Information Technology and Social Trends Essay Example | Topics and Well Written Essays - 1500 words

Information Technology and Social Trends - Essay Example Project can broadly be defined as a specific time bound work with specific objectives and goals; budget; and resources (Reynolds, 2010). Project management helps provide the tools to achieve project goals through well planned strategy. It normally encompasses essential steps like: feasibility study of the project; project development; production and implementation process; monitoring and control mechanisms; and successful completion that leads to the smooth running of the project. Thus, effective management of project is critical to the successful delivery of its goals and objectives within the limited resources of time, budget and human capital. The Project Manager helps coordinate the various team issues of the project, which are vital part of project dynamics that facilitate wider understanding and promote improvement and improvisation of the process to achieve project goals and objectives more efficiently. ‘Access to information represents the basic precondition for success of a firm’ (Drucker, 1998). The access to information becomes vital to only promote efficient and knowledge based discharge of duties by the team but also a great tool for the management to exploit the available information to improve its performance. Hence, Information System Development helps in storing and manipulating strategic business information that are designed to improve the overall business prospects. The proficiency in using computers greatly facilitates the project manager to tacitly exploit data to identify the risks and shortcoming so that they can be addressed timely. When IT system is introduced, training on the use of hardware and software becomes intrinsic part of implementation. Barton emphasizes that ‘hands on real time interaction with the new system†¦ with a more broad based understanding of the flow of information through the system’ is needed (Barton, 2001). TQM promotes quality assurance at various levels of project processes

APPLIED DECISION METHODS CLASS; MOD4; Regression Models discussion Essay

APPLIED DECISION METHODS CLASS; MOD4; Regression Models discussion - Essay Example Sales, and Price vs. Sales determined. Using computer software or excel, the coefficients can be generated and measures of goodness of fit determined hence assisting in drawing the scatter diagrams. Render et al. asserts that assessing the plots (measured and calculated values of the dependent variable) and can be used to determine the quality of the model (pg. 127). For a good and apposite model, the trends should not be very dissimilar, and if the difference between measured and calculated points is huge, an ostensible trend should exist. What’s more, in the residual plot, the residual values of the dependent variable should be arbitrarily scattered around the line err=0 and the mean should be zero (normality). For the model to be statistically valid and stable, the confidence intervals to be used should be significantly small. An awkward model yields inaccurate derivative values and impractical results for even smallest extrapolations. Additionally, for an appropriate model, the errors should have a constant variance that expedites the