BCIS Exam 1

project

temporary endeavor undertaken to create a unique product, service or result

operations

routine, day to day activities performed by a business to fulfill its mission and vision

core competency

something a firm can do well and provides customer benefits, hard for competitors to imitate, & can be leveraged widely to many products and markets

Project Management

application of knowledge, skills, and techniques to project activities to meet project requirements

project stakeholders

the people involved in the project or those affected by its outcome

10 project management knowledge areas

1. integration

2. scope
3. schedule/time
4. cost
5. quality
6. resources
7. communications
8. risk
9. procurement
10. stakeholder management

10. stakeholder management

project integration management

coordinating all appropriate people, assets, plans, knowledge and efforts to complete a project successfully

project scope

all of the tasks necessary to successfully complete the project

scope management

defining the work that must be done as part of the project and then controlling the work to stay within the agreed-upon scope

scope creep

adding features and functionality without addressing the effects on schedule, costs, and resources or without stakeholder approval

schedule management

defining an achievable completion date and developing a workable project schedule

project schedule

identifies the project activities that must be completed, expected start and end dates, and what resources are assigned to each task

project milestone

critical date for completing a major part of the project

project deadline

date the entire project should be completed and operational

slack time

amount of time an activity can be delayed without delaying the entire project

critical path

set of project activities, that if delayed, would delay the entire project

Gantt Chart

graphical tool used for planning, monitoring and coordinating projects

work breakdown structure (WBS)

outline of the work to be done to complete the project

deliverable

tangible output

predecessor task

tasks that must be completed before a later task can begin

network diagram

displays the dependencies among all project tasks and helps determine the length of the project

cost management

developing and managing the project budget

sponsoring business unit

business unit most affected by the project and the one whose budget will cover the project costs

quality management

set of activities designed to ensure that a project will meet the needs for which it was undertaken

quality planning

determining which quality standards are relevant to the project and determining how they will be met

quality assurance

evaluating the progress of the project on an ongoing basis to ensure that it meets the identifies quality standards

quality control

checking project results to ensure that they meet identifies quality standards

project resource management

set of activities designed to identify, acquire and manage resources for a project

subject matter expert

someone who provides knowledge and expertise in a particular aspect important to the project

project steering team

made up of senior managers representing the business and IS organization, to provide guidance and support to the project

project champion

well respected leader with a passion to see the project succeed, removes barriers to the success of project

project sponsor

senior manager from the business unit most affected and ensures project will meet the needs of organization

IS manager

ensures proper IS staffing for the project and use of approved technology and vendors

communications management

generation, collection, dissemination, and storage of project information in a timely and effective manner

stakeholder analysis matrix

identifies the interests of stakeholders, their information needs, and important facts for managing communications with the champion, sponsor, project team members and key end users associated with the project

project risk

uncertain event or condition that has a positive or negative effect on a project objective

Risk Management

identify, analyze, and manage project risks

risk owner

responsible for developing a risk management strategy and monitoring the project to determine if the risk is about to occur or already has

procurement management

set of activities related to the acquisition of goods/ services for a project from sources outside the performing organization

make-or-buy-or-lease decision

comparing the pros and cons of in house production vs purchasing the product from another organization vs outsourcing a product

contract

legally binding agreement that defines the terms and conditions of the buyer-provider relationship, including who is authorized to do what, who holds what responsibilities, costs and terms of payment, remedies in case of breach of contract, and the process for revising the contract

fixed price contract

buyer and provider agree to a total fixed price for a well definied product/service

cost reimbursable contract

requires buyer to pay the provider an amount that covers the providers actual costs plus an additional amount or percentage for profit

time and material contract

buyer pays the provider both time and materials required to complete the contract

stakeholder management

identifying, engaging, and communicating with all the people, groups, or organizations who are or could be affected by project

triple constraint

critical project aspects of scope, schedule/time, and cost

earned value

actual progress made on a project as measured against the planned progress of the project

project requirement

statement of what the IS will do, features and functionality, needs it will satisfy, and aspects it must not have

A key reason for project failure is a lack of__________ between the strategic plan and the project.

alignment

According to the Project Management Institute (PMI), project managers must coordinate _________areas of expertise.

