PR-2403Meridian BankSteady state

Core Banking Modernization

Execution · FixedFee · Jun 2, 2025 → Mar 30, 2027

Project at watch

2 concerns: Budget, Risks.

Health drivers

Signals contributing to overall project health.

  • High
    Budget
    Burn 31% above plan.
  • Medium
    Risks
    2 open High-severity risks.

Financial health

Burn vs. plan, margin now and at completion.

Total budget
$18,500,000
Actual cost
$11,900,000
Planned value (BCWS)
$9,100,000
Earned value (BCWP)
$8,800,000
Estimate to complete
$9,500,000
Remaining budget
$6,600,000
Burn vs plan
131%
Current margin
-35%
Forecast margin
-16%
Over budget

Team

Engagement leadership. Full allocations land with the resource service.

Client
Meridian Bank
Industry
Financial Services
Account owner
Marcus Whitfield
Partner
Marcus Whitfield
Project manager
Cora Bellingham

Per-resource allocations and over/underutilization land with the resource-planning slice.

Delivery milestones

In-flight delivery milestones with PM-reported confidence.

No milestones recorded.

Risks & change events

Open risks and recent changes affecting scope, schedule, or staffing.

Open risks

  • High
    Burn rate 31% above plan
    Budget · 100% likely · Cost-to-complete exceeds contract by ~$2.9M
  • High
    Client-side architect turnover
    Client · 80% likely · Architectural decisions stalling for 2-3 weeks
  • Medium
    Vendor integration scope expanding
    Scope · 70% likely · +$400k effort if absorbed

Recent change events

  • Risk
    Client CIO requested cost-to-complete by Friday
    Apr 29, 2026 · Partner-level engagement required
  • Staffing
    Sr. Architect rolled off — replacement starts W19
    Apr 27, 2026 · 2-week effective gap
  • Scope
    Added card-services integration to MVP
    Apr 21, 2026 · +$650k uncommitted effort

Leadership actions

Recommended interventions surfaced by health signals.

No interventions recommended this week.