Challenges of Managing IS Projects
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Questions and Answers

What defines a project as temporary and unique?

A project is temporary because it has a fixed duration, and unique because it aims to produce a distinct result that is not a routine operation.

List two examples of IT projects mentioned in the text.

Software Development and Web Development.

What are some improvements in IT project management since 1995?

Better project management tools and improved communication among stakeholders.

According to CHAOS Report, what was the percentage of successful IT projects in 2012?

<p>39%.</p> Signup and view all the answers

What does the term 'challenged' mean in the context of project resolution?

<p>Challenged projects refer to those that are completed but exceed budget or time constraints.</p> Signup and view all the answers

Why is stakeholder communication important in IT projects?

<p>Effective communication among stakeholders leads to clearer expectations and enhances project success.</p> Signup and view all the answers

What role does a project leader play in a project?

<p>A project leader guides the project team and ensures tasks align with project goals and timelines.</p> Signup and view all the answers

What can indicate a failed IT project based on the CHAOS research?

<p>A failed IT project is typically one that does not fulfill its objectives or is not completed.</p> Signup and view all the answers

What should be documented for the sake of future projects?

<p>Everything related to the project should be documented.</p> Signup and view all the answers

What factors are assessed in the evaluation of a project by third parties?

<p>Goals, scope, schedule, budget, quality objectives, and client satisfaction.</p> Signup and view all the answers

What is a key difference between activity definition and activity sequencing in schedule management?

<p>Activity definition identifies what tasks need to be done, while activity sequencing determines the order in which they will be performed.</p> Signup and view all the answers

Why is cost estimating particularly challenging for software projects?

<p>Because software projects often involve unpredictable complexities and variable effort costs.</p> Signup and view all the answers

What is the primary focus of project cost management?

<p>To estimate, budget, and control costs throughout the project lifecycle.</p> Signup and view all the answers

What role do Gantt charts play in schedule management?

<p>Gantt charts visually represent project tasks along a timeline, facilitating schedule planning and tracking.</p> Signup and view all the answers

Define parametric modeling in project cost estimations.

<p>Parametric modeling uses a mathematical model to compute costs based on project variables.</p> Signup and view all the answers

What are definitive estimates in project cost management?

<p>Definitive estimates assign a specific cost to each work package within a project.</p> Signup and view all the answers

What are key areas that project metrics should focus on?

<p>Scope, Schedule, Budget, Resources, Quality, and Risk.</p> Signup and view all the answers

List three qualities of a good project metric.

<p>Understandable, Quantifiable, and Objective.</p> Signup and view all the answers

What is the purpose of status reporting in projects?

<p>Status reporting describes the present state of the project and compares actual progress to the baseline plan.</p> Signup and view all the answers

What is the difference between progress reporting and forecast reporting?

<p>Progress reporting shows what has been accomplished, while forecast reporting predicts future project status.</p> Signup and view all the answers

Identify a potential challenge of managing IT projects related to requirements.

<p>Unclear Requirements and Missed Requirements.</p> Signup and view all the answers

What are the main phases of project management?

<p>The main phases of project management are initiation, planning, execution, monitoring and controlling, and closing.</p> Signup and view all the answers

What is the purpose of a project charter?

<p>A project charter outlines the project's objectives, scope, stakeholders, and responsibilities.</p> Signup and view all the answers

Define 'scope creep' in project management.

<p>Scope creep refers to the uncontrolled changes or continuous growth in a project's scope.</p> Signup and view all the answers

How does the project risk-cost progression graph assist project managers?

<p>The project risk-cost progression graph helps project managers understand the relationship between project risks and associated costs over time.</p> Signup and view all the answers

What does the statement 'What gets measured gets done' imply in the context of project metrics?

<p>It implies that measuring certain aspects incentivizes team focus and accountability towards those metrics.</p> Signup and view all the answers

What are typical elements included in a statement of work?

<p>Typical elements of a statement of work include the purpose, objectives, scope, stakeholder responsibilities, and communication plans.</p> Signup and view all the answers

Why is it important to have defined roles and responsibilities in IT projects?

