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8610: Information Management Systems - Pearlson > Chapter 8: The Business of Information Technology > Flashcards

Chapter 8: The Business of Information Technology Flashcards

1
Q

Framework that displays the demands on the business side and the IT offerings on the supply side to help understand differences in capabilities

A

IT Maturity Model

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2
Q

What are the three levels of the IT Maturity Model

A
  1. Business Efficiency (IT = Order Taker)
  2. Business Effectiveness (IT = Solutions Provider)
  3. Business Transformation (IT = Business Partner)
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3
Q

This IT Maturity Level represents an immature IT organization where IT managers maintain an inward focus.

A

IT Maturity Level 1

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4
Q

This IT Maturity Level shifts the focus to business processes and IT personnel search for solutions to business problems

A

IT Maturity Level 2

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5
Q

This IT Maturity Level is reached when IT managers are considered business partners who search for ideas that provide value to the organization and value relationships both inside and outside not only the IT organization but also the firm

A

IT Maturity Level 3

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6
Q

What three (3) firm characteristics affect what the IT organization is expected to do?

A
  1. Firm Size
  2. Organizational Structure
  3. Level of IT Maturity
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7
Q

Name the 14 core IT support activities

A
  1. developing and maintaining information systems
  2. managing supplier relationships
  3. managing data, information * Knowledge
  4. managing Internet and network services
  5. managing human resources
  6. operating the data center
  7. providing general support
  8. planning for business discontinuities
  9. Innovating Current Processes
  10. Establishing Architectual Platforms and Standards
  11. Promoting Enterprise security
  12. anticipating new technologies
  13. participating in setting and implementing strategic goals
  14. integrating social IT
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8
Q

What are the 8 common IT activities are considered Level 1

A
  1. developing and maintaining information systems
  2. managing supplier relationships
  3. managing data, information * Knowledge
  4. managing Internet and network services
  5. managing human resources
  6. operating the data center
  7. providing general support
  8. planning for business discontinuities
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9
Q

What are the 3 common IT activities are considered Level 2

A
  1. Innovating Current Processes
  2. Establishing Architectual Platforms and Standards
  3. Promoting Enterprise security
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10
Q

What are the 3 common IT activities are considered Level 3

A
  1. Anticipating new technologies
  2. Participating in setting and implementing strategic goals
  3. Integrating the use of social IT
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11
Q

True or False

IT professionals should not have the sole responsibility for deciding which business projects receive IT dollars

A

True

Business partners participate in prioritizing IT projects to ensure that resources are applied appropriately

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12
Q

True or False

IT professionals should not solely decide the acceptable level of IT services or security.

A

True

senior managers run the business, they are the ones who must decide on the level of service and security that should be delivered by the IT organization.

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13
Q

The most senior executive in the enterprise responsible for technology vision and leadership for designing, developing, implementing, and managing IT initiatives for the enterprise to operate effectively in a constantly changing and intensely competitive marketplace

A

Chief Information Officer

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14
Q

Track emerging technologies; advise on technology adoption; design and manage IT architecture

A

Chief technology officer (CTO)

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15
Q

Create knowledge management infrastructure; build a knowledge culture; make corporate knowledge payoff

A

Chief knowledge officer (CKO)

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16
Q

Create and maintain the definition, storage, and retirement of data in the firm; streamline access to the data; reduce data redundancy

A

Chief data officer (CDO)

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17
Q

Take advantage of data analysis opportunities, often used for understanding customers, transactions, markets, or trends

A

Chief analytics officer (CAO)

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18
Q

Manage phones, networks, and other communications technology across the entire enterprise

A

Chief telecommunications officer (CTO)

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19
Q

Chief network officer (CNO)

A

Build and maintain internal and external networks

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20
Q

Chief resource officer (CRO)

A

Manage outsourcing relationships

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21
Q

This person Ensure that information management practices are consistent with security requirements

A

Chief information security officer (CISO)

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22
Q

Establish and enforce processes and practices to meet privacy concerns of customers, employees, and vendors

A

Chief privacy officer (CPO)

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23
Q

Oversee and ensure the viable use of mobile platforms and apps

A

Chief mobility officer (CMO)

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24
Q

Maintain a social IT perspective that results in effectively implementing social media

A

Chief social media officer (CSMO)

25
Q

What are the 10 components to a Business Case?

A
  1. Executive summary
  2. Overview and introduction
  3. Assumptions and rationale
  4. Project summary
  5. Financial discussion and analysis
  6. Benefits and business impacts
  7. Schedule and milestones
  8. Risk and contingency analysis
  9. Conclusion and recommendation
  10. Appendices
26
Q

What are the four (4) categories of benefits

A
  1. Financial Benefits
  2. Quantifiable Benefits
  3. Measurable
  4. Observable
27
Q

A way to express the benefit in financial terms

A

Financial Benefit (Ex. Profit)

28
Q

A way to measure the size or magnitude of the benefit, but financial benefits are not directly determinable.

