Are you thinking of launching a new hedge fund? Considering relocating your existing fund to a new office? Is it time to undertake significant enhancements or renovations to your existing office space? Or – if your firm is growing rapidly – are you thinking of building out another office to expand into a new geographic location?
If you answered “yes” to any of these questions, a major technology project is likely in your near future. If your firm is currently working with a reputable IT partner, they should be able to assist you with this project. If your technology is being managed in-house, or if you’re a new shop that’s just starting out, you may want to seek the guidance of a third-party project and technology management consultant to ensure the project is completed correctly and in a timely manner.
From technology infrastructure concept development, to construction administration, to telecommunications and market circuit procurement and systems installation/implementation management, there are many crucial aspects of an IT build-out, relocation or expansion project. Be sure to select a partner who can provide extensive expertise in all of these areas, as well as deep experience and a proven track record of successful project completions.
To maximize the efficiency of the project, it should first be broken down into carefully planned stages comprised of specific tasks and activities. Each task acts as a stepping stone or foundation on which the next task can begin, and pre-determined milestones should be built in to ensure each task is completed in accordance with the specified timeline for the project. Here is an example of a technology project management plan template to give you an idea of what you can expect during a major IT project:
Eze Castle Integration's Project & Technology Management practice advises investment management firms on IT organizational, operational and strategic challenges associated with major technology projects. We regularly guide clients through fundamental issues such as mission and structure, tactical issues including procurement and logistics, and financial decisions about IT capital investment and cost reduction. To learn more, please visit our Project & Technology Management page or contact us.