Essentials of Systems Analysis and Design (6th Edition)
6th Edition
ISBN: 9780133546231
Author: Joseph Valacich, Joey George
Publisher: PEARSON
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Expert Solution & Answer
Chapter 4, Problem 6M
Program Description Answer
Economic feasibility is defined as the method to identify the financial benefits and costs related to the development of a project.
Hence, correct answer is “Economic feasibility”.
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Question 6
Part (a). One of the essential steps of the system development life cycle is preparing feasibility studies, including technical, economic, legal, operational and schedules feasibility. We have discussed these feasibilities in the interactive tutorials in details. Discuss these feasibilities briefly. And elaborate cost-benefit analysis under economic feasibility
Preparing feasibility studies, which include technical, economic, legal, operational, and schedule feasibility, is an important step in the system development life cycle. We go over these possibilities in depth in the interactive tutorials.Briefly discuss these possibilities. Also included in the economic feasibility section is a detailed cost-benefit analysis.
Course name: Information Systems Project Management
1. Prepare and print a one-page cost model for the project, similar to the provided in Figure 7-2. Use the following WBS or the WBS you developed in Chapter 5, and be sure to document your assumptions in preparing the cost model. Assume a labor rate of $20/hour for yourself(the oroject manager)and team members(Kim, Ashok, anfd Alfreda). You will pay Bobby, your IT guy, $30/hour.The project will fund refreshments for the four shark tank like events and prizes for the winners, at a cost of $1,000 for each event.
1.1 Project management
1.2 Hardware(3 laptops and Internet access for Kim, Ashok, and Alfreda)
1.3 Software
1.3.1 Outsourced
1.3.1.1 Domain name and site hosting
1.3.1.2 Donation acceptance feature of website
1.3.1.3 Video creation for website
1.3.2 In-house Development
1.3.2.1 Guidelines and templates for events
1.3.2.2 Acceptance of ideas for needed new products or services
1.3.2.3 Custom site for 200 events
1.3.3 Testing
1.4…
Chapter 4 Solutions
Essentials of Systems Analysis and Design (6th Edition)
Ch. 4 - Prob. 1MCh. 4 - Prob. 2MCh. 4 - Prob. 3MCh. 4 - Prob. 4MCh. 4 - Prob. 5MCh. 4 - Prob. 6MCh. 4 - Prob. 7MCh. 4 - Prob. 8MCh. 4 - Prob. 9MCh. 4 - Prob. 10M
Ch. 4 - Prob. 11MCh. 4 - Prob. 12MCh. 4 - Prob. 13MCh. 4 - Prob. 14MCh. 4 - Prob. 15MCh. 4 - Prob. 16MCh. 4 - Prob. 17MCh. 4 - Prob. 18MCh. 4 - Prob. 19MCh. 4 - Prob. 20MCh. 4 - Prob. 21MCh. 4 - Prob. 22MCh. 4 - Prob. 1RQCh. 4 - Describe several project evaluation criteria.Ch. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - What are the potential consequences of not...Ch. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - Prob. 10RQCh. 4 - Prob. 11RQCh. 4 - Prob. 12PECh. 4 - Prob. 13PECh. 4 - Prob. 14PECh. 4 - Prob. 15PECh. 4 - Prob. 16PECh. 4 - Prob. 17PECh. 4 - Prob. 18PECh. 4 - Prob. 19PECh. 4 - Prob. 20PECh. 4 - Prob. 21PECh. 4 - Assume monetary benefits of an information system...Ch. 4 - Prob. 23PECh. 4 - Prob. 24PECh. 4 - Prob. 25PECh. 4 - Prob. 26PECh. 4 - Prob. 27PECh. 4 - Prob. 28PECh. 4 - Prob. 29DQCh. 4 - Prob. 30DQCh. 4 - Prob. 31DQCh. 4 - Prob. 32DQCh. 4 - Prob. 33CPCh. 4 - Prob. 34CPCh. 4 - Prob. 35CPCh. 4 - Prob. 36CQCh. 4 - Prob. 37CQCh. 4 - Identify a preliminary set of tangible and...Ch. 4 - Prob. 39CQCh. 4 - If you were assigned to help Jim with this...Ch. 4 - Prob. 41CQCh. 4 - Prob. 42CQCh. 4 - In Question 4, you analyzed the risks associated...
