Project Management

1. Explain the triple constraint and its importance in project management.

The triple constraint is the framework for evaluating the competing demands of cost, time and scope. The relationship between these variables is such that if any one of the three factors changes, at least one other factor is likely to be affected. For example, increasing the scope of a project may result in an increase in time and/or cost. It is important consideration of project management as all projects are limited in some way by these three interdependent constraints. A project manager must make intelligent trade-offs between time, cost and scope.

2. Describe the two primary diagrams most frequently used in project planning.

PERT (Program Evaluation and Review Technique) chart is a graphical network model that depicts a project's tasks and the relationships between those tasks. PERT charts frequently display a project's critical path; the critical path is a path from the start to the finish that passes through all the tasks that are critical to completing the project in the shortest amount of time.

Gantt chart is a simple bar chart that depicts project tasks against a calendar, with tasks listed vertically and the project's time frame listed horizontally.

3. Identify the three primary areas a project manager must focus on managing to ensure success.

A project manager must focus on the following:

• managing people
• communications
• change to ensure success.

4. Outline two reasons why projects fail and two reasons why projects succeed.

Two reasons why projects fail:

• Scope creep: the projects grows beyond its intended size resulting in time delays and increased costs.
• Poor planning: a failure to properly plan can be detrimental to the success of a project. Good planning uses tools such as a project plan, Gnatt charts and PERT charts.

Two reasons why projects succeed:

• Change management: A project managers ability to anticipate and react appropriately to change will better position a project for success.
• Communication: good communication is essential for the success of a project. A project manager should distribute timely, accurate and meaningful information regarding project objectives that involve time, cost and scope and quality, and the status of each.

Customer Relationship Management and Business Intelligence

1. What is your understanding of CRM?

Customer Relationship Management has become an integral component of modern business, it involves the managing of all aspects of customer interactions with an organisation with the intention of increasing good customers and increasing profitability (it costs less to retain loyal customers than find new ones).

 

 

2. Compare operational and analytical customer relationship management.

Operational CRM is transactional, used day-to-day to record the types of things that directly happen with customers (e.g. call made, problem lodged). It is a short-term tool.

Analytical CRM is strategic, based on the concept of data mining in that it searches for patterns and trends. Supports back-office operations, and inlcudes all systems that do not deal directly with customers. It is a long-term tool.

 

 

 

3. Describe and differentiate the CRM technologies used by marketing departments and sales departments.

The CRM technologies used by marketing departments are campaign management (which includes information such as costs, target audience, return on investment) and opportunity management.

The CRM technologies used by sales departments are used to coordinate the sales process, by helping salespeople organise their jobs, calendars, contacts, appointments, meetings and multimedia presentations. Essentially, it allows for the streamlining of the sales process.
http://www.youtube.com/watch?v=pM7ZaamZzDA

 

4. How could a sales department use operational CRM technologies?

A sales department can use CRM technologies for a number of things:

• List generators, e.g. to find information a particular customers in a particular demographic.
• Campaign management.
• To know when and what to up-sell and cross-sell.

5. Describe business intelligence and its value to business.

Business intelligence refers to technologies that provide access to data for strategic decision making. It is a long-term tool that supports decision making. It is valuable to a business as it allows managers to find patterns and trends, and better respond to change in the dynamic business environment.

6. Explain the problem associated with business intelligence. Describe the solution to this business problem.

 

The problem that is associated with business intelligence is that businesses are data rich but however information poor. The solution for this is business intelligense, as it allows for better decision making to take place and reduces latency

 

7. What are two possible outcomes a company could get from using data mining?

Two benefits a business could get from data mining are:

• 1. Better use of resources.
• 2. More sales through being able to better market products based on the intelligence gained by data mining.

Opperations Management and Supply Chain.

1. Define the term operations management.

Operations Management is the management of the processes that transform inputs into outputs (goods and services); processes are efficient and productive in producing outputs.

2. Explain operations management's role in business.

Operations management is responsible for managing the core processes used to manufacture goods and produce services. Its role is varied, typical activities include forecasting, capacity planning, scheduling, managing inventory, assuring quality, motivating and training employees and locating facilities.

3. Describe the correlation between operations management and information technology.

There is a strong correlation between operations management (OM) and information technology, so much so that modern OM's could not do their jobs without IT. OM information systems allow managers to work out what resources will be needed and in what amounts, when the resources will be required, where the work will be performed, how resources will be allocated and who will perform the work.

4. Explain supply chain management and its role in business.

Supply chain management involves the management of information flows between an among stages in a supply chain to maximise total supply chain effectiveness and profitability. Supply chain management is important to a business as it allows it to become more efficient in its production of goods and services (better at turning inputs into outputs).

5. List and describe the five components of a typical supply chain.

The five components of a typical supply chain are:

• Supplier: supplies the raw materials (inputs).
• Manufacturer: turns raw materials into products (outputs).
• Distributor: obtains the products form the manufacturer in bulk and sells to retailers.
• Retailer: retailers sell the products to the customer.
• Customer: the customer is the end party in the supply chain.

E-commerce may lead to dis-intermediation, which would remove components from the supply chain (e.g. the distributor and retailer).

http://www.youtube.com/watch?v=qyO9QSo0FjU&list=QL&playnext=1

6. Define the relationship between information technology and the supply chain.

Information technology plays a significant role in the supply chain; it is relied on to make accurate decision regarding each step of the supply chain. Without IT businesses would be overcastting or under casting. IT facilitates JIT (Just In Time) stock management systems. IT allows managers to know where specific stock is in the supply chain and can predict how much will be needed in he future.

Networks and Wireless

1. Explain the benefits of using wireless technology.

The benefits involved with using wireless technology is less hardware is required (there is not a lot of IT infrastructure, which reduces costs), universal access to many applications, 24 hours, 7 days a week, 365 days availability and mobility of employees.

2. Describe the business benefits associated with VoIP.

The business benefits of VoIP is that voice traffic can pass through existing internet lines, communication is free across the VPN for businesses with many sites, cost savings in not needing traditional phone infrastructure and can leverage existing network for free communication.

3. Compare LANs and WANs.

A LAN is a local area network, which is designed to connect group of computers in close proximity to each other such s in an office building, school or home. A WAN is a wide area network, which spans a large geographic area such as state, province or country. The two technologies can be compared and contrasted by the respective geographic scopes.

4. Describe RFID and how it can be used to help make a supply chain more effective.

RFID (Radio Frequency Identification) uses active or passive tags in the form of chips or smart labels that can store unique identifiers and relay this information to electronic readers. Examples include e-tags (e.g. the RTA tag used to pay road tolls) and smart cards (e.g. London's Oyster card for accessing public transport). RFID can be used to make a supply chian more effective by being attached to inventory, allowing businesses to keep track of their inventory as it passes through the various stages of the supply chain. It allows the supply chain to be more productive and efficient. Less buffer inventory is needed as estimated times of deliver known. Helps facilitate JIT (just-in-time) stock management.

 

5. Identify the advantages and disadvantages of deploying mobile technology.

The advantages of deploying mobile technology are a mobile workforce. An example of this is a sales person can have access to a CRM system while on the go, being able to easily know real time data on sales, stocks, customer experiences etc. This allows for real time processing of information and faster delivery of that information. Business data and applications can be stored in the 'cloud' and thus accessed wherever and on whatever device.

The disadvantages are that it is not a very secure form of data if not set up right, privacy issues, security issues and unsecured devices are easier to get a virus.

http://www.youtube.com/watch?v=XdBd14rjcs0

Database and Data Warehouse

1. List, describe, and provide an example of each of the five characteristics of high quality information.

• Accuracy, is concerned with whether all the values are correct, e.g. is the name spelt correctly?
• Completeness, is concerned with whether any values are missing, e.g. is the address complete with number, name and postcode?
• Consistency, is concerned with whether aggregate or summary information is in agreement with detailed information, e.g. do all the total fields equal the true total of the individual fields?
• Uniqueness, is concerned with whether each transaction, entity and event is represented only once in the information, e.g. are there any duplicate customers?
• Timeliness, is concerned with whether the information is current with respect to business requirements, e.g. is information updated weekly, daily or hourly?

2. Define the relationship between a database and a database management system.

 

A database is the structured file consisting of tables, records and fields and a database management system is the system that manages that database, allowing the user to run queries, compile reports etc.

