The Cassiopeia Project entails the transitioning of the banking system from a partially digital platform to a fully digital platform. This will entail the designing, and development and installation of a fully automated customer self-service platform. The customers will access the built platform on three end points; their android devices, iOS devices and through the web. However, will be required to apply for a bank card. the card will be used as a key component in shifting the customers. All financial transactions, between the bank and individual customers; the bank and business and corporations’ accounts; the bank and other banks as well as the bank and the central bank will be done through the platform. The finalization of the project will see the closure of 75% of the 44 bank branches throughout the country. The remaining 25% of the bank branches will be strategically placed to address major issues that may require office attention. Conversely, the number of employees in the branches will be precipitously reduced.
Information technology has transformed the world into a dynamic and progressive economy, and the finance and banking sector has not lagged behind in this progression. The introduction and vast employment of computers in the banking sector tremendously improved the accuracy, efficiency and promptness of all banking activities. The E-banking conceptualization has the potential of pushing these advantages higher through augmentation of all customer and banking relationships using computerized systems and electronic devices. The Cassiopeia Project main objective is to transform the bank into a well-managed e-banking platform.
The objectives of the Cassiopeia Project can be defined in two perspectives; the perspective of the bank as well as that of the customers. The objectives of the project from the bank perspective are; provision of retail services and cost reduction through increased online bank networks; The e-banking platform will cut down on the managerial costs of the bank through reduction of bank branches and human resource as well as expansion of the bank services as digital platforms are not restricted by physical geography. The objective of the project form the customer perspective include reducing data and information access time for the customers. The costs of banking transactions will as well be reduced for the customers. The secondary objective is to increase the privacy and security of the customers’ accounts and financial data as the number of people reading the information is reduced greatly.
The primary goal of the project is to better customer satisfaction by creating a stable and advantageous online experience. This will be achieved through the shifting of the banking transactions and activities onto an online platform. This transition will also facilitate the increasing of the bank’s competitive advantage in the market. The bank aims to build a capacity for their customers in using personal devices, particularly mobile phones and personal laptops, to access and their banking accounts and perform the necessary transactions. This will simplify the transactions, as well as enable the use of mobile phone numbers in making the transactions. The secondary goal of the Cassiopeia Project is to build a foundation for future developments in mobile banking.
KEY MILESTONES FOR THE CASSIOPEIA PROJECT
The progression of the Cassiopeia Project will be monitored by the Project Manager in liaison with the Bank Management. These intermediate stages of the project are defined alongside the design and development life cycle of the different software modules. The modules will involve the main banking system software, the communication network, the delivery channel and the switching system. Since most of the modules design and development will run in parallel, each module has its demarcated checkpoints to monitor the progress of the whole project.
The high priority tasks are expounded for each module, using a priority matrix. The banking system software high priority tasks forming system analysis report of the current system, so as to build a compatible software; and the determination of the determination of the how the teams will relate since the agile software development model will be employed. The priority tasks for the delivery channel will be the identification of the delivery channel and the communication of the channel management for the necessary legislation. The switching system module’s main priority task will be the design of the server architectures by the cloud engineers.
However, as the above remain checkpoints for the subtasks of the Cassiopeia Project, there will be need to for milestones of the whole project to be identified. These will include publishing of system analysis reports. This will be the initial main task of the project, and only when they are published will the system designing be initialized. The second milestone will be publishing of the system architecture reports by the system design team. Afterwards, the development team will begin the system development and at the end of each module, the lines of code will be published and the module tested. The testing of each module will be a milestone checkpoint for the Cassiopeia Project. The other milestones include testing of the whole software and its subsequent installation.
PROJECT TIMELINES AND COST ESTIMATION
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PROJECT STAFFING.
The staffing for the project will be done using a number of plans, including
1. Skills Matrix: this will be done to ensure all the human resource are employed with regard to their skills and the required job
2. Resource matrix: this will be used to determine the resource necessary for each task and subtasks. Also, it will allow a manageable sharing of the available resources.
3. Resource deployment matrix: this will be used alongside the resource matrix to aid in the handling of the available resources
4. Resource and risk management: monitoring resources during the project and ascertaining possible risks will help in determining the resources needed to face/evade the risks and hence determine emerging staffing issues.
5. Determination of the man hours will help compute the number of human resource necessary for carrying out the project tasks and activities.
References:
1. Ghane, K. (2017, June). Quantitative planning and risk management of Agile Software Development. In 2017 IEEE Technology & Engineering Management Conference (TEMSCON) (pp. 109-112). IEEE.
2. Meredith, J. R., Shafer, S. M., & Mantel Jr, S. J. (2017). Project Management: A Strategic Managerial Approach. John Wiley & Sons.
3. Kerzner, H. (2019). Using the project management maturity model: strategic planning for project management. John Wiley & Sons.
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ENTER START DATE:
9/9/2020
ACTIVITYSTARTENDNOTESESTIMATED COST
Project Start9/12/2020PROBLEM DEFINITION $ 300,000.000
SYSTEM ANALYSIS 9/22/202010/6/2020COMPATIBILITY ANALYSIS OF CURRENT AND PROPOSED PLATFORMS $ 500,000.000
ANALYSIS OF PROPOSED
SOLUTIONS
10/7/202010/10/2020
ANALYSING BEST ALTERNATIVE TO BUILDING CASSAIOPEIA DIGITAL
PLATFORM
$ -
DESIGNING THE WEB INTERFACE10/27/20201/4/2021DESIGNING THE WEBSITE $ 4,000,000.000
DEVELOPING THE WEB
INTERFACE
12/26/20203/26/2021DEVELOPMENT OF THE WEB. RUNS ALONGSIDE THE DESIGNING $ 600,000.000
DELIVERY CHANNEL
INTEGRATION AND
COMMUNICATION NETWORK
3/26/20214/16/2021
DEFINITION AND INTEGRATION OF THE DELIVERY CHANNEL AND THE
COMMUNICATION NETWORK
$ 300,000.000
WEB INTEGRATION 3/26/20215/5/2021
INTEGRATION OF WEB INTERFACE, DELIVERY CHANNELS AND
COMMUNICATION NETWORKS
$ 300,000.000
TESTING OF WEB INTERFACE,
DELIVERY CHANNEL AND
COMMUNICATION NETWORK
5/5/20215/19/2021INITIAL TESTING $ 500,000.000
ANDROID APP DEVELOPMENT5/15/20219/12/2021DEVELOPMENT AND INTEGRATION OF THE ANDROID APP $ 2,000,000.000
IOS APP DEVELOPMENT 7/14/202111/11/2021DEVELOPMENT AND INTEGRATION OF THE IOS APP $ 2,000,000.000
MOBILE APP INTEGRATION AND
TESTING
8/4/20218/6/2021SECOND TESTING $ 700,000.000
FINAL INTEGRATION11/21/202112/5/2021FINAL TESTING $ 1,600,000.000
EMPLOYEE TRAINING 12/12/202112/26/2021CUSTOMER AND HUMAN RESOURCE AWARENESS AND TRAINING $ 500,000.000
Project End12/22/2021 $ -
TOTAL ESTIMATED COST $ 13,300,000.000
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