Building quality into the design and implementation of a major project for a regional bank

Sandra S Anderson

By Sandra S. Anderson*

I. INTRODUCTION

In the banking industry, the 1990s are characterized by an accelerating need to streamline internal operations in order to reduce overhead costs, yet still satisfy both internal and external customers1 needs for quality services. To facilitate these processes, most large banks have made sizable commitments to capital projects, but few resources are available to provide guidance in their design and implementation. Recognizing the substantial investment, risk, and competitive implications of any large-scale project, this paper uses an ongoing corporate database project at Washington Mutual Bank (WMB) as background for analyzing the planning and implementation processes, focusing on quality-related issues. This paper presents a practical approach for building quality into a project's design, and it uses a customer-supplier model as a framework for making decisions about quality-related issues during planning and implementation.

About Washington Mutual Bank

Founded in 1889 to provide savings account and home loan services to retail customers, Seattle's Washington Mutual Bank now makes more home loans than any other financial institution in the Northwest and is the region's largest independent consumer bank.1 Since 1990, the bank has experienced phenomenal growth, primarily through acquisitions. Total assets have grown from $7.7 billion in 19901 to $22.4 billion reported in January 1996.3 Recent acquisitions have expanded WMB's market presence from Washington and Oregon to Idaho, Montana, and Utah; and the banKs expansion targets now include commercial banks as well as other thrifts.4

Unlike many banks of comparable size, Washington Mutual has had no experience with the type of corporate database environment that banks commonly adopted during the 1980s. Instead, WMB has relied primarily on general ledger report writers and on various application system flat files accessed through outmoded extract tools. WMB's growth and the increasingly competitive environment have prompted the bank to take a hard look at its internal operations, and it now has several major reengineering initiatives under way, including a finance reengineering project. The database implementation has been carefully coordinated with several major process improvements under the umbrella of the larger finance reengineering effort.

Scope and Methodology

Washington Mutual's database project is used as background for this paper, and the author is indebted to project managers5 for sharing their documentation, ideas, and thoughts about the process. This paper, however, is not about Washington Mutual's project, nor is it a recitation of database performance features. Instead, it draws upon the author's personal experience,6 observations, interviews, and research to develop practical tools for addressing quality-related issues and achieving customer satisfaction in the design and implementation of a major project. The literature survey includes books, articles, and reports on project management, qual ity, customer satisfaction, and measurement techniques.

Hypothesis

Some of the pitfalls of implementing a large project such as a corporate database for a regional bank can be avoided by building quality into the project from its inception and by developing an implementation process that focuses on corporate values, drawing from a customer-supplier model to make decisions regarding quality issues.

II. OVERVIEW: TOOLS, TRENDS, TECHNOLOGY, AND REENGINEERING

Like their counterparts in other industries, banks have found that survival in the competitive 1990s means constant vigilance to assure customer satisfaction and make product and service improvements, yet at the same time reduce the costs of delivering those improved services. Recently, both organizational changes and technological advances have believe that "virtual banking" has transformed traditional banking forever. Virtual banking is:

A phenomenon in which multiple companies are involved in the creation of bank products and services, and in which customers can access bank services through multiple delivery channels. A virtual bank is the contact point through which these products and services, which may be produced by a number of disparate third parties, are provided to customers in the most efficient and responsive manner possible. Technology plays a pivotal role in this process.14

Bank spending on technology has risen, especially discretionary spending to improve business processes and customer services. Most of these technological investments are concentrated in five high-priority areas: "staying close to the customer, supporting better informed decision-making, reengineering business processes, coping with host-based systems, and looking toward a future of network computing."'5 To make informed investment decisions, managers must have readily available, high-quality information. Wise investments lead to innovative products and delivery vehicles, improved customer service, efficient internal processes, better risk management, and higher returns for shareholders.

With the prospect of unprecedented risks and potential rewards, bankers must rethink strategies and be willing to change the fundamental ways they do business. Washington Mutual's reengineering and database projects are a timely response to this challenging environment.

