HSBC Bank: Change Management and Digitalization Project

This project report outlines a comprehensive plan for digital transformation and change management within HSBC Bank. It details the project's purpose, which is to address operational issues and risks associated with digitalization. The project scope includes requirements, constraints, assumptions, and deliverables, with a focus on implementing change management initiatives across different departments. The report includes a project plan with timelines, milestones, and cost analysis. It also covers resource allocation, risk management (both external and internal), and a communication plan. The goal is to improve business models through digitization, evaluating existing systems, and integrating new digital solutions, ultimately enhancing HSBC's operational efficiency and customer service. The project utilizes project management methodologies to successfully implement the digital transformation plan.

Running head: SUCCESSFUL BUSINESS PLAN
Successful Business Plan
Name of the Student
Name of the University
Author note

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Executive Summary
The assignment has helped in analysis of the change management implementation in HSBC
Bank based in London. It has been seen that there are different issues related to digitization in
the respective bank that has to be solved effectively with the implementation of technologies
and this will help in solving such issues accordingly.
The main aim and purpose of the assignment is to identify the different challenges that has
been faced by HSBC Bank and solving such issues with implementation of the different
change management initiatives.

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Table of Contents
Learning Outcome 1...................................................................................................................3
Purpose of the Project................................................................................................................3
Description of the Project...........................................................................................................3
Project plan.................................................................................................................................4
Project Scope Statement.............................................................................................................4
Aim and objectives of the project..............................................................................................4
Learning Outcome 1 and 2.....................................................................................................5
Requirements..........................................................................................................................5
Constraints..............................................................................................................................5
Assumptions...........................................................................................................................5
Deliverables of Project...............................................................................................................6
Summary Schedule and Milestone.............................................................................................6
Milestone................................................................................................................................6
Project cost.................................................................................................................................9
Learning Outcome 2.............................................................................................................11
Resource Allocation.............................................................................................................11
Learning Outcome 3.................................................................................................................13
Risk Management.....................................................................................................................13
External Risk........................................................................................................................13
Internal Risk.........................................................................................................................14
Communication Plan................................................................................................................15

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Conclusion................................................................................................................................18
References................................................................................................................................19
Learning Outcome 1
Purpose of the Project
This is the initiation project plan that has been done for the organization named HSBC
Bank. It can be seen that the organization is rapidly intensifying the entire process of the
business, however they are facing different kind of operational issues and risks in the digital
technology transformation domain. Furthermore, in order to resolve such kind of
organizational issues in the digitalization of the whole structural process of the HSBC Bank.
It has been that the management of the respective organization has tried to implement the
change management plan wherein the change management will be implemented in the
different departments as to develop new digitalization processes and innovations for handling
such issues in HSBC Bank.
Description of the Project
HSBC Bank is one of the British banks that is multinational in nature along with
financial kind of services holding organization (Grewal 2017). The headquarters of HSBC
Bank is in London, United Kingdom and the respective bank serves the entire world in an
effectual manner. The revenue and the operating income of the company is around
US$51.445 billion and US$14.792 billion and the number of employees employed are around
228,687 (Gomez and Tejedor 2015). The main aim and service provided by HSBC Bank is to
provide support to their business customers, however it has been that there are different
issues in the recent era wherein there is no such digitalization processes that are applied in the

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company. Therefore, a new project will be initiated as to deal with such issues and this will
help in implementing change management in the organization as well (Pandey and Misra
2014).
Project plan
Project Scope Statement
The main scope of the project helps in defining different kind of essential and
important information that is required for execution of the entire project (Jones et al. 2016).
The entire statement of the project will help in consisting of the different factors that includes
requirements expectation along with analysis of the features of the digitization in the entire
business (Ogilvie 2016). The entire project will help in highlighting different kind of
processes along with initiatives that are required for the implementation of the change
management with the help of digitization of the technology. The entire scope of the project is
further divided into other parts that has been described in the later part of the project (Page et
al. 2015).
Aim and objectives of the project
The different objectives of the project include the implementation of the project
change management with implementation of digitization that are defined as follows:
To evaluate the different system of existing network for identification of the changes
that are required (Nagaraj 2016)
To properly identify the different strategies of entire change management as to
improve the different business model for the implementation of digitization
To develop proper documentation for the digitization of the entire structure of HSBC
Bank
To integrate developed digitization software in the respective business model

