Effect Of Adopting Prince2 Methodology On Product Delivery In The Banking Sector: A Case Study Of Commercial Bank Of Africa

Banks continue to operate in a very competitive envirionment. The 43 banks in Kenya are competing to attract and retain a share of the 74.7% of the populace who have bank accounts. One way of doing this is to roll out relevant products through management of projects. Management of projects is the channel for the development and supply of new products. It is now a core business process as well as being an efficient tool for dealing with unique or complex activities for the benefit of the end user. Products are the outcome of projects and are created using distinct methods of project management including Agile, Projects In Controlled Environment 2 (PRINCE2), Project Management Body of Knowledge (PMBOK) and Control Objectives for Information and Related Technologies (COBIT). The study sought to assess what effect adopting the PRINCE2 project management methodology has on product delivery within the banking sector in Kenya as evidenced at CBA. Variables that indicate successful delivery of a product include quality as prescribed under scope, delivery within an agreed-upon schedule & cost and achieved business objectives as judged by what the end user wanted. Data was collected using 78 questionaires collected from the 87 that had been distributed to members of staff who implement projects – this translated to a response rate of 89.7% . The study found that the field is dominated by men and IT plays the biggest role in implementation.