Washington Mutual's Reengineering and Database Projects

Washington Mutual's finance reengineering efforts are identified under three major initiatives: (1) to monitor and control the integrity of general ledger transactions, (2) to establish a common general ledger for all associated companies and reduce daily processing and month-end closing cycle times, and (3) to deliver information. This third initiative-the corporate database project-arose primarily because of widespread recognition of quality shortcomings in the banks data-gathering, analysis, and reporting processes.

Prominent in the project documentation16 are statements of Washington Mutual's mission and corporate values. References to these values appear in the project's vision statement and throughout the statements of customer needs, objectives, proposed solutions, expectations, and measurement tools. Goals and proposed solution statements for each of the initiatives, based on extensive interviews and research, helped the project team prioritize steps and plan a coordinated implementation process. Most phases of the first two projects were completed before the database irm plementation began, and completion of the database project itself is expected in the fourth quarter of 1996.

III. BUILDING QUALITY INTO A PROJECTS DESIGN AND IMPLEMENTATION

Decisions about quality-related issues are made throughout the development and execution of a major project, and on an ongoing basis throughout its useful life. This paper considers quality in a broad sense that is closely linked to corporate values, customer satisfaction, and excellence. Chapter III presents a practical approach for obtaining quality resuits in two major stages: the project's design and its implementation.

Building Quality into the Projects Design

Key features of a project's structure are: corporate values which guide quality decisions, the team that plans and executes the project, the design process itself, and the facilitators whose operations are affected by the project and whose cooperation is vital to its successful implementation.

Corporate Values

Corporate values had a major influence in the design of Washington Mutual's reengineering projects. Washington Mutual's mission is:

. . . to be one of the nation's premier financial services organizations. By providing customers in the Western United States with outstanding service and innovative products, and by maintaining a constant commitment to our corporate values, we will strive to achieve a superior long-term return for our shareholders.17 The company's long-term objectives are:

To achieve a strong financial performance. [Specific targets, omitted here, relate to profitability, efficiency, and risk control.];

To increase the number of households doing business with our organization, and to increase market share in key profitable product areas;

To nurture our corporate values of providing outstanding customer service, striving for constant innovation, maintaining absolute honesty and integrity, treating people with dignity and respect, and helping make our communities better places to live and work.18 Most financial institutions have similar mission and values statements. What is important is that from the time the idea first emerges until the project is completed, these values, which reflect corporate philosophies about quality, remain in focus and are used in making decisions. Mission and val ues statements must be reviewed and updated periodically, with executive management and boards of directors in full agreement on long-term objectives that guide strategic planning.

Analytical techniques described in Chapter II are not only useful, but necessary-especially at the executive level. It is at this level that value chain analysis, for example, identifies core competencies and indicates key activities that either add value or need attention. Exhibit 1 is a value chain for Washington Mutual. It summarizes the bank's core competencies, then, as an example, identifies key activities and sources of value for the banks finance functions. When key activities in a value chain are identified as unprofitable, management can direct its attention to altemative solutions like discontinuation, outsourcing, or reengineering. Value chains are powerful tools for assuring that corporate values and core competencies are in alignment.

The Project Team

A core project team should be appointed as early as possible and be accountable as "owners" of the project. A small-sized team facilitates internal communication and permits separate accountabilities for, say, technical leadership and overall project management. It is important that the team have senior management's confidence and that the team is empowered to set priorities, to negotiate (internally and externally), and to make deci sions within established limits.

This level of trust in the project team makes selection of team members extremely important. Useful selection criteria include:

Well grounded in corporate mission and values; able to think and act across functional lines;

Recognized leaders with strong vision and sense of purpose; Excellent communication, presentation, and interpersonal skills. Skilled negotiators;

Balanced representation of affected groups; trusted judgment; Individuals knowledgeable in technical project requirements and user needs;

Effective as both leaders and team members; able to translate strategic thinking into action plans.

