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CISI Cards - Technology in Investment > Technology in Investment - Chapter 9 > Flashcards

Technology in Investment - Chapter 9 Flashcards

1
Q

What is chapter 9

A

Managing business change

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2
Q

Which persons should be appointed as the senor responsible owner (SRO)

A

A senior executive

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3
Q

What other name may the Senior Responsible Owner be given

A

Project sponsor

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4
Q

What is the SRO responsible for?

A

Ensuring a project of change meets its objectives and projections

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5
Q

What is a software development lifecycle (SDLC)

A

A standardised process of developing information systems or applications through the completion of defined steps or phases

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6
Q

What does the SDLC Recognize (3)

A

Further the project is from completion, the greater the risk
Costs are lower at the beginning of the project
Changes are easier to make at the start of a project

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7
Q

Standardized SDLC approaches - What is Terms of reference

A

The management decides what capabilities and objectives it wishes the new system to incorporate.

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8
Q

Standardized SDLC approaches - What is Feasibility Study

A

This asks whether the concept of the new system is actually feasible to build & develop

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9
Q

What is a waterfall model?

A

The process of dividing the process into a number of phases. The first of which is requirements gathering.

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10
Q

What is the fountain model

A

Some phases of development overlap during the development process

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10
Q

What are the 4 requirements of the requirements gathering stage that must be met for the waterfall model to enter the second stage.

A

The requirements have:

  1. Gathered from users
  2. Fully understood by designers
  3. Fully documented buy the design team
  4. Signed of by the users
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11
Q

What happens when there is an issue in a phases in the Waterfall model

A

The solution is returned to the previous phase and the rework occurs before the next phase re-continues

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12
Q

What are the four drawbacks to the waterfall method

A

Customers may change their requirements
Estimating timing and costs is difficult
Paper to model is hard
Division of labor is not always easy or feasible

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13
Q

What is the iterative/incremental model

A

Various parts of the system are developed at different times or rates, and are integrated as they are completed

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14
Q

What is the agile model?

A

Minimizing risk by developing lots of small packages of software in short amounts of time

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14
Q

What is prototyping

A

Putting together a prototype to rigorously test and develop using customer feedback

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15
Q

What is the spiral model

A

Meant for larger & expensive projects. 4 prototypes and then an operational prototype is created

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16
Q

What are the three drawbacks to the agile model

A

Lack of formal documentation
The solution may ‘Drift’ from the optimal solution
Face-to-Face communication can be difficult to implement on large projects

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17
Q

Agile software development is not usually recommended for what kind of projects…

A

Large scale
Inexperienced developers
Geographically dispersed teams
Mission critical systems
Time critical developments

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18
Q

For agile methodologies, what is the product (Or system) owner ?

A

Most senior role in he group and is responsible for representing the stakeholders

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19
Q

For agile methodologies, what is the scrum master (Or team lead) ?

A

Project manager esk

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20
Q

For agile methodologies, what is the Team members ?

A

Leg workers. Analysts/developers/testers

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21
Q

For agile methodologies, what is the Stakeholders ?

A

Users/customers of the products. Also the regulators.

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22
Q

What is Rapid Application Development? (RAD)

A

A prototype is quickly constructed that looks like the end product

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23
Q

What is User End Development?

A

Set of activities that allows individual, who are non-professional, developers to make their own changes to the system.

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24
Q

What is Synchronize and Stabilize

A

An SDLC which teams work in parallel on a individual application module

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24
Q

What does good PRINCE 2 Practice encourage?

A

Controlled start, middle & end
Regular progress reviews
Built in decision points
Management of deviation from plan
Good communication between stakeholdes

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25
Q

What is a temporary and one-time endeavor

A

Undertaken to create a unique product or service, which brings about beneficial change or added value

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26
Q

What is a set of inter-related and controlled activities?

A

Have start and finish dates and have a unique objective to conform specific requirements

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27
Q

What is appointed during PRINE 2 during the stage of, Setting up a project (SU)

A

A project brief

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28
Q

What does the Planning (PL) stage of PRINCE 2 advocate?

A

Product based planning

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29
Q

What other key process happens during the PRINCE 2 setting up of a project stage (SU)

A

The project board, sponsor and manager are appointed

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30
Q

What document does the Initiating a project (IP) stage of PRINCE 2 produce from the project brief?

A

The business case

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31
Q

What does the Directing a Project (DP) stage of PRINCE 2 do?

A

How the project board should manage the sub-processes and provide ad hoc direction on how the project should be closed down

32
Q

What does the Managing Product Delivery (MP) of PRINCE 2 do?

A

The way the work package should be accepted, executed and delivered

33
Q

What does the Controlling a Stage (CS) of PRINCE 2 do?

A

Controls the sub-processes of the project

34
Q

What does the Managing stage boundaries (SB) of PRINCE 2 do?

A

If a stage goes outside of tolerance levels, how it is reported and how the plan, risk log and business case and amended..

35
Q

How many PRINCE 2 qualifications are there?