10

Operations are distinct from projects since operations represent ___________activities performed by a business to fulfill its mission and vision.

day to day

A project champion is a well-respected leader with a passion to see the project succeed and who removes barriers to the success of the project. Sometimes this person is called a ________

project evangelist

The two factors used to classify project risk are

impact and probability

What are the five highly interrelated parameters of a project?

Cost, schedule, quality, user requirements, and scope

information system (IS)

a combination of hardware and software components, along with data, processes, and people, that function collaboratively to complete a task.

competitive advantage

cost leadership, differentiation, focus

Leavitt’s Diamond Model

A model that states an organization’s information systems operate within the context of people, technology infrastructure, processes, and structure.

-introduces new systems into the workplace in a manner that lowers stress, encourages teamwork, and increases the probability of a successful implementation.

technology infrastructure

All the hardware, software, databases, networks, facilities, and services used to develop, test, deliver, control, or support the information technology applications and services an organization requires to meet the needs of its stakeholders

process

structured set of related activities that takes input, adds value, and creates output for the customer of that process

procedure

defines the steps to follow to achieve a specific end result

organization’s structure

defines relationships among members of the organization. In addition, it defines the roles, responsibilities, and lines of authority that are necessary to complete various activities

Five Component Model

defines the 5 components of an information system as hardware, software, data, processes, and people.

hardware

all technology components you can touch

software

programs and applications you can use

data

central component

value chain

series (or chain) of activities that an organization performs to transform inputs into outputs so that the value of the input is increased

supply chain

key value chain whose primary processes include inbound logistics, operations, outbound logistics, marketing and sales, and service

Strategic planning

process that helps leaders identify initiatives and projects that will achieve organizational objectives

Chief Information Officer (CIO)

employ an IS department’s resources (including equipment, budgets, and personnel) in a manner that best achieves the goals of the organization

software developers

creative minds behind computer programs

Information security analysts

responsible for planning, designing, implementing, and maintaining the security and integrity of their organizations’ systems, applications, networks, and data

systems analyst

frequently consult with management and users to define the scope of and requirements for new information systems

web developer

design and maintain websites, including site layout and function, to meet the client’s requirements

business analyst

responsible for improving a company’s competitiveness and performance across a broad spectrum of criteria

An information system is a combination of hardware and software components, along with data, processes, and people, that function _______ to complete a task.

collaboratively

Leaders of the business functions most affected by a new information system have a key responsibility to ensure that _______

the people, processes, and human structure components are fully addressed

information systems shift work away from____ and to________

people; technology

According to the Five Component Model, which of the following is hardest to change?

people

strategic alignment

The process of aligning all stakeholders, internal and external, so that all are focused and committed to achieving a shared organizational vision.

strategic planning

process that helps leaders identify desired outcomes and formulate feasible plans to achieve their objectives by using available resources and capabilities.

core value

widely accepted principles that guides how people behave and make decisions in the organization

mission statement

concisely defines the organization’s fundamental purpose for existing

vision

A concise statement of what an organization intends to achieve in the future.

Porter’s Five Forces Model

A model that identifies the bargaining power of suppliers and buyers, the threat of new entrants and substitute products, and the existing industry competitors, which determine the level of competition and long-term profitability of an industry.

Strengths, Weaknesses, Opportunities, Threats (SWOT) matrix

simple way to illustrate what the company is doing well, where it can improve, what opportunities are available, and what environmental factors threaten the future of the organization

Objectives and key results (OKRs)

system for creating alignment and engagement around measurable and ambitious goals

objectives

written descriptions of what the business wants to achieve

key result

specific, measurable result that must be achieved to reach and objective

How are OKRs written as?

“We will <objective> as measured by <key results>”

strategy

describes how an organization will achieve its vision, mission, objectives, and key result

Projects

temporary endeavors that create an actionable plan, allowing organizations to achieve their objectives and key results.

cost center/service provider

Their focus is operating their organization effectively and efficiently

business partner/business peer

expected to expand IS services in support of business initiatives

Business Innovator/Game Changer

Provide new ways for customers to interact with organization

Breakthrough Project

Creates a competitive advantage that enables the organization to earn a greater than normal return on investment than its competitors

Growth project

generates substantial new revenue or profits for the firm

innovation project

explores the use of technology in a new way

enhancement project

upgrades an existing system to provide new capabilities that meet new business needs

maintenance project

Implements changes to an existing system to enable operation in a different technology environment