The Project Design Process

Project design is itself a step-by-step process. The project begins with recognition of needs from which a preliminary framework may be forms lated. The scale or complexity of the project may indicate that the advice of an independent consultant is desirable. Finally, the project is formalized for the approval process. Each stage presents opportunities for building qual ity into the project. Some of these opportunities are summarized below.

Project formulation:

Gather, analyze, and summarize problem statements.

Create a conceptual diagram to visualize the project's scope, probable components, and key participants. Exhibit 2 is an example of a conceptual diagram from Washington Mutual's finance reengineering project.

Identify potential investment proposals as well as activities and processes that might be candidates for discontinuation or reengineering. Value chain analysis may be a useful tool to maintain focus on key activities that add value.

Establish a clear and simple vision statement linking the project to corporate values. To be a shared vision, the statement should be broad enough to encompass all participants.

Identify key participants, probable roles, process definitions, and critical success factors. Statements of objectives are linked to the vision statement and corporate values.

Establish a communication plan. Independent consultant's potential role:

Evaluate the project vision and scope.

Analyze and compare with best practices.

Identify alternative solutions.

Discuss probable costs and implementation times.

Help identify and evaluate vendors.

Consider resource requirements and probable roles. Proposal finalization:

Focus on the shared vision and its link to corporate values, quality, and customer satisfaction.

Establish ownership and control of the affected processes and specify roles, responsibilities, and accountabilities.

Identify customer-supplier relationships at a summarized level. Exhibit 3 is an example of a customer-supplier matrix that can identify relationships at a summary level within a banKs finance function. Expand critical success factors into customer expectation statements.

Use flow charts of key processes to identify and plan process improvements.

Include plans for testing, training, and tracking in the project design. During the project's design, it is likely that the customer-supplier model will identify multiple proposals to be evaluated and prioritized. A decision tree, as illustrated in Exhibit 4, may be a useful tool for screening and ranking competing proposals using decision criteria which are customized to suit the issues and the level where the decisions are to be made.

The Facilitators

At Washington Mutual, the finance reengineering project team found that it needed a group of management-level facilitators meeting on a weekly basis to act as liaison with the groups affected by process improvements and the database implementation. Although the project's name implies that it is confined within finance functions, its actual list of customers indicates widespread exposure throughout the bank and its subsidiaries. Nonfinance customers are represented in the facilitators group, which provides ongoing guidance to the project team on scheduling, commitments, and resource needs. In turn, facilitators provide their respective groups with project updates and help pave the way for implementation.

Building Quality into the Implementation Process

Project implementation goes more smoothly when planning has been thorough and thoughtful. Many of the techniques considered earlier are repeated during implementation, only at a more detailed, hands-on level rather than in the conference room. Even with careful preparation, however, changes can be difficult or threatening to some people, so it is worth recalling a few general tips:

People need reassurance that their jobs are not at risk. (If jobs are at risk, human resources consultants should be involved from the earliest possible stage.)

Training helps people gain skills needed to contribute in a new environment and thereby reduces resistance to change.

Attitude is important-a positive style is much more effective than confrontation or intimidation.

Communications have more value when they exchange, rather than just send, information and ideas.19

Win-win solutions are preferable to the alternatives.

Rewards and recognition are powerful motivators.

The 80/20 rule helps avoid unnecessary detail: "One can obtain 80% accuracy with only 20% of the maximum effort expended.20

What Is Quality?

In a general sense, quality is linked to values, satisfaction, and excel lence; however, as plans are translated into action it is useful to provide examples of quality issues that relate specifically to a database project. The issues shown in Exhibit 5, for example, are representative of database quality criteria that would be important in any bank. They are categorized in a top-down fashion where the first tier includes system and data integrity issues considered to be critical success factors or "showstoppers" that, if not deliverable, might cause the project to terminate. The second tier includes service level and end-user issues that are important, but which may be negotiated if resources are limited or if items are mutually exclusive.

Each project has its own quality criteria and each enterprise develops its own priorities, consistent with mission statements and corporate values. The remainder of this chapter examines a customer-supplier model, con sidering its use in performance measurement and its suitability as a tool for making project implementation decisions about quality issues.

