Information Systems in Banks Coursework Example | Topics and Well Written Essays - 7500 words

Information Systems in Banks - Coursework Example The failure of the projects is only due to mismanagement of information systems. They recommended revising the system for companies' betterment. This research has been carried out as a project management task that mostly concentrates on information systems primarily focusing on banks. After going through the literature it has been noticed out that, though whole process is getting segmented in some of the approach for making the project more efficient but, due to inadequate flow between the sections and improper mapping total outcome is not coming satisfactory. Here, one business process model is proposed that can be implemented in finance companies for transactions easiness, efficient account handling and providing a common framework worldwide. One flow chart is also provided stating how simple transaction can take place with the proposed model. Finally, it is concluded with the theme, let information system can be maximally utilized into industries and we are in a position to cross another milestone. The future scope of this research can be developing another model which will incorporate many other constraints that have not been used here only due to tool unavailability. The main purpose of this research is to seek for the barriers that usage of Information System (IS) in industry like bank, construction etc are facing and analyze the applicability of project management approach to them. Land (2004) defined information system as system which aims to store and manage information. Informatization is a process of minimizing cultural and economic barriers by information and communication technology after proper transforming its economic and social relationships (Kluver, 2000). Informatization of a company results into reduction of total cost and this key knowledge has increased the possibility of organizations to use IT. Back and Moreau (2000) showed that the potential benefits of information management only can be fully maximized by making possible the information exchange throughout the organization and also across all its boundaries if it has any. For this reason, integration and preservation of project information is a vital thing. Due to the rapid change in business to make the company more flexible, a methodology is needed which can permit planning, analysis and redesign of a process after taking into account of the available technology and resources. In this report, role of IT in industry and their effectiveness in the growth of an organization are described. As Price System noticed that