Project Management
It's all about managing the project...whether your company desires to develop an enterprise application or single use application...First Place Resources has the knowledge and expertise to turn your project into a highly useful product.
Using agile development methodologies, we focus on managing software development using short, well-defined iterations that produce workable software quickly and effectively.
Utilizing technology to empower your people requires quality project management, accurate software development and highly functional hardware. This recipe produces a positive return on investment and foundation upon which you can build your business.
As your 21st century partner, First Place Resources can help you find ways to grow your business, expand product offerings and diversify revenue streams.
Case Studies
Financial Institution
Problem: This Bank held approximately $300 million in student loan assets that were managed by five different third party servicers. The Bank desired to downsize its asset base and increase profitability without deteriorating product and service delivery to its customers.
Solution: First Place Resources managed the sale of approximately $275 million in assets over a 12 month period of time. The sale of these assets generated fee income which positively offset reduced yield and increased program costs. First Place Resources then worked with the Bank’s management team to reduce the number of third party servicers, increase the number of income-generating product offerings and maintain staffing levels which resulted in long-term improvement of the net profit margin.
Third Party Servicing Agency
Problem: Over the course of several years, this company exceeded budget and dedicated several key staff members to a system development project that was later determined to be non-functional and less than 10% complete.
Solution: First Place Resources stepped in to manage the project and, within 60 days, initiated an agile development process that produced production-ready, functional software within 180 days of initiation. Using an iterative approach, the new project has been maintained at 97% efficiency and at or below budgetary expectations. This company is now utilizing this servicing system as the cornerstone for a new and improved business model focused on expanded product and service delivery.
State Governmental Agency
Problem: The Agency was operating at a less than satisfactory rate of efficiency in terms of project management, account servicing, customer service, and default collections.
Solution: First Place Resources evaluated the Agency’s day-to-day operations, technology infrastructure, organizational chart and standard operating procedures. A management report was prepared and delivered to the Agency’s management team and included 20 recommendations that centered upon more thorough project management tracking, more effective and efficient utilization of technology and a more structured organizational chart that focuses upon total quality management and reporting lines that ensure healthy communication and decision-making. The Agency has adopted many of the recommendations and currently experiences a higher degree of efficiency and improved communication and program management.