The CIO has also informed you that you must select software development methodology for the company’s proposed financial management system. Please choose from the following methodologies and create a software development plan:
Traditional (Waterfall, Incremental, Spiral, etc.)
Agile (Scrum, Crystal, Adaptive, Feature-driven, DSDM, etc.)
Extreme Programming (XP)
You will use the software development model that you selected as the basis for your assignments for the remaining weeks of the course. The initial business requirements for the financial management system are outlined below.
The new system should be an end-to-end enterprise financial management solution designed to meet the needs of the most complex, multinational organizations. The ERP solution should be comprised of a robust set of applications that support all aspects of financial business activities and are listed below:
Financial and management accounting: Financials provides core accounting and reporting capabilities with scalability to support the requirements of large multinational companies. Key features and functions include the following:
Fixed asset, accrual, bank, cash journal, inventory, and tax accounting
Accounts receivable and accounts payable AR/AP
Fast close functions
Financial supply chain management: The module should be a set of applications to help streamline receivables and collections management processes. These integrated solutions should help reduce operating costs and improve cash flow and reduce days’ sales outstanding. The application should include the following application functionality:
Treasury applications: The treasury applications should provide robust cash, liquidity, and financial risk management capabilities that enable you to more precisely manage cash, mitigate financial risks, and streamline bank interactions and payment processes. This application should contain the following application functionality:
Cash and Liquidity Management
Helps you monitor and manage cash flow and liquidity
Generates comprehensive and timely cash forecasts and plans
Enables centralized control of banking balances, cash management, and payments
Reduces costs of interunit payments, transfers, and bank fees
Treasury and Risk Management
Models risk scenarios and executes mitigation strategies
Reduces your organization’s financial risk levels and ensures regulatory compliance
Bank Communication Management
Streamlines and optimizes corporate-to-bank communications
Provides straight-through processing, improved payment control, and lower processing costs
Select a Software Development Methodology
Your task is to create a software project plan, with a Key Assignment using the software development methodology you selected for the financial management software project. You are also required to describe the advantages and disadvantages of using the method you selected for the assignment.
You must outline the project plan based on the weeks that are inherent with the software development methodology selected and incorporate the financial management system business requirements outlined in the background section above.
Use Microsoft Project to capture the task and steps for the software development methodology you selected. also develop a report for the CIO that will outline how you plan to incorporate the ISO standards and IEEE standards into the overall project development effort. Make sure that you incorporate code review and continuous improvement cycles along with tasks to ensure that the standards outlined are incorporated in the software project plan.
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