Professional Documents
Culture Documents
OmniCommerce (Group Assignment)
OmniCommerce (Group Assignment)
1. Introduction .............................................................................................................................................. 3
Purpose of the document ......................................................................................................................... 3
Brief description of the project ................................................................................................................. 3
Contextual orientation .............................................................................................................................. 3
Scope of the document ............................................................................................................................. 3
2. Project Charter .......................................................................................................................................... 5
Purpose and objectives of the project ...................................................................................................... 5
Scope of the project .................................................................................................................................. 5
Key requirements and acceptance criteria ............................................................................................... 5
Exclusions .................................................................................................................................................. 5
Stakeholders ............................................................................................................................................. 6
Total budget (aligned with preliminary budget) ....................................................................................... 6
Milestone dates (from preliminary plan) .................................................................................................. 6
3. Project Solution Architecture .................................................................................................................... 9
Context: System scope and external interactions .................................................................................... 9
Structure: System components and their interfaces ................................................................................ 9
Behaviour: Response to external stimuli across system components .................................................... 10
System allocations: Resource allocation across components ................................................................ 10
Communications: Interaction patterns between components .............................................................. 10
6. Project Plan using XL ............................................................................................................................... 15
7. Preliminary Budget.................................................................................................................................. 17
Justification of estimates with references and assumptions.................................................................... 21
Risk analysis related to the budget ............................................................................................................. 23
Contingencies and final budget declaration ............................................................................................... 25
8. Conclusion ............................................................................................................................................... 26
10. References ............................................................................................................................................ 28
1. Introduction
Purpose of the document
This document is prepared to outline the project management approach for "OmniCommerce: Whereby
" The Web and Mobile based retail project." is a holistic understanding of stakeholders about project’s
goals, design and implementation of projects. The document tries to unify all team members as well as
stakeholders so that they will help in fulfilling the project objectives and achieving the set goals and
methodologies (Liu & Arnett, 2020). It´s a formal communication tool thought that gives open and very
specific ideas about every phase of the project, from planning to deployment and post-launch
analysis. The documentation follows this up, it clearly states the expectations and roles of all parties
concerned; hence, the smooth and transparent working relationship is made possible..
Contextual orientation
As the project manager of "OmniCommerce: "Unified Web and Mobile Retail Solution," this doc creates
to inform you, the respected dealer as our audience with the strategy of the project and operational
structure. The objective we have in mind is to provide an e-commerce platform that is smooth and
reliable and is in line with your business objectives and offers the same high-quality shopping experience
to your customers. One of the principals of our agency is that we embrace the last technological
innovations of web and app development to obtain the framework, which is not only competitive but
becomes the leader on the market (Chen & Kamara, 2021). This document will have you covered in every
phase, making sure everyone involved is kept updated and engaged with the current status and that all
decisions would be based on your/our best interests..
Exclusions
The "OmniCommerce: This project entitled "Unified Web and Mobile Retail Solutions" will,
however, not include some elements and features in order not to lose the focus, and stay
focused withins its scope. As a particular plan, there will not be native apps for platforms such as
Windows, Blackberry, and the others other than iOS and Android. Moreover the cost will not
cover both the creation of extended pieces that possess advanced interactive technologies such
AR, VR and other immersive technologies that are beyond the main functionality of e-commerce
sale. Interface integration between ERP systems or the excessive personalization of the
management systems out of the standard of the e-commerce will not be part of this
development project (Turner & Sohal, 2021). Such exclusions, in turn, foster focus due to the fact
of prioritizing the critical factors which have direct effect on client experience and performance
is OK instead the set resource is wasted and the project takes much time to be complete..
Stakeholders
Our project "OmniCommerce" involves two vital stakeholders, our client, who plays a role of a
project sponsor, and end-users, namely shoppers, who will work through the platform. Further
stakeholders are project team members, web and mobile developers, UX/UI designers, and
project managers plus external output partners, namely payment gateway providers and
shipping/logistics companies. Marketing employees in conjunction with customer engagements
will be at the top of the list to work on experience alignment of the application with users desire
and business objectives. Each of the stakeholder groups has various needs and expects different
contributions while its attended to development of the project and its outcome (Liu & Arnett,
2020). Getting and cooperating role with such stakeholders during the project iterations will
better align the project with business goals and market interests..
Project Kickoff - May 1, 2024: The first step: it initiates with the first meetings that are held with
all stakeholders to confirm the final specifications and the objectives of the project.
