Project Management in Banking Sector on the Example of AO KB Citibank

In a modern economy, which involves the presence of high competition and serious requirements for business efficiency, most companies are looking for ways to improve organizational performance, more accurate and timely achievement of goals. This issue is relevant for all sectors of the economy, including for regulated industries, as international and domestic norms create constraints in the activities of companies, and also force to incur additional costs for compliance with them. The banking industry in Russia has undergone serious changes in recent years, many small and even large banks have been liquidated, the profits of banks are dropping, the conditions for doing business are getting tougher. One of the solutions that make it possible to increase the efficiency of the business, reduce costs and better achieve the goals and objectives is project management, which is becoming increasingly popular and extends to areas that are not exclusively engaged in project activities. This is justified in part by the effectiveness of these tools and methods in achieving project goals and objectives, planning, and managing time, budgets and resources. Project management in banking sector will be considered in this paper. The research will analyze both theoretical sources, including scientific articles, magazines, books, and practical cases of application of project management practices in banks. The result of this work is the application of theoretical and practical findings obtained during the analysis, with the purpose of developing recommendations for improving the processes of project management in Citibank.