Project Management Research On The Risk Management Of Personal Foreign Exchange In Minsheng Bank,Shenyang Branch

Under the influence of the governmental policies aimed to open the foreign exchange market to the world gradually,the foreign exchange market has reached the stage of diversified development.With the growing demand for the personal foreign exchange business,the management of personal foreign exchange will also encounter new changes,which will present a new challenge to the national economy and the policies aimed at regulating the foreign exchange.As the easy economic policies are put into effect,the State Administration of Foreign Exchange has already strengthened the regulation over the foreign exchange business of financial institutions.It has made new demands and rating standards for those financial institutions.It will also require those foreign exchange operators to tighten the internal control as well as explore more effective modes and methods for foreign exchange management.Moreover,they should step up efforts to push forward relevant business and implement the regulatory system.This paper aims to research the project for improving the risk prevention of personal foreign exchange business in Shenyang Branch of China Minsheng Bank(hereinafter referred to as Minsheng Shenyang).Based on the theory of project management,this paper has made a study of the risk prevention for the personal foreign exchange business in Minsheng Shenyang with the purpose of realizing the risk prevention before the business,early warning during the business and effective supervision after the business.In addition,this paper will elaborate on the initiation,planning,implementation,control and end of the project.By referring to the theories related to project management,it will also identify and analyze the potential risks in the whole project.To be more specific,the identification,assessment and evaluation of the risk in the project of risk prevention for the personal foreign exchangebusiness will be carried out.The relevant risks will be listed according to the occurrence probability of risk events.In view of the risk management for the project,this paper will provide the guarantee measures,such as process guarantee,personnel guarantee and supervision mechanism guarantee.As far as the management of project scope is concerned,the project objective should be determined.It can be ensured that unnecessary functions and additional objectives will not be set at the stage of defining the project for improving risk prevention of personal foreign exchange business in Minsheng Shenyang.In this way,it can avoid the waste of resource and variance from the objective.As to the management of project progress,the project plan will be made.WBS table has been used to divide the deliverables and project tasks into smaller components for easier management.The qualitative and quantitative content for each stage of the project will be also determined.The tasks and expected effects of the project at all stages should be made clear.It will assist the project progress specialists to keep track of the execution of project progress plan regularly,including the progress,result and degree of variance for each unit.Those problems which are not consistent with the project progress plan will be analyzed so that the necessary adjustment can be made accordingly.The multi-index comparative control system should be built for the management of project quality.Further efforts should be also made to prevent and correct the variance in a timely manner.The key risk at each stage will be analyzed from multiple dimensions.The aim of this research is to summarize an effective management mode for project scope,progress and quality after analyzing the project for improving risk prevention of personal foreign exchange business in Minsheng Shenyang.It will also provide valuable reference for the application of project management theory to the development of banking business.