3. Describe the advantages an organisation can gain by using a database.

In modern business, using a data base has become very essential. The advantages of this is that it reduces redundant information, increases flexibility, makes systems scalable and increases information integrity. A database makes a business more efficient and effective in its operations and provides analytical information discovering trends.

4. Define the fundamental concepts of the relational database model.

A relational database is one that stores information in the form of logically related two-dimensional tables, each consisting of rows and columns. It is the most commonly used database model today, and example of which is Access.

5. Describe the benefits of a data-driven website.

A data driven website is an interactive website kept constantly updated and relevant to the need of it customers through the use of a database. The advantages of a database driven website is that it allows a user to run a query by submitting a form, making it easier and more simple to find information and increases customer satisfaction.

6. Describe the roles and purposes of data warehouses and data marts in an organization.

A data warehouse is a logical collection of information that supports business analysis activities and decision making tasks. The primary purpose of a data warehouse is to aggregate information throughout an organization into a single respiratory in such a way that employees can make decisions and undertake business analysis activities.

However, a data mart contains a subset of data warehouse information.

To distinguish between the two, think of data warehouse as having a more organizational focus and data marts having focused information subsets particular to the needs of a given business unit such as finance or production and operations.

Enterprise Architectures

1.     What is information architecture and what is information infrastructure and how do they differ and how do they relate to each other?

Information architecture identifies where and how important information, such as customer records, is maintained and secured. It is the overall strategy of how an organisation is going to structure its resources.

Information infrastructure includes the hardware, software and telecommunications equipment that, when combined, provides the underlying foundation to support the organisation's goals. It is the actual implementation of an effective information system.

The two concepts are related in that architecture plans what infrastructure is to be used by an organisation. They differ in that architecture is about planning, whilst infrastructure is about implementation.

2.     Describe how an organisation can implement a solid information architecture

An organisation can implement a solid information architecture via effectively implementing strong backup and recovery, disaster recovery and information security.

3.     List and describe the five requirement characteristics of infrastructure architecture. 

·         Flexibility: infrastructure architecture must be flexible enough to adapt to changes in the business environment, that must be able to grow and change with the business.

·         Scalability: it must be able to adapt to increased demands; must be able to scale to more products, customers, records and systems.

·         Reliability: ensures all systems are functioning correctly and providing accurate information .

·         Availability: systems must be widely accessible, inside and outside the business.

·         Performance: measures how quickly a system performs certain processes or transactions; should be faster and easier to use.

4.     Describe the business value in deploying a service oriented architecture 

Service oriented architecture (SOA) is a business driven IT architectural approach that supports integrating a business as linked, repeatable tasks or services. It helps today's business innovate by ensuring that IT systems can adapt quickly, easily and economically to support rapidly changing business needs. It also helps businesses increase the flexibility of their processes, strengthen their underlying IT architecture, and reuse their existing IT investments by creating connections among disparate applications and information sources.

5.     What is an event? 

An event within in the business is identified as the eyes are ears of the business. They detect threats and opportunities and alert those who can act on the information. This involves the use to IT systems to monitor the business process for events that matter and automatically alert the people best equipped to handle the issue.

6.     What is a service?

Services are more like software products. They must appeal to a broad audience, and thy need to be reusable if they are going to have an impact on productivity. New services that are defined at a high level, describe such things as 'Credit Check', 'Customer Information' and 'Process Payment'. These services describe a valuable business process.

7.     What emerging technologies can companies can use to increase performance and utilise their infrastructure more effectively?

Virtualisation, which allows multiple computer systems to run on the same hardware, e.g. a computer being able to run both Windows 7 and Mac OS X.

http://www.youtube.com/watch?v=HItJ1ET4-oM&p=3DE7BB3F883BA051&playnext=1&index=7

Grid computing, which allows unused resources on remote computers to be used.

http://www.youtube.com/watch?v=OkO-Depf9TM

Ethics and Security

1.    Explain the ethical issues surrounding information technology.

Ethics is the principles and standards that guide our behaviour towards other people. The ethical issues that surround technology include the following:

1. Intellectual property.
2. Copyright
3. Fair use doctrine
4. Pirated software
5. Counterfeit software

Privacy is one of the largest ethical issues facing organisations. Privacy is defined as the right to be left alone when you want to be , to have control over you own possessions, and not be observed without your consent.

