Pioneering a Diamond Price Tracker for Transparent B2C Pricing

Managed the development of a diamond price tracker for B2C market, analyzing 500K+ diamonds daily to establish a reliable consumer price index.

Budget: Up to $1M
Duration: 6 months
Year: 2016

In a leading financial services organization, I spearheaded a pioneering project as a Project Manager, developing a sophisticated diamond price tracking software for the B2C market. The objective was to create a consumer price index for diamonds, providing a transparent and reliable pricing mechanism for consumers.

The software was engineered to analyze over half a million diamonds sold online, leveraging advanced data analytics to identify purchasing trends based on daily updated stocks. The project spanned a year, primarily due to the intricate process of sourcing and developing APIs from individual vendors. These APIs were custom-built by our dedicated development team, enabling seamless data extraction and analysis.

As the Project Manager, I was the catalyst behind this initiative, employing a hybrid approach to project management. I utilized the Waterfall methodology for high-level project management, providing a structured and sequential approach to the project. For the software development aspect, I employed the Scrum methodology, serving as the Scrum Master and ensuring agile and iterative development.

My role was multifaceted, encompassing:

  • Stakeholder Engagement: I conducted an exhaustive stakeholder analysis and managed their expectations through effective communication and regular updates.
  • Team Leadership: I led the project team, ensuring efficient execution of tasks aligned with our project goals.
  • Vendor Management: I collaborated with the IT company selected for the software application, ensuring their work met our requirements and standards.
  • Performance Tracking: I utilized cutting-edge tools to measure project performance, providing valuable insights into our progress and effectiveness.
  • Feedback Management: I obtained feedback from stakeholders to gauge their satisfaction and identify areas for improvement.
  • Marketing Management: I led the marketing team and activities, ensuring that our efforts effectively communicated the benefits of the diamond price tracker to our target audience.

Despite the project’s complexity and the challenges of developing APIs from scratch, we successfully completed the Diamond Price Tracker within budget and the stated timeline. The software has revolutionized the diamond purchasing experience for consumers, providing them with a reliable and transparent pricing mechanism, and has positioned our organization as a trailblazer in the financial services sector.