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MIS 475: Study Guide for final Exam

by: Winn

MIS 475: Study Guide for final Exam MIS 475

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Final Exam
Managing and Using Information System
Study Guide
#project management
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This 9 page Study Guide was uploaded by Winn on Friday April 29, 2016. The Study Guide belongs to MIS 475 at Marshall University taught by in Spring 2016. Since its upload, it has received 37 views.

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Date Created: 04/29/16
MIS 475 : Study Guide for Final Exam Explaining Important More Important Chapter 7 – The Business of IT Business-IT Maturity Model: Business-IT Maturity Model framework is a useful tool for understanding the differences in capabilities. IT Portfolio Management IT portfolio management: refers to “evaluating new and existing applications collectively ongoing basis to determine which applications provide value to the business in order to support decisions to replace, retire or further invest in applications across the enterprise”. -Is for the company to fund and invest in the most valuable initiatives that, taken together as, a whole, generate maximum benefits to the business. -4 assets classes of IT investments: transactional systems (lv1 business maturity model) , infrastructure systems (lv2) , informational systems , strategic systems ( lv 3) -Helps prioritize IT investments across multiple decision criteria, including value to the business, urgency, and financial return. -A company with agility focus would be more likely to invest a higher percent of their IT portfolio in infrastructure (51% on average), and less in transactional systems (24% on average) Balanced scorecard and IT dashboards Balanced scorecard: focuses attention on the organization’s value drivers (which include, but are not limited to, financial performance). -Assess the full impact of their corporate strategies on their customers and workforce, as well as their financial performance. -Four perspective: customer, internal business, innovation/learning, and financial. + how do customers see us? (customer perspective) + at what must we excel? (internal business perspective) + can we continue to improve and create value? (innovation and learning perspective) + how do we look to shareholders? (financial perspective) -Three business value drivers: reliability, finance and winning culture. -Three metrics to measure their performance along this dimension: + % of projects completed on time and budget. + % of projects released to customer by agreed-on delivery date. + client satisfaction recorded on customer surveys done at the end of a project. -Helps senior IT managers understand their organization’s performance and measure it in a way that supports its business strategy. IT Dashboards: provides a snapshot of metrics at any given point in time. -Dashboards: provide updated information on areas of interest within the IT department. -Uses four dashboard criteria: (1) performance to budget, (2) performance to schedule, (3) delivery of business results, (4) risk. -Portfolio dashboards: show senior IT leaders the status, problems, milestone, progress, expenses and other metrics related to specific projects. -Business-IT dashboards: show relevant business metrics and link them to the IT systems that support them. -A service dashboard: is geared towards the internal IS department. -Improvement dashboard: monitors the three to five key improvement goals for the IT group. -Dashboards: are built on the info contained in the other applications, databases, and analytical systems of the organization. Chapter 8 – Governance of the Information Systems Organization IT Governance, COBIT IT Governance: “specifying the decision rights and accountability framework to encourage desirable behavior in using IT”. 1) The assignment of decision-making authority and responsibility. 2) The decision-making mechanisms (steering committees, review boards, policies) Level 1: Mismatches result in either an oversupply of IT resources or the inability of IT to meet business demand. COBIT ( Control Objectives for Information and Related Technology ) : an IT governance framework that is consistent with COSO controls. It is a governance tool that focuses on making sure that IT provides the systematic rigor needed for the strong internal controls and Sarbanes-Oxley compliance. -Provides a framework for linking IT processes, IT resources and IT information to a company’s strategies and objectives. -One advantage is it is well-suited to organizations focused on risk management and mitigation. Business continuity plan : is an approved set of preparations and sufficient procedures for responding to a variety of disaster events. Five major categories of IT decisions: Information Security Strategy ( Business monarchy ) Information Security Policies ( IT duopoly ) Information Security Infrastructure ( IT monarchy ) Information Security Education/ Training/ Awareness : ( IT duopoly ) Information Security Investments : ( IT duopoly ) Chapter 9 – Information Systems Sourcing Sourcing decision cycle framework: -“buy” option is selected and the company outsources, the client company must decide on “ how” and “where”. Insourcing : or the situation in which a firm provides IS services or develops IS in its own in-house IS organization. Outsourcing : the purchase of a good or service that was previously provided internally or that could be provided internally. -The primary idea of outsource is reducing costs. -3 factors: cheaper costs due to economies of scale, ability to handle peaks in processing, and the client company’s need to consolidate data centers. -Full outsourcing : implies that an enterprise outsources all its IS functions from desktop