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MIS611 Information Systems Capstone Assignment Sample

Assessment Stakeholder Requirements Document

Task Summary

This capstone subject encompasses an authentic assessment strategy within a work integrated learning context that delivers a ’real life’ learning experience. You will receive a brief from a case organisation/client
which will form the basis for the three sequential assessments included in this subject. Assessment 1
Stakeholder Requirements Document is the first of three phases in which you, as a team will formulate a group
response to the case organisation/client’s brief.

1. First phase: Assessment 1: In the first phase, you as a team will determine the project approach and
framework, and the requirements of your case organisation/client and complete a 3000-word Stakeholder Requirements Document. Please see below for further details.

2. Second phase: Assessment 2: In the second phase, your group will develop and deliver a prototype solution for the case organisation/client (details as per the Assessment 2 brief).

3. Third phase: Assessment 3: In the third phase, your group will ‘demo’/ showcase your prototype solution to the case organisation/client (details as per the Assessment 3 brief).

You will be required to select a project management approach based on what you believe is the most suitable
approach for your client’s project. In doing so, you will make use of the tools and techniques that are aligned
with the chosen approach including the appropriate requirements lifecycle techniques. Part of this assessment
is also to briefly explain why the selected approach is the most appropriate to meet the needs of your client. In
alignment with your selected project approach and framework, you will need to detail and demonstrate the
requirements methods, tools and techniques that you are using with a justification as to why they have been
selected as the most appropriate.

Caveat: While this subject focuses on three phases of assessment, this does not preclude the selection of an
iterative framework. The structure of the assessment is not one of the characteristics which you should use to
define the selected approach. Also, note that the title of this report specifically does not references typical
document naming conventions within either the traditional ‘waterfall’ approach, nor the Agile approach to
offer you the freedom to make the selection you believe is the most appropriate response to the challenge.


In the field of Information Systems (IS), there are several different frameworks with aligned tools and techniques that can be used to build solutions for organisations. Different frameworks are better suited to
different problems and solutions. For example, the traditional project management approach takes a linear
approach through a sequence of events, while an Agile approach is iterative.

IS leaders need to understand different philosophies and their approaches, their frameworks and the tools and
techniques which they employ. This is so that they can make discerning decisions when selecting approaches
to solve problems for the business. A key outcome of this series of sequential assessments will be for you to
demonstrate your skills in selecting an approach with reasoning and justification, and then follow through by
using the appropriate methods, tools and techniques as a simulation of a real solution delivery for a case

Task Instructions

1. Team Formation and Registration

• Form teams of 5-6 members.

• The deadline for team registration is 11:45pm AEST Friday end of Module 1.2 (Week 2).

• To register your team, you are required to send your Learning Facilitator an email with “[MIS611] Team Registration” in the subject line. In the body of that email, please list the names and student ID numbers of all the members of your team.

• You are required to send the registration email to your facilitator before the registration deadline.

• After the registration deadline, those students who are not in a team will be allocated to a team by the Learning Facilitator.

2. Please read the case organisation/ client’s brief provided by the Learning Facilitator.

3. Write a 3000 words stakeholder requirements document outlining the project approach and framework, and the requirements of your case organisation/client.

4. Review your subject notes, from across the course, to establish the relevant area of investigation that applies to the case. Re-read any relevant readings for this subject. Plan how you will structure your ideas for your report and write a report plan before you start writing. You may like to start with MIS608 Agile Project Management and PROJ6000 Project Management.

5. Graphical representation of ideas and diagrams in the form of tables, graphs, diagrams and modelsare encouraged but must be anchored in the context of the material, explained, and justified for inclusion. No Executive Summary is required.

6. The stakeholder requirements document should consist of the following structure:

A title page with the subject code and subject name, assignment title, case organisation/client’s
name, student’s names and numbers and lecturer’s name.

A Table of Contents is mandatory for this assessment (Create the Table of Contents using MS Word’s
auto-generator. Instructions can be found here https://support.office.com/en-gb/article/Create- a-

Introduction: This must include background information about your case organisation/client as a business from quality sources, and any information about the S direction or strategies that you can gauge from the trade press or news articles. (375 words)

The brief: In this section you must describe and explain your interpretation of the case organisation/client’s brief to you. You are required to outline the following areas:

a. The problem area/scope of the project. (150 words)

b. The objectives of the project using SMART goals. (150 words)

c. The target audience for whom your solution is being defined. (225words)

d. Critical Success Factors. (75 words)

A description of the project: the approach that you will be taking and the associated framework with a justification as to what characteristics of this project informed your selection of this approach. (375 words)

A stakeholder map which identifies key stakeholders, assessing stakeholder interest and how the project will address those interests. (75 words)

The data collection strategy used to elicit requirements - both primary and secondary, quantitative, and qualitative methods and tools in alignment with the project approach. (750 words)

Appropriately documented functionality that will need to be developed in your solution prototype. These may be business and functional requirements, or user stories depending on your selected approach. (750 words)

A clear problem statement to guide the solution process. (35 words)

Next steps to be taken in progressing to your solution prototype. (40 words)

References according to the APA style. (Not part of your word count)

Appendices - if required. (Not part of your word count).


