A Detailed Look to Initiation
Phase of Scope Management
(Part 8)
Dr.Çağatay ÜNDEĞER
Instructor
Bilkent University, Computer Engineering
Middle East Technical University, Game Technologies
&
General Manager
SimBT Inc.
e-mail : [email protected]
CS-413
Bilgisayar Mühendisliği Bölümü – Bilkent Üniversitesi – Fall 2009
1
Scope Management
• Project Management Components
(knowledge areas)
– Project Integration Management
– Project Scope Management
– Project Time Management
– Project Cost Management
– Project Human Resource Management
– Project Communication Management
– Project Quality Management
– Project Risk Management
– Project Procurement Management
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Scope Management Phases
•
•
•
•
•
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Initiation
Scope Planning
Scope Definition
Scope Verification
Scope Change Control
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A Detailed Look to: Initiation
• The process of identifying and authorizing;
– A new project, or
– Continuation of an existing project.
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A Detailed Look to: Initiation
• Requires the following activities:
– Identifying projects
– Classifying and ranking projects
– Selecting projects
– Establishing project charter
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Identifying projects
•
•
No single method to use
Some organizations use;
– Very careful planning process;
• Some use;
– More ad hoc methods.
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Identifying projects
•
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Who is responsible?
– A key member of top management (e.g. a
CEO, a senior executive)
– A steering commitee composed of
managers
– User departments;
• Head of a requesting unit
• A commitee of requesting unit
– A senior IS manager
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Identifying projects
•
Although carefully identifying new projects
has advantages,
– Many organizations do not use a
systematic planning process.
• Projects are resulted from attempts to solve
isolated organizational problems.
• Procedures are likely to change,
– In time, It will be necessary to modify
existing systems.
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Identifying projects
•
•
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Use planning based-approachs.
Planning based-approachs ask the following
question to identify new potential projects:
– What information requirements will
satisfy;
• Decision making needs or
• Business process of enterprice today
and well in the future?
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Identifying projects
•
Advantage of planning-based approach is
that;
– An organization’s informational needs are
less likely to change than its bussiness
process.
• To understand planning-based approach,
need to understand;
– Corporate Strategic Planning, and
– Information Systems Planning.
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Identifying projects
(Corporate Strategic Planning)
•
To make effective decisions, you need to
gain a clear idea of;
– Where an organization is,
– Where it wants to be in the future (vision
of organization), and
– How to make transitions to that desired
future state.
• Planners develop a strategic plan to guide
the transition.
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Identifying projects
(Sample Vision Statement)
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Vision statement of SimBT Inc:
– To provide national and international
science and technology based original
solutions in the area of modeling,
simulation and simulators.
– To realize company revolution on the
concept of
• “Behaving flexible and simple as a
small company,
• But meanwhile having the power of a
big scale organization".
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Identifying projects
(Corporate Strategic Planning)
•
•
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All successful organizations hava a mission.
Mission statement of a company states what
business the company is in.
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Identifying projects
(Sample Mission Statement)
•
Mission statement of Microsoft:
– To enable people and businesses
throughout the world to realize their full
potential.
• Mission statement of SimBT Inc:
– To develop the best M&S prototypes and
turnkey products for Turkish and abroad
customers.
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Identifying projects
(Corporate Strategic Planning)
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Closely linked to their mission,
– Organizations also define several
objective statements that refer to broad
and timeless goals for the organization
• In order to reach a desired future
state.
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Identifying projects
(Sample Objective Statement)
•
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Objective statements of Microsoft:
– Broad customer connection: Connecting
with customers, understanding their
needs and how they use technology, and
providing value through information and
support to help them realize their
potential.
– A global, inclusive approach: Thinking
and acting globally, enabling a diverse
workforce that...
– ...
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Identifying projects
(Sample Objective Statement)
•
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Objective statements of SimBT Inc:
– To bridge the gap among:
•
“Science, technology, turn-key systems“,
•
“University, research centers” and
•
“Industry, acquisition agencies" in the area of
modelling, simulation and simulators.
– To put ourselves in the position of our customers
in order to understand their requirements.
– To make our customers realize their
requirements and utilize the state-of-the-art
technology.