Design Phase Completion - June 15, 2024: Targeted User experience design activities across both
the web as well as mobile applications. This comprises the entity interface and utilitarian
experience frameworks that the stakeholders endorsed.
Development Phase I Completion - July 30, 2024: Complement the given platform with its
essential functions, ready to be tested in early stages.
Testing Phase I - August 15, 2024: Initially, a testing session to explore bugs and have feedback
on the user interface usability from a user group who had been identified.
Development Phase II - September 30, 2024: The modified version suggesting adding a feedback
mechanism and new feature development based on the responses received.
Testing Phase II and Security Audits - October 15, 2024: Subsequent stint of testing,
concentrating on security and optimization facilities.
Platform Launch Preparation - November 1, 2024: The last steps for launching after agent
preparation for customer service together with email and push notifications would be started.
Official Launch - November 15, 2024: The final phase whereby both the mobile and web e-
commerce platforms are unveiled together, and their monitoring is undertaken thereafter.
Project Review and Closure - December 15, 2024: Final report, including an overview of ideas
implementation, a soil analysis and a further development and implementation of plans.
Demarkation of those project stages served as a guide for the project team and stakeholders,
namely the proper grouping of the different tasks and completion of each phase on schedule.
This step by step method to project management and also to be add up with the planning of
strategic goals of the organization.
3. Project Solution Architecture
Context: System scope and external interactions
The "OmniCommerce: We plan to cover a joint area of the web and mobile unified retail
solutions project scope with two solutions, a website along with mobile app, for a smooth e-
commerce experience. Apart from developing the main system the organization will interact
with external entities like payment gateways, social networks, and 3rd party logistics to conduct
deals and improve customer engagement. These actions make it possible to perform such
functions as secure payment, information exchange on social media and smart tracking of orders
and deliveries (Chen & Kamara, 2021). Integration the system with other data sources will allow
for the real-time synchronization of product availability and pricing across different databases
and inventory management they use. The agreement and compliance with data protection
regulations are another facility, so I have to be connected with security services to ensure user
data security. The overall framework was developed with in-view scalability in mind, so it is
capable to support expansion or further integration without losing the performance or user
experience..
User Interface (UI) - The user interface or an initial point of contact both for websites and mobile
applications, which focus on simplicity, responsiveness, and aesthetics. It flips its face forms
directly to the back end server via API calls.
Backend Server - In charge of business logic, databases handling, and third-party services such as
payment processors or shipment companies integrations. It provides the infrastructure for
recording all data related to the ledger and foraring the entire transaction set.
Database - Everything is available for in this Database, includes user information, product data,
purchase transactions, and analytics. It is created for in high availability mode,and it is also
secure access so it interfaces the backup server for data request and modification.
Payment Gateway Interface - Linking among a multitude of payment service providers to provide
users with a safe, and rich option of the payment options. Besides being a major function of a
cryptocurrency network, it ensures transactions have details that are encrypted and that the
transactions comply with regulations of the finance industry (Liu & Arnett, 2020).
Content Delivery Network (CDN) - It helps in swift content distribution of static content like
images and scripts in the entire world that, channels in the improvement of page load speed and
user experience on both the mobile and web platforms.
Analytics and Reporting Module - Reports gathered from interactions in the system with
contributing to identifying past activities of users, sales and system's overall performance. This
module is the intermediary bridging data connections between the server and the managerial
dashboard display, further enhancing strategic decisions.
Components are connected by way of APIs and web services, making the system unified and the
each module is developed and maintained separately, this way. Intentional modularity enables
future upgrades, vertical scaling and new technologies integration or services addition..
4. Release Plan
• Release goals and problems addressed
The key targets set for the launch of OmniCommerce are to improve the shopping experience by
means of a single interface (either web and mobile integrated) and make this flow easy and
smooth without interruption of any kind. As the release is targeted at resolving the problem of
inconsistent user experience on different devices, which ideally inhibit user engagement and
sales, respectively. We will be able to increase the happiness of users through a single resolution,
and this should lead to a higher user retention rate and more revenue. In the view of this, along
with the development of the high-level security features and strengthening backend
infrastructure are crucial goals for solving the problem with data breach and transaction security
which are current concerns in e-commerce world (Chen & Kamara, 2021).).
