Impact
Priority and Funding
The overall project priority for FIN126 is NORMAL
FIN126 project is a Compliance project, as it supports HMRC-mandated objectives.
This project will also be CORE funded
Impact and Dependencies
A)
- Output from eFinancials needs to be updated by Finance or Advanced so that it fulfils the criteria for Making Tax Digital.
- The University must be Making Tax Digital compliant with regards VAT submission by 1st October 2019
B)
- Availability of Finance resources to support acceptance testing of FIN126 compliance-related updates during the planned period 18/19.
- Availability of Application Services resources to support deployment activities relating to FIN126 changes during 18/19.
- All Business Owners must complete 'As Is' testing and 'To Be' testing as part of final signoff to ensure no inadvertent changes were created as part of the project.
Assumptions
A)
- Solution will be cloud based software (SaaS)
- It is expected that support required from IS for the live solution should be minimal, up to 6 days per year
-
eFinancials should be replaced by the new Core system (Oracle SaaS) in November 2020.
B)
- Outstanding tasks for FIN123 which have been added to Jira project FIN126 will be completed as part of this project
Project Risks
| Ref: | Risk Description | Initial Risk RAG Status | Current Risk RAG Status | Status | Management Approach | Risk Owner |
|---|---|---|---|---|---|---|
| 1 | There is a risk that Arkk software may be unable to fulfil Finance Tax team requirements. | Green | Green | Open | Reduce | Alastair McClelland |
| 2 | There is a risk that Manual intervention may result in MTD non-compliance. | Amber | Amber | Open | Reduce | Douglas Stewart |
| 3 | There is a risk that Arkk software may be unable to support GDPR requirements. | Green | Green | Open | Remove | Douglas Stewart |
| 4 | There is a risk that key Finance resources may not be available as planned | Amber | Amber | Open | Retain | Douglas Stewart |
| 5 | There is a risk that the project may not be completed in this financial year (18/19) | Green | Green | Open | Retain | Douglas Stewart |
| 6 | There is a risk that on-going product support for the Arkk software may not be defined during 18/19. | Green | Green | Open | Remove | Stefan Kaempf |
| 7 | There is that Phase 2 project scope is not defined fully until May 2019. | Green | Green | Open | Reduce | Douglas Stewart |
| 8 | There is a risk that an additional MTD trial of the VAT return process is required in 19/20. | Green | Green | Open | Reduce | Craig Henderson |