IT Mega Projects in Banking - Best Practice

10 Lessons learned

1. Establish a robust project leadership.
2. Do only start an IT Mega Project once the bank can stand double the planned budget.
3. Build a conservative business case.
4. Prepare yourself that your program will not deliver on all objectives.
5. Make yourself familiar with your IT Landscape of your project.
6. Understand what problems do you want to solve with your mega project.
7. Take your time – not PPT, but make use of a test environment of your target IT Landscape.
8. First build some prototypes to learn about your core challenges.
9. Make yourself fit for the target landscape
10. Deconstruct your IT Mega Project in several smaller delivery units, that each create value, build on each other and help to achieve the common objectives.

8 Failures to be avoided

1. Do not repeat know failures
2. Set unrealistic objectives
3. Set political objectives
4. Provide not appropriate time for testing
5. Assign inexperience program management
6. Overestimation of one‘s own capabilities
7.  Too much optimism 
8. Believe you are unique