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IFRS 17 Implementation on Project Management Office

It is important to have a strong PMO to manage such a complex project as IFRS 17.  We can second experienced member to be head of PMO for an insurer.

The project manager will be responsible to manage the project and communicating with stakeholders, as outlined in the main point below.

              • Defining the scope of the project, establishing a timeline, and ensuring project quality

The project manager will define key deliverables and milestones and will ensure that all tasks necessary to complete the project with a high quality are accomplished.

              • Communicating and keeping the project's status updated

The project manager will communicate with related stakeholders, including top management and working level, to keep them informed of the project's progress on completed tasks.

              • Assessing critical risks and bringing up critical issues

The project manager will identify bottleneck issues and handle critical risks to ensure that the project runs smoothly.

              • Changing request management

The project manager will gather any changes requested by the client and communicate these to the project committee for consideration as a possible next step using a fair and helpful standard.

Scope of work

              • Meeting arrangement (meeting each time)

              • Minutes summary (making and summarizing meeting minutes)

              • Conduct the meeting (Presiding over the meeting)

              • Status Update and Progress (monitor the progress of work using a Tracking worksheet)

              • Manage the timeline (controlling work within the timeline using Gantt Charts and other monitoring tools)

              • Coordination among stakeholders (as a middleman in coordinating each relevant sector)

              • Training planning and arrangement (Planning and Appointment Training)

               • Update potential issue (if any) and problem solving along with telling how to solve the problem and follow up on problems that occur until the system is up.




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