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Don't Know the Author

In: Business and Management

Submitted By mamiemoloko
Words 2110
Pages 9
Unit 2 Need identification

The Bank of Boston
Official from the Bank of Boston recently discuss how the firm create a effective, all encompassing request for proposal. Kevin Roden, director of consumer banking system, George Swick, project manager of retail workstation infrastructure, indicate that their focus is on business requirements. They conduct a cost-benefit analysis and examine available products and services only after they ensure that a project will meet business requirements. If the project does not directly support the business, it is not pursued. The Bank of Boston had a goal: improve sale and customer service and increase the range of products, such as mutual funds and small business loans, in the bank’s branches. Given their resources and availability resources, they found that it would be more cost effective to outsource much of the work. So they developed two comprehensive requests for proposal (RFPs). The first was for procurement, and installation of the system. The second was for support and maintenance. There were 11 responses to the two RFPs, which were reviewed by more than twenty of various technology and business committees within the bank. IBM and Anderson Consulting were chosen to help with the procurement, deployment, and installation, and IBM was chosen to help with the support and maintenance. The Bank of Boston Branches will be getting a complete facelift: new client/server-based local area net works, new customer service and sales applications software, electronic mail, and remote software distribution, as well as automated data backup and recovery systems. The bank reports numerous benefits from developing an RFP using a disciplined approach. The major lesson to be learned from the Bank of Boston’s success is that applying project management discipline and techniques to a proposal beforehand results in a more comprehensive...

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