Partnerships for the Goals | Project Report

Partnerships for the Goals

1. Project Description
1.1 Opportunity/Problem
Financial institutions operate in a dynamic and ever changing market and in order for their
business to thrive they must attract more customers bearing in mind that their core cash
generating units are customer banking, interest charged on customer loans as well as other
banking services they offer to their customers. Over the recent past various countries have
liberalized their economies and commercial banks have been a focal point to this process
Heagney (2016). This has seen the number of commercial banks in each country rise
tremendously.
This has indeed led to the creation of cut throat competition between commercial banks as they
try to win over more customers. Recent advancements in the fields of ICT have seen more and
more banks starting to carry out their transactions online via e-business. These developments can
be partly credited with more businesses meeting their customer demands therefore helping them
remain afloat as well as curb stiff competition from rivals
1.2 Proposed Project
1.2.1 Final Output
Commercial banks have recently started adopting IT based systems when carrying out their
day to day operations. One such IT based system is the introduction of internet banking
which will revolutionize the banking sector. Internet banking has the capability of
transforming the traditional norm of customers having had to visit bank branches rather they
will be able to access banking services from the convenience of their homes and offices.

Internet banking will be main driver in the paradigm shift of how banks will alter the way they
offer their financial services in that it will reduce costs, ensure customers can access banking
facilities 24-7 as well as improve the banks efficiency in rendering banking services to their
customers.
Commercial banks therefore are starting to invest in internet banking and this project will be
expected to be complete within seven. The project is achievable with the current time frame as it
is likely to be prioritized and all other current ongoing projects to be put on hold. The banks will
also finance the project internally from their cashflows as well as obtaining funding through
borrowing. Also the team that will be given the mandate to execute the project will be
professionals who have a 100 percent success rate in executing similar projects previously.
1.2.2 Stakeholder
The project stakeholder will be as follows:-
 Bank customers
These are the core target market for this project as they are geographically dispersed and also
vary in age. Different customers have different needs and therefore commercial banks with the
help of internet banking will be able to tailor make their products to suit all the differing needs of
their customers.
 Bank Employees
The bank employee’s role is to provide guidance to the bank customers once the project is
implemented. They will be the main point of contact between the customers and the bank. The
bank employees will be geographically dispersed among the various bank branches and also will

be able to work online. By working online they will be able to sort customer’s issues on the go
without the customers necessarily having to go to the bank.
 Software Developers
Software engineers and programmers have a duty in ensuring that the project will be a success in
that it will be efficient, user friendly and also save costs to the bank bearing in mind that the
banks have put on hold all other projects so that they can implement this project first. They have
a duty of ensuring that the project is completed on time and within the allocated budget.
1.3 Strategic Alignment
Strategic Alignment Project alignment
(a) The CQ University
Strategic Intent 2019-2023
Online banking will help the university to access the
banking facilities on the go. It will enable student to clear
their fees more conveniently.
(b) Unit learning outcomes Since the students are part of the project team when
implementing the internet banking project. This project will
enable the students to put to practice the knowledge gained
in class and put it to good use.
(c) CQ University
Reconciliation Action Plan
2016-2018
The students who are having the industrial practice at the
bank has been assimilated into the project team and this will
enable the bank to harness their talents as well as build

Strategic Alignment Project alignment
meaningful and beneficial relationship with the university.
2. Stakeholders
Name Category Role and engagement
in Project
Project Impact to
stakeholder
Commercial
Bank
Sponsor Eskerod (2013)
clarified that the
management will be
approached and clearly
shown on the benefits
of the implementing
the online banking
project as well as the
proposed budget for
perusal approval. They
are the ones to give a
go ahead so that the
project can be
The project will have a
positive impact on the
management in that they
will be seen by the
shareholders to be in the
forefront of scaling the
bank to new heights
through research and
development, devising new
ways of doing business as
well cutting operational
costs for the bank.

Name Category Role and engagement
in Project
Project Impact to
stakeholder
implemented.
Project Team Other They are tasked by the
management with the
implementation of the
project and have a duty
of ensuring that it is
implemented within
the allocated budget as
well as the required
time frame according
to Eskelod (2013).
The project will impact the
project team positively in
that upon successful
completion of the project,
the management will have
complete trust and
confidence in them even to
execute and implement
more projects in future for
the bank. It will also give
the bank management the
assurance that integrating
young talent from
universities in the business
setup is a sure deal in
future.
Customers User The bank customers The project will have a

Name Category Role and engagement
in Project
Project Impact to
stakeholder
are the end users of the
internet banking
project.
positive impact on the
customers in that they will
no longer have to go to the
bank to access banking
services rather they can do
so from the convenience of
their homes or offices via
their laptops or phones
Software
Developers
Supplier They are contracted by
the bank to develop the
internet banking
infrastructure. As per
Davis (2014) they have
a duty of making sure
that the system they
develop is user friendly
as well efficient and
free from vices such as
being prone to hackers.
If they are successful the
management will have
confidence in them and
award them more projects
and therefore the project
will have a positive impact
on them.