Privacy is related to confidentiality, which is the principle that certain information will remain outside public domain.

2.    Describe and explain one of the computer use policies that a company might employee

One computer use policy that a company might employee is the internet use policy. This policy contains general principles that are used to guide the proper users of the internet within the organisation. The policy:

o    Describes available internet services.

o    Defines the purpose and restriction of internet access.

o    Complements the ethical computer use policy.

o    Describes user responsibilities.

o    States the ramification for violations.

3.    What are the 5 main technology security risks?

4.    Outline one way to reduce each risk.

• human error - such as severity can be minimised by proper training of employees.
• technical failure - severity can be minimised by having backup infrastructure ready to go.
• natural disaster - severity can be minimised by a disaster recovery plan, e.g. a hot site.
• deliberate acts e.g. virus, spam, malware - severity can be minimised by virus protection software.
• management failure - severity can be minimised by having high procedural standards and an effective back up policy.

5.    What is a disaster recovery plan, what strategies might a firm employee?

·         The process of regaining access to computer systems and data after a disaster has taken place

—  All firms should have a comprehensive disaster recovery plan in plan

—  This plan lists things like –

◦      Communications plan

◦      Alternative Sites – hot or warm site

◦      Business Continuity

◦      Location of Backup data

e-Business

 1. What is an IP Address?  What is it’s main function?

An IP Address is defined as the basic communication language or protocol of the internet. It can also be  used as a communications protocol in a private network.

IP (internet protocol) this defined as the way that data is transferred from one computer to another basic function in transporting data between computers.

2.  What is Web 2.0, how does it differ from 1.0?

Web 2.0 is a set of economic, social and technology trends that collectively form the basis for the next generation of the internet- a more mature, distinctive medium characterised by user participation on, openness and network effects. Web 2.0 is referred to as the live web. Users can collaborate and build there own content. Business are using web2.0 to enable access to critical business  application for employees and customers.

 

3.  What is Web 3.0?

Web 3.0 is defined as a semantic web that encompasses the following:

• Transforming the web into a database.
• An evolutionary path to artificial intelligence.
• Search for information using different medias.
• Evolution toward 3D.

Web 3.0 uses the concept of Tagging to build information about you, your devices talk to each other and build intelligence about you.

 4.  What is e-Business, how does it differ from e-Commerce?

            E-business - the conducting of business on the internet including, not only buying and selling,

            but also serving customers and collaborating with business partners.

           This  looks into the business activities that may take place.

           The benefits of this are as follows:

• Highly accessible
• Increased customer loyalty
• Improved information content
• Increased convenience
• Increased global reach
• Decreased cost

          E-commerce - the buying and selling of good and services over the internet.

          E.g. Partial and pure.

5. What is pure and partial e-Commerce

Pure vs. Partial EC:

• The product can be physical or digital.
• The process can be physical or digital
• The delivery agent can be physical or digital.

Virtual organizations are companies that are engaged only in EC. (Also called pure play). While click-and-mortar organizations are those that conduct some e-commerce activities, yet their business is primarily done in the physical world. i.e. partial EC

6.  List and describe the various e-Business models?

• Business-to-business (B2B) - applies to business buying from and selling to each other over the internet.
• Business-to-consumer (B2C) - applies to any business that sells its products or services to customers over the internet.
• Consumer-to-business (C2B) - applies to any consumer that sells a product or service to a business over the internet.
• Consumer-to-consumer (C2C) - applies to sites primarily offering goods and services to assist consumers interacting with each other over the internet.

          

          7. List and describe the major B2B models?

Three most important are the sell-side B2B, buy-side B2B and electronic exchange.

          8. Outline 2 opportunities and 2 challenges faced by companies doing business online?

                Two opportunities include the following:

• Highly accessible - businesses can operate 24 hours a day, 7 days a week, 365 days a year.
• Decreased costs - conducting business over the internet is substantially smaller than traditional forms of business communication.

               Two challenges include the following:

• Protecting customers - customers must be protected against unsolicited goods and communication, illegal or harmful goods, insufficient information about goods or their suppliers, invasion of privacy and cyber fraud.
• Providing security - companies must protect their assets against accidental or malicious misuse. Customer information also needs to be protected from internal or external misuse.