32541 Project Management: Online Investment Portfolio Project Plan
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AI Summary
This document presents a comprehensive project plan for Cornerstone Securities' transition from an offline business to an online platform with cloud implementation. It outlines the project's background, objectives, stakeholders, value statement, and constraints, emphasizing the benefits of expanding customer reach and ensuring 24/7 availability. The plan includes a detailed task list with resource allocation, a budget of $500,000 over 276 days, and quality and risk management processes. Monitoring and control strategies are defined to address potential obstacles and maintain project scope, budget, and timeline. The plan concludes with an implementation strategy and recommendations, highlighting the significant organizational changes needed to achieve successful cloud implementation and gain a competitive edge.
32541 Project Management – Assignment 2 Part A
Due 6pm 4thJune 2018
Cornerstone Securities
“Online Investment
Portfolio”ProjectPlan
© Alan Sixsmith 2018
Due 6pm 4thJune 2018
Cornerstone Securities
“Online Investment
Portfolio”ProjectPlan
© Alan Sixsmith 2018
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Prepared By: [Student Id &Full Name]
[Student Id & Full Name]
[Student Id & Full Name]
Project Managers
[Student Id & Full Name]
[Student Id & Full Name]
Project Managers
Online Investment Portfolio - Project Plan
Table of Contents
1. DOCUMENT PURPOSE___________________________________________4
2. PROJECT BACKGROUND_________________________________________4
3. PROJECT OBJECTIVES___________________________________________5
4. PROJECT STAKEHOLDERS_______________________________________5
5. PROJECT VALUE STATEMENT____________________________________6
6. PROJECT CONSTRAINTS_________________________________________6
7. PROJECT SCOPE________________________________________________7
8. TASK LIST______________________________________________________8
9. PROJECT BUDGET_____________________________________________12
10. PROJECT TIME ESTIMATE_____________________________________12
11. QUALITY MANAGEMENT PROCESS___________________________13
12. RISK MANAGEMENT PROCESS_______________________________16
13. MONITORING AND CONTROL________________________________19
14. IMPLEMENTATION STRATEGY________________________________22
15. RECOMMENDATION(S) AND APPROVALS_____________________23
16. BIBLIOGRAPHY________________________________________________24
© Alan Sixsmith 2018 Page 3
Table of Contents
1. DOCUMENT PURPOSE___________________________________________4
2. PROJECT BACKGROUND_________________________________________4
3. PROJECT OBJECTIVES___________________________________________5
4. PROJECT STAKEHOLDERS_______________________________________5
5. PROJECT VALUE STATEMENT____________________________________6
6. PROJECT CONSTRAINTS_________________________________________6
7. PROJECT SCOPE________________________________________________7
8. TASK LIST______________________________________________________8
9. PROJECT BUDGET_____________________________________________12
10. PROJECT TIME ESTIMATE_____________________________________12
11. QUALITY MANAGEMENT PROCESS___________________________13
12. RISK MANAGEMENT PROCESS_______________________________16
13. MONITORING AND CONTROL________________________________19
14. IMPLEMENTATION STRATEGY________________________________22
15. RECOMMENDATION(S) AND APPROVALS_____________________23
16. BIBLIOGRAPHY________________________________________________24
© Alan Sixsmith 2018 Page 3
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Online Investment Portfolio - Project Plan
1. Document Purpose
The purpose of the entire document is to put forward a project plan that
would help in turning the business process of Cornerstone Securities from being
an offline organization into implementing online services and further
implementing cloud services. There are various reasons of an offline business to
turn into one available online through cloud implementation, and mostly they are
favourable much more rather than running the business offline. Previously,
Cornerstone Securities had a physical location and used to offer services in
person, phone or emails, just like any other traditional set of companies.
