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Developing a customised finance application

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Developing a customised finance application

2.0 Introduction

 “A project is complete when it star ts working for you, rather than you working for it.”(Scott Allen). The project clearly explains the name of the project which is a positive aspect but it doesn’t say much of the feed franchise and the layout. The description of the project gives a clear statement objective of the project which very much useful for the sponsor so that he can what is the project is all about. The sponsors detail is provided in the project which is very essential to the project. The sponsor has to know who has been appointed as a team for this project where the sponsor has to be informed about the team member’s details which are done in the project

This is a positive thing in the project. Each team member’s details like phone number and email address is provided to contact which is very useful. The deliverables and the documentation of the project are explained in detail which gives a clear understanding of the project. The Reference details has been left out or omitted in the project which is a negative aspect of the project. The project should have references where the material was taken or cited from which gains knowledge in order for preparing the project. The phase review of each stage is completed at each stage and asked for acceptance for the project which is omitted in the project which is not a good thing in the project. However this list would be more helpful if it contained a greater number of references.

Project manager and team details:

The Project Management Plan (PMP) outlines the project. Project team members are responsible for documentations, which show team has worked on PMP. Through out the development cycle all team members of the project are responsible for updating and maintaining the Plan. At weekly team meetings will be discussed about the various issue and motivate the group by participating in the problem solving. If there is necessary to make changes in the plan then it is done.

Project Deliverable

Project Management Deliverable

The major project deliverables for the project include:

Project Management Deliverables

A completed PMP document A Gantt Chart

A completed and signed-off Design document A completed and signed-off Test plan document Test reports

A presentation to key stakeholders A working prototype(s)

A project customises finance application containing all documents and information relating to the project for team and client to view.

Application Deliverables

Completed Customized finance application

 

application because the application is planned to be built in stages. Building the application in stages allows testing during each stage to find bugs early and also allows the client to approve the prototype and allows the developers to implement changes early and more efficiently then waiting till the application is finished.

 

Design: This is a design phase where the planning of the prototype is done and the design of the

prototype is defined...

Implement: After the design phase, the implement phase where the

applications coding is done for the prototype and implemented. Testing: This phase is where prototype is checked whether it is working properly or not and check for any bugs in the application

References

Schwalbe. K. (2004). Information Technology Project Management. (3rd Ed.). Canada: Thomson

Project Smart. (2008). Project Management Success with Top 7 Best Practices, viewed

April15th, 2008, from

http://www.projectsmart.co.uk/project_management_success.html

Method123. (2003). Project Management Life Cycle Methodology, viewed April 15, 2008, from

http://www.method123.com/project-lifecycle.php

Berkun, Scott (2005). Art of Project Management. Cambridge, MA: O'Reilly Media. Brooks, Fred (1995). The Mythical Man-Month, 20th Anniversary Edition, Adison Wesley. I

Comninos D &, Frigenti E (2002). The Practice of Project Management - a guide to the business-focused approach. Kogan Page.

Heerkens, Gary (2001). Project Management (The Briefcase Book Series). McGraw-Hill. Kerzner, Harold (2003). Project Management: A Systems Approach to Planning, Scheduling, and Controlling, 8th Ed., Wiley.

Lewis, James (2002). Fundamentals of Project Management, 2nd ed., American Management Association.

 

 

3.0 Organisational

Internal Organisation

 

Role Definitions Project Sponsor

A role of a Project Sponsor is to offer strategic business leadership and directions. Some of the roles of a project sponsor are approve changes in scope, approve budget variance and remove project barriers.

Project Manager

A role of the Project Manager is to determine and implement exact needs of the client. Some of the roles of a project management team management, communication, decision making. The project manager is responsible for reducing risk significantly, ensuring that every significant participant has an opportunity to express opinions and concerns.

Business Analyst

The role of the Business Analyst is to analyze the needs of the client and stakeholder and provide solutions. Some of the roles are to find out the risks and business case for the project.

System Analyst

A role of System Analyst is designing computer information systems; identify the system requirements, modifying systems to improve the work flow or expanding systems for new purpose. 

Developer/ Programmer

The role of the programmer is to create and manage the program code. Some of the roles of the programmer are to create prototypes and to implement the design of the designer and test the prototypes and the final product.

Research Specialist

The role of the Research Specialist is to research product relevant with the project. The team are assigned to do research on similar product designed by the competitors and collect the results to create a product to suit the customer needs.

Tester

The role of the tester is to test the program ensure that the program is working as expected and make appropriate changes and recheck the program until it produces correct results.

Documenter

The role of the Documenter is to create documentation process of the entire project. Documenter checks the integrity of the documents before the sign off. Some of the roles of the documenter is status reports, build document, design document, test document and ensures the standards required for the project.

Marketing Specialist

The role of the Marketing Specialist is to create innovative ways to advertise the products. To create an advertise campaigns for the project.

Purchasing Specialist

The role of the Purchasing Specialist is to research and purchase the required equipments within the budget for the project. The purchasing specialist is also responsible for the delivery of the product.

Consultant

The role of the Consultant is to provide expertise to the project team. The consultant also provides new experiences and techniques.


4.0 Management and Technical Process

Management Objectives and Priorities

Each project team member has their own roles and responsibility and the manager’s role is to manage the objectives and priorities of the team. Each member of the project team has been assigned roles and the project manager should have an overall understanding on how the project will operate. The project team will work solely on this project, if more personal are required to meet the project deadline, Ms. Carren Gerden will interview available personal and select the most suitable candidate for the roles available. All the team members have to achieve their goals and objective for the project.

