INSY55 Midterm Reviewer (Wk 1-3) PDF

INSY 55 Types of Information systems 1. Transaction Processing Systems (TPS) – handles day-to-day transactions of an organization. They are designed to process large volumes of routine transaction quickly and accurately. 2. Management Information System (MIS) – provide managers with to...

INSY 55 Types of Information systems 1. Transaction Processing Systems (TPS) – handles day-to-day transactions of an organization. They are designed to process large volumes of routine transaction quickly and accurately. 2. Management Information System (MIS) – provide managers with tools. They typically generate reports based on data collected from TPS. 3. Decision Support Systems (DSS) – assist in making decisions by analyzing large volumes of data. Often use data from MIS. 4. Executive Information System (EIS) – are specialized systems designed for senior executives. Often feature dashboards and visualization. 5. Customer Relationship Management System (CRM) – helps organizations manage interactions with current and potential customers. 6. Enterprise Resource Planning Systems (ERP) – integrate various business processes and functions into a single comprehensive system. They facilitate the flow of information across different departments. 7. Knowledge Management Systems (KMS) - designed to facilitate the organization, sharing, and analysis of knowledge within an organization. They help in capturing and disseminating knowledge to improve decision-making and innovation. 8. Supply Chain Management Systems (SCM) – manage the flow of goods, information and finances as products move from supplier to manufacturer… They optimize supply chain. 9. Human Resource Management Systems (HRMS) – used to manage employee data… They streamline HR processes. 10. Content Management Systems (CMS) – used to create, manage and modify digital content. They allow user to publish and organize content. SDLC (System Development Life Cycle) – a structured processed used for developing information systems. PHASES OF SDLC: 1. Planning – involves defining the scope of the project, identifying stakeholders, and determining the feasibility of the project. 2. Analysis – requirements of the system are gathered and analyzed. 3. Design – translates the requirements into a blue print for building the system. 4. Development – actual coding and building of the system take place. 5. Testing – involves verifying that the system meets the specified requirements and identifying any defects. 6. Implementation – system is deployed to the production environment.  7. Maintenance – where it is monitored and updated as needed. Fixing issues, making enhancements, and ensuring the system continues to meet user needs. METHODOLOGIES OF SDLC 1. Waterfall model – a linear and sequential software development where each phase of the development process must be completed before the next phase begins. 2. Prototyping Model – involves creating preliminary version (prototype) of a system to visualize and refine requirements. Allows for iterative feedback from users, enabling developers to understand user needs. 3. Spiral Model – combines iterative development with the systematic aspects of the waterfall model. Emphasizes risk assessment and management throughout the development process. 4. Extreme Programming (XP) – an agile software development that emphasizes customer satisfaction, flexibility, and rapid delivery of high-quality software. 5. Unified Process (UP) – provides a structured approach to software engineering. An iterative and incremental process that emphasizes the use of best practices. a. Phase of Unified Process: i. Inception ii. Elaboration iii. Construction iv. Transition 6. Agile Modeling – practice-based methodology for effective modeling and documentation of software systems in an agile development environment. 7. Rapid Application Development (RAD) – emphasizes quick development and iteration of prototypes. 8. Joint Application Development (JAD) – a facilitated workshop approach that brings together stakeholders, to collaboratively define and design software requirement. FUNDAMENTALS OF SYSTEM ANALYSIS Project Initiation: a. Project Charter 1. Define Project title – should be concise and descriptive 2. Establish start and a finish dates – specify the anticipated completion. 3. Identify the project manager – individuals who’s responsible for over seeing the project. 4. State the project purpose and justification – explain why the project is being undertaken and the problems aims to solve. 5. Outline Project objectives – list specific measurable goals that the project aims to achieve  6. Defined the scope statement – clearly delineate what is included and excluded in the project a. In Scope : development of the software, user training, and support. b. Out of scope : integration with third-party systems not specified. 7. Identify stakeholders – individuals or groups who have an interest in the project. 8. Establish Milestones – identify key phases of the project and their completion dates. 9. Estimate the budget – provide rough estimate of the total budget required for the project. 10. Identify risks and assumptions – list potential risks that could impact the project and assumptions made during planning 11. Obtain approval – Include section for signatures from key stakeholders to authorize the project. b. Conducting stakeholder analysis 1. Identify stakeholders – brainstorm a comprehensive list of all potential stakeholders involved in or affected by the project. 2. Categorize stakeholders – based on their level of influence and interest in the project a. High influence, high interest : key decision makers b. High influence, Low interest : senior management who need updates but are not involve in day-to-day activities c. Low influence, High interest: end users who will use the system and provide feed back d. Low influence, Low interest: external vendors who may be affected. 3. Analyze stakeholders interests – identify their interests, concerns and expectations regarding the project 4. Assess stakeholder impact – how each stakeholder can impact the project positively or negatively. 5. Develop Engagement Strategies – create tailored communication and engagement plans for each stakeholder group. 