Cornerstone Securities also wants to support their customers into providing
services at any given amount of time. After the organization has received
approval from higher authorities into changing the business process of the entire
organization, Cornerstone Securities now wants to implement this plan initially
through documentation. This document would give the clear idea about the
entire project plan on how to make Cornerstone Securities go online rather being
offline, including the reasons behind the need to do so. The project objectives
would be essentially specified including the involvement of the stakeholders in
the organization as per the project needs. It would then specify the value
statement behind the entire project for helping Cornerstone securities go online
from offline as well as describing the constraints regarding the entire project.
The documentation would also include the task list, along with the budget
allocated for the project and the time required for the completion of cloud
implementation. Furthermore, it would also include the aftermath of the
implementation through quality management, risk management and monitoring
and controlling of the project. Finally, the document would conclude with the
implementation strategy and recommendations for the entire project plan.
2. Project Background
Cornerstone Securities have been successfully providing services to its
customers through their physical presence so far. However, given the changes in
technological environment and the rapidly changing business environment along
© Alan Sixsmith 2018 Page 4
1. Document Purpose
The purpose of the entire document is to put forward a project plan that
would help in turning the business process of Cornerstone Securities from being
an offline organization into implementing online services and further
implementing cloud services. There are various reasons of an offline business to
turn into one available online through cloud implementation, and mostly they are
favourable much more rather than running the business offline. Previously,
Cornerstone Securities had a physical location and used to offer services in
person, phone or emails, just like any other traditional set of companies.
Cornerstone Securities also wants to support their customers into providing
services at any given amount of time. After the organization has received
approval from higher authorities into changing the business process of the entire
organization, Cornerstone Securities now wants to implement this plan initially
through documentation. This document would give the clear idea about the
entire project plan on how to make Cornerstone Securities go online rather being
offline, including the reasons behind the need to do so. The project objectives
would be essentially specified including the involvement of the stakeholders in
the organization as per the project needs. It would then specify the value
statement behind the entire project for helping Cornerstone securities go online
from offline as well as describing the constraints regarding the entire project.
The documentation would also include the task list, along with the budget
allocated for the project and the time required for the completion of cloud
implementation. Furthermore, it would also include the aftermath of the
implementation through quality management, risk management and monitoring
and controlling of the project. Finally, the document would conclude with the
implementation strategy and recommendations for the entire project plan.
2. Project Background
Cornerstone Securities have been successfully providing services to its
customers through their physical presence so far. However, given the changes in
technological environment and the rapidly changing business environment along
© Alan Sixsmith 2018 Page 4
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Online Investment Portfolio - Project Plan
with it has compelled the organization into making further developments by
implementing strategies to make the entire business process shift from being a
physically present organization to be present online. In addition, Cornerstone
Securities wants to move the entire business function to move into cloud.
Cornerstone Securities are in dire need of spreading the business to a much
vaster customer reach, which would not have been possible, had the business
continued to run offline. In addition, going online would give the organization the
opportunity of going absolutely available anytime rather than being available for a
certain amount of time. Therefore, the project management plan is hence
commenced to turn the business process of Cornerstone Securities into moving
towards cloud implementation.
3. Project Objectives
Any organization trying to change its business process would primarily ask
for a project management plan that would be feasible enough to only help in
adding benefits to the organization. Any project that do not satisfy this primary
objective is not fit enough to be implemented. In case of Cornerstone Securities,
the entire business process is in need of changing from being physically available
to be available online and further into the cloud. The primary objective in this
regard is to make the project plan for the change in business process according to
a feasible budget plan and also within a considerable amount of time involving an
appropriate set of people to work as a team. Furthermore, the objective of the
project would be the correct implementation of the theoretical documented plans
into action for the change in business process.
4. Project Stakeholders
Following are the enlisted project stakeholders that would actively be part
of the entire project planning and implementation needed for the change in
business process for Cornerstone Securities:
Owners of the organization
Project Directors
Project Manager
© Alan Sixsmith 2018 Page 5
with it has compelled the organization into making further developments by
implementing strategies to make the entire business process shift from being a
physically present organization to be present online. In addition, Cornerstone
Securities wants to move the entire business function to move into cloud.
