Project Charter: Online Investment Portfolio at Cornerstone Securities

This document presents a project charter for Cornerstone Securities' "Online Investment Portfolio" project. The project aims to develop an innovative online platform to enhance financial services, increase customer satisfaction, minimize operational costs, improve staff productivity, and expand market share in Australia, South Pacific Island, and New Zealand. The charter outlines the project's objectives, value statement, key stakeholders, constraints, scope, work breakdown structure, and success criteria. It emphasizes the importance of meeting business, technical, and software requirements, as well as securing stakeholder agreement and adhering to the project timeline. The project seeks to provide 24-hour online facilities, secure customer data, and integrate feedback mechanisms to improve service delivery. Recommendations and approvals from project stakeholders are included to ensure alignment and commitment.

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________________________________________5
6. CONSTRAINTS___________________________________________________7
7. IN SCOPE________________________________________________________9
8. WORK BREAKDOWN STRUCTURE________________________________10
9. PROJECT SUCCESS CRITERIA____________________________________11
10. RECOMMENDATION(S) AND APPROVALS_______________________11
© Alan Sixsmith 2018

1. Document Purpose
The purpose of this project is to develop an online investment portfolio for the
cornerstone securities. The project should be designed and implemented at the end of
March 2019.
2. Project Background
The cornerstone security is the company which deals with financial services from
2008. In 2011, the company expanded its financial services in Australia, South Pacific
Island, and New Zealand. 3 million happy customers get bonded with the organization
at the end of year 2017. The company decided to transform their business operation
with the online service providers on the raising demand of the customers. It is required
to develop an innovative online investment portfolio for the company to provide
quality of financial services to their bonded or new customers.
3. Project Objectives
The new innovative online investment portfolio should be capable of:
 Providing better financial services to the customers
 Increasing the satisfaction level of the customers by providing quality financial
product according to the requirement raised by them
 Minimizing operational cost invested by the company in giving best services
and product
 Increasing the productivity level of the staff members
 Providing instant financial services and data
 Increasing the efficiency of financial management operational processes of the
enterprise
 Expanding the market share of the cornerstone security in Australia, South
pacific Island, and New Zealand
4. Project Value Statement
 Measurable
The efficiency of the proposed project can be measured on fulfilling all the business
technical, and software requirement of the company which are stated in the table
below:
© Alan Sixsmith 2018

Business Requirement Technical Requirement Software Requirement
Determining the new
policies and processes for
the business plan of the
company
The old hardware and
software techniques should
be replaced by new ones.
The software should be
capable of establishing
functional demand of the
business analysts
Developing a functional
system which satisfy the
operational functionality of
the customers and
employees
New IT infrastructure
support to the application
Functional Modules for
satisfying customers
requirement
Information regarding
financial services should
be updated periodically
The pilot testing and
evaluation of the working
efficiency of the proposed
system
The experience of the
customers can be
improved by indulging
meeting with Subject
Matter Expert
Providing security to the
confidential information of
the customers
Development of the
customer database. Backup
support should also be
developed to restore the
data at the time of disaster
or crashing of memory
Flexibility in the software
for adding new features to
the existing application
according to the business
requirement
The information regarding
the financial product,
services, and wealth
creation should be
provided to the customers
instantaneously
The database has the
capability to store the data
of 6 million customers.
Inclusion of graphic icons
for supporting easy
interaction with customers
Developing a feedback
system for the customers
to put their suggestion and
compliments
The data should be stored
on online investment
portfolio system
Providing efficient
financial services and
product to the customers
24 hours service facility to
the customers
The system is capable of
reducing the 75% of
customers complaint.
Graphical icons should be
used for managing
interaction between
application and the
© Alan Sixsmith 2018

customers.
Graphical icons should be
used for managing
interaction between
application and the
customers.
99% of the operation can
be improved
Determining the network
infrastructure
 Value
The value of the project can be measured on satisfying the business requirement,
technical requirement, and software requirement according to the increasing demand of
the employees and the customers (Kumar and Anbouli, 2013). The experience of the
customers can be improved by getting advice from the subject matter expert on their
investment.
 Agreed on
The staff members and project manager should agree on the proposal of the
information system for the online investment portal of the company which is capable
of satisfying the operational and technical feasibility (Adoluju, Olowokudejo, and
Obalola, 2014).
 Verification of the time frame
The proposed project should be completed and come into execution before the March ,
2019. The on-time delivery of the project helps in increasing the functional
requirement of the enterprise (Passenheim, 2014).
5. Project Stakeholders
Role Name Responsibilities
Project Owner K.R. Thomson He is responsible for
placing the demand of
developing the online
project for the business
requirement
Project Manager W. T. Williams He is responsible for
generating a portfolio
© Alan Sixsmith 2018

mentioning the business,
technical, and software
requirement of the project
Project Sponsor W.M. Rose She is responsible for
providing efficient funding
of the proposed project to
complete it within the time
limit
Designer T. Liang He is responsible for
developing a software
which is capable of
satisfying all the business,
technical, and software
requirement of the project
IT operation head S. T. Radhaswami He will work on testing the
efficiency of the proposed
project by planning the
pilot testing for the
software application
Subject Matter Expert R.D. Burman He is responsible for
managing healthy
relationship with the
customers by providing
online guidance for
investment. The new
proposal should be
provided to the customers
for making investment in
the organization.
Financial Manager D. Browne He is responsible for
developing new policies
and framework to provide
good quality financial
services to the customers
Wealth creation manager R. George He works on developing
© Alan Sixsmith 2018

the financial product and
policies which helps in
generating revenues for the
company to provide
sustainability for the
enterprise
Marketing and sales
officer
W. Zhang The core responsibility of
the marketing and sales
officer is to conduct
awareness program and
campaign for the
customers. In the world of
digitization, development
of social media platform
and support is an important
tool of conducting
marketing plan and
advertisement for guiding
customers to invest in the
Cornerstone Security
Company.
6. Constraints
 Dissatisfaction of the employees with the proposed project: The employees are
not willing to change their traditional working platform with the online
application (Morris, 2013)
 The employees does not have capability to work on E-commerce website of the
enterprise
 Insufficient funding for the proposed project
 Changing requirement of the customers (Halls, 2012)
 Completion of the project within the proposed time limit
© Alan Sixsmith 2018

