Implement Online Investment Portfolio

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Implement Online Investment Portfolio

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Implement Online Investment Portfolio

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Question:
Discuss about the Implement Online Investment Portfolio Project.

Answer:

Document Purpose
The purpose of the report is to implement Online Investment Portfolio project. The motto of Cornerstone Securities is to provide a secure and easy to use the online system to the citizens of Australia, New Zealand and South Pacific islands. The online system offers several functionalities like wealth creation, incorporate customer service components and financial investment products.
Project Background
A project manager has been appointed for the Online Investment Portfolio project. The main aim of the Online Investment Portfolio project is to offer secured and easy online platform. The customers can carry out secure financial transactions on this online platform. The project manager will implement the project for the citizens of the Australia, New Zealand and South Pacific islands. The board, as well as the senior executives, have full support for the project. Ms Grace Bruce, Chief Operating Officer of Cornerstone Securities, has agreed to be the sponsor of the project.

Project Objectives

To implement a secure and easy to use online platform where the citizens of Australia, New Zealand and South Pacific islands can carry out the financial activities
To implement the project within 11 months
To complete the project with a scheduled The project should not be over budget.
To provide financial investment products as well as the wealth creation via Online Investment Portfolio project
To satisfy customers and retain customers

Project Value Statement
The project has been conducted to secure the future of Cornerstone Securities. Initially they were a small investment company; however, later on, they shift to financial planning activities and the wealth creation markets. They start conducting e-business activities as well. They grow popular in recent times and their market share increases. The customer base also gets increased. However, their system is not efficient enough to handle large financial transactions and a large volume of customers’ details. Their system fails miserably. For this reason, it is very important to initiate Online Investment Portfolio project. The project will provide safe and secured service. The software will be capable of handling a large amount of data. The customers will get fast, effective and reliable service.

