1. Describe the project life cycle.

The project life cycle consists of the following phases:

1. Initiation: Define project objectives, scope, and
feasibility; secure approval.
2. Planning: Develop a detailed plan for scope,
timeline, budget, and resources.
3. Execution: Implement the plan by coordinating
resources and tasks to produce deliverables.
4. Monitoring & Controlling: Track progress, manage
changes, and ensure the project stays on track.
5. Closure: Finalize the project, complete
deliverables, and document lessons learned.
Each phase ensures a structured approach from start
to finish.
4. Describe the systems development life cycle
(SDLC)
The Systems Development Life Cycle (SDLC) is a
structured process for creating and maintaining
information systems. It consists of the following
phases:
1.Planning: Define project scope, objectives,
and feasibility.
2.Analysis: Gather and document system
requirements.
3.Design: Develop system architecture and
detailed specifications.
 4.Implementation: Code and build the system.
5.Testing: Verify the system meets
requirements and functions correctly.
6.Deployment: Launch the system in a
production environment.
7.Maintenance: Perform ongoing updates,
fixes, and improvements.
SDLC ensures a systematic approach to software
development, leading to efficient, reliable, and
user-centric systems.
5. What are the advantages of having and
following a project methodology?
Following a project methodology offers these key
advantages:
1.Clear structure: Provides an organized
framework for managing tasks.
2.Improved communication: Ensures smooth
information flow and collaboration.
3.Consistency: Promotes standardized
processes, reducing errors.
4.Risk management: Helps identify and mitigate
risks early.
5.Better resource management: Optimizes
time, budget, and manpower.
 6.Increased accountability: Clarifies roles and
responsibilities for team members.
7.Higher success rate: Enhances the likelihood
of achieving project goals on time and within
scope.
6. Describe the five phases of the IT
project methodology
The five phases of the IT project methodology
typically include:
1.Initiation: Define the project scope, goals,
stakeholders, and feasibility. A project charter
is often created.
2.Planning: Develop detailed project plans,
including timelines, resources, budget, risk
management, and communication strategies.
3.Execution: Implement the project plan by
assigning tasks, managing resources, and
monitoring progress to deliverables.
4.Monitoring and Controlling: Track
performance, manage changes, address
issues, and ensure the project stays on track
with scope, time, and budget.
5.Closure: Finalize all activities, deliver the
project, release resources, document lessons
learned, and formally close the project.
15. Describe the five project management
processes
The five project management processes, as
outlined in the Project Management Body of
Knowledge (PMBOK), are:
1.Initiating: Defines the project at a high level,
securing authorization and determining initial
scope and resources.
2.Planning: Establishes detailed plans for scope,
schedule, costs, quality, communication, and
risks to guide execution.
3.Executing: Carries out the project plan by
coordinating resources, managing stakeholder
expectations, and ensuring tasks are
completed.
4.Monitoring and Controlling: Tracks project
progress, ensuring alignment with plans.
Changes and corrective actions are taken as
needed.
5.Closing: Finalizes the project by delivering
completed work, obtaining stakeholder
acceptance, and closing contracts.
These processes guide the lifecycle of a project
from start to finish.
19. What is a project infrastructure?
A project infrastructure is the foundational
framework that supports a project, including
tools, processes, technology, resources,
governance, and organizational structures needed
to manage and deliver the project effectively.
22. What is a business case?
A business case is a document or argument that
outlines the justification for a specific project or
initiative. It includes the benefits, costs, risks, and
potential impact, helping decision-makers
evaluate whether it's worth pursuing.

