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    Additional Example: - Saving Money Is: Roi or Payback Period? (Newleaf, 2012)

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    Additional Example: - Saving Money Is: Roi or Payback Period? (Newleaf, 2012)

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    Izza Wrap
    32 views4 pages

    Original Title

    IT 10

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    Additional Example: - Saving Money Is: Roi or Payback Period? (Newleaf, 2012)

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    of 4

    proposed projects is more beneficial for the company.

    Additional Example: ROI or Payback Period? (NewLeaf, 2012). Saving money is


    great, but if
    you are not careful, it can be pretty easy to “go broke saving money.” Payback on an
    investment
    is the amount of time it takes for you to save the amount of money you initially
    invested. Return
    on Investment (ROI) is basically a ratio that tells you how profitable or beneficial an
    investment
    is for you.
    You may check the video to guide you on how to compute the return on investment
    and
    payback period of a project to make sustainability investment decisions.: Lesson 04
    Video 02
    How To Calculate The Return on Investment (ROI) of Real Estate & Stocks.mp4
    Steps in Preliminary Investigation
    1.
    Understand the Problem or Opportunity
    ❏
    Determine which departments, users, and business processes are involved.
    ❏
    System requests in general do not reveal the underlying problem, but only
    symptoms.
    ❏
    A popular technique for investigating causes and effects is called a Fishbone
    diagram.
    You can watch a discussion about Fishbone diagram from: Lesson 04 Video 03
    Fishbone
    Diagram Explained with Example.mp4
    Fishbone Diagram
    A popular technique for investigating causes and effects is called a Ishikawa
    Diagram.
    It is an analysis tool that represents the possible causes of a problem as a graphical
    outline.
    When using a fishbone diagram, an analyst first states the problem and draws a main
    bone
    with sub-bones that represent possible causes of the problem. An example of a
    fishbone
    diagram is shown below.
    Example of Fishbone Diagram
    a.
    Before starting a fishbone diagram as part of any problem solving, the problem
    statement
    must be well defined.
    Problem Statement: Customer orders for custom mountain bikes are delivered 4 weeks
    later than regular mountain bikes.
    b.
    Once the problem statement has been defined, production, warehouse and supply
    chain
    data relating to the product in question may be collected in this case to better identify
    31
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    transmitting in any form or by any
    means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written
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    possible causes. This will make the process of checking the possible causes and
    theories
    a lot easier.
    c.
    The next step is to draw the fishbone diagram including the possible cause and the
    four
    standard problem sources. The four possible sources are:
    ❏
    Machinery and Equipment
    ❏
    Materials
    ❏
    Methods
    ❏
    People
    d.
    For each problem source, the user must brainstorm and think of possible causes and
    hypotheses related to that source. The production and supply chain data collected in
    step
    2 can be very helpful in this step.
    e.
    For each of the causes identified, the same thought process is repeated as in step 4
    to try
    and identify the root cause of each cause. This process is similar to the 5 whys
    approach
    of problem solving.32
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    transmitting in any form or by any
    means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written
    permission of SLU, is strictly prohibited.
    f.
    Each possible root cause or hypothesis is checked for validity with support from
    production, warehouse, and other data collected along the supply chain to verify its
    validity
    or rule the possible cause are credible one. Once this process has been completed a
    handful of possible causes will be proved valid. These should provide a focus area to
    address in order to eliminate the problem, issue, or seize the opportunity named in
    the
    problem statement.
    2.
    Define the Project Scope and Constraints
    ❏
    Determine the project scope means defining the specific boundaries of the project
    ❏
    Define project scope by creating a list with sections called must do, should do,
    could do, and won’t do
    ❏
    Scope is the extent of what a project will produce (product scope) and the work
    needed to produce it (project scope). A Guide to the Project Management Body of
    Knowledge (PMBOK® Guide)—Fourth edition mentions it is the sum of the
    products, services, and results produced in a project (Project Management
    Institute, 2008, p. 440).
    ❏
    Beware of scope creep. The PMBOK® Guide describes scope creep as “adding
    features and functionality (project scope) without addressing the effects on time,
    costs, and resources, or without customer approval” (PMI, 2008, p 440).
    ❏
    A constraint is a requirement or condition that the system must satisfy or an
    outcome that the system must achieved
    ❏
    System constraints also define project scope
    ❏
    when examining constraints, analyst should identify their characteristics:
    ❏
    Present versus future
    ❏
    Internal versus External
    ❏
    Mandatory versus Desirable
    ❏
    Regardless of the type, all constraints should be identified as early as
    possible to avoid future problems and surprises. 33
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    transmitting in any form or by any
    means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written
    permission of SLU, is strictly prohibited.
    3.
    Perform Fact-Finding
    a.
    Analyze company’s processes and operations
    b.
    Conduct Interviews
    b.1 Determine the people to interview
    b.2 Establish objectives for the interview
    b.3 Develop interview questions
    b.4 Prepare for the interview
    b.5 Conduct the interview
    b.6 Document the interview
    b.7 Evaluate the interview
    c.
    Review documentation
    d.
    Observe
    e.
    Survey
    4.
    Evaluate Feasibility
    Feasibility is evaluated from developer and customer's point of view. Developers
    see whether they have the required technology or manpower to build the new
    system.
    Is building the new system really going to benefit the customer.
    ❏
    Does the customer have the required money to build that type of a system?
    ❏
    All these issues are covered in the feasibility study of the system.
    The feasibility of the system is evaluated on the four main issues: technical,
    economical, and operational. Another issue in this regard is the legal feasibility of the
    project.
    ❏
    Schedule feasibility
    ❏
    Technical feasibility
    ❏
    Economic feasibility
    ❏
    Operational feasibility
    ❏
    Legal feasibility. It che

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