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Identifying projects
(Corporate Strategic Planning)
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A competitive strategy:
– The method by which an organization
attempts, to achieve its mission and
objective.
– An organization’s game plan for playing
in the competitive business world.
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Identifying projects
(Corporate Strategic Planning)
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A competitive strategy:
– Generic strategies:
• Low-cost producer
• Product differentiation
• Product Focus
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Identifying projects
(Corporate Strategic Planning)
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Low-cost producer:
– Competing in an industry on the basis of
product or service cost to the customer
(e.g. very cheap products).
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Identifying projects
(Corporate Strategic Planning)
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Product differentiation:
– Capitalizing on a key criterion requested
by the market (e.g. high quality, high
performance, original style).
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Identifying projects
(Corporate Strategic Planning)
•
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Product Focus:
– Similar to both low-cost and
differentiation strategies.
– But employs a much narrow market focus
(focus on some specific products).
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Identifying projects
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Planning-based approaches:
– Corporate strategic planning, and
– Information Systems planning.
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Identifying projects
(Information Systems Planning)
•
A second planning approach that can help
identifying projects is information systems
planning (ISP).
• An orderly means of;
– Assessing information needs of an
organization, and
– Defining systems, databases, and
technologies that will best satisfy those
needs.
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Identifying projects
(Information Systems Planning)
•
Model current and future organizational
information needs.
• Develop strategies and project plans
– To migrate current information systems
and technologies to their desired future
state.
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Identifying projects
(Information Systems Planning)
•
A top-down process that takes into account;
– Outside forces (industry),
– Economy,
– Relative size,
– Geographic region, etc.
• Key activities are:
– Describing current situation
– Describing target situation, trends, and
constraints
– Developing a transition strategy and plan
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Identifying projects
(Information Systems Planning)
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Describing current situation:
– Define the current organizational
situation using top-down planning.
– Top-down planning attempts;
• To gain a broad understanding of
informational needs of entire
organization.
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Identifying projects
(Information Systems Planning)
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Describing current situation:
– Top-down planning;
• Begins with analysis of organization’s
mission, objectives, and strategy;
• Continues with determination of
information requirements needed to
meet each objective.
• Requires involvement of top-level
management.
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Identifying projects
(Information Systems Planning)
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Describing target situation, trends, and
constraints:
– Define target situation that reflects
desired future state of organization.
– Vision consists of desired state of;
• Locations,
• Units,
• Functions,
• Processes,
• Data,
• Information systems.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– When creation of current and target
situation is completed,
• A detailed transition strategy and plan
are developed.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Plan should be:
• Very comprehensive,
• Reflecting broad and long-range
issues, and
• Providing sufficient detail to guide all
levels of management concerning;
– What needs to be done,
– How and when it needs to be done,
– Who in organization will be doing.
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Identifying projects
(Information Systems Planning)
•
Developing a transition strategy and plan:
– Outline of an information systems plan:
• Organizational mission, objectives & strategy
• Information inventory
• Mission and objectives of IS
• Constraints on IS development
• Overall systems needs and long-range IS
strategies
• The short-term plan
• Conclusions
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Organizational mission, objectives &
strategy:
• Briefly describes mission, objectives
and strategy of the organization.
• Presents current and future views of
the organization briefly.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Information inventory:
• Provides a summary of various
bussiness process, functions, data
entities, and information needs of
enterprise.
• Will contain both current and future
views.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Mission and objectives of IS:
• Describes primary role of IS in
transformation from current to future
state.
• For example, role may be;
– A necessary cost,
– an investment, or
– a strategic advantage.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Constraints on IS development:
• Briefly describes limitations imposed
by;
– State of the art technology,
– Current level of resources within
the organization (financial,
technological, personnel).
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Overall systems needs and long-range IS
strategies:
• Presents a summary of;
– Overall systems needs within the
organization,
– A set of long-range (2-5 years)
strategies chosen by IS department
to meet the needs.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– The short-term plan:
• Shows;
– A detailed inventory of present
projects and systems,
– A detailed plan of projects to be
developed or advanced during
current year.
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Identifying projects
(Information Systems Planning)
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Developing a transition strategy and plan:
– Conclusions:
• Contains;
– Likely, but not certain events that
may effect the plan,
– An inventory of business change
elements as presently known,
– A description of their estimated
impact on plan.
