Group Theory

Corporate Strategic Planning

chess pieces on board
  • Describe the steps involved in corporate strategic planning.

In corporate strategic planning, a high-level organizational plan is developed that analyzes the organization’s current state, desired future state, and then creates a method of achieving that desired future state (Fuller, Valacich, George, Scheider, 2019). In corporate strategic planning, the current and future states of the organization can be compiled using mission and objective statements; these typically answer the following questions: what is the simplified purpose of the organization and products/services we offer? Also, what are the most important goals of the organization? By having well-researched and clear objectives for what the organization plans for the future, the path to reach these objectives is quite clear.

  • What are the types, or categories, of benefits from an information systems project? What intangible benefits might an organization obtain from the development of an information systems project?

The two types/categories of benefits derived from an information systems project are tangible and intangible. Intangible benefits, defined as benefits that are somewhat difficult to measure in financial terms, differ from tangible benefits, in that tangible benefits are easily quantified, such as reductions in cost or increasing sales opportunities. Some other tangible benefits gained by an information systems project would be increased flexibility of systems/processes, quicker activity times (time to complete a task), and improved error reduction. For intangible benefits, quicker decision making, additional information, and competitive necessity can all indeed provide significant improvements in many areas of business, yet how they actually impact finances depends on how they are utilized (this makes putting a dollar amount on them difficult).

  • What is contained in a project management plan?

A proper project management plan contains a wide variety of tools to help one successfully and effectively manage a project, including a scope management plan, staffing/human resource management plan, scheduling plan, cost management plan, risk management plan, communication management plan, procurement management plan, and a quality management plan. Furthermore, a project charter is typically created, containing the title and date of project authorization, name and contact information of project managers, stakeholders, and team members, the purpose of the project, goals and objectives, the estimated start and completion date, as well as signatures of all key stakeholders (Fuller, Valacich, George, Scheider, 2019). While it may seem tedious to draft such a sophisticated collection of documents instead of just beginning to get to work on the task at hand, a proper project management plan is necessary for adequate management of time and resources, as well as be able to adapt to change using already determined guidelines.

References

Fuller, M. A., Valacich, J. S., George, J. F., & Schneider, C. (2019). Information Systems Project Management: A Process Approach, Edition 2.0. Prospect Press, Inc.

Categories: Group Theory

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