(01) Introduction to Project Management

Question 1

What are some project drivers?

Answer 1

• Need for efficiency (productivity) improvement.
  
  • Business Case: improve revenues, customer service or decrease costs.
  • Implementation of technology.
  • Process improvements.
  • Global competition.
  • Compression of product lifecycle.
  • Increased customer focus.
  • Disruptive technologies give rise to projects.
  • Business model changes lead to projects.

Question 2

What are deliverables?

Answer 2

A project’s output.

- E.g. a new production plant is constructed and brought into operation.

Question 3

What are outcomes?

Answer 3

The result of the change derived from using the project’s deliverables.
- E.g., More of the company’s products can be manufactured in the same time period. (maybe quality improvement, more timely).

Question 4

What are benefits?

Answer 4

The measurable improvement resulting from an outcome that is perceived as an advantage by one or more stakeholders.
- E.g., The company can deliver more products (or better quality) to its customers, and sales revenues increase by 20%. (maybe cost decrease).

Question 5

What is Project Management?

Answer 5

The application of knowledge, tools, techniques to project activities in order to meet or exceed stakeholders needs and expectations from a project.

Question 6

What are the different ways to define project success?

Answer 6

• The project met scope, time and cost goals.
  
  • The project satisfied the customer/sponsor.
  • The project produced the desired results.

Question 7

What are project stakeholders?

Answer 7

Individuals and organisations actively involved in the project or whose interests may be affected as a result of project execution or successful project completion.

Question 8

What are examples of Internal Stakeholders?

Answer 8

• Project manager.
  - Project team.
  - Project Sponsor.

Question 9

What are examples of External Stakeholders?

Answer 9

• Customer.
  - Contractors.
  - Society at large.

Question 10

What are some project challenges?

Answer 10

• Unrealistic deadlines.
  
  • