Strait of Hormuz - History and Importance

The Strait of Hormuz is a strategically important strait or narrow strip of water that links the Persian Gulf with the Arabian Sea and the Gulf of Oman (map). The strait is only 21 to 60 miles (33 to 95 km) wide throughout its length. The Strait of Hormuz is important because it is a geographic chokepoint and a main artery for the transport of oil from the Middle East. Iran and Oman are the countries nearest to the Strait of Hormuz and share territorial rights over the waters. Due to its importance, Iran has threatened to close the Strait of Hormuz several times in recent history. Â   Geographic Importance and History of the Strait of Hormuz In 2011, nearly 17 million barrels of oil, or almost 20% of the world’s traded oil flowed on ships through the Strait of Hormuz daily, for an annual total of more than six billion barrels of oil. An average of 14 crude oil ships passed through the strait per day in that year taking oil to destinations such as Japan, India, China and South Korea (U.S. Energy Information Administration). As a chokepoint the Strait of Hormuz is very narrow – just 21 miles (33 km) wide at its narrowest point and 60 miles (95 km) at its widest. The widths of the shipping lanes however are much narrower (about two miles (three km) wide in each direction) because the waters are not deep enough for oil tankers throughout the strait’s width. The Strait of Hormuz has been a strategic geographic chokepoint for many years and as such it has often been the site of conflict and there have been many threats by neighboring countries to close it. For example in the 1980s during the Iran-Iraq War Iran threatened to close the strait after Iraq disrupted shipping in the strait. In addition, the strait was also home to a battle between the United States Navy and Iran in April 1988 after the U.S. attacked Iran during the Iran-Iraq War. In the 1990s, disputes between Iran and the United Arab Emirates over control of several small islands within the Strait of Hormuz resulted in further treats to close the strait. By 1992 however, Iran took control of the islands but tensions remained in the region throughout the 1990s. In December 2007 and into 2008, a series of naval events between the United States and Iran took place in the Strait of Hormuz. In June of 2008 Iran asserted that if it were attacked by the U.S. the strait would be sealed off in an effort to damage the world’s oil markets. The U.S. responded by claiming that any closure of the strait would be treated as an act of war. This further increased tensions and showed the importance of the Strait of Hormuz on a worldwide scale. Â   Closure of the Strait of Hormuz Despite these current and past threats, the Strait of Hormuz has never actually been closed off and many experts claim that it will not be. This is mainly due to the fact that Iran’s economy depends on the shipment of oil through the strait. In addition any closure of the strait would likely cause a war between Iran and the U.S. and generate new tensions between Iran and countries like India and China. Instead of closing the Strait of Hormuz, experts say it is more likely that Iran will make shipment through the region difficult or slow with such activities as seizing ships and raiding facilities. To learn more about the Strait of Hormuz, read the Los Angeles Times’ article, What is the Strait of Hormuz? Can Iran Shut Off Access to Oil? and The Strait of Hormuz and Other Foreign Policy Chokepoints from US Foreign Policy at About.com.

Shirley Jackson’s Constant Battle of Self Satisfaction

Noted by Darryl Hattenhauer, Shirley Jackson, an American gothic author, was ranked among Americas most highly regarded fiction writers during the 1940s, 1950s, and 1960s (1). Jackson argued that â€Å"a good story must engage its reader, persuade him that he wants to belong in the story for as long as it lasts† and if the author fails to provide such experience then they can consider their work a failure (Hall 113). The idea of authors providing an experience of enjoyment, made Jackson a successful writer. She also believed that if an author is asked where their ideas come from they would simply â€Å"find [themselves] telling over, in some detail, the story of [their] life† (Hall 117). Jackson’s continuous refusal to agree with her mother’s†¦show more content†¦Mr. Summers is hesitant and even asks Mrs. Dunbar, â€Å"Dont you have a grown boy to do it for you, Janey?† Here Mr. Summers, even though not specifically stated, implies that a w omen was not capable of picking out a ticket for the family, it’s a man’s job to carry out such task. As the lottery continued, Mr. Summers didn’t hesitate when Watson, a young boy, was going to draw for his mother and himself. He was complimented rather than questioned by Mr. Summers as he stated, â€Å"Glad to see your mothers got a man to do it.† Again, emphasizing the idea that it was more appropriate for a man to do this job even if that man was a young inexperienced boy. Influenced by the refusal of how woman should portray themselves, Jackson’s stories included many women references that began with the disagreements of her mother’s beliefs regarding the typical woman. The repeated struggle against depression influenced many of Jackson’s stories. Since childhood, Jackson suffered from anxiety about her personal appearance leading her to believe she was an outcast. Though depression must have been a tough challenge, the benefit of her isolation was the skill she mastered of being a writer. Isolating herself in 1936, â€Å"Jackson withdrew from the university and spent the next year at home† in which during that period â€Å"she became a meticulous and disciplined writer† (Shirley Hardie Jackson par 1). As Jackson aged, her

Finance and Law Money Laundering and New Payment Methods Free Essays

Executive Summary In recent times, new and innovative methods enabling funds transfer through electronic methods across the borders have increased. These have opened new opportunities for money laundering and the financing of terrorism. As a result, this report explores the issues surrounding NPMs (New Payment Methods) and as such it has explored non-face-to-face typology as one of the most abused NPM typologies. We will write a custom essay sample on Finance and Law: Money Laundering and New Payment Methods or any similar topic only for you Order Now Moreover, the vulnerabilities the NPM could expose in relation to the firm and its products such as fraud, reputational, legal and operational risks have been discussed in detail. Outstandingly, special considerations that NPM should include in their AML systems have been identified with the likes of data encryption, antispam, antiphishing and privacy policies along with limitation of the accessibility of personal data. Again, measures like setting out in the law the customer Due diligence measures, have been identified as effective tools directed towards the regulation and guidance relating to NPMs in order to better protect the firm and the customer, from the risks associated with the new payment methodologies. Introduction In the modern times, new and innovative methods of funds transfer through electronic methods across the borders have increased. These have opened up new opportunities for money laundering and the financing of terrorism. Following this point, the FATF (Financial Action Task Force) Typologies Report of 2006 on New Payment Methods (13th October 2006) recognized the emergence of the new payment methods as being far different from the traditional methods of money transfer. With the emergence of the new and innovative methods of cross border money transfers, AML (Anti-Money laundering) vulnerabilities increased. Subsequently, FATF published their report â€Å"Money Laundering Using New Payment Methods† (2010), which revealed the potential risks of money laundering and the financing of terrorism using the New Payments Methods. Furthermore, the report revealed the actual risks through an analysis of new case studies along with the particular typologies. In the light of this point, the purpose of this report is to remind the regulatory Authority department of the issues surrounding NPMs. In connection to this point, an example of a NPM typology will be given explaining its mode of operation and its vulnerability to money laundering through a financial firm and its products. Accordingly, the report will identify and as such determine special considerations that NPM providers need to include in their AML systems in order to combat the abuse of NPMs through money launderings. Moreover, the report will reveal the measures which, if considered and implemented would improve guidance and regulation to NPMs translating to better protection of the firm and its customers. NPM Typology 2: Non-face-to-face NPM accounts Basically, typology two describes a model through which most NPMs rely on and as such it is a business model where minimal face to face interaction is utilized or it is absent. In the light of this point, Internet payment services (IPS) such as PayPal and moneybookers among others as such together with prepaid cards (MasterCard, Visa Electron, Maestro, etc) are utilized (Paulus, Pohlmann Reimer 2005). Under this typology, online banking, prepaid internet payment products and digital currencies are commonly used. Notably, the non-face-to-face nature of most NPMs can facilitate cases of money laundering through the abuse of the system by the criminals. On the other hand, typology one has to do with third party funding whereby cards can be funded through the bank, cash and person to person transfers. Additionally, there is the third typology (complicit NPM providers or their employees).There is also a high risk as portrayed in findings made in the past of IPS and prepaid card providers who were controlled by criminals and as such promoted cases of laundering How Non-face-to-face NPM accounts can be utilized for money laundering and terrorist financing purposes According to Financial Action Task Force (2006), several cases were brought out through which NPM products were used to launder illegitimate proceeds. This was accomplished by theft of identity together with money being stolen from bank accounts or credit and debit cards through the use of computer hacking. It was also accomplished through phishing, which describes a fraudulent e-mail designed to bring about the theft of information or identity. Owing to such abuses, the criminals managed to hack through the computers with such information and as a result, bank accounts, credit and debit cards were used as reference translating to funding of IPS or prepaid card accounts (FATF Report 2010). In such a case, it is not easy to determine or rather detect a suspicious activity. Likewise, the non-face-to-face typology facilitated money laundering through fake and stolen identities being used to create NPM accounts. In such cases, IPS or prepaid cards are used as transit accounts for the financing of terrorists’ activities and money laundering. Therefore, a firm wishing to offer NPM as one of its products, should critically consider the way NPMs makes AML systems vulnerable to money laundering activities. It is important to take note of the fact that most of the services offered in this typology are virtual in the sense that the customers dealt with are virtual and in such a case cross-border transfers are common. So to speak, identification, verification and monitoring systems should be implemented in such a manner that they can detect any form of money laundering. However, this may be limited by the fact that credit risk does not exist in this typology (FATF Report 2010). Therefore, the service providers may not be so concerned with the money laundering activity detection since this may not bring about credit risks to them. Vulnerabilities the NPM could expose in relation to the firm and its products A firm offering NPM products and services should be careful of misuse and abuse by criminals and terrorists since the typology deals with virtual customers. In actuality, a firm offering such a service or product should understand the risk of exploitation of the non-face to-face nature of NPM accounts whereby criminals may use fake identities, documents or stolen identities and documents (FATF Report 2010). The firms should understand the exposure of the firm and its products to money laundering activities carried out by hacking and phishing of account information and identities (Bidgoli 2006, p.399). In reality, the firm venturing in such a business should ensure that it has functional identification, verification and monitoring systems in order to avoid the risks associated with such dealings. Such risks involve the reputational implications if customer’s accounts are hacked. In the same manner, the firm should be careful of operational risks which refer to the loss incurred as a result of failed or inadequate processes, systems, external events and people involved (Bidgoli 2006, p.399). In addition, there is also a legal risk if the identification, verification and monitoring systems are not implemented with tight surveillance to detect illicit activities by terrorists. In particular, a legal risk has to do with the potential for law suits once involved in a money laundering case. Again, it may result in sanctions, unenforceable contracts, penalties and fines which may translate to significant financial costs (Steiner Marini 2008). Furthermore, the institution’s licences may be revoked and this may lead to the closure of the institution and as such, may be expensive for the institution since the losses involved may be costly (Fagan Munck 2009). Special considerations that NPM providers need to include in their AML system Following the increased use of NPMs, service providers should reform and as such restructure their AML systems from the traditional way of operation to a more modern one. In this sense, NPM providers need to involve verification, identification and monitoring systems to track records even in the real time. In line with this point, NPM providers should install anti-phishing mechanisms during login and as such, personalized images next to password prompts should be implemented (Moore 2010, p. 145). As a security measure, TLS Encryption and authentication should be applied by NPM service providers. In the same line of thought, NPM providers should also employ antispam policies and as such, employees should be restricted from interfering or rather exposing personal information of the accounts of the customers (Moore 2010, p. 145). In essence, controls to combat the abuse of the NPMs and counteract any potential risk to the firm should begin with customer due diligence (CDD). In line with this point, use of ATMs, prepaid cards, mobile and internet banking has presented a great opportunity for money launderers. However, there are some countermeasures that can prove viable. For instance, one countermeasure may be the implementation of robust identification and verification procedures (FATF Report 2010). In spite of the challenges associated with the use of NPMs, it is important to note that the electronic records produced in this case can help with law enforcement (Marks et al. 2012). Essentially, NPM providers should include a robust identification system and as such, should not allow a double holding on accounts by one user. This is to suggest that they should ensure that there is no confusion of identities. This is given to the reason that some individuals may hold several accounts under the same identity. At the same time, NPM providers should place limits on the transaction amounts and frequency and as such should include strict systems of monitoring on these aspects. Along with this point, Simplified due diligence, digital currency, and suspicious transaction reporting in cross border cases, and law enforcement against foreign providers with identification of secondary card holders should be applied (FATF Report 2010). As earlier on mentioned, CDD should be carried on the customers even if they are not in face to face contact. This can be accomplished by ensuring that the names of the customers are known, the location, country of origin, web data sources verified and as such customer contacts taken into consideration (Demetis 2010, p.64). One should also consider using financial transaction records of the particular customers from wherever the place in the world. For instance, moneybookers (Skrill) in its verification of identity, will ask for the name of the customer, verification of the identity through a scanned national identity card, address and location and they also ask for a utility bill, bank statement, passport or driving license, with which it is meant to verify one’s identification (Janczewski 2008). Obtaining such information may not be easy but it can be made possible by employing various agencies and expertise from around the world. This is due to the fact that customer base is worldwide and as such, national cultural understanding would be of paramount importance. Specific considerations NPM providers need to include in their AML system Therefore, the following considerations should be included in AML systems for a firm wishing to work as a NPM provider: The AML system should contain effective policies, procedures and processes while carrying out the identification and verification of the customers. It should as well contain protective measures such as personalized images next to password prompts in the case of internet based payment methods along with data encryption, antispam and antiphishing policies. Protective measures should as well be put in place within the web system and the computers themselves which contain personalized details and information in order to counter the hacking of computers. The AML system should as well ensure compliance with the legislative laws where applicable since some of the NPMs do not have clear provisions as far as compliance with the law is concerned Representatives from various parts of the world should be involved in the AML system in order to help in carrying out of CDD. This has the advantage of ensuring the right data sources are provided along with the verification of their authenticity (Rosenbloom 2002). AML system should involve a group of experts in human resource, IT (information technology) and experts with good knowledge of national culture just to mention a few (Rosenbloom 2002). This has the advantage of ensuring that the NPM provider operates competitively. The AML system should as well put flexible procedures in order to cope with the changing environmental factors since the legal framework for the operation of NPM providers is not well established. Risks involved in NPM business From a broader point of view, considerations that NPM providers need to include in their AML system range from law, human resources and various technologies among others as such. In this respect, it should be clear to NPM providers that engaging in NPM products calls for tight surveillance owing to its vulnerability to money laundering and the financing of terrorist activities. Again in this context, NPM providers should be careful with regards to how they carry out their CDD along with the whole operation of their AML systems. This is given to the reason that there are various risks associated with failure to carry out an effective Customer Due Diligence (Steiner Marini 2008). In particular, NPM providers, if caught in money laundering and/or financing of terrorist scandal, are faced with a considerable reputational risk. Following the globalization of businesses, global financial systems operate with clients from all over the world. In this context, it is important to note that if CDD measures are not appropriately applied, then, this gives an opportunity for various losses. As such, failure to conduct CDD can lead to a reputational risk which translates to adverse publicity as far as the practices of the business are concerned. Inaccurate application of CDD measures may in this case lead to a loss of public confidence and as a result, may jeopardise the integrity of the institution. Subsequently, borrowers, investors, depositors and other stakeholders may cease business with that institution should scandals arise (Booth et al. 2011). Apart from this point, AML system failure may lead to law suits whereby the particular NPM provider may be sued for facilitating money laundering. This is due to the fact that the institution has the obligation to conduct CDD and thus should be able to prove to any third party proof that every effort has been made to ensure CDD is carried out (Steiner Marini 2008). Similarly, if CDD were to fail, in such a case it would be advisable for the AML to close the account of that particular customer and as such to decline establishing a business relationship whilst ensuring that a suspicious transaction report is made. In view of that, any AML systems implemented should be in line with the law. At the same time, it should not leave gaps while carrying out Customer Due Diligence since this may result into operational risks (Booth et al. 2011). This has subsequent consequences of the suit by law and financial costs. A continued monitoring of the customers should be ensured and as such, this will help NPM providers to avoid cases of computer hacking, multiple accounts by the same Identity, fake identities, stolen identities and in the larger perspective this would prevent phishing of the customer accounts and information altogether. NPMs and the Law Notably, with an institution intending to make the use of NPMs, money laundering may be inevitable. NPMs are well known for their vulnerability to money laundering and terrorist financing. Use of ATMs, prepaid cards and mobile and internet banking has given a great opportunity for money launderers although there are some countermeasures that can prove viable. In this connection, one countermeasure may be the implementation of a robust identification and verification procedure (FATF Report 2010). Especially with the non-face-to-face typology, robust identification and verification would be of a supreme importance. In line with this point, limits on the transaction amounts and frequency should be monitored with strict systems of observation. In fact, not all NPMs are subject to law in all authority and as such, they take in the use of internet and mobile payment. Most of the NPM providers provide their products or services through both internet and mobile (i.e. virtual world) systems and the FATF recommendations do not specify the specific risks involved and as such, NPM providers may not apply the CDD measures (FATF Report 2010). In spite of the challenges associated with the use of NPMs, it is important to note that the electronic records produced while carrying out transactions can help to carry out law enforcement. Importantly, a firm seeking to provide NPM as one of their services should consider the fact that there are three typologies depending on which one chooses to use. As such, the first typology has to do with the third party funding whereby cards can be funded through the bank, cash and person to person transfers (FATF Report 2010, p.36). Furthermore, there is the second typology which takes in the exploitation of the virtual nature (non- face-to-face) of the NPM accounts (FATF Report 2010, p.40). This typology has the highest potential by its ability to facilitate criminals in money launderings. On the other hand, if the firm chooses the third typology (complicit NPM providers or their employees) there is also a high risk as portrayed in findings made in the past of IPS and prepaid card providers who were controlled by criminals and as such promoting cases of laundering (FATF Report 2010, p.33). In order to better protect the firm and the customer, from the risks associated with the new payment methodologies, new laws and regulations should be implemented in order to regulate the NPMs operations. Again in this context, measures such as the implementation of anti-phishing measures should be put in place. As such, it should be provided by the law that if they are not implemented, law suits should be applied. Besides this point, antispam policies (softwares, hardware and processes) directed towards combating proliferation of spam or keeping spam from entering the system should be implemented (Moore 2010). Equally important, measures to protect computers with personal details should be protected from hacking. Accordingly, for non-face-to-face NPM accounts, there should be provisions in the law to ensure that firms comply and as such put in place measures to prevent the cases of hacking, phishing just to mention a few. In the same line of thought, if implemented, tight surveillance within the various websites present in the internet should be carried out and as such, it should be a provision of the law for every NPM provider to carry out such surveillance. This can be possible in a virtual world through representatives in various countries with expertise in both identification and verification of data sources (Rosenbloom 2002). Technologies such as firewall, encryption of data, limiting accessibility to customer data and the development and implementation of privacy policy are of paramount importance as measures for combating activities of money laundering and financing of terrorist activities (Rosenbloom 2002). With such measures in place, both the firm and the customer can be protected from the risks associated with the new payment methodologies. Currently, where the regulation of NPM service providers is active, law enforcement agencies, supervisors, and legislators, among others as such, are faced by various challenges some of which include simplified due diligence, digital currency, and suspicious transaction reporting in cross border cases and law enforcement against foreign providers with the identification of secondary card holders among others as such. Therefore, the most important thing to do is to ensure that the requirement for implementation of AML systems for each NPM provider is set out in the law. At the same time, firms providing NPMs and the customers can be better protected if the regulatory authorities would set it out in the law that all NPM providers apply data encryption, anti-phishing, privacy and antispam policies and limitation of data accessibility. Conclusion The report has identified several considerations NPM providers need to include in their AML system in order to combat the abuse of the NPMs and counteract any potential risk to the firm. Non-face-to-face typology has been identified as one of the examples that is mostly utilized and as such the most vulnerable to abuse by money launderers and criminals. As such technologies such as data encryption, establishment of antispam, antiphishing and privacy policies have been identified as effective tools for combat. Limited data accessibility should be incorporated in order to ensure the protection of customer information and private details. In order to improve on regulation and guidance relating to NPMs and to better protect the firm and the customer from the risks associated with the new payment methodologies, measures directed to this effect should be set out in law. Again, identification and verification of data sources through representatives in various countries across the world in order to ensure the authenticity of various documents is an important tool and a consideration that NPM providers need to include in their AML system in order to combat the inherent money laundering vulnerabilities of the system. References Bidgoli, H 2006, Handbook of Information Security, Threats, Vulnerabilities, Prevention, Detection, and Management, John Wiley Sons, New Jersey Booth et al. 2011, Money Laundering Law and Regulation: A Practical Guide, Oxford University Press, New York. Demetis, DS 2010, Technology and Anti-Money Laundering: A Systems Theory and Risk-Based Approach, Edward Elgar Publishing, Massachusetts Fagan, GH Munck, R 2009, Globalization and Security: Social and cultural aspects. Introduction to volume 2, ABC-CLIO, California FATF Report 2010, Money Laundering Using New Payment Methods, Retrieved on 20th April, 2012 from http://www.fatf-gafi.org/dataoecd/4/56/46705859.pdf. Financial Action Task Force 2006, Report on new payment methods, Retrieved on 24th April, 2012 from http://www.fatfgafi.org/media/fatf/documents/reports/Report%20on%20New%20Payment%20Methods.pdf Janczewski, L 2008, Cyber Warfare and Cyber Terrorism, Idea Group Inc (IGI), Hersbey, PA. Marks et al. 2012, Middle Market M a: Handbook for Investment Banking and Business Consulting, John Wiley Sons, New Jersey Moore, T 2010 Economics of Information Security and Privacy, Springer, New York. Paulus, S, Pohlmann, N Reimer, H 2005, ISSE 2005: Securing Electronic Business Processes: Highlights of the Information Security Solutions Europe 2005 Conference, Springer, New York. Rosenbloom, AH 2002, Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances, John Wiley Sons, New Jersey. Steiner, H Marini, SL 2008, Independent Review for Banks – The Complete BSA/AML Audit Workbook, Lulu.com, North Carolina. Tabb, WK 2004 Economic Governance in the Age of Globalization, Columbia University Press, New York. How to cite Finance and Law: Money Laundering and New Payment Methods, Essay examples

Cloud Project Management in Sentosa