6. Document findings – summarize the stakeholder analysis in a table of matrix format. Project Feasibility: Steps to Analyze a Case Study of a Project that Failed Due to Inadequate Feasibility Assessment Step 1: Select a Case Study a. Choose a Relevant Case: Identify a project that is well-documented and known for its failure due to inadequate feasibility assessment. Step 2: Gather Background Information a. Project Overview: Collect details about the project, including its objectives,scope, and stakeholders. Step 3: Identify the Feasibility Assessment Process Types of Feasibility: Review the types of feasibility that should have been assessed: b. Technical Feasibility: Can the technology required be developed or implemented? b. Economic Feasibility: Is the project financially viable? c. Operational Feasibility: Will the organization be able to operate the system effectively? d. Legal and Regulatory Feasibility: Are there any legal constraints? Step 4: Analyze the Inadequacies Lack of Comprehensive Analysis: Identify specific areas where the feasibility assessment was lacking. Stakeholder Input: Assess whether stakeholder needs and concerns were adequately considered. Step 5: Examine the Consequences of Inadequate Feasibility Project Delays: Document how the lack of feasibility assessment led to significant delays. Cost Overruns: Analyze the financial implications, including budget overruns and wasted resources. Operational Failures: Discuss how the project failed to meet operational requirements, leading to its eventual abandonment. Step 6: Review Lessons Learned  Key Takeaways: Summarize the critical lessons learned from the case study regarding the importance of thorough feasibility assessments. Recommendations: Provide recommendations for future projects to ensure comprehensive feasibility studies are conducted. Implications of Proceeding Without a Thorough Feasibility Study 1. Increased Risk of Failure a. Unforeseen Challenges: Projects may encounter unexpected technical, operational, or financial challenges that could have been identified during a feasibility study. 2. Financial Losses a. Budget Overruns: Without a clear understanding of costs, projects can exceed budgets, leading to financial strain on the organization. b. Resource Wastage: Investments in failed projects result in wasted resources that could have been allocated to more viable initiatives. 3. Stakeholder Discontent a. Loss of Trust: Stakeholders may lose confidence in the organization’s ability to manage projects effectively, leading to strained relationships. b. Resistance to Future Projects: Stakeholders may be less willing to support future initiatives due to past failures. 4. Operational Disruptions a. Implementation Issues: Projects that proceed without proper feasibility assessments may face significant operational challenges, disrupting business processes. 5. Legal and Compliance Risks a. Regulatory Non-Compliance: Projects may inadvertently violate legal or regulatory requirements, leading to potential fines or legal action. 6. Reputation Damage a. Public Perception: Failed projects can damage an organization’s reputation, affecting its credibility and market position. b. Long-Term Impact: The negative perception can have lasting effects on customer trust and stakeholder relationships. Areas of Feasibility Steps on Areas of Feasibility When assessing the feasibility of a project, it is essential to evaluate several key areas to ensure that the project is viable and likely to succeed. Step 1: Technical Feasibility - Evaluates whether the technology required for the project is available and can be successfully implemented. Key Considerations: a. Technology Availability: Assess if the necessary technology exists or needs to be developed. b. Integration: Determine how the new technology will integrate with existing systems. c. Expertise: Evaluate if the organization has the technical skills and resources to implement the technology. Step 2: Economic Feasibility- Analyzes the financial aspects of the project to determine if it is economically viable. Key Considerations: a. Cost-Benefit Analysis: Compare the expected costs of the project against the anticipated benefits. b. Budgeting: Estimate the total project costs, including development, implementation, and maintenance. c. Return on Investment (ROI): Calculate the expected ROI to assess financial viability. Step 3: Operational Feasibility- Assesses whether the organization can effectively operate the new system or process once implemented. Key Considerations: a. User Acceptance: Evaluate if users are likely to accept and use the new system. b. Training Needs: Identify the training requirements for staff to operate the new system effectively. c. Impact on Current Operations: Analyze how the new system will affect existing workflows and processes. Step 4: Legal and Regulatory Feasibility- Examines any legal or regulatory requirements that may impact the project. Key Considerations:  a. Compliance: Identify relevant laws, regulations, and industry standards that must be adhered to. b. Licensing: Determine if any licenses or permits are required for the project. c. Risk of Litigation: Assess potential legal risks associated with the project. Step 5: Schedule Feasibility- Evaluates whether the project can be completed within a specified timeframe. Key Considerations: a. Timeline: Develop a project timeline that outlines key milestones and deadlines. b. Resource Availability: Assess the availability of resources (human, technical, financial) to meet the timeline. c. Potential Delays: Identify factors that could cause delays and develop mitigation strategies. Step 6: Market Feasibility (if applicable) - Analyzes the market conditions to determine if there is a demand for the project’s output. Key Considerations: a. Target Audience: Identify the target market and their needs. b. Market Trends: Research current market trends and potential future developments. c. Competition: Analyze competitors and their offerings to assess market positioning. ELEMENTS OF FEASIBILITY ANALYSIS 1. Economic Feasibility - Analysis of the project's cost-effectiveness and financial viability. a. Return on Investment (ROI): Measures the profitability of the investment. b. Net Present Value (NPV): Evaluates the profitability of future cash flows. Step 1: Return on Investment (ROI)- ROI measures the profitability of an investment relative to its cost. Formula: ROI=Cost of Investment/Net Profit×100 Step 2: Net Present Value (NPV) - NPV calculates the difference between the present value of cash of inflows and outflows over a period time. Formula: a. Ct = Cash inflow during the period t b. r = Discount rate c. C0 = Initial investment  Step 3: Importance of Economic Feasibility in Project Selection- Economic feasibility assesses the financial viability of a project, ensuring that it aligns with the organization's financial goals. 2. Technical Feasibility - Assessment of the technical resources and capabilities required for the project. a. SWOT ANALYSIS Step 1: Strengths- Identify the internal strengths of the proposed system and the organization that support its technical feasibility. Step 2: Weaknesses - Assess internal weaknesses that may hinder the successful implementation of the system. Step 3: Opportunities- Explore external opportunities that could enhance the technical feasibility of the project. Step 4: Threats - Identify external threats that could impact the successful implementation of the system. Step 5: Compile SWOT Analysis- Summarize the findings from the SWOT analysis into a clear and concise format. 3. Operational Feasibility - Evaluation of how well the proposed system fits within the existing operational framework 4. Schedule Feasibility - Analysis of the project timeline and its achievability. 5. Resource Feasibility - Assessment of the availability of necessary resources for project completion.