines various characteristics such as short-termed delivery cycles, dynamic team culture, agile requirements, and emphasis on prompt communication as well as few restrictions on the project control. Crystal method: This methodology solemnly focuses on how the project lays more emphasis on team communication. The processes of the project are given less priority and more attention to team communication to ensure all are on the same page. Adaptive project framework: Every methodology focuses on the importance of time. This methodology does the same. It’s based on time and cost being constant for the whole project.Coming to a conclusion according to my research the data guides me to believe that agile methodology remains the best methodologies to apply within the financial services industry. Agile methodology thrives to be a system that enhances quality and helps organizations improve their business value and brand. It focuses on involvement of client in the respective project there by forming a total transparency in the organization. Financial services industry despite having pressure from the external environment thrives successfully.  Hence to run this one requires management which will initiate change across different departments of the organization. It is upon the various organizations to operate within the guidelines provided by the government. Government’s major policies and regulations are promulgated to make the organization achieve transparency.This in turn helps ensure that the organizations release accurate and audited financial information that can be used to gauge their financial health. Hence it results in boost in investor confidence as well as encourages growth and investment within the industry. Agile methodology in financial services industry: According to the data, since the financial crisis of 2007, the financial industry has been having various regulatory changes all aimed at ensuring such a crisis does not happen again in future.For instance, in banking sector, customers are able to access their money 24 hours a day without any limitations. Such has been made possible through online banking and mobile banking services that allow the customer to access banking services anywhere anytime. Over the course of my research I have come across the data that says agile methods have proven to be among the best to test the conventional methodologies to software development in most organizations. However, few suggest that agile methods are not always the best for every project in a financial organization. Therefore each project requires its own methodology to enable it to bring the desired benefits that are required by the management. To implement the agile method, there is the need to carry out training for the individuals involved in management of the project. The success of the agile methodology relies heavily on the ability of those tasked with employing it in the project management. These individuals need to possess thorough knowledge about the system as well as all other requirements. The manager need not exercise governance control as there is an enhanced speed of change in this methodology and hence requires flexibility approach. However, there is need to adjust project processes and controls to enable them to meet particular needs of a project.In conclusion I would like to stress on the fact that every organization might thrive differently but agile has proven to be effective on multiple occasions. Thus, the manager needs to apply its knowledge regarding the field of finance as well as must know how to amalgamate it with the methodology which in turn would help the organization attain its success in respective projects. I hope the above elaborate dissertation have outshined the major aspects of project management as well as its role in collaboration with the field of finance.


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