Weekly Questions Week 11

Weekly Questions (Week 11)

Chapter 11: Systems Development And Project Management

1. Explain the triple constraint and its importance in project management.

The triple constraint refers to the interdependent relationship between the 3 primary variables of a project. These variables include Scope, Resources and Time, whereby an alteration/change in one will inevitably impact and change the other 2 variables.

Diagram 1

Project management can be defined as the discipline of planning, organizing and application of skills, knowledge and tools to complete project requirements in order to achieve goals and objectives. As time and resources are limited, understanding the triple constraint framework will allow a project manager a greater possibility to complete projects.  

For further information, visit:
http://programsuccess.wordpress.com/2011/05/02/scope-time-and-cost-managing-the-triple-constraint/

2. Describe the two primary diagrams most frequently used in project planning

Two diagrams which are used in project management include:

Diagram 2 (PERT Chart)

•       PERT Chart – Program Evaluation And Review Technique Chart is a graphical model which provides a visual representation of a project’s tasks and the relationship between these tasks (dependency). In a PERT Chart, the schedule and starting and ending times of a particular project task are displayed. There are also arrows connecting tasks together indicating the dependence on the completion of one task is essential for the start of another. 

Diagram 3 (Gantt Chart)

• Gantt Chart – a bar chart which provides a visual representation of the scheduled project tasks with the calendar, whereby the tasks are on the vertical axis and the time frame on the horizontal axis
  

3. Identify the three primary areas a project manager must focus on managing to ensure success

Three primary areas include:

Diagram 4

Managing People

•          Manage people from different sections of the business (cross functional teams)

•           Resolving conflicts which may arise

•           Balancing professional and personal needs with the needs of the project.

Managing Communication

Diagram 5

•          Keeping all stakeholders up-to-date and informed about project schedule

•          The channels of communication should be a formal part of the project management  plan.(Communications plan)

•          Managers need to communicate accurate, meaningful and timely information

Managing Change

Diagram 6

•          Change is inevitable and successful businesses anticipate and react to change

•          Change management are techniques used to assist the process of implementing changes to a business.

•           Examples of change include the implementation of new information systems, change in legislation requiring new requirements or the change in time and resources available.

4. Outline 2 reasons why projects fail and two reasons why projects succeed.

Reasons Projects fail:

•          Failure to or lack of communicate between personnel
•      Projects expectations may be unrelistic

Reasons Projects succeed:

• Goals of the project are SMART (Specific, Measurable, Achievable, Realistic, Time scaled) 
• Constant communication between stakeholders and presenting accurate information
  For further information, visit:http://www.flyingsolo.com.au/working-smarter/project-management/project-management-why-projects-fail
  http://www.modernanalyst.com/Community/CommunityBlog/tabid/182/articleType/ArticleView/articleId/439/26-reasons-why-projects-succeed-or-fail.aspx

Weekly Questions Week 10

Weekly Questions (Week 10)

Chapter 9: Customer Relationship Management And Business Intelligence

1. What is your understanding of CRM?

Customer Relationship Management or CRM is an implemented strategy for managing a business’ interaction with consumers. As a business has a relationship with its consumers, this can increase customer loyalty and as a result, allows the business to maintain or increase market share and profitability. Customer relationship management also aims to attract new customers, retain current customer and persuade former consumers to reengage with the business.

For further information, visit:

http://en.wikipedia.org/wiki/Customer_relationship_management

http://searchcrm.techtarget.com/definition/CRM

2. Compare operational and analytical customer relationship management.

‘Operational Customer Relationship Management’ supports daily operations and transactional processes. Conversely, ‘Analytical Customer Relationship Management’ supports back office operations and strategic analysis. Middle management can use analytical CRM systems to better understand the needs and wants of consumers, in order to maintain or increase market share and profitability. The distinguishable difference relating to the 2 types of CRM’s is the interaction between businesses and consumers. Operational CRM deals directly with consumers, however, analytical CRM does not.

For further information, visit:
Textbook: Baltzan, Philips, Lynch & Blakey, Business Driven Information Systems (Australian/New Zealand edition)  

http://it.toolbox.com/wiki/index.php/Operational_Customer_Relationship_Management:_The_Basics

http://datawarehouse.ittoolbox.com/documents/what-is-analytical-crm-18387

3. Describe and differentiate the CRM technologies used by marketing departments and sales departments

Marketing Departments:

• List Generator – Gathers customer information from a range of sources and segments this information into a marketing campaign. This is done through the creation of different marketing mixes aimed at different segments of the total market.

• Campaign management – guides users through the defining, planning, and scheduling of a marketing campaign.