© Alan Sixsmith 2018

7. In Scope
The financial services and products which are provided by the company to their
customers in order to raise their interest and satisfaction which helps in the prosperity
of the company are highlighted below:
 Protection cost provided to the customer on the Overdraft policies
 Services of refund application loan for refunding the tax paid by the payer on
his hard earnings
 Collection of Debts from the industries
 Services and function provided to modify the mortgage loan
 Facility of colleting cash
 Services related to the settlement of Debts (Carcano, Suarez, and Ibarra, 2015)
 Providing facilities of car loan and house loan
 Facilities of providing short term loans to their customer
 Facilities of providing long term loans to the customers
 Providing loans for business operations
© Alan Sixsmith 2018

8. Work Breakdown Structure
© Alan Sixsmith 2018
Project Proposal on Online Investment Portfolio
for Cornerstone Security Company
Project
initialization
phase
Requirement
phase
Design phase Testing phase Implementati
on phase
Survey of
Cornerstone
Company
Analysing
inefficiency
of handling
financial
task
Feedback of
the customer
placed
Requirement
of the
customers
Availability
of funds
Developmen
t of
requirement
specification
plan
Developmen
t of timeline
schedule of
activities
Developmen
t of risks
identification
and
mitigation
strategies
Designing of
the
functional
module of
the proposed
project
Designing of
the financial
services and
products
provided to
the
customers
Designing of
the test plan
to check
efficiency of
the
information
system
Deploying
pilot testing
of the project
Implementati
on of the
project
within the
proposed
timeline
Documentati
on of the
project for
future
improvement

9. Project Success Criteria
The success criteria of the project can be measured in terms of:
 Measuring satisfaction level of the customers
 Increasing working efficiency of the employees (Riyad bank, 2013)
 Storing information of about 6 million customers in the database
 On-time retrieval of financial information required by the customers
 24 hours online facility
 Managing backup support of the database (Grossman, McCarthy, and Aronson,
2014)
 Applicability in protecting the confidential information of the customers from
leaking
10. Recommendation(s) and Approvals
It is recommended that the system should be capable of fulfilling all the desired
requirement of the customers as they have put in the feedback system of the enterprise.
The above credentials of the project should be approved from the stakeholders.
Role Name Sign Off
Project Owner K.R. Thomson
Project Manager W. T. Williams
Project Sponsor W.M. Rose
Designer T. Liang
IT operation head S. T. Radhaswami
Subject Matter Expert R.D. Burman
Financial Manager D. Browne
Wealth creation manager R. George
Marketing and sales
officer
W. Zhang
© Alan Sixsmith 2018

References:
Adoluju, K., Olowokudejo, F., and Obalola, M. (2014). Information technology and
customer service performance among insurance companies. 1st ed. [ebook]. Available
at:
http://citeseerx.ist.psu.edu/viewdoc/download;jsessionid=DA0E67DDCE6FF716F0AF
E54E526A7DF6?doi=10.1.1.687.34&rep=rep1&type=pdf [Accessed 14 Apr. 2018].
Carcano, R., Suarez, G., and Ibarra, A. (2015). The use of project time management
processes and the schedule performance of the project. 1st ed. [ebook]. Available at:
file:///C:/Users/acer/Downloads/868479.pdf [Accessed 14 Apr. 2018].
Grossman, M., McCarthy, R., and Aronson, J. (2014). E-COMMERCE adoption in the
insurance company. 1st ed. [ebook]. Available at:
https://www.researchgate.net/publication/228545831_E-
COMMERCE_ADOPTION_IN_THE_INSURANCE_INDUSTRY [Accessed 14 Apr.
2018].
Halls, N. (2012). Project management: Recent development and research
opportunities. 1st ed. [ebook]. Available at:
https://link.springer.com/article/10.1007%2Fs11518-012-5190-5 [Accessed 14 Apr.
2018].
Kumar, M., and Anbouli, P. (2013). Impact of information technology in the service
delivery of indian insurance sector. 1st ed. [ebook]. Available at:
http://citeseerx.ist.psu.edu/viewdoc/download?
doi=10.1.1.679.9595&rep=rep1&type=pdf [Accessed 14 Apr. 2018].
Morris, P. (2013). Research and the future of project management. 1st ed. [ebook].
Available at: https://www.emeraldinsight.com/doi/abs/10.1108/17538371011014080
[Accessed 14 Apr. 2018].
Passenheim, O. (2014). Project Management. 1st ed. [ebook]. Available at:
http://home.hit.no/~hansha/documents/theses/projectmanagement.pdf [Accessed 14
Apr. 2018].
© Alan Sixsmith 2018

Riyad bank. (2013). Creating financial Proposal. 1st ed. [ebook]. Available at:
https://www.riyadbank.com/en/business-banking/resources/financial-proposal
[Accessed 14 Apr. 2018].
© Alan Sixsmith 2018