The document discusses the phases and methodology of IT project management. It describes the five phases of an IT project as conceptualization and initialization, developing the project charter and plan, execution and control, closeout, and evaluation. It also explains how to develop a business case for a project, including defining its measurable organizational value (MOV) and analyzing costs, benefits, risks and alternatives. The business case and MOV help support project selection and alignment with organizational goals and strategies.
Developed to provide models for forecasting behaviors of systems subject to random demand
The first problems addressed concerned congestion of telephone traffic
Erlang observed that a telephone system can be modeled by Poisson customer arrivals and exponentially distributed service times
Molina, Pollaczek, Kolmogorov, Khintchine, Palm, Crommelin followed the track
Common phenomenon of everyday life
Line maybe People / Items
Examples
– Grocery shop, Bank, Petrol refilling units, Automobile Service station, Airplane, Train etc.
Asset finance system project initiation 101. “Selecting and implementing a new asset finance system? In the second of three articles, we go back to basics to take a look at what you need to consider at the start of your project to give yourself the best chance of success.” This has necessarily been a brief look at Project Initiation. We welcome comments and would be happy to help you get your project off to a good start.
Developed to provide models for forecasting behaviors of systems subject to random demand
The first problems addressed concerned congestion of telephone traffic
Erlang observed that a telephone system can be modeled by Poisson customer arrivals and exponentially distributed service times
Molina, Pollaczek, Kolmogorov, Khintchine, Palm, Crommelin followed the track
Common phenomenon of everyday life
Line maybe People / Items
Examples
– Grocery shop, Bank, Petrol refilling units, Automobile Service station, Airplane, Train etc.
Asset finance system project initiation 101. “Selecting and implementing a new asset finance system? In the second of three articles, we go back to basics to take a look at what you need to consider at the start of your project to give yourself the best chance of success.” This has necessarily been a brief look at Project Initiation. We welcome comments and would be happy to help you get your project off to a good start.
“Selecting and implementing a new asset finance system? In the second of three articles, we go back to basics to take a look at what you need to consider at the start of your project to give yourself the best chance of success.”
This has necessarily been a brief look at Project Initiation. We welcome comments and would be happy to help you get your project off to a good start.
Making IT Work for Your Business - 4 Key Concepts to Get the Most Out of Your...Audrey Reynolds
Learn key tools, processes and best practices from the Business Analyst toolbox that you can use to make better technology decisions and manage your IT projects effectively.
How to Reach Peak Performance With the Product Management Organizational Heal...Aggregage
The degree of maturity of your product management organization can directly drive your ability to satisfy customers and become more profitable. Our Product Management Organizational Health Checklist and on-demand webinar can help.
Presented at the Health Informatics and Health Information Technology Course, Doctor of Philosophy and Master of Science Programs in Data Science for Health Care (International Program), Faculty of Medicine Ramathibodi Hospital, Mahidol University on October 19, 2017
DOES14 - Pat Reed - Project Labor Cost Accounting for Agile ProjectsGene Kim
Pat Reed, Principal Consultant, iHoriz, Inc.
Accurate Accounting of Project Labor Cost (Capitalization vs. Expensing) on Agile projects and product development continues to be a source of confusion, waste and risk; and remains a blocker to Enterprise Agile Adoption. A myriad of associated risks (impacting Software Development and Dev Ops) include:
Loss of material benefits of utilizing the an Agile methodology (increasing the cost and risk of software development)
Blocking large scale and enterprise adoption of Agile and residual benefits
Creating inconsistencies in interpretation of project cost accounting and defeating FASB’s original intent of generating an accounting standard to protect investor confidence
Increasing the risk of over-expensing software development costs that should be capitalized
Increasing the risk of false audit findings and possible mis-reporting of financial statements
Limiting organizations and industry from fully adopting and leveraging the benefits of an Agile Software Development Methodology
Possible taxation increases, higher volatility in Profit and Loss (P&L) statements and unnecessary manual tracking of programmer and Dev Op hours
Inappropriately expensing Dev Ops and possibly causing unnecessary and inappropriate timetracking
Missed opportunities for innovation and automation
This workshop offers a practical solution that provides clear guidance to ensure that organizations understand Agile project cost accounting and consistently and appropriately account for corporate investment in software and automation.
