Consolidated Plan for Wells Fargo's CRM System Implementation
Background:
Wells Fargo (WF), currently the seventh most profitable company in the United States, is entrusted with
managing approximately $1.9 trillion in assets and serving around 70 million customers. The
organization recognizes the need to stay organized and efficient in handling its vast customer base and
financial assets. To achieve this, WF has decided to develop and launch a state-of-the-art Customer
Relationship Management (CRM) system. This system aims to synchronize all of WF's services, including
banking, investing, credit cards, and mortgages, to enhance customer interactions and streamline
business processes.
Importance of a Consolidated Plan:
A consolidated plan is essential for the successful initiation, implementation, and reporting of the CRM
system project. It serves as a comprehensive roadmap that aligns communication, technology, and
resources towards achieving the project's objectives within the stipulated time and budget. The
importance of a consolidated plan for this project can be highlighted in the following aspects:
Efficient Data Management: A consolidated plan ensures that the development and implementation of
the CRM system prioritize efficient data management. This is crucial for WF, considering the vast
amount of customer data and financial information it handles.
Task Automation and Productivity: By having a consolidated plan, WF aims to automate routine tasks
through the CRM system. This will lead to increased end-user productivity, allowing the organization to
focus on high-value work rather than spending excessive time on manual processes.
Cost Management: The consolidated plan outlines the projected cost of the CRM system
implementation, which in this case is $25 million. This financial roadmap ensures that the project is
executed within the allocated budget, preventing cost overruns.
Time Efficiency: The 12-month timeline set for the project is crucial for WF to stay competitive and meet
market demands. A consolidated plan will help in tracking progress, identifying potential delays, and
ensuring timely completion of the CRM system.
Risk Mitigation: The plan addresses concerns such as data security and staff resistance to change. By
proactively identifying and addressing these issues, WF aims to mitigate risks that could impact the
successful implementation of the CRM system.
Technical Debt Reduction: A consolidated plan allows for a strategic approach to technology
implementation, minimizing technical debt. This ensures that the CRM system aligns with current
industry standards and is scalable for future innovations.
Innovation and Business Growth: By consolidating project planning, application, and reporting
processes, WF aims to create a foundation for innovation and business growth. The CRM system is not
just a tool for current needs but a platform that can evolve with changing customer expectations and
technological advancements.
In summary, a consolidated plan is integral to the success of the CRM system project by providing a
structured approach to planning, implementing, and reporting progress. It acts as a guiding document,
ensuring that WF's resources are optimally utilized to achieve the desired outcomes while addressing
potential challenges in a proactive manner
Define the Proposed Project:
Project Scope Definition:
The proposed project for Wells Fargo (WF) involves the development and launch of a state-of-the-art
Customer Relationship Management (CRM) system. The CRM system is intended to synchronize and
optimize various services offered by WF, including banking, investing, credit cards, and mortgages. The
project scope encompasses the entire lifecycle of the CRM system, from initiation to implementation
and reporting.
Objectives:
The primary objectives of the CRM system implementation project are as follows:
Efficient Data Management: Develop a CRM system that ensures secure, organized, and efficient
management of the vast customer data and financial information handled by WF.
Task Automation and Productivity: Implement automation features within the CRM system to reduce
manual workload, enhance end-user productivity, and allow focus on high-value work.
Cost Management: Execute the project within the allocated budget of $25 million to prevent cost
overruns and ensure financial efficiency.
Time Efficiency: Deliver the CRM system within the 12-month timeline, allowing WF to stay competitive
and meet market demands.
Risk Mitigation: Address concerns such as data security and staff resistance to change to mitigate
potential risks that could impact the successful implementation of the CRM system.
Technical Debt Reduction: Develop a CRM system that aligns with current industry standards,
minimizing technical debt and ensuring scalability for future innovations.
Innovation and Business Growth: Create a foundation for innovation and business growth by developing
a CRM system that adapts to changing customer expectations and technological advancements.
Deliverable Statement:
The primary deliverable of this project is the fully functional CRM system that integrates and optimizes
WF's services, providing a seamless experience for both end-users and employees.
Assumptions:
Assumption is made that the CRM system development team will have access to the necessary
technological resources and expertise required for the project.
Assumption that end-users and stakeholders will actively participate in the testing and feedback phases
for the successful customization and optimization of the CRM system.
Constraints:
Budgetary constraints set at $25 million.
Time constraint of 12 months for project completion.
Existing IT infrastructure and legacy systems must be considered during integration.