23. Why should an organization develop a

business case?
An organization should develop a business case
to:
1.Justify Investment: Demonstrate the value
and benefits of a proposed project or
initiative.
2.Guide Decision-Making: Provide a structured
analysis to support strategic choices.
3.Allocate Resources: Ensure efficient use of
time, money, and effort.
4.Mitigate Risks: Identify potential challenges
and develop strategies to address them.
 5.Measure Success: Establish criteria for
evaluating the project's impact and
effectiveness.
24. What is the purpose of selecting a core team
to develop a business case?
Selecting a core team to develop a business case
ensures that the project benefits from a diverse
range of expertise and perspectives. This team is
responsible for conducting research, analyzing
data, and making informed recommendations to
build a strong and credible business case.
25. What is a project's measurable
organizational value?
A project's Measurable Organizational Value
(MOV) is a quantifiable metric that reflects the
project's impact on the organization's strategic
goals. It helps assess how well the project delivers
tangible benefits and value to the organization,
such as increased revenue, cost savings, improved
efficiency, or enhanced customer satisfaction.
26. Develop a MOV for an organization that
is contemn- plating developing a corporate
intranet?
A Measure of Value (MOV) for developing a
corporate intranet might be:
MOV: "Implementing a corporate intranet will
enhance internal communication, streamline
document management, and improve team
collaboration, leading to a projected 25% increase
in operational efficiency and a 15% reduction in
project turnaround time within the first year."
This MOV focuses on key benefits such as
improved communication, document
management, and collaboration, and provides
specific metrics for assessing the success of the
intranet.
28. Describe how a project's MOV can support an
organization's goals and strategies.
A project's Measure of Value (MOV) ensures
alignment with an organization's goals by defining
success criteria that reflect strategic objectives. It
helps justify the project by quantifying expected
benefits, guides performance measurement, and
enables resource allocation to initiatives that offer
the most strategic value.
31. Describe economic feasibility.
Economic feasibility assesses whether a project or
investment is financially viable. It involves
analyzing the costs, benefits, and potential
returns to determine if the project can be
sustained and will generate a positive financial
outcome.
32. Describe technical feasibility.
Technical feasibility refers to the assessment of
whether a project or solution can be successfully
developed and implemented using current
technology and resources. It involves evaluating
whether the technical requirements can be met
within constraints such as time, budget, and
technical expertise.
33. Describe organizational feasibility.
Organizational feasibility refers to the ability of an
organization to implement and sustain a project
or initiative successfully. It evaluates whether the
organization has the necessary resources,
capabilities, and structure to support the project's
requirements. This includes assessing factors like
management expertise, staffing, financial stability,
and operational systems.
34. What other types of feasibility issues should
an organization consider?
When evaluating feasibility, an organization
should consider:
1.Technical Feasibility: Can the technology or
methods required be implemented?
 2.Economic Feasibility: Is the project financially
viable? What are the costs vs. benefits?
3.Legal Feasibility: Are there legal or regulatory
requirements that must be met?
4.Operational Feasibility: Can the
organization’s current operations support the
project?
5.Schedule Feasibility: Can the project be
completed within the desired timeframe?
6.Market Feasibility: Is there a demand or need
for the product or service in the market?
Each of these factors can significantly impact the
success of a project or initiative.
41. Describe the breakeven method. What are
some advantages and disadvantages of this
method?
The breakeven method is a financial analysis tool
used to determine the point at which total
revenues equal total costs, meaning there is no
profit or loss. This point is known as the
breakeven point.
Advantages:
1.Simplicity: It’s easy to understand and
calculate, making it accessible for quick
financial analysis.
 2.Cost Control: Helps identify the fixed and
variable costs and how changes in sales
volume affect profitability.
3.Decision-Making: Assists in setting sales
targets and pricing strategies.
Disadvantages:
1.Assumptions: Assumes constant prices and
costs, which may not reflect real-world
fluctuations.
2.Limited Scope: Focuses only on financial
aspects and may not account for other
business factors like market demand or
competition.
3.Short-Term Focus: Primarily useful for short-
term planning and may not capture long-term
financial dynamics.
42. Describe the ROI method. What are some
advantages and disadvantages of this method?
ROI, or Return on Investment, is a financial metric
used to evaluate the profitability of an
investment. It's calculated by dividing the net
profit of the investment by the initial cost, often
expressed as a percentage.
Advantages:
 Simplicity: Easy to calculate and understand.
  Comparability: Allows comparison between
different investments or projects.
 Performance Measurement: Helps assess the

effectiveness of investment strategies.

Disadvantages:
 Short-Term Focus: May not account for long-

term benefits or costs.

 Ignores Risk: Does not consider the risk

associated with the investment.

 No Context: Lacks context about the scale of

the investment or the economic environment.

