Investing in TUFS Essay Sample
A limited time offer!
Get a custom sample essay written according to your requirements urgent 3h delivery guaranteedOrder Now
Investing in TUFS Essay Sample
Selecting the appropriate type of research design
Week 3’s objective about selecting the appropriate type of research design was a struggle for me. The reason is that there are so many “design dimensions and no simple classification system define all the variations that must be considered” (Cooper & Schindler, 2011, p 126). When conducting any research project you want to take all steps necessary to produce accurate and reliable data, but more importantly you want to ensure that you capture the information or data that you seek. If you research design is wrong you will not have a successful study.
The difference between quantitative and qualitative research In week three I struggled with the difference between qualitative and quantitative research which was difficult for me to understand. When defining a problem or developing an approach to a problem, qualitative research is used when we don’t know what to expect. It is also used to explore issues related to the problem and deeper into issues of interest. Qualitative research methods are things like focus groups, triads, and bulletin boards. Quantitative is conclusive, as it tries to understand how relevant it is by looking for projectable results to larger population. In quantitative research data is collected through surveys, audits, and point of purchases. Since they both provide different perspectives and complement each other qualitative and quantitative should be used.
Quantitative research is used to measure the incidence of various views, and opinions in a chosen samples, and is sometimes followed by qualitative research which is used to explore some more findings. In summary qualitative and quantitative approaches to research have different perspectives of situations. Qualitative and qualitative research are highly informative especially if their used together. Quantitative researches mostly focus on number and information that maintain the numbers. Qualitative researchers aim to gather a depth’s understanding of human behavioral habits and the reasons that govern such behavior. The qualitative method investigates the why and how of consumer decision making and not just the what, where and when. This will leave smaller but more focused groups are more often used than larger ones. This would be easiest explained by looking at the marketing of grocery stores in the weekly newspaper. If one were to ask themselves what a person was going to purchase and why, then you would be more inclined to market those particular products aggressively. Reliable Data
When you are conducting research it is important to not only have reliable data, but enough data as well. I think that it is very important to be sure that you have accurate and quality data as well. Getting enough data is important for any good research paper as well. You need to be sure that you have enough data to support the research you have done. Data and statistics are what make a good research paper. I think that being sure you have good data and enough data is the most important part of any good research paper.
1. What went wrong with the TUFS investment and what can be done to prevent these problems in the future? TUFS is the Technical Underwriting Financial System and was the biggest distinct outlay in IT by the Northern Insurance Company. They faced the difficulties in first few months and the team found very hard to finish it. The concerns are related with the efficacy and the upcoming prospects for the top notch evolution in underwriting process. Then it converted in to the key commercial coinage quarry. TUFS had the income and resources from Northern and to resolution the underwriting inaccuracies and the confrontation to the edifice. They were not in condition that they can save some money that is allocated for that project. The meeting happened between Martin and the CFO of the Northern, they were discussing on the significant investment of the system. They addressed the issues in the project and asked about the expenditure of $4 million in the project.
First and foremost, the reason is system couldn’t match with the elementary underwriting needs. The underwriting department couldn’t get much help much. And for the employees that project was new so they will take some time to speed up. Also, they had tight target. It was the high-ranking administration choice and they just let them know, but they aren’t known about those accountabilities about the project and all conversant later on. Furthermore, they weren’t known about the training program and the help desk was included in original plan. For the e-business proficiencies the functionalities are bowdlerized and the underwriting functionalities are highlighted. In order to prevent those problems, they should address the concerns one by one from root level. The underwriting needs should be fulfilled with the different ways. The employees should get some training for the project, so the speed can boost up. In last, E-business skills should get more prominence.
2. What does Northern need to do to realize the benefits that were projected for TUFS? The profits that were expected for TUFS are to renovate the Northern by rearrangement the underwriting the procedures and run the planned e-business proficiencies. The project is mainly focused within time and budget. Northern should appreciate the efforts that been exerted by the CIO, Martin Drysdale, project team mates and other employees who are involved in to the project. Melissa Freeman, CFO, did her coursework accurately, but she neglected many points. They should understand that some errors are from Northern side too. They shouldn’t leave their hands off from the project duties completely.
There are many benefits can be expected from this project such as it will make over the calculated commercial proficiencies. It will be proved as very important deal by investing in the project. The project can bring more money once it done. The project team is very efficient so they can surely get more benefits. They should consider all analytical aspects, matters, and expectations from the project. In addition to, they should comprehend the scope objectives, one-on-one phone calls, email surveys, round-table discussions, and online surveys are outstanding methods to appraise a project. The northern should know that already Martin is putting too much effort. And top of that to know about the current state of the project, ask workers and managing team and review the results with the project manager.
3. How can Northern measure these benefits?
They can come to know from the change reports, annual reports and progress reports of the TUFS. The course work and project outlines can definitely let them know about the dignified remunerations. The economic outlines can clearly come in focus by their research. To know the benefits of the project they should know about the success of the project is must. Firstly, is it finished within calculated amount of time and budget? Was the project’s schedule accomplishment on time? Was the project concluded with the satisfaction of the stakeholders and customers? Product success is also key measures to know the project success.
Product Success is over and over again tough to explain. The expenditures and the cost savings are two measures to outline the product success. The team of TUFS should outline about the quality of work and their work outcomes. The Northern can evaluate the results through the outcome evaluation, business goals satisfaction, and acute decision influence during the project, and priorities of the project tasks. By reporting progress and project success factors the profits can easily come to know. To sum up, Northern can know measures by all illustrated factors and report evolution toward the objective of aim. Regular updates are also very necessary to know.
James D Mckeen, H. A. (May 2010.). Investing at TUFS. In H. A. James D Mckeen, IT strategy issues and practices. (p. 313). Ontario, Canada.: Library of Congress.
Roberts, D. (1998-2012). Qualitative vs Quantitative Data. Retrieved from http://www.regentsprep.org/regents/math/algebra/ad1/qualquant.htm Copper, D., & Schindler, P. (2011). Business research methods (11th ed.). Retrieved from The University of Phoenix eBook Collection database.