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A Detailed Look to: Initiation
• Requires the following activities:
– Identifying projects
– Classifying and ranking projects
– Selecting projects
– Establishing project charter
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Classifying and Ranking Projects
•
Focuses on assessing relative merit of
potential projects.
• All projects are feasible given unlimited
resources and time,
– But most projects must be developed
within tight budgendary and time
constraints.
– Therefore, assessing feasibility and value
of projects is essential.
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Classifying and Ranking Projects
•
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Factors:
– Economical
– Technical
– Operational
– Schedule
– Legal and contractual
– Political
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Classifying and Ranking Projects
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Economical Feasibility:
– A comparison of financial benefits and
costs associated with a development
project.
– Often reffered as Cost-Benefit Analysis.
– Impossible to preciesly define costs and
benefits,
– But an estimation is required in order to
compare rival projects.
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Classifying and Ranking Projects
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Economical Feasibility:
– Determine project benefits:
• Tangible benefits
• Intangible benefits
– Determine project costs:
• Tangible costs
• Intangible costs
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Classifying and Ranking Projects
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Economical Feasibility:
– Tangible benefits;
• Can be measured in money and with
certainty.
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Classifying and Ranking Projects
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Economical Feasibility:
– Categories of tangible benefits:
• Cost reduction and avoidance,
• Error reduction,
• Increased flexibility,
• Increased speed of activity,
• Improvement of management,
planning and control,
• Opening new markets and increasing
sales opportunities,
• Others.
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Classifying and Ranking Projects
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Economical Feasibility:
– Intangible benefits;
• Cannot be easily measured in money.
– Some tangible benefits may be intangible
in early stages of a project.
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Classifying and Ranking Projects
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Economical Feasibility:
– Categories of intangible benefits:
• Increased competiveness with other
companies,
• Increased organizational flexibility,
• Increased employee morale,
• Increased organizational learning and
understanding,
• More timely information collection,
• Others.
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Classifying and Ranking Projects
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Economical Feasibility:
– Tangible costs;
• Can be measured in money and with
certainty.
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Classifying and Ranking Projects
•
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Economical Feasibility:
– Categories of tangible costs:
• Hardware costs,
• Software costs,
• Labor costs,
• Operational costs (employee training,
building renovations, etc.)
• Others
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Classifying and Ranking Projects
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Economical Feasibility:
– Intangible costs;
• Cannot be easily measured in money.
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Classifying and Ranking Projects
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Economical Feasibility:
– One-time cost:
• A cost associated with;
– Project start-up and development or
– System start-up.
– Recurring costs:
• A cost resulting from ongoing evolution
and use of a system.
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Classifying and Ranking Projects
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Economical Feasibility:
– Cost-benefit analysis:
• The use of a variety of analysis
techniques for determining financial
feasibility of a project.
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Classifying and Ranking Projects
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Economical Feasibility:
– Cost-benefit analysis:
• Commonly used analysis techniques:
– Net present value (NPV)
– Return on Investment (ROI)
– Break-even analysis (BEA)
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Classifying and Ranking Projects
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Economical Feasibility:
– Cost-benefit analysis:
• Development and useful life of a
system may span several years.
• Therefore, costs and benefits must be
normalized into present day in order to
compare.
• Time value of money (TVM) is used,
– In order to compare present cash
outlays to future expected returns.
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Classifying and Ranking Projects
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Economical Feasibility:
– Cost-benefit analysis:
• The rate at which money can be
borrowed or invested is called;
– The cost of capital, or
– Discount rate.
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Classifying and Ranking Projects
•
Economical Feasibility:
– Cost-benefit analysis:
• Formula to compute present value of
a money that will be available in the
future:
Amount of money
that will be available n years from now
Present value
PVn = Y x
1
(1+i)n
Discount rate in a year
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Number of years required
for money become available
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Classifying and Ranking Projects
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Economical Feasibility:
– Cost-benefit analysis (Example):
• A seller sells a car for 4500 TL;
– By 3 instalments.
» 1500 TL in cash,
» 1500 TL after 1 year,
» 1500 TL after 2 years.
• If seller were able to put money in a
bank,
– Would receive 10 percent return in
a year for his/her investment.
