Wall Street Private Bank Portfolio Management Application Recovery

Situation - Key System Development Delayed and Over Budget:

The Private Banking Division of a top 3 wall street Investment Bank outsourced a $12 Million program to develop the software for portfolio management, trade order entry and account management for it’s private banking clients to a third party systems integrator.  Three parallel development projects were delayed beyond their original delivery schedule and cost estimates for completion ran at double the original committed cost.

Solution - Re-prioritize Design and Re-Sequence Delivery Priorities:

Members of Capto intervened in the development effort to review and re-prioritize the design, re-sequence and reschedule the delivery of functionality so that the most important business functionality was delivered when required.  The work plan was re-partitioned and the project team re-organized to optimize speed and a new governance process and governance group was established to ensure that sponsors and stakeholders were immediately involved in decisions that would affect delivery dates, staffing, prioritization or other project outcomes.

The project delays, staffing and cost overruns were cut in half, saving the client over $6 Million and delivering critical components of the system on time.