Question: Discuss about the Cloud Project Management in Sentosa. Answer: Project Risks Known Issues: Risk Impact Solutions Different market for local and foreign people. Medium 1. Two separate options will be given at the time of buying packages. 2. The tourists will be making bookings as per their need. 3. The foreigners will be receiving discount on packages of staying on the island. 4. The locals will receive discounts according to the amount of attractions they visit. 5. Terms and conditions will be applied to the discounts. 6. The amount of purchase of services will be stored in the cloud database against individual employees (Marosi, Kovacs and Kacsuk 2013). 7. Each of the counters can access the cloud database and apply discount as per the information. Difficulty in terms of navigation at Santosa High 1. The system will be consisting of a map which will provide the option of navigating the local areas. 2. Direct links will be provided to redirect to the most popular regions. 3. The cloud will store the name of the places that the user has checked in the cloud (Dinh et al. 2013). 4. The promotion will be done regarding the places that the user has not seen. 5. As the clod based database will hold all the data and provide it at any time, the information gathered from counter will be used to analyze the most checked places by individual user (Xu 2012). 6. Special maps of the distinct regions will be provided to the user through the system. Data harnessing High 1. Architects, system administrators and developers for both the Cassandra and Hadoop will be hired (Dede et al. 2013). 2. Data clusters will be developed, tested and integrated. 3. Genuine value can be gotten from top of the line investigation that can be performed on the expanding volumes, speed and assortment of information that associations are producing - likewise alluded to as large information examination. 4. The way that most fleets consolidate no less than two distinct brands of trucks can be utilized as an information advantage. With one dashboard, it's conceivable to stack the data of the distinctive sorts to think about their execution on the same course and discover which one is the most proficient. Highly competitive and price sensitive market. Medium 1. The entire business will be transformed to the internet. 2. The online information access characteristics will facilitate the business. 3. The cloud system will manage the database automatically (Chung, Jeon and Seo 2014). 4. As the cloud can provide the real time data to the end user, the management will get proper information of the market at all the time. 5. The real time and accurate information gathering will assist the management to predict the future market situations. Classification of attractions Low 1. The cloud system will be consisting of an option of selecting attractions separately at the time of booking. 2. As cloud system will decrease the cost of operations the charges on the attractions, owned by Sentosa will be minimized. 3. The system of the other attractions will be connected to the system of Sentosa. 4. Through cloud system the information of booking attractions will be transferred to every counter and other attraction owner. 5. Clash in booking will be reduced to almost zero percent through this information sharing. No connection between the ticketing system and membership database High 1. As all the databases will be associated with the cloud system, the databases will be lined with all the required units of the system. 2. The integration point of database with the cloud system will be managed very carefully. 3. The real-time information will be provided to the ticketing system so that the management can know the present record of the guests (Matthews et al. 2015). 4. The purchase points which are on Sentosa and on main land will be connected to each other through the centralized system. 5. Update of data occurred in any point will result into the update of the database. 6. Both the database will be separate and will be connected in the cloud database architecture. Play pass related issues Medium 1. The guests will receive will individual identity number. 2. The numbers will be different for foreigners and locals. 3. The cloud system will automatically divide the activities of the two types of guests (Rittinghouse and Ransome 2016). 4. The managers will receive information of the analysis instantly. 4. The same process will be carried out for distinguishing the activities of the Islander member. Ticketing database and database related issues High 1. As the database will be connected to the cloud and maintained by it any initiation of process will result in modification of database. 2. For eliminating the duplication issue, master data management will be incorporated in the cloud system (Heikkinen and Pekkola 2013). 3. To make sure that the transactions get completed every time the system will incorporate some protocols that will check the transaction process several times. Discounts Low 1. The system will store the id of the individual guests (Wang et al. 2012). 2. The same id will be used every time the users access the services of Sentosa. 3. Through this the total amount of access to the service by the user can be calculated. 4. The cloud will store all the information regarding this activity. No fresh model High 1. The systems will be developed in units and will be deployed in cloud. 2. The fresh unit will be integrated with the existing one at first then the whole unit will exchange with the previously deployed model. (Rittinghouse and Ransome 2016). 