Project Plan

Task Name

Duration

Start

Finish

Predecessors

Online Investment Portfolio project

57 wks

Mon 16/04/18

Fri 17/05/19

Database Set Up

10 wks

Mon 16/04/18

Fri 22/06/18

Purchasing Database

2 wks

Mon 16/04/18

Fri 27/04/18

Installation and Configuration of Database

2 wks

Mon 30/04/18

Fri 11/05/18

Installation of Software

2 wks

Mon 14/05/18

Fri 25/05/18

Appointing IT Trainer

1 wk

Mon 28/05/18

Fri 01/06/18

Software Configuration Training

3 wks

Mon 04/06/18

Fri 22/06/18

Hardware Set Up

6 wks

Mon 25/06/18

Fri 03/08/18

Purchasing Hardware

2 wks

Mon 25/06/18

Fri 06/07/18

Installation of Hardware

4 wks

Mon 09/07/18

Fri 03/08/18

Network Infrastructure Set Up

6 wks

Mon 06/08/18

Fri 14/09/18

Purchasing Networking Components

2 wks

Mon 06/08/18

Fri 17/08/18

Implementation of Networking Components

4 wks

Mon 20/08/18

Fri 14/09/18

Security Components Set Up

13 wks

Mon 17/09/18

Fri 14/12/18

Purchasing Security Components

2 wks

Mon 17/09/18

Fri 28/09/18

Implementation of Security Components

4 wks

Mon 01/10/18

Fri 26/10/18

Pilot System Set Up

4 wks

Mon 29/10/18

Fri 23/11/18

Data Migration

3 wks

Mon 26/11/18

Fri 14/12/18

Customer Service Module

14 wks

Mon 17/12/18

Fri 22/03/19

Purchasing Customer Service Module

3 wks

Mon 17/12/18

Fri 04/01/19

Implementing Customer Service Module

4 wks

Mon 07/01/19

Fri 01/02/19

Setting Up Operational Support Needs

4 wks

Mon 04/02/19

Fri 01/03/19

Contingency

3 wks

Mon 04/03/19

Fri 22/03/19

Project Closure

8 wks

Mon 25/03/19

Fri 17/05/19

Project Handover to Sponsor

3 wks

Mon 25/03/19

Fri 12/04/19

Sponsor’s Agreement

3 wks

Mon 15/04/19

Fri 03/05/19

Preparing Documentation

2 wks

Mon 06/05/19

Fri 17/05/19

Resource Release

1 wk

Mon 06/05/19

Fri 10/05/19

Project Stakeholders

Resource Name

Type

Max. Units

Std. Rate

Project Manager

Work

100%

$25.00/hr

Business Analyst

Work

300%

$22.00/hr

Hardware Engineer

Work

300%

$20.00/hr

Network Engineer

Work

300%

$20.00/hr

Security Specialist

Work

200%

$20.00/hr

IT Trainer

Work

100%

$18.00/hr

Project Constraints
Project Time, Project Budget and Project Scope are the three constraints of the project. The project will take 57 weeks that is around 13 months. The budget of the project has been scheduled to $A 5 million. The project is bound to complete within the scheduled time and budget. Extra time and extra budget are out of scope for this project. The stakeholders will have to follow the project policies strictly.
Project Scope
The pilot version of Online Investment Portfolio System will have to be created, tested and evaluated at the end. The system must be capable enough to manage 6 million customers’ data. The Online Investment Portfolio System must be capable of providing excellent customer service; it must check the customers’ complaints by 75% within a 1st year of implementation and 99% by the 2nd year of implementation.

Three level Work Breakdown Structure (WBS)

WBS

Task Name

Duration

Start

Finish

Online Investment Portfolio project

57 wks

Mon 16/04/18

Fri 17/05/19

1.1

Database Set Up

10 wks

Mon 16/04/18

Fri 22/06/18

1.2

Hardware Set Up

6 wks

Mon 25/06/18

Fri 03/08/18

1.3

Network Infrastructure Set Up

6 wks

Mon 06/08/18

Fri 14/09/18

1.4

Security Components Set Up

13 wks

Mon 17/09/18

Fri 14/12/18

1.5

Customer Service Module

14 wks

Mon 17/12/18

Fri 22/03/19

1.6

Project Closure

8 wks

Mon 25/03/19

Fri 17/05/19

Table 1: Work breakdown structure
Project success criteria
The Online Investment Portfolio System must provide all the latest Wealth Creation as well as Financial Investment products. The customer service module must be compliance with the Online Investment Portfolio System. It should work for 24×7 and should provide excellent customer service. The system must be secured enough so that the customers can carry out financial transactions. The system must be user-friendly, only then the project will be considered successful.
Recommendation(s) and Approvals
The management staff of Cornerstone securities must listen to the staff and should appropriate actions so that the workforce can work as a unit and work effectively. They must focus on training. The workforce must be provided with appropriate training so that they can use the Online Investment Portfolio system. The software will take the relatively high cost. However, they will have to accept it as the system will give them long-term benefits. They must give priority to the customers’ feedbacks and complaints. They must work hard to fulfil the demands of the customers. Due to the satisfaction of the customers, they can lose the customer base and suffer a huge loss.
The IT Support team will replace the age-old hardware and software system with the new ones. Cornerstone Securities must approve this change for the betterment of the company. Also, they should appoint an IT trainer who will train the employees to use the Online Investment Portfolio System effectively.

References
Caniëls, M.C. and Bakens, R.J., 2015. Project Management Information Systems in a Multi-Project Environment. In Handbook on Project Management and Scheduling Vol. 2 (pp. 1355-1383). Springer, Cham.
Joosten, D., Basten, D. and Mellis, W., 2016. Measurement of information system project success in German organizations. In Project Management: Concepts, Methodologies, Tools, and Applications (pp. 1175-1196). IGI Global.
Kostalova, J., Tetrevova, L. and Svedik, J., 2015. Support of project management methods by project management information system. Procedia-Social and Behavioral Sciences, 210, pp.96-104.
Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education India.
Ptak, C.A. and Schragenheim, E., 2016. ERP: tools, techniques, and applications for integrating the supply chain. Crc Press.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Sligo, J., Gauld, R., Roberts, V. and Villa, L., 2017. A literature review for large-scale health information system project planning, implementation and evaluation. International journal of medical informatics, 97, pp.86-97.
Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.

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