Success Factors:
User Adoption: Successful integration and adoption of the CRM system by end-users.
Efficiency Improvement: Demonstrable improvement in data management efficiency and task
automation.
Security Enhancement: Implementation of robust security measures to safeguard customer data.
Timely Delivery: Completion of the project within the 12-month timeline.
Cost Adherence: Staying within the allocated budget of $25 million.
Success Criteria:
End-User Satisfaction: Positive feedback and high satisfaction rates from end-users.
Efficiency Metrics: Measurable improvement in data management and task automation metrics.
Security Audits: Successful completion of security audits ensuring data protection.
Timely Milestone Achievements: Achievement of project milestones within the specified timeframe.
Financial Reporting: Adherence to the $25 million budget.
Exclusion:
The project excludes the overhaul of other existing core banking systems that are not directly related to
the CRM system. Additionally, it does not encompass changes to business strategies or models outside
the scope of CRM system implementation. Any hardware or software upgrades beyond those directly
related to CRM functionality are excluded from this project.
PROJECT ACTIVITIES
Identifying 80 project activities/tasks/packages is quite comprehensive. Below is a breakdown of tasks
essential for the successful completion of Wells Fargo's CRM system implementation project:
Project Initiation:
Define project scope, objectives, and deliverables.
Identify key stakeholders.
Establish the project team and roles.
Develop a project charter.
Feasibility Study:
Assess the feasibility of CRM system implementation.
Analyze potential risks and mitigation strategies.
Evaluate cost-benefit analysis.
Technology Stack Selection:
Research and evaluate CRM system models.
Select an appropriate technology stack based on organizational needs.
Conduct a detailed analysis of available CRM solutions.
Database Design:
Define data requirements and architecture.
Design the database schema.
Establish data security and privacy protocols.
System Architecture Design:
Define the overall system architecture.
Determine integration points with existing systems.
Plan for scalability and future enhancements.
Vendor Selection and Negotiation:
Identify potential CRM system vendors.
Evaluate vendor proposals.
Negotiate contracts and service level agreements.
Project Planning:
Develop a detailed project plan with timelines.
Allocate resources and budget.
Define milestones and deliverables.
Development Kickoff:
Conduct a kickoff meeting with the development team.
Outline development guidelines and coding standards.
Set up version control and collaboration tools.
Database Implementation:
Implement the designed database.
Test data integrity and security measures.
Optimize database performance.
CRM System Customization:
Customize the CRM system to meet specific WF requirements.
Develop and integrate necessary modules and features.
Integration with Existing Systems:
Plan and execute integration with banking, credit, and other existing systems.
Ensure data consistency and real-time updates.
User Interface (UI) Design:
Design a user-friendly interface.
Incorporate branding and design elements.
Ensure accessibility and responsiveness.
User Training Program Development:
Develop a comprehensive user training program.
Create training materials and documentation.
Schedule training sessions.
Testing Strategy Development:
Define a testing strategy and methodology.
Create test cases and scenarios.
Establish a testing environment.
Unit Testing:
Conduct unit testing for individual components.
Address and fix identified bugs and issues.
Verify proper functionality of each unit.
Integration Testing:
Perform integration testing to ensure seamless system interaction.
Validate data consistency across integrated systems.
System Testing:
Execute end-to-end system testing.
Simulate real-world scenarios.
Identify and address any system-level issues.
User Acceptance Testing (UAT):
Conduct UAT with end-users.
Gather feedback and address concerns.
Ensure the CRM system meets user expectations.
Security Auditing:
Conduct security audits.
Implement and test security measures.
Address vulnerabilities and risks.
Performance Testing:
Test system performance under various loads.
Optimize performance based on test results.
Ensure system responsiveness.
Data Migration:
Develop a data migration plan.
Migrate existing data to the new CRM system.
Validate data accuracy and completeness.
Change Management:
Develop a change management plan.
Address staff resistance to change.
Communicate changes and benefits to employees.
Documentation:
Create comprehensive system documentation.
Develop user manuals and guides.
Document system architecture and integration points.
User Training Sessions:
Conduct scheduled user training sessions.
Provide hands-on training with the CRM system.
Address user queries and concerns.
Deployment Planning:
Develop a deployment plan.
Identify potential deployment risks.
Ensure a rollback plan in case of issues.
System Deployment:
Deploy the CRM system to production.
Monitor deployment for any issues.
Verify system availability and performance.
Post-Deployment Review:
Conduct a post-deployment review.
Gather feedback from end-users and stakeholders.
