Project management in financial engineering
Financial institutions have only recently seen a trend toward the increasing development of financial products. This article presents the results of a survey exploring how fundamental project management concepts such as operations management, organizational structure, and new product development processes are applicable to the disciplines of financial engineering and financial product development. Among the concepts with potential for cross-fertilization are the Work Breakdown Structure (WBS) as applied to financial products, and the matrix organization for financial product development. Three top management approaches with promise for financial product development are the holistic approach, the product team approach, and the intrapreneurial approach. Financial engineers need to be skilled in diversity management, boundary-spanning management, and technical core management.