The project is going to face several risks, for example, technical hold-ups due to the multi-
complexity of uniting the various systems and weaknesses that digital security systems have.
Existent interdependencies with third-party providers of such services as payment gateways and
logistics cause considerable risks that a system can be down and perform inconsistently. The
mitigation strategies like carrying out stringent testing phases, creating a devastation plan for key
dependencies, and choosing a trustworthy partner with proven performance(Turner & Sohal,
2021) is also part of the smart city projects. Such actions are basically meant to take into account
the risks and to avoid the occurrence of problems that would later impact the project’s
timeframe or quality..
Real project´s team velocity is the base for sprint capacity for the "OmniCommerce". It
represents complexity and size descriptions of previous team tasks. Under this proposed
scenario wherein story points velocity equals 80 per sprint, essential features are highlighted
and brought out in early sprints to validate the functionality and quicken overcoming major
technical challenges. This ability makes it possible to make changes to the workload on demand
and set priorities for almost any new challenges that come up by adjusting the work to be the
progress and the team's efficacy at that instance (Liu & Arnett, 2020).).
The selection of epics and user stories for "OmniCommerce" relies on the business value and
technical complexity to ensure that the most valuable and difficult features come first. Priority
epics include a payment system and cart system unification; the latter is crucial because the
immediate transaction capability is necessary as well as satisfied user is. They are divided into
micro users stories with story points sizing estimated acceptance criteria and development
stories, by the historical data and input team. This illustrates how resources are allocated in an
effective manner, wherein first the features that provide the maximum value of effort and are
lengthy are selected for development through this method (Chen & Kamara 2021).).
In this manner, we will organize each sprint starting with determining how many user stories
should be allocated in the development teams at the initial planning phase, which is the
prevoius phase. Usually, at the end of those weeks a meeting can be organized and based on the
review, the plan can be adjusted too. The 2-week cycle designation of the workload distribution
follows a management pattern that keeps everyone abreast of their responsibility and deadlines.
Distributed user stories among teams as a strategy to equalize workload and make sure that the
resources are being optimally used for all components of "OmniCommerce" (Liu and Arnett,
2020).).
Stakeholder input is viewed as a key driver for the completion of the project plan for the project
known as "OmniCommerce." Stakeholders, including client companies representatives,
marketing teams, and technical business leads, have the chance to offer their feedback after an
onsite presentation of our initial release plan. It is essential that comments include any issues
that arise and allows us to match the project goals to business objectives and user needs.
Adjustments should start from ironing out the project scope, schedule, and resource allocation
based on the recevied feedback. This blow-and-go communication channel guarantees that the
project stays flexible and adaptative to the stakeholders' concerns and the market context. It,
therefore, sets the stage for the project's success (Turner & Sohal, 2021).).
5. Kanban Chart
Kanban stands for visual management of the projects and was invented in the japanese
automotive industry. It is an IT based tool for project management, which is widespread in
software developing companies as well as in IT sectors. Kanban is based on its main principle, i.e.
to keep the work in an equilibrium - by equating tasks to the available capacity on-hand and
handling the possible bottlenecks. In reality, Kanban is a system where work items are
graphicized on a board known to be a Kanban board where the process is showed in different
columns and varies from "To Do" to "Doing" to "Done" (Anderson, 2010).
Every item (a card) on the board corresponds to the task or the part of the work that moves
from the left side to the right end as a project gets through the stages of its life cycle. The
movement is governed by Kanban’s key rules: look over the workflow pattern, organize WIP,
control flow, expose policies and procedures of process, and improve collaboratively. To reduce
the workload of the Doing stage, Kanban technique is applied, which is to complete tasks before
moving to the next one, and now we have a shorter time to finish a task and workers tend to
work on only one project at a time.).
Furthermore, Kanban emphasize on continued improvement too. Such knowledge will provide
not only the teams but also the whole organization with an opportunity to both track and revise
the working flows. Since the board will be regularly reviewed, each team member will have a
chance to identify inefficiencies and to collaborate on possible strategies for eliminating them.
Another benefit derived from this is an ability for reiterating workflow and performance
improvement as a host to delivering the best quality outputs and more employee satisfaction
(Benson & Barry, 2011).).
The "OmniCommerce: "Unified Web and Mobile Retail Solutions" plan is composed of the tasks
representing major milestones that together provide a phased deployment of e-commerce
website. In this section, we will specify these essential tasks and steps that are solely related to
the schedule as defined in the release plan, while noting each stage is a building block toward
the end of a winning project..
