Chapter 14 Vocab Flashcards
Principle challenge of IS
ensuring generate business benefits
Scoring Model
method for deciding among alternatives based on system of ratings
Capital Budget
process of analyzing and sele cting various proposals for capital expenditures
Payback Method
how long cash inflows to conver initial cost
Accounting Rate of ROI
returns relative to initial cost
Accounting profits: net income or op income
Net Present VAlue
CIF-COF
-money worth more now than in future
Internal Rate of Return
Cash flows = invested
Runaway project
exceeded budget, schedule
Project
planned series of related activities to acheiving a specific objective
Project Management
apllication of knowledge, tools, skills, and techniques to achieve a specific targe
5 Variables of Project Management
- scope
-time
-quality
-cost
-risk
Dimensions of Risk
- project size
- project structure
- experience with tech
Triple Constraints
- time: window of oppurnity
- scope: ensure project includes all work required
- cost: amount of resources can commit to completing project
Gantt Chart
physical representation of timing and duration
PERT chart
depiction of tasks and relationship