services to software development. -Selective outsourcing : an enterprise chooses which IT capabilities to retain in house and which to give to an outsider. Backsourcing Backsourcing is a business practice in which a company takes back in-house assets, activities , and skills that are part of its information systems operations and were previously outsourced to one or more outside IS providers. Biggest backsourcing is JP Morgan Chase had signed with IBM for a whopping $5 billion dollars. Chapter 10 – Managing IT Projects What is project management? Is the “application of knowledge, skills, tools, and techniques to project activities in order to meet project requirements”. -Continual trade-offs, and it is the manager’s job to manage them. -2 key players : the sponsor and the manager. -Sponsor is the project champion and works with the project manager in providing the leadership to accomplish project objectives. -The project manager is central to the project. Skills : 1) Identifying requirements of the systems to be delivered. 2) Provide organizational integration by defining the team’s structure. 3) Assign team members to work on the project 4) Managing risks and leveraging opportunities 5) Measuring the project’s status, outcomes and exception to provide project control 6) Making the project visible to general management and other stakeholders. 7) Measuring project status against plan, often using project management software 8) Taking corrective action when necessary to get the project back on track 9) Project leadership. IT Project development methodologies and approaches Systems development life cycle ( SDLC) is a traditional tool for developing IS or for implementing software developed by an outsourcing provider or software developer. SDLC generally is used in one of two distinct ways. SDLC is the general project plan of all the activities that must take place for the entire system to be put into operation, including the analysis and feasibility study, the development or acquisition of components , the implementation activities, the maintenance activities, and the retirement activities. Agile development ( page 306 – 307 ) Prototyping : a type of evolutionary development, the method of building systems where developers get the general idea of what is needed by the users, and then build a fast, high-level version of the system at the beginning of the project. Chapter 11 – Knowledge Management, Business Intelligence, and Analytics Know the terms – knowledge management, business intelligence, business analytics, tacit and explicit knowledge, data warehouse, datamining, intellectual property Knowledge management : includes the processes necessary to generate, capture, codify and transfer knowledge across the organization to achieve competitive advantage. Business intelligence : the term used to describe the set of technologies and processes that use data to understand and analyze business performance. Business analytics is the term used to refer to the use of quantitative and predictive models and fact-based management to drive decisions. Intellectual property allows individuals to own their creativity and innovation in the same way that they can own physical property. Tacit knowledge : personal, contact-specific, and hard to formalize and communicate. ( experiences, beliefs and skills ). Explicit knowledge : knowledge that can be easily collected, organized, and transferred through digital means, such as a memorandum or financial report. Data mining : which is the process of analyzing data warehouses for “gems” that can be used in management decision making. It refers to the process of combing through massive amounts of customer data to understand buying habits and to identify new products, features, and enhancements. Data warehouses or collections of data designed to support management decision making, sometimes serve as repositories of organizational knowledge. Chapter 12 - Using Information Ethically Three normative theories Stockholder theory : stockholders advance capital to corporate managers, who act as agents in furthering their ends. The nature of this contract binds managers to act in the interest of the shareholders. Stakeholder theory: holds that mangers, although bound by their relation to stockholders, are entrusted also with a responsibility , fiduciary or other otherwise, to all those who hold a stake in or claim on the firm. Social contract theory : places social responsibilities on corporate managers to consider the needs of a society. ( social welfare and justice ). PAPA: Privacy, accuracy, property, and accessibility Privacy : has long been considered “the right to be left alone”. It is “fundamentally about protections from intrusion and information gathering by others” -A simple “cookie” : a text message given to a Web browser by a Web server, has been ruled to be legal by the U.S courts. Accuracy : or the correctness, of information assumes real importance for society as computers come to dominate in corporate record-keeping activities. Property ( who owns the data) Accessibility : or the ability to obtain the data, becomes increasing important. Short answer questions – write one or two paragraphs (no bullet points) 1. What advantages a CIO bring to a business? What might be the disadvantages of having a CIO? Advantages: _ CIO has influence on so many different aspects of the company’s operations, she can make very informed decisions about the way information is handled and processed. _ CIO can push and reinforce the company’s overall strategy, enabling it in a way that other central officers may not be able to because technology and information is a seminal part of the function of every department Disadvantages: _ If CIO is well-acquainted with the divisions, he would not able to make an informed decisions. ( problems with decentralizing company’s operations ). _ If the CIO isn’t up to the challenge or is too focused on one element of the job, like IT, to the exclusion of the other elements of the position, dropping the ball in at least one area is terribly likely 2. Describe the Business-IT Maturity Model. How would you use it in your organization when you get hired? Business-IT Maturity Model framework is a useful tool for understanding the differences in capabilities. Level 1: where the business demand for IT is primarily all about cost savings and foundation systems.  