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Classifying and Ranking Projects
•
Economical Feasibility:
– Cost-benefit analysis (Example):
•
1500 TL in cash:
–
•
1
PV2 = 1500 x
(1+0.10)1
= 1363 TL
1500 TL after 2 years.
–
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= 1500 TL
1500 TL after 1 year,
–
•
PV1
1
PV3 = 1500 x
(1+0.10)2
= 1239 TL
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Classifying and Ranking Projects
•
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Economical Feasibility:
– Cost-benefit analysis (Example):
• Seller will actually benefit;
» 4102 TL (Net PV = 1500+1363+1239)
– From 4500 TL sale.
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Classifying and Ranking Projects
•
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Economical Feasibility:
– Cost-benefit analysis (Example):
• Seller will actually benefit;
» 4102 TL (Net PV = 1500+1363+1239)
– From 4500 TL sale.
• Therefore, if buyyer gives equal to or
more than 4102 TL in cash,
– Seller will accept (if he/she knows
enough matematics  ).
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Classifying and Ranking Projects
•
Economical Feasibility:
– Cost-benefit analysis:
• To perform analysis,
– Useful life of project and
– Cost of capital must be determined.
Discount rate = 12%
Benefits
V of Benefits
PV of Benefits
NPV of all Benefits
Costs
One-time Costs
Recurring Costs
PV of Rc.Costs
NPV of Rc.Costs
NPV of all Costs
Overall NPV
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Year 0
Year 1
Year 2
Year 3
Year 4
Year 5
Totals
0 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 250.000 TL
0 TL 44.643 TL 39.860 TL 35.589 TL 31.776 TL 28.371 TL 180.239 TL
0 TL 44.643 TL 84.503 TL 120.092 TL 151.867 TL 180.239 TL 180.239 TL
42.500 TL
0 TL
0 TL
0 TL
42.500 TL
28.500 TL
25.446 TL
25.446 TL
67.946 TL
28.500 TL 28.500 TL 28.500 TL 28.500 TL
22.720 TL 20.286 TL 18.112 TL 16.172 TL
48.166 TL 68.452 TL 86.564 TL 102.736 TL
90.666 TL 110.952 TL 129.064 TL 145.236 TL
-42.500 TL -23.304 TL -6.164 TL
9.139 TL
22.803 TL
35.003 TL
142.500 TL
102.736 TL
102.736 TL
145.236 TL
35.003 TL
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Classifying and Ranking Projects
•
Economical Feasibility:
– Cost-benefit analysis:
• Overall return on investment (ROI):
– A useful value for trade-off analysis
among projects.
Discount rate = 12%
Benefits
V of Benefits
PV of Benefits
NPV of all Benefits
Costs
One-time Costs
Recurring Costs
PV of Rc.Costs
NPV of Rc.Costs
NPV of all Costs
Overall NPV
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Year 0
Year 1
Year 2
Year 3
Year 4
Year 5
Totals
0 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 250.000 TL
0 TL 44.643 TL 39.860 TL 35.589 TL 31.776 TL 28.371 TL 180.239 TL
0 TL 44.643 TL 84.503 TL 120.092 TL 151.867 TL 180.239 TL 180.239 TL
42.500 TL
0 TL
0 TL
0 TL
42.500 TL
28.500 TL
25.446 TL
25.446 TL
67.946 TL
28.500 TL 28.500 TL 28.500 TL 28.500 TL
22.720 TL 20.286 TL 18.112 TL 16.172 TL
48.166 TL 68.452 TL 86.564 TL 102.736 TL
90.666 TL 110.952 TL 129.064 TL 145.236 TL
-42.500 TL -23.304 TL -6.164 TL
9.139 TL
22.803 TL
35.003 TL
142.500 TL
102.736 TL
102.736 TL
145.236 TL
35.003 TL
ROI = 35.003 = 0.24
145.236
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Classifying and Ranking Projects
•
Economical Feasibility:
– Cost-benefit analysis:
• Break-Even Analysis:
– Used to discover at what point
benefits will equal to costs.
