Project Charter: Cornerstone Securities Online Portfolio - UTS 2018

This document is a project charter for Cornerstone Securities' "Online Investment Portfolio" project. It outlines the project's purpose, background, and objectives, which include developing a secure online investment portfolio system, enhancing customer service, increasing customer retention and satisfaction, achieving operational cost savings, and growing market share in Australia. The charter identifies key stakeholders, constraints (time and budget), and the project's scope, including the development of the online investment portfolio, enhancing customer satisfaction, increasing data access, providing security, training staff, developing a customer service module, and ensuring 24x7 online services. The work breakdown structure (WBS) details the tasks involved in the project, from planning to closure. The project's success criteria are based on resolving difficulties in handling customers and transactions and providing secure online services. Recommendations emphasize the importance of approvals from boards and senior executives and a clear project charter to guide the project's progress.

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_______________________________________________________5
8. WORK BREAKDOWN STRUCTURE________________________________5
9. PROJECT SUCCESS CRITERIA____________________________________6
10. RECOMMENDATION(S) AND APPROVALS______________________6
[Please ensure the Table of Contents is updated to reflect the final headings and
page numbers in your Project Charter]
© Alan Sixsmith 2018

1. Document Purpose
The main purpose of creating the project charter is that it helps in providing
proper information about the project including the scope, objectives as well as
assumptions that are very much needed in order to complete the project successfully
within the estimated budget and time. Project charter is quite important as it generally
helps in initiating, planning, executing, control as well as accessing the project
successfully. In addition to this, it generally serves as a single point of reference for the
project objectives as well as goals. The document is also helpful in guiding the project
in a proper direction by keep each of the tasks project specific so that the gaols and
objectives of the project can be met easily.
2. Project Background
The paper mainly focuses on the organization “Cornerstone Securities” that
initially operates within the financial sector in the year 2008.However in 2011, the
company move to the wealth creation and financial market in New Zealand and
Australia, which proved successful. During the year 2013 to 2017, the company wants
to make a major move by various individual investors for using the facility of e-
business. This generally creates number of issues on the present IT infrastructure of the
company especially in context to piecemeal development for handling large number
transactions as well as customers. The organization is receiving number of complaints
from the customers due to improper online service and this problem become of the
major priority and thus the organization wants to resolve it. The company wants to
implement online investment portfolio system in order to provide secure as well as
proper use of online services for all potential new, current, incorporate customer
service as well as for back office system within the organization. The new system that
the company wants to implement is mainly supported by various improved practices as
well as process of business that generally resides on architectural sound network as
well as hardware platform.
3. Project Objectives
The objectives of the project mainly include:
 To develop online Investment portfolio system in order to deliver secure as
well as easy way of utilizing online system
 To provide customer services to the customers with the help of improved
practices as well as processes
 To enhance customer retention as well as customer satisfaction
 To achieve proper substantial operational cost savings as well as staff
productivity improvements
 Growing market share in Australia
4. Project Value Statement
The project value statements are provided below:
 The market share of the company will grow by 25% in Australia, New Zealand
as well as in South Pacific region.
 The online investment portfolio system that is developed will operate 24x7
days
 The rate of handling as well as managing customers would get doubled after 12
months
© Alan Sixsmith 2018

5. Project Stakeholders
The project stakeholders who are mainly involved with the project are listed in the
table below:
Name Position Contact details
Jane Smith Project manager [e-mail]
John McLane Business analyst [e-mail]
Mike Ross Hardware and Network
engineer
[e-mail]
Harvey Spector Business analyst [e-mail]
Sylvester Knight Security specialist [e-mail]
Zohaib Khan Hardware and Network
engineer
[e-mail]
Jannette Joyce Security specialist [e-mail]
Susan Smith Business analyst [e-mail]
6. Constraints
The constraints of the project are as follows:
Time: The project must be successfully completed within 11 months and it
should not exceed December 2019. If the project is not completed within the due date
then the budget that is associated with project also creates which will quite difficult to
manage for the organization
Budget: The project must be completed properly within the assumed budget
that is around $A5 million. If budget shortfall happens during the progress of the
project then it is quite difficult to complete the project due to financial crisis.
Building of pilot version: The pilot version of the project must be
implemented in order to test the working of the system in context to organizational
objectives and goals.
Request for proposal: Proper request needs to be generated if there is a
requirement of purchasing for new hardware or network infrastructure of the company.
© Alan Sixsmith 2018

