BIT 470 ASSIGNMENT 1 Full Time 2024

- Edward should involve brokers in developing requirements for an updated online trading system through questionnaires and interviews with representatives from the company's 30 offices to get diverse input while limiting time spent. - To get customer input, Edward should offer incentives for customers to participate in surveys or focus groups and ensure a representative sample of customers. - When identifying other stakeholders, Edward should consider those who will use and be impacted by the system, such as executives, back office staff, and those representing major customer groups.

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BIT 470 ASSIGNMENT 1 Full Time 2024

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SYSTEM ANALYSIS AND DEVELOPMENT

BIT 470 ASSIGNMENT 1

Email this assignment with a standard cover page to:
[email protected]
DUE DATE: 25 TH February 2024
TIME: 18:00
Three pages minimum and 5 pages maximum, excluding cover page
NO PLAGIARISM

CASE STUDY 1
John and Jacob, Inc.: Online Trading System
John and Jacob, Inc. is a regional brokerage firm that has been successful over the last several
years. Competition for customers is intense in this industry. The large national firms have very
deep pockets, with many services to offer clients. Severe competition also comes from discount
and Internet trading companies.
However, John and Jacob has been able to cultivate a substantial customer base from upper
middle- income clients in the northeastern United States. To maintain a competitive edge with its
customers, John and Jacob is in the process of modernizing its online trading system.
The modernization will add new features to the existing system and expand the range of
interfaces beyond desktop and laptop computers to include tablet computers and smartphones.
The system will add Twitter messaging in addition to continued support for traditional e-mail.
Edward Finnigan, the project manager, is in the process of identifying all the groups of people
who should be included in the development of the system requirements. He is not quite sure
exactly who should be included. Here are the issues he is considering:
■ Users: The trading system will be used by customers and by staff in each of the company’s 30
trading offices. Obviously, the brokers who are going to use the system need to have input, but
how should this be done? Edward also is not sure what approach would be best to ensure that the
requirements are complete yet not require tremendous amounts of time. Including all the offices
would increase enthusiasm and support for the system, but it would take a lot of time. Involving
more brokers would bring divergent opinions that would have to be reconciled.
■ Customers: The trading system will also include trade order entry, investment analysis reports,
trade confirmations, standard and customized reporting, and customer statements. Edward
wonders how to involve John and Jacob customers in the development of system requirements.
Edward is sensitive to this issue because many brokers have told him that many customers are
unhappy with the current system, and customer complaints are sometimes posted to the public
comments area of the current Web site. He would like to involve customers, but he does not
know how.

■Other stakeholders: Edward knows he should involve other stakeholders to help define system
requirements. He is not quite sure whom he should contact. Should he go to senior executives?
Should he contact middle management? Should he include such back office functions as
accounting and investing? He is not quite sure how to get organized or how to decide who should
be involved.

Answer the following questions:

1. What is the best method for Edward to involve the brokers (users) in the development of
the updated online trading system? Should he use a questionnaire? Should he interview the
brokers in each of the company’s 30 offices or would one or two brokers representing the entire
group be better? How can Edward ensure that the information about requirements is complete
yet not lose too much time doing so?
2. Concerning customer input for the new system, how can Edward involve customers in the
process? How can he interest them in participating? What methods can Edward use to ensure that
the customers he involves are representative of John and Jacob’s entire customer group?
3. As Edward considers what other stakeholders he should include, what are some criteria
he should use? Develop some guidelines to help him build a list of people to include.