Adalbjorn Thorolfsson Interview: PPM best practices for managing risk in financial services.

President of the Project Management Association of Iceland and managing director and senior consultant at Projectus, Adalbjorn Thorolfsson talks about project and portfolio management (PPM) in the context of financial services. He shares insights into his role as the director of portfolio management at Icelandbanki, discussing the challenges faced and the strategies implemented. He emphasises the benefits of utilising PPM software to streamline prioritisation, governance, and strategic portfolio management, providing real-time overviews and aggregated information for informed decision-making.
He touches on the challenges of prioritising compliance projects and the specific risks inherent in financial services projects—including cybersecurity vulnerabilities, customer experience impact, transactional risk, internal fraud, and compliance considerations. Thorolfsson provides insights into the criteria for prioritising projects in financial services, focusing on strategy, financial benefit, and operational risk, and delves into the nuances of Waterfall/Predictive, Agile, and Hybrid project management approaches.
Thorolfsson also discusses the importance of balancing resources and reducing the time spent on compliance and operational projects to support strategic goals. He explains the approach of setting goals and implementing continuous improvement projects to achieve this balance, as well as the impact of organisational changes on project delivery. Furthermore, he provides valuable insights into the importance of integrating PPM software with other systems, emphasising the benefits of integration with ERP, financial planning, time tracking, and resource planning.