How the Customer-Supplier Model Works

Key Performance Indicators (KPls) have been measured and graphically displayed in each work area at Washington Mutual for several years. Since reengineering efforts started in 1993, however, it has become clear that the measurement process itself needs to be redesigned to provide feedback that encourages continuous improvements and keeps performance focused on customer satisfaction. The customer-supplier model has been tested as part of a reengineering project in the loan origination area, and it clearly has widespread potential.

The key concepts in WMB's customer-supplier model21 are: (1) measure the process, not the department, and (2) let customer satisfaction drive the measurement. For performance measurements, the use of the model is slightly more elaborate than it might be as a decision-making tool. The key steps are:

Identify customer-supplier relationships within the process.

Determine customer elements of satisfaction.

Negotiate measures for customer elements of satisfaction.

For performance measurement, these steps are repeated to determine management's elements of satisfaction for the process (management as the customer), followed by a final iteration to examine management's customer-supplier relationships for the process (management as the supplier). At each level, measures are negotiated and clarified so they can be captured and reported. Management's elements of satisfaction are di rectly linked to corporate values.

Using a Customer-Supplier Model For Performance Measurement

Washington Mutual has started using a customer-supplier model as a tool for developing performance measurements and recognizes its value in reengineering efforts. Performance measurement and project implementation decisions have much in common, and they should be coordi nated so that measurements are not barriers to change. The danger arises because many traditional performance measures, which are based on departmental objectives developed within isolated functional groups, can actually cause suboptimal behavior, including resistance to process improvements. On the other hand, Steven Hronec notes that:

Performance measurement-the right kind of measures-can drive change throughout an organization. As countless studies have shown, people act as they are measured. To change a performance measurement system is to change how people understand their contribution to the corporate vision, mission, and strategy.22

Traditional performance measures, particularly financial indicators, tend to focus on past actions. These are called output measures. By themselves, output performance measures "are insufficient to help management focus on what is important to the customer."23 One of Washington Mutual's goals is to develop process measures that point to areas for improvement. These operational measures, which frequently cross functional boundaries within the organization, are the drivers of future performance. Both kinds of measures, output and process, are appropriate, but a balance is needed to encourage meaningful process improvements as well as cooperation across functional lines.

Performance measurement at Washington Mutual is an integrated system that is seen in four organizational levels, shown here from top down:

Strategic (CEO, external customers);

Business (senior management);

Process (process owners);

Activity (staff level.

Most of Washington Mutual's current measures exist at the strategic and business levels. In order for process improvements to take place, however, measures need to be brought to the process and activity levels where employee actions can have an impact on achieving corporate oS jectives.24 When measurements are brought down to the process and activity levels, the upward linkages must be kept in focus to assure that they are consistent with strategic corporate objectives. Sometimes there are apparent conflicts between customer needs and management objectives that must be carefully balanced.

Adapting the Customer-Supplier Model for Project Implementation Decisions

The basic steps described above for performance measurement using the customer-supplier model can be used in making quality-related decisions during project implementation. As mentioned in the project design discussion above, customers and suppliers in the areas affected by the project are identified in a summarized matrix (Exhibit 3). At this senior management level, interviews and discussions determine elements of satisfaction for the project, and the highest priority elements are considered to be the project's critical success factors.

Implementation requires determining the project's impact on customersupplier relationships at the most detailed level. Identification involves decomposing processes into individual activities. Exhibit 6 is an example of an activity-level customer-supplier matrix for a banKs finance functions. This matrix can be used to determine which customer-supplier relationships (intersections) are most affected by project implementation, and the implications of change in one relationship to other relationships of the same supplier or of the same customer.