A

2

36
Q

What is the foundation examination for PRINCE 2?

A

That the principles and terminology have been understood. (Theory test effectively)

37
Q

What does the Closing a Project (CP) of PRINCE 2 do?

A

Covers the end of the project and the post evaluation and re-allocation of resources

38
Q

What is the practitioner examination for PRINCE 2

A

Can apply PRINCE 2 theory whilst managing a project (Practical test effectively)

39
Q

What is the Project Management Institute (PMI)

A

Formed in 1999 and a global body for Project Management with over 600,000 members in 214 countries

40
Q

How is the PMBOK divided?

A

Into two parts:

Project Initiation & Exam Essentials

40
Q

What is the PMBOK Guide

A

a standard and guideline handbook for project management

40
Q

The guide recognizes 44 process that fall into 5 categories, what are they?

A
  1. initiating
  2. planning
  3. executing
  4. controlling and monitoring, and
  5. closing.
41
Q

What is the International Organization for Standardization (ISO)

A

ISO’s purpose is to facilitate international trade by providing a single set of standards that people everywhere can recognise and respect

42
Q

What is ISO 9000:2000

A

Quality Management systems - Fundamentals and vocabulary

43
Q

What is ISO 9001

A

Quality management systems – requirements

44
Q

What is ISO 9004

A

Quality management systems – guidelines for performance improvements

44
Q

What are the three audit processes typically addressed through ISO standards

A
  • Tell me what you do
  • Show me where it says that
  • Prove the results
45
Q

Software defects are graded A-D, which is the most serious A or D?

A

A

46
Q

What is the the meaning of a Grade A software defect?

A

Serious issue. No workarounds for the users

47
Q

What is the the meaning of a Grade B software defect?

A

Important part is not working but the users can use the data in another way

48
Q

What is the the meaning of a Grade C software defect?

A

Minor part is not working but the users can use the data in another way

49
Q

What is the the meaning of a Grade D software defect?

A

Cosmetic error - A spelling mistake or UI error

50
Q

What is unit testing?

A

Each unit is tested in isolation

51
Q

What is intergration testing

A

Software cmponents are intergrated and testsed unti the system works

52
Q

What is functional testing

A

Tests at any level to ensure the functionality is working

53
Q

What is system testing

A

Tests a completely integrated system to verify that it meets its requirements.

54
Q

What is volume/load testing

A

Tests software for a certain data volume

55
Q

What is breakpoint testing?

A

Adding data until the system breaks

56
Q

What is system integration testing

A

Verifies that a system is integrated to any external or third party systems defined in requirements

57
Q

UAT - What is Alpha testing

A

Testing done by users inside the developers sit e

58
Q

UAT - What is Beta testing

A

Comes after alpha testing and sent to testers outside of the organization.

59
Q

What is regression testing

A

Testing against existing functionality in the system

60
Q

What is code walkthrough?

A

A manual testing technique where program logic is traced using a small set of test cases

61
Q

What is White box testing

A

The tester has access to the source code and can write specific code to the area of change

62
Q

What is Black box testing

A

Only tests the system through the eyes of a user. I.e what they can see

63
Q

What is Grey box testing

A

Combination of black and white testing. The tester does know the functionality and the code but does test in small test cases

64
Q

Why is grey box testing different to black box testing?

A

Because the tester during grey box testing is understanding of the source code and the functionality being tested

65
Q

What is Smoke, Sanity and Skim testing?

A

Examination of all basic components of a system

66
Q

What is agile testing

A

Tests are written before the code is deployed

67
Q

What is the handshake/rattle test

A

Proves that is possible to send and receive communications between two systems

68
Q

What is disruptive innovation

A

When technology improves a product the market does not expect.

Like the low-cost motor vechile by ford or
The first PC by apple

69
Q

Cloud computing - What is Software as a service (Saas)

A

IAAS + PAAS + All the application sofware

70
Q

Cloud computing - What is Infrastructure as a service (Iaas)

A

Basic infrastructure like network, servers, storage & processing power

71
Q

Cloud computing - What is Platform as a service (Paas)

A

IAAS + Operating system, security & backups

72
Q

What is Vision systems analysis (AI)

A

computers are developed to understand and make sense of their surrounding environment(s) and then act based on a set of preprogrammed rules, eg, spy planes working autonomously to search for predefined structures (such as missiles),

73
Q

What is Machine Learning (ML)

A

Machine learning is a discipline of AI that allows technology systems to automatically learn and improve from experience

(a) Without being explicitly programmed programmed and
(b) With minimal human interaction.

73
Q

What is open finance (

A

Open finance is the term employed to describe the extension of open banking data-sharing principles to enable organisations to access customer data across a range of financial sectors (including savings and investments).

74
Q

How is AI used in Asset Management

A

In high frequency trading (HFT)

75
Q

What is distributed ledger

A

a database that is shared and synchronised across multiple sites, firms or geographies

76
Q
A

CISI Cards - Technology in Investment (20 decks)

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