3. High Level Schedule
I.D Activity Name Schedule
1 Planning the project Week 1 – Week 4
2 Project pilot development Week 5 – Week 8
3 Running the pilot simultaneously with the current
system
Week 9 – week 12
4 Developing the main project Week 13 – Week 16
5 Running the main project Week 17 – Week 20
6 Integrating the main project in to the bank
infrastructure
Week 21 – Week 25
4. Resources Required
According to Hans (2013) all projects must have a budget. The commercial bank budget will
be as follows:-
Resource Category Cost Funding Source

1. Habel Ozlov Human (Software
Developer)
10,000 Bank loan
2. Harbert Michael
Vorm
Human (Project
Manager)
1,000 Project budget
3. Edward Michelle Human (Project
Coordinator)
100 Project budget
4. Kevin Nobert Human (IT
Specialist)
2,000 Project budget
5. License Overheads 1000 Project budget
6. Hire of halls for
training customers
Overheads 500 Project budget
5. What I Bring to the Project

Alignment to your
personal interests
As a student, this project implementation will enable me to
harness my skills in project management as well as bring out
the passion that I have in this field of project management.
Alignment to my skills
and knowledge
Having worked previous as a project coordinator as well as
having a diploma in project management, I have the necessary
skills to be an integral member of the project team which shall
be mandated with implementing the project. Some of the key
skills will include but not limited to adhering to strict
deadlines, prioritizing duties as well as providing regular
updates.
One skill that I will be
able to demonstrate
My people’s skill will greatly be enhanced by the end of this
project implementation as I shall be dealing with different
people each with a different perception and personality, and
working with different personas will make great contributions
in enhancing my people’s skill.
Other Benefits to me
personally
If this project gets prioritized I will be able to work with one of
the industry greats, the software developer who is a guru in the
field of project management after successfully enjoying a zero
rate of stale or abandoned project spanning over two decades.
Therefore I will be able to learn from my role model as well as
an icon.

6. Ethics and Risk Management
Risk Category Lessons Learnt and
considerations for this project
Mitigation
Academic
Misconduct
(Threat)
All the students in this project are of
good morals as indicated by their
academic performance and so there
is no threat to the project.
In order to avoid this risk only
morally upright students will be
used in the project as per Elzamly
(2014).
Student stress
and anxiety
(Threat)
The pressure to deliver such a big
role will get to the students,
however with proper training and
relevant guidance the students
should be able to live up to their
expectation
This risk can be avoided through
proper guidance and effective
training in order to get the best out
of the students according to
Arnuphaptrairong (2011).
Reputation of
students and
university
(Threat)
The university has had a good
reputation of producing quality
graduates and under this project it
shall be no exception.
This threat will be mitigated by the
student themselves observing their
core values of integrity and
commitment to the task at hand as
per Palm and Lindahl (2015).
Reputation of
students and
The project presents the university
with a rare opportunity of finding
The students will deliver as required
and by doing so uphold the status of

Risk Category Lessons Learnt and
considerations for this project
Mitigation
university
(Opportunity)
out whether what they teach the
students in class is practical in the
field of work.
their learning institution as one of
the best in the whole country
according to Teller and Gemünden
(2014).
Non research
project
I confirm that this project will NOT require the collection of
data from humans for the purposes of research.
YES
Not related to
Homelessness
I confirm that this project is NOT related to the previous
theme of ‘Homelessness’
YES
References
Arnuphaptrairong, T. (2011, March). Top ten lists of software project risks: Evidence from
the literature survey. In Proceedings of the International Multi Conference of
Engineers and Computer Scientists (Vol. 1, pp. 1-6).

Davis, K. (2014). Different stakeholder groups and their perceptions of project
success. International journal of project management, 32(2), 189-201.
Elzamly, A., & Hussin, B. (2014). Managing software project risks (analysis phase) with
proposed fuzzy regression analysis modelling techniques with fuzzy
concepts. Journal of computing and information technology, 22(2), 131-144.
Eskerod, P., & Jepsen, A. L. (2013). Project stakeholder management. Gower Publishing,
Ltd.
Hans, R. T. (2013). Work breakdown structure: A tool for software project scope
verification. ArXiv preprint arXiv:1308.2876.
Heagney, J. (2016). Fundamentals of project management. Amacom.
Palm, K., & Lindahl, M. (2015). A project as a workplace: Observations from project
managers in four R&D and project-intensive companies. International Journal of
Project Management, 33(4), 828-838.
Teller, J., Kock, A., & Gemünden, H. G. (2014). Risk management in project portfolios is
more than managing project risks: A contingency perspective on risk management.
Project Management Journal, 45(4), 67-80.