3. This process will be carried out until the system controls all the business aspects of Sentosa. Project Governance: Figure 1: Organizational Structure (Source: Sentosa.gov.sg, 2016) Meeting Structure: Person Responsibility Moses Lee Handling the overall activates and outcome of the project. LOW Tien Sio Supervising the projects partial aspects such as requirement providing. CHIN Sak Hin Estimating budget and profit from the project. Jacqueline TAN Yi-Ping Supervising the property related requirement to the project. Theresa LOW Bounding the scope of the project so that overflow of the allowed fund does not happen. EU Kwang Chin Supervising the functionality and the efficiency of the system. LEE Siyou Kim Maintaining the activities of the system. Catherine CHEW, Suzanne HO, Andy JOHNSTON Providing the basic functional requirements of the system. Progress Tracking: The individual employee of the project will be responsible for documenting their work on daily basis and their progress report will be shared to the project manager. The project leader will send the complete development of every day to the owner of the project (Chomal and Saini 2013). The functionalities of the system are shared with the marketing and sales department. Tracking Activity Suggested frequency Automated tools Remarks Modified project landmark schedule Monthly MS project 1.task completion date 2. GANTT chart 3. chart of the previous month. Modified worked product recognition Monthly Automated project database Updates to the database manager. Modified estimates at the end Bi-weekly MS project Integrate project cost to date Modified details of the financial position Quarterly MS word 1. Labor hours expended vs. labor hours awarded. 2. Dollars expended vs. dollars awarded Modified staffing outline Monthly MS Project Modified resource loading Monthly Excel Validate requirement in terms of resource. Modified risk identification As needed 1. MS word 2. Automated project database. Modified risk matrix Modified work packages As needed 1. MS word 2. Automated project database. 1. Modified control list regarding details. 2. Contact update. Modified project need As needed 1. MS word 2. Automated project database. As per the discussion in the planning phase. Table 1: Project Monitoring Matrix (Source: Kim et al. 2013) Risk and Issue management: Risk Event Probability (1=highest) Impact Risk Score Mitigation Plan Different market for local and foreign people. 1 Medium High The integration of listing such as foreigner and local in the website. Difficulty in terms of navigation at Santosa 1 High High The integration of map of Santosa. Data harnessing 4 High Medium Hiring administrators and specialists. Highly competitive and price sensitive market. 2 Medium Transformation of business into internet. Classification of attractions 1 Low Medium Selection of attractions at the time of booking. No connection between the ticketing system and membership database 3 High High Connecting the database with the centralized cloud system. Play pass related issues 4 Medium Low Providing unique identity numbers at the fist time of registering. Ticketing database and database related issues 2 High High Integration of master data management technique. Discounts 4 Low Low The use of same identity number for individual client. No fresh model 2 High High Implementation of the system in units and integrating the distinct units. References: Chomal, V.S. and Saini, D.J.R., 2013. Finding Trend of Both Frequency and Type of Errors from Software Project Documentation.International Journal of Emerging Trends Technology in Computer Science (IJETTCS),2(5). Chung, B.D., Jeon, H. and Seo, K.K., 2014. A framework of cloud service quality evaluation system-focusing on security quality evaluation.International Journal of Software Engineering and its Applications,8(4), pp.41-46. Dede, E., Sendir, B., Kuzlu, P., Hartog, J. and Govindaraju, M., 2013. An Evaluation of Cassandra for Hadoop.IEEE CLOUD,2013, pp.494-501. Dinh, H.T., Lee, C., Niyato, D. and Wang, P., 2013. A survey of mobile cloud computing: architecture, applications, and approaches.Wireless communications and mobile computing,13(18), pp.1587-1611. Kim, M., Cui, Y., Han, S. and Lee, H., 2013. Towards efficient design and implementation of a Hadoop-based distributed video transcoding system in cloud computing environment.International Journal of Multimedia and Ubiquitous Engineering,8(2), pp.213-224. Marosi, A., Kovacs, J. and Kacsuk, P., 2013. Towards a volunteer cloud system.Future Generation Computer Systems,29(6), pp.1442-1451. Matthews, J., Love, P.E., Heinemann, S., Chandler, R., Rumsey, C. and Olatunj, O., 2015. Real time progress management: Re-engineering processes for cloud-based BIM in construction.Automation in Construction,58, pp.38-47. Rittinghouse, J.W. and Ransome, J.F., 2016.Cloud computing: implementation, management, and security. CRC press. Sentosa.gov.sg. (2016).Board Senior Management : Sentosa Development Corporation. [online] Available at: https://www.sentosa.gov.sg/about-us/board-set/ [Accessed 9 Aug. 2016]. Vilminko-Heikkinen, R. and Pekkola, S., 2013. Establishing an organization's master data management function: a stepwise approach. InSystem Sciences (HICSS), 2013 46th Hawaii International Conference on(pp. 4719-4728). IEEE. Wang, C., Wang, Q., Ren, K., Cao, N. and Lou, W., 2012. Toward secure and dependable storage services in cloud computing.IEEE transactions on Services Computing,5(2), pp.220-232. Xu, X., 2012. From cloud computing to cloud manufacturing.Robotics and computer-integrated manufacturing,28(1), pp.75-86.