We’ll start with a quick review of the problem and define acceptance tests and success metrics consistent with accepted government accounting standards and collectively (or in small working groups) share ideas and design a framework; applying critical thinking tools – (Mental models and Ladders of Inference to increase our understanding of how we think; and challenge mental models to effectively solve problems.
Learning Outcomes from the workshop have potential to be extensible to address related challenges of internal and external audits and remediation of findings; Sarbanes Oxley and General Computer Controls compliance; Regulatory Industry Compliance, etc.
“Selecting and implementing a new asset finance system? In the second of three articles, we go back to basics to take a look at what you need to consider at the start of your project to give yourself the best chance of success.”
This has necessarily been a brief look at Project Initiation. We welcome comments and would be happy to help you get your project off to a good start.
Making IT Work for Your Business - 4 Key Concepts to Get the Most Out of Your...Audrey Reynolds
Learn key tools, processes and best practices from the Business Analyst toolbox that you can use to make better technology decisions and manage your IT projects effectively.
How to Reach Peak Performance With the Product Management Organizational Heal...Aggregage
The degree of maturity of your product management organization can directly drive your ability to satisfy customers and become more profitable. Our Product Management Organizational Health Checklist and on-demand webinar can help.
Presented at the Health Informatics and Health Information Technology Course, Doctor of Philosophy and Master of Science Programs in Data Science for Health Care (International Program), Faculty of Medicine Ramathibodi Hospital, Mahidol University on October 19, 2017
DOES14 - Pat Reed - Project Labor Cost Accounting for Agile ProjectsGene Kim
Pat Reed, Principal Consultant, iHoriz, Inc.
Accurate Accounting of Project Labor Cost (Capitalization vs. Expensing) on Agile projects and product development continues to be a source of confusion, waste and risk; and remains a blocker to Enterprise Agile Adoption. A myriad of associated risks (impacting Software Development and Dev Ops) include:
Loss of material benefits of utilizing the an Agile methodology (increasing the cost and risk of software development)
Blocking large scale and enterprise adoption of Agile and residual benefits
Creating inconsistencies in interpretation of project cost accounting and defeating FASB’s original intent of generating an accounting standard to protect investor confidence
Increasing the risk of over-expensing software development costs that should be capitalized
Increasing the risk of false audit findings and possible mis-reporting of financial statements
Limiting organizations and industry from fully adopting and leveraging the benefits of an Agile Software Development Methodology
Possible taxation increases, higher volatility in Profit and Loss (P&L) statements and unnecessary manual tracking of programmer and Dev Op hours
Inappropriately expensing Dev Ops and possibly causing unnecessary and inappropriate timetracking
Missed opportunities for innovation and automation
This workshop offers a practical solution that provides clear guidance to ensure that organizations understand Agile project cost accounting and consistently and appropriately account for corporate investment in software and automation.
We’ll start with a quick review of the problem and define acceptance tests and success metrics consistent with accepted government accounting standards and collectively (or in small working groups) share ideas and design a framework; applying critical thinking tools – (Mental models and Ladders of Inference to increase our understanding of how we think; and challenge mental models to effectively solve problems.
Learning Outcomes from the workshop have potential to be extensible to address related challenges of internal and external audits and remediation of findings; Sarbanes Oxley and General Computer Controls compliance; Regulatory Industry Compliance, etc.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
CH-2.1 Conceptualizing and Initializing the IT Project.ppt
1. 1
2.1 Conceptualizing and Initializing The IT Project
Chapter 2:
Phases of Information Systems Project
Management
2. 2
Content
An IT Project Methodology
IT Project Management Phases
IT Project Management Foundation
Relationships Among Process Groups and
Knowledge Areas
Business Case
Process for Developing the Business Case
Steps to develop MOV
Business Case Template
Project Selection and Approval
Balanced Scorecard Approach
MOV supports the Organization’s Scorecard
Summary
3. 3
Methodology
What
A strategic level plan for managing and controlling IT projects
Why
The team can focus on the tasks at hand, instead of worrying about what to
do next
A common language allows project team, sponsor, and others in the
organization to communicate more effectively
The standardization allows evaluations between different projects
How
A template for initiating, planning, & developing an information system
Recommends in support of an IT project:
Phases, 5 of them
deliverables
processes
tools
knowledge areas
Must be flexible and include best “practices” learned from experiences over
time, e.g. regardless whether SDLS or RAD is used.
