EBA Reporting Requirement Project

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The EBA Reporting Requirement Project  was initially planned to be delivered via a much larger strategic project. Given the delays in the strategic project releases this has now been ruled out. The implications is that the EBA project will now be delivered by utilising existing architecture and processes and by implementing operating model changes within existing teams.

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The initial budget estimate for the project was in the region of 5 to 10 million. Given that the project is now effectively a tactical project, it is expected that the budget will not exceed 3 million as a maximum. Therefore it does not need to go through the formal budget approval processes that would be required as per the original strategic plan.

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A cost centre has been set up for the project which is sitting outside IT and within Finance. As such this project is now a tactical Finance sponsored and delivered project.

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The above create the danger that the Strategic Project, still in progress by IT, will not give the EBA project the priority it deserves as it no longer constitutes a key deliverable.

 

The project governance is complicated further by the fact that the management of the Strategic Project and the sponsoring of the EBA project are not aligned and there are no direct relationships between the two teams. This could create an increased need for negotiating important aspects of the project which could cause unnecessary delays.

 

Given the tactical approach that the EBA project is now taking, the technical skills required to deliver the project do not exist within Finance. At the same time SME availability is very limited due to BAU and pre-existing commitments.

 

It is now recognised that an external consultancy function that can mobilise quickly is required to deliver the EBA project and ensure timely and focused delivery within the timelines mandated by the EBA.