Software Project Management

We have received a new project to build a software for Wells Fargo Accounts Department. Wells Fargo is the largest Home Mortgage Bank in USA and they have both Financial and Mortgage Department. Here below are the business requirements from the accounting department.

Business Requirements:

The new system should be an end-to-end enterprise financial management solution designed to meet the needs of the most complex, multinational organizations. The ERP solution should be comprised of a robust set of applications that support all aspects of financial business activities and are listed below:

· Financial and management accounting: Financials provides core accounting and reporting capabilities with scalability to support the requirements of large multinational companies. Key features and functions include the following:

· Fixed asset, accrual, bank, cash journal, inventory, and tax accounting

· General ledger

· Accounts receivable and accounts payable AR/AP

· Fast close functions

· Financial statements

· Parallel valuations

· Financial supply chain management: The module should be a set of applications to help streamline receivables and collections management processes. These integrated solutions should help reduce operating costs and improve cash flow and reduce days' sales outstanding. The application should include the following application functionality:

· Credit management

· Biller direct

· Dispute management

· Collections management

· Treasury applications: The treasury applications should provide robust cash, liquidity, and financial risk management capabilities that enable you to more precisely manage cash, mitigate financial risks, and streamline bank interactions and payment processes. This application should contain the following application functionality:

· Cash and Liquidity Management

· Helps you monitor and manage cash flow and liquidity

· Generates comprehensive and timely cash forecasts and plans

· In-House Cash

· Enables centralized control of banking balances, cash management, and payments

· Reduces costs of inter unit payments, transfers, and bank fees

· Treasury and Risk Management

· Models risk scenarios and executes mitigation strategies

· Reduces your organization's financial risk levels and ensures regulatory compliance

· Bank Communication Management

· Streamlines and optimizes corporate-to-bank communications

· Provides straight-through processing, improved payment control, and lower processing costs

Agile Scrum Methodology:

The Agile is nothing but a movement proposes alternatives to Traditional Project Management. This methodology often called as Incremental model. In the Agile methodology, work is divided into chunk and developed in incremental and rapid cycles. The Agile team is usually small and consists of ten to fifteen people team. Daily they do have a meeting which is called scrum meeting where they discuss what they have done yesterday what they are going to do today, any issues or any road blocks. Each release has to be done within the sprint time frame. Agile team consists of Developers, Scrum Master, Project manager, Product Manager, Business Analyst and Quality Assurance Team. First Agile methodology starts with Sprint planning and they pull the tasks from the backlog. From Sprint planning, developers code the tasks in Development and then deploy into QA servers to test their code. After peer review from the QA team scrum master submit release and ISS team deploy to the production servers and at the end Product owner give a demo to the client.

Diagram Of Agile Model:

Advantages of Agile Methodology:

Here below are the advantages of using Agile methodology.

- Meets the customer or client satisfaction by giving continuous them delivery of useful software.

- Users and team interactions are emphasized rather than process and tools. The whole team including managers, scrum master, Developers team and QA team interact with each other on daily basis.

- Each component or functionality is delivered within weeks rather than months.

- Since the whole team interacts with each other so the communication is the key to success.

- Daily communications between developers and business users.

- Good attention to the software design and technical excellence.

- Change of business requirements are welcome at the last moment.

Disadvantages Of Agile Methodology:

- When new changes needs to be implement in the software. The freedom agile gives to change is very important. New changes can be made implemented at very little cost because of the frequency of new increments that are produced.

- When new changes needs to be made then developers and Quality Assurance team has very little time to code and release it. Sometime, they only have few hours to make changes and implement the changes.

- Unlike the waterfall or any other methodology, in agile model team has very little time to do sprint planning.

- Suddenly changes of the business requirements can effect testing and software can be released with a bug.

References:

http://istqbexamcertification.com/what-is-agile-model-advantages-disadvantages-and-when-to-use-it/

http://agilemethodology.org/

https://www.cprime.com/resources/what-is-agile-what-is-scrum/