7. In Scope
The in-scope of the project includes:
 Development of online investment portfolio project for provide secure and
proper online services
 Enhancing the satisfaction of the customers
 Increasing financial and information data access
 Providing paramount security though the ease of use is not sacrificed
 Proper training of the staffs in order to support the new online investment
system
 Development of customer service module for getting compliments about tee w
system
 Providing online services to the customers 24x7
 Giving proper availability of wealth creation as well as financial investment
products
 The system must able to handle 6 million of the customers
8. Work Breakdown Structure
WBS Task Name
1 Online Investment Portfolio Project
1.1 Project planning phase
1.1.1 Determination of new practices as well as processes
1.1.2 Project proposal development
1.1.3 Getting approval for the project
1.1.4 Identifying stakeholders of the project
1.1.5 Project plan approval
1.2 Web application design
1.2.1 Gathering information for initial stage'
1.2.2 Creation of hardware and network infrastructure audit
1.2.3 Development of IT architectural plan
1.2.4 Purchasing of new solutions for hardware and network infrastructure
1.2.5 Pilot version of new online portfolio investment system
1.2.6 Undertaking meeting for kick-off project
1.2.7 Final design approval
1.3 Coding
1.3.1 Construction of prototype
1.3.2 Database development
1.3.3 Code validation
1.3.4 Testing of cross-browser
1.3.5 Optimization
1.3.6 Data migration
1.4 User experience
1.4.1 Improvement in customer service
1.4.2 Project details update
1.4.3 Display of presentation program
1.5 Project requirement
1.5.1 Web application assessment
1.5.2 Estimating hardware and software needs
© Alan Sixsmith 2018

1.5.3 Testing and reviewing
1.5.4 Getting operational support
1.6 Project closure phase
1.6.1 Risk assessment
1.6.2 Quality management
1.6.3 Final review
9. Project Success Criteria
If the implementation of the online Investment Portfolio system will be helps in
resolving all the difficulties that the company is facing in handling its customers as well as
transactions then the project can be considered successful. In addition to this, the project must
be able to provide proper as well as secure online services for all potential new, current,
incorporate customer service as well as for back office system within the organization
so that the issues as well as challenges associated with the current system of the
organization can be resolved. The success criteria of the project must be checked after
the implementation of the project. If after the project closure phase, the system is able
to handling all the business operations successfully without creating any problems or
challenges the system is considered as successful.
10. Recommendation(s) and Approvals
The recommendations and approvals that are required for the implementation of
online Investment Portfolio project are elaborated below:
Approval: It is very much necessary to get approval from boards as well as from
other senior executive officer as approval on time will lead the project completion on
time which helps in adding more value to the organization as the company is able to
achieve the goals as well as objectives that are associated with the project. In addition
to this, it is quite necessary to get approval for everything that is added or excluded for
the project. Without approval, the changes within the project cannot be done. As
changes within the project can create huge impact on the outcome, thus it is necessary
to get approval before proceeding with any time of changes within the project.
Project charter: The project charter must prove the objectives as well as goals
of the project clearly, so that the project manager can able to achieve success within
the project by following the document during project initiation, planning, execution as
well as control. In addition to this, the charter must be created in a way that is provide
proper guidance throughout the project progress so that the entire project will be
completed successfully within the assumed budget as well as time.
© Alan Sixsmith 2018