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business
management information systems

Questions and Answers of Management Information Systems

Histogram (or bar chart) where the values being plotted are arranged in descending order.Match each of the key terms with the definition that best fits it.A. Balanced scorecard B. Benchmarking C.
Operational definitions of specific, processes, events, or products, as well as an explanation of how they will be measured in terms of quality.Match each of the key terms with the definition that
Structured and independent review activities designed to review quality management procedures and to identify potential lessons learned.Match each of the key terms with the definition that best fits
The cost to improve or ensure quality measures, as well as the cost associated with a lack of quality.Match each of the key terms with the definition that best fits it.A. Balanced scorecard B.
The degree to which a set of inherent characteristics fulfill requirements.Match each of the key terms with the definition that best fits it.A. Balanced scorecard B. Benchmarking C. Capability
The overall intentions and direction of an organization with regard to quality, as formally expressed by top management.Match each of the key terms with the definition that best fits it.A. Balanced
The process of ensuring that the project meets the quality standards outlined in the Plan Quality Management process.Match each of the key terms with the definition that best fits it.A. Balanced
The process of identifying relevant quality standards and developing a plan to ensure the project meets those standards.Match each of the key terms with the definition that best fits it.A. Balanced
The process of monitoring results to determine if the quality standards of the project are being met.Match each of the key terms with the definition that best fits it.A. Balanced scorecard B.
The study of a competitor’s product or business practices in order to improve the performance of one’s own company.Match each of the key terms with the definition that best fits it.A. Balanced
A diagramming technique that graphically shows, in descending order, which risks can cause the greatest variability on some outcome.Match each of the key terms with the definition that best fits
A diagramming technique used to evaluate courses of action in terms of their potential cost and benefits relative to other courses of action.Match each of the key terms with the definition that best
A documented plan for risk response.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C. Identify Risks D. Implement Risk
A formal record listing all project risks, explaining the nature of the risk and management of the risk.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B.
A risk response strategy designed to avoid potential project risks.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C.
A risk response strategy designed to transfer risk to another party.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C.
A risk response strategy in which risks are simply accepted and contingency strategies are planned.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B.
A risk response strategy in which steps are taken to mitigate project risk.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value
A risk response strategy that involves assigning the response to a higher organizational level if the threat is beyond the authority of the project manager.Match each of the key terms with the
A statistical technique that captures the average value of potential projects by analyzing the likelihood of possible project outcomes as well as each outcome’s financial consequence.Match each of
A systematic approach to planning the risk management activities of a given project.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary
A technique used during qualitative risk analysis to test the assumptions made during risk identification.Match each of the key terms with the definition that best fits it.A. Decision tree analysis
A technique used to analyze project risk in terms of its probability of occurrence and its impact on project outcomes.Match each of the key terms with the definition that best fits it.A. Decision
A technique used to examine the potential impact of specific risks to a project.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value
An event or situation that has happened and has a negative effect on one or more project objectives.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B.
A tool used to determine whether important technical milestones are being met.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value
An overall plan used to outline risks and the strategies used to manage them.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value
An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.Match each of the key terms with the definition that best fits it.A. Decision
Any contracts for the purpose of risk transference during the project.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis
Any risks remaining after risk response strategies have been applied.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C.
Any risks resulting from the application of a risk response strategy.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C.
Audits designed to evaluate the effectiveness of risk response strategies and risk owners.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected
Event that serves as an early warning of risk.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C. Identify Risks D.
Project member responsible for specific risk activity decisions.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C.
Reviews designed to review existing risk activities and to monitor any changes to the project.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected
The analysis of the probability of occurrence and the impact of risk on project objectives using numerical techniques.Match each of the key terms with the definition that best fits it.A. Decision
The evaluation of the potential impact and likelihood of specific risk occurrence.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary
The process of developing methods for responding to project risks.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis C.
The process of identifying and documenting a project’s potential risk.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary value analysis
The process of monitoring identified risks for change and controlling those changes.Match each of the key terms with the definition that best fits it.A. Decision tree analysis B. Expected monetary
The process of reacting to identified project risks so as to minimize threats and maximize opportunities and manage overall project risk exposure.Match each of the key terms with the definition that
Define risk.
Explain how project risk can have both a positive and a negative effect on a project objective.
Describe how risk can affect each stage of the project life cycle.
What are the different risk management processes? Provide a brief description of each.
Give two examples of risk during an information systems development project.
List two inputs for each of the Project Risk Management processes (note that the Implement Risk Responses process is not discussed in this chapter).
List two outputs for each of the Project Risk Management processes (note that the Implement Risk Responses process is not discussed in this chapter).