Address any post-deployment issues.
Performance Monitoring:
Implement ongoing performance monitoring.
Continuously optimize system performance.
Address any emerging performance issues.
Maintenance and Support Planning:
Develop a maintenance and support plan.
Establish a support team and processes.
Plan for regular system updates and patches.
End-User Support:
Provide ongoing support to end-users.
Establish a helpdesk or support system.
Address user issues in a timely manner.
Documentation Updates:
Update system documentation as needed.
Ensure all changes are accurately documented.
Provide updated user manuals and guides.
Performance Reporting:
Implement a system for performance reporting.
Monitor key performance indicators (KPIs).
Generate regular performance reports.
Project Progress Meetings:
Schedule regular project progress meetings.
Provide updates on milestones and deliverables.
Address any emerging issues or concerns.
Stakeholder Meetings:
Hold regular meetings with key stakeholders.
Discuss project status and any changes.
Gather feedback and insights.
Review Points:
Establish review points at key project stages.
Conduct reviews of development, testing, and deployment phases.
Ensure adherence to project guidelines.
Quality Assurance Reviews:
Conduct quality assurance reviews.
Ensure that all deliverables meet quality standards.
Address any deviations from quality expectations.
Regulatory Compliance Check:
Ensure the CRM system complies with relevant regulations.
Conduct a thorough regulatory compliance check.
Implement necessary changes for compliance.
Continuous Improvement Meetings:
Hold meetings to discuss continuous improvement opportunities.
Identify areas for enhancement in the CRM system.
Plan for future updates and features.
Risk Monitoring and Mitigation:
Continuously monitor project risks.
Implement mitigation strategies as needed.
Ensure proactive risk management.
Project Closure Planning:
Develop a project closure plan.
Identify closure tasks and responsibilities.
Plan for a project completion celebration.
This list provides a comprehensive set of tasks required for the successful completion of the CRM system
implementation project. It covers activities related to selecting a CRM system model, choosing a
technology stack, database design, system integration, testing, user training, and other essential aspects
of project management.
Step 1: Creating a Gantt Chart using Microsoft Project or ProjectLibre
Open Microsoft Project or ProjectLibre.
Enter project tasks, durations, start dates, and dependencies.
Apply constraints based on the given assumptions and holidays.
Generate the Gantt chart.
Step 2: Critical Evaluation of Scheduling and Dependency Techniques
Microsoft Project:
Strengths:
User-friendly interface for task entry.
Automatic calculation of the critical path.
Resource management and workload balancing features.
Weaknesses:
Can be complex for beginners.
License costs might be a constraint for smaller projects.
ProjectLibre:
Strengths:
Open-source and free, making it accessible.
Supports Gantt charts, resource management, and task dependencies.
Weaknesses:
Not as feature-rich as Microsoft Project.
Limited support and community compared to proprietary tools.
Techniques for Defining Dependencies:
Finish-to-Start (FS): Task B cannot start until Task A is finished.
Start-to-Start (SS): Task B cannot start until Task A has started.
Finish-to-Finish (FF): Task B cannot finish until Task A has finished.
Start-to-Finish (SF): Task B cannot finish until Task A has started.
Step 3: Analysis of the Project Network Diagram and Critical Path
Network Diagram:
A visual representation of task dependencies.
Identifies the sequence of tasks and their interdependencies.
Critical Path:
The longest path of tasks that determines the project's overall duration.
Any delay in critical path tasks directly impacts the project timeline.
Analysis:
Identify critical path tasks by determining the longest path.
Tasks with zero float (slack) are on the critical path.
Critical tasks may require additional attention as delays will impact project completion.
Summary:
Gantt charts provide a visual representation of the project timeline.
Microsoft Project and ProjectLibre offer different advantages based on project size and complexity.
Dependency techniques help define the relationships between tasks.
Network diagrams help visualize task interdependencies.
The critical path is crucial for identifying tasks that must be closely monitored to ensure project
completion within the specified timeframe.
For a detailed Gantt chart, I recommend using Microsoft Project or ProjectLibre directly, following the
provided steps. These tools offer comprehensive features for scheduling, dependency management, and
visualization of project progress
Define Resources and Allocate Durations:
Resources Required:
Project Manager: Responsible for overall project coordination, communication, and risk management.
Development Team: Including programmers, database architects, and UI/UX designers for CRM system
development.
Testing Team: Responsible for various testing phases, including unit testing, integration testing, and user
acceptance testing.
