Critical Analysis Of The Project Management Plan For Developing A Customized Finance Application

Role of Project Management Plan in Implementing Activities

The role of project management plan holds an integral role in the deployment of the effective implementation of the activities favouring the alignment of the improved project development. The analysis would also help in listing the analysis of the improved operation development. The analysis had covered the impact of the using the implementation of the successful implementation of the operations for favouring the alignment of effective implication of the operations favouring finance application development. The deployment of the operations would also form the successive analysis of the activities.

The project is titled ‘Developing a customized finance application’ and it is developed for forming the effective utilization of the operations so that the customized finance application can be developed. It would allow the implication of the successive development operations for forming the utilization of the improved operations. The customized finance application development would help in forming the speculation of the activities for forming the utilization of the activities. The application would ease the processes of forming the utilization of the activities supporting the alignment of the operations. The deployment of the activities had helped in listing the alignment of the activities so that effective implication of the operations can be formed. The completion of the project would be based on the use of effective IT project management.

The software project management plan (SPMP) has seen considerable growth with the advent of technological development. The implication of the technology innovation had helped in forming improved services for the completion of the project plan. The IT projects have considered the implication of the project management principles that are being implied for forming the utilization of the existing operations. The development of the activities has also resulted for forming the implication of the effective plan of operations.

Organizational Chart

The project of ‘Developing a customized finance application’ is an IT project developed for easing the implication of the effective operation development. The development of the final project deliverable would be dependent on the implication of the effective plan and operations. The organizational chart comprises of engineering management department, procurement management, project controls, and administration department. The organizational chart comprises of engineer managers, logistic board, contractors, planning department, estimation department, legal department, HR department, accounting and tax department, and cost reporting department. The project has the following organizational structure,

Figure 1: Organizational Structure of Project

The project of ‘Developing a customized finance application’ has the responsibility of developing the final customized finance application developed for the organization as the final deliverable for the project. The stakeholders of the project has the following responsibilities,

Human Resources	Responsibilities
Analyst	Analysis of requirements
Documenter	Developing proper initiation documents
	Documents are submitted
	Reports are made
Project Manager	Resource Accumulation
	Outline of the plan is reviewed
	Documents are signed off
	Project progress is checked
Planner	Plan outline is developed
	Plan modification
	Plan is Completed
	Formation of implementation plan
Designer	Platform for design is selected
	Design Structure is made
	Design is completed
Tester	Simulation Testing
	Beta Testing
	White Box Testing
Database Developer	Integrated Database is developed
IT Engineer	Development of UI
	Integrated Application is developed
	Application function is listed
	Planning of maintenance
	Inspecting the application development
Programmer	Programming the functions
Trainer	Staff training is done

Impact of Technology Innovation in Project Management

Management Objectives and Priorities

The management objective of implementing the project of ‘Developing a customized finance application’ is implied for the development of the effective implementation of the operations and development of the smart functions. The project is implied for the alignment of the IT management operations for forming the development of the improved operational development. The alignment of the project plan would result in forming the major factors of forming the application with the implementation of IT project principles. The management objectives and highest priority of the project is the development of effective plan of operations supporting the implication of the activities favoring the management of financial operations. The alignment of the project management with the objectives of the project would result in supporting the implication of the successful project operations.

The completion of the project of ‘Developing a customized finance application’ in the estimated time and duration, availability of the resources, and teamwork are the assumptions of the project. The project depends on the estimated budget, deadline for the project deliverable, and technological knowledge of the human resources. The development of the final customized finance application is a major factor for developing the final project deliverable is the primary priority for the project.