• Task: Develop user experience (UX) wireframes for mobile and web interfaces.
• Task: Develop front-end and back-end functionalities according to the release plan.
6. Launch Preparation
The order of the tasks is planned in the way that each phase aims to strengthen those to come
before and each of them is inserted into the sequence because it helps achieve the overall
objectives that were planned. This structured moves stops the effective management of projects
and thus communication between all the project stakeholders and that is the convenient for the
smooth launch of the OmniCommerce platform..
• Ganntt Chart
7. Preliminary Budget
High-level estimated costs for:
In the development of "OmniCommerce: "Let us create - Unified Automated Web and mobile retail
solutions" make up a lion's share of the project expenses. This allocation is attentively calculated through
translated approach to the effort, skill levels required, and the complexity of the tasks involved. Here's a
detailed analysis of how labor is budgeted for our project:Here's a detailed analysis of how labor is
budgeted for our project:
The multiplayer project of the OmniCommerce project needs a group of factions. Each member of the
team should possess unique specialized skills that are a necessary condition for the successful realization
of the project.The primary roles include:
• Project Managers: Monitor project activities, ensure that they are done on time and within the
allocated budget. In addition, they perform tasks ranging from risk management to communicating with
stakeholders. 2
• Business Analysts: Position duties includes collecting tasks, conducting market studies and determining
that the solution meet the specific business needs.
• UX/UI Designers: Figure out the user interface and user experience (UI/UX) that is intended to make
the platform a bit easy and fast to use by meeting users’ expectations.
• Software Developers: This platform involves the actual coding from the front-end to the back-end
section. Team A is divided into 2 sub-teams, one specialized in web development and the other in mobile
development, with a command of certain programming languages and frameworks.
• Quality Assurance Engineers: Do due diligence to make sure that that your product has few, if any at
all, bugs and performs as it should through regular testing.
• Security Specialists: The security and the process integrity of the platform should be your prime
concern, since they govern the custody and provision of users data, as well as their compliance with the
relevant laws and regulations.
• DevOps Engineers: This includes the responsibility of having the deployed, operated, and maintained
of the infrastructure that supports the software platform.
Labor costs are estimated by evaluating the amount of effort required in person-hours and multiplying
this by the hourly rate of each role. Here's a breakdown:
• Project Managers and Business Analysts work extensively during this phase, along with
UX/UI Designers.
• Estimated effort: 500 hours for Project Managers, 300 hours for Business Analysts, and
400 hours for UX/UI Designers.
2. Development Phase:
• Software Developers and DevOps Engineers are the primary workforce in this phase.
• Estimated effort: 1200 hours for Web Developers, 1200 hours for Mobile Developers,
and 300 hours for DevOps Engineers.
• Quality Assurance Engineers and Security Specialists have their work cut out during this
phase.
• Estimated effort: 600 hours for Quality Assurance and 200 hours for Security Specialists.
• Ongoing efforts from Project Managers, DevOps, and occasional inputs from Developers
and Security Specialists for updates and patches.
• Estimated effort: 200 hours for Project Managers, 100 hours for DevOps, and 50 hours
each for Developers and Security Specialists.
To calculate the total labor costs, each professional group's total hours are multiplied by their respective
average hourly rates. For example:
The labor budget is justified based on the skill and effort required for each phase of the project, ensuring
quality delivery without compromising on functionality or security. Continual assessment of labor
efficiency and effectiveness allows the project to optimize resource allocation, ensuring that budget
estimates remain accurate and reflective of the project needs.
By carefully planning and justifying the labor costs associated with the OmniCommerce project, we
ensure that each dollar spent contributes directly to tangible, quality outcomes, aligning investment with
value creation. This strategic approach to budgeting labor ensures that the project not only meets its
timelines and quality benchmarks but also remains financially viable and competitive.
The budget for the "OmniCommerce: "A common solution that combines all Web and mobile retail
options" project confidently has considerable budgets for the additional expenses that are not covered
by direct labor. As such, this indirect cost covers diverse outlays beyond the principal amount like
licenses, management, and additional expenses needed to operate this project. Here’s a detailed
breakdown of these costs and their justifications:Here’s a detailed breakdown of these costs and their
justifications:
Licenses
1. Software Licenses:
• Development Tools and Platforms: Building both web and mobile apps largely is based on cutting-edge
software tools such as IDEs as one software tool, database management systems, and design
tools. Expenses may arise in terms of costs for licenses to Microsoft software products like Visual Studio,
Adobe XD, and SQL Server.