Understand the structure of the purpose of saving costs and information system, our mission is to achieve the target in how to maximize the profit and reduce the cost by improving the productivity of the whole system. Level 2: where the focus might be on creating effective business processes.  With a small company, it will need to develop the network to gain trust from the customers. Level 3: the business leaders think about IT’s role in rapid reconfiguration of the business.  With the future of the company, the IT development is the number-one priority to be considered in the long-term. 3. Explain the value steering committees offer the IT organization. - Steering committees: a) Provides strategic direction and funding authority for major IT projects b) Ensures that adequate resources be allocated to the IS organization for achieving strategic goals. c) Lower-level steering committee provide a forum for business leaders to present their IT needs and to offer input and direction about the support they receive from IT operations. 4. Define federalism as it pertains to organizational structures. How does it improve on the centralized model? Federalism is a structuring approach that distributes power, hardware, software, data and personnel between a central IS group and IS in business units. As we know, the centralized model is bringing together all staff, hardware, software , data and processing into a single location. So federalism will make the system to work closely and keep up on track and it will help the transaction between each units go smoothly. 5. Explain how an IS outsourcing provider is able to derive savings that companies themselves cannot realize. - They can save money because : + they have much tighter control of fringe benefits and run much leaner overhead structures. + have better control over software licenses because they often are more informed negotiators. + can employ more effective bulk purchasing and leasing arrangements for all hardware and software. 6. How can an organization benefit from outsourcing an IS capability for which it internally has no skills or experience? - The organization can start with the basic one and improve the infrastructure in the way that they want because with the complexity in the information system , it will be very difficult for the organization to make any changes or improvements. - With no skills or experience , the organization can easily find the problems and solve them more efficiently than the complex one. 7. List some strategies a manager should consider when trying to manage a project’s technical complexity. - Leveraging the Technical Skills of the team. - Replying on Consultants and vendors. - Integrating within the organization. - Managing clarity aspects of project risk. - Managing project stakeholders. 8. What is the difference between tacit and explicit knowledge? From your own experience, describe an example of each. How might an organization manage tacit knowledge? Tacit Knowledge Explicit Knowledge Knowing how to identify the key issues Procedures listed in a manual Books and articles necessary to solve a problem. News reports and financial statements. Applying similar experiences from past Information left over from past projects. situations Estimating work required based on intuition and experience  Tacit knowledge: to find the relation between physical laws and physiological states, to sell medical products.  Explicit knowledge: to build a set-up, to establish a medical protocol.  A common strategy is to extract and record what people know. 9. Why is it so difficult to protect intellectual property? Do you think that the Digital Millennium Copyright Act is the type of legislation that should be enacted to protect intellectual property? - The reason why it is difficult to protect intellectual property: + Because it will cost a lot of money and efforts to make it happen. + Following very strict rules to keep the property in private. - Yes. Because it strengthened the legal protection of intellectual property rights in the wake of emerging new information communication technologies (ex: Internet…) - It criminalizes production and dissemination of technology, devices, or services intended to circumvent measures that control access to copyrighted works. - It criminalizes the act of circumventing an access control, whether or not there is actual infringement of copyright itself. 10. Should there be a global Internet privacy policy? What could be the potential problems? Yes, there should be a global Internet privacy policy. It helps the business to narrow the gap between each countries and still protect their products from other companies stealing information. Moreover, it needs to be agreed from countries all over the world and it is so difficult because sometimes they don’t want their information to be published. Potential problems: Even if the global Internet privacy policy is implemented, the information is still a considerable factor that needs to protect in the high level of security because information will be spread out very fast. With the developing countries, when the technology is not developed enough to follow the trends of the world, that will lead to the unbalance protection’s scale.


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