Revised Project Proposal

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PROJECT MANAGEMENT

Initial Project Proposal

Ana Trujillo

Professor Hazar Amino

July 26, 2020

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The Cassiopeia Project will entail developing an online platform for a bank that will

support customer self-service as well as harbor mobile phone applications on both android and

the IOS for the apple phones. Currently the bank operates with 44 branches and the and a recent

survey indicated that over 80 percent of the companies they serve have shifted financial services

to an online platform. Additionally, branch visits by the customers have been reducing and to

retain their competitive edge in the market there was seen need to shift a huge part of their

services to an online platform.

The main goal of the Cassiopeia Project is to shift financial transactions of the bank to an

online platform thus build the capacity to make banking transactions through the internet. This

will include the use of both mobile phone applications and the web applications. Bank customers

will be required to download and install the banking applications. The customers who will be

shifted entirely to an online banking system will need to have a bank card.

The secondary goal of the Cassiopeia Project is to reduce the services offered by the bank

branches in phases and eventually phase out the bank branches. This will cut on expenses of

running the branches as well as managing banking staff. In the recent past, the bank has been

reducing its staff in the bank branches owing to the reducing number of customers visiting the

bank.

In the current age of information technology advancement, there is need for business to

remain relevant by employing technology in its operations. The objective of the transition is to

ease the process of financial transactions for its customers as well as reduce paperwork and

eventual shifting of the bank into a digital platform. Also, this will increase banking convenience

for the banking service will be available to its customers anytime, anywhere in the world. The

time of conducting these transactions will also be largely reduced, consequently augmenting

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efficiency in the banking sector. This will increase the competitive edge of the bank in the

financial industry.

The second objective of the Cassiopeia Project is to optimize distribution. Again, owing

to the advancing trends in technology, businesses are increasingly shifting to digital platforms.

This includes the use of social media platforms and incorporating of business computers with

personal devices. Building a system with rich user experience that supports these activities will

the customer experience, and eventual customer satisfaction. However, this will need increased

cyber security, which is a secondary objective to the project.

The required modules will be the web application, the android mobile application and the

iOS mobile application. The whole system is to harbor all financial transactions including but not

limited to account monitoring, funds transfer, money markets, loan and credit transactions. The

other resources necessary will be the development environment software, both for web

development and mobile application development. Also, the developers will need computers,

internet connectivity and cloud space both for the applications and for development purposes.

The line and staff project management structure will be employed. The structure will be

led by the overall project manager under whom there will be the financial advisor, who will

oversee financial matters, the technical advisor, the production manager, the economic advisor

and the deputy project manager. The production manager will control research and development

team, the system engineering team, the technical experts and the industrial engineer. The

industrial engineer will work in liaison with the bank customers so as to develop a customer

tailored system. The gained insights from the liaison will be shared with the research and

develop team, who will work with the other teams in the designing and the development of the

online banking system.

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The whole project will take nine months. The project stages will be as listed.

1. system analysis

2. system design

3. programming

4. testing

5. implementation

6. Maintenance and innovation

STAKEHOLDER INVESTMENT

1. The bank customers

2. The employees

3. The shareholders

4. The project development team

5. The legal team

LIMITATIONS

The main limitation tot the project is the rigidity of the bank, that currently runs on a

centralized system. Secondly, each bank branch has its own customer base, and hence the survey

to establish customer tailoring will be expensive. These limitations will take time to overcome,

hence the project development will be delayed during its young age.

CONCLUSION

The trends in information technology has had imperative role in all sectors of the

economy, and the banking sector has not been left behind. It has diversified the banking services

through development of sophisticated banking infrastructure, both in the marketing and the

operations sector. The Cassiopeia Project aims to employ technology in the improvement of the

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banking sector, and to help shift the bank into an online platform. The project will reduce

operations cost, increase customer satisfaction and increase revenue generation.

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SOURCES

1. Alhabash, Saleem, Mengtian Jiang, Brandon Brooks, Nora J. Rifon, Robert LaRose, and

Shelia R. Cotten. "Online banking for the ages: Generational differences in institutional

and system trust." Communication and Information Technologies Annual 10 (2015): 145-

171.