Section 7: The Business of IT Flashcards
What is IT governance?
The system of processes that ensures the effective and efficient use of IT to enable an organization to achieve its business goals and to add value to key stakeholders in an organization
What is the software development life cycle?
The cycle includes the following 6 steps:
1) Planning
2) Design
3) Implementation
4) Testing
5) Deployment
6) Maintenance
What is project management frameworks?
It is to ensure that projects are well defined, with clear, attainable goals and that resources are in place for successful completion (SMART & CLEAR)
What are the project management cycle steps?
1) Initiation
2) Planning
3) Execution
4) Closure
What are strategic goals?
Long term, organizational aspirations determined by management that detail things such as eventual service and product offerings and social and economic impacts
What are tactical goals?
Short term goals. Plans how to operate w/ maximum efficiency
What are operational goals?
Similar to tactical goals, except operational plans are long term. (Long term goals to operate at max efficiency)
What does IT governance provide the company’s IT function with?
1) Strategic management
2) Realizations of benefits to the organization
3) Risk optimization
4) Resource optimization
What is the Project Initiation phase?
Broadly defines the project.
Starts with business case which is followed by a feasibility study.
What is a feasibility study?
Determines if the business case is a reasonable and feasible solution
What is the Project Planning phase?
Developing a road map that everyone follows.
Defines scope and drafts a project management plan (identify resources, cost and time estimations)
Setting goals using SMART or CLEAR
What is the Project Execution phase?
Project deliverables are developed and completed.
Kick off meeting to determine tasks, develop the team, assign resources, setting up tracking systems, conducting status meetings and monitoring the project timetable
What is the Project Closure phase?
Project is declared complete and the project team is dissolved.
Complete documentation, include financial reports. Project team members reflect on strengths and opportunities for improvement
What doe the letters of SMART goals mean?
S- Specific (Who, what, where, when, why)
M- Measurable (can be objectively measured)
A- Attainable (Attainable given resources)
R- Realistic (Assess willingness to work toward goal)
T- Timely (achievable within the available timeframe)
What doe the letters of CLEAR goals mean?
C- Collaborative (Encourage teamwork)
L- Limited (Limited in scope and time to keep it manageable)
E- Emotional (Taps into the passion of the employees)
A- Appreciable (Break large goals into smaller tasks)
R- Refinable (Be flexible and refine the goal as needed)
What are some project planning documents?
Scope Statement - Outlines objectives, deliverables, and milestones
WBS - Work Breakdown Structure - Breaking project into manageable segments for the team
Milestones - High-level goals to meet throughout the project’s duration
Communication Plan - Outlining the frequency and methods of communication w/ stakeholders
Risk Management Plan - identify foreseeable risks, including cost overruns and delays
What are the different types of risks?
Risk in Execution - Revolve around budget, people, tech, equipment, and stakeholder support
Risks in Integration - Affects other systems and processes in an organization
Risks of the Unknown ????
How do you mitigate the different types of risk?
Risk in Execution: Planning in advance
Risk in Integration - Assessing potential disruptions, proper support, and having a shared understanding of the project’s complexity