Al Hilal Bank Project Management
Al Hilal Bank Project Management Case Study
Al Hilal Bank is an Islamic bank with its headquarters in Abu Dhabi (“Al Hilal Bank Aims” par. 1). The major aim of the financial institution is to respond to the first Islamic values and to see the world from a special perspective (“Al Hilal Bank” par. 1). It offers numerous banking operations corresponding to “wholesale banking services”, “private banking”, “asset acquisition finance”, “overseas exchange contracts”, and “working capital and trade finance” (“Bloomberg: Company Overview” par. 1).
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It could possibly be mentioned the bank cares for its workers and considers them as a vital component of the planning course of. Al Hilal Bank pays close attention to the recruiting process in order to increase effectivity and effectiveness of operations (“Al Hilal Bank” par. 1). The primary purpose is to hire successful and hardworking folks to stay aggressive on the earth.
Speaking of specifics of this case, a current goal of Al Hilal Bank is to turn out to be the “smartest” financial institution in the United Arabic Emirates (“Al Hilal Bank Aims” par. 1). Mohammad Berro claims that the bank will obtain a desired objective in 5 years by rising recognition of cell and computer functions (“Al Hilal Bank Aims” par. 1). It might be said that it will scale back numerous working processes in different spheres and attract consideration to the sensible banking. This analysis paper emphases implementation of this goal by project administration of Al Hilal Bank.
This analysis focuses on analysis of project management in Al Hilal Bank. The case study methodology is used to accumulate this data. After the analysis process, attainable conclusions are made. Some issues, which might affect effectiveness of the group, are thought-about. Results assist to seek out attainable answers to the questions to enhance a current state.
Objectives and goals of the analysis
It is important to know and decide primary goals and objectives of the research before beginning the exploration. Firstly, it must be stated that project administration is rather complex and complicated. It consists of a number of parts corresponding to project planning, scheduling, implementation, controlling, and monitoring (Nagarajan 5). All these parts are pivotal for successful project administration. However, only one stage is evaluated, as Al Hilal Bank is at present in the implementation phase. The starting stage terminated, and it is time to continue with the following step. Other stages might be discussed briefly. It will assist to see the whole course of.
The primary aim is to find the implementation strategy of Al Hilal Bank. It is evident that the bank has to ascertain an goal in each implementation stage (Binder 249). It will assist the company to have profitable results after the completion of the evaluation phase.
Additionally, a comparability between the important thing right process, present course of and project managers’ roles has to be made. This truth will assist to gauge a present state of affairs. Moreover, another goal is to find out a problem and its type. This aspect will assist to find various possibilities to solve a problem.
Another objective is to point out that a global and aggressive company such as Al Hilal Bank would possibly face sure complications in project management. The key goals are to determine the methods of finding options to difficulties and discover firm’s effectiveness on the present stage.
Evaluation of all these elements will help to find out Al Hilal Bank’s effectiveness in the banking trade within the United Arab Emirates. It may even assist to see managing process from a unique perspective and perceive the bank’s way of finding solutions to the problem.
Type of issues demonstrated in the paper
Project administration would possibly face different issues during all of the phases of the project implementation. As a process is usually restricted by time and sources (Burkov and Burkova 1242).Consequently, problems related to the successful estimation of the required time and scheduling of the stages are the most typical issues that the administration faces. Inability to find alternative options and other methods of implementation is one other concern, which has a unfavorable impact on the effectivity of project administration (Nagarajan 5). Moreover, some companies usually are not in a position to consider dangers and their possible influence on move of a project (Roberts 146).
However, these problems aren’t mentioned in this case. Al Hilal Bank faces challenges related to the communication issues. Misunderstanding is a common complication in everyday life. Communication expertise are very important for the objective achievement and finding the best solutions to the issues. Nevertheless, it must be mentioned that a lack of communication might be a purpose for not assembly the deadlines.
The key of right course of in Al Hilal Bank
Speaking of correct process, the project managers are attempting to achieve the final purpose by the deadline. The key course of is to concentrate on financial planning. It is the simplest and quick way to reach the final goal. The project managers need to pay significant attention to the distribution of the monetary resources, as it’s important on this situation. In case of Al Hilal Bank, project managers have to know the importance of financial planning and attempt to keep away from an absence of management.
However, it must be mentioned that achievement of the main aim is rather tough. It involves making selections on the multiple ranges of the hierarchy, which is established in the bank. Taking into consideration different small phases of the project is also vital whereas reaching a last objective.
Key process and current course of
In order to evaluate a situation of Al Hilal Bank, it’s necessary to compare the key process with the current course of. Firstly, a present course of must be described. Understanding significance of the present course of is essential, because it allows seeing a full picture of the present stage.
As it was mentioned earlier, Al Hilal Bank is planning to become the neatest bank in subsequent 5 years (“Al Hilal Bank Aims” par. 1). The aim is somewhat massive. Subsequently, it’ll require a while to implement all the required phases. However, it could possibly be said that the implementation process has started already, as laptop and cellular functions are available for all platforms. Additionally, the company participates in numerous occasions, which assist its corporate picture and provides a chance to point out its ‘smart’ side (“Al Hilal Bank Aims” par. 5).