• Frameworks and Libraries: Application of self-chosen libraries or frameworks for front-end and back-
end development may necessitate payment of a fee to their creators. To illustrate, some libraries of
advanced UI components or back-end frameworks could be found with the various security features that
can be accessed by the users only after paying the license fee.
• Testing and Deployment Software: Tools such as Jenkins that enable CI/CD simply may require an
enterprise package which provides extra features as opposed to freemium versions. Similarly, Selenium
testing software that needs advanced configurations likely requires an enterprise multi-feature license.
• APIs and Web Services: In most cases, the third party integrations such as payment gateways, SMS and
email notification services are based on the level of usage and they often require a subscription that has
recurring costs.
• Cloud Services: Utilizing the cloud platforms for hosting applications and data storage incurs a fee
based on the bandwidth and storage space utilized, furthermore, accessing machine or software learning
and analytics tools as a whole may incur extra costs.
Management Costs
1. Project Management:
• Along the same lines, a project plan tracker platform such as Microsoft Project or Atlassian Jira is
absolutely critical for the purposes of tracking progress, managing resources and making schedules. The
project management tool subscription fees are nothing but the extra expenses that flow into our
expense sheet to maintain our project efficiency.
• Further, recurrent classroom training and workshops which focus on project management excellence &
lessons on the current software versions also augment the cost overheads.
• We adhere to the softvr subscriptions to such communication tools as Slack, Zoom, or Microsoft Teams
with a surplus of importance in the context of the hybrid or entirely remote work.
• You may need to spend a little bit more, say, on systems that ensure file security and enable
collaboration like SharePoint or Google file sharing.
• Legal service fees with focus on reviews of contracts, compliance and advising, especially on data
protection laws (like GDPR) and intellectual property rights.
• Those will be organizational expenses such as paying bills and procurement of equipment and software
for the efficiency of challenges procedure and other management issues.
Additional Overheads
1. Infrastructure:
• The physical structural components of the infrastructure composed of servers (unless fully cloud-
based), internet routers/switches, and security related devices.
• Rent, utilities, and maintenance bills are some of the main expenses that will be incurred during the
time the team is not fully remote.
2. Contingencies and Miscellaneous:
• A plan B fund to cater for unforeseen events including sudden development of expensive license fees,
quest for additional hardware, or urgent software securities like patching.
• These types of expenses that are frequently under estimated like the cost of international bank
transactions fees, cost for travel to clients meetings or data center visits and costs for items for
promotion of new events and product launches.
In the process of monitoring the expenditures of these capital outlays, there arises the guarantee that
the "OmniCommerce" project will go on without any financial disruption, and will adhere strictly to the
set-out timelines and quality measures. Due to the fact that each cost component is reviewed regularly
to ensure that the reasonability of expenses is why they are there and they provide value, with
adjustments being made to suit to project goals and financial limitations being tortured. However, to
ensure this, leading to their ultimate success and scalability will require taking this financial management
and be thorough.
1. Development Timeframe: The project is foreseen to follow the set time plan with phases that are
defined in advance. This is what will influence workers' costs and durations representing the
subscriptions of different software tools.
2. Team Composition and Wage Rates: Figures depend on the current rates for software developers,
team leaders and other team members assumed to constitute the estimation with no banked pay
increases.
3. Technology Choices: Attitudes about the choice of mechanisms, languages and instruments are
common with the current technology tendencies and the crew talent.
4. Third-Party Service Costs: Estimates under the assumption that current pricing for third-party
facilitating services such as cloud hosting and APIS stays consistent with an acceptable cause of inflation
included.
Justification of Estimates
1. Labor Costs:
• Sources: The industry salary surveys of various organizations such as Bureau of Labor Statistics and
Glassdoor are responsible for providing the median salary data of technology and data analytics officers
who are usually involved in IT projects (Bureau of Labor Statistics, 2021).
• Methodology: Forecasted hours for labor from these norms will be applied, considering the experience
level, geographical location, and the needs of the distinct role.
• Sources: We gather information on pricing of software straight from vendors’ websites and based on
the feedback we’ve received from sales people in the last few months.