IT Support: Providing technical assistance during deployment and addressing post-deployment issues.
Trainers: Conducting user training sessions for staff.
Security Experts: Ensuring the implementation of robust security measures.
Documentation Team: Responsible for creating and updating system documentation.
Allocated Durations:
Project Manager: Full-time throughout the project.
Development Team: 10 months.
Testing Team: 2 months.
IT Support: 1 month.
Trainers: 1 month.
Security Experts: 1 month.
Documentation Team: 2 months.
Estimate Total Project Budget:
Project Manager: $150,000 (annual salary).
Development Team: $12,000,000 (salaries, software licenses, equipment).
Testing Team: $2,400,000 (salaries, testing tools, equipment).
IT Support: $600,000 (salaries, support tools).
Trainers: $300,000 (salaries, training materials).
Security Experts: $300,000 (salaries, security tools).
Documentation Team: $600,000 (salaries, documentation tools).
Total Project Budget Estimate: $16,350,000
Critical Discussion of Tools and Techniques for Project Estimates:
Tools and Techniques:
Expert Judgment: Involves seeking input from experts in the field to estimate project costs based on
their experience.
Analogous Estimating: Uses historical data from similar projects as a basis for estimating costs.
Bottom-Up Estimating: Breaks down the project into smaller tasks and estimates the cost of each task
individually.
Three-Point Estimation: Involves determining optimistic, pessimistic, and most likely estimates to
calculate a weighted average.
Critical Discussion:
Strengths:
Expert Judgment: Incorporates real-world expertise for accurate estimates.
Analogous Estimating: Provides a quick estimate based on historical data.
Bottom-Up Estimating: Offers a detailed and accurate estimation by breaking down the project.
Three-Point Estimation: Accounts for uncertainties by considering optimistic and pessimistic scenarios.
Weaknesses:
Expert Judgment: Can be subjective and dependent on the availability of experts.
Analogous Estimating: Accuracy relies on the similarity between projects.
Bottom-Up Estimating: Time-consuming and may not be suitable for quick estimates.
Three-Point Estimation: May be perceived as complex and time-consuming.
Considerations:
Project Complexity: More complex projects may benefit from detailed bottom-up estimates.
Project Phase: Different techniques may be more suitable at various project phases.
Available Data: The availability of historical data and expert opinions influences the choice of
techniques.
Recommendation:
A combination of expert judgment, analogous estimating, and bottom-up estimating may provide a
balanced and accurate estimation for the CRM system implementation project.
Regularly review and update estimates as the project progresses and more information becomes
available.
In conclusion, selecting the appropriate tools and techniques for project estimates involves considering
the project's characteristics, available data, and the expertise of the project team. A balanced approach
that incorporates various estimation methods can contribute to more accurate and realistic project
budgeting
Update as of June 14, 2024:
Activities 1-20: On schedule.
Activity 21: Started 3 days late.
Activity 22: Finished 2 days late.
Activities 23-42: On schedule.
Activity 43: Finished 5 days late.
Activities 44-55: On schedule.
Activity 56: Start date delayed by 2 days.
Activities 57-80: Not started.
Project Current Situation:
The project has experienced some delays in specific activities, such as Activity 21, Activity 22, and
Activity 43. Activity 56 is yet to start, and activities beyond this point (57-80) have not commenced.
Despite these delays, a significant portion of the project remains on schedule, with activities 1-55
progressing as planned.
Monitoring and Control Mechanisms:
Earned Value Analysis (EVA):
Actual Cost (AC): The actual costs incurred as of June 14, 2024.
Planned Value (PV): The planned costs for the work performed.
Earned Value (EV): The value of the work actually performed.
Schedule Performance Index (SPI) and Cost Performance Index (CPI):
SPI = EV / PV: Measures schedule performance.
CPI = EV / AC: Measures cost performance.
Variance Analysis:
Schedule Variance (SV): SV = EV - PV. Positive values indicate ahead of schedule, negative values indicate
behind schedule.
Cost Variance (CV): CV = EV - AC. Positive values indicate under budget, negative values indicate over
budget.
Earned Value Report:
Planned Value (PV):
PV = Cost Budgeted at the time.
Planned costs for completed work and work in progress as of June 14, 2024.
Earned Value (EV):
EV = Percentage of work complete * Total Budget.
Evaluation of the value of work performed as of June 14, 2024.
Actual Cost (AC):
AC = Actual costs incurred as of June 14, 2024.
