Project Management Institute

Wise investment

Becky Lo, PMP,
is regional head of client onboarding for Citi's
Global Transaction Services in Asia Pacific,
Hong Kong.


As more and more projects go global, Citi must factor in the variances of geography, business processes, culture and stakeholders involved. Our job is to ensure deliverables meet customers’ needs and are completed on time and within budget. Project management is helping Citi serve more than 95 percent of the world's Fortune 500 companies across 100 countries, as well as financial institutions and public-sector entities from around the globe. Our services span cash management, trade, securities and fund services, and are part of Citi's Global Transaction Services, one of the company's fastest-growing business units.

In 2005, our implementation unit started to employ an enterprise-wide project management methodology based on A Guide to the Project Management Body of Knowledge (PMBOK® Guide). We apply these methodologies across a wide range of projects from initiating the implementation to planning, executing, monitoring and controlling, and closing. A steering committee oversees this process and provides management support. The benefits we have seen from our clients and internally have been significant.

Having [senior-level support] ensures resources are available and fosters a environment for promoting project development and stakeholder buy-in.

Cycle time and client satisfaction are our key measuring criteria in project implementations. During the project execution, we focus on scope planning, change management, documentation handling, systems setup, testing and training.

To monitor the thousands of projects we manage each year across the globe, Citi uses an information system that provides historical project data and enables effective resource assignment and proactive tracking. The system also provides a high-level snapshot of client project records, which allows management to see the status of deals, the team responsible for executing the implementation and the part of the life cycle the project is in.

Among Citi's best practices is strong senior and sponsor support at both the portfolio and project level. Having this ensures resources are available and fosters a good environment for promoting project development and stakeholder buy-in.

The company has also embedded a project management education and certification track in its career development program, which includes training for the Project Management Professional (PMP®) certification. This helps us develop a cadre of professional implementation managers providing best-in-class service.

Project management has helped Citi manage projects in a more efficient manner. Many of our regional shared service center clients have seen up to a 40 percent reduction in operational expenses as a result of our implementations. In addition, our electronic banking platforms can now handle an annual volume of 48 million transactions, and our post-implementation satisfaction rate stands at 88 percent. PM


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