ISM Chapter 6
Select three objectives that might typically be accomplished during the initiation phase (the first stage) of the project management process.
A projected timeline for deliverables is developed. Stakeholders in the project are identified. A statement of work or other working agreement is created.
When implementing a new business management system, which option provides managers with the greatest degree of control?
On-Premises Option
Wesley has decided to implement a new business management system. What are three advantages of using a Software-as-a-Service (SaaS) solution?
Security concerns are minimized as the SaaS provider undoubtedly has greater resources and expertise in security management than most firms. They are updated by a third-party that has a major financial incentive in ensuring that the software is in compliance with the latest regulations A SaaS solution minimizes initial start-up costs
During the first stage of the project management (PM) process, the manager outlines the requirements of the project, documents these requirements, and analyzes the costs of the project. This is called the
initiation
Today's employees expect to be able to go online and see a record of their compensation and make adjustments such as their tax withholding. Twenty years ago they would have planned to meet with their human resources department representative to make such changes. This is one example of how expectations change as advancements in business
management
Business intelligence (BI) and associated big data analytics has no value if it cannot be interpreted and presented effectively to decision makers. Because of this, one of the most important features of any BI system are its data tools.
visualization
Business management systems need three major components in order to provide the services expected by today's managers. These include:
A decision-making information system A predictive information system A database management system (DBMS)
What is conducted in the process design step of business process management?
Activities are examined and divided into their individual components.
What is conducted in the process modeling step of business process management?
Analysts use flow-charts and other tools to depict workflow.
Select 3 activities that typically fall under the purview of an HR manager.
Dress policies Employment agreements Fraternization policies
Select two reasons why a human resource manager might choose to use recruiting and hiring management software.
Extensive governmental oversight regarding the hiring of employees makes using an updated recruiting and hiring management essential. Human resources managers often need sophisticated software to assist them in making accurate estimates of recruiting, hiring, and training requirements.
Which of the following is a tool commonly used by project managers?
Gantt chart
Select three reasons why managers use customer relationship management systems.
Improve pricing decisions To target profitable customers To customize marketing messaging
What is conducted in the process optimization step of business process management?
Managers adapt (modify) the process to enhance process performance.
Select three objectives that might typically be accomplished during the closure phase (the last stage) of the project management process.
Managers document the lessons they learned during the project's execution. Stakeholders discuss how closely the project met expectations. All associated contracts are ended.
Computer chips double in computing power roughly every 18 months. This phenomenon is called:
Moore's Law
Select 3 common services provided by project management (PM) systems software.
Permissions levels Visual project depictions Document storage
In the fourth step in business process management, managers track the individual components of the process as well as the process as a whole so engine performance can be measured. This is the __ step.
Process Monitoring
Database management system (DBMS) Predictive information system Decision-making information system
Provides a means of storing and finding information Models trends and attempts to predict outcomes Works with a limited number of inputs and unknowns to provide managers with a statistical analysis of likely outcomes
Select three popular inventory management systems.
QuickBooks Enterprise Oracle NetSuite SAP Material Management (SAP MM)
Human resources managers look ahead to determine the future workforce needs of the corporation. Whether the firm uses primarily hourly, salaried, or independent contractors; ensuring that these employees are paid correctly Documenting employee performance and providing an equitable means of ranking performance.
Recruiting and Hiring Software Compensation Management Software Employee Evaluation Software
Select three common features of modern data visualization tools that accompany most business intelligence (BI) systems.
Search capabilities Dashboard presentation Scroll-over features
What is conducted in the process execution step of business process management?
The business process execution language engine is run.
To reduce security risks and to facilitate collaboration among the various stakeholders in the project, most project management (PM) systems are located on the .
cloud
Integrating database management systems (DBMS) with predictive analytics, to give managers a recommended course of action is the focus of ___
decision making management information systems
The first step in business process management examines business activities and breaks them down into their individual components. This is called the process step.
design
During the third stage of the project management (PM) process, the manager constantly monitors the progress of the project and the project's resources. This is called the phase.
execution
The third step in business process management provides managers with real-time (executable) decision making as well as the ability to play the "what-if" game by changing input variables (abstract) decision making. This is called the process step.
execution
Decision management information systems provide managers with tools to assist them in using this data to make better choices.
making
The best way of implementing a new BI system is to make it as seamless as possible by using ___.
software with which the users (typically first line employees, supervisors, and junior management) are already familiar
Decision making management information systems became necessary because ___
the amount of information available far exceeds any manager's ability to take advantage of this increased information.
When selecting an inventory management solution, two reasons managers should opt for a system that integrates easily with existing business management software are ___ and ___.
using a system that employees are used to will probably reduce training time employees will be less anxious if they are somewhat familiar with the system already
As technology improves, the capabilities of, and the demands on, business management systems increase. Select three examples of the impact of advancements in business management systems on the expectations of users.
