ADMS 2511 Chapter 11: Chapter 11

• School: York University
• Department: Administrative Studies
• Course: ADMS 2511
• Professor: Ingrid Splettstoesser

Document Summary

Evaluating and justifying it investment: benefits, costs and issues: assessing the costs, fixed costs, unanticipated expenses, variable costs, assessing the benefits, conducting the cost benefit analysis, net present values, return on investment, breakeven analysis, business case approach. When contemplating which option to choose, companies must make a series of business decisions. Customize a prewritten application: customization existing software is an especially attractive option if the software vendor allows the company to modify the application to meet its needs. It is not the best strategy if customization is the only method of flexibly addressing those needs. It also is not the best strategy if the software is either very expensive or likely to become obsolete very quickly. Lastly, customizing a prewritten application, particularly a large, complex one, can be very difficult. Lease the application: as compared to the buy and developing in-house applications, the lease options can save a company both time and money.