The study has helped in understanding the ways in which money can be reinvented in 2050 in India and the target audience that has been considered is entire India. United Nations in conjunction with International Monetary Fund (IMF) have identified that by 2050 cash will not be available and IMF has thought of reinventing money for different countries (Auer, Cornelli& Frost, 2020). The study has focused on ways in which Central Bank Digital Currency (CBDC) can be implemented within India’s manufacturing industry such as automobile manufacturing. There are various ways through which CBDC can be implemented (De Lis& Sebastián, 2019). Central Bank Digital Currency (CBDC) has been referred to the virtual form of fiat currency and is considered as the digital token of a currency of a nation (Kumhof&Noone, 2018). The suggested product for development of cashless society is the designing of a mobile application through which the payment or transaction can be done digitally. It helps in making the payment in terms of digital currency that will be regulated and released by the central Bank of India. CBDC comes in the form of banknotes and coins along with being used for doing sales as well as purchasing goods. CBDCs are implied so as to present fiat currency and also according to convenience of the users. There will be presentation of security of digital along with having a well-regulated and reserve-backed circulation of the traditional banking system (Auer &Böhme,
2020). It has been observed that there are various types of Central Bank Digital Currencies (CBDCs) and they are Wholesale CBDCs in which the existing tier of banks as well as financial institutions goes for settling transactions.

Brief of the Study

Problem Statement

In the 21st century, cashless society is still a dream however, it is supported by the growth of reinvesting money. It has become difficult to access the transactions of capital in between manufacturing companies with speed (Thequint.com, 2021). There is also the threat of not been able to keep an account of the money being transferred in huge project deals in between manufacturing companies such as Tata, Bajaj. Another problem that will be solved by CBDC in India is that the reliance of the country on cash will be lowered. It has been observed that the Reserve bank of India (RBI) has thought of action plans through which CBDC is going to belaunched in phased manner (Thequint.com, 2021). It will help in solving the problems of getting efficient in international settlements and also achieve smooth functionalities. It will also help in protecting people from the volatile nature presented by cryptocurrencies. Thus, there are problems associated with uncertainties of cryptocurrencies which can be solved with the introduction of CBDC and also cashless society will take place (Thequint.com, 2021). CBDC can be considered as a virtual currency, however, is not comparable with the private virtual ones such as Ethereum or Bitcoin. In India, there is problem associated with dwindling usage of paper currency and there are various jurisdictions associated with physical cash usage (Yanagawa& Yamaoka2019). Central Banks have sought to mee the need of public for having digital currencies and reinvent money through making a cashless society. This problem can be overcome through the help of developing a mobile application through which the digital payment system can be initiated. It has to be linked with the bank account and mobile registration number.

Smart goals

Areas Goal 1: To reduce the dependency on cash

Goal 2: Decrease the settlement risks

Goal 3: To make the transactions using CBDC secure Specific This goal is specific with having a cashless society implemented through help of Central Bank Digital Currency (CBDC) This is specific since with help of CBDC in a country like India, transactions with foreign nations will be easily done This is specific as calibration of the privacy features of CBDC system can be done Measurable It is measurable by
estimating the total
number of usages of
CBDC and digital
currencies by the
population of India
It is measurable through
the help of counting the
reduction of risks that
This is measurable by
estimating the efficiency
of the calibrated system
Attainable It is attainable through
the introduction of
either value-or cash-
based access and
Token-or account-
based access
It is attainable through
engaging in retail as
well as whole sale
CBDCs and also
introduce it within the
manufacturing hubs
It is attainable through
the introduction of a
calibrated privacy feature
and preserve privacy
through making the
Relevant It is relevant since there
is huge pressure on
transactions using cash
It is relevant since there
are various foreign
companies with which
India does business
It is highly relevant as
disbursement happens
through third parties and
require security
Time Period By 2050 By 2050 as the project
of introduction of CBDC is happening in
phased manner

