Take stock

The numerous early-21st century corporate scandals that have rippled through the international marketplace have changed the way the financial services industry conducts business. Today, new government regulations are in place to prevent future cases of fraud. And stockholders are demanding more organizational transparency and executive accountability. This article examines how the naturally risk-averse financial services industry is adopting and adapting project management to improve operations and mitigate business risks. In doing so, it explains how companies in this industry are implementing projects to establish oversight committees and improve internal review processes; it discusses the structural shift these companies are instituting, a shift involving high-performance operations teams and holistic process management approaches. It then identifies the responsibilities of project portfolio managers, the challenge of managing projects in banking environments, and the shortcomings of the industry's current
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