Prioritizing it Projects
In business, new initiatives allow organizations to continually improve their operations, their products, and the various methods by which they hope to achieve and maintain the most competitive possible market position. In general, all new proposed initiatives are subject to a prospective evaluation to determine whether they are capable of achieving their intended objectives and to quantify the return on investment (ROI) that they represent (Robbins & Judge, 2009). Today, information technology (IT) projects typically dominate many aspects of new project initiatives, simply because those technologies are currently in the evolutionary stage where new business applications emerge and become technically and economically feasible. As is the case with other (i.e. non-IT-related) initiatives, the prudent procedure involves a systematic process whereby projects are first proposed in principle, and then designed in accordance with the fundamental objectives sought by the organization and with full consideration of any potential limitations they represent (George & Jones, 2008; Robbins & Judge, 2009). As a rule, that process consists of the identification of specific criteria that are objective and that lend themselves to quantifiable testing and prioritization to ensure that they will add value to the organization in the manner they are designed to do so (George & Jones, 2008; Robbins & Judge, 2009).
Background of the IT Proposal Evaluation Process
Some of the more important advances in contemporary consumer product marketing and sales functions include the application of digital technology to track consumer purchasing patterns, to target marketing efforts to consumer behavior, and to design product display strategies to maximize profitability. Pioneers in these areas include the largest and most dominant consumer product sellers such as Wal-Mart, Costco, and Target (Byrne, 20041; Byrne, 20042). They have already thoroughly incorporated high-technology mechanisms and systems such as radio frequency identification (RFID) tags in the areas of inventory tracking, product distribution, advance anticipation of...
Business Plan: Bridal Salon Business Products and services Keys to Success Company description Vision Statement Mission Statement Company background Products and Industry Product Description Industry Description The Market Market and Target Customer Market Segmentation Target Market Strategy Competition and Competitive Advantage Curbing Local Competition Curbing Regional Competition Marketing Strategy Overall Strategy Sales Plan Competitive Plan Research and Development (Growth Plan) The Organization Legal and Organization Structure Key Personnel Related Service Providers Location The Financials Critical Risks Income Statement Cash Flow Projection Balance Sheet Assumptions References Executive Summary Introduction Pace-setter is a bridal salon that rides on the theme of 'experience'. It creates an environment in which
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