5. 5
Five Phases
Phase 1: Conceptualize and Initialize
Define goal, funding, benefit, feasibility and risk
The goal and the analysis of the alternatives will be
presented in a business case
Phase 2: Develop the Project Charter and Detailed
Project Plan defined in terms of project’s:
scope
schedule
budget
quality objectives
6. 6
Five Phases…
Phase 3: Execute and Control the Project using
the approaches such as SDLC .
Phase 4: Close Project
Phase 5: Evaluate Project Success
Postmortem (Investigation) by project manager and
team of entire project
Evaluation of team members by project manager
Outside evaluation of project, project leader, and team
members
Evaluate project’s organizational value
9. 9
Tools - e.g. Microsoft Project, CASE
Infrastructure
Organizational Infrastructure
Project Infrastructure
Project Environment
Roles and Responsibilities of team members
Processes and Controls
Technical Infrastructure
Project Management Knowledge Areas
IT Project Management Foundation…
13. 13
Project Goal ?
Install new hardware and software to improve
our customer service to world class levels
Respond to 95% of our customers’ inquiries
within 90 seconds with less than 5%
callbacks about the same problem.
versus
14. 14
A Really Good Goal
Our goal is to land a man on the moon
and return him safely by the end of the
decade.
John F. Kennedy
15. 15
The Business Case
Purpose:
Definition of Business Case, an analysis of the
organizational value, feasibility, costs, benefits,
and risks of the project plan.
Attributes of a Good Business Case
Details all possible impacts, costs, benefits
Clearly compares alternatives
Objectively includes all pertinent information
Systematic in terms of summarizing findings
17. 17
Developing the Business Case…
Step 1: Select the Core Team with a goal of
providing the following advantages:
Credibility
Alignment with organizational goals
Access to the real costs
Ownership
Agreement
18. 18
Developing the Business Case…
Step 2: Define Measurable Organizational
Value (MOV) the project’s overall goal
MOV must:
be measurable
provide value to the organization
be agreed upon
be verifiable
Aligning the MOV with the organizational strategy
and goals.
22. 22
Steps to develop MOV…
MOV Step 2 - Identify the desired
value of the IT project
Better
Faster
Cheaper
Do more
23. 23
Steps to develop MOV…
MOV Step 3 - Develop an appropriate metric
provide the project team a target or directive
set expectations among all stakeholders
Provide a mean to evaluate project’s
success/failure
Combination of the following common metrics
Money ($ £ ¥)
Percentage (%)
Numeric Values
24. 24
Steps to develop MOV…
MOV Step 4 - Set a time frame for
achieving MOV (after the product of the
project is delivered and used, which is
not the same thing when the project is
completed.) and when MOV will be
evaluated.
MOV Step 5 - Verify and get agreement
from the project stakeholders: if the
MOV is accurate and realistic
25. 25
Steps to develop MOV…
MOV Step 6 - Summarize MOV in a
Clear, Concise Statement or Table.
Year MOV
1 20% return on investment
500 new customers
2 25% return on investment
1,000 new customers
3 30% return on investment
1,500 new customers
26. 26
Developing the Business Case…
Step 3: Identify Alternatives
Base Case Alternative
Alternative Strategies
Change existing processes without more IT investment
Adopt/Adapt systems from other organizational areas
Reengineer existing system
Purchase off-the-shelf applications package
Custom build new solution using internal resources or
outsourcing the development to another company
27. 27
Developing the Business Case…
Step 4: Define Feasibility and Asses Risk
Economic feasibility
Technical feasibility
Organizational feasibility (the impacts)
Other feasibilities
Risk focus on
Identification
Assessment
Response
28. 28
Developing the Business Case…
Step 5: Define Total Cost of Ownership (TCO), the
concept referring to the total cost pf acquiring,
developing, maintaining, and supporting the
application system over its useful time.
