Information System Costs MGS-3040*03 Learning Aid Type Text Pages 24-25 Michael Capko, Garrett Gloss, Martine Philemon, Michael Talty.

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Presentation transcript:

Information System Costs MGS-3040*03 Learning Aid Type Text Pages Michael Capko, Garrett Gloss, Martine Philemon, Michael Talty

The Cost of Information Systems Part (a) Are people the most expensive component of an information system? Cost of People Salary Training Intangibles There is no perfect information system. It is up to humans to update and maintain these systems Other components are a one-time fee Software and hardware updates

Poorly Developed Systems Part (b) Which component picks up the slack when the hardware and software programs do not work correctly? People Time, Money, Not completing other work Procedures Must be changed if the system is operating poorly

The Cost of a Poorly Designed System Part (b) Direct Money Costs More spent on a new system Training Time lost using the old, ineffective system Intangible Costs Lack of knowledge Inaccurate information

Involvement in the System Part (c) Being involved in requirements and other aspects of system development Having a part in all planning, development, training, and upkeep of the system. Analyze to see if the system is working. If it is not, how can we fix it?

The Biggest Loser Part (c) In the end, the managers, owners, and anyone else responsible for the system and also anyone invested in the business will pay for developing and using a bad system. Developing a New System Employee Time/Training Improperly utilizing employee time Direct loss of revenue from customers

Worth of Its Cost In the end, it must be determined that the overall value of an information system outweighs the overall cost.