
According to the Project Management Institute, why would a project require an executive sponsor
To communicate project information to stakeholders
To provide financial resources for a project
To define specifications for product/output of the project and managing scope
To define all project roles and responsibilities
What is outsourcing?
The process of an organization engaging another company within the same country for services
The act of contracting an outsourcing agreement with a company in a nearby country
A common approach using professional expertise within an organization to develop and maintain the organization's IT system
An arrangement by which one organization provides a service or services for another organization that chooses not to perform them in-house
What is a program evaluation and review technique (PERT) chart?
A graphical network model that depicts a project's tasks and the relationships between those tasks
A simple bar chart that lists project tasks vertically against the project's time frame, listed horizontally
A trigger that enables a project manager to close a project prior to completion
The longest stretch of dependent activities and measuring these activities from start to finish
What is one of the SMART criteria?
Marketed
Measurable
Temperate
Strategic
Which factor is a primary reason for project failure?
Lack of capital
Faulty data
The balance of the triple constraints
Mishandled debt
What is agile methodology?
A sequence of phases in which the output of each phase becomes the input for the next
A methodology that aims for customer satisfaction through early and continuous delivery of useful software components developed by an iterative process with a design point that uses the bare minimum requirements
A methodology that emphasizes extensive user involvement in the rapid and evolutionary construction of working prototypes of a system to accelerate the systems development process
A set of policies, procedures, standards, processes, practices, tools, techniques, and tasks that people apply to technical and management challenges
What is the definition of waterfall methodology?
A methodology that emphasizes extensive user involvement in the rapid and evolutionary construction of working system prototypes to accelerate the systems development process
A methodology that uses small teams to produce small pieces of deliverable software using sprints, or 30-day intervals, to achieve an appointed goal
A methodology that aims for customer satisfaction through early and continuous delivery of useful software components developed by an iterative process with a design point that uses the bare minimum requirements
A sequence of phases in which the output of each phase becomes the input for the next
What is the definition of the systems development life cycle (SDLC)?
The overall process for developing information systems from planning and analysis through implementation and maintenance
Software that supports general business processes and does not require any specific software customization to meet the organization's needs
The set of detailed steps a system must perform along with the expected results of each step
A set of best practices that helps an organization maximize the benefits of an information system while at the same time establishing appropriate controls to ensure minimum errors
What is a metric?
A measurement of the performance of the management information system (MIS) itself, including throughput, speed, and availability
A measurement that evaluates results to determine whether a project is meeting its goals
A quantifiable metric a company uses to evaluate progress toward critical success factors
A baseline value the system seeks to attain
What is enterprise resource planning (ERP)?
A tool that integrates all departments and functions throughout an organization into a single system so that employees can make decisions by viewing enterprise-wide information on all business operations
A tool that helps an organization segment its customers into categories
An ERP component that allows every department in a company to store and retrieve information in real-time, allowing information to be more reliable and accessible
A tool that helps an organization identify its customers across other applications
What is the function of supply chain event management?
It applies technology to the activities in the order life cycle from inquiry to sale
It allows an organization to reduce the cost and time required during the product design process.
It enables an organization to react more quickly to resolve supply chain issues.
It helps an organization reduce the investment in its inventory while improving customer satisfaction through product availability.
What is the definition of project scope?
A list that prioritizes all the business requirements by order of importance to the company
The business need and the justification, requirements, and current boundaries for a project
The overall process for developing information systems from planning and analysis through implementation and maintenance
A set of information that highlights how to use a system and troubleshoot issues or problems
What is a value chain analysis?
The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed
A task at the bottom of the value chain, including business processes that acquire raw materials and then manufacture, deliver, market, sell, and provide after-sales services
A standardized set of activities that accomplish a specific task, such as processing a customer's order
A business tool that views a firm as a series of business processes that add value to a product or servi
What is the definition of Porter's three generic strategies?
A business strategy involving methods that are neither organization- nor industry-specific and can be applied to any business, product, or service
A standardized set of activities that accomplish a specific task, such as processing a customer's order
A task at the bottom of the value chain, including business processes that acquire raw materials and manufacture, deliver, market, sell, and provide after-sales services
The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed
What is an assessment of the competitive forces within the environment in which a company operates to evaluate the potential for profitability in an industry?
SWOT analysis
Value chain analysis
Porter's five forces model
Competitive intelligence
What is a SWOT analysis?
A business tool that views a firm as a series of business processes that add value to a product or service
An assessment of the competitive forces within the environment in which a company operates to evaluate the potential for profitability in an industry
A business strategy involving methods that are neither organization- nor industry-specific and can be applied to any business, product, or service
An evaluation of an organization's strengths, weaknesses, opportunities, and threats to identify significant influences that work for or against business strategies