Probability Matrix

	Impact
Trivial	Minor	Moderate	Major	Extreme
Probability	Rare
Unlikely
Moderate				Shortage of resources
Likely					Deisgn Flaws
Very Likely		Violation of Schedule

Risk Name	Response Strategy	Risk Response Plan
Design Flaws	Transfer	External expert should be contacted
Shortage of resources	Accept	Provisional budget should be made
Violation of schedule	Mitigate	Project Crashing should be done

Risk Name	Risk Type	Probability	Impact	Mitigation
Design Flaws	Technical	Likely	Extreme	External expert should be contacted
Shortage of resources	Financial	Moderate	Major	Provisional budget should be made
Violation of schedule	Operational	Very Likely	Minor	Project Crashing should be done

Scope of the Project

The project scopes for the utilization of the project management concepts for developing the customized finance application for the organization. A number of works fall under the scope of the project namely, platform for design is selected, design is completed, integrated database is developed, development of UI, Programming the functions, beta testing, white box testing, integrated application is developed, system development completed, formation of implementation plan, application function is listed, planning of maintenance, staff training is done, reports are made, and closure of the project.

The work break down structure for the project of ‘Developing a customized finance application’ is shown below,

Figure 2: Work breakdown structure

Work Packages

The project of ‘Developing a customized finance application’ involves the use of 6 work packages effectively for implementing the final project deliverable namely initial phase, plan phase, design phase, system development, system implementation, and closing phase. These phases act as an individual work packages that are required for the completion before achievement of the final deliverable.

Initial Phase: The initial phase would be formed for initiating the project activities and it includes analysis of requirements, developing proper initiation documents, resource accumulation, documents are submitted, and project kick off.

Organizational Structure and Stakeholder Responsibilities

Plan Phase: The plan phase would be formed for developing a project plan with the project activities and it includes plan outline is developed, outline of the plan is reviewed, plan modification, plan is completed, and approval of plan.

Design Phase: The design phase would be formed for forming the design of the customized financial application and it includes platform for design is selected, design structure is made, simulation testing, design is completed, and approval of design.

System Development: The system development would be formed for developing the customized finance application and it includes integrated database is developed, development of UI, programming the functions, beta testing, white box testing, integrated application is developed, and system development completed.

System Implementation: The system implementation would be formed for implementing the customized finance application and it includes formation of implementation plan, application function is listed, planning of maintenance, staff training is done, and system implementation completed.

Closing Phase: The closing phase would be formed for finalizing the project closure with the achievement of the final deliverable and it includes project progress is checked, reports are made, documents are signed off, inspecting the application development, and closure of the project

The schedule for the project of project of ‘Developing a customized finance application’ is given below,

