PPMP20007 Project Management Concepts

The project aims at developing an online cash management market place for the Globex which shall help both seller and buyer of grains. The system shall be incorporating the online transactions management as well along with coming up with a website and mobile app so that it remains available from anywhere and at any time.

 Globex Corp wants to use iCorp – Online Cash Management
system to improve number of biddings and present a transparent platform for customers (Cooper and Sommer, 2018).

• Faster

Globex Corp wants to use the platform to allow easy access to domestic and export opportunities for customer from anywhere.

Appropriate Metric

Globex Corp will witness an 80% increase in online transactions by using new online cash management system along with creation of preferred buyer list.

Time Frame for achieving MOV

After the implementation of proposed system, Virtucon estimates that aroundd 9 month shall be taken to achieve the MOV goals.

Project scope defines the deliverables of the project that are required to be accomplished to achieve the goals of MOV. In the given scenario of Globex,

Scope Management Plan

Scope management plan presents a baseline of scope which includes scope statement, work breakdown structure and WBS dictionary (Fossumet al., 2018).

Following are scope of the proposed iCorp project:

• Requirement gathering
• Data processing
• Frame business rules
• System analysis and design
• Create test cases – Unit and application testing
• Frame checklist for verification of scope
• Creation of website and a mobile app for online cash marketplace system for faster transaction and 24×7 available (Fossumet al., 2018).

Involved resources

• The proposed website/mobile app should be able to generate reports regarding biddings placed, preferred buyer list and total transactions made.Work Breakdown Structure is defined as the logical decomposition of the task to be done into smaller manageable modules.

Following assumptions are made for preparing the budget:

• Every resource has been assigned a cost as per its role in the project.
• Material costs like training material, room booking, etc. are also included in the project.

Following assumptions are made for risk analysis:

• The proposed system shall be available for 24×7.
• The system should be functional for every seller and buyer.
• Training may take longer time.
• There is no other competitor who has iCorp type system.
• There is a change in scope if requirements are changed during the project development.
• Project manager and risk manager are available for risk assessment.
• Risk Identification Framework

Quality management plan includes providing best quality product to clients (Goetsch and Davis, 2014). In order to fulfill the requirements of quality, we maintained clear vision of requirements of quality. The work from every team member was checked thoroughly and matched with the quality standard. Every iteration is tested under different scenarios after development. It is also ensured that all requirements are feezed before deadline and budget finalization. We also ensured that privacy and security concerns are resolved while developing payment options for both website and mobile app.   

Verification activities are those activities which ensure that product performed the functions as desired by the end-user. Following are different verification activities conducted for validating the quality product by the Virtucon company:

• The entire work is divided among the team members which is then cross-checked thoroughly. This would ensure that project is done as per the client’s requirements.
• Quality expert must ensure that code developed by the developers must  follow the industry standards and be safe-guard against external attacks.
• Virtucon management will review the test specifications used to find defects in the developed code. On resolving the defects, revised code is tested again (Heldman, 2018).

Validation activities are those activities which ensure that developed product satisfies the requirements of customer. Following are different validation activities conducted for validating the quality product by the Virtucon company (Josephet al., 2018):

• The developed system is validated to meet the accuracy and performance needs of the customer.
• In development phase, code is validated  to ensure that it works as per the requirements.
• Regular feedbacks are incorporated in the system after Go-Live. 

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

The authors of the resource opined that execution of project could be conducted using Manhattan case study. The outcomes of research study have been applied to obtain a framework which could have been used for execution of a project. The authors have also made a conclusion that strategic structures can be applied to fulfill the project’s objective. Hence, strategic planning aids in project execution phase.

Fossum, K.R., Danielsen, B.E., Aarseth, W. and Johnsen, S.O., 2018. A project management issue of new technology developments: A case study on lack of human factors’ attention in human–robot interaction. Proceedings of the Institution of Mechanical Engineers, Part O: Journal of Risk and Reliability, 232(2), pp.164-173.

The authors of the resource opined that studied case study was used for monitoring, evaluating, managing of the management of health system under observation. Authors say that healthcare domain requires overall improvement. For project analysis, the detailed procedures are required and authors have given emphasis on this too. Also, the resource says that to make advancements in the project, advanced technology is used.

Cooper, R.G. and Sommer, A.F., 2018. Agile–Stage-Gate for Manufacturers: Changing the Way New Products Are Developed Integrating Agile project management methods into a Stage-Gate system offers both opportunities and challenges. Research-Technology Management, 61(2), pp.17-26

In this resource, the authors have used large a complex project to find out the project execution strategy. This will guide the mentioned organization to execute tasks in an accurate manner. With the help of Algerian Highway case study, the authors framed a framework for project evaluation. As per the authors, some factors should be reviewed and analyzed to frame a perfect project evaluation framework. Using such framework, project could be closed effectively. During this, the opinions and recommendations of both internal and external stakeholders have been taken into consideration.

The closure checklist informs the project manager and team members that all tasks should be completed before final sign-off. All activities present in the checklist should be done before final closure of the project. Following closure activities should be followed to ensure that project is completed successful before Go-Live (Fuller et al., 2017)

Project evaluation is defined as the extent to which the project is able to achieve its goals under the allocated budget and time. It confirms whether the developed the project stands on the client’s needs. MOV developed in the above shall fulfill the requirements of customers.

Cooper, R.G. & Sommer, A.F., 2018. Agile–Stage-Gate for Manufacturers: Changing the Way New Products Are Developed Integrating Agile project management methods into a Stage-Gate system offers both opportunities and challenges. Research-Technology Management, 61(2), pp.17-26.

Dugué, B. & Petit, J., 2018. 313 The involvement of the employees in the project management: a key issue for efficiency and health at work.

Fossum, K.R., Danielsen, B.E., Aarseth, W. & Johnsen, S.O., 2018. A project management issue of new technology developments: A case study on lack of human factors’ attention in human–robot interaction. Proceedings of the Institution of Mechanical Engineers, Part O: Journal of Risk and Reliability, 232(2), pp.164-173.

Fuller, M.A., Valacich, J.S., George, J.F. & Schneider, C., 2017. Information Systems Project Management: A Process and Team Approach, Edition 1.1. Prospect Press.

Heldman, K. (2018). PMP: project management professional exam study guide. John Wiley & Sons.

Joseph. Phillips, p. M. P., cbap, i., & pmp, c. (2018). Pmp project management professional study guide. Mcgraw-hill education.