<p>Defined roles and responsibilities help avoid confusion, improve accountability, and enhance project efficiency.</p> Signup and view all the answers

What is the key focus during the project close-out phase?

<p>The key focus during the project close-out phase is to transfer control of the project deliverables from the project team to the client or sponsor.</p> Signup and view all the answers

What role does a project manager play in project implementation?

<p>A project manager ensures the provision of skilled personnel, technical infrastructure, and adherence to scope, schedule, and budget.</p> Signup and view all the answers

Why is formal project management justified for IT projects?

<p>Formal project management is justified for IT projects because it provides structure, ensures effective resource allocation, and enhances the coordination of complex tasks.</p> Signup and view all the answers

Why is a post-mortem analysis important in project close-out?

<p>A post-mortem analysis is important as it allows the project team to evaluate successes and failures for future improvement.</p> Signup and view all the answers

What should be included in a project plan?

<p>A project plan should include project scope, cost estimates, timelines, resource requirements, and task assignments.</p> Signup and view all the answers

Describe a generalized IT project management process.

<p>A generalized IT project management process involves initiating, planning, executing, monitoring, and closing the project.</p> Signup and view all the answers

What are key project variables in IT projects?

<p>Key project variables in IT projects include scope, time, cost, and quality.</p> Signup and view all the answers

Propose a tool for estimating key project variables.

<p>One tool for estimating key project variables is the Work Breakdown Structure (WBS), which helps in defining tasks and estimating resources and time.</p> Signup and view all the answers

Identify a major risk factor in IT projects.

<p>A major risk factor in IT projects is scope creep, which occurs when project requirements continuously change without proper control.</p> Signup and view all the answers

What is a risk mitigating measure for IT project risks?

<p>A risk mitigating measure for IT project risks is conducting regular risk assessments to identify potential threats and develop contingency plans.</p> Signup and view all the answers

Explain the significance of the Project Management Triple Constraint.

<p>The Project Management Triple Constraint signifies the balance between scope, time, and cost, indicating that changes in one area affect the others.</p> Signup and view all the answers

Why is software project management considered different?

<p>Software project management is considered different due to its inherent uncertainty, rapid technology changes, and the challenge of accurately estimating resources.</p> Signup and view all the answers

What role does expert judgment play in estimating project costs?

<p>Expert judgment provides insights and experience that can guide more accurate cost estimations.</p> Signup and view all the answers

How can Parkinson's Law affect project cost estimations?

<p>Parkinson's Law suggests that work expands to fill the time available, potentially leading to inflated cost estimates.</p> Signup and view all the answers

Why might a development organization quote a low price for a project?

<p>A low price may be quoted to enter a new market segment, hoping for greater profits in future projects.</p> Signup and view all the answers

What can a company do if it is uncertain about its cost estimate?

<p>The company may increase its price by including a contingency that exceeds its normal profit margin.</p> Signup and view all the answers

How do contractual terms influence pricing strategies for software development?

<p>Contractual terms may allow developers to retain source code ownership, leading to a potentially lower initial price for the client.</p> Signup and view all the answers

What actions can be taken early in the project to avoid budget issues?

<p>Project managers should ensure all expenses are submitted for approval and that timesheets are consistently reviewed.</p> Signup and view all the answers

In what way does financial health impact a company's pricing strategy?

<p>Companies in financial difficulty may reduce prices to secure contracts, even if it means lower profits.</p> Signup and view all the answers

How does the volatility of requirements affect pricing in software projects?

<p>If requirements are expected to change, a lower initial price may be offered, with the potential for higher charges later for modifications.</p> Signup and view all the answers

Flashcards

IT Project Management

A structured process for planning, executing, and closing IT projects, including software projects.

Project Management Process

A series of stages in managing an IT project such as initiation, planning, execution, and closure.

Key Project Variables

Important factors that directly affect a project's success, such as cost, time, and scope.

Project Estimation Tools

Methods and tools used to predict project variables, such as cost, effort, and deadlines.

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IT Project Risks

Potential problems that can hinder a project, such as technical issues, budget overruns, or scheduling problems.