• Cross-selling and up-selling – cross selling involves selling additional products to consumers, however, up selling involves increasing the value of the sale. This can be seen in fast food restaurants when asking if the consumer wants a drink or fries to complement what is already bought. However up selling can be seen when consumer is asked if they want to “upsize”. 
  Sales Department:
  ·         Sales management CRM systems – automate phases of the sales process, this assists sales representatives organise and direct all of their accounts.
  ·         Contact management CRM systems – deals with / maintain contact with existing customers. Maintains customer contact information.
  ·         Opportunity management CRM systems – targets marketing mix and sales opportunity at potential customers and future sales.
  For further information, visit:
  Textbook: Baltzan, Philips, Lynch & Blakey, Business Driven Information Systems (Australian/New Zealand edition) 
  

  http://en.wikipedia.org/wiki/Customer_relationship_management

  http://www.enabling.net/solutions-crm.shtml

   

    4. How could a sales department use operational CRM technologies?

Sales department can use operational CRM technologies in an attempt to increase sales through contacting existing and potential customers. Sales management CRM systems also automate the sales process which organises the consumer’s accounts, providing sales representatives with important information about the consumers. This could be used in up-selling or cross-selling when the consumer buys in future.  

For further information, visit:
Textbook: Baltzan, Philips, Lynch & Blakey, Business Driven Information Systems (Australian/New Zealand edition) 

5. Describe business intelligence and its value to businesses

“Business intelligence refers to applications and technologies that are used to gather, provide access to and analyse data and information to support decision making efforts”(Baltzan, Phillips, Lynch, Blakey 2010).Business intelligence has great importance and can be considered as invaluable. As markets are continuously changing, businesses need to identify and understand the changing needs and wants of consumers. As such, business intelligence can assist businesses in identifying if marketing campaigns are successful, which actions/activities generate profit or incur losses and also assist in identifying good and bad customers.  

For further information, visit:
Textbook: Baltzan, Philips, Lynch & Blakey,Business Driven Information Systems (Australian/New Zealand edition)  

http://etl-tools.info/en/bi/datawarehouse_concepts.htm
http://www.waterstons.com/Service/Consulting/Business+Intelligence/?tab=2 

6. What are two possible outcomes a company could get from using data mining?

Through the use of data mining, patterns and relationships can be created. Such tools/techniques which can assist in data mining include Cluster analysis, association detection and statistical analysis. When patterns and relationships are created, businesses can alter existing or create a new marketing mix in an attempt to persuade new and existing consumers to purchase their products and services, giving the business an opportunity to increase profits.  As such this can be seen as a possible outcome of data mining. Another outcome of data mining is the opportunity of businesses to enter a niche market through the specialisation of goods and services when patterns are created.

For further information, visit:
Textbook: Baltzan, Philips, Lynch & Blakey, Business Driven Information Systems (Australian/New Zealand edition)   
http://www.crisp-dm.org/Process/index.htm
http://www.webpagefx.com/Lead-Management-System.html  

Weekly Questions Week 9

Week 9 Questions

Define the term operations management

Operations management is the management of systems or processes that convert or transform resources into goods and services

Explain operations management’s role in business
Operations management's role in business is to:

• Forecasting
• Capacity planning
• Scheduling
• Managing inventory
• Assuring quality
• Motivating and training employees
• Locating facilities

Describe the correlation between operations management and information technology

Management can use IT to heavily influence OM decisions including productivity, costs, flexibility, quality and customer satisfaction. One of the benefits of IT on OM is making operation decisions because OM exerts considerable influence over the defree to which the goals and objectives of the organisation are realised.

Explain supply chain management and its role in a business
Supply chain management involves the management of information flows between and among stages in a supply chain to maximise total supply chain effectiveness and profitability.

List and describe the five components of a typical supply chain

Five components of a typical supply chain are:

• Plan: the strategic portion of supply chain management. A company must have a plan for managing al the resources that go toward meeting customer demand for products or services
• Source: companies must carefully choose reliable suppliers that will deliver goods and services required for making products
• Make: The step where compnaies manufacture thier products or services
• Deliver: THe step is commonly referred to as logistics. This is the set of processes that plans for and controls the efficient and effective transportation and storage of suppliees from suppliers to customers
• Return: The most problematic step. Companies must create a network for receiving defective and excess products and support customers who have problems with delivered products

Define the relationship between information technology and the supply chain.

Information technology and the supply chain are related because enable and organistation to:

• decrease the power of its buyers
• increase its own supplier power
• increase switching costs to reduce the threat of subsitute products or services
• create entry barriers thereby reducing the threat of new entrants
• increase efficiencies while seeking a competitive advantage through cost leadership

All answers came from Business Driven Information Systems (Baltzan, Phillips, Lynch, Blakey)