With the benefit of hindsight, initial project planning, testing work and collaboration with the vendor were inadequate, and risk mitigations were not well enough established in advance. The project has now been completed with very satisfactory business outcomes, but better risk management and planning could have yielded better outcomes at lower cost. It need not be like this.
After an extended period in which policy rates were stable near the lower bound and asset purchasing was the marginal monetary policy instrument, the money market is now back to centre stage in the transmission of monetary policy and the MMCG is an excellent forum to collect feedback from you, the money market practitioners.