Compared to Al Hilal Bank’s key process, it could be mentioned that it is slowly shifting in the right path. In order to realize its last aim, the financial institution has to scale back its spending in different spheres. It may require a while, as reconsidering the states of expenditure is a sophisticated process. In conclusion, it could possibly be said that Al Hilal Bank is partly positioned in the planning and scheduling phases. All the actions should be continuously evaluated to avoid high dangers and losses.
Project manager‘s roles
Additionally, to be able to recognize an issue in project management, project manager’s roles need to be evaluated. Moreover, influence of the roles needs to be found, as this fact helps to see a purpose for the present stage of the progress. Furthermore, it evaluates the actions of the projects managers and potential ways to improve a current condition.
It could be said that project managers play a vital position on this process, as there are essential contributors to the final choices. In general, the project managers are liable for calculations and estimations of attainable costs and resources (Abaza, Siddiqi, Arsic, and Passley par. 2). In case of Al Hilal Bank, the project managers have related roles, as they pay shut attention to financial planning and resource distribution. This reality implies that the project managers successfully perform their duties, and the ultimate goal of the plan will be reached in time.
Actual problems in Al Hilal Bank
Project managers usually face a major amount of issues throughout all phases of planning. A lack of communication is the main downside that Al Hilal Bank currently opposes. It seems that the financial institution does not pay enough consideration to its staff. The workforce does not really feel as their recommendations and choices are taken into account. It could possibly be mentioned that this truth creates misunderstandings and slows the pace of the implementation process in Al Hilal Bank.
In order to seek out potential solutions to this problem, a project manager should have the ability to discover successful strategies of communication with staff (Nagarajan 5). In this case, establishing a trustful relationship with the workers is important. The workforce is a vital asset of the corporate, because it was mentioned previously. Moreover, as Al Hilal Bank has some difficulties whereas establishing a communication framework, project managers pay close consideration to this concern and try to keep away from misunderstandings in the company.
In conclusion, it might be said that having an effective and detailed planning is vital for a corporation. Effective project administration helps Al Hilal Bank to remain competitive within the banking business. Moreover, it helps to generate greater revenues and create a excessive brand recognition on the earth. It could be mentioned that the financial institution is able to discover effective solutions to a problem. Its implementation process is detailed, and it responds to the important thing values of the corporate.
However, it needs to be mentioned that despite the fact that Al Hilal Bank is a pure success within the United Arabic Emirates, it still experiences some difficulties in the implementation course of. A lack of communication between project managers and employees is one of them. It was surprising to find that the group, which appreciates hard work of their workers, would possibly expertise and face social points. It is important for every organization to ascertain an effective project management community and have an excellent relationship with its staff. If Al Hilal Bank ignores this issue, it would result in the problems in project administration. Additionally, it doesn’t reply to the key values of the bank, as it is initially supposed to consider its workers as an important asset.
It is crucial for Al Hilal Bank to discover a resolution to the shortage of communication. Establishing a trustful relationship is vital for effective implementation and organization in each project stage. Paying nearer attention to the workforce will assist to scale back misunderstandings and boost the effectivity of Al Hilal Bank.
There are several options to this drawback. Firstly, giving staff a proper to participate in the determination-making course of will assist to extend the level of belief contained in the financial institution. Employees will really feel as part of the group and enhance effectiveness of the working processes. However, senior managers won’t consider this resolution as probably the most related, as they may not need to share their responsibilities with the common staff. In this case, an phantasm of creating choices may be an acceptable solution to this downside. Workers would understand their significance. However, their selections may have solely a slight effect on the ultimate decision. The financial institution has to repair this concern, as it would affect its popularity.
Another resolution is to increase the importance of the company culture. Various entertaining activities will help to see workers and managers from the completely different perspectives. It will encourage a pleasant ambiance within the bank and help to enhance communications expertise of all workers.
Moreover, Al Hilal Bank could create a ‘box of ideas’. The primary goal of the field shall be to create a pleasant ambiance within the group and encourage staff to share their thoughts. Once a month, the ideas will be checked and evaluated. The most successful solutions will be awarded and could be thought-about as possibilities for the long run implementation. This fact will assist to create a competition between the staff. It will improve their effectiveness and make them work harder.
Abaza, Hussein, Khalid Siddiqi, Zoran Arsic, and Grifton Passley. “Monitoring Project Progress: Project Manager’s Perspectives.” International Journal of Construction Project Management 6.1 (2014): sixty three-seventy four. Print.
“Al Hilal Bank Aims to Become UAE’s Smartest Bank.” Gulf News. 2015: n.pag. Web.
Binder, Jean. Global Project Management: Communication, Collaboration and Management throughout Borders, Burlington: Gower Publishing Company, 2007. Print.
Bloomberg: Company Overview of Al Hilal Bank PJSC 2015. Web.
Burkov, Vladimir, and Irina Burkova. “Network Programming Technique in Project Management Problems.” Automation and Remote Control seventy three.7 (2012): 1242-1255. Print.
Nagarajan, Hari. Project Management, New Delhi: New Age International (P) Limited, Publishers, 2004. Print.
Roberts, Paul. Effective Project Management: Identify and Manage Risks, Plan and Budget, Keep Projects under Control, Philadelphia: Kogan Page Limited, 2011. Print.
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