| A | B |
|---|
| methodology | A strategic-level plan for managing and controlling the project. Game plan for implementing project and product lifestyles |
| business case | deliverable that documents the project's goal, as well as several alternatives or options |
| project charter | a key deliverable for the second phase of the IT project methodology. Defines how the project will be organized and how the project alternative that was selected will be implemented. Important step in phase 2 |
| project plan | provides the scope, schedule, budget, and quality objectives of the project. Phase 2 |
| 5 Phases of IT Project Methodology | 1. Conceptualize and Initialize 2. Develop Project Charter and Detailed Project Plan 3. Execute and Control the Project 4. Close Project 5. Evaluate Project Sucess |
| process | a series of activities that produce a result |
| project management process | describe and help organize the work to be accomplished by the project |
| product-oriented processes | focus on the creation and delivery of the product of the project |
| Computer aided software engineering (CASE) | tools that support both the processes and the product of the project. E.G. Microsoft Office |
| organizational infrastructure | determines how project are supported and managed within the organization |
| Project infrastructure | supports the project team in terms of the project environment and the project team itself. Includes: environment, roles and responsibilities of team members, processes and controls |
| Elements of a good business case | 1. Details of all possible impacts, costs and benefits 2. Clearly compares alternatives 3. objectively includes all pertinent information 4. systematic in terms of summarizing findings |
| Steps for the process for developing a business case | 1. select core team 2. define mov 3. identify alternatives 4. define feasibility 5. define total cost of ownership 6. define total benefits of ownership 7. analyze alternatives 8. propose and support recommendation |
| Step 1: Select the Core Team | Advantages: credibility, alignment with organizational goals 3. access to the real costs 4. ownership 5. agreement 6. bridge building |
| Step 2: Define MOV | Must be: 1. Measurable 2. Provide value to the organization 3. Be agreed on 4. Be verifiable |
| Steps to develop the MOV | 1. Identify desired area of impact 2. identify desired value of IT project 3. Develop an appropriate metric 4. set a time frame to achieve the MOV 5. summarize the MOV in a clear, concise statement |
| Step 3: Identify Alternatives | identifies several alternatives before dealing directly with a given business opportunity |
| base case alternative | describes how the organization would perform if it maintained the status quo |
| Step 4: Define feasibility and assess risk | Each option must be analyzed in terms of its feasibility and potential risk |
| feasibilitly | should focus on whether a particular alternative is doable and worth doing |
| risk | focuses on what can go wrong and what must go right |
| types of feasibility | economic, technical, organization, other |
| Focuses of risk | identification of risk, assessment of risk, and response to risk |
| Step 5: Define total cost of ownership | total cost of acquiring, developing, maintaing, and supporting the application system of its useful life |
| Step 6: Define total benefits of ownership | must include all of the direct, ongoing, and indirect benefits associated with each alternative |
| Step 7: Analyze alternatives | once cost and benefits have been identified, it is important that all alternatives be compared with each other consistently |
| Step 8: Propose and support the recommendation | once the alternatives have been identified and analyzed, the last step is to recommend of the options |
| project portfolio | a set of projects that an organization may fund |
| balanced scorecard | keeps track of four different operational metrics: finance, customer satisfaction, internal business processes, and the organization's ability to innovate and learn |
| economic value added (EVA) | a measurement tool used to determine if an organization if earning more than its true cost of capital |
| Ways the balanced scorecard can fail | 1. the nonfinancial variables incorrectly identified as primary drivers 2. metrics not properly defined 3. goals for improvements negotiated not based on requirements 4. no systematic way to map high-level goals 5. reliance on trial and error as a methodology 6. no quantitative linkage between nonfinancial and expected results |
| IT Governance Best Practices | 1. Identify strategic value 2. Set IT priorities 3. communicate priorities clearly 4. monitor priorities regularly |
| Project Management Office (PMO) | provides support and collects project-related data while providing tools and methodologies |