• Assumptions: This licensing brings the expectation of proper scaling and enough support the project’s
needs. The cost model takes into consideration volume purchase bulk discounts talks with the suppliers
at its inception.
• Sources: We can use data related infrastructure assets in comparable projects to help calculate the
expenses that can be expected, both physical and cloud infrastructures.
• Assumptions: The project considers the normal growth of data consumption and user number,
affecting in the weight and cost of infrastructure building.
• References: Recent research has revealed the major relevance of functional project management and
communication devices in overcoming retardation of the projects and increasing the efficiency level of
the workforce (PMI, 2020).
• Methodology: Tools in this category are economical due to the assured fall-back on the investment,
achieved through an improvement in efficiencies and controlled risks of project overruns.
4. Contingencies:
• Source: The PMKB Guide suggests that the manager reserves for unexpected costs that are equivalent
to a contingency funding of 5-10% of the total budget (Project Management Institute, 2021).
• Assumptions: Thus, in the OmniCommerce project complexity and technological range are taken into
account, and for the sake of managing the risks, the high-end contingency is applied relating to software
development and release.
Risk analysis related to the budget
Conducting a thorough risk analysis related to the budget of the "OmniCommerce: This “One Web and
Mobile Retail Solution” for Financial Risks Mitigation and an ongoing Financial track should be
implemented for the Project to succeed financially. This review provides information on simmering risks
that influence the budget and provide solutions to how these risks could be managed effectively.
• Risk: Software development, especially for the fashionable e-commerce platforms, run a high risk of
budget overrun due to all kinds of unforeseen technical problems, creeping scope, or the unexpected
task complexity.
• Mitigation: Using the delimitation system and the change control organizing procedure in a consistent
way will help in the systematic control of changes and avoid the risk connected with them. The tasks
have a great scrum ceremony for the errors and preventing scope creep that will be done with regular
sprint reviews and stakeholder meetings.
• Risk: The cost of labor can be changed given the context; for example, it can increase due to market
demand for skilled developers and project managers, or because the team must hire additional people
to meet project deadlines.
• Mitigation: Closing in contracts price and to some extend work-on-job basis should ensure control
costs. Also, it can provide an option with a buffer-hading for freelance talents for future appointment,
and it can be helpful in the absence of long term.
• Risk: The project is heavily dependent on many outside suppliers (cloud services, payment gateways)
and any of these services may see pricing changes or surcharges in case of higher than planned usage
rate.
• Mitigation: Predictable fixed-price agreements for the whole period of the project in case it is difficult
to achieve and dealing with reliable vendors featuring stable prices can reduce this risk. Consistent
evaluation of provided service against the set budget will be one of another essential factor enabling the
timely phase out of overages detection and correction.
• Risk: When it comes to countries, where working on projects involving multiple countries or that
resources are sourced globally, it is not unusual to have exchange rate fluctuations and high inflation
which may increase costs.
• Mitigation: Through financial instruments like forward contracts and options which entail provision
from drastic currency fluctuations could be the way up to topics related to budget. Allotting expenditures
in the native currency of conduction, if possible, will also limit the risk factor caused by exchange rate
differences.
2. Unexpected Technical and Security Issues:2. Unexpected Technical and Security Issues:
• Risk: The technical problems, or some serious default security problems emerged after research or
during the post-deployment stage, could result in unexpected cost fluctuations.
• Mitigation: The dedicated allocation of expenditure on complete test and quality guarantee processes
during the development would give a boost to the process and thus will prevent the on the run fixing for
the errors that are found costly otherwise. Furthermore emergencies of this nature should be planned
for by preparing a contingency fund that is solely for technological purposes.
• Risk: Markets regulations are far from being stationary, and data protection matters (like GDPR) or e-
commerce requirements could unexpectedly cause compliance costs to arise.
• Mitigation: Including legal specialists who can oversee any potential compliance requirements and
arranging for regular compliance inspections during the entire setup phase of the project will certainly
reduce and manage the follow up costs.
4. Project Delays:
• Risk: The long time frame of this project may create burden of costs associated with personnel,
equipment and facilities., it would impact the budget as a whole.
• Mitigation: Ensuring suitable project management, adequate communication tools, and completion
date tracking are crucial to stay on deadline. Leaving buffer time ahead of the schedule in these portions
of the project plan that may be filled by delays prevents the project taking a detour while keeping its
progress going on track.