Cornerstone Securities are in dire need of spreading the business to a much
vaster customer reach, which would not have been possible, had the business
continued to run offline. In addition, going online would give the organization the
opportunity of going absolutely available anytime rather than being available for a
certain amount of time. Therefore, the project management plan is hence
commenced to turn the business process of Cornerstone Securities into moving
towards cloud implementation.
3. Project Objectives
Any organization trying to change its business process would primarily ask
for a project management plan that would be feasible enough to only help in
adding benefits to the organization. Any project that do not satisfy this primary
objective is not fit enough to be implemented. In case of Cornerstone Securities,
the entire business process is in need of changing from being physically available
to be available online and further into the cloud. The primary objective in this
regard is to make the project plan for the change in business process according to
a feasible budget plan and also within a considerable amount of time involving an
appropriate set of people to work as a team. Furthermore, the objective of the
project would be the correct implementation of the theoretical documented plans
into action for the change in business process.
4. Project Stakeholders
Following are the enlisted project stakeholders that would actively be part
of the entire project planning and implementation needed for the change in
business process for Cornerstone Securities:
Owners of the organization
Project Directors
Project Manager
© Alan Sixsmith 2018 Page 5
Online Investment Portfolio - Project Plan
Employees involved in the Project
Vendors
Contractors
Clients
5. Project Value Statement
The project management plan states that the entire shift of the business
process of Cornerstone Securities from offline to online and further into cloud
implementation would indeed need some drastic changes in the working structure
of the organization as well as will take up a considerable amount of time,
however, this would only benefit to the organization’s overall development. The
implementation of this project would further help the organization into coping up
with its competitors and also would include strategies so that they can be ahead
of the competitors. The project would require a specific budget, however, it is
ensured that the implementation is most likely to stay within the budget and
would not cause any budgetary fluctuation to the funds of the organization. The
project plan proposed has detailed description about the funds spent and the
scope of the project after utilizing organizational resources. Thus, there is no
chance of overusing the organizational resources and funds.
6. Project Constraints
In any project proposition, three significant constraints are noticeable.
These are project scheduling, project scope and project budget. In this project
proposition where the Cornerstone Software organization wants to change the
business process from being available offline be available online and further to
the cloud, these can become the main project constraints if any obstacle is
noticed during the implementation of the project plan. Any change in the pre-
decided plans would most likely make the project go ahead of the scheduled
timing for the project, increasing the project budget in the process. Therefore,
during the project planning, the risk mitigation plans should also be included
beforehand. In this case as well, the project planning would include strategies to
check the quality of the entire project during the time of its implementation as
© Alan Sixsmith 2018 Page 6
Employees involved in the Project
Vendors
Contractors
Clients
5. Project Value Statement
The project management plan states that the entire shift of the business
process of Cornerstone Securities from offline to online and further into cloud
implementation would indeed need some drastic changes in the working structure
of the organization as well as will take up a considerable amount of time,
however, this would only benefit to the organization’s overall development. The
implementation of this project would further help the organization into coping up
with its competitors and also would include strategies so that they can be ahead
of the competitors. The project would require a specific budget, however, it is
ensured that the implementation is most likely to stay within the budget and
would not cause any budgetary fluctuation to the funds of the organization. The
project plan proposed has detailed description about the funds spent and the
scope of the project after utilizing organizational resources. Thus, there is no
chance of overusing the organizational resources and funds.
6. Project Constraints
In any project proposition, three significant constraints are noticeable.
These are project scheduling, project scope and project budget. In this project
proposition where the Cornerstone Software organization wants to change the
business process from being available offline be available online and further to
the cloud, these can become the main project constraints if any obstacle is
noticed during the implementation of the project plan. Any change in the pre-
decided plans would most likely make the project go ahead of the scheduled
timing for the project, increasing the project budget in the process. Therefore,
during the project planning, the risk mitigation plans should also be included
beforehand. In this case as well, the project planning would include strategies to
check the quality of the entire project during the time of its implementation as
© Alan Sixsmith 2018 Page 6
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Online Investment Portfolio - Project Plan
well as the project monitoring and controlling plans would be done during that
time. This would help in noticing any obstacle during the implementation process
and eradicating the risks so that it does not form any constraint to the project. In
this way, the scope of the project would be kept intact along with the budget
decided for the project and the pre-scheduled time required to complete the
project.
