7) Briefly describe the strategic planning process; including the SWOT analysis. Which method do you think businesses use most when identifying IT project? Why?

 

Strategic planning process; including the SWOT analysis strategic planning process
Assists organizations in assessing its strengths in the pursuit of new business opportunities in the marketplace. An organization can better assess its strengths and opportunities by performing a SWOT analysis (Internal Strength and Weaknesses to External Opportunities and Threats). An organization could have a strength but at the same time, multiple large competitor may already be present in that sector. Or an organization might find that they have a weakness, but if strengthened could provide opportunities since there are few competitors. 
 
Strategic Planning Process – Assists organizations in assessing its strengths in the pursuit of new business opportunities in the marketplace. An organization can better assess its strengths and opportunities by performing a SWOT analysis (Internal Strength and Weaknesses to External Opportunities and Threats). An organization could have a strength but at the same time, multiple large competitor may already be present in that sector. Or an organization might find that they have a weakness, but if strengthened could provide opportunities since there are few competitors.

Method – I feel that a Weighted Scoring Model would be used most by organizations, as each organization values criteria differently. The Weighted Scoring Model can use many tools such as specifying a certain level of Return on investment (ROI), Payback Analysis, or Net Present Value Analysis, then give those settings a value. Organizational objectives and levels of support can be selected, along with setting scope, time and cost goals. The total for all the criteria must total to 100%. The organization can highlight the criteria that best represent the culture and direction of the organization and then select among the projects.

 

image - http://argowiki.com/images/2/26/SWOT_analysis_example.png

8) Who are the key stakeholders in a project? How can stakeholder help the success of a project?

Internal Stakeholders:

• Top Management or “Project Champion” – resources will be required for the project and there is constants competition for limited resources.  Top management should provide mentorship and leadership to the project and project manager to achieve a successful project. Sometimes project encounter additional costs, such as hardware or software costs exceeded initial estimates, or new technologies impacting the project plan.

• Project Sponsor – Direction and funding for project.

• Project Manager – Meet with all stakeholders needed to accomplish the project and its requirements.

• Project Team – Work on developing the plan, implementing, and resolving issues that arise, through project completion or till projected is killed.

• Support Staff – Individuals that might be needed for expertise – Executive assistant, HR, IT, Legal, etc.

External Stakeholders:

• Project’s Customers – such as students having to pay for a tablet. 

• Competitors – Services and products of competitors that could close a business if customers do not see the value.

• Supplier – Contracts for services and hardware.

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http://www.pacsoftllc.com/images/services/PacSoft-project-management-2.jpg