Chapter Six

Baseline Project Plan A major outcome and deliverable from the project initiation and planning phase which contains the best estimate of a projectās scope, benefits, costs, risks, and resource requirements.
Business case The justification for an information system, presented in terms of the tangible and intangible economic benefits and costs, and the technical and organizational feasibility of the proposed system.
Discount rate The rate of return used to compute the present value of future cash flows.
Economic feasibility A process of identifying the financial benefits and costs associated with a development project.
Feasibility See Economic feasibility, Legal and contractual feasibility, Operational feasibility, Political feasibility, Schedule feasibility, Technical feasibility.
Intangible benefit A benefit derived from the creation of an information system that cannot be easily measured in dollars or with certainty. See also Tangible benefit.
Intangible cost A cost associated with an information system that cannot be easily measured in terms of dollars or with certainty. See also Tangible cost.
Legal and contractual feasibility The process of assessing potential legal and contractual ramifications due to the construction of a system.
One-time cost A cost associated with project start-up and development, or system start-up.
Operational feasibility The process of assessing the degree to which a proposed system solves business problems or takes advantage of business opportunities.
Political feasibility The process of evaluating how key stakeholders within the organization view the proposed system.
Present value The current value of a future cash flow.
Recurring cost A cost resulting from the ongoing evolution and use of a system.
Schedule feasibility The process of assessing the degree to which the potential timeframe and completion dates for all major activities within a project meet organizational deadlines and constraints for affecting change.
Statement of Work (SOW) Document prepared for the customer during project initiation and planning that describes what the project will deliver and outlines generally at a high level all work required to complete the project.
Tangible benefit A benefit derived from the creation of an information system that can be measured in dollars and with certainty. See also Intangible benefit.
Tangible cost A cost associated with an information system that can be measured in terms of dollars and with certainty. See also Intangible cost.
Technical feasibility A process of assessing the development organizationās ability to construct a proposed system.
Walkthrough A peer group review of any product created during the systems development process. Also called structured walkthrough.

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