A

Quantifiable Benefit (% increase=?Financial Impact)

29
Q

A way to measure the benefit, but it is not necessarily connectable to any organizational outcome.

A

Measurable Benefit (Ex. Satisfaction Survey)

30
Q

They can be detected only by opinion or judgment. These are the subjective, intangible, soft, or qualitative benefits

A

Observable Benefit (Ex. Happier Customers)

31
Q

Refers to “evaluating new and existing applications collectively on an ongoing basis to determine which applications provide value to the business in order to support decisions to replace, retire, or further invest in applications across the enterprise.

A

IT portfolio management

32
Q

What are the four (4) asset classes that make-up a company’s IT portfolio?

A
  1. Transactional Systems
  2. Infrastructure Systems
  3. Infromational Systems
  4. Strategic Systems
33
Q

What type of IT asset class streamlines or cuts costs for how business is done

A

Transactional Systems

34
Q

What type of IT asset class provides the base foundation of shared IT services used for multiple applications such as servers, networks, tablets, or smartphones?

A

Infrastructure Systems

35
Q

What type of IT asset class provide information used to control, manage, communicate. analyze, or collaborate?

A

Informational Systems

36
Q

What type of IT asset class helps an organization to gain a competitive advantage in the marketplace?

A

Strategic Systems

37
Q

What are the six (6) methods to value IT investments

A
  1. Return on Investment (ROI)
  2. Net Present Value (NPV)
  3. Economic Value Added (EVA)
  4. Payback Period
  5. Internal Rate of Return (IRR)
  6. Weighted Scoring Methods
38
Q

Valuation method that takes into account the time value of money in which cash inflows and outflows are discounted.

A

Net Present Value (NPV)

39
Q

Valuation method that calculates the percentage rate that measures the relationship between the amount the business gets back from an investment and the amount invested.

A

Return on Investment (ROI)

40
Q

Length of time needed to recoup the cost of an investment.

A

Payback Period

41
Q

Valuation method that accounts for opportunity costs of capital to measure true economic profit and revalues historical costs to give an accurate picture of the true market value of assets.

A

Economic Value Added (EVA)

42
Q

Represents the rate that is earned on an investment. The rate is compared to a target that is determined by corporate policy.

A

Internal Rate of Return

43
Q

Costs and revenues are weighted based on their strategic importance, level of accuracy or confidence, and comparable investment opportunities.

A

Weighted Scoring Methods

44
Q

Method that focuses attention on the organization’s value drivers (which include, but are not limited to, financial performance). Companies use it to assess the full impact of their corporate strategies on their customers and workforce, as well as their financial performance.

A

Balanced Scorecard

45
Q

What are the four (4) perspectives applied to balanced scorecards?

A
  1. Customer perspective
  2. Internal business perspective
  3. Learning perspective
  4. Financial perspective
46
Q

What are the two (2) types of monitoring IT Metrics

A
  1. Balanced Scorecard
  2. IT Dashboards
47
Q

What are the four (4) types of IT Dashboards

A
  1. Portfolio Dashboards
  2. Business-IT Dashboards
  3. Service Dashboards
  4. Improvement Dashboards
48
Q

These dashboards show senior IT leaders the status, problems, milestones, progress, expenses, and other metrics related to specific projects

A

Portfolio Dashboards

49
Q

These dashboards show relevant business metrics and link them to the IT systems that support them.

A

Business-IT Dashboards

50
Q

These dashboards show important metrics about the IS such as up time, throughput, service tickets, progress on bug fixes, help desk satisfaction, and so on

A

Service Dashboards

51
Q

These dashboards monitor three to five key improvement goals for the IT group

A

Improvement Dashboards

52
Q

What are the three (3) main IT funding methods?

A
  1. Chargeback
  2. Allocation
  3. Corporate Budget
53
Q

IT costs are recovered by charging individuals, departments, or business units based on actual usage and cost

A

chargeback funding method

54
Q

recovers IT costs based on something other than usage, such as revenues, log‐in accounts, or head count (number of employees) in each business unit or department.

A

allocation funding method

55
Q

IT costs fall to the corporate bottom line, rather than levying charges on specific users or business units

A

corporate budget funding method

56
Q

What are the two (2) major types of IT costing Methods

A
  1. Activty-based Costing
  2. Total Cost of Ownership
57
Q

Costing method that calculates costs by counting the actual activities that go into making a specific product or delivering a specific service

A

Activity-based Costing

58
Q

Costing method that looks beyond initial capital investments to include costs associated with technical support, administration, training, and system retirement and so on.

A

Total Cost of Ownership

8610: Information Management Systems - Pearlson (13 decks)

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