Implementing a new financial system is a complex and challenging project that requires careful planning, coordination, and execution. It involves many different stakeholders, processes, and technologies, and it has the potential to impact the entire organization. That’s why here at The Alliance Group we believe it is essential to have a project manager in charge of the implementation.
What exactly does a project manager do?
A project manager is a professional who is responsible for overseeing the planning, execution, and completion of a project. They have the skills, knowledge, and experience to manage the many different aspects of a project, and they are essential for ensuring that the project is completed on time, within budget, and with the desired results.
Is bringing on a project manager really necessary?
This is a question we get ALL the time from our clients. Here are some of the key reasons why we think the project manager is essential for implementing a new financial system:
- Planning and Coordination
- Implementing a new financial system involves many different tasks and activities, and it requires careful planning and coordination to ensure that everything is completed on time and within budget. Your project manager can create a project plan that considers the big picture as well as sets realistic and achievable goals, budget and timelines that outline the tasks, dependencies, and deadlines for the implementation. They can also monitor and adjust the plan as needed to ensure that the project stays on track. Our team of project managers at Alliance are experts at planning and coordinating for our clients.
- Stakeholder Management
- Implementing a new financial system also involves working with many different stakeholders, including finance and accounting teams, IT departments, and business units. Your project manager can help manage these stakeholders by communicating with them regularly, gathering their input and feedback, and coordinating their activities and contributions to the project to ensure the project continues to align with the overall business strategy. By effectively managing stakeholders, your project manager can ensure that the project is aligned with the needs and goals of all stakeholders.
- Risk Management
- Implementing a new financial system also involves managing risks, such as budget overruns, delays, and technical challenges. A strong project manager can help identify and mitigate these risks by developing contingency plans, monitoring project progress, and escalating issues as needed. By managing risk effectively, your project manager can help ensure the success of the project. This is another key area we coach our clients on when thinking about the right project management approach.
- Quality Assurance
- A project manager is also responsible for ensuring that the project meets the required standards of quality and performance. This can involve testing the new financial system to ensure that it is working correctly, gathering feedback from users, and making any necessary adjustments or improvements to the system. By focusing on quality, your project manager can help ensure that the new financial system is reliable, efficient and effective.
In conclusion, a project manager is essential for implementing a new financial system. They provide the planning, coordination, and leadership needed to ensure that the project is completed successfully and on time. By working with a project manager, organizations, like many of our clients, can benefit from their expertise, experience, and skills, and they can maximize the chances of success for their financial system implementation project.
Here at Alliance, our Financial Systems Consulting team is ready to help with your project management needs. Check out our team on our website and reach out to us at info@thealliancegroup.com for more information.