Project Management: Analysis of Trading Storage for Computation

This project management assignment explores the concept of trading storage for computation, focusing on its benefits in maximizing efficiency and reducing costs associated with data storage and retrieval. The project delves into the limitations of traditional programming paradigms and highl...Read More

Running head: PROJECT MANAGEMENT
Topic- Trading storage for Computation
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Title........................................................................................................................................2
1.1 Project Blog......................................................................................................................2
2. Rationale................................................................................................................................3
2.1 Problem domain...............................................................................................................3
2.2 Purpose and justification..................................................................................................3
3. Sponsor or supervisor recommendation.................................................................................4
4. Research questions.................................................................................................................4
5. Conceptual or theoretical Framework....................................................................................4
6. Methodology..........................................................................................................................6
6.1 Research and system development method......................................................................6
6.2 Data collection or system design methods.......................................................................6
6.3 Ethical issues....................................................................................................................7
6.4 Compliance requirements.................................................................................................7
6.5 Data analysis....................................................................................................................7
7. Project plan.............................................................................................................................8
7.1 Deliverables......................................................................................................................8
7.2 Work breakdown Structure..............................................................................................8
7.3 Risk analysis.....................................................................................................................9
7.4 Duration..........................................................................................................................10
7.5 Gantt chart......................................................................................................................14
References................................................................................................................................15

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1. Title
1.1 Project Blog
Trading Storage for Computation is generally needed for calculating results for
maximizing efficiency. It is seen that traditionally computing is used for calculating the
results and they store it so that the data can be used later however storing data commits large
volumes of storage thus consumes both space as well as energy by making it one of the
expensive strategy. However, with the development in innovation and technology, cloud
computing is considered as one of the technology that is easily available as well as flexibly
allocated for various types of computing resources that further helps in suggesting that cloud
computing assists in re-computing results whenever it is required. I have analyzed that both
the computation as well as storage are equivalent that further assists in finding the balance
that exists for enhancing the efficiency that is quite difficult. I have analyzed that the
fundamental challenge of this issue mainly occurs within the knowledge gap that separates
both the users as well as the cloud administrators. As users have proper sematic
understanding about their data and on the other hand, administration of proper understanding
about the underlying structure of the cloud is totally different. In order to resolve the issues
and for detailing both the user and system knowledge it is needed to construct the
comprehensive cost model so that the users can focus on the development of Trading Storage
for Computation. I have analyzed that the basic relationship that exists for governing the
results of the computation can generally be expressed with the help of three entity model. The
computation is considered to be properly rooted in one or more inputs which can be the result
of the previous computation. This type of inputs is generally found to be acted upon and
helps in transforming the entire procedure and the results of that procedure is considered as
an output. Additionally, I have analyzed that within a traditional model of computing, the
entire results are stored for future utilization. In contrast to this, it is found that cloud

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computing holistic view that is associated with computing as well as storage is mainly suited
for intelligently selecting the results to store so that it can be recomputed when needed. The
efficiency that is gained from this approach can be likened for file compression which helps
in trading computation costs for the storage efficiency. I have identified that development of
Trading Storage for Computation reflects that it generally assists in cutting the costs and time
that is needed for calculating, storing as well as retrieving data and thus it assists in
increasing the efficiency. Moreover, it is identified that the efficiency of calculation increases
by developing the Trading storage for computation when it is desirable to recompute the
results as opposed to the procedure of storing the results of calculation for future use.
2. Rationale
2.1 Problem domain
It is found that standard programming paradigm is used so far for calculating, storing
as well as retrieving data. However, development of cloud computing assists in providing
flexible allocation of various computing resources and thus the rise of cloud computing
technology assists in rendering the paradigm inefficient. This is mainly due to the storage of
large volumes of data that are used rarely that further assists in making this paradigm very
much expensive. It is found that while computation as well as storage are equivalent, it is
very much difficult to find the balance for maximizing the efficiency.
2.2 Purpose and justification
It is found that the utilization of standard programming paradigm for storing data
creates lots of challenges and issues. In order to resolve this issue, trading storage are
required to be developed for computation so that they can be able to flexibly allocate all the
computing resources and will generally suggests proper alternative for storing the provenance
of data. The main advantage of utilizing the trading storage is to reflect the possibility of

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creating impact on the total costs as well as re-computation time that is mainly associated
with re-computing.
3. Sponsor or supervisor recommendation
The development of the trading storage for computation is mainly suggested with the
help of various multinational companies for resolving the problem that they generally face
due to the utilization of standard programming paradigm for calculating, storing as well as
retrieving data. It is found that the development of trading storage not only helps in resolving
the issue but also assists in proper storage of data in a very much cost-effective manner.
4. Research questions
The research questions that are associated with the project are reflected below:
 How trading storage for computation is useful for the business organizations?
 How the cloud computing technology is advantageous in mitigating the issue that
is created by the standard programming paradigm?
 What are steps that are required to be followed by the business organizations for
developing trading storage for computation?
5. Conceptual or theoretical Framework
According to Lebjioui, Eckert and Earl (2016) in traditional computing, storage is
mainly utilized for holding the results of computation. In the simple model, where the final
computation state is preserved, the results are simply read from the storage each time they are
generally required. It is found that it not only stores a result but it is more much more
efficient for storing the provenance of data as well as input for processing along with proper
means of recalculating the entire result if it is generally required. On the other hand, Egan &
Cagan, (2016), stated that recomputation is mainly defined as a replacement of storage that