Assumptions, Dependencies and Constraints

It is assumed the application will be need coding from various other software’s

It is assumed that the client will provide an adequate connection to the internet at the installation premises once the implementation phase is reached and suitable testing have been performed. 

It is assumed that the client will supply and be responsible for physical maintenance of a desktop computer to act as an application/ database server for the solution once the implementation phase of the project is reached.

Project Team members will be committed 10 hours per week for 7 weeks of the project which equates to 70 hours over the entire duration of the project

Project has a number of dependencies such as the SRS document cannot start until the completion of the PMP document.

The tests documents cannot start until the prototype has commenced. The application cannot be delivered to the client until it is completed.

The project has to be completed within 4 months and should come in under the budget of $180,000. If the project faces a risk that could jeopardize the deadline of 10months. 

Risk Management

Throughout the project, procedures will need to be followed in relation to risk management. If a new threat to the project arises, the team member is required to follow these procedures. As this document is a ‘live’ document,


it is important that the process below is followed so that this document can remain up-to-date.

Risk Management Procedures

In the event of a member discovering a new threat they must notify the PM with the following details

Risk Description

A description of the risk explaining how it is a risk to the project.

Probability (High/Medium/Low)

An estimation of the chance of this risk occurring.

High – This constitutes that the risk identified is very likely to happen and it should be tracked very carefully

Medium – Constitutes that the risk has an average chance of occurring and it should be tracked if suspicions are aroused.

Low – Means that the risk is unlikely to happen but nevertheless it must be identified and watched for.

Damage (High/Medium/Low

Risk Recponse

1.    Standard Application that are bring used. The Application used is compatible so there won’t any problem occurring at this area. If problems did occur then we have to choose other similar technologies.

2.    Feasibility of the Project

The project feasibility should be positive.

3.    Availability of the resources at the proper time.

Most of the resources like software are readily available in the market and free to download. On the other hand supplier of the hardware has to be sought upon the quality of the product and detail specifications of the product from various suppliers to keep the option open.

 

4.    Will  the  application  for  a  period  of  time

without any major modification or Upgradation.

 Application is created with using latest technologies however the I.T keeps blooming , if there is any changes need to be made or Upgradation it can be done in the future.

 

5.    Affordability of the project.

The forecasting of the product shows positive signs so it is affordable for the prospective.

 

6.    Usage of Financial resources

Ongoing of the project will take some resources from each of the departments to complete the project efficiently.

Risk Register

Risk register identifies the risk at the beginning and during the life of the project, their grading in terms of likelihood of occurring and seriousness of impact on the project, initial plans for mitigating each high level risk, and subsequent results.

It usually includes:

Unique identifier for each risk Description of each risk and how it will affect the project Assessment of the likelihood it will occur and the possible seriousness/impact if it does occur (low, medium, high)Grading of each risk according to a risk assessment table Responsibility of managing the risk

An outline of proposed mitigation actions (preventative and contingency).

Risk Identification

Risk register

Recommended actions for grades of risk 

Grade    Risk actions

 

A           Actions to reduce the likelihood and seriousness to be identified and implemented as soon as the project commences.

 

B           Actions to reduce the likelihood and seriousness to be identified and appropriate actions implemented during project execution.

 

C           Actions to reduce the likelihood and seriousness to be identified and costed for possible action if funds permit.

 

D           No action is needed unless grading increases over time.

 

E           No action is needed unless grading increases over time.

Project Reports

In the Project report, each have there assigned role and responsibility which each they have to prepare each week to what is the current status of the project. It has to be submitted every Monday 4.30 p.m. The status report has to be either handed over to the project manager or contact via email to send in the status report. The report will include name, role and current job, any issues they are facing and the percentage of work has been done...

Technical Process

Methods

The project will be using the prototype approach will be used for developing the application.

Tools and Techniques Document Management Microsoft Word XP will be used for all documentation creation.

Project Development

In design phase of the project we will be using Microsoft Project to create the Gantt charts. CASE diagrams will be created using Enterprise Architect. We will also use security software to create a secure subscription service for the user. The CASE Tools required for the project are Use-Case diagrams, Sequence diagrams and Class Diagrams.

Communications:-

It is a set of channels which will be used to communications between the team and the project manager. The project team will meet every Monday at 3.30 p.m. In the Monday meeting the will be set the schedule of the week and the deliverables and the requirements that have to be met during the week. If any problem arises the team will discuss about the issue and the project manager decides how the project should be progressed.

Project Success Criteria: - Our objective is to complete the application within the duration which is 10 months for no more than $ 180,000. The project provide various purpose like payroll, debtors, creditors, BAS calculation,bank reconciliation, stock control, reports etc… We must also develop a method for capturing the benefits in the application being developed, tested, and altered. Even if the projects take little more in cost and time the project still will be success as it helps out various developers do coding. It will benefit the organization Schedule 6.1 Work Packages For more information relating to work packages refer to 3.2 Resource Requirement 

In this Customized Finance Application there are 11 roles which have to be equally delegated to each member of the team. Each member is requested to have a desktop computer, a laptop for demonstration of the prototype. Each laptop should have Microsoft Office for documentation, IDE and Microsoft Project for creating a work breakdown structure and Gantt chart.

Deliverables

 

45.         Create Project Management Plan

 

46.         Scope Statement

 

47.         Work Breakdown Structure

 

48.         Implementation

 

49.         Testing

 

50.         Develop a Test Plan

 

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