Organizations Have Developed Techniques for Evaluating IT Projects for Several

question 1

Short Answer

Organizations have developed techniques for evaluating IT projects for several reasons. Which of the following is not one of those reasons?
A. Selecting one investment often means forgoing other potentially value-increasing investments.
B. IT projects often require new sets of skills, which may not be readily available, or may be cost-prohibitive to build.
C. IT projects often require large amounts of capital, and for most firms, capital resources are limited.
D. IT projects often involve changes in business processes that will affect substantial portions of the organization.

Understand the fundamental role of utilities in economic theory.

Acknowledge that using resources for one purpose reduces their availability for other purposes.

Learn about the economizing problem of allocating limited resources to satisfy unlimited wants.

Appreciate the role of assumptions in economic modeling and the scientific method in economics.

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Definitions:

Heuristic

A rule-of-thumb or shortcut that is used to make decisions or solve problems more quickly.

Algorithm

A step-by-step procedure for calculations, data processing, and automated reasoning tasks.

Representativeness Heuristic

A cognitive shortcut where people categorize situations or individuals based on how similar they are to typical cases or categories they know.

Prototypes

Original models or first forms from which subsequent forms are derived or developed; in psychology, widely accepted examples of a certain category.