MIST part 1 exam
What is the "new" way of thinking about customer relationships?
"C's"; Cost, Customer, Convenience, Communication
Components of business model canvas:
-key activities -value proposition -customer relationships -customer segments -revenue streams -channels -key resources -cost structure -key partners
5 areas for technology-based transformation?
1) customer experience 2) process effectiveness 3) business integration 4) data and information 5) new products & services
IOT concerns
1. Data privacy 2. Data security 3. Data reliability
Digital Data
1. perfect transmission 2. Replication without degradation 3. Marginal cost --> zero
Sales --> Warehouse --> Accounting
3 isolated systems = delays
Old customer relationships
4 P's: product, price, place, promotion
Customer Relationship Management (CRM) system is:
A system that helps us use information to increase revenue and profitability through better marketing campaign effectiveness, improved customer-facing processes, and improved sales and customer service
Which of the following is true about project management?
As with other professions, project managers are supported by professional organization (called the PMI)
A process model that illustrates the current state of a business process is known as the __________ model.
As-is
Which of the following is a TRUE statement about the shift from "old" ways of marketing to the "new" that are digitally and socially enabled?
Because of user-generated content, companies have less control of the message about their product
Which of the following models or documents would be useful in the conceptualization and initialization phase of a project?
Business model
According to our class discussion of business processes, which of the following is emerging as the standard for modeling business processes?
Business process modeling notation (BPMN)
BPMN
Circle = event Rectangle = task Arrow = flow
What are the 3 fundamental elements of a data model?
Entities, attributes, relationships
Which of the following types of user-interface design wireframes shows how each page is structured and includes information about each button, field, and piece of content?
Functional wireframe
Traditionally, accounting was performed through paper-based and spreadsheet ledgers. Data across these ledgers needed to be manually reconciled and this was time-consuming, prone to error, and required that people wait for their data. Now with business systems such as ERP (enterprise resource planning) systems, accounting data is:
Integrated and available "real-time" across an organization
IOT
Internet of Things
Quality
MOV & client satisfaction
Who published pimbok?
PMI (project management institute)
What are 4 components of information system?
People, process, technology, data
The system development life cycle (SDLC) method for leading IT-enabled change to work systems would typically take place in which stage of the project?
Project execution and control
Which of the following is NOT a type of model that IS professional would typically work with to understand and improve systems?
Promotional model
Which of the following are NOT commonly cited benefits of cloud computing?
Reciprocity
On the Business Model Canvas, which component describes the cash a company generates for each customer segment?
Revenue Stream
Which of the following is a problem where the scope of a project increases dramatically at some point in the projecT?
Scope leap
SMAC
Social, mobile, analytics, cloud
What are the triple constraints of project management?
Time, Resources, Scope
Big data
Volume Variety Velocity
Pivot
a "shift" from your original direction based on information found in the market/reaction to product
Customer segment
a group of customers with common needs, common behaviors, or other attributes
Traditional marketing techniques often involved targeting customers you wanted to reach by advertising in the magazines they read and TV shows they watch. Although these are certainly still commonplace, there are a variety of new tactics associated with the internet and the digital age. Which of the following concepts is NOT associated with new digital marketing tactics?
a) Extreme Personalization b) Interactive media c) social media d) ecosystem of media e) all of the above are associated with new digital marketing tactics E
Which of the following is a true statement about the business model canvas?
a) customer groups represent a distinct segment if we give them a distinct offer or we serve them through different channels b) the channel component describes how we will deliver or reach our customers with the value proposition c) the right side of the canvas is generally related to revenue generation, while the left side of the canvas is generally related to costs d) All of the above are true e) All of the above are false E
Milestones
accomplishments
Scope grope
can't define scope
attributes
categories of description for an entity
CAPM
certified associate in project management
business intelligence
computer-based techniques used in identifying, extracting, and analyzing business data for decision making
data model
conceptual representation of data structures
Joseph Schumter
creative destruction; economic progress in one area means turmoil for another industry or company
Cost structure
describes all costs incurred to operate a business model
A work breakdown structure (WBS) is a:
description of tasks, numbered and arranged in layers of detail
data mining
discovering new patterns from large data sets
scope leap
drastic change to project scope
Bait & Hook
give something free to lock in revenue Ex: razors and razorblades / printer & toner
Freemium
gives something free to most customers to get a subset of the customers using premium ex: Spotify
Brainstorming problems
group-think, social loafing, too much piggybacking stifles new streams of ideas
Pools
independent organizational entities
Big data comes from sensors that are:
instrumented, interconnected, and intelligent
Early IT architecture
mainframe as host; large computers
MOV
measurable organizational value
SDLC
middle phase
MVP
minimum viable product; a prototype or pilot of an idea to be tested in the marketplace
Scope creep
most common; adding features in later that are not part of original scope
Client-server architecture
network of desktop computers
Internet of Things
network of physical objects of things that are embedded with electronics, sensors, software, and network connectivity
Cloud-architecture
no server, rent time on cloud
Crow's notation
one-mandatory many-mandatory one-optional many-optional
What are web services?
programmable pieces of code
Pimbok
project management body of knowledge
Entity
recognizable objects that you need to store data about
Deliverables
tangible work products
Value proposition
the benefit or bundle of benefits that a company offers customers
Key resources
the most important assets required to make a business model work
IOT does what:
these objects connect and exchange data with each other
primary key
type of attribute that uniquely identifies
Silo effect
workers complete tasks without regard to consequences for other components of process/need communication and collaboration
Which of the following would be considered a project?
a) a nurse checking on a patient in the hospital's emergency center b) a Ford F150 truck moving through the assembly line in Kansas city c) The development of the next version of Google Chrome's web browser d) All e) None C
Which of the following is NOT true about use cases?
a) a use case lists the steps that an actor using a system takes to reach a goal b) each use case can have no more than one type of actor c) each use case can have multiple alternative outcomes d) each use case can have only one goal e) All of the above are true E
Two-sided market
require network effects; neither group benefits unless both groups are involved
Lones
resource classes in the same organizational space & sharing common systems ex: sales department/marketing department
Advantages of ERP
single point of data capture real-time information everywhere
Attacker's advantage
smaller competitor sees flaw in big existing company and offers direct alternative
Lack of visibility across the process
solution: ERP
Which of the following is the best definition of "project management"?
the application of knowledge, skills, tools, and techniques to project activities to meet project requirements