Portions of the matrix that are most sensitive to change can be expanded for even more detailed analysis in order to determine and satisfy customer expectations within the project scope. The matrix can be used to prioritize relationships, adding scores across or down for activities that affect more than one customer or supplier. Other analytical tools, such as decision trees, can help with the ranking or scoring process. Finally, flow charts, if not already prepared in the design process, may be used here to identify inefficiencies such as backtracking or bottlenecks, opportunities for sharing, or low-value activities that do not contribute to customer relationships.

As mentioned earlier, most of the tier 1 quality standards shown in Exhibit 5 are high-level project deliverables (critical success factors) which are established early in the design of the project. Tier 2 quality standards are also important, but sometimes must be negotiated during project implementation if resources are limited or if items are mutually exclusive.

An additional reason for negotiating quality standards during implementation is illustrated by an example from Washington Mutual's experience. The finance reengineering projects expanded vision statement includes a list of goals and philosophies. Two separate statements in the list indicate a strong initiative toward integrated solutions:

Establish a consistent, common framework for decision making in terms of values, policies, performance measurements, rules, and definitions. Create common solutions where there are efficiency gains and independence of judgment is not compromised.25

One of the findings of the project team is that the banKs products are defined in different ways by several of the activity-level finance groups shown in Exhibit 6. Recognizing that the database project will be strengthened by common data definitions (one of the quality standards listed under "service levels" in Exhibit 5), the project team brings together key participants from the affected groups to determine whether a common view of products is feasible.

In this example, the affected suppliers are cost analysis, transfer pricing, and asset-liability management. If these groups, as suppliers, agree on feasibility, then the customer-supplier model can be used to assure that customer satisfaction objectives will be met if a common product list is implemented. The model indicates that customer-supplier roles switch within these groups; for example, cost analysis is a supplier to transfer pricing, which in turn becomes a supplier to asset-liability management. And all of these groups are suppliers to customers in other departments, as well as to executive management.

Finally, the customer-supplier model is used to negotiate measures for customer elements of satisfaction. In the situation illustrated above, the three affected groups are responsible for negotiating appropriate measurements with their respective customers. Post-implementation measures, for example, might reflect shorter cycle times, better consistency, and improved accuracy.

Preliminary indications are that the key steps of the customer-supplier model can enhance the decision process in this example. An unforeseen advantage is that because the emphasis is on the long-term quality of the whole process, an individual supplier may take the initiative to suggest improvements that in the short run actually mean more work. The resulting pride of ownership of the activity and strengthened relationships with customers benefits the entire organization.

The Quality Wheel

A quality wheel is presented in Exhibit 7 as a simplified framework for making decisions in a dynamic environment. At the hub of the wheel is the mission statement, which is reinforced by corporate values. Process improvements, customer satisfaction, and feedback radiate from values, with arrows representing the continuous improvement cycle, as well as the wheel's forward motion. Because of the changing environment, even the mission and corporate values must be updated periodically to steer and control the motion of the wheel. The quality wheel is the essence of the practical approach to obtaining quality results in the design and implementation of a major project.

Summary

This chapter has shown some practical ways of building quality into a project from its inception through its design and implementation. By focusing on corporate values and customer satisfaction, the customer-supplier model can enhance the project's quality and also create a useful transition to post-implementation performance measurement.

Project implementation and performance measurement both depend upon periodic evaluation of corporate values and elements of customer satisfaction. The quality wheel illustrates that feedback is a vital component of the continuous improvement loop; feedback and incentives should direct behavior toward corporate values.

IV RECOMMENDATIONS AND CONCLUSIONS

Several examples from Washington Mutual's experience can provide useful insights and inspire further work dealing with quality issues in major projects.

Recommendations

One of the recommendations in Chapter III is to enlist the services of an independent consultant for a very large or complex project. At Washington Mutual, this step enhanced the project's credibility and made a substantial contribution to its success. WMB selected a firm with a national reputation for bank technology consulting, and focused the engagement on specific objectives. As agreed, the consultant's findings were summarized in a management letter and in a presentation to the bank's executives. The consultant helped communicate the project team's vision by creating a graphic image of an integrated database, and his best practices analysis helped influence executive decisions regarding basic quality issues in the design of the system.