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Risk Mitigating Measures

Strategies implemented to lessen or eliminate potential project risks.

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Formal Project Management

A structured approach to IT project management that uses defined processes, tools, and techniques.

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Project Management Triple Constraint

The interplay among scope, time, and cost that influences a project's success or failure.

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IT Project

A temporary and unique attempt to achieve a specific IT goal, like developing software or improving a network.

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Project Management Challenges

Obstacles or difficulties in IT Projects related to planning, execution, or delivery.

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Project Resolution

The ultimate outcome of a project, signifying whether the project was successful, failed, or faced significant obstacles.

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Project Success Rate

The percentage of projects that are successfully delivered according to project plans.

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Stakeholder

An individual or group who has an interest in the project's outcome.

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IT Project Types

Various kinds of IT projects, including software development, e-commerce platforms, and network improvements.

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Project Management Tools

Methods, software, and techniques to plan, track, and manage IT projects and their processes effectively.

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Project Management Phases

A structured sequence of steps that a project typically goes through, from initiation to closure.

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Project Risk-Cost Progression

A graph illustrating the relationship between project risks and project cost over time.

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Project Planning

Creating a detailed schedule or strategy for completing a project within time, cost, and scope constraints.

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Project Implementation

The execution and control phase of a project where the planned activities are carried out to achieve project goals.

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Project Close Out

The final phase of a project ensuring all deliverables are transferred and all project accounts are closed.

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Project Charter

A document that formally authorizes a project, outlining its goals, scope, and objectives.

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Project Scope

The range of work involved in a project, all deliverables, features, and included aspects.

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Project Cost

The estimated and actual costs associated with completing a project.

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Triple Constraints

The three key factors that interact to determine a project's success: scope, time, and cost. Changes in one constraint impact the others.

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Project Schedule

A timeline outlining the project's phases, activities, and deadlines. It ensures timely completion of tasks.

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Project Team Evaluation

Assessing individual team members' strengths and areas for improvement after a project completes. Helps identify talent and growth opportunities.

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Third-Party Project Evaluation

An independent assessment of project success based on its goals, scope, schedule, budget, and quality. Client satisfaction is crucial.

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Project Valuation

Assessing the project's value to the organization. It involves calculating the product's potential benefits and impact.

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Analogous Estimation

Using past similar projects' cost data to estimate a current project's cost. It relies on expert judgment and historical data.

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Market Opportunity

A company's chance to enter a new software market sector by taking a lower profit on one project to gain future profits and experience.

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Cost Estimate Uncertainty

When a company is unsure of its cost estimate, it may increase the price by adding a contingency for risks that may occur.

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Contractual Terms

A company may lower its price if it can reuse the developed software in future projects, as it retains ownership of the source code.

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Requirements Volatility

If the requirements are likely to change, a company may lower its price to win a contract and then charge extra for changes later.

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Financial Health

Companies struggling financially may lower their prices to secure contracts, even at a lower profit, to avoid going out of business.

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Project Cost Budgeting

Allocating approved project funding across different tasks and resources, based on cost estimates, work breakdown, and the schedule.

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Project Budget Approval Process

Ensuring all project expenses are reviewed and approved by the project manager, with some expenses needing approval from the sponsor or client.

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Time Sheet Monitoring

Tracking and approving weekly reports of labor hours charged to the project, ensuring accurate accounting of project resources.

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Project Metric

A quantifiable measure of a project's attribute, like schedule, budget, or quality. It helps track progress and identify areas needing improvement.

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Qualities of a Good Project Metric

A good metric is understandable, intuitive, quantifiable, objective, cost-effective, easy to create, proven, and impactful.

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What are the reporting categories?

Project reports can be categorized as Reviews, Status Reports, Progress Reports, and Forecast Reports.

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Review Report

A formal or informal meeting with stakeholders to discuss progress, get acceptance, surface problems, or make decisions.

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Status Report

A snapshot of the project's current state, comparing actual progress to the planned schedule, budget, and scope.

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Progress Report

A report detailing the completed activities and tasks, comparing actual progress to planned targets.

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Forecast Report

A prediction of the project's future status or progress based on trend analysis.

