Cornerstone Security – Providing Advanced Security Services

About Cornerstone Security project

The main purpose of the Cornerstone Security project is to prepare a detailed project plan that will aid them to offer advanced security services to the customers. The Cornerstone Service Limited provides the agile as well as appropriate financial data. It provides opportunities to the customers to create strategic investment for the excellent returns. 

The Securities and Futures Commission of Hong Kong license Cornerstone Securities Ltd and conducts Type 1 and Type 4 activities. Type 1 activity deals with securities and Type 4 advising on securities. Cornerstone Securities Ltd regulates and monitors the activities and they update all the activities. The enterprise is the Hong Kong Exchange Participant and Trading Right Holder.

The enterprise generally provides secured service to the customers. They generally provide a wide range of services which include the margin financing, settlement, IPO application, private placement custodian, underwriting and nominee service. The enterprise is the safe, reliable as well as financial brokerage companies found in the market. It is their mission to offer ‘professionalism’, ‘integrity’, excellence’. The customers are provided trustworthy and reliable investment partner and to work in a professional manner. The trading platform gives the fast and the appropriate financial information. It facilitates them with well-established strategic investment for excellent returning. 

The goals of the Cornerstone Security project are as defined as follows-

• To provide the customers with IPO Application, underwriting, advising on securities and the nominee services
• To provide reliable investment services to the customers
• To offer corporate financing services 

The Cornerstone Project will provide 75% more customer sa

The constraints of the Cornerstone Project are:

• The project’s completion date is December 30, 2018
• The project budget ranges up to $A 4 million
• The project manager has setup the project team; the team will contain 6 full-time members and 2 part-time members
  • Project Manager
  • Operational Analysts
  • Hardware Engineer
  • IT Network Engineer
  • IT Security Engineer
  • Accountant
  • Vendor Relationship Manager 

• Developing IT architecture plan
• Developing pilot version and that version must be tested and evaluated before it appears in the market
• Coverage of all the plans like the hardware, security solution and the network architecture
• Infrastructure source under request for the process of proposal
• Offering training and assistance to the staff
• Transfer of data to the ‘Cornerstone Securities’ new system from the traditional system
• Configuring operational support and assistance for the hardware and the software resources

Quality management process involves detail analysis of the project how the Cornerstone Securities management can be implemented. The process will let them know how the quality attributes can serve them. The project manager must put effort to assure that the project processes are carried in efficient and effective manner. In this way the quality of the project criteria is assessed. 

The quality management process involves the following principles, standard, quality assurance, quality control and the validation procedures. 

Risk Management is the analysis which analysis and prioritise the risks. The project manager by following the project management methodologies can reduce the uneventful happenings. The Cornerstone Securities project is not well planned then both the resources and money will get wasted. The risk management procedures consist of the following processes-

1. Plan Risk

Under the plan risk, the project manager assesses the risk and prepare project plan. The project manager by following the project plan can mitigate the project risks effectively

1. Identification of Risks

Risks identification helps the project manager and his team along with the stakeholders to acknowledge the risks that can create negative impact on the project.

In this way the project manager can be able to assess the risks associated with Cornerstone Project.

1. Analysis of Risks

The risks related to Cornerstone Project will be analysed by the project manager and the stakeholders. The project manager will determine the risk probability, risk impact and the risk exposure. With the aid of the risk probability, risk impact and the risk exposure the following risk is identified along with the mitigation procedures.  

1. Treating Risk/Risk response Planning

While a risk is ranked from highest to lowest point, a plan should be initiated to minimise those risks. There are several strategies like the mitigation strategies, contingency plans and the preventive plans for mitigating those risks related to Cornerstone Securities project. Mitigation associates evading planning which describes project actions that need to be performed to prevent the risks, in other cases, the project contingency involves performing and creating of backups and follow of plans in case any event or any project activity fails.

1. Controlling and monitoring of risks

License and Activities of Cornerstone Securities Ltd

The controlling and monitoring of risk involves quality checking of the project. Here the risks are evaluated and after that the project manager plans the action to mitigate all those risks.

The project procedures must be monitored and must be controlled all the time. It is the responsibility of the project manager to monitor the project progress after every major activity gets finished. The four categories must be taken into consideration to carry out the Cornerstone Security project and they are-

• Accumulating all the relevant information related to the performance of the project
• Detailed analysis of the performance of the project to detect any related changes
• Detailed reporting of the project performance
• Managing the project change

Face-to-face or Video Call Meetings

Face-to-face interview and the video call meetings will be conducted to accumulate information about the project details and the project performance.

Variance Reports

The reports of variance aids to know both the current as well as the expected outcome of the project. Current period variance demonstrates clear picture what is going on within the project.

There are several problems associated with the project; the best path must be chosen to rectify the issues. The project manager must discuss with the stakeholders and must mitigate the issues raised. The stakeholders must follow the plan in order to get sufficient results and outcome.

Project Dashboards

Project Dashboards is the methodology to choose the best path for the problem recovery. Each and every project activities’ progress is recorded and this helps to know whether the project is on track or not.

Project Control Structure

Project Control Activities are performed to carry out the implementation of the project and this aid in getting g the project back on track.

Project Change Control Process

The change control process is organised to manage all the changes to the system. The services can help in managing the project activities ethically and efficiently. The process involves five stages-

• Suggesting change

The process gives the opportunity to make any changes. The suggested changes will include the detailed description of the change and the required benefits. All the changes for the project must be documented in the change log for further use.

• Impact Summary
• The changes will occur in the following sections-
  • Benefits that are offered by the project
  • Budget estimation to implement the change
  • Analysis of the resources required
  • Risk associated issues
• Decision

The project manager will review the change request and will make the final descion, he will either defer or accept or reject.

• Change implement

The project manager needs to approve the change, the latest changes needs to be planned and executed and it must be agreed with the stakeholders.

• Change Closure

If the change is implemented, the change request is closed in the log.

The Securities and Futures Commission of Hong Kong license Cornerstone Securities Ltd. The project manager will implement several security related services to enhance the business and offer better services to the customers. At the time of the implementation the test set of the users will be analysed. The analysis will help to know how they can serve the customers better.

The project will be implemented as per project plan prepared by the project manager. The project plan will be implemented as per the deliverables. The following major activities will present the following-

The project stakeholders should work hard and should follow the project plan. The stakeholders must keep in mind the project schedule and budget and must follow accordingly.

References

Aganin, A., 2016. Review of securities class action filings in 2015. Journal of Investment Compliance, 17(3), pp.1-27.

Chandler, W.B. and Rickey, A.A., 2017. The Trouble with Trulia: Re-Evaluating the Case for Fee-Shifting Bylaws as a Solution to the Overlitigation of Corporate Claims.

Fischer-Appelt, D., 2017. Reforming EU securities laws: the new EU Prospectus Regulation. Journal of Investment Compliance, 18(4), pp.53-58.

Fuerman, R.D., 2016. Securities Class Actions Compared to Derivative Lawsuits: Evidence from the Stock Option Backdating Litigation on their Relative Disciplining of Fraudster Executives.

Hopkins, J., 2017. Do Securities Class Actions Deter Misreporting?. Contemporary Accounting Research.

Shea, B.J., 2015. Better Go It Alone: An Extension of Fiduciary Duties for Investment Fund Managers in Securities Class Action Opt-Outs. Wm. & Mary Bus. L. Rev., 6, p.255.

Xu, L., 2015. In re Advanced Battery Technologies, Inc.: How Independent Auditors of Chinese Reverse Merger Companies Avoid Liability in Securities Fraud Litigation. Tul. J. Int’l & Comp. L., 24, p.427.

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