Discount rate = 12%
Benefits
V of Benefits
PV of Benefits
NPV of all Benefits
Costs
One-time Costs
Recurring Costs
PV of Rc.Costs
NPV of Rc.Costs
NPV of all Costs
Overall NPV
Year 0
Year 1
Year 2
Year 3
Year 4
Year 5
Totals
0 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 250.000 TL
0 TL 44.643 TL 39.860 TL 35.589 TL 31.776 TL 28.371 TL 180.239 TL
0 TL 44.643 TL 84.503 TL 120.092 TL 151.867 TL 180.239 TL 180.239 TL
42.500 TL
0 TL
0 TL
0 TL
42.500 TL
28.500 TL
25.446 TL
25.446 TL
67.946 TL
28.500 TL 28.500 TL 28.500 TL 28.500 TL
22.720 TL 20.286 TL 18.112 TL 16.172 TL
48.166 TL 68.452 TL 86.564 TL 102.736 TL
90.666 TL 110.952 TL 129.064 TL 145.236 TL
-42.500 TL -23.304 TL -6.164 TL
9.139 TL
22.803 TL
35.003 TL
142.500 TL
102.736 TL
102.736 TL
145.236 TL
35.003 TL
Break-even occurs between year 2 and 3
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Classifying and Ranking Projects
•
Economical Feasibility:
– Cost-benefit analysis:
Break-Even ratio =
Discount rate = 12%
Year 0
Benefits
V of Benefits
PV of Benefits
NPV of all Benefits
Costs
One-time Costs
Recurring Costs
PV of Rc.Costs
NPV of Rc.Costs
NPV of all Costs
Overall NPV
Break-Even ratio =
Yearly NPV Cash Flow – Overall NPV Cash Flow
Yearly NPV Cash Flow
Year 1
Year 3
Year 4
Year 5
Totals
0 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 50.000 TL 250.000 TL
0 TL 44.643 TL 39.860 TL 35.589 TL 31.776 TL 28.371 TL 180.239 TL
0 TL 44.643 TL 84.503 TL 120.092 TL 151.867 TL 180.239 TL 180.239 TL
42.500 TL
0 TL
0 TL
0 TL
42.500 TL
28.500 TL
25.446 TL
25.446 TL
67.946 TL
28.500 TL 28.500 TL 28.500 TL 28.500 TL
22.720 TL 20.286 TL 18.112 TL 16.172 TL
48.166 TL 68.452 TL 86.564 TL 102.736 TL
90.666 TL 110.952 TL 129.064 TL 145.236 TL
-42.500 TL -23.304 TL -6.164 TL
9.139 TL
22.803 TL
35.003 TL
142.500 TL
102.736 TL
102.736 TL
145.236 TL
35.003 TL
15.303 – 9.139
= 0.403
15.303
Project break-even occurs at 2.403 years.
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Year 2
9.139 – (-6.164)
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Classifying and Ranking Projects
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Factors:
– Economical
– Technical
– Operational
– Schedule
– Legal and contractual
– Political
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Classifying and Ranking Projects
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Technical Feasibility:
– An assesment of the developer
organization’s ability to construct a
proposed system.
– Should include understanding of;
• Target hardwares,
• Target softwares,
• Target operating systems,
• Size and complexity of project,
• Experience of groups involved.
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Classifying and Ranking Projects
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Technical Feasibility:
– All projects have risks.
– Risk is not necessarily something to
avoid.
– Organizations typically expect a greater
return on their investments for riskier
projects.
– Important thing is;
• To understand risks and
• To manage them in order to minimize.
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Classifying and Ranking Projects
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Technical Feasibility:
– Primary factors for risk:
• Project size,
• Project structure,
• Developer group’s experience with
application and technology area,
• User group’s experience with systems
development projects and application
areas.
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Classifying and Ranking Projects
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Technical Feasibility:
– Project size:
• Larger projects are harder to manage,
so are more riskier most of the time.
• Size of project is relative to the size
which development group is familiar
with.
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Classifying and Ranking Projects
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Technical Feasibility:
– Project structure:
• A system in which requirements are;
– easily obtained and
– highly structured will be less risky.
• One in which requirements are;
» messy,
» ill-structured, ill-defined, or
» subject to individual judgement
will be more risky.
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Classifying and Ranking Projects
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Technical Feasibility:
– Developer group’s experience with
application and technology area:
• Development of a system employing
commonly used or standard
technology will be less risky.