Direct or Up-front costs – initial purchase price of all
hardware, software, and telecommunications equipment,
development and installation costs, consulting or outsourcing
costs, etc.
Ongoing Costs – Salaries, training, upgrades, supplies,
maintenance, etc.
Indirect Costs – Initial loss of productivity, time lost because
of system down,
29. 29
Developing the Business Case…
Step 6: Define Total Benefits of Ownership
(TBO)
Increasing high-value work
Improving accuracy and efficiency
Improving decision-making
Improving customer service
30. 30
Developing the Business Case…
Step 7: Analyze Alternatives using financial
models and scoring models
Payback
Payback Period = Initial Investment
Net Cash Flow
= $100,000
$20,000
= 5 years
31. 31
Developing the Business Case…
Break Even
Materials (putter head, shaft, grip, etc.) $12.00
Labor (0.5 hours at $9.00/hr) $ 4.50
Overhead (rent, insurance, utilities, taxes,
etc.)
$ 8.50
Total $25.00
If you sell a golf putter for $30.00 and it costs $25.00 to make, you have
a profit margin of $5.00:
Breakeven Point = Initial Investment / Net Profit Margin
= $100,000 / $5.00
= 20,000 units
32. 32
Developing the Business Case…
Return on Investment
Project ROI =(total expected benefits – total expected costs)
total expected costs
= ($115,000 - $100,000)
$100,000
= 15%
33. 33
Developing the Business Case…
Net Present Value
Year 0 Year 1 Year 2 Year 3 Year 4
Total Cash Inflows $0 $150,000 $200,000 $250,000 $300,000
Total Cash Outflows $200,000 $85,000 $125,000 $150,000 $200,000
Net Cash Flow ($200,000) $65,000 $75,000 $100,000 $100,000
NPV = -I0 + (Net Cash Flow / (1 + r)t)
Where:
I = Total Cost or Investment of the Project
r = discount rate, or cutoff rate, hurdle rate
t = time period
34. 34
Net Present Value …
Time Period Calculation
Discounted Cash
Flow
Year 0 ($200,000) ($200,000)
Year 1 $65,000/(1 + .08)1 $60,185
Year 2 $75,000/(1 + .08)2 $64,300
Year 3 $100,000/(1 + .08)3 $79,383
Year 4 $100,000/(1 + .08)4 $73,503
Net Present Value (NPV) $77,371
Developing the Business Case…
38. 38
Project Selection and Approval
Previous procedure for the business case
preparation is for project managers. This portion
contains suggestions for executives of the
organization.
It includes:
The IT Project Selection Process
The Project Selection Decision
IT project must map to organization goals
IT project must provide verifiable MOV
Selection should be based on diverse measures such as
tangible and intangible costs and benefits
various levels throughout the organization
40. 40
New measurements and indicators
for the value of IT project
Financial perspective
Such as economic value added (EVA), other than traditional financial
measures. EVA takes into account of the cost of debt and equity.
Link financial performance with customer-focused initiatives, internal
operations, and investments in employees and the infrastructure to
support their performance
Customer perspective
Customer satisfaction, retention and return.
Internal process perspective
Efficiency/effectiveness of the processes – in both long and short terms
Innovation and learning perspective
Consider the investment in people, such as training, certification, etc.
41. 41
Reasons Balanced Scorecard Approach
Might Fail (Schneiderman 1999)
Nonfinancial variables incorrectly identified as primary
drivers
Metrics not properly defined
Goals for improvements negotiated not based on
requirements
No systematic way to map high-level goals
Reliance on trial and error as a methodology
No quantitative linkage between nonfinanacial and
expected financial results
43. 43
Summary
Define what a methodology is and describe the role it
serves in IT projects.
Identify the phases and infrastructure that makes up
the IT project methodology introduced in this chapter.
Develop and apply the concept of a project’s
measurable organizational value (MOV).
Describe and be able to prepare a business case.
Distinguish between financial models and scoring
models.
Describe the project selection process as well as the
Balanced Scorecard approach.
44. 44
Review Questions
What are the phases in IT project management?
How many steps are there in an IT project
management procedure?
What is a deliverable in a project phase?
What is a IT project management methodology?
Why do we need to develop a business case?
What is MOV?