Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Describe the role of a business analyst in the requirement analysis process and the skills and techniques they employ to ensure project success.
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- Describe project quality management (PQM) for IT projects in terms of planning for quality, quality assurance, and quality control to continuously improve the project’s products and supporting processes. Please provide specific examples.arrow_forwardDefine goals and plans and explain the relationship between them.arrow_forwardNorth American Free Trade Agreement (NAFTA), General Agreement on Tariff and Trade (GATT), U.S.-China Trade Relations Act, and EU and WTO efforts are considered to be _________________. a. Risk management b. Quality problems c. Innovating d. Economic Conditions e. None of the abovearrow_forward
- How does the role of a Solution Consultant differ from a Business Analyst when gathering project requirements?arrow_forwardWhy is earned value management (EVM) not utilized more frequently? Describe how it may be used to manage expenses and gauge project effectiveness. What are some broad guidelines for judging the quality of figures for cost variation, schedule variance, cost performance index, and schedule performance index?arrow_forwardFor the BI software, the IT Manager selected the companion product to the Accounting & HR Software she recommended. All the integration to the accounting databases, as well as a full set of standard reports, was provided “out of the box”. She had negotiated a one-time license cost for this product at $225,000. The funds would have to be committed in the same year as for Project A but the implementation would start one year after the Accounting & HR software had been deployed. The IT Manager predicted that improved decision-making enabled by the software would increase profits by $70,000 the year following implementation, increasing by $6,000 per year thereafter. Support and maintenance costs would amount to $21,500 per year, starting the year following implementation. The IT Manager negotiated to fix (cap) the maintenance and support costs over the ten-year expected life of the software. Perform a Payback Period and Discounted Cash Flow (NPV)analysis and Internal rate…arrow_forward
- The chart below shows the initial investment and expected yearly payback for Project A and Project B Project A Project B Initial Investment $ 300,000 $ 450,000 Expected Yearly PayBack $ 45,000 $ 90,000 For Project A, There has been a change in the expected yearly payback. Years 1 and 2 – you are expecting $45,000 each year. For the next three years, you are expecting $70,000 each year. What would be the average ROI for this alternative?arrow_forwardList at least four items you think are appropriate for inclusion in a portfolio. Why should you include these itemsarrow_forward1.Analyse the significance of gearing and insolvency for project cost managementarrow_forward
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