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generally fits well into the holistic model of computing that is mainly described into the
architecture of cloud. It is found that cloud computing mainly aims to abstract always all the
details that are associated with the underlying infrastructure. In addition to this, it is identified
that in both private and public clouds, the users are mainly encouraged for thinking in terms
of service not structure.
It is opined by Bertoni, Chowdhery and Bellini (2018) that while the decision between
the computation as well as storage properly appears in a very much cost-effective trade-off,
there are number of issues and challenges that needs to be consider. A system generally aims
to enable computation which further require additional meta data as well as performance
facilities for ensuring that all the re-computation methods are generally known and the result
regeneration are generally successful (Babaei & Mollayi, 2016). It is very much important to
understand the factors that helps in determining when it is very much sufficient for re-
computing the results as opposed to storing it including the likelihood of reuse as well as
various types of potential penalties if the data is not unavailable. It generally needs both the
system knowledge as well as user in order to understand the factors as understanding this
factor helps in ensuring that the decision maker generally have all types of information that is
generally needed for making proper informed decision.
The basic relationship that generally governs the results computation can be generally
expressed with the help of three entity model. It is found that the computation is mainly
rooted within one more input which generally can be the results for the computation that is
done previously. These types of inputs are generally not transformed with the help of process
and the output of that procedure is considered to be the result. It is stated by Watson and
Kaldor (2015) that cloud computing provides holistic view of storage as well as computation
that is quite suited for selecting which results to store and which one to recompute as
required. The efficiency generally helps in gaining the approach that can be likened to the

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compression of file that helps in trading some computation costs for enhancing the storage
computation.
According to Kaldor and Watson (2015), the first step that helps in determining the
desirability of re-computing the results as opposed to storing them reflects that that it is very
much significant to understand the conditions that helps in making re-computation very much
possible. It is identified that the inputs that are being stored by regenerating results then it is
found that the corresponding procedure is needed (Babaei & Mollayi, 2016). This is
considered to be true for results that are strict constraints of integrity. If the entire procedure
is stored as well as reused then there are number of types of requirements that are generally
needed to be met.
6. Methodology
6.1 Research and system development method
It is identified that the project utilizes agile development methodology in order to
develop the trading storage for computation. It is found that the agile methodology is mainly
utilized for supporting continuous as well as rapid development of the Trading storage
(Spundak, 2014). It is found that the agile methodology not only helps in developing the
trading storage but also assists in enhancing the quality of the project, customer satisfaction,
enhancing project control as well as assists in reducing the risks that are associated with the
project. Additionally, it is found that the utilization of agile methodology helps in adopting
the changing circumstances and therefore it generally serves the customers with proper
technique of project delivery.
6.2 Data collection or system design methods
It is found that the paper uses secondary method of data collection for collecting
information that are mainly related with the development of Trading storage. It is found that

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the researcher reviews number of journal articles, eBooks as well as other types of published
papers in order to gather information that is mainly required for the development of the
Trading Storage.
6.3 Ethical issues
The different types of ethical issues that generally can occur during the development
of the trading storage is provided below:
 Pressurizing the project workers for working after their shift timing so that they can
be able to complete the research.
 Carelessness of the employees of the organization for managing the information as
well as confidential data.
6.4 Compliance requirements
It is found that the organization must follow proper occupational health and safety
acts in order to work properly within the organizational environment so that the Trading
Storage for computation can be developed properly within the organization. It generally
assists in minimizing the chances of accidents that generally occur within the workplace and
further helps in reducing the chances of injuries.
6.5 Data analysis
After the development of the Trading storage for computation it is found that 80% of
the organizations that uses Trading storage instead of programming paradigm has able to
maximize their efficiency of storing, retrieving as well as computing data. The utilization of
Trading storage for computation not only improves the efficiency but also assists in making
the procedure of storing data quite cost effective so that the organizations can easily afford it
without facing much problem.

