Project Management Plan: Developing a Customized Finance Application

This project management plan outlines the development of a customized finance application, covering key aspects such as project overview, organizational structure, and managerial processes. The plan details project responsibilities, risk management strategies, and a comprehensive work breakdown structure. It includes a detailed project schedule, resource allocation, and a thorough budget analysis. The project aims to develop an effective finance application using IT project management principles, ensuring efficient financial operations and improved system development. The assignment explores the implications of project management plan development, stakeholder responsibilities, and cost management, providing a synthetic development approach.

Running head: PROJECT MANAGEMENT PLAN
Project Management Plan
Developing a Customized Finance Application
Name of the Student:
Student ID:
Name of the University:
Author’s note:

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Table of Contents
1.0 Executive Summary...................................................................................................................2
2.0 Introduction................................................................................................................................2
2.1 Project Overview...................................................................................................................2
2.2 Evolution of SPMP................................................................................................................3
3.0 Project Organization..................................................................................................................3
3.1 Organizational Chart..............................................................................................................3
3.2 Project Responsibilities.........................................................................................................4
4.0 Managerial Process....................................................................................................................6
4.1 Management Objectives and Priorities..................................................................................6
4.2 Assumptions, Dependencies, and Priorities...........................................................................6
4.3 Risk Management..................................................................................................................7
4.3.1 Probability Matrix...........................................................................................................7
4.3.2 Risk Response Plan.........................................................................................................7
4.3.3 Risk Register...................................................................................................................7
5.0 Work to be done.........................................................................................................................8
5.1 Scope of the Project...............................................................................................................8

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5.2 Work Breakdown Structure...................................................................................................8
6.0 Work Package and Schedule...................................................................................................10
6.1 Work Packages....................................................................................................................10
6.2 Project Schedule..................................................................................................................11
6.3 Resources of Project............................................................................................................13
7.0 Budget......................................................................................................................................13
7.1 Detailed Budget Information...............................................................................................13
7.2 Budget Information..............................................................................................................14
8.0 Conclusion...............................................................................................................................16
9.0 Bibliography............................................................................................................................16
Appendix A: Gantt chart................................................................................................................18

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1.0 Executive Summary
The following assignment had been made on the topic of ‘Developing a customized finance
application’ and it would consider the use of the effective IT principles and techniques for
forming the completion of the effective communication. The implication of the improved project
management operations had helped the project managers for forming the effective system
development. The project had been formed for listing the deployment of the activities favoring
the utilization of the improved operation development. The completion of the project had
delivered an application supporting the effective financial operations. The assignment had
studied the implication of the project management plan development, implication of project
responsibilities for stakeholders, risk management plan, The analysis of the operations had
allowed the synthetic development of the cost management and schedule development of the
operations.
2.0 Introduction
The role of project management plan holds an integral role in the deployment of the effective
implementation of the activities favouring the alignment of the improved project development.
The analysis would also help in listing the analysis of the improved operation development. The
analysis had covered the impact of the using the implementation of the successful
implementation of the operations for favouring the alignment of effective implication of the
operations favouring finance application development. The deployment of the operations would
also form the successive analysis of the activities.
2.1 Project Overview

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The project is titled ‘Developing a customized finance application’ and it is developed for
forming the effective utilization of the operations so that the customized finance application can
be developed. It would allow the implication of the successive development operations for
forming the utilization of the improved operations. The customized finance application
development would help in forming the speculation of the activities for forming the utilization of
the activities. The application would ease the processes of forming the utilization of the activities
supporting the alignment of the operations. The deployment of the activities had helped in listing
the alignment of the activities so that effective implication of the operations can be formed. The
completion of the project would be based on the use of effective IT project management.
2.2 Evolution of SPMP
The software project management plan (SPMP) has seen considerable growth with the advent of
technological development. The implication of the technology innovation had helped in forming
improved services for the completion of the project plan. The IT projects have considered the
implication of the project management principles that are being implied for forming the
utilization of the existing operations. The development of the activities has also resulted for
forming the implication of the effective plan of operations.
3.0 Project Organization
3.1 Organizational Chart
The project of ‘Developing a customized finance application’ is an IT project developed for
easing the implication of the effective operation development. The development of the final
project deliverable would be dependent on the implication of the effective plan and operations.