7. Project Scope
The scope of this project for changing the business process for Cornerstone
Securities into online services and further into cloud implementation only adds to
the benefit of the organization. Having the offline services had made the scope of
the organization limited. If online business process is implemented, this would
enable unlimited scope for the organization. Online business process would
enable the organization to reach a vast area of customers. This would include
both the existing customers and the probable customers as well. The
implementation of the business process available online would make the
organization serve their customers and provide further support at any time, which
was limited to specific time span given its physical existence. Therefore, there are
unlimited scope of improvement with this project implementation which would
make the organization be ahead of its competitors given the technological change
is the business arena.
8.
© Alan Sixsmith 2018 Page 7
well as the project monitoring and controlling plans would be done during that
time. This would help in noticing any obstacle during the implementation process
and eradicating the risks so that it does not form any constraint to the project. In
this way, the scope of the project would be kept intact along with the budget
decided for the project and the pre-scheduled time required to complete the
project.
7. Project Scope
The scope of this project for changing the business process for Cornerstone
Securities into online services and further into cloud implementation only adds to
the benefit of the organization. Having the offline services had made the scope of
the organization limited. If online business process is implemented, this would
enable unlimited scope for the organization. Online business process would
enable the organization to reach a vast area of customers. This would include
both the existing customers and the probable customers as well. The
implementation of the business process available online would make the
organization serve their customers and provide further support at any time, which
was limited to specific time span given its physical existence. Therefore, there are
unlimited scope of improvement with this project implementation which would
make the organization be ahead of its competitors given the technological change
is the business arena.
8.
© Alan Sixsmith 2018 Page 7
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Online Investment Portfolio - Project Plan
8. Task List
WBS Task Name
0 Cloud Implementation in Cornerstone Securities
1 Initialization
1.1 Analysis of requirements
1.2 Listing the needs for changing the alignment of the activities
1.3 Initiation documents
1.4 Charter Documents
1.5 review of the documents
1.6 submission of the documents
1.7 Sign off the documents
1.8 Project kick off meeting
1.9 D1: Project Initiation Requirement Plan
1.10 M1: Kick off
2 Planning
2.1 Analysis of requirements
2.2 Sorting the needs of the project
2.3 Listing the activities
2.4 Scheduling the project activities
2.5 Making project Plan
2.6 Risk Management Plan
2.7 Cost Management Plan
2.8 Review of the Plan
2.9 D2: Plans
2.10 M2: Plan Completed
3 Designing
© Alan Sixsmith 2018 Page 8
8. Task List
WBS Task Name
0 Cloud Implementation in Cornerstone Securities
1 Initialization
1.1 Analysis of requirements
1.2 Listing the needs for changing the alignment of the activities
1.3 Initiation documents
1.4 Charter Documents
1.5 review of the documents
1.6 submission of the documents
1.7 Sign off the documents
1.8 Project kick off meeting
1.9 D1: Project Initiation Requirement Plan
1.10 M1: Kick off
2 Planning
2.1 Analysis of requirements
2.2 Sorting the needs of the project
2.3 Listing the activities
2.4 Scheduling the project activities
