Providence, RI — The Project Management Institute, Ocean State Chapter (OSPMI), announces that it has honored Citizens Bank with the 2017 Excellence in Project Management Award. The award was presented during OSPMI’s November 2017 chapter meeting that was held at the Tech Collective in Providence, RI.
OSPMI’s Excellence in Project Management Award recognizes both individuals and organizations who demonstrate excellence, superior performance, and exceptional results while using best project management practices. OSPMI presents its Excellence in Project Management Award to one project each calendar year.
About the Project: Citizens Bank Marlton Home Mortgage Ops New Office Build Out
The Citizens Bank Home Mortgage (HM) team decided to expand their operations team in Marlton, NJ. The construction build-out project was to provide a team-oriented space for 85 colleagues and would support HM goals and allow the existing HM Operations office to be returned to the HM Sales team.
Building out the new office was a high profile and time critical project for Citizens Bank. From the date the lease was signed, the initial duration estimate was eight (8) months. The initial cost for the project, as reflected in the Business Case, was $1.8M. The proposal was for $1.68M and with 28 change orders finished at $1.78M. By “skillfully” managing the tasks and permitted construction, the team was able to complete the project ahead of schedule and within budget.
Although actual construction for the build out was performed in New Jersey, the project was managed from Rhode Island. Internal resources for the project included colleagues from eight different departments. External resources included the architect, engineer, numerous technology vendors, an audiovisual vendor, a signage vendor, a pantry equipment vendor, a vending machine vendor, and an artwork vendor. A total of 25 vendors were part of the project team. In addition to the 85 HM Ops colleagues, there were 92 stakeholders.
Project governance was established by the Citizens Bank Risk Team. Every Citizens Property Services project is required to follow the same risk governance, which includes monthly project testing by Risk of 14 Risk Control Points (RCP). As part of this project, 1,087 documents were uploaded to the project folder. The project management team took a proactive approach to identifying potential risks early in the project and was able to mitigate many of these risks by requesting site specific Certificate of Insurances, ADA Compliance Statements, and lien waivers to reduce the liability of Citizens Bank. The remaining risks were closely monitored and reported out at weekly status meetings.
Clearly, defining the scope and having a sound change management process in place allowed the project management team to align the project goals among all the team members.
“Projects of this nature require exceptional and effective communications, adept management of multiple stakeholders, clear scope definition and management, and the overall ability to apply strong project management practices”, said Jo-Ann Royal, Vice President of Marketing for OSPMI. Clearly, the talented project leaders at Citizens Bank have leveraged an integrated set of industry expertise to successfully execute a project that was critical to their operations. PMI, Ocean State Chapter is honored to name Citizens Bank the recipient of the 2017 Excellence in Project Management Award.
About Citizens Bank: Headquartered in Providence, Rhode Island, Citizens Bank offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle market companies, large corporations and institutions. They are one of the nation’s oldest and largest financial institutions, with $152.3 billion in assets as of December 31, 2017.
About PMI Ocean State Chapter: The Project Management Institute Ocean State Chapter (OSPMI), has been chartered by the Project Management Institute (PMI) since the summer of 1999. It was established as a professional development organization for Rhode Island and South Eastern Massachusetts professionals from all areas of industry practicing Project Management. The organization is a non-profit, tax-exempt corporation and is dedicated to advancing the practice, science, and profession of Project Management.
Visit us at www.ospmi.org and on Twitter @OceanStatePMI