The project team at Washington Mutual understands the importance of a shared vision. For example, the team recognized early in the project's design that its broader acceptance would be enhanced by being called a "corporate" database rather than a "financial" database. Still, the sense of ownership of the project is not as widespread within the bank as the project team had hoped, even though many groups have been involved as both customers and suppliers in the planning and implementation. Experience may be the best guide in deciding how much a project's ownership and vision-sharing can be broadened without causing inefficiencies. This would be an excellent topic for further study.

Following up with customers is an important part of implementation. At WMB, the team pilot-tested the project in the treasury accounting and operations department, and followed up with surveys to assess strengths and weaknesses. This is consistent with a view of the project team as the supplier of the database and the department as the customer. Further studies are recommended to reveal how customer-supplier concepts can link the decision-making processes with subsequent performance measurements, and finally to develop integrated incentive systems that reward and encourage process improvements rather than just output.

Conclusions

This paper examines the hypothesis that some of the pitfalls of implementing a large project, such as a corporate database for a regional bank, can be avoided by building quality into the project from its inception and by developing an implementation process that focuses on corporate values, drawing from a customer-supplier model to make decisions regarding quality issues.

The discussion considers today's dynamic banking environment, including the rapid pace of organizational change and the impact of new technol ogy on banks' expenditures for capital projects. In response to these changes, banks are competing to attract and retain customers with the knowledge that they must not only satisfy customers but also make continuous improvements at minimum cost. Serving customers in a world of virtual banking is highly dependent upon technology, and it is expensive.

It is clear that bankers are making large capital investments in technol ogy and they are reengineering their operations because they have to. For such investments to add value, they must be consistent with core competencies, which in turn reflect corporate strategies and values. The quality wheel is a convenient way of visualizing the relationships among quality, corporate values, and customer satisfaction in a dynamic environment.

As shown in this paper, the customer-supplier model is a flexible, focused, and fair planning and decision-making tool. Its flexibility makes it adaptable for use at all levels of planning and implementation, along with other techniques as appropriate. Because of its focus on customer satisfaction and corporate values, the model encourages fair solutions to implementation issues, and it can inspire unselfish individual behavior.

This paper demonstrates, through examples from Washington Mutual Bank, that there are practical tools that can help build quality into the design and implementation of a significant project.

Washington Mutual, Inc., "hg for the Future; 1994 Annual Report and Form tK, Seattle, Washington,1995, p. 3. 2 bd., trs de fronl cover.

3 Washngton Mutual Bank, Board of Diredors Report, January 1996. 4 Bil Vn, Washington Mutual Aims to Stay on Top," SeaMe Post-/nte/ February 26,1996, p. B3.

Speciai thanks to George Moerhg, Vice President and Manager, Financial and Performance Analysis, Washington Mutual Bank, and Lynn Burkholder, Vice President, Financial and Perfonnance Analysis, Washington Mutual Bank.

Currently responsible or cost analysis at Washington Mutual, the author was a financial reporting manager with First Interstate Bank from 1989 to 1995, and was closely involved with a major database conversion proJect during that period,

4E&Y, 1995>dal Report, p. 3. 5 E&Y, 1994 Special Report, p. 1.

Lynn Burlder, Unpublished Finance Reengineering Projed Documens, Washington Mutual Banks 1 1996.

17 Washington Mutual News, August 1,1995, p. 1. Is Ibid.

19 Steven M. Hronec, Vital Signs: Using Quarry, Time, and Cost Performance Measurements to Chart Your Company's Future, New York: AMACOM, American Management Association, 1993, p. 80. 20 Dennis G. Uyemura and Donald R. Van Deventer, Financial Risk Management in Baning, Chicago,

lanob: Bankers PubishIng Company, 1993, p. 128. 21 Morgan, p. 31.