• Development of one employing novel
and non-standard technology will be
more risky.
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Classifying and Ranking Projects
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Technical Feasibility:
– User group’s experience with systems
development projects and application
areas:
• A project is less risky when user group
is familiar with systems development.
• Successful projects require;
– Active involvement and cooperation
between user and developer
groups.
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Classifying and Ranking Projects
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Technical Feasibility:
– Many organizations look at risk as a
portfolio issue.
– It is acceptable to have reasonable
percentage of;
• High-risk projects,
• Medium-risk projects,
• Low-risk projects.
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Classifying and Ranking Projects
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Other Feasibility Concerns:
– Operational feasibility
– Schedule feasibility
– Legal and contractual feasibility
– Political feasibility
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Classifying and Ranking Projects
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Other Feasibility Concerns:
– Operational feasibility:
• Examining the degree to which a
proposed system will;
– Solve business problems or
– Take advantage of business
opportunities.
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Classifying and Ranking Projects
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Other Feasibility Concerns:
– Schedule feasibility:
• Examining the degree to which;
– Completion dates for all major
activities can be met, and
– Meeting these dates will be
sufficient for dealing with
organization’s needs with respect
to timing.
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Classifying and Ranking Projects
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Other Feasibility Concerns:
– Legal and contractual feasibility:
• Determining any potential legal and
contractual ramifications (results) due
to construction of a system.
• For instance, licence, ownership,
source code, ...
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Classifying and Ranking Projects
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Other Feasibility Concerns:
– Political feasibility:
• Evaluating how key stakeholders
within the organization view the
proposed system.
• An information system will effect
distribution of information (and power)
within the organization,
– Therefore have political results.
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A Detailed Look to: Initiation
• Requires the following activities:
– Identifying projects
– Classifying and ranking projects
– Selecting projects
– Establishing project charter
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Selecting Projects
•
•
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A process of considering both short and
long term projects, and
Selecting those most likely to achieve
business objectives.
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Selecting Projects
•
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Factors for selecting projects:
– List of potential and ongoing projects,
– Existing and available resources,
– Current organizational environment,
– Evaluation criteria,
– Perceived and real needs.
82
Selecting Projects
•
CS-413
Some project evaluation methods:
– Value chain analysis
– Multi-criteria analysis
83
Selecting Projects
•
CS-413
Value chain analysis:
– The process of analyzing an
organization’s activities;
• To determine where value is added to
product and services and their costs,
• So to understand value chain of
organization.
– IS projects providing greatest benefits to
value chain will be given higher priority
over those with fewer benefits.
84
Selecting Projects
•
CS-413
Multi-criteria analysis:
– A project selection method that uses;
• Weighted scoring for a variety of
criteria
– To compare alternative projects or
system features.
85
Selecting Projects
•
Multi-criteria analysis:
– Assummed that there are 3 alternative
designs for a system.
18x5 = 90
Criteria
Weight
Requirements Real-time data entry
Automatic reordering
Real-time data query
Total
18
18
14
50
Constraints
15
15
15
5
50
Total
CS-413
Developer costs
Hardware costs
Operating costs
Ease of training
Total
100
Alternative A
Rating
Score
5
90
1
18
1
14
122
4
4
5
5
60
60
75
25
220
342
Alternative B
Rating
Score
5
90
5
90
5
70
250
5
4
1
3
75
60
15
15
165
415
Alternative C
Rating
Score
5
90
5
90
5
70
250
3
3
5
3
45
45
75
15
180
430
86
A Detailed Look to: Initiation
• Requires the following activities:
– Identifying projects
– Classifying and ranking projects
– Selecting projects
– Establishing project charter
CS-413
87
Establishing Project Charter
•
•
•
CS-413
A short document prepared for customer
during project initiation;
Describes what project will deliver;
Outlines generally at high level all work
required to complete the project.
88
Establishing Project Charter
•
CS-413
Often includes:
– Project title,
– Date of authorization,
– Project manager name & contact information
– Customer name & contact information
– Project start and completion dates
– Key stakeholders, their roles and responsibilities
– Project objectives and description
– Key assumptions and approach
– Signature section for key stakeholders.
89