Conclusion
Smooth financial operations strategy should involve knowing about and calculating risks factors. Risk
management strategies that are integrated and forward looking not only prevent cost overruns but also
make it possible for the project to adapt and survive in the face of challenges without losing
orientation. The constant monitoring of the risks with follow-up risk management plan updates are
unavoidable as the project develops and as new information is recognized. It becomes a key part of
above mentioned approach to budget risk management of the project that has its role in its overall
success and long-term maintainability.
Contingencies
Whenever there is an unexpected financial loss, this setting in project management is referred to as
contingency, which provides for loss recovery. They enable the project manage as encounter certain
projects' unexpected costs without failure to achieve them. As per the Project Management Institute
(PMI), make provisioning of the contingency budget in the program for the acknowledgement of the
things that can never be estimated and may pop during the course of completing the projects (PMI,
2017).
The existence of contingency funds is decided on the basis of risk degree of certain projects. Technology
projects should be placed into the high-risk category regarding the information systems security,
therefore, the budget is set to be at least 10-15% intrinsic due to the high volatility and rapid
technological advancements resulting in changing of project parameters (Kerzner, 2019). The
accomplishment of this task will be a high risk process with technology integration, regulatory
compliance, and the conduction of third-party service, being the main candidates for risk to be involved.
• Development Costs: Reserves will be enough for us to handle the risk of cost overruns in software
development which happens in case of scope variations or unanticipated complexity of custom
developed features.
• Operational Costs: Such as the fact that may result in the rise of service fees of the platforms used by
contractors or the increased security measures.
• Regulatory Changes: Investments for coping with risks arising from changes or exigencies in e-
commerce rules or data protection laws reserve funding.
The total budget for the OmniCommerce project, including all planned expenses and contingency funds,
is calculated based on detailed estimates from each department involved in the project:The total budget
for the OmniCommerce project, including all planned expenses and contingency funds, is calculated
based on detailed estimates from each department involved in the project:
• Licenses and Third-party Services: Because I believe financial stability and physical health are key to
leading a happy life, this grant would have a profound impact on my education and overall well-being.
• Contingency Funds (12% of Total Excluding Contingencies): Two hundred and four thousand dollars.
So OmniCommerce is there in your budget comprises the amount of $1,904,000. This financial plan
allows for a detailed view of all the expenses that are foreseeable throughout the duration of the
project. It will also have a cushion, or a contingency funds, that will be used to overcome any financial
risks.
8. Conclusion
Key items taken under consideration
The "OmniCommerce: The "Unified Web and Mobile Retail Solutions" project is tailored to build a top-
of-the-line e-commerce platform for m-commerce and Web users, meeting their comprehensive needs
and delivering a smooth shopping experience. This summary, which is launched will cover the summary
of the project documentation, with which the objectives, structure, methodology and financial planning
will be disclosed.
The line of the project is being implemented thoughtfully and scrupulously, with the development
process including wireframes, prototypes and finally an outstanding technology platforms. The process is
split into varied stages, each having specific tasks and milestones for their assessment to make progress.
In different stages of the testing, such as functional testing, user acceptance testing and security audits,
the platform is checked and proved to be reliable, safe, and user-friendy. The scheme of deployment is
planned sequentially, in which the beta version is designed for the testers' comments before the final
public launch.
Project Management
The project implements the modern project management techniques that include the application of
Kanban to workflow management and Agile methodologies adopted for the performing any work in
iterative fashion and improvement. These aptitudes include keeping this level of flexibility and versatility
and being able to implement process modifications through the project.
Budget Allocation
The budget is being designed in a detailed manner and the expenses proposed in the plan are related to
labor, software license, third party services an d operational costs. A considerable dimension of such a
budget must be in the allocations for the unknowns through a well thought-out reserve.
Risk Management
A through-going risk analysis is executed for the possible financial risks to be revealed, among which are
the price increases of the work, fluctuation in labor costs, and the price value of the third-party
services. Methods such as the fix-price-contract, regular monitoring of expenses, and use of contingency
funds are adopted in attempts to deal with those risks.
Conclusion
The "OmniCommerce" project should be widely recognized as a highly ambitious but adequately
designed undertaking, which could radically alter the e-commerce landscape. In the aim of giving shop
owners and their customers a convenient online shopping experience, the project integrates mobile and
web platforms to offer a system that provides a cohesive user-centric, smooth and secure experience. A
complete planning and a structured implementation approach are not only a great start, but they form a
reliable basis for the project to be implemented successfully. The financial strategies plan that the
project is attainable and resilient even when future hurdles show up. With a robust project management
framework and a clear vision and terms of reference of the project, "OmniCommerce" has every reason
to feel optimistic about the achievement of set objectives and to maintain the balance between the
needs of stakeholders.