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Similar questions
- Define the Pareto principle, and discuss how it applies to prioritizing system requirements.arrow_forwardPart 1: Planning PhaseUnder this section, include the following: • Project identification – Chose one of the projects above (Project Title, Project Description precisely stating the Core Problem to be solved, Primary Customer and Stakeholders) • Feasibility studies (Technical Feasibility, Economic Feasibility and Organizational Feasibility) • Adopt an SDLC development methodology • List the Tasks to be Performed and Develop a Work Plan (Gantt Chart) Part 2: Analysis PhaseIn this section, you are required to determine the main business requirements; consequently, the following must be included:• List the functional and nonfunctional business requirements for the system. • Create Use Cases for each requirement• Draw context diagram as well as level 0 Data Flow Diagram• Identify Entities, attributes, and relationships.• Based on these entities and relationships, draw ER diagram with specifying the cardinalities constrains. 3: Design PhaseUnder this section, include the following:• Draw a…arrow_forwardEven the simplest projects may benefit from using the Spiral Model for planning and management purposes.arrow_forward
- Under this section, include the following: • Project identification – Chose one of the projects above (Project Title, Project Description precisely stating the Core Problem to be solved, Primary Customer and Stakeholders) • Feasibility studies (Technical Feasibility, Economic Feasibility and Organizational Feasibility) • Adopt an SDLC development methodology • List the Tasks to be Performed and Develop a Work Plan (Gantt Chart) In this section, you are required to determine the main business requirements; consequently, the following must be included:• List the functional and nonfunctional business requirements for the system. • Create Use Cases for each requirement• Draw context diagram as well as level 0 Data Flow Diagram.arrow_forwardExplain the importance of aligning a risk mitigation plan's scope with the original risk assessment. Discuss the consequences of scope creep and how to effectively manage project boundaries to prevent cost escalation. Provide examples of situations where maintaining scope requires saying "no" to additional countermeasures or functionalities that fall outside the defined boundaries of the mitigation plan.arrow_forward2. Due to the limitations of the weighted scoring model (weighting scheme), briefly discuss how Coady can use the following financial models for project selection.2.1. Net Present Value 2.2. Payback Analysisarrow_forward
- Do as required (answer FOUR only) 1-Why is the Waterfall SDLC model recommended for professionals developers? 2- What is the overlap process in SDLC? 3- Monitoring progress in the Spiral projects is less daunting than waterfall projects, Why? 4- Give one example of a tool uses to record information, and one tool to draw project diagrams. 5- The picture below is a screenshot from Swansea University website. From this picture find the information system, system and subsystems. Swansea University Search Swansea University Prifysgol Abertawe International Our Research Business Alumni Undergraduate Postgraduate Courses Taught Courses Accommodation Research Programmes Parents and Guardians Guide to Open Days University How to Apply Study Open Days at Swanseaarrow_forwardThe bid process includes defining and documenting functional requirements. Discuss why, even if a bid is not necessary, this might be useful in the selection of an ERP system,arrow_forwardThe Spiral Model may be useful for planning and managing even the smallest of projects.arrow_forward
- The board of directors of a company decides that senior management has to be rewarded in order to achieve the company's objectives. The board of directors selects whether or not to award bonuses based on growth in share value at the end of each fiscal year. Bonuses will be given in shares, which the managers can keep or sell on the open market. What are the ramifications of implementing a bonus system like this?arrow_forwardDo as required (answer FOUR only) 1-Why is the Waterfall SDLC model recommended for professionals developers? 2- What is the overlap process in SDLC? 3- Monitoring progress in the Spiral projects is less daunting than waterfall projects, Why? 4- Give one example of a tool uses to record information, and one tool to draw project diagrams. 5- The picture below is a screenshot from Swansea University website. From this picture find the in formation system, system and subsystems. Swansea Q Search Swansea University University Prifysgol Abertawe Study International Our Research Business Alumni Open Days at Swanse Undergraduate Postgraduate Courses Taught Courses Accommodation Research Programmes Parents and Guardans Guide to Open Days University How to Applyarrow_forwardExplain the distinctions between planning for the short term, the intermediate term, and the long term.arrow_forward
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