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7. Project plan
7.1 Deliverables
The deliverables of the project are as follows:
 Development of cloud-based trading system for storage
 Developing proper trading routine
 Selection of right trading tools for the project
 Proper trade management
 Understanding money and risk management
 Development of profitable mindset
 Proper strategies for trading
7.2 Work breakdown Structure
Figure 1: Work breakdown Structure

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(Source: Created by Author)
7.3 Risk analysis
Risk Description Impact Probability Mitigation
Lack of budget Due to absence
of proper
budget, the
project manager
faces difficulty
in completing
the work of the
project within
the expected
budget and
time.
High High It is very much
necessary for
the project
manager to
undertake
earned value
analysis in order
to make sure
that the
estimated
budget is
appropriate for
the execution of
the project.
Technological
risk
Due to
improper
programming,
the project
manager faces
lot of issues and
challenges in
developing the
High Medium It is very much
necessary to
hire
experienced
programmer so
that they can
code properly
for successful

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trading storage
for
computation.
development of
the project.
Slippage of
project schedule
If the schedule
of the project is
not managed
while
development of
the trading
storage for
computation
then it will be
quite difficult to
finish the entire
project work
within the
expected budget
and time.
High High It is very much
necessary to
manage the
schedule of the
project quite
effectively so
that it can get
completed
within the
expected time
and budget
without creating
any challenges.
7.4 Duration
The duration of the project for developing the Trading Storage for Computation is
provided in the table below:
WBS Task Name Duration Start Finish
0
Development of trading storage for
computation
32 days
Mon 06-08-
18
Tue 18-09-
18
1 Initiation phase 9 days Mon 06-08- Thu 16-08-

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18 18
1.1 Development of business case 3 days
Mon 06-08-
18
Wed 08-08-
18
1.2 Undertaking feasibility study 2 days
Thu 09-08-
18
Fri 10-08-18
1.3 Establishing project charter 3 days
Mon 13-08-
18
Wed 15-08-
18
1.4
Appointing team members of the
project
4 days
Mon 13-08-
18
Thu 16-08-
18
1.5
Milestone 1: Completion of project
initiation phase
0 days
Wed 15-08-
18
Wed 15-08-
18
2 Planning phase 10 days
Thu 16-08-
18
Wed 29-08-
18
2.1 Creation of project plan 3 days
Thu 16-08-
18
Mon 20-08-
18
2.2 Development of resource plan 2 days
Thu 16-08-
18
Fri 17-08-18
2.3 Creating financial plan 3 days
Tue 21-08-
18
Thu 23-08-
18
2.4 Creating development plan 2 days
Tue 21-08-
18
Wed 22-08-
18
2.5 Developing quality plan 3 days
Mon 20-08-
18
Wed 22-08-
18
2.6 Developing risk management plan 4 days Fri 24-08-18 Wed 29-08-

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18
2.7 creation of communication plan 3 days Fri 24-08-18
Tue 28-08-
18
2.8
Milestone 2: Completion of planning
phase
0 days
Wed 22-08-
18
Wed 22-08-
18
3 Execution phase 16 days
Thu 23-08-
18
Thu 13-09-
18
3.1
Development of cloud-based trading
system for storage
6 days
Thu 23-08-
18
Thu 30-08-
18
3.2 Developing proper trading routine 5 days
Thu 23-08-
18
Wed 29-08-
18
3.3
Selection of right trading tools for the
project
6 days Fri 31-08-18 Fri 07-09-18
3.4 Proper trade management 5 days
Thu 30-08-
18
Wed 05-09-
18
3.5
Understanding money and risk
management
7 days
Thu 30-08-
18
Fri 07-09-18
3.6 Development of profitable mindset 4 days
Mon 10-09-
18
Thu 13-09-
18
3.7 Proper strategies for trading 5 days
Thu 06-09-
18
Wed 12-09-
18
3.8
Milestone 3: Completion of execution
phase
0 days
Thu 13-09-
18
Thu 13-09-
18
4 Closure phase 3 days Fri 14-09-18 Tue 18-09-

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18
4.1 Post project review 2 days Fri 14-09-18
Mon 17-09-
18
4.2 Stakeholder sign off 1 day Fri 14-09-18 Fri 14-09-18
4.3 Documentation 1 day
Tue 18-09-
18
Tue 18-09-
18
4.4
Milestone 4: Completion of closure
phase
0 days Fri 14-09-18 Fri 14-09-18

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7.5 Gantt chart
Figure 2: Gantt chart
(Source: Created by Author)

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References
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frames using NSGA-II algorithm. Engineering Structures and Technologies, 8(4),
157-164.
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from the food packaging industry. In International Design Conference (DESIGN
2018), Dubrovnik (Vol. 1, pp. 161-170). The Design Society.
Clegg, C. W., Robinson, M. A., Davis, M. C., Bolton, L. E., Pieniazek, R. L., & McKay, A.
(2017). Applying organizational psychology as a design science: A method for
predicting malfunctions in socio-technical systems (PreMiSTS). Design Science, 3.
Egan, P., & Cagan, J. (2016). Human and computational approaches for design problem-
solving. In Experimental Design Research (pp. 187-205). Springer, Cham.
Hornstein, H. A. (2015). The integration of project management and organizational change
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291-298.
Joslin, R., & Müller, R. (2015). Relationships between a project management methodology
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Project Management, 33(6), 1377-1392.
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Lebjioui, S., Eckert, C. M., & Earl, C. (2016). Understanding the relationship between design
margins and trade-offs.
McMAHON, C. (2014). Design research: current status and future challenges. In The 3rd
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Spundak, M. (2014). Mixed agile/traditional project management methodology–reality or
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