SPM - 4 Flashcards
the key to overall project success
good project integration
the key to overall project success:
good project integration
- Project managers must coordinate all of the other knowledge areas throughout a project’s life cycle
- Many new project managers have trouble looking at the “big picture” and want to focus on too many details (See opening case for a real example)
- Project integration management is not the same thing as software integration
project integration management main process
- develop project charter
- develop management plan
- direct and manage project execuation
- monitoring and controlling project work
- Perform integrated change control
- closing project
involves determining long-term objectives, predicting future trends, and projecting the need for new products and services
Strategic planning
SWOT
Strengths, Weaknesses, Opportunities, and
Threats
As part of strategic planning, organizations
◦ identify potential projects
◦ use realistic methods to select which projects to work on
◦ formalize project initiation by issuing a project charter
IT Planning stages
- IT Strategy Planning
- Business Area Analysis
- Project Planning
- Resource Allocation
IT Strategy Planning
- tie information tehcnology strategy to mission and vision of organization
- identify key business areas
Business Area Analysis
documents key business process that could benefit from IT
Three important criteria for projects
- ◦ There is a need for the project
- ◦ There are funds available
- ◦ There’s a strong will to make the project succeed
Project Planning
define potential projects, project scope, benefits, and constraints
Resource Allocation
Select information technology projects and assign resources
Methods for selecting projects include
- ◦ focusing on broad organizational needs
- ◦ categorizing information technology projects
- ◦ performing net present value or other financial analyses
- ◦ using a weighted scoring model
- ◦ implementing a balanced scorecard
- It is often difficult to provide strong justification for
many IT projects, but everyone agrees they have a high value - “It is better to measure gold roughly than to count pennies precisely”
Focusing on Board Organizational Needs
Financial considerations are often an important
consideration in selecting projects
financial analysis of projects
Three important criteria for projects
- There is a need for the project
- There are funds available
- There’s a strong will to make the project succeed
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
net present value (NPV)