Question: Find 3 risks and their respective response plan for the following case study. You are a Marketing Manager at the Bank of Montreal. You specifically
Find 3 risks and their respective response plan for the following case study.
You are a Marketing Manager at the Bank of Montreal. You specifically work on the bank's Mortgages marketing efforts. Your boss, VP of Marketing, Kevin Grant, has just approached you with a request to kick off a new project to update your section of the banks website. Having reviewed the website in a lot of detail, Kevin had become concerned that the Mortgages section of the website is of poor quality. He expressed his frustration to you that the Mortgages web pages seemed to be out of date: the images didnt comply with new brand requirements and standards that were introduced in 2019, some of the details on how to apply for a mortgage is old/inaccurate, and the site lacked information about the new virtual bankers that can be accessed to process mortgage requests online. You promised Kevin to have the website fixed in time for next years annual Mortgage Blitz marketing campaign, which you run each year from January 15th to March 20th. As you walk away from your meeting with Kevin, you are feeling anxious. You have never managed a website redesign project before. You ask your colleague Natalie, who has recently led a website update for savings and investment products, how much something like this might cost and how long her project took. Natalie says that her website redesign project took 8 months to execute and cost $150,000. She says that one of the reasons it took so long was because Natalie originally neglected to involve Matty Tan, VP of Digital Experience, into her project but says it should be a requirement in yours. Once Matty was brought onto the team, he intervened and requested that a Digital Customer Experience Audit be completed before the website design was finalized, in order to make sure the site layout was user-friendly. Natalie says that in retrospect, it is a good thing that Mattys team got involved; the improved customer experience design has led to a 15% increase in revenue. Natalie says you can probably estimate the same increase in business as a result of your website redesign. You make a note for yourself to ensure that a Digital Customer Experience Audit is part of your projects plan from the beginning. Natalie offers you some other tips: VP of Finance, Andrea Gatty, is supposed to approve all projects over $100,000. Natalie also cautions you that the Retail Branch team is always very concerned about in-branch materials (like brochures and flyers that are handed out at the banks many locations) matching what is on the website, which means that the text and images you put on the site must be checked against the text and images in the branch materials. Vanessa Cheer, VP of Information Technologies will also want to approve this project, since she will need to allocate human resources from her department in order to make any website changes. Of course, you will need help from your creative agency to find new images for your website that fit with the new brand guidelines and requirements. Even though January seems far away, you are starting to realize just how big and complex this project is going to be. Thankful for Natalies guidance, you head back to your desk to draft a Project Charter for Bank of Montreal Mortgages Website Relaunch.
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