Target Audience

It is worth mentioning that all are living in a cashless society therefore it is our responsibility to contribute to the development of reinventing of money at a large platform. As per the views of Wasieleski & Weber (2017), the internal stakeholders include management, employees, shareholders, investors, and the company itself. Moreover, the management will be able to perform the manufacturing processes and other activities inside the organisation (Seiffert- Brockmann et al., 2018). The target audience consisted of the whole of India. The Digital
currencies issues by the CBDCs are also beneficial in decreasing the effort of Government functions along with ensuring the fact that distribution of benefits as well as tax collection becomes easy. Thus, with help of CBDC ai din going cashless entire India will be benefitted. An Empathy Map can be used to capture the behavior of the user and attitude towards the introduction of a new system or a product. Empathy Mapping has been observed to be beneficial at the beginning of the design process after the user research is done, however, has to be performed prior of getting the requirement as well as conceptualization done. There are certain categories in which an empathy map can be divided and they are what the user says, thinks, feels
and does. [refer to appendix 2] Persona Mapping: Persona Mapping is the process through which it is identified who are the clients and ways in which decisions are being made. The information obtained can be used in making more effective strategies. [refer to appendix 1] Critical Factors of Success

The critical factors of success are measured as follows:

? The proper identification of problem

? Development of the scope for cashless society

? Reinventment in money through CBDCs help to support the development of a cashless society which is beneficial for making the world a technologically developed place.

? The focus on serving for the good of the society and the employees by eliminating the risk of cyber-attacks as well as network vulnerabilities on the transaction of money through digitized system.

Description of the Project

The project is about developing a mobile application through which the CBDC system will ne initiated. The application will be the gateway for making the payment using digital currencies released by the Bank and Government of India. A CBDC or Central Bank Digital Currency system as a result or solution has been identified to be overcoming the issues. A CBDC is a legal tender that is issued by central Bank in digital form (Auer, Cornelli& Frost, 2020). It can be compared or is similar to fiat currency, however, the form is different. The project has been different from that of Bitcoin or any other private virtual currency as it has no issuer, however, in this case, this problem of lack of security is overcame as Central Bank of the country is the
issuer. The product prototype will be designed that will help the individuals in getting the access to digital currencies regulated by RBI. The reason behind taking participation in the project is that with help of introduction of CBDCs the implementation of the monetary policy and government functions become easy (De Lis& Sebastián, 2019). It has been identified to be automating the process of transactions that will take place in between financial institutions and wholesale CBDCs (Kumhof&Noone, 2018). The project will also consider the calibration of the CBDC system.

Therefore, the double diamond theory will be the most applicable and relevant theory.

According to the comment of Gunarathneet al., (2018), double diamond theory always provides a static structure to identify all the potential challenges with the help of four different phases. All those phrases are discovered, defined, developed and delivered. The first phase always helps to identify the exact problem. The second phase helps to determine which area should focus upon.

The third face helps to ensure the potential solutions to mitigate the challenge. The last phase
helps to implement the solution.

Figure 3: Framework of Double Diamond Theory (Source: medium, 2021)

? Discover

In the discover stage as it is stated that the problems are identified appropriately and then the solutions are defined in subsequent stages. It has been identified from the research done that there has been increase in pressure or increased dependency on cash in India. There is also theproblem of higher seigniorage due to the lower value or cost associated with transactionsKumhof&Noone, 2018). The settlement risk associated with transacting through capita is also high. It has to be minimized through the help of using cashless medium if
transactions and is possible through help of Central Bank Digital Currencies (CBDCs) in a country such as India. There is also requirement of meeting the requirements of Indian public regarding digital currencies by the Central Banks of India and this issue has increased with the increase in manifestations of private virtual currencies (Thequint.com, 2021). India has been the leasing the world in terms of digital payment innovations and the payment system has been observed to be available 24/7. Thus, the problem of increasing usage of paper currency needs to be solved with the help of using CBDCs and focus is on developing an electronic form of currency.

