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Essay / Research Paper Abstract
This 6 page paper looks at a case study supplied by the student and develops a way of assessing IT projects in order to prioritize them. The model developed is explained and then demonstrated in several potential IT projects. The bibliography cites 3 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEriorITp.doc
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Unformatted sample text from the term paper:
order to minimise opportunity costs. To develop assessment criteria that may be applied to potential projects the different considerations that are already applied to IT projects need to be assessed.
This may then be used to develop a scoring process with the different elements weighted according to their importance. The first consideration may be to look at whether a
project is mandated by law, federal or state, or is required in order to comply with executive orders. These projects have to be undertaken, failing to comply may have very
high costs, fines for non compliance and negative publicity could have a significant impact on the firm, its reputation, sales as well as profitability (Mintzberg et al, 2008). Therefore, when
assessing the projects the first criteria will be a simple prioritising; if the project is mandated by legislation it will be prioritised automatically. If the project is not mandated by
legislation it is then it proceeds to the remaining assessment process. The remaining criteria will be listed and the project scored on a scale of 1 - 5 against
these criteria. A pre set scale may be developed to ensure that there is an objective approach taken in this assessment. For example, the project drives more revenue for the
organization may be assessed ion a scale of the amount it will drive compared to the required investment, just as revenue may be used here, profit may also be used,
and scales for the different scores may be developed on measures such as projected internal rate of return or expected return on investment, profitability index may also be used. This
could also be adjusted with a payback period assessment, so short term projects with a fast pay back period, and as such a low opportunity cost, may gain some advantages
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