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To develop different kind of digitization processes in the organization as to deal with
different issues
Learning Outcome 1 and 2
Requirements
Project management of the organization will be consisting of different kind of
processes of digitization for successfully implementing the process.
Identifying the different initiatives of change management
Proper restructuring of different processes within model of business
Technical kind of requirements
Constraints
There are different constraints wherein one of the limitations if the time span of
project is high as the different employees are engaged by providing accurate guidance. The
system that has been newly developed has to be compatible in nature and the different
purchases of items has to be in accordance with the allocated budget of the organization.
Assumptions
There are different assumptions that are considered during execution of the project are
as follows:
The project undertaken has proper support from sponsors along with internal
stakeholders
Purpose and objective of executing and developing project has to be communicated
within all departments
Additional requirements are required for successful completion of the project

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Deliverables of Project
The different projects are developed in an effective manner as to serve accurate
purpose and this focuses mainly on the tastes and requirements of the customers. The success
of the entire project is determined with the different tangible along with intangible outcomes
for achieving success for the project. Furthermore, the different deliverables of project will be
consisting of different kind of information along with equipment and money. The project
deliverable for bringing the entire change management for digitization of the different
structures of the HSBC Bank are as follows:
Task Name Duration Start Finish
Proposing change management 64 days Thu 3/22/18 Tue 6/19/18
Process for Business Re-engineering 22 days Wed 6/13/18 Thu 7/12/18
Digitalization requirements 25 days Fri 7/13/18 Thu 8/16/18
Digitalization phase 25 days Fri 8/17/18 Thu 9/20/18
monitoring of Digitalization phase 120 days Thu 3/22/18 Wed 9/5/18
Summary Schedule and Milestone
Milestone
Milestone is defined as wherein the tasks are having zero duration and it helps in
signifying completion of different crucial component in the project. The entire sequence of
the different events helps in signifying that the completion of the specific phases is known as
milestone and it will not have any kind of impact on time span and this will help in defining
the different stages that are as follows:

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Task Name Duration Start Finish
milestone 1: change management
plan developed 0 days Tue 6/12/18 Tue 6/12/18
milestone 2: Business processes re
engineered 0 days Thu 7/12/18 Thu 7/12/18
milestone 3 0 days Thu 8/16/18 Thu 8/16/18
milestone 4: Digitalization phase
completed 0 days Thu 3/22/18 Thu 3/22/18
Milestone 5: Business process
digitalization completed 0 days Wed 9/5/18 Wed 9/5/18
Summary Schedule and Timeframe
Task Name Duration Start Finish Predecessors
Digital Technology
Implementation plan 131 days Thu 3/22/18 Thu 9/20/18
Proposing change
management 64 days Thu 3/22/18 Tue 6/19/18
Examining the
organizational processes 3 days Thu 3/22/18 Mon 3/26/18
identifying the areas needed
to be digitalized 6 days Tue 3/27/18 Tue 4/3/18 2
Develop initial draft 50 days Wed 4/4/18 Tue 6/12/18 3
develop the final draft 2 days Wed 6/13/18 Thu 6/14/18 4
Deploy Change
management plan 3 days Fri 6/15/18 Tue 6/19/18 5
milestone 1: change
management plan
developed
0 days Tue 6/12/18 Tue 6/12/18 4

