BDIS Flashcards
(43 cards)
What are Data, Information, Knowledge & Wisdom?
Data: Meaningless facts (e.g. 22)
Information: Combining data with a context (e.g. Bus 22 goes from A to B)
Knowledge: Using information in the decision making (e.g. not taking bus 22 as you need to go to C)
Wisdom: Knowledge used for the greater good (e.g. biking is better than taking the bus)
How do organizations use information?
Decision making in the company
Used as actual product (e.g. Hotels.com)
To gain strategic value
Communication - exchange of data (e.g. purchase department to invoicing)
Process support - supporting internal processes
What is a system?
System: Set of interacting components working together towards common goal - transforming input to output. There are boundaries towards the environment
What is an information system?
IS: Combination of technology, data, people and processes directed toward the collection, manipulation, storage… and communication of information. It can be used with management decision making.
Consists of: Data, Hardware, Software, Communication media, Procedures, People
What are components?
Components: The small parts of a bigger whole - e.g. computers, employees, departments, data, information, storage, output.
What is the difference between IT & IS?
IT is hardware, software and media used to store, organize and retrieve communication
IS is the organized combination of IT, people and processes that is directed toward the collection, manipulation, storage, organization, retrieval and communication of information.
The difference is that IS involves people, which is not the case for IT
What can IS facilitate and how? Why is IS important?
It can facility:
- Process enhancement
- Automation
- Control
- Information flow
It is important as it can help:
- Collect large amounts of data
- Structure large amounts of data
- Do accurate and consistent manipulations
- Help imply business rules, such as a customer cannot place a new order if they have an invoice over date or that a hotel cannot double book rooms
What is a project? And what types of projects are there?
A project is a temporary task undertaken to create a unique result, different from the daily operations of the firm.
- Temporary = clear start and clear end
- Unique = distinguished from day-to-day operations
Different types of project:
- Compliance: Must be performed
- Operational: Support operations
- Strategic: Gaining competitive advantages
What is project management and why is it important?
Project management is the process of controlling and planning the project to ensure a successful completion of the project. Important to make sure that the project is completed on time, within the agreed scope and within budget.
What are the major trade-offs in project management, and why do they exist?
Scope - cost - time
There is a trade-off as a project manager wants to minimize time and cost while ensuring a broad enough scope to complete the project.
How can project risks be identified?
Draw the risk model
What is the difference between actual hours and man-hours?
Actual hours: The time span it takes to complete a task
Man hours: The time spent on the task
Example:
If a person works 5 hours á day for 5 days, then actual hours is 5 days whereas man-hours are 25 hours.
What is a program?
A program involves several projects closely related and designed to accomplish a
common goal, but performed as individual projects
Explain the Project Life Cycle
1) Project definition
- Develop charter
- Establish organisation
- Identify stakeholders
- Define scope
2) Project planning
- WBS to estimate each part
- Three point estimation
- Gantt chart
- Risk evaluation
3) Project execution
- Monitor cost, risk, resources
- Monitor Gantt chart
4) Project closing
- Give documentation to client
- Evaluated successes / failures
What is a project portfolio
A project portfolio is a large number of projects or programs that an organization is
concurrently performing or considering
Draw and explain the strategy triangle
Business strategy drives the two others
- IS and OS are dependent but MUST support BS
If one strategy changes, then all must change to align the triangle
- Implementing a new strategy ALWAYS causes changes to all three strategies
Business strategy:
- Porter’s generic strategies: Cost/Differentiation
- Hypercompetition models: Speed/agility
- Social business strategies: Stakeholder involvment
What is an IS strategy?
IS strategy is the plan an organization uses to provide information systems and services.
- Which infrastructure is needed?
- What software is required?
- What is the level of security?
- How can BS be improved by IT & IS?
Explain the five steps of the IS strategic planning / Stratetic Planning Process
1) Strategic business planning: Know who you are
2) IS assesment: Know where you start
3) IS vision: Know where you want to go
4) IS arcitechture: Know how you are going to get there
5) Strategic initiatives: Know what you need to get there
See more in slides from lecture 3
Explain and draw Porter’s value chain
See slide 38 L3
Explan and draw the virtual value chain
See slide 39 L3
What is Critical Success Factors and how can they be used in relation to the IS Strategic Planning
CSF are factors crucial to the success of the company and without these, they will not be able to succeed on their BS.
For Wal-mart this could be delivering products at low cost, where for Apple it might be to create innovative products.
CSF can be used to evaluate the relevance and importance for strategic initiatives, as these must support the company in ensuring fulfillment of their CSF.
Draw the priority matrix and explain its relation to the IS strategic planning / Strategic Planning Process
The model evaluates the initiatives on two dimensions:
- Expected revenue gained
- Ease of implementation
An initiative with high expected revenue gains and high ease of implementation is the best, and is referred to as an “imperative”.
Which two models are related to a companies organizational strategy and explain them
Leavits business diamond:
- Focus on structure, tasks, people and technology
- Only way to change OS is through these
- All parts are influenced by IS
Managerial levers:
- Focus on organization, culture and control
- Managers can change these to change OS
- Some parts are influenced by IS
Comparison:
- Managerial levers is more detailed
- Managerial levers points better towards areas affected by IS, where diamond must asses HOW much each element is affected
What is the IS strategy matrix?
See slide 28 L3
