Information System & Technology Management

Information System & Technology Management

Introduction

In today's fast moving world, there are great requirements for efficiency with time and risk management. As the world is growing big with the concept of globalization, great big billion dollar projects are activated, operating all over the world in different fields and forums. As there are many risks associated with every active project, many developments have been initiated to respect the resources and minimize the uncertainties. The concept of implementing information system and technology management in this regard has been of great affect because of its unique utility to control the variables of unpredictably and uncertainties of events in the business processes. The information system is used for supporting the activities of people at the management, operational and decision-making stage. Information system can further be understudied with the fact that it helps organizations to develop an interaction system consisting of people, processes, data and technology within the organization enabling various strategies for better productivity. This system in the organization mainly includes information and communication technology, which supports and help to control the business processes.

Question 1

Most giant organizations use the techniques of outsourcing to some extent because of better efficiency and achieving economies of scales in production and services. In other formats, organizations use a constructing source more commonly known as Engineering Procurement Construction (EPC) for the purpose of better performance and eliminating the risk factor, also reducing the cost and for achieving timely services. EPC has no proper definition but its spectrum relates to a construction company, which specializes in engineering, procurement and construction forum. An EPC takes a contract of thinking, designing and constructing styles, along with the responsibility of financial risk and unpredictability's (Loots & Henchie, 2011).

Implementing EPC has a few constraints; the practical approach using the EPC limits an organization from holding the complete power of the project when contracting EPC. This is because at times an EPC contractor uses his own ways to construct the project. EPC also limits the owner in a sense that an EPC has the whole authority of designing and constructing the project (Loots & Henchie, 2011). Information System & Technology Management can assist the EPC and contribute to addressing the problems. It can be, considered as the use of information technology to support or shape the organization's competitive strategy, its plan to increase or maintain competitive advantage or reduce the advantage of its competitors. Its primary function is to create a difference to the competitors of the organization (or save the difference) to make it more attractive to potential customers (Cummings, 2006).

In some cases, the factors to be considered in an information systems project, such as the most appropriate computer and communications technology, to use, the impact of the new system on employees of the company and the characteristics system must have, can be determined in a sequential manner. In other cases must earn experience through experimentation as the system evolves in stages (Blanchard & Fabrycky, ...