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Enron Mail |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/31/2000
02:56 PM --------------------------- VKaminski@aol.com on 01/30/2000 02:11:27 PM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Fwd: Credit Applicatiions in GRMS Return-Path: <vkamins@ect.enron.com< Received: from rly-yh03.mx.aol.com (rly-yh03.mail.aol.com [172.18.147.35]) by air-yh03.mail.aol.com (v67_b1.21) with ESMTP; Fri, 28 Jan 2000 17:34:19 -0500 Received: from mailman.enron.com (mailman.enron.com [192.152.140.66]) by rly-yh03.mx.aol.com (v67_b1.21) with ESMTP; Fri, 28 Jan 2000 17:34:06 -0500 Received: from dserv1.ect.enron.com (dserv1.ect.enron.com [172.16.1.37]) by mailman.enron.com (8.8.8/8.8.8/corp-1.03) with ESMTP id WAA12938 for <vkaminski@aol.com<; Fri, 28 Jan 2000 22:33:40 GMT Received: from notes.ect.enron.com (notes.ect.enron.com [172.16.4.33]) by dserv1.ect.enron.com (8.8.8/8.8.8) with SMTP id QAA21960 for <vkaminski@aol.com<; Fri, 28 Jan 2000 16:34:05 -0600 (CST) Received: by notes.ect.enron.com(Lotus SMTP MTA v4.6.5 (863.2 5-20-1999)) id 86256874.007BF6C3 ; Fri, 28 Jan 2000 16:34:00 -0600 X-Lotus-FromDomain: ECT From: "Vince J Kaminski" <vkamins@ect.enron.com< To: vkaminski@aol.com Message-ID: <86256874.007BF56A.00@notes.ect.enron.com< Date: Fri, 28 Jan 2000 16:33:56 -0600 Subject: Credit Applicatiions in GRMS Mime-Version: 1.0 Content-type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: 7bit ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/28/2000 04:33 PM --------------------------- Bjorn Hagelmann 01/28/2000 09:25 AM To: William S Bradford/HOU/ECT@ECT, Jonathan Le/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT cc: Rick Buy/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT Subject: Credit Applicatiions in GRMS THIS NOTE IS FROM TED MURPHY (not bjorn hagelman) My understanding is that yet another meeting has been scheduled with the intent of diverting resources from the GRMS project to some other project. While I am not privy to the urgency of this other project, I do know that we have a very large, multi -phase project going in GRMS. GRMS stands for the GLOBAL RISK MONITORING SYSTEM. It is not intended to be a commercial trading product not is its primary purpose for commercial decision-making. Conceptually, it is a risk warehouse for the primary purpose of RAC due to the deficiency of current front office trading systems and their inability to provide timely, aggregated information useful to RAC. RAC has spent over a year developing a business plan scope and detailed task list to accomplish its objectives. As a firm we are woefully behind our press clippings in our ability to aggregate and understand our risk profile. My most recent sojorn in Europe is a classic example of the current systems inabilty to aggregate and meet the needs of RAC having abetted poor decision making and causing cash losses in well in excess of the GRMS budget or that of the Market Risk Group in RAC. The GRMS project is a requirement that Bill Bradford and I have in order to do our jobs. We have delegated authority to Debbie Brackett and Rudi Zipter to make decisions regarding priorities and as such meet regularly with Jonathon and his team as well as Rick Buy to provide updates. While progress is never as fast as we would like it, in every instance in which we have only to rely on RAC, Jonathon's team and Research to make a deadline it haas been hit. The primary reason for any delays whatsoever has been the diversion of resources off the project or the reliance for cooperation from some other source - most recently the IT staff in London was a tremendous impediment to deadlines. Please excuse the frustration that is apparently coming through in this note, but I feel like the boy with his finger in the dyke and no one is listening. Also, I have had several employees come to resignation over their frustration on the lack of management support for this project, usually manifesting itself in the lack of resources or the diversion of resources devoted to it. I think we have proven collectively that we can organize a modular multiphase project and provide tangible deliverables when not distracted. Please let us do our jobs. I do not denigrate the efforts of others, but I believe that they must either submit their detailed requirements to us for our consideration of their worthiness to put in OUR que or develop their own project with their own resources. Thank you for your consideration of this opinion. As it relates to things that will effect the ability of Market Risk to do its job, please consult me as I would you. Ted
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