Project Management: Cornerstone Securities Online Investment

This document is a project charter for Cornerstone Securities' "Online Investment Portfolio" project, outlining the project's purpose, background, objectives, and value statement. It identifies key stakeholders, constraints, and the project's scope, which includes implementing a secure online system capable of managing 6 million customers within 11 months and a $5 million budget. The charter also presents a work breakdown structure, project success criteria based on timely completion, and recommendations for approvals and risk mitigation. The goal is to provide improved online services to customers, enhance satisfaction, and increase market share.

32541 Project Management – Assignment 1
Due: 6.00pm, 16th April 2018
Cornerstone Securities
“Online Investment Portfolio”
Project Charter
Submitted By:
[Student Id]
[Student Name]
[Class – Tuesday or Friday (please indicate your class]
© Alan Sixsmith 2018

Table of Contents
1. DOCUMENT PURPOSE___________________________________________3
2. PROJECT BACKGROUND_________________________________________3
3. PROJECT OBJECTIVES___________________________________________3
4. PROJECT VALUE STATEMENT____________________________________3
5. PROJECT STAKEHOLDERS_______________________________________4
6. CONSTRAINTS__________________________________________________4
7. IN SCOPE_______________________________________________________4
8. WORK BREAKDOWN STRUCTURE________________________________5
9. PROJECT SUCCESS CRITERIA____________________________________5
10. RECOMMENDATION(S) AND APPROVALS______________________5
BIBLIOGRAPHY______________________________________________________6
© Alan Sixsmith 2018

1. Document Purpose
The main purpose of the project charter is to provide an overview about the
implementation of an online system within an organization “Cornerstone
Securities” in order to provide proper as well as secure online services to the
customers of the company. The new system will be helpful in resolving the issues
of the organization and therefore the project is generally supported by number of
improved business practices as well as processes that generally resides on secure
hardware architecture and network platform. The documents mainly highlights the
objectives as well as value statement of the project. In addition to this, proper
recommendations are provided in context to project approvals.
2. Project Background
The organization Cornerstone mainly operates in the sector of financial
services. However, during 2013 to 2017, the company move to provide e-business
services to the individual investors. This generally helps in putting unexpected load
on the IT infrastructure of the organization for handling large number of customers
as well as transactions. Due to this the company is receiving number of
complainants from the customers about improper online services. Therefore in
context to online investment portfolio project perspective, the organization wants
to deliver a secure as well as proper online service by implementing an effective
online system.
3. Project Objectives
The objectives of the project are as follows:
 To deliver an easy way to use online system
 To provide proper customer service through improved practices as well
as processes
 To enhance the customer satisfaction as well as retention
 To increase market share in Australia, South Pacific region and in New
Zealand
 To achieve substantial operational cost savings as well as staff
productivity
4. Project Value Statement
The value statement of the project are as follows:
Be Measurable: The success of the project can be measured with the help of the time
that is needed in order to complete the project. If the time that is needed is as per the
assumption that is made during the initial stages of the project then the project will be
considered as successful.
Provide value: The implementation of new system within the organization
“Cornerstone Securities” will be helpful in delivering a secure as well as proper
online service to the customers.
Be able to be agreed on: The board as well as other executives agrees on the project
and thus provides their full support for completing the project within the estimated
budget and time.
Be Verifiable at some point in time after the project is completed: With the help of
the project timeframe, the project is verifiable after its completion.
5. Project Stakeholders
The stakeholders who are involved in the project are listed in the table below:
© Alan Sixsmith 2018

Name Position Contact details
Jim Morris Project manager [e-mail]
Wen Bruce Business analyst [e-mail]
Sen Watson Hardware and Network
engineer
[e-mail]
Jack Brown Business analyst [e-mail]
John Smith Hardware and Network
engineer
[e-mail]
Waylon Dalton Business analyst [e-mail]
Marcus Cruz Hardware and Network
engineer
[e-mail]
Angela walker Security specialist [e-mail]
Thalia Cobb Security specialist [e-mail]
6. Constraints
The constraints of the project are as follows:
Budget: The project must be completed within the budget of $ 5 million. If
the project manager are unable to complete the project within the estimated
budget then they will face number of financial issues during project progress.
Time: It is quite necessary to complete the project within 11 months. If the
project is not completed within the assumed time then the budget of the project
will increase that further cause number of issues.
Scope: It is necessary to follow the scope of the project in order to complete
the entire project within the estimated budget and time.
7. In Scope
The scope of the project includes:
 To implement an online system that will helpful in providing proper
online services to the customers
 The system must be able to manage 6 million customers
 The implementation of online investment system must be completed
within 11 months within the budget of around $5 million.
© Alan Sixsmith 2018

8. Work Breakdown Structure
Online Investment
Portfolio Project
Project planning phase
New processes as
well as practices will
be determined
Development of
project proposal
Getting approval for
the project
Indentification of
project stakeholders
Approval of project
plan
Web application design
Gathering ideas for
initial stage
Audit of current
hardware and
network
infrsatructure must
be created
IT architechtural
plan will be
developed
Security solutions for
new hardware and
network infrastructure
will be purchased
Pilot version of new
online investment
portfolio system
Undertaking meeting
for project kick-off
Approval for final
design
Coding
Prototype
consustruction
Development of
database
Validation of code
Cross-browser
testing
Optimization
Migration of data
User experience
Improving customer
service
Updating project
details
Presentation display
for program
Project requirement
Accessing web
application
Estimation of
software as well as
hardware needs
Review and testing
Operational support
Project closure phase
Assesment of risk
Quality management
Final review
Figure 1: WBS
(Source: Created by Author)
9. Project Success Criteria
The success of the project can be measured by the time that is needed in
order to complete the project. If the project is completed successfully within 11
months as per the assumption then the project is considered successful. However,
due to schedule slippage, if the timeframe of the project extends, then it will be
quite difficult to complete the project on the assumed time. Thus, it is identified
that timeframe of the project is one of the most prior objective before the project
managers in order to achieve success.
10. Recommendation(s) and Approvals
The recommendations of the project as follows:
Approval: The project must get approval from the board as well as from
other executive managers after the creation of the proposal.
Project charter: The risks as well as challenges associated with the
project must be considered while progressing with the project so that if any
challenges occur, it can be easily mitigated
© Alan Sixsmith 2018

Bibliography
Heldman, K., 2018. PMP: project management professional exam study guide. John
Wiley & Sons.
Hornstein, H.A., 2015. The integration of project management and organizational
change management is now a necessity. International Journal of Project
Management, 33(2), pp.291-298.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to
planning, scheduling, and controlling. John Wiley & Sons.
Snyder, C.S., 2014. A guide to the project management body of knowledge: PMBOK
(®) guide. Project Management Institute: Newtown Square, PA, USA.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured
literature review with a critical look at the brave new world. International Journal of
Project Management, 33(2), pp.278-290.
© Alan Sixsmith 2018