Table of Contents
Goals and objectives.
Strategies, Key process, and their associated risks.
Critical analysis mapping.
Business process management is a phrase that is commonly used in everyday operations of the business, and it is termed to be a vital tool in business operations (Meidan et al., 2017). It is a subset of operations management. Individuals use varied methodologies to model, discover, analyze, improve, measure, optimize, and automate all business processes from a raw deal to a real deal. Therefore, any combination of different methodologies useful in managing a business process is referred to as business process management. These processes can be variable and unstructured or repeatable and structured. Moreover, a business that wants to enable information should do so with business process management.
Process mapping in business refers to all activities involved in defining what a business entity does, the persons responsible, setting the standards under which the business processes should be completed, and the critical success factors useful in determining the business's success processes (Bowles, 2018). Business process maps help organizations in becoming more customer-centered and increase the effectiveness of the operations. Therefore, a process map is a visual representation that depicts the business process management flow. In this paper, a discussion of the current situation (As-Is) and future situation (To-Be) in the standard chartered bank is discussed. Process mapping shall be useful in integrating IT in the traditional shattered bank so that its processes become entirely automated.
Three types of BPM are useful in integrating IT by the standard chartered Bank-Jordan. These business process management types are document-centric business process management, human-centric business process management, and integration-centric business process management. The document-centric bpm entails the entire process built with a specific document at its center. This type of bpm's central objective is to help the standard chartered bank send a document to many approvers (van Wingerde, 2020). In the human-centric BPM, the traditional chartered bank will decide what should happen at each stage in the entire process (Meroni, 2017). Finally, the integration-centric BPM focuses on creating a smooth flow of data and information between software network tools (Szelągowski, 2020). Therefore, this paper focuses on integrating information technology as a BPM strategy within the governance and management approach.
Every organization is striving to integrate information technology in running their significant business activities. The integration of modern Information Technology systems with other business systems contributes to organizational success in numerous ways. The Standard Chartered Bank- Jordan has learned the essence of integrating current information systems with its daily activities' company competitors. The organization currently uses a manual method of governance and management associated with numerous challenges such as lack of accountability and transparency, poor and slow decision-making, late completion of projects, and organizational data mismanagement. Therefore, the organization management team has collaborated to work together with other stakeholders to integrate information technology (IT) systems within their management and governance approaches. The organization has accessed all the available applications and settled for the COBIT 5 framework to introduce Information Technology governance and management in the organization. The program will help the organization generate optimal value from the current technology by balancing the realized benefits and anticipated project risks.
The Standard Chartered Bank-Jordan aims to adopt several management and governance objectives through the integration of Information Technology with its current business framework. The goals and objectives of the project include-
Standard chartered Bank-Jordan information technology governance project should embrace and implement several strategies that will significantly contribute to its success. The potential strategies will include meeting the stakeholder needs, covering the organization's End-to-end and Holistic Approach. Through the holistic approach strategy, the organization will create a smooth coexistence environment for the enablers that support the achievement goals and objectives (Lam, 2017). COBIT 5 allows several factors such as culture, organizational structure, policies, behavior, and ethics to help achieve project goals and objectives. Mismanagement of the project enablers raises the risk of misunderstanding that results to project overspending or failure.
The primary goal of establishing enterprises is to generate adequate value for the business through balancing the optimized risks and resources and increasing benefit realization. Meeting the stakeholder needs strategy will ensure that the project achieves the organizational goals through effective and efficient utilization of resources (Stahl et al., 2020). COBIT 5 will help in mapping and translating the enterprise goals to meet the stakeholder goals. However, concentrating on meeting the organization's goals may raise the risk of forgetting the needs of project enablers such as the employees.
Covering the Enterprise End-to-end strategy will help the Standard chartered bank integrate COBIT governance into its current enterprise governance systems. This strategy covers both the internal and external activities relevant to the organization (HUANG, 2020). Through this strategy, the bank will balance the enablers of the project, both internal and external. For instance, the strategy will ensure that the project does not concentrate on meeting customer satisfaction and creating a suitable environment for the employees and other resources. If the project fails to embrace this strategy, it will risk resource mismanagement and project failure.
The standard chartered bank- Jordan will embrace process mapping so that all its activities involved in the information technology integration project are achieved with objectivity. The process mapping shall help the bank achieve good governance and management for banking activities and operations. For a complete and effective business process mapping for this project, the project management team should develop the process maps. The following are some of the take ins when creating a business process map; gather all stakeholders, document all human tasks, document all system tasks, identify possible redundancies, and determine the responsible persons for each task. The other important task is that the sequence of functions should be put into account for the success of BPM (Meidan et al., 2017). The "as-is" process is the bank's current operations and how it handles its day-to-day operations. The manual governance and management techniques are what the bank is currently embracing. The process has many flaws that can be seen through delayed services, customer withdrawals, lack of employee motivation, and low-quality services.
The to-be process denotes the future state after the implementation of information technology. After the successful implementation of the project, all the flaws in the as-is process shall be eliminated. Governance and management shall be made easy and effective
Implementing the Information Technology project will follow consistently, complicated steps from its kicking-off to implementation and support. Before the project's actual performance, the organization will be obliged to educate all employees on how the program shall be used and create a communication plan between the program and the users. Also, clarification of the scope and defining all the responsibilities of the program users will be paramount. For instance, defining the database administrator's roles will differ from the record manager's current goals. The organization should proceed to access the AS-Is condition, emulate the current system's weakness, and formulate plans for improving them through analysis of customer needs. After analysis, the organization should define the To-Be processes by setting the necessary goals and objectives for improvement. In this step, the project should clearly state how the new system will satisfy the user requirements, program metrics, and how its better than the prevailing systems (Ornat, 2018).
The system manager should outline the differences between the two systems by stating their advantages and disadvantages, cost and benefits, feasibility, and sensitivity. For instance, unlike the current system, the new information technology system will ensure a good flow of information, early completion of projects, effective decision-making, and practical resource usage. However, the system will be disadvantageous compared to the current system since it shall require many funds to implement and maintain. Therefore, the As-Is process is cost-effective, though risky, while the To-Be system shall be beneficial and expensive (Cordes, 2017). Generally, the new business process mapping will benefit the organization financially, and its integration will contribute to organizational prosperity.
Conclusively, the standard chartered bank Jordan shall experience immense benefits from integrating information technology in all the business processes in the bank. The main objectives for the initiation and implementation of this project will be achieved if the proposed performance and considerations are taken care of. Alternatively, business mapping is a critical tool that plays a significant role in affecting this project. The as-is processes need to be reviewed and changed accordingly and wholly integrated into the to-be processes in which the future holds a great advantage for the bank. It is also essential to consider Strategies, Key processes, and risks associated with the effective implementation project.
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