List two tools or techniques for each of the Project Risk Management processes (note that the Implement Risk Responses process is not discussed in this chapter).
Describe probability/impact risk analysis.
Discuss qualitative risk analysis.
Discuss the various techniques for quantitative risk analysis.
List the common elements of a risk response plan.
Compare and contrast risk avoidance, risk transference, risk mitigation, and risk acceptance.
Explain the different categories of risk pertaining to the uniqueness of IS projects.
Identify the common sources of risks in information systems projects. Provide suggestions for managing them.
Find an example of a risk management plan on the internet or any other source. What are the elements of this plan?
Using the internet or any other source, write a two-page report on information gathering techniques.Be sure to discuss the information gathering techniques discussed in the chapter.
Think of a recent project that you were involved in (or the project you are involved in as part of your current course). What were some of the risks you faced? Were some of the risks more likely to
Using the internet or any other source, write a two-page report on qualitative and quantitative risk analysis. Be sure to discuss the analyses discussed in the chapter.
Define risk as it relates to your project.All projects involve a certain level of risk. Project risk is any uncertain event that may have a positive or negative effect on a project objective. Project
Identify sources of risks that will occur at different stages of your project.All projects involve a certain level of risk. Project risk is any uncertain event that may have a positive or negative
Referring to Chapter 8 (which discusses quality management), develop a cause-and-effect, or fishbone, diagram to trace the root causes of the risks you identified for Question 2.All projects involve
Discuss the different techniques (e.g., risk escalation, avoidance/exploitation, transference/sharing, mitigation/enhancement, and acceptance)that you will use to address these risks.All projects
Develop a risk response plan, which is a documented plan for risk response. The document should contain• The identified risks• The project areas or objectives the risk may affect• The roles and
A document provided to vendors to ask them to propose a solution to a specific problem related to your project.Match each of the key terms with the definition that best fits it.A. Best-of-breed
A method used to quantitatively compare proposals that are received from potential vendors.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract
A plan that addresses such issues as who will prepare the evaluation criteria, how multiple vendors will be managed, where standardized procurement documents can be obtained, and how procurement will
A service provisioning model where resources (such as processing, data storage, or networking) are provided as needed, and the organization only pays for the services used.Match each of the key terms
A strategy of using different software products from different sources (including in house development)to capitalize on the strengths of different products.Match each of the key terms with the
A system that integrates individual traditional business functions into a series of modules so that a single transaction occurs seamlessly within a single information system rather than over several
A system used to select vendors based on factors such as past performance, quality ratings, delivery performance, and contractual compliance.Match each of the key terms with the definition that best
A system using minimum values for one or more performance criteria to eliminate proposals that do not meet the minimum values.Match each of the key terms with the definition that best fits it.A.
A technique to determine whether a product or service should be produced in-house or procured from an outside vendor.Match each of the key terms with the definition that best fits it.A. Best-of-breed
A type of contract specifying a fixed price for a product/service.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract negotiation C.
A type of contract that involves payment for the actual cost of the product plus a fee that represents the vendor’s profits.Match each of the key terms with the definition that best fits it.A.
A type of contract where vendors provide an hourly rate and estimate the amount of time and materials required.Match each of the key terms with the definition that best fits it.A. Best-of-breed
Company in the business of developing and selling off-the-shelf software.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract negotiation C.
Criteria used to rate proposals that are received in response to a request for proposals.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract
Discussions between the buyer and seller to clarify and reach agreements on the structure and the requirements of the contract.Match each of the key terms with the definition that best fits it.A.
Document prepared for potential vendors that describes the service or product being sought.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract
Documents used to solicit proposals from vendors.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract negotiation C. Cost-reimbursable contract D.
Estimates prepared independently of proposals which act as a check against the prices offered in proposals.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy
Firm that helps companies develop custom information systems for internal use or develop, host, and run applications for customers.Match each of the key terms with the definition that best fits it.A.
Off-the-shelf software that cannot be modified to meet the specific, individual needs of an organization.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B.
Provision of computing resources on the basis of users’ needs.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract negotiation C.
Systems software, applications, and programming languages of which the source code is freely available for use and/or modification.Match each of the key terms with the definition that best fits it.A.
The process of determining which project needs can best be met by external acquisition and planning how procurement activities are performed.Match each of the key terms with the definition that best
The process of obtaining responses to the procurement documents produced during Plan Procurement Management.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy
The procurement of products and/or services from an outside vendor.Match each of the key terms with the definition that best fits it.A. Best-of-breed strategy B. Contract negotiation C.
Describe the types of software and systems that IT services firms produce.
What is Software-as-a-Service?
What is open source software, and what are its benefits?
Explain the Plan Procurement Management process, including its inputs, processes, and outputs.
What is a statement of work? Why is it so important to procurement?
Explain how to conduct procurement, including its inputs, processes, and outputs.
What is an RFP? What is it good for?
What are the basic contents recommended for any RFP?
Explain how seller responses are requested.
Explain how sellers are selected.

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