A lead contractor views the latest changes to a building blueprint online. A sales representative observes customer purchases of 15 client stores in real time. A sales representative observes customer purchases of 15 client stores in real time.
What business management system seeks to streamline an organization's activities to prevent backlogs and inefficiencies?
Business Process Management (BPM)
Which business management system is focused on helping managers to maintain the business's focus on the individual customer by developing a lasting relationship that promote long-term buying?
Customer Relationship Management (CRM) System
Smart managers understand that it is far less expensive to retain an existing customer than it is to acquire a new customer. This is the concept behind the use of which business management systems?
Customer Relationship Management (CRM) Systems
Select three methods businesses use to house a business management system.
Customized, cloud-based solution (PaaS or IaaS) SaaS solution On-premises custom solution
SAP (originally Systems, Applications, & Products) is a recognized leader in the development of HRM software. SAP is headquartered in:
Germany
The most efficient way to implement an effective business intelligence (BI) system is to:
Get buy-in from the users (typically first line employees, supervisors, and junior management).
Sara, an executive with McMurtry Management, has decided that her organization needs to update its business management system. What three questions should she consider prior to choosing a system?
How will the new system interact with existing systems? Is the change worth the expense and impact on employee morale? Where will the new system be housed?
Constructing an office building Renting office space in the building
Is a project requiring the use of project management software Requires management, but is not a project that would use project management software
Jim, an HR director, does not want to change business management systems, even though it brings several advantages and falls within his department budget. What are two reasons why Jim might not want to make the change?
Jim believes changing to the new system will cause a decrease in productivity, at least in the short-term. Jim believes the change will create employee stress as they are required to adapt to a new system.
In the first step in business process management, analysts often "storyboard" the processes in an attempt to view the entire system prior to investigating each component. This is called:
Process Design
Because the number of variables involved in calculating future workforce needs makes this determination highly complex, HR managers often rely on ___
Recruiting and Hiring Software
When implementing a new business management system, which option provides managers with lowest initial start-up expenses.
Software-as-a-Service (SaaS) Option
Business management systems need three major components in order to provide the services expected by today's managers. These include:
custom Cloud-based solution (PaaS or IaaS)
To maximize a sale force's efficiency and effectiveness, managers use relationship management systems.
customer
The fifth and final step in business process management has managers adapting the process to enhance process performance. This is called the process step.
optimization
During the second stage of the project management (PM) process, a Gantt chart is created, or fine-tuned if one was started during the feasibility study. This is called the phase.
planning
Employee compensation software at major corporations is often included as part of its enterprise resource (ERP) software suite.
planning
The project management (PM) process has 4 phases. Place the phases in order with the first phase at the top.
1. initiation 2. planning 3. execution 4. closure
Inappropriate and inconsistent pay can demotivate the strongest workforce, for this reason, many firms use ___.
Compensation management software
Jose's business management system needs to meet very unique needs. He also has a very small IT department. Which business management system should Jose adopt?
Custom cloud-based Solution (PaaS or IaaS)
Select three categories of HR management systems.
Employee benefits administration software Employee evaluation software Compensation management software
When did human resources management (HRM) originate?
HR management has existed at least as long as recorded history.
Select two reasons why senior management should seek buy-in from stakeholders when implementing a new business intelligence (BI) system.
If users find the BI software too cumbersome to use it can lead senior management into making sub-optimal decisions. If users do not understand the process the BI software will unnecessarily waste an organization's resources.
Calculating re-ordering points and order quantity levels are key advantages of modern ___ .
Inventory Management Systems
What occurs during the process monitoring step of business process management?
Managers track the individual components of the process as well as the process as a whole so that the performance of the engine can be measured.
The 3rd step in business process management provides managers the ability to play the "what-if" game by changing input variables (abstract) decision making. This is the ___ step
Process Execution
By identifying potential slowdowns or savings opportunities, the last step of business process management, the ___ step allows managers to create a continually improving process.
Process Optimization
Jira and GanttPro are examples of what kind of software?
Project management (PM) system software
Select three major data analytics software platforms.
Tableau by Salesforce Oracle Analytics Cloud SAP Analytics Cloud
Select three examples of why inventory management is often critical to business success.
The lack of necessary inventory can bring production to a halt or cause lost sales and dissatisfied customers. A grocery store must reduce prices and ultimately dispose of overripe fruit. An electronics retailer must mark down outdated smartphones.
