Mobile Application Development Project Financial Feasibility

This project report details the development of a mobile application for a financial firm, outlining the project's financial feasibility. It covers the company's introduction, project overview, and the application's features, including its design using Adobe Experience Design and development with Adobe PhoneGap Build. The report assesses capital requirements, funding sources, and expected returns, such as increased revenue and enhanced employee productivity. A comprehensive risk analysis identifies potential threats like information security risks, quality issues, and schedule overruns, along with mitigation strategies. The project concludes that the mobile application is financially viable, offering substantial benefits and manageable risks.

2018
Mobile Application
Development Project

Mobile Application Development
Table of Contents
Introduction of the Company.................................................................................................................2
Project Overview...................................................................................................................................2
Product of the Company........................................................................................................................2
Assessment of Financial Feasibility of the Company............................................................................2
Capital Requirements........................................................................................................................2
Funding Sources................................................................................................................................3
Returns & Benefits............................................................................................................................3
Risk Analysis of the Project..................................................................................................................3
Conclusion.............................................................................................................................................4
References.............................................................................................................................................5
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Mobile Application Development
Introduction of the Company
XYZ is a software firm that is based out of Singapore and develops web applications and
mobile applications for its customers. The company was incepted in the year 2009 and works
in the domains as finance, healthcare, and commercial. There are currently 60 employees that
are associated with the organization. The majority of the clients that are associated with the
organization are small and medium scale enterprises. The organization makes sure that it
makes use of latest technology in all of its design and development work to offer innovative
applications to its customers.
Project Overview
XYZ is developing a mobile application for one its clients that is a small-scale financial firm.
The mobile application will run on iOS and Android platforms. The application is being
developed for the employees of the financial firm to manage the customer data and
information, automatically allocate the duties and responsibilities to the employees, and keep
a track of the projects undertaken by the organization.
Product of the Company
The mobile application to be developed by the company will be designed using Adobe
Experience Design tool and the source code will be developed using Adobe PhoneGap Build.
The testing of the mobile application will be done in Google Chrome Emulator along with the
testing tools as Selenium and HP Quality Centre. The mobile application will have a home
screen along with the screens for each of the modules. The non-functional requirements as
scalability, security, performance, reliability, and availability will be included in the
application (Payne, 2013).
Assessment of Financial Feasibility of the Company
Capital Requirements
The primary costs that will be associated with the project will be the cost of tools. Adobe
Experience Design comes with a cost of $19.99 per month and HP Quality Centre comes at
the cost of $45 per user per month. Adobe PhoneGap Build and Selenium come for free of
cost. There will be database costs that will be involved with MySQL Server as the database
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Mobile Application Development
and it will come for a cost of $5000. There will be cost of resources, design & development
costs, and training costs that will be involved and have been estimated to be $60,000.
Funding Sources
The project will be funded by the Project Sponsor as the financial firm and there will also be
the business partners of the firm that will assist and play a significant role in providing the
project funds (Huston & Jadevicius, 2014).
Returns & Benefits
The implementation of the mobile application will streamline the operations for the financial
firm which will lead to increased revenues for the organization. The revenues will enhance by
35% along with the enhancement of employee productivity and efficiency by 45%. The
market shares of the organization will improve by 37% as an outcome.
Risk Analysis of the Project
There will be several risks that will be associated with the project and these have been
summarized in the table below.
Risk
ID
Name Description Probability Impact
1 Information
Security Risks
The mobile application that
is being developed may be
exposed to information
security threats and attacks,
such as malware attacks,
network-based security
attacks, etc.
4 5
2 Quality Risks The quality of the mobile
application may not be in
accordance with the quality
standards.
1 5
3 Schedule/Budget
Overrun
The overrun of the
estimated schedule or
budget may come up with
re-work and increased
3 5
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Mobile Application Development
changes (Ravis, 2013).
4 Resource Risks The project resources may
not contribute to the project
as per the expected
productivity levels.
2 4
5 Operational
Errors
There may be operational
errors encountered by the
resources.
3 3
6 Technical Faults The technical tools and
faults may have an error
and may not function as per
the expectation.
2 4
7 Ethical Issues Non-adherence to the
ethical standards
2 5
8 Legal
Obligations
Non-adherence to the legal
standards
1 5
The probability and impact scores are assigned on a scale of 1 to 5 with 5 being the highest.
These risks can be mitigated and avoided in the project by using suitable treatment strategy
for risk control and management. The use of security controls, audits & reviews, trainings to
the resources, discussions with the resources, and assessments can mitigate and avoid the
issues listed above (Simister, 2004).
Conclusion
The project will be feasible from the financial point of view as the project costs will be
arranged by the sources of funding and the project will provide good returns and benefits.
The project risks will also be controlled and managed easily with the application of adequate
control and treatment strategies.
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Mobile Application Development
References
Huston, S., & Jadevicius, A. (2014). Sustainability Assessment and Feasibility Analysis:
Towards Reflexive Foresight and Financial Scrutiny. SSRN Electronic Journal. doi:
10.2139/ssrn.2465848
Payne, J. (2013). Secure Mobile Application Development. IT Professional, 15(3), 6-9. doi:
10.1109/mitp.2013.46
Ravis, J. (2013). Risk Analysis Paramount in Project Financing Decisions. Natural Gas &
Electricity, 30(4), 1-7. doi: 10.1002/gas.21721
Simister, S. (2004). Managing Project Risk and Uncertainty. International Journal Of Project
Management, 22(3), 269-270. doi: 10.1016/s0263-7863(03)00007-3
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