This is the second of three assignments that, as a whole, will cover all aspects of the project life cycle relevant to your selected project.
Assume that your project sponsor has reviewed the project proposal and has asked that you make some changes to it. For the purposes of this assignment, consider your professor’s feedback to be your project sponsor’s review comments.
Write a 4–6 page paper in which you:
- Provide a brief summary of your project.
- Update the goals and objectives based upon your project sponsor’s feedback, and add two more goals and objectives. (Use your professor’s feedback to update your goals and objectives.)
- Describe at least three key milestones and/or deliverables for your project.
- Describe a high-level timeline that includes key tasks and deadlines.
- Estimate the project’s overall cost and any key staffing and non-staffing resources needed.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
- Revise a project plan so that it clarifies objectives, specifies deliverables, timelines, and costs, and aligns with stakeholder needs.
PLEASE USE ATTACHED INITIAL PROJECT PROPOSAL FOR REFERENCE.
Initial Project Proposal
Professor Hazar Amino
July 26, 2020
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
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
efficiency in the banking sector. This will increase the competitive edge of the bank in the
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.HAZAR AMINOThis is a Dedicated structure, edit for assignment 2
The whole project will take nine months. The project stages will be as listed.
1. system analysis
2. system design
6. Maintenance and innovation
1. The bank customers
2. The employees
3. The shareholders
4. The project development team
5. The legal team
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.
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
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.
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-