Schedule Performance Index (SPI) and Cost Performance Index (CPI):
SPI = EV / PV
CPI = EV / AC
Project Current Assessment:
Planned Value (PV): Calculated based on the original project schedule.
Earned Value (EV): Assesses the actual value of work completed.
Actual Cost (AC): Represents the actual cost incurred.
Interpretation:
Schedule Performance (SPI): A SPI > 1 indicates the project is ahead of schedule.
Cost Performance (CPI): A CPI > 1 indicates the project is under budget.
Discussion:
Activities 21, 22, and 43 Delays: These deviations have impacted both schedule and cost. It's crucial to
understand the causes and implement corrective actions.
Activity 56 Delay: The delayed start of Activity 56 might affect dependent activities and the overall
project timeline.
Monitoring and Control Mechanisms:
Corrective Actions:
Analyze the root causes of delays.
Adjust resources or allocate additional resources if possible.
Reevaluate and adjust the schedule for upcoming activities.
Revised Schedule:
Update the project schedule to reflect the new start date for Activity 56.
Consider reassigning resources to critical activities to mitigate further delays.
Risk Management:
Review and update the risk register.
Implement contingency plans for identified risks.
Continuously monitor and reassess potential risks.
Regular Reporting:
Implement regular progress reporting to stakeholders.
Clearly communicate any changes in the project schedule or budget.
Conclusion:
While a portion of the project remains on schedule, the delays in specific activities require immediate
attention. Implementing effective monitoring and control mechanisms, utilizing earned value analysis,
and taking corrective actions are crucial to bring the project back on track. The revised schedule should
be communicated transparently to stakeholders, and risk management should be an ongoing process to
address emerging challenges.
Waterfall (Traditional) Project Management Approach:
Overview:
Sequential and linear approach.
Divided into distinct phases: initiation, planning, execution, monitoring/control, and closure.
Rigorous planning at the beginning with minimal flexibility for changes.
Well-suited for projects with clear requirements and limited changes expected.
Strengths:
Clear Structure: Well-defined phases make it easy to understand and manage.
Comprehensive Planning: Detailed planning is done at the beginning of the project.
Client Involvement: Client involvement is not required during the development phase, allowing them to
focus on their core tasks.
Weaknesses:
Limited Flexibility: Changes are difficult once the project has started.
Late Deliverables: Clients receive a product only at the end, which might lead to late feedback.
High Risk: If requirements are not well-defined, the project may face challenges.
Applicability:
Best suited for projects with well-defined, stable requirements.
Not ideal for projects where requirements may change frequently.
Agile Project Management Approach:
Overview:
Iterative and incremental approach.
Divided into small, flexible cycles called iterations or sprints.
Emphasis on collaboration, customer feedback, and adaptability to changes.
Delivers a potentially shippable product at the end of each iteration.
Strengths:
Flexibility: Easily adapts to changes in requirements throughout the project.
Continuous Improvement: Regular feedback and continuous improvement are inherent.
Early Deliverables: Clients receive value in the form of working software early in the project.
Weaknesses:
Requires Active Client Involvement: Continuous client collaboration is necessary, demanding their time
and attention.
Documentation Challenges: May lack comprehensive documentation due to the focus on working
software.
Scope Creep: Frequent changes may lead to scope creep if not managed effectively.
Applicability:
Suited for projects with evolving or unclear requirements.
Ideal for projects where frequent client collaboration is feasible.
Contrast:
Approach to Changes:
Waterfall: Resistant to changes once the project is underway.
Agile: Embraces and encourages changes throughout the project.
Client Involvement:
Waterfall: Limited client involvement during development.
Agile: Requires continuous client collaboration and feedback.
Documentation:
Waterfall: Comprehensive documentation is a priority.
Agile: Focuses on working software over comprehensive documentation.
Project Delivery:
Waterfall: Product is delivered at the end of the project.
Agile: Incremental deliverables throughout the project.
Risk Management:
Waterfall: High emphasis on upfront risk assessment.
Agile: Ongoing risk management with adaptability to unforeseen challenges.
Team Structure:
Waterfall: Hierarchical and structured team roles.
Agile: Cross-functional, self-organizing teams.
Conclusion:
The choice between the waterfall and agile approaches depends on the nature of the project, the level
of uncertainty in requirements, and the desired level of client involvement. Waterfall is suitable for
projects with stable, well-defined requirements, while agile is more adaptable to changes and suits
projects with evolving or unclear requirements. Both approaches have their merits and limitations, and
the decision often depends on the specific needs and characteristics of the project at hand.
