EXPLAIN IN BRIEF WITH CASE STUDY COMPARISON ON THE POSITIVE AND NEGATIVE EFFECTS OF AGILE PROJECT MANAGEMENT IN BANKING SECTOR

ANALYSIS

Comparing the positive and negative effects of Agile in Banking.

Positive Effects of Agile in Banking.

1. Research has highlighted several positive effects of Agile management in the banking sector like Increased customer satisfaction, Faster time-to-market, Improved team collaboration, Enhanced project visibility and transparency.
2. Agile methodologies promote cross-functional collaboration, self-organizing teams, and regular communication. This leads to improved teamwork, better knowledge sharing, and increased employee engagement among banking teams.
3. Negative Effects of Agile in Banking.
4. Implementing Agile practices requires significant organizational change and a shift in mindset. Some employees and stakeholders may resist the change, leading to challenges in adoption and cultural transformation.
5. Agile methodologies prioritize flexibility and adaptability, often focusing on delivering value incrementally rather than detailed upfront planning. This can create challenges when banks require extensive planning and coordination, especially for large-scale projects.