Information Systems and Project Management Study Guide

Flashcards testing core concepts of Information Systems, Strategic Planning, and Project Management from the lecture notes.

What is a supply chain?

A supply chain encompasses the processes required to get the right product or service into the right consumer's hands in the right quantity at the right time and at the right cost.

According to the Five-Component Model, which side of an information system is easier to change?

Changes to the technology side are easier to make than those to the human side.

What components make up the Five-Component Model of an information system?

Hardware, Software, Data, Processes, and People.

According to the Five-Component Model, which component is the hardest to change?

People.

What is the central component of the Five-Component Model?

Data, which includes information about customers, products, inventories, orders, vendors, and employees.

How is an information system defined?

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

What are the primary responsibilities of a systems analyst?

A systems analyst frequently consults with management and users to define the scope of and requirements for new information systems and conveys system requirements to software developers and network architects for implementation.

How is a business process defined?

A process is a set of related activities that takes input, adds value, and creates output for the customer.

What are the key benefits of strategic planning?

Focuses the organization's resources on agreed-on key priorities, provides direction to guide decision making across all organizational units, and allows the organization to take advantage of opportunities and trends.

According to Leavitt's Diamond, what four components must be fully addressed when introducing new information systems?

People, Technology Infrastructure, Processes, and Structure.

What three factors should be considered when evaluating information systems projects?

The rate of return of the project, the tangible benefits of the project, and the intangible benefits of the project.

How does the Diffusion of Innovation Theory categorize early adopters?

Early adopters are opinion leaders whom others listen to and follow; they are aware of the need for change and open to adopting new technologies.

What is the role of innovation in an organization?

Innovation is the catalyst for the growth and success of any organization, capable of building and sustaining profits, creating new challenges for competition, and providing added value for customers.

What two factors are assessed in the Technology Acceptance Model (TAM)?

Perceived usefulness and perceived ease of use.

What is an organizational core value?

A widely accepted principle that guides how people behave and make decisions in the organization.

According to Porter's Five Forces Model, what defines a threat of substitutes?

When customers begin using a different type of product or service that meets the same underlying need.

What is digital transformation?

The process of significantly modifying existing services, products, and procedures through the use of information systems.

What takes place during the 'deploy the plan' phase of strategic planning?

The strategic plan (mission, vision, values, objectives, key results, and strategies) is communicated so organizational unit managers can develop detailed plans.

Which three elements create the fundamental culture of a company?

Values, vision, and mission.

What is sustaining innovation?

A form of innovation that provides long-term value to the organization by continually improving the same technology.

How is a project defined?

A project is a temporary endeavor undertaken to create a unique product, service, or result.

What are the five highly interrelated parameters of a project?

Cost, schedule, quality, user requirements, and scope.

What is the critical path of a project?

The set of project activities that, if delayed, would delay the entire project; these activities have zero slack time.

According to the lecture notes, what percentage of IT projects fail or face major challenges?

Approximately 61 percent.

What is procurement management in project management?

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

What three key elements are contained in a Project Charter that make it the most critical project management tool?

Project Objectives, Assumptions, and Roles and Responsibilities.

Which two factors are used to assess and classify project risk?

Probability and impact.

What are the four fundamental types of information systems?

Personal IS, Group IS, Enterprise IS, and Interorganizational IS.

How does an information system contribute to gaining a competitive advantage?

By generating more sales and achieving superior profit margins through cost leadership, differentiation, or focus.

What are potential risks associated with Shadow IT in organizations?

Security vulnerabilities and lack of compliance with IT standards.

What is an organization's mission statement?

A concise statement of the organization's fundamental purpose for existing.

What three constraints comprise the Triple Constraint in project management?

Scope, schedule, and cost management.

What is scope creep?

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

How are operations distinct from projects?

Operations represent day-to-day activities performed by a business to fulfill its mission and vision, whereas projects are temporary and unique endeavors.

What is a core competency?

Something that a firm can do well that provides customer benefits, is hard for competitors to imitate, and can be leveraged widely to many products and markets.

What is the role of a project champion (or project evangelist)?

A well-respected leader with a passion to see the project succeed who removes barriers to the success of the project.

What are OKRs?

Objectives and Key Results: a system for creating alignment and engagement around measurable and ambitious goals.

Why is project management described as being part art and part science?

It is part art because it involves communication and psychology in convincing others to change, and part science because it uses time-tested, repeatable processes and techniques to achieve project objectives.

What is a Work Breakdown Structure (WBS)?

An outline of the work that must be completed to finish a project.

What is the difference between quality assurance and quality control?

Quality assurance involves evaluating the progress of the project on an ongoing basis to ensure that it meets identified quality standards, whereas quality control involves checking project results to ensure that they meet identified quality standards.