2 Hronec, p. v. 2/bid., p. 127.

24 Morgan, p. 31.

25 Buder,1994.

BIBLIOGRAPHY B*

Berry, Leonard L. and A. Parasuraman, Marketing Services: Competing Through Quality, New York, NY: The Free Press, 1991. Hronec, Steven M., Vital Signs: Using Quality, Time, and Cost Performance Measurements to Chart Your Company's Future, New York: AMACOM, American Management Association, 1993. Smith, Hedrick, Rethinking America, New York: Random House, 1995. Uyemura, Dennis G. and Donald R. Van Deventer, Financial Risk Management in Banking, Chicago, Illinois: Bankers Publishing Company, 1993. Periodicals

Bosco, Pearl, "Under Lock and Key," Bank Systems + Technology, June 1994.

Drucker, Peter F, "The Information Executives Truly Need," Harvard Business Review, January-February 1995.

Griffin, Abbie, Greg Gleason, Rick Preiss, and Dave Shevenaugh, "Best Practice for Customer Satisfaction in Manufacturing Firms," Sloan Management Review, Winter 1995.

Hart, Christopher W. L., "The Power of Internal Guarantees," Harvard Business Review, January-February 1995. Humenuik, Kerry and Sharon Hamilton, "Creating Trust in CustomerSupplier Relationships," Journal for Quality and Participation, JanuaryFebruary 1994.

Hunton, James E. and M. K. Raja, "When is a Database not a Database? (When It's a Spreadsheet)," Journal of Accountancy, June 1995. Landry, Pete, "Benchmarking Strategy," Executive Excellence, June 1993. Long, Carl and Mary Vickers-Koch, "Creating a Vision Statement That is Shared and Works," Journal for Quality and Participation, June 1994. Miller, William D., "Achieving Effective Measurement and Reporting," The Journal of Bank Cost and ManagementAocounting, Vol. 4, No. 2,1991. Owen, David, "Calculating Customer Happiness," Managing Service

Quality, January 1993.

Port, Otis and Geoffrey Smith, "Beg, Borrow-and Benchmark," Business Week, Special Report, November 30,1992.

Poulsen, Neil, "Mini-Workshop: Reengineering as a Successful Quality Intervention," AQP Report, The Association for Quality and Participation Newsletter, February/March 1995.

Punch, Linda, "The Big-and Small-Profitability Picture," Bank Technology News, March 1994.

Redman, Thomas C., "Improve Data Quality for Competitive Advantage," Sloan Management Review, Winter 1995.

Schoemaker, Paul J. H., "Scenario Planning: A Tool for Strategic Thinking," Sloan Management Review, Winter 1995. Sraeel, Holly, "Five Major Trends in Banking," Bank Systems + Technology, January 1995.

Teixeira, Diogo, "Data Warehousing: Gaining Control of Information," American Banker, October 10, 1994.

Virgin, Bill, "Washington Mutual Aims to Stay on Top," Seattle PostIntelligencer, February 26, 1996. Interviews

Burkholder, Lynn, Vice President, Financial and Performance Analysis, Washington Mutual Bank, April 12,1996. Moering, George, Vice President and Manager, Financial and Performance Analysis, Washington Mutual Bank, March 4, 1996. Morgan, Jeff, Vice President, Financial and Performance Analysis, Washington Mutual Bank, March 29,1996. Reports

Ernst & Young and American Banker, Managing the Virtual Bank 1995: Fourth Annual Special Report on Technology in Banking, Ernst & Young LLP, 1995.

Ernst & Young and American Banker, Choosing the Right Path to Virtual Banking: The 1994 Special Report on Technology in Banking, Ernst & Young LLP, 1993.

International Quality & Productivity Center, NABCA, and The Foundation for Performance Measurement, Implementing the Balanced Scorecard in Financial Services Organizations, Conference Proceedings, New York: December 12-15,1995.

*Financial Analyst, Washington Mutual Bank Seattle, Washington Submitted in partial fulfilment of the requirements of the Pacific Coast Banking School conducted at the University of Washinglon.

Copyright National Association for Bank Cost & Management Accounting 1997
Provided by ProQuest Information and Learning Company. All rights Reserved