10. References
Anderson, D. J. (2010). Kanban: Successful Evolutionary Change for Your Technology Business. Blue Hole
Press.
Ahmad, M. O., Markkula, J., & Oivo, M. (2013). "Kanban in software development: A systematic literature
review". In 2013 39th Euromicro Conference on Software Engineering and Advanced Applications. IEEE.
Benson, S., & Barry, T. (2011). Personal Kanban: Mapping Work | Navigating Life. Modus Cooperandi
Press.
Bureau of Labor Statistics. (2021). Occupational Employment and Wages, May 2021. Retrieved from
Bureau of Labor Statistics website.
Chen, J., & Kamara, S. (2021). Impact of mobile user experience on e-commerce engagement and sales.
Journal of Retail and Consumer Services, 58, 102287.
Kerzner, H. (2019). Project Management: A Systems Approach to Planning, Scheduling, and Controlling.
12th ed.
Kniberg, H., & Skarin, M. (2010). Kanban and Scrum - making the most of both. C4Media.
Liu, C., & Arnett, K. P. (2020). Exploring the factors that influence consumer choice of mobile shopping
apps: An empirical analysis. Information & Management, 57(6), 103375.
Project Management Institute. (2020). Pulse of the Profession: The High Cost of Low Performance.
Retrieved from PMI Reports.
Project Management Institute. (2017). A Guide to the Project Management Body of Knowledge
(PMBOK® Guide) – Sixth Edition.
Turner, N., & Sohal, A. S. (2021). Integration of web and mobile interfaces in e-commerce: Impact on
customer retention. Journal of Business Research, 128, 591-602.
Alvesson, M., & Sköldberg, K. (2018). Reflexive Methodology: New Vistas for Qualitative Research. Sage.
Beck, K. (2004). Extreme Programming Explained: Embrace Change. 2nd ed. Addison-Wesley.
Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time
of Brilliant Technologies. W.W. Norton & Company.
Cohn, M. (2004). User Stories Applied: For Agile Software Development. Addison-Wesley Professional.
Cooper, R. G. (2019). Winning at New Products: Creating Value Through Innovation. 5th ed. Basic Books.
Fowler, M. (2018). Refactoring: Improving the Design of Existing Code. 2nd ed. Addison-Wesley.
Freeman, E., & Robson, E. (2020). Head First Design Patterns: Building Extensible and Maintainable
Object-Oriented Software. 2nd ed. O'Reilly Media.
Kim, G., Humble, J., Debois, P., & Willis, J. (2016). The DevOps Handbook: How to Create World-Class
Agility, Reliability, & Security in Technology Organizations. IT Revolution Press.
Larman, C. (2004). Agile and Iterative Development: A Manager's Guide. Addison-Wesley Professional.
Leffingwell, D. (2011). Agile Software Requirements: Lean Requirements Practices for Teams, Programs,
and the Enterprise. Addison-Wesley Professional.
McGrath, R. G. (2013). The End of Competitive Advantage: How to Keep Your Strategy Moving as Fast as
Your Business. Harvard Business Review Press.
Norman, D. A. (2013). The Design of Everyday Things: Revised and Expanded Edition. Basic Books.
Pine, B. J., & Gilmore, J. H. (2011). The Experience Economy: Work Is Theater & Every Business a Stage.
Harvard Business School Press.
Porter, M. E. (1998). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free
Press.
Ries, E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create
Radically Successful Businesses. Crown Business.
Schwaber, K., & Sutherland, J. (2020). The Scrum Guide: The Definitive Guide to Scrum: The Rules of the
Game. Scrum.org.
Seddon, P. B., & Calvert, C. (2010). Information Systems Success Measurement. Idea Group Publishing.
Sen, R., & King, R. C. (2003). Re-Engineering the Enterprise. CRC Press.
Shneiderman, B., & Plaisant, C. (2020). Designing the User Interface: Strategies for Effective Human-
Computer Interaction. 6th ed. Pearson.
Zook, C., & Allen, J. (2011). Repeatability: Build Enduring Businesses for a World of Constant Change.
Harvard Business Review Press.