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Mortgage Arrears Project

26 Apr 2012
Mortgage Arrears Project

A career defined by constant change has brought Derek Tierney to the elite status of IPMA Level-A Certified Projects Director - one of only six level-As in the country. His current role in the Department of Finance has seen him move away from working in manufacturing, engineering and transport based industries to implement a programme management framework. This is to assist the delivery of the recommendations of the report of the Interdepartmental Group on Mortgage Arrears (“the Keane Report”) as one part of the Government’s overall strategy to ensure a return to a stable and fit for the purpose banking system.

This new role involves setting up a Project Management Office for the Mortgage Arrears Project to support the project Steering Group, chaired by the Department of Finance, and comprising senior representation from other relevant Government Departments and the Central Bank.

This project will see the implementation of four main project elements as follows:

  • Personal solvency law reform
  • Mortgage to Rent/Lease schemes
  • Mortgage Advisory Function and
  • Engagement with the Banks

Derek’s role is also to support the implementation team, comprising several Project Working Groups established to ensure focus and delivery of these elements. It will also involve developing all the elements of a Project Execution Plan and process with a key project management focus on schedule/resource management, reporting/analytics/dashboard tools from implementation workgroups to steering committee to cabinet sub-committee, communication, decision and stakeholder management.

“It’s about developing a framework for a programme delivering four interlinked projects, understanding their objectives and the context that they are being delivered within.”

Derek’s view is that “more and more organisations, whether they are public, private or non-profit, are realising that well-managed projects are now seen as critical for success, to minimise waste and the burden to our economy through improper project selection, formulation and execution.” IPMA accreditation is valuable to achieving any project’s objectives. He is confident that this project management support underpinned by this globally recognised certification will be a valuable contribution to achieving this project’s overall objectives.”