---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/31/2000 
02:55 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






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From: "Vince J Kaminski" <vkamins@ect.enron.com>
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Date: Fri, 28 Jan 2000 16:33:56 -0600
Subject: Credit Applicatiions in GRMS
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---------------------- 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