Assisting managers by examining large quantities of data and parsing it into usable information is what makes data software so valuable in today's business world.
analytics
Along with pay, employee remain a critical part of an overall compensation strategy.
benefits
Along with their pay, HR managers often need to track employee hiring dates, marital status, number of dependents, cafeteria choices, and usage, in order to accurately manage their employees' ___ . For this reason, nearly all firms use a management system to ensure this is done correctly.
benefits packages
Because many managers must base decisions on nuanced information, modern ___ software provides not only the probable outcome, but also the degree of likelihood of the outcome.
business intelligence
The use of machinery to assist in employee management began during the late 19th century when time clocks with punch were developed to track employee work hours.
cards
During the fourth stage of the project management (PM) process, the manager documents the lessons learned during the project's execution. This is called the phase.
closure
The last stage of the project management (PM) process, in which managers document the lessons they learned during the project's execution is the ___ phase.
closure
Skyler, an executive, wants to implement a business management system that can be quickly scaled as he anticipates rapidly changing database storage needs. He likes his uniquely developed current system but wants increased security from hackers while decreasing his need for a large IT department. Skyler should choose a ___
custom Cloud-based solution (PaaS or IaaS)
Nearly all BI software platforms have a(n) ___, that displays an overview of the data that is presented.
dashboard presentation
Kronos Workforce Ready, BambooHR, PerformancePro, and others, provide packages designed to meet the employee ___ needs of smaller firms.
evaluation
Many states require significant documentation of substandard performance prior to any employee demotion or dismissal, while an equitable means of ranking performance can serve as a strong motivator. For this reason, many managers use employee software to efficiently meet these needs.
evaluation
The 3rd stage of the project management (PM) process, in which managers constantly monitor the progress of the project and the project's resources. is the ___ phase.
execution
Because some tasks can be done concurrently while other tasks are dependent upon the completion of preceding tasks, Gantt charts are constructed using a __.
horizontal bar chart
During the first stage of the project management (PM) process, the manager outlines the requirements of the project, documents these requirements, and analyzes the costs of the project. This is called the phase.
initiation
Providing estimates of how accurate the re-ordering point and order quantity levels forecast will be (confidence levels), based on historical trends are examples of the efficiencies associated with today's management systems.
inventory
Managers should opt for a system that integrates easily with existing business management software, and that will take the shortest training time for employees that need to provide sale's or usage quantity inputs when choosing an inventory solution.
management
The 2nd stage of the project management (PM) process, which involves meetings with project stakeholders is the ___ phase.
planning
By allowing managers to automate business processes through modeling, analyzing, and improving efficiencies, business management (BPM) systems streamline organizations' activities.
process
The strategic use of employees to allow organizations to operate efficiently and gain competitive advantage is referred to as human management
resource
Hubspot CRM, Zoho CRM, and Freshsales CRM aim to meet the needs of ___ .
smaller businesses
Place the 5 steps of business process management (BPM) in order with the first step at the top.
1. Examining the design of the process 2. Modeling 3. running 4. monitoring 5 Initiating
Select three examples of the impact of advancements in business management systems on the expectations of users.
A manager expects to view changing sales projections from different stores from a computer in her office. Employees expect to make changes to their tax withholding online. Students expect to be able to view a syllabus, from any course, at any time from their phone.
The process of gathering, storing, and searching relevant data is referred to as ___ .
Data science
Emerson has decided to implement a new business management system. What are three advantages of choosing a cloud-based custom option such as a platform as a service (PaaS) or an infrastructure as a service (IaaS) system, over an on-premises option?
Reduces the need for a large IT staff More secure from hackers Storage size can be quickly scaled to meet changing needs
Because sales are such a fundamental element of most businesses, all enterprise resource planning (ERP) systems include an integrated relationship management system.
customer
Salesforce remains one of the largest suppliers of ___ software solutions.
customer relationship management (CRM)
The 3 main components of a business management system include a decision-making information system, a predictive information system, and a ___.
database management system
The software and processes that allow organizations to capitalize on the power of big data and predictive analytics is referred to as business (BI).
intelligence
LeAnn is implementing a new business management system for her firm. She wants to minimize start-up costs and her business's management system needs are similar to many other organizations. LeAnn wisely chooses a Software-as-a- (SaaS) system.
service
Select two technologies that advanced the efficiency of inventory management systems.
Radio Frequency Identification (RFID) Universal Product Codes (UPC)
In the second step in business process management, analysts use flow-charts and other tools to depict the workflow, the sequence of operations, and the decision points. This is called the process step.
modeling
Select the objective that is typically accomplished during the execution phase (the third stage) of the project management process.
Managers monitor the progress of the project and resources.
Which business management system typically begins by collecting customer information such as email, telephone, and social media data, and then combines this with information regarding the customer's buying habits, so that the management team can better anticipate customer desires?
Customer Relationship Management (CRM) System
Jameson, a senior executive, wants significant control of his business management system so that he can implement changes to quickly adapt to the dynamic business environment. The system that would best meet these needs would be a ___ system.
on-premises option
Universal Product Codes (UPC) and Radio Frequency Identification (RFID), combined with database management systems (DBMS), have greatly advanced the performance of management systems.
inventory