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Challenges of Managing IT Projects

Common challenges include unclear requirements, undefined roles, missed requirements, project infrastructure delays, scope creep, unclear risks and issues, and vendor quality issues.

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Study Notes

Challenges of Managing IS Projects

  • The context of information systems management is crucial for modern organizations
  • Information systems play a vital role in modern organizations
  • Staffing and organizing the information systems function is essential
  • Information systems planning is a critical process
  • Sourcing and acquiring information systems resources is a key element
  • Information technology outsourcing is a strategy
  • Managing information systems development is an ongoing need
  • Challenges in managing information systems projects vary
  • Information systems impacts and related management issues are significant

Learning Outcomes

  • Students will be able to justify the case for formal project management for IT projects
  • Students will be able to describe a generalized IT project management process
  • Students will be able to discuss key project variables in IT projects
  • Students will be able to propose tools for estimating and monitoring key project variables
  • Students will be able to identify major IT project risk factors and related risk-mitigating measures

IT/IS Project Management Process

  • Readings cover aspects of IT/IS project management
  • Videos provide additional information on the topic

Variables in IT Projects

  • The resources required for IT projects

IT/IS Risks and Risk Mitigating Measures

  • Text discusses relevant risk factors and mitigating measures associated with IT/IS project risks

What is a Project?

  • A project is a temporary, unique endeavor to create a tangible or intangible result
  • Projects entail various tasks completed over a set period
  • IT projects require time, money, and other resources

Examples of IT Projects

  • Software/application development
  • eCommerce
  • Web development and hosting
  • Systems Integration
  • Networking and IT infrastructure development
  • Business analytics/data analytics
  • Security system development/management

Case for Formal Project Management

  • Murphy's Law states that anything that can go wrong will go wrong.
  • Finagle's Law adds that anything that can go wrong will happen at the worst possible time.
  • Hofstadter's Law notes that projects always take longer than predicted.
  • Parkinson's Law explains that work expands to fill the available time.

Findings from the CHAOS Report (Standish Group)

  • The Standish Group's 1995 Chaos Report details project success rates
  • Success rates vary according to project size
  • Large projects have lower rates of success as opposed to medium or small projects
  • Further studies on success rates have shown improvements, but room for improvement exists

Project Resolution Results (2004-2012 and 2011-2015)

  • Data indicates improvement in project success rates since 1995.
  • Success rates have seen incremental improvement, particularly in more recent periods

Project Management Process (Phases)

  • Initiation phase defines the project's scope and deliverables. Includes:
    • Defining and scoping
    • Identifying stakeholders
    • Team building
    • Making the rules
  • Planning phase involves creating detailed plans for project scope, costing, and timelines. Includes:
    • Budgeting and scheduling
    • Activity plan development
  • Implementation phase (Execute & Control) carries out the defined plan. Includes:
    • Working the plan
    • Monitoring progress
    • Taking corrective action
    • Reporting progress
  • Project close-out phase handles final reporting and documentation. Includes:
    • Handing off to end users
    • Closing down operations
    • Reporting outcomes
    • Personnel evaluations

Key Variables in IT Projects (Triple Constraints)

  • Scope
  • Schedule
  • Budget
  • Project goals and expectations are prioritized

Estimation and Monitoring IT Project Variables

  • Schedule management
  • Techniques for estimating time and effort involved in different tasks
  • Using tools such as Gantt Charts and Network Diagrams help in schedule management and resource allocation
  • Cost management
  • Methods of estimating costs and the tools to manage costs
  • Communication and Reporting
  • Methodologies of tracking and reporting progress efficiently and accurately
  • Project risk and mitigating measures
  • Factors and considerations for mitigating project risks

Project Risk Factors and Mitigating Measures

  • Project risks and their possible mitigation measures are analyzed

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Challenges of Managing IS Projects PDF

Description

This quiz covers the complexities involved in managing information systems (IS) projects within modern organizations. Students will explore essential concepts such as project planning, staffing, outsourcing strategies, and the various challenges faced during IS project management. Understanding these elements is crucial for effective IT project management.

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