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  • Writer's picturePaul Gravina

Work Breakdown Structure Charts for New Financial Products and Services

The Work breakdown charts are used as a starting point for scope management and are integral to other PMI processes. At Owls Nest Capital WBS is used and is useful during the preparation of new products and financial services: loans, deposits, credit cards, etc. There are changes you can make to your WBS charts, you can change them to an indented chart because the format is preferred over the flow format when your project is large. Also, if you are contracting or work for government agencies they require the indented format WBS when a Request for Proposal (RFP) is submitted to bid on a project. These charts come in handy for a multitude of job descriptions, quality assurance, business financial analysts, project managers, business owners and always uncover areas that might have been missed during the planning and or analysis phase of the development lifecycle. (SDLC) Even though the WBS is widely known as the primary tool used to scope a project, I have seen it used successfully in requirements gathering and analysis, quality assurance, design and development, implementation, and training in the financial field.

Keys to maximizing your WBS:

1. Assigning responsibility.

Once you identify all the elements of a WBS, it is very straightforward to determine (skill sets) who should perform the work.

2. Scheduling.

Scheduling addresses the WHENS. Once you know who is doing the work it will not be difficult to construct a schedule for the project.

3. Assigning costing.

Assign costs to each activity in the WBS chart, then you accumulate the costs at the higher-level tasks and finally, you will have the total cost of the project. I have attached an example of a financial New Products and Services WBS below so you can see how they are used in financial applications.

I added an example of financial WBS below for New Financial Products and Services.


Owls Nest Capitals use of Work Breakdown Structure Charts for New Financial Products and Services
Work Breakdown Structure Charts for New Financial Products and Services

Example of Work Breakdown Structure Charts for New Financial Products and Services
Work Breakdown Structure Charts for New Financial Products and Services

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