Information Management System | Project

Added on -2020-02-14

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IntroductionIn this project, we will be developing a new Information managementsystem which will have all the upgraded tools and techniques to managethe information flow. The new management system will flow in such a waythat it can be accessed by any member of the team and the informationwill be gathered. Information technology is something which should beused very professionally in business. Bank should use informationtechnology in a very professional way and should ensure that onlybusiness information is shared. Ethical issues for safety and security ofinformation technology are social networking wherein people sharepersonal and professional information, cyber bulling which includesinteraction of other technologies like text messaging, this can be doneanywhere, anytime and at anyplace. Legal implication that will beassociated with the new information system is the “Fair Use” law which isa doctrine, this is a copyright law which allows limited use of copyrightedmaterial. The new information system will also give the right to thecreator to display, reproduce and distribute his/her work and perform it ina better way (Stark, 2015).Retailer ManagerThe planning and controlling of the IT project should be done in a smartway. The project management team will do the planning. The elements ofplanning will include Products, Activities, Resources, Schedule, Budget,Risk, Assumption. The IT project development will take some time. Whenthe project is in process the data that is been used should be stored on atemporary platform or on the old system. Once the new informationsystem is in place the data can be then transferred to the new system. Products: - This will define the basic product that will be developedfor the bank.Activities: - Activities will include the activities that will take placeduring the development of the project.Resources: - Resources will involve all the people and engineers whowill be involved in the project development.Schedule: - the time defined for each step/stage of projectdevelopment will be define in schedule.Budget: - the Budget that is require to make the project successful.Risk: - the Risk that will be involved during project development,which might involve some part of data lose and data inefficiency.Assumptions: - Assumptions about how the management systemwill look after the project is developed will be informed to the CEOand the finance manager of the bank.
Investment ManagerThe major problem in the current information system is it is notreliable and the CEO has not confidence in the current system. Our mainmotive in developing a new information technology system is to make asystem which will gain confidence in the minds of the CEO and the financedirector. It is important that the top managers are confident in theirsystem and can store information without and hassle and confusion. Thedata should also be secured and private and should not allow theinformation to leak outside the bank (Alexander, 2013). The new systemshould also be accessible and convenient to other team members viz. theretail managers and the investment managers. These managers can thenflow the data to their teams who deals with retail banking, mortgages,shares, savings, currency, loans etc. The system will store the bank information on one platform a givelimited access to those who require minimum information to process theirrequest. The best approach to make the system better is to entirelychange the working and storage of the information system by using thelatest and upgraded technologies and will be commercially feasible for thebank investment. Decision making process plays an important role infunctioning of the bank. This includes 5 steps viz. Presentation of the staff,Briefing, Final policy, Deliberation, decision, Publication, andCommunication.IT ManagerThe essential tools and techniques of IT project management are therisk management strategies, budgeting process, gantt charts, Critical pathanalysis, Project Evaluation and Review techniques, Network Diagram,and the Resource Histograms.Risk management strategiesThese are the strategies which identify the risks that can occur inthe information systems. These risks are then ranked andprioritized. They are then assigned to their respective managers toresolve them (Kerzner, 2013)Budgeting processThis process includes planning and budgeting the informationsystem. Which includes preparing reports, delegatingresponsibilities etc. Gantt ChartsGantt Charts is preparing to make a work flow for a specific project.The steps include design, integration, testing, go live and training.Critical path analysis

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