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The organizational chart comprises of engineering management department, procurement
management, project controls, and administration department. The organizational chart
comprises of engineer managers, logistic board, contractors, planning department, estimation
department, legal department, HR department, accounting and tax department, and cost reporting
department. The project has the following organizational structure,
Figure 1: Organizational Structure of Project
3.2 Project Responsibilities
The project of ‘Developing a customized finance application’ has the responsibility of
developing the final customized finance application developed for the organization as the final
deliverable for the project. The stakeholders of the project has the following responsibilities,

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Human Resources Responsibilities
Analyst Analysis of requirements
Documenter Developing proper initiation documents
Documents are submitted
Reports are made
Project Manager Resource Accumulation
Outline of the plan is reviewed
Documents are signed off
Project progress is checked
Planner Plan outline is developed
Plan modification
Plan is Completed
Formation of implementation plan
Designer Platform for design is selected
Design Structure is made
Design is completed
Tester Simulation Testing
Beta Testing
White Box Testing
Database Developer Integrated Database is developed
IT Engineer Development of UI
Integrated Application is developed
Application function is listed
Planning of maintenance
Inspecting the application development

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Programmer Programming the functions
Trainer Staff training is done
4.0 Managerial Process
4.1 Management Objectives and Priorities
The management objective of implementing the project of ‘Developing a customized finance
application’ is implied for the development of the effective implementation of the operations and
development of the smart functions. The project is implied for the alignment of the IT
management operations for forming the development of the improved operational development.
The alignment of the project plan would result in forming the major factors of forming the
application with the implementation of IT project principles. The management objectives and
highest priority of the project is the development of effective plan of operations supporting the
implication of the activities favoring the management of financial operations. The alignment of
the project management with the objectives of the project would result in supporting the
implication of the successful project operations.
4.2 Assumptions, Dependencies, and Priorities
The completion of the project of ‘Developing a customized finance application’ in the estimated
time and duration, availability of the resources, and teamwork are the assumptions of the project.
The project depends on the estimated budget, deadline for the project deliverable, and
technological knowledge of the human resources. The development of the final customized

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finance application is a major factor for developing the final project deliverable is the primary
priority for the project.
4.3 Risk Management
4.3.1 Probability Matrix
Impact
Trivial Minor Moderate Major Extreme
Probability
Rare
Unlikely
Moderate Shortage of
resources
Likely Deisgn
Flaws
Very
Likely
Violation of
Schedule
4.3.2 Risk Response Plan
Risk Name Response Strategy Risk Response Plan
Design Flaws Transfer External expert should be contacted
Shortage of resources Accept Provisional budget should be made
Violation of schedule Mitigate Project Crashing should be done
4.3.3 Risk Register

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Risk Name Risk Type Probability Impact Mitigation
Design Flaws Technical Likely Extreme External expert should be
contacted
Shortage of
resources
Financial Moderate Major Provisional budget should be
made
Violation of
schedule
Operational Very Likely Minor Project Crashing should be done
5.0 Work to be done
5.1 Scope of the Project
The project scopes for the utilization of the project management concepts for developing the
customized finance application for the organization. A number of works fall under the scope of
the project namely, platform for design is selected, design is completed, integrated database is
developed, development of UI, Programming the functions, beta testing, white box testing,
integrated application is developed, system development completed, formation of
implementation plan, application function is listed, planning of maintenance, staff training is
done, reports are made, and closure of the project.
5.2 Work Breakdown Structure
The work break down structure for the project of ‘Developing a customized finance application’
is shown below,

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Developing a customised
finance application
Initial Phase
Analysis of
requirements
Developing proper
initiation documents
Resource
Accumulation
Documents are
submitted
Project Kick off
Plan Phase
Plan outline is
developed
Outline of the plan is
reviewed
Plan modification
Plan is Completed
Approval of plan
Design Phase
Platform for design
is selected
Design Structure is
made
Simulation Testing
Design is completed
Approval of design
System Development
Integrated Database is
developed
Development of UI
Programming the
functions
Beta Testing
White Box Testing
Integrated
Application is
developed
System
Development
Completed
System Implementation
Formation of
implementation plan
Application function
is listed
Planning of
maintenance
Staff training is done
System
Implementation
Completed
Closing Phase
Project progress is
checked
Reports are made
Documents are
signed off
Inspecting the
application
development
Closure of the
project
Figure 2: Work breakdown structure

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6.0 Work Package and Schedule
6.1 Work Packages
The project of ‘Developing a customized finance application’ involves the use of 6 work
packages effectively for implementing the final project deliverable namely initial phase, plan
phase, design phase, system development, system implementation, and closing phase. These
phases act as an individual work packages that are required for the completion before
achievement of the final deliverable.
Initial Phase: The initial phase would be formed for initiating the project activities and it
includes analysis of requirements, developing proper initiation documents, resource
accumulation, documents are submitted, and project kick off.
Plan Phase: The plan phase would be formed for developing a project plan with the project
activities and it includes plan outline is developed, outline of the plan is reviewed, plan
modification, plan is completed, and approval of plan.
Design Phase: The design phase would be formed for forming the design of the customized
financial application and it includes platform for design is selected, design structure is made,
simulation testing, design is completed, and approval of design.
System Development: The system development would be formed for developing the customized
finance application and it includes integrated database is developed, development of UI,
programming the functions, beta testing, white box testing, integrated application is developed,
and system development completed.