? Define

The prototype that will be developed will help the Indian society and the various business happening within it to go for transactions without the need of physical bank notes. The prototype that will be considered is that of making of Fiat money which are introduced by the financial institutions of India. It gets introduced in the form of banknotes and coins (Barontini& Holden, 2019). The CBDC that will be formed is the virtual form of the fiat money and also is going to have the back up support of Indian Government. The mobile application developed will be in synchronization and the digital currency can be used as long as the individual have equivalent cash or money in the bank. The prototype will be designing two variants of CBDCs and this consists of Value or cash-based access as well as Token or account-based access. The system of Value-or cash-based access will be made to pass onto the recipient through help of a pseudonymous digital wallet (Auer, Cornelli& Frost, 22020). Wallet will be made identifiable through the help of a public blockchain. Another prototype that can be designed is that of cash- based access for Indian population (Kochergin&Yangirova, 2019). The process gets initiated similar to that of the access provided by a financial institution account to its users. It has been observed that an intermediary is responsible for verification of the identity of the recipient and will also monitor the illicit activities

Stakeholders Map

Stakeholders Interest Engagement Strategy Indians High More involvement within the banking system and easy transfer of fund Employee High Accessing and utilizing all the components for keeping a track of the cashless transactions Investors Medium Maintaining all the legal and transaction ethics before
accessing the plan Shareholder Low Gather all the potential investors and influence them for corporate decision making regarding the reinvention of money Retailers, business persons and manufacturers
High They will be doing the payment using CBDCs and hence, business can be done with foreign companies

Table 2: Stakeholders Map
(Source: Created by Author)

Data Collection Strategy

It is worth mentioning that the strategy of collecting data is the most crucial factor that has been taken into consideration but the results were performing the study. The strategy which has been selected for gathering the pertinent sources of data influences the factors of quality and authenticity of the report. According to the opinion of Vales (2020), there are major two sources with the help of which the data and information regarding the study can be collected and evaluated by the analyst. The researcher has to choose between these two Strategies for obtaining the relevant sources of information that can be used to make the study effective and informative. The primary strategy for collecting data has also been known as the gathering of raw data. Such
type of information and data has been collected by the research investigator for a specific study (Primary data collection, 2020). In this study, the focus of the research analysis is to obtain valuable information, data, and statistics that can define the importance of reinventing money for the development of cashless society for Tata Motors that can eliminate the negative impact of covid-19 on its manufacturing and business activities

Figure 4: Data Collection Strategy
(Source: Created by Author)

The primary strategy has also been divided into two types that are primary and quantitative primary qualitative. According to the words of Franzitta et al., (2020), it has been found that primary quantitative refers to the statistical evaluation of the data and information gathered by the researcher. Mostly the investigator performs a survey for doing the primary quantitative research. For the survey, the researcher designs a questionnaire that includes a number of questions that specifies the close-ended questions that are filled by the respondent that supports the research topic. Each of the respondents fills the question as per the best knowledge
experience. After the completion of gathering responses provided by the respondents, the researcher evaluates and analyses the result by various methods such as SPSS software or Excel sheet. As per the views of Wilson & Kim (2021), it is worth mentioning that for performing the primary qualitative study, the researcher mostly conducts an interview process which can help to gain information and knowledge regarding the research topic by interviewing the associated people with the research topic. In this study, the associated people are the employees, management, customer, investors, and shareholders.

Similarly, the secondary strategy for collecting the information and data focuses on addressing and evaluating the work of other researchers and investigators that work on a similar topic. As per the comment of Talbert (2019), this will help the researcher to understand the perspective of other analysts that can show their views regarding the importance of reinventing money. It has been identified that the secondary method of obtaining the data is more economical than the primary strategy. It has been said so because during the process of collecting the first handed information the investigator has to spend more time, effort, and money for collecting the data. It also includes the transportation cost and the survey, interview cost.

However, it has been found that for implementing the secondary strategy a researcher has to adopt the secondary qualitative study. As per the guidance of Haenssgen (2019), it has been observed that the secondary qualitative study is on developing relevant themes based on which the researcher can support their findings and evaluation in the study. After evaluating the benefits and rules of working of both the primary and secondary qualitative and quantitative data, the researcher will implement the secondary qualitative research for gathering valuable and authentic resources of the secondary database.

Documented Functionality

In this section, all the business and functional requirements that will help manufacturing companies to implement the cryptocurrency enabled cashless transaction is going to be discussed. All the potential functional requirements that the management of this organization will have to perform is to arrange some meetings with all the responsible employees and managers and discuss the comparison between the cashless modes of transactions (Auer&Böhme, 2020). It is worth mentioning that effective strategies should be implemented in order to identify the potential challenges that may impact the productivity and growth of cashless infrastructure (Kumhof& Noone,2018). After that identifying all the potential shareholders and
influencing them for this plan willbe the next functional requirement. According to the opinion of Marques et al., (2018), identifying all the investors with a proper determination regarding this plan will be one of the most important functional requirements of shareholders. There are certain examples of Central Bank Digital Currencies (CBDCs) that can be given and it has been observed that the Central Banks have initiated various pilot programs (Kumhof&Noone, 2018).

