BEC 6 - Process Management and IT

Question 1

BPM activities

Answer 1

1) Design
2) Modeling: what if analysis
3) Execution: changes are implemented
4) Monitoring: comparing actual vs expected performance
5) Optimization

Question 2

The general technique/approach to process management

Answer 2

• Define (the process)
• Measure: determine the indicators that will show a change in the process
• Analyze
• Improve
• Control

Question 3

Gap Analysis

Answer 3

Determines the gap, or difference, between industry best practices and the current practices of the organization

Question 4

Lean Manufacturing

Answer 4

Using only those resources required to meet the requirements of customers

Question 5

Demand Flow

Answer 5

Manages resources by using customer demand as the basis for resource allocation

Question 6

Theory of Constraints (TOC)

Answer 6

Organizations are impeded from achieving objectives by the existence of one or more constraints. Can either work around or leverage the constraint

Question 7

5 Steps of TOC

Answer 7

1) Identification of the constraint
2) Exploitation of the constraint
3) Subordinate every other decision to the ones above
4) Elevate the constraint: add capacity to overcome the constraint
5) Return to first step

Question 8

Steering Committees

Answer 8

Responsible for the oversight of the infromation systems function. Responsible for developing and communicating strategic goals, reviewing the IT budget and allocation of IT costs, and providing ongoing guidance

Question 9

AIS relationship to DSS and EIS

Answer 9

Data in an AIS is often processed and aggregated to become inputs to a DSS and EIS

Question 10

5 dimensions of big data

Answer 10

1) Volume
2) Velocity: speed of data accumulation
3) Variety: structured, unstructured, semi structured
4) Veracity: reliability, quality or integrity of the data
5) Value

Question 11

Types of Data Analytics

Answer 11

1) Descriptive Analytics - tells what happened. Uses summary statistics and sorting
2) Diagnostic Analytics - tells why an event happened. Uncovers correlations, patterns, and relationships by performing a drill down, correlation analysis, sequence checks
3) Predictive Analytics - transforms insight into foresight. Uses regression analysis, classification analysis, and decision trees
4) Prescriptive Analytics - tells how to achieve a desired event. Uses AI and what if analysis

Question 12

Security life cycle

Answer 12

1) Identify - what assets exist, identify and document the risks
2) Assess - Determine the likelihood of the risk and the potential impact
3) Protect - Mitigation strategies
4) Monitor - Continually monitor new and existing risks

Question 13

Types of IT Threats

Answer 13

1) Natural and Political disasters
2) Errors in software and equipment malfunctions
3) Accidental actions
4) Intentional actions

Question 14

3 Objectives to successfully manage risk

Answer 14

1) Integrate the management of IT risk into the overall risk management of the enterprise
2) Make well informed decisions about risk appetite, tolerance, etc.
3) Develop a response to risk

Question 15

Categories of IT controls

Answer 15

1) General IT controls - ensure that an organizations control environment is stable and well managed
2) Application controls - controls built into typical business processes that use computer applications. Ensure that data processed through computer applications are accurate, complete, valid, and authorized

Question 16

IT-Dependent Manual controls

Answer 16

A control that relies on an individual performing a control function with some use of an IT component. (ex a system generated report is used to reconcile transactions each month)

Question 17

3 types of firewalls

Answer 17

1) Packet-Filtering firewall - utilizes a router to inspect head information
2) Application-Based firewall - allows for exchange of information but not the direct exchange of packets
3) Stateful Inspections - Monitors both the packet header and destination

Question 18

3 types of vulnerability controls

Answer 18

1) Hardening - turning off unnecessary features to reduce points of entry
2) Patch management - continuous fixes to vulnerabilities that are discovered
3) Anti-malware program

Question 19

Types of alternative processing facilities to maintain IT operations

Answer 19

1) Cold Site - has all the electronical connections but no actual equipment. Cheapest but slowest option
2) Hot Site - is a mirror image of the current facility. Expensive but quick option
3) Warm backup site - Mix of the two. Has hardware installed but will fall short of the processing capabilities found at a hot site