Pub. 4 2015 Issue 2

The CommunityBanker 16 Having One Can Help Tie Project Results to Strategic Plan Goals W e hear a lot about corporate culture these days. There are sales cultures, customer-focused cultures, employee-centered cultures and combinations of all of the above. Another, less- talked-about, but meaningful type is the project management culture. Project management is the application of knowledge, skills and techniques to execute proj- ects effectively and efficiently. Put another way, it’s a tool or methodology for reliably delivering desirable outcomes. A project management culture is defined by how well a bank as a whole embraces project management, and uses this tool to improve and achieve strategic goals. Having a project management culture can be considered a strategic competency for banks, enabling them to tie project results to strategic plan goals—and, thus, better manage risks and compete. A concrete reason I think having a project management culture is worthwhile is that knowing how to run specific projects—with defined objectives and expected outcomes—can provide a mechanism for you as a leader to test different ways for your employees to communicate and interact with each other. If a particular practice is deemed effective, it can be rolled out to the entire organization. Other project management culture benefits include making your Bank more flexible, effective and better able to manage costs. For example, having a project management framework in your organization makes you fully ready to put together an effective team to deal with an unexpected regula- tory change or to roll out a new product. Project manage- ment—together with an organizational culture that embraces it—is an excellent vehicle through which such goals can be achieved. Setting up the Culture But before you can reap the benefits of having a project management culture, you have to establish one. Here are some things you’ll want to tackle if you’re building the foundation for a project management culture in your shop. Get buy-in and lead from the front. As a leader, you— backed by your board—must communicate clearly to employ- ees that getting on board with the project management train is not optional, but expected. This is achieved through good, repeated communication and getting managers involved from the beginning. Set up project management as an opportunity, not a punishment. Most banks can’t afford to hire or to allow a B y Ancin Cooley, Principal of Synergy Bank Consulting Inc.