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Chapter 4 and 5 Info Tech Project Management

balanced scorecard
A methodology that converts an organization’s value drivers to a series of defined metrics.
baseline
The approved project management plan plus approved changes.
business service management (BSM) tools
Tools that help track the execution of business process flows and expose how the state of supporting IT systems and resources affects end-to-end business process performance in real time.
capitalization rate
The rate used in discounting future cash flow; also called the discount rate or opportunity cost of capital
cash flow
Benefits minus costs or income minus expenses
change control board (CCB)
A formal group of people responsible for approving or rejecting changes on a project
configuration management
A process that ensures that the descriptions of a project’s products are correct and complete
cost of capital
The return available by investing capital elsewhere
directives
New requirements imposed by management, government, or some external influence
discount factor
A multiplier for each year based on the discount rate and year
discount rate
The rate used in discounting future cash flow; also called the capitalization rate or opportunity cost of capital
integrated change control
Identifying, evaluating, and managing changes throughout the project life cycle
Interface management
Identifying and managing the points of interaction between various elements of a project
internal rate of return (IRR)
The discount rate that results in an NPV of zero for a project
mind mapping
A technique that uses branches radiating from a core idea to structure thoughts and ideas
net present value (NPV) analysis
A method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time
opportunities
chances to improve and organization
opportunity cost of capital
The rate used in discounting future cash flow; also called the capitalization rate or discount rate
organizational process assets
Formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information that can influence a project’s success
payback period
The amount of time needed to recoup the total dollars invested in a project, in terms of net cash inflows
problems
Undesirable situations that prevent an organization from achieving its goals
project charter
A document that formally recognizes the existence of a project and provides direction on the project’s objectives and management
project integration management
Processes that coordinate all project management knowledge areas throughout a project’s life, including developing the project charter, developing the preliminary project scope statement, developing the project management plan, directing and managing the project, monitoring and controlling the project, providing integrated change control, and closing the project
project management plan
A document used to coordinate all project planning documents and guide project execution and control
required rate or return (ROI)
A method for determining the financial value of a project; the ROI is the result of subtracting the project costs from the benefits and then dividing by the costs
strategic planning
Determining long-term objectives by analyzing the strengths and weaknesses of an organization, studying opportunities and threats in the business environment, pre-dicting future trends, and projecting the need for new products and services
SWOT analysis
Analyzing Strengths, Weaknesses, Opportunities, and Threats; used to aid in strategic planning
weighted scoring model
A technique that provides a systematic process for selecting projects based on numerous criteria
analogy approach
Creating a WBS by using a similar project’s WBS as a starting point
benchmarking
Generating ideas by comparing specific project practices or product characteristics to those of other projects or products inside or outside the performing organization
bottom-up approach
Creating a WBS by having team members identify as many specific tasks related to the project as possible and then grouping them into higher-level categories
decomposition
Subdividing project deliverables into smaller pieces
deliverable
A product, such as a report or segment of software code, produced as part of a project
Joint Application Design (JAD)
Using highly organized and intensive workshops to bring together project stakeholders-the sponsor, users, business analysts, programmers, and so on-to jointly define and design information systems
project scope management
The processes involved in defining and controlling what work is or is not included in a project
project scope statement
A document that includes at least a description of the project, including its overall objectives and justification, detailed descriptions of all project deliverables, and the characteristics and requirements of products and services produced as part of the project
prototyping
Developing a working replica of the system or some aspect of it to help define user requirements
requirements
A condition or capability that must be met by the project or that must be present in the product, service, or result to satisfy an agreement or other formally imposed specification
requirements management plan
A plan that describes how project requirements, their various attributes, and the status of the requirements to ensure that all are addressed
scope
All the work involved in creating the products of the project and the processes used to create them
scope baseline
The approved project scope statement and its associated WBS and WBS dictionary
scope creep
The tendency for project scope to keep getting bigger
scope validation
Formal acceptance of the completed project deliverables
top-down approach
Creating a WBS by starting with the largest items of the project and breaking them into subordinate items
use case modeling
A process for identifying and modeling business events, who initiated them, and how the system should respond to them
variance
The difference between planned and actual performance
WBS dictionary
A document that includes detailed information about each WBS item
work breakdown structure (WBS)
A deliverable-oriented group of the work involved in a project taht defines its total scope
work package
A task at the lowest level of the WBS

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