Section one: Organizational review
My organization is an example of a consumer e-commerce company that is under the travel industry. It’s an online travel agency that provides different types of tour packages to clients according to their desires and needs in the whole global market. Our travel agency’s definition of success is ensuring that there is customer satisfaction to a point that they feel they are at home while traveling with us. We decided to venture into blockchain technology because it doesn’t rely on authorities to offer an immutable ledger of data.
Blockchain ensures there are digital financial transactions between a company and client without intermediaries and that the main reason for venturing into it. For blockchain to be termed as a success in our company it must meet these goals which are; static registry whereby it will store all records for purposes of reference, should be reliable for identity purposes like storing data relating to frauds, police records and voting, smart contracts whereby here certain conditions are set for validation of the transaction and payment strategy that will update Bitcoins payments when they are made.
Section two: Blockchain environment review
Blockchain has decided to implement a Bitcoins type of blockchain technology. Bitcoins are a digital currency during encryption it is kept secure. It is not like the traditional fiat currencies, it is a decentralized distributed ledger and therefore most of the traveling agents are using it. Blockchain implementation is important for our company for several reasons, that are; with blockchain payments in our company will be easier because travel agencies can use it along with corporate travel. Some backs are exchanging bitcoins into physical money which can be used everywhere in the world. Payment for trips using bitcoins is more secure for your travel since it is secretive thus maintaining financial security. Since Bitcoins can be acceptable to purchase airline tickets, therefore, the digital currency can now be exchanged for physical service. To provide security for our blockchain we choose to rely on decentralized network governance.
Section three: project review
This project is based on planning on how to implement blockchain technology in our company for us to achieve our goals as a team in the company. Blockchain technology is a data storage system that is fully decentralized that spreads among all participants. Our main application for blockchain technology is the transaction of payments. Blockchain will simplify our financial transactions between us and our clients are still will ensure that the payments are secure. We will not only use it for payments but also track luggage, identifying services, and still running our customer’s loyalty schemes so that we can encourage them to come back again.
Section four: project charter
- Reasons for engaging in this project
The main reason our company decided to engage in this project was the following; firstly, blockchain creates a decentralized market which is almost the same as a democratized market. Secondly, this system can’t be easily be manipulated because it is controlled by everybody who is involved. Thirdly, we will cut costs and increase efficiency because there won’t be intermediaries anymore. Lastly, set up cost for blockchain is low when you compare with Expedia and still, it could help us to be able to implement loyalty rewards easily.
- Project objectives
Our main objective of this project is to be able to avoid spending double since blockchain can prevent this by confirmation of the transaction by several parties before writing actual transactions to the ledger.
- Project constraints
Although we are planning on how to implement blockchain there are certain constraints associated with it, which are; entries of blockchain don’t last forever, there is excessive use of energy in blockchain, the providence of network security is a challenge and lastly, blockchain is not a large distributed computing system.
- Project stakeholders
In our project, we have four stakeholders which are from the top layer which is the application layer. They are corporations, entrepreneurs, end-users, and investors. Entrepreneurs are those people who build products and applications by utilization of networks from the blockchain. Corporations are stakeholders who usually have a mission of using blockchain technology to solve problems through the creation of business strategies. End-user is the person who usually uses the service or application. Investors are organizations and people who provide capital for the creation of the blockchain.
- Project scope
The scope of our project only covers what blockchain will provide in our company which is the transaction of payments securely.
- Project risks
Firstly, we have a policy and regulatory risks because blockchain is still growing therefore hacking and fluctuations in Bitcoin price have resulted in regulation by some countries. Secondly, malicious users whereby since the system is not accessed by a third party, therefore, it can be accessed by malicious users. Lastly, disclosure of the identity of an individual when it is required by law is hard which will create security constraints by law enforcers.
- Project benefits
Implementing this project will bring some benefits to our company like; data won’t be altered because blockchain has an append-only data structure. This technology still will allow verification of transactions without depending on third parties. lastly, it uses cryptography to ensure data ledgers are secured.
- Project cost
Development of blockchain technology in a company approximately fifteen thousand dollars to fifty thousand dollars to cover all expenses until implementation.
Section five: Deliverables
These are the artifacts that will be delivered to our customers are the end of the project; displacing of online books firms that are very expensive by using blockchain technology, the customer will get better guidance on choosing where they want to travel to and how to pay for, we shall add assurances to our customers by avoiding the stress they used to undergo by losing hotel bookings.
Section six: Critical success factors
This the criterion to know if deliverables are acceptable; first consider if it’s unique by comparing our blockchain offers its services is new. Secondly, does this service has a timeframe that is limited which is the start date and the end date of the project. Thirdly, whether there is a way of determining when there is the completion of the project. Lastly, is there a way of knowing the satisfaction of the stakeholder whereby their expectations will be compared with the finished service.
Section seven: Work breakdown structure
The following are the steps of blockchain from implementation to end-users;
- Ensure that all deliverables and documents are up-to-date.
- Make confirmation of customer’s formal acceptance of all deliverables
- All projects costs should be charged
- Ensure closure of project accounts
- Personnel can be reassigned and have a reallocation of the project equipment
- Elaboration of all final project reports.
- Confirmation of seller’s work formal acceptance.
Section eight: Quality plan
The following are ways to measure and ensure quality standards of this project; first, clarification of mission, vision, and values of the project to the employees. Secondly, identification of the success factors that are critical like customer satisfaction. Thirdly, identify the group that has main customers like suppliers. Lastly, after measuring quality you should create a plan for improvement on customer’s feedback. The company’s quality metrics are performance, size of clients, and quality of services. For the company to maintain quality will commit and manage quality, have quality assurance performance, have control on quality, and will follow all process of the project.
Section nine: Operationalization plan
After the implementation of the blockchain project, you have to come to completion where you hand it to your stakeholders by ensuring that they are satisfied and you have met acceptance criteria. The main activities that take place are the dissemination of the data for project formal acceptance and then practice disclosure of the project. Before handing the application seller, you have to note the completion contract in your project records copy. If the expectations of the project on the service are accepted, a notice that is formally written is required from the seller and then now you will have completed your project.