In essence, while ROI is useful for quick
evaluations, it may not provide a complete picture
of an investment’s potential.
43. Describe the NPV method What are some
advantages and disadvantages of this method"
The Net Present Value (NPV) method is a financial
analysis tool used to evaluate the profitability of
an investment or project. It calculates the present
value of all expected future cash flows generated
by the project, minus the initial investment cost.
The formula is:
NPV=∑Ct(1+r)t−C0\text{NPV} = \sum \frac{C_t}{(1
+ r)^t} - C_0NPV=∑(1+r)tCt−C0
where:
  Ct = Cash flow at time
 r = Discount rate

 t = Time period

 C0 = Initial investment

Advantages:
1.Considers Time Value of Money: It accounts
for the fact that money received in the future
is worth less than money received today.
2.Direct Measure of Added Value: NPV
provides a dollar amount that indicates how
much value a project is expected to add.
3.Objective Decision-Making: It helps in making
investment decisions based on quantifiable
financial metrics.
Disadvantages:
1.Estimation of Cash Flows: Accurate cash flow
projections can be challenging and highly
uncertain.
2.Choice of Discount Rate: The NPV result is
sensitive to the discount rate used, which can
be subjective.
3.Does Not Account for Non-Financial Factors:
It primarily focuses on financial aspects and
may overlook strategic or qualitative factors.
44 What effect does increasing the discount rate
have on a project's NPV"
Increasing the discount rate lowers a project's
NPV because future cash flows are discounted
more, reducing their present value.
49. Describe the balanced scorecard approach.
The Balanced Scorecard is a strategic
management tool that helps organizations
translate their vision and strategy into a set of
performance measures. It balances four
perspectives:
1.Financial: Measures of financial performance
and how well the organization is doing in
terms of revenue, profitability, and cost
management.
2.Customer: Metrics related to customer
satisfaction, retention, and acquisition,
reflecting how well the organization is
meeting customer needs.
3.Internal Processes: Evaluation of internal
processes and operations, focusing on
efficiency and effectiveness in delivering
value.
4.Learning and Growth: Measures of employee
development, innovation, and organizational
 culture, highlighting how well the
organization is preparing for future growth
and change.
By tracking performance across these four areas,
organizations can get a more comprehensive view
of their overall performance and align their
activities with their strategic goals.
50 Describe the financial perspective of the
balanced Scorecard approach.
The financial perspective of the Balanced
Scorecard approach focuses on measuring an
organization's financial performance and ensuring
that its strategy aligns with financial goals. It
typically involves tracking key financial metrics
such as revenue growth, profitability, and return
on investment (ROI). The idea is to translate
strategic objectives into financial outcomes,
ensuring that the company's long-term vision and
short-term financial performance are aligned.
51. Describe the customer perspective of the
balanced Scorecard approach.
From the customer perspective, the Balanced
Scorecard approach focuses on understanding
and meeting customer needs and expectations. It
involves measuring and improving how well a
company delivers value to its customers, including
aspects like customer satisfaction, retention, and
market share. This perspective ensures that
business strategies are aligned with customer
requirements and that the organization is
effectively responding to their demands.
52. Describe the internal process perspective of
the balanced scorecard approach.
The internal process perspective of the Balanced
Scorecard focuses on optimizing internal business
processes to improve efficiency and effectiveness.
It involves identifying key processes that drive
value and setting objectives to enhance these
processes. This perspective helps organizations
streamline operations, reduce costs, and improve
quality by monitoring and improving core internal
processes. It aims to ensure that the
organization's internal operations are aligned with
its strategic goals and contribute to overall
success.
53. Describe the innovation and learning
perspective of The balanced scorecard approach
The Balanced Scorecard approach emphasizes a
balanced view of organizational performance by
integrating multiple perspectives beyond just
financial metrics. The Innovation and Learning
perspective specifically focuses on the
organization's ability to innovate, improve, and
grow. It addresses factors like employee skills,
organizational culture, and technology, which are
crucial for long-term success and adaptability.
This perspective highlights the importance of
fostering a learning environment and investing in
capabilities to drive future performance and
innovation.
54. How does the concept of MOV support the
balanced scorecard approach?
The concept of Management by Objectives
(MBO) supports the Balanced Scorecard approach
by aligning individual and departmental goals with
the overall strategic objectives of the
organization. Both frameworks focus on setting
clear objectives, tracking performance, and
measuring outcomes across key areas. While MBO
emphasizes goal setting and employee
engagement, the Balanced Scorecard extends this
by providing a broader, balanced view, measuring
performance across four perspectives: financial,
customer, internal processes, and learning and
growth. Together, they ensure that operational
actions are linked to long-term strategic goals.