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Process for Business Re-
engineering 22 days Wed 6/13/18 Thu 7/12/18
processes documented in
functions 2 days Wed 7/11/18 Thu 7/12/18 11
current processes reviewed 7 days Wed 6/13/18 Thu 6/21/18 7
Develop best practices 8 days Fri 6/22/18 Tue 7/3/18 9
workshop for digitalization 5 days Wed 7/4/18 Tue 7/10/18 10
milestone 2: Business
processes re engineered 0 days Thu 7/12/18 Thu 7/12/18 12
Digitalization
requirements 25 days Fri 7/13/18 Thu 8/16/18
submit the first draft of
digitalization process 2 days Fri 8/10/18 Mon 8/13/18 17
review digitalization 3 days Tue 8/14/18 Thu 8/16/18 18
documents requirement into
systems 5 days Fri 8/3/18 Thu 8/9/18 16
clarifying the requirements 10 days Fri 7/13/18 Thu 7/26/18 13
requirement confirmation
work 5 days Fri 7/27/18 Thu 8/2/18 15
milestone 3 0 days Thu 8/16/18 Thu 8/16/18 19
Digitalization phase 25 days Fri 8/17/18 Thu 9/20/18
Software development 10 days Fri 8/17/18 Thu 8/30/18 20
Integration into the
organizational business
model
15 days Fri 8/31/18 Thu 9/20/18 22
milestone 4: digitalization
phase completed 0 days Thu 3/22/18 Thu 3/22/18
monitoring of
Digitalization phase 120 days Thu 3/22/18 Wed 9/5/18
developing suitable
infrastructure 30 days Thu 3/22/18 Wed 5/2/18 24
identifying the drawbacks 60 days Thu 5/3/18 Wed 7/25/18 26

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Customization 30 days Thu 7/26/18 Wed 9/5/18 27
Milestone 5: Business
process digitalization
completed
0 days Wed 9/5/18 Wed 9/5/18 28
Project cost
Task Name Resource Names Cost
Digital Technology
Implementation plan $201,800.00
Proposing change management $134,160.00
Examining the organizational
processes
finance manager, human
resource manager, managing
director, operation manager,
Project manager
$6,720.00
identifying the areas needed to be
digitalized
finance manager, human
resource manager, managing
director, operation manager,
Project manager
$13,440.00
Develop initial draft
finance manager, human
resource manager, managing
director, operation manager,
Project manager
$112,000.00
develop the final draft Project manager $800.00
Deploy Change management
plan Project manager $1,200.00
milestone 1: change management
plan developed $0.00
Process for Business Re-
engineering $30,480.00
processes documented in
functions
finance manager, human
resource manager, managing
director, operation manager,
$4,480.00

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Project manager
current processes reviewed
finance manager, human
resource manager, operation
manager
$7,280.00
Develop best practices
finance manager, human
resource manager, operation
manager, Project manager
$11,520.00
workshop for digitalization
finance manager, human
resource manager, operation
manager, Project manager
$7,200.00
milestone 2: Business processes
re engineered $0.00
Digitalization requirements $8,080.00
submit the first draft of
digitalization process
operation manager, software
developer, system engineer,
testing engineer
$1,360.00
review digitalization
operation manager, software
developer, system engineer,
testing engineer
$2,040.00
documents requirement into
systems software developer $480.00
clarifying the requirements software developer, system
engineer, testing engineer $2,800.00
requirement confirmation work software developer, system
engineer, testing engineer $1,400.00
milestone 3 $0.00
Digitalization phase $7,000.00
Software development software developer, system
engineer, testing engineer $2,800.00
Integration into the
organizational business model
software developer, system
engineer, testing engineer $4,200.00
milestone 4: digitalization phase
completed $0.00

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monitoring of Digitalization
phase $22,080.00
developing suitable infrastructure system engineer, testing engineer $5,520.00
identifying the drawbacks system engineer, testing engineer $11,040.00
Customization system engineer, testing engineer $5,520.00
Milestone 5: Business process
digitalization completed
managing director, operation
manager, software developer,
system engineer, testing engineer
$0.00
Learning Outcome 2
Resource Allocation
Name Start Finish Remaining Work
managing director Thu 3/22/18 Wed 9/5/18 488 hrs
finance manager Thu 3/22/18 Thu 7/12/18 648 hrs
operation manager Thu 3/22/18 Wed 9/5/18 688 hrs
human resource manager Thu 3/22/18 Thu 7/12/18 648 hrs
Project manager Thu 3/22/18 Thu 7/12/18 632 hrs
system engineer Thu 3/22/18 Thu 9/20/18 1,320 hrs
testing engineer Thu 3/22/18 Thu 9/20/18 1,320 hrs
software developer Fri 7/13/18 Thu 9/20/18 400 hrs
Name Cost Baseline Cost Cost Variance
managing director $48,800.00 $0.00 $48,800.00
finance manager $32,400.00 $0.00 $32,400.00
operation manager $34,400.00 $0.00 $34,400.00
human resource manager $19,440.00 $0.00 $19,440.00
Project manager $31,600.00 $0.00 $31,600.00