India can take inspiration from the fact that China has introduced digital yuan. Russia has also created the CryptoRuble and similar technology can be deployed within India to make the society cashless. India will require to have a digital version and the banks will be converting a part of their holdings into digital form. The digital monetary or the capital will be distributed to various business organizations and people of the country through help of mobile technology (De Lis& Sebastián, 2019). It can be observed that the largest difference in between cryptocurrencies and CBDC is that of the legal status as the later is more secured. Indian population will be benefitted as CBDC can be used as a payment mechanism and will be considered as an acceptable ledger system. In addition to this, CBDC will provide the advantage of being governed by Indian Government and is not anonymous.

There are two types of functionalities through which the CBDCs can be developed and they are Wholesale as well as Retail Central Bank Digital currencies. It can be stated that the Wholesale CBDCs uses the existing tier of banking as well as financial institutions so that transactions can be settled. This type of CBDC has been considered as traditional central bank reserves. The type of CBDC transaction that can be possible is that of interbank payment and transfer of capital takes places in between two financial institutions (De Lis& Sebastián, 2019). With help of CBDC, the process of cross-border transfer as well as automation is possible. There is also Retail CBDCs that involves transfer in between financial institution. The CBDC process that will be developed in India at first is that of retail one in which there is replacement of cash (Kumhof&Noone,2018). There must be caps imposed on the CBDC so that the banks are saved from having drainage of liquid fund. Digital tokens will be given to bearers and hence, identity verification will be conducted in an effective manner.


Thus, it can be concluded that this entire report has been formulated to describe a suitable reinvention plan of money by 2050. The target audience is the entire population of India and it has been observed that they will be benefitted with the help of CBDC as involvement within the banking system will get improved. It has been observed that with help of CBDC, the pressure on the use of physical notes will get decreased and also the drainage of liquid capital from banking sector will be removed. Furthermore, it can be stated with help of CBCD, there will be safer transaction of assets across borders and the system developed will be mainly token-based in the initial stage and then it can be developed in a hybrid model.

Reference List

Thequint.com, (2021), What is CBDC? Why Do We Need It in India?,https://www.thequint.com/explainers/explained-what-is-cbdc-why-do-we-need-it-in-india

Yanagawa, N., & Yamaoka, H. (2019). Digital Innovation, Data Revolution and Central Bank Digital Currency (No. 19-E-2). Bank of


Auer, R. A., Cornelli, G., & Frost, J. (2020). Rise of the central bank digital currencies: drivers,approaches and technologies (No. 8655). CESifo Working Paper.https://www.econstor.eu/handle/10419/229473

De Lis, S. F., & Sebastián, J. (2019). Central Bank Digital Currencies and Distributed Ledger Technology. https://www.bbvaresearch.com/wp-content/uploads/2019/11/Banking-Lab-DLT-CBDCs_edi.pdf

Kumhof, M., &Noone, C. (2018). Central bank digital currencies-design principles and balance sheet implications. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3180713

Auer, R., &Böhme, R. (2020). The technology of retail central bank digital currency. BIS Quarterly Review, March. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3561198

Barontini, C., & Holden, H. (2019). Proceeding with caution-a survey on central bank digital currency. Proceeding with Caution-A Survey on Central Bank Digital Currency (January 8, 2019). BIS Paper, (101).

Kochergin, D. A., &Yangirova, A. I. (2019). Central bank digital currencies: key characteristics and directions of influence on monetary and credit and payment systems. Finance: theory and practice, 23(4),8098.

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Franzitta, V., Longo, S., Sollazzo, G., Cellura, M., &Celauro, C. (2020). Primary data collection and environmental/energy audit of hot mix asphalt production. Energies, 13(8), 2045–2045.

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Marques, T., Nguyen, J., Fioreze, G., &Petreanu, L. (2018). The functional organization of cortical feedback inputs to primary visual cortex. Nature Neuroscience, 21(5), 757–764.https://doi.org/10.1038/s41593-018-0135-z

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Sharma, D., & Swami, S. (2018). Information Security policies Requirement in Organization. International Journal on Future Revolution in Computer Science & Communication Engineering, 4(1), 431-432.

Talbert, E. (2019). Beyond data collection: ethical issues in minority research. Ethics & Behavior, 29(7), 531–546.https://lesa.on.worldcat.org/v2/oclc/8260802315

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