Quiz 15: Monitoring and Auditing Ais
Effective information technology planning supports the overall strategy of the firm. The plan should include the modern technology to support the business strategy. This plan should provide the summary of required resources and predicted outcomes that will be comes out when information technology is acquired. The firm can adopt followed 10 core principles for effective information technology planning: (1) Alignment: The first stage of project is planning phase. The firm should make sure this phase is aligned in right way with support of business strategy. (2) Scope: Scope of the planning phase is to provide the effective ways for understand the requirements of business. (3) Timeframe: The planning should fulfill the short term and long term outputs within the expected time. Timeframe indicates the consumed time for the information technology. (4) Achievability: The planning phase has to determine the firm's capacity and capability to provide outcomes within the expected timeframe. (5) Performance: The planning phase has to compute the performance of the project and share the performance with the internal and external users. (6) Reassessment: The plan should be reassessed with in particular time for ensuring that planning is relevant with requirements of not. (7) Outcomes realization: Cost of project should be provided the tangible and intangible outcomes to be realized. The cost of implementation should be less than the realized outcomes. (8) Awareness: The planning, business strategy and outcomes should be disclosed with internal and external users of the information technology. (9) Accountability: Accountability refers to the responsibility of actions and discloses the unbiased outcomes from the plan in corrective manner. The implementation of plan should be easily understandable and clear. (10) Commitment: Firm has to make commitment that the plan implementation is in right manner and have some support for this commitment. Each and every of above mentioned principles is important for effective information technology system planning. For fulfill the expected results, top five important principles can be explained as below: Alignment of the planning phase is the most important principle for the implementation of technology. Every firm has to align the business strategy and inputs are in the right way. Scope provides the way for implementation of planning phase and it helps in the understanding of business needs. Scope provides opportunity and possibility of the planning. Time is the most important constraint for the firm. Timeframe displays the current progress or outcomes of the project. Firm has to complete the planning within the specific tine period. Achievability determines the firm's capability and capabilities. It also discloses the outcomes from implementation. The firm has to compute the current performance and share the information with the firm's stakeholders and other external users.
The systems development life cycle refers to the generating the information system to fulfill the requirements of the users. SDLC includes five phases: Planning, analysis, pattern, enactment and maintenance. a) Analysis phase: The analysis phase of system development life cycle contains the whole analysis of the information system requirements of the final user. This phase includes the analysis of current progress and projected result. Thus, option (a) is incorrect. b) Planning phase: This phase starts with the requirements of business for a new information system. This phase includes state the problems, establish the objectives and looking for another solutions. This phase also includes the feasibility analysis that the project will perform good or not. Thus option (b) is correct. c) Design phase: This phase includes those expected features that it skipped under the analysis phase of SDLC. This phase may be referred as the operating the blueprint, process, and bar charts and other supportive documents. Thus, option (c) is incorrect. (d) Implementation phase: This phase includes improvement, checking the final progress and implement of the new introduced system. This phase removes bugs and errors of the system. Thus, option (d) is incorrect. Hence, the correct option is .
Economic feasibility refers to the analysis of data for determine the cost of the project will profitable or not. Company uses the economic feasibility for the determination of profit. Economic feasibility calculates the incomes from resources that would be expected from the project. Project has both tangible and intangible benefits. Tangible benefits can be recorded as in dollars but intangible benefits cannot be recorded in dollars. In aspect of economic feasibility intangible benefits include employee morale, reduction in waste, quality of data and information, quantity of data and information and improvement in decision making. Hence, the intangible benefits cannot be included in the financial statement. It just enhances the quality and quantity of the project but it has same importance same as tangible benefits.