2. When developing any kind of information system, why is it significant to define specific performance and cost measures early in the process
Defining specific performance and cost measures early in the process of developing an information system is significant for the following reasons:
1. Goal Setting: Setting clear and specific performance and cost measures helps in establishing realistic goals and expectations for the project. It provides a clear direction for the development team and ensures that everyone is working towards the same objectives.
2. Monitoring and Control: Having defined performance and cost measures allows for continuous monitoring of the project's progress. Project managers can track key metrics to identify any deviations from the established goals and take corrective actions in a timely manner.
3. Resource Allocation: By defining cost measures early on, organizations can effectively allocate resources and budget for the development of the information system. This ensures that resources are utilized efficiently and helps in preventing cost overruns.
4. Stakeholder Communication: Clear performance and cost measures enable effective communication with stakeholders, such as clients, management, and team members. It helps in keeping all parties informed about the project’s progress and results, fostering transparency and trust.
5. Evaluation and Improvement: Defined performance measures allow for objective evaluation of the information system's effectiveness and efficiency. It facilitates the identification of areas for improvement and helps in optimizing the system's performance over time.
In conclusion, defining specific performance and cost measures early in the process of developing an information system is crucial for setting goals, monitoring progress, optimizing resource allocation, communicating with stakeholders, and ensuring continuous evaluation and improvement.