HINF 351- Chapter 1: Introduction to Information Technology Investment Decision-Making QUESTIONS WITH ALREADY PASSED ANSWERS 2023/2024

HINF 351- Chapter 1: Introduction to Information Technology Investment Decision-Making QUESTIONS WITH ALREADY PASSED ANSWERS 2023/2024 Describe the Productivity Paradox and explain how it relates to procurement. - correct answer The absence of a positive relationship between spending on information technology (IT) and it resulting contribution to productivity or profitability. There needs to be a way to show this relationship to justify the investment! What are examples of types of IT investment decision-making problems? - correct answer What are the most appropriate quantitative methods and techniques for the evaluation of IT? What quantitative and qualitative measures can be used in the assessment and evaluate IT investments? How can we objectively render an IT decision when we use highly complex, multiple and conflicting criteria? How do we choose the best alternative from a set of alternative IT projects? How can we justify our IT decisions? Define IT Investment - correct answer the investment decisions of allocating all types (i.e., human, monetary, physical) of resources to an Management Information System What are the box layers of Management Information Systems? (From inside to outside) - correct answer Hardware -- System Software -- Application Software -- Personnel Why study IT investment methodologies and decision making? - correct answer Means of achieving competitive advantage - translate to healthcare? Poor investments can be a competitive disadvantage Avoid physical risks-Equipment Avoid managerial risks-Goals What are the layers of the hierarchial planning process? Bottom to top - correct answer Operational planning: is performed by first line -level managers, including project managers and MIS supervisors