MGMT401 Project Management: Mobile Application Development Project

d development work to offer innovative applications to its customers.

Project Overview 

XYZ is developing a mobile application for one its clients that is a small-scale financial firm. The mobile application will run on iOS and Android platforms. The application is being developed for the employees of the financial firm to manage the customer data and information, automatically allocate the duties and responsibilities to the employees, and keep a track of the projects undertaken by the organization.

Product of the Company

The mobile application to be developed by the company will be designed using Adobe Experience Design tool and the source code will be developed using Adobe PhoneGap Build. The testing of the mobile application will be done in Google Chrome Emulator along with the testing tools as Selenium and HP Quality Centre. The mobile application will have a home screen along with the screens for each of the modules. The non-functional requirements as scalability, security, performance, reliability, and availability will be included in the application (Payne, 2013).  

Assessment of Financial Feasibility of the Company

Capital Requirements

The primary costs that will be associated with the project will be the cost of tools.  Adobe Experience Design comes with a cost of $19.99 per month and HP Quality Centre comes at the cost of $45 per user per month. Adobe PhoneGap Build and Selenium come for free of cost. There will be database costs that will be involved with MySQL Server as the database and it will come for a cost of $5000. There will be cost of resources, design & development costs, and training costs that will be involved and have been estimated to be $60,000.

Funding Sources

The project will be funded by the Project Sponsor as the financial firm and there will also be the business partners of the firm that will assist and play a significant role in providing the project funds (Huston & Jadevicius, 2014).

Returns & Benefits 

The implementation of the mobile application will streamline the operations for the financial firm which will lead to increased revenues for the organization. The revenues will enhance by 35% along with the enhancement of employee productivity and efficiency by 45%. The market shares of the organization will improve by 37% as an outcome.

Risk Analysis of the Project 

There will be several risks that will be associated with the project and these have been summarized in the table below.

Risk ID	Name	Description	Probability	Impact
1	Information Security Risks	The mobile application that is being developed may be exposed to information security threats and attacks, such as malware attacks, network-based security attacks, etc.	4	5
2	Quality Risks	The quality of the mobile application may not be in accordance with the quality standards.	1	5
3	Schedule/Budget Overrun	The overrun of the estimated schedule or budget may come up with re-work and increased changes (Ravis, 2013).	3	5
4	Resource Risks	The project resources may not contribute to the project as per the expected productivity levels.	2	4
5	Operational Errors	There may be operational errors encountered by the resources.	3	3
6	Technical Faults	The technical tools and faults may have an error and may not function as per the expectation.	2	4
7	Ethical Issues	Non-adherence to the ethical standards	2	5
8	Legal Obligations	Non-adherence to the legal standards	1	5

The probability and impact scores are assigned on a scale of 1 to 5 with 5 being the highest. These risks can be mitigated and avoided in the project by using suitable treatment strategy for risk control and management. The use of security controls, audits & reviews, trainings to the resources, discussions with the resources, and assessments can mitigate and avoid the issues listed above (Simister, 2004).

Conclusion 

The project will be feasible from the financial point of view as the project costs will be arranged by the sources of funding and the project will provide good returns and benefits. The project risks will also be controlled and managed easily with the application of adequate control and treatment strategies.

References

Huston, S., & Jadevicius, A. (2014). Sustainability Assessment and Feasibility Analysis: Towards Reflexive Foresight and Financial Scrutiny. SSRN Electronic Journal. doi: 10.2139/ssrn.2465848

Payne, J. (2013). Secure Mobile Application Development. IT Professional, 15(3), 6-9. doi: 10.1109/mitp.2013.46

Ravis, J. (2013). Risk Analysis Paramount in Project Financing Decisions. Natural Gas & Electricity, 30(4), 1-7. doi: 10.1002/gas.21721

Simister, S. (2004). Managing Project Risk and Uncertainty. International Journal Of Project Management, 22(3), 269-270. doi: 10.1016/s0263-7863(03)00007-3