Finacial plan for a university mobile application PDF

FINACIAL PLAN FOR A UNIVERSITY MOBILE APPLICATION
This is a financial proposal for implementing a university mobile application, the application is
meant to integrate all the university components. In order for the application to be developed
successfully, the following must be met. The question questions that need to be answered in this
section include the following.
How much investment do you require to build this app. Provide Justification?
In order to answer the question, the proposal will be divided into several processes so as to give a
comprehensive cost analysis.
a. Preplanning and research
In this state, the university is to gather the entire requirement needed to develop the application.
In order to cut on the cost, it is best for the university to seek outside personnel to develop the
mobile application. Some of the prominent mobile developers include:
Name of the
company
Minimum cost of
a project
Average cost per
her
Willow tree
Mobile
innovation
agency
$50,000 $150 -$199 / hr.
Raizlabs right
point company
(changing the
world through
greatest
software)
$50,000 $150-$199 / hr.
Hedgehog lab
(global App
developer )
$100,000 $ 100-$149 / hr.
ZCO $10,000 $25-$49 / hr.

Considering that the development of the application may take twelve to sixteen weeks, I propose
that the university should employ services form companies that will charge an average dollar
amount of not more the $199 per hour.
Research- the university can use questionnaires to gather information on the preferences that its
students may prefer. Interviewing can also be used. This process will use local resources thus
will not cost the institution.
b. Prototyping
In this phase all the costs of designing and developing the application will be meet to by the
personnel that are deployed to develop the application (Boer, 2009). The prototypes will be
evaluated by a selected group of people who are the end users and also the board of committees
that are supervising the process.
The board must comprise of at least two system analysts who will evaluate the system. The
average pay for the analyst is $39.58 per hour, according to the U.S. Bureau of Labor Statistics.
c. Testing the mobile application
This will involve selecting a few students to give their concerns and vet the already developed
system. The process will also involve collecting feedbacks from the users. The cost evaluation of
this process is non-monetary since the implementations will be covered by the company that was
earlier deployed to carry out the development of the application.
The selected students will be from a voluntary process thus the student will not require a
payment for their services.
d. Launch of the application
After testing the application and it is fully satisfactory the product is launched to the public to be
used by the students. The launching process will need advertisement. The cost of advertisement
will be insignificant; adverts will ensure that all students can be aware of the application
(Matano, 2016).

The cost of awareness and advertising the application will be insignificant since the institution
has an information system. These may include advertising the application on the university
website and also on the notice board of the institution.
What is the annual maintenance cost for your app?
In order for the mobile application to be published on app store for the IOS application, there is
need to pay a fee of $99 which is the annual developer fee (Zimmerer and Scarboroug, 2015). It
the application is of type android, the cost of publishing it in the Google play store is $25 which
is a one-time developer fee.
In the cases where a good relation is built between the developers of the system, there is a higher
likelihood that the university will employ their services in the maintenance of the application.
The cost of maintenance is 15 % or 20 % of the total cost of original cost of development.
In this case the total development fee is:
12 x $ 100 = $ 1200 per day
Working hours are 5 days in a week thus the average pay per week is
(12 X 5) X $ 100 per hours= $ 6000 per week
If the development takes 15 weeks, the total cost of development will be=
$ 6000 X 15 = $ 90,000.
The cost of maintenance three times in a year will be=
3 (15%-20%) of $ 90,000= $ 40500 - $ 54000
Assume that you are going to cover the maintenance cost with subscription fee, suggest a
monthly subscription fee.