WBS	Task Name	Duration	Start	Finish	Predecessors
0	Developing a customized finance application	100 days	Mon 6/4/18	Fri 10/19/18
1	Initial Phase	11 days	Mon 6/4/18	Mon 6/18/18
1.1	Analysis of requirements	3 days	Mon 6/4/18	Wed 6/6/18
1.2	Developing proper initiation documents	2 days	Thu 6/7/18	Fri 6/8/18	2
1.3	Resource Accumulation	5 days	Mon 6/11/18	Fri 6/15/18	3
1.4	Documents are submitted	1 day	Mon 6/18/18	Mon 6/18/18	4
1.5	Project Kick off	0 days	Mon 6/18/18	Mon 6/18/18	5
2	Plan Phase	12 days	Tue 6/19/18	Wed 7/4/18
2.1	Plan outline is developed	3 days	Tue 6/19/18	Thu 6/21/18	6
2.2	Outline of the plan is reviewed	2 days	Fri 6/22/18	Mon 6/25/18	8
2.3	Plan modification	2 days	Tue 6/26/18	Wed 6/27/18	9
2.4	Plan is Completed	5 days	Thu 6/28/18	Wed 7/4/18	10
2.5	Approval of plan	0 days	Wed 7/4/18	Wed 7/4/18	11
3	Design Phase	11 days	Thu 7/5/18	Thu 7/19/18
3.1	Platform for design is selected	1 day	Thu 7/5/18	Thu 7/5/18	12
3.2	Design Structure is made	3 days	Fri 7/6/18	Tue 7/10/18	14
3.3	Simulation Testing	2 days	Wed 7/11/18	Thu 7/12/18	15
3.4	Design is completed	5 days	Fri 7/13/18	Thu 7/19/18	16
3.5	Approval of design	0 days	Thu 7/19/18	Thu 7/19/18	17
4	System Development	40 days	Fri 7/20/18	Thu 9/13/18
4.1	Integrated Database is developed	7 days	Fri 7/20/18	Mon 7/30/18	18
4.2	Development of UI	6 days	Tue 7/31/18	Tue 8/7/18	20
4.3	Programming the functions	8 days	Wed 8/8/18	Fri 8/17/18	21
4.4	Beta Testing	5 days	Mon 8/20/18	Fri 8/24/18	22
4.5	White Box Testing	4 days	Mon 8/27/18	Thu 8/30/18	23
4.6	Integrated Application is developed	10 days	Fri 8/31/18	Thu 9/13/18	24
4.7	System Development Completed	0 days	Thu 9/13/18	Thu 9/13/18	25
5	System Implementation	17 days	Fri 9/14/18	Mon 10/8/18
5.1	Formation of implementation plan	3 days	Fri 9/14/18	Tue 9/18/18	26
5.2	Application function is listed	2 days	Wed 9/19/18	Thu 9/20/18	28
5.3	Planning of maintenance	2 days	Fri 9/21/18	Mon 9/24/18	29
5.4	Staff training is done	10 days	Tue 9/25/18	Mon 10/8/18	30
5.5	System Implementation Completed	0 days	Mon 10/8/18	Mon 10/8/18	31
6	Closing Phase	9 days	Tue 10/9/18	Fri 10/19/18
6.1	Project progress is checked	3 days	Tue 10/9/18	Thu 10/11/18	32
6.2	Reports are made	2 days	Fri 10/12/18	Mon 10/15/18	34
6.3	Documents are signed off	1 day	Tue 10/16/18	Tue 10/16/18	35
6.4	Inspecting the application development	3 days	Wed 10/17/18	Fri 10/19/18	36
6.5	Closure of the project	0 days	Fri 10/19/18	Fri 10/19/18	37

The resources for the project of ‘Developing a customized finance application’ are analyst, documenter, project manager, planner, designer, tester, database developer, IT engineer, programmer, and trainer as human resources and documents, design tools, simulation tools, database, UI program, programming tools, testing tools, application development, and training manuals as material resources.

Detailed Budget Information

The detailed budget information for the project of ‘Developing a customized finance application’ is shown in the table below,

Resource Name	Duration/units	Standard Rate	Total
Analyst	24	$30.00	$720.00
Documenter	40	$35.00	$1,400.00
Project Manager	88	$75.00	$6,600.00
Planner	104	$40.00	$4,160.00
Designer	72	$55.00	$3,960.00
Tester	88	$50.00	$4,400.00
Database Developer	56	$60.00	$3,360.00
IT Engineer	184	$70.00	$12,880.00
Programmer	64	$65.00	$4,160.00
Trainer	80	$45.00	$3,600.00
Documents	2	$100.00	$200.00
Design Tools	2	$400.00	$800.00
Simulation Tools	1	$300.00	$300.00
Database	1	$700.00	$700.00
UI program	1	$500.00	$500.00
Programming Tools	1	$550.00	$550.00
Testing tools	2	$230.00	$460.00
Application Development	1	$600.00	$600.00
Training Manuals	1	$650.00	$650.00
Total Budget	$50,000.00

The monetary budget for the project is $50,000 and it would be helpful for development of the effective operation development. The human resources would exhaust the $54,000.00 and the material resources would exhaust $5,600.00 sum of money. The following diagram would show the resource usage of the project

Figure 3: Cost Bdugdet for the project

Conclusion

The following assignment had been made on the topic of ‘Developing a customized finance application’ and the completion of the project had delivered an application supporting the effective financial operations. The assignment had studied the implication of the project management plan development, implication of project responsibilities for stakeholders, risk management plan, The analysis of the operations would allow the synthetic development of the cost management and schedule development of the operations.

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