2.5 Making project Plan
2.6 Risk Management Plan
2.7 Cost Management Plan
2.8 Review of the Plan
2.9 D2: Plans
2.10 M2: Plan Completed
3 Designing
© Alan Sixsmith 2018 Page 8
Online Investment Portfolio - Project Plan
3.1 Selecting database outline
3.2 Listing requirements of database
3.3 database Platform and Methodology is selected
3.4 database Outline is developed
3.5 Complete database is formed
3.6 Database Specification is listed
3.7 database Review
3.8 D3: database
3.9 M3: database Approval
4 Developing
4.1 Database Development
4.1.1 Selecting database outline
4.1.2 Listing requirements of database
4.1.3 database Platform and Methodology is selected
4.1.4 database Outline is developed
4.1.5 Complete database is formed
4.1.6 Design Specification is listed
4.1.7 database Review
4.1.8 D4: database
4.1.9 M4: database Approval
4.2 Cloud Functions Development
4.2.1 Selecting Cloud Functions outline
4.2.2 Listing requirements of Cloud Functions
4.2.3 Cloud Functions Platform and Methodology is selected
4.2.4 Cloud Functions Outline is developed
4.2.5 Complete Cloud Functions is formed
4.2.6 Cloud Functions Specification is listed
© Alan Sixsmith 2018 Page 9
3.1 Selecting database outline
3.2 Listing requirements of database
3.3 database Platform and Methodology is selected
3.4 database Outline is developed
3.5 Complete database is formed
3.6 Database Specification is listed
3.7 database Review
3.8 D3: database
3.9 M3: database Approval
4 Developing
4.1 Database Development
4.1.1 Selecting database outline
4.1.2 Listing requirements of database
4.1.3 database Platform and Methodology is selected
4.1.4 database Outline is developed
4.1.5 Complete database is formed
4.1.6 Design Specification is listed
4.1.7 database Review
4.1.8 D4: database
4.1.9 M4: database Approval
4.2 Cloud Functions Development
4.2.1 Selecting Cloud Functions outline
4.2.2 Listing requirements of Cloud Functions
4.2.3 Cloud Functions Platform and Methodology is selected
4.2.4 Cloud Functions Outline is developed
4.2.5 Complete Cloud Functions is formed
4.2.6 Cloud Functions Specification is listed
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4.2.7 Cloud Functions Review
4.2.8 D3: Cloud Functions
4.2.9 M4: Cloud Functions Approval
4.3 Testing Phase
4.3.1 Selecting Testing outline
4.3.2 Listing requirements of Testing
4.3.3 Testing Platform and Methodology is selected
4.3.4 Testing Outline is developed
4.3.5 Complete Testing is formed
4.3.6 Testing Specification is listed
4.3.7 Testing Review
4.3.8 D3: Testing
4.3.9 M4: Testing Approval
4.4 Implementation Phase
4.4.1 Selecting Implementation outline
4.4.2 Listing requirements of Implementation
4.4.3 Implementation Platform and Methodology is selected
4.4.4 Implementation Outline is developed
4.4.5 Complete Implementation is formed
4.4.6 Implementation Specification is listed
4.4.7 Implementation Review
4.4.8 D5: Implementation
4.4.9 M5: Implementation Approval
4.5 Monitoring and Controlling
4.5.1 Selecting Monitor and Control Plan outline
© Alan Sixsmith 2018 Page 10
4.2.7 Cloud Functions Review
4.2.8 D3: Cloud Functions
4.2.9 M4: Cloud Functions Approval
4.3 Testing Phase
4.3.1 Selecting Testing outline
4.3.2 Listing requirements of Testing
4.3.3 Testing Platform and Methodology is selected
4.3.4 Testing Outline is developed
4.3.5 Complete Testing is formed
4.3.6 Testing Specification is listed
4.3.7 Testing Review
4.3.8 D3: Testing
4.3.9 M4: Testing Approval
4.4 Implementation Phase
4.4.1 Selecting Implementation outline
4.4.2 Listing requirements of Implementation
4.4.3 Implementation Platform and Methodology is selected
4.4.4 Implementation Outline is developed
4.4.5 Complete Implementation is formed
4.4.6 Implementation Specification is listed
4.4.7 Implementation Review
4.4.8 D5: Implementation
4.4.9 M5: Implementation Approval
4.5 Monitoring and Controlling
4.5.1 Selecting Monitor and Control Plan outline
© Alan Sixsmith 2018 Page 10
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Online Investment Portfolio - Project Plan
4.5.2 Listing requirements of Monitor and Control Plan
4.5.3
Monitor and Control Plan Platform and Methodology is
selected
4.5.4 Monitor and Control Plan Outline is developed
4.5.5 Complete Monitor and Control Plan is formed
4.5.6 Monitor and Control Plan Specification is listed
4.5.7 Monitor and Control Plan Review
4.5.8 D6: Monitor and Control Plan
4.5.9 M6: Monitor and Control Plan Approval
5 Go Live
5.1 Selecting Go Live outline
5.2 Listing requirements of Go Live
5.3 Go Live Platform and Methodology is selected
5.4 Go Live Outline is developed
5.5 Complete Go Live is formed
5.6 Go Live Specification is listed
5.7 Go Live Review
5.8 D7: Go Live
5.9 M7: Go Live Approval
6 Website Maintenance
6.1 Selecting Website Maintenance outline
6.2 Listing requirements of Website Maintenance
6.3 Website Maintenance Platform and Methodology is selected
6.4 Website Maintenance Outline is developed
6.5 Complete Website Maintenance is formed
6.6 Website Maintenance Specification is listed
6.7 Website Maintenance Review
© Alan Sixsmith 2018 Page 11
4.5.2 Listing requirements of Monitor and Control Plan
4.5.3
Monitor and Control Plan Platform and Methodology is
selected
4.5.4 Monitor and Control Plan Outline is developed
4.5.5 Complete Monitor and Control Plan is formed
4.5.6 Monitor and Control Plan Specification is listed
4.5.7 Monitor and Control Plan Review
4.5.8 D6: Monitor and Control Plan
4.5.9 M6: Monitor and Control Plan Approval
5 Go Live
5.1 Selecting Go Live outline
5.2 Listing requirements of Go Live
5.3 Go Live Platform and Methodology is selected
5.4 Go Live Outline is developed
5.5 Complete Go Live is formed
5.6 Go Live Specification is listed
5.7 Go Live Review
5.8 D7: Go Live
5.9 M7: Go Live Approval
6 Website Maintenance
6.1 Selecting Website Maintenance outline
6.2 Listing requirements of Website Maintenance
6.3 Website Maintenance Platform and Methodology is selected
6.4 Website Maintenance Outline is developed
6.5 Complete Website Maintenance is formed
6.6 Website Maintenance Specification is listed
6.7 Website Maintenance Review
© Alan Sixsmith 2018 Page 11
Online Investment Portfolio - Project Plan
6.8 D8: Website Maintenance
6.9 M8: Website Maintenance Approval
7 Project Closure
7.1 Final Documents are made
7.2 Submitting the Final Documents
7.3 Review of the final documents
7.4 Completion of the final documents
7.5 D9: Final Documents
7.6 M9: Documentation Completed
7.7 M10: Project Closed
9. Project Budget
WBS Task Name Duration Resource Names Cost
0
Cloud
Implementation in
Cornerstone
Securities
276 days $500,000.00
1 Initialization 16 days $40,000.00
1.1
Analysis of
requirements
2 days Analyst $5,000.00
1.2
Listing the needs
for changing the
alignment of the
activities
2 days Analyst $5,000.00
1.3
Initiation
documents
2 days Documenter $5,000.00
© Alan Sixsmith 2018 Page 12
6.8 D8: Website Maintenance
6.9 M8: Website Maintenance Approval
7 Project Closure
7.1 Final Documents are made
7.2 Submitting the Final Documents
7.3 Review of the final documents
7.4 Completion of the final documents
7.5 D9: Final Documents
7.6 M9: Documentation Completed
7.7 M10: Project Closed
9. Project Budget
WBS Task Name Duration Resource Names Cost
0
Cloud
Implementation in
Cornerstone
Securities
276 days $500,000.00
1 Initialization 16 days $40,000.00
1.1
Analysis of
requirements
2 days Analyst $5,000.00
1.2
Listing the needs
for changing the
alignment of the
activities
2 days Analyst $5,000.00
1.3
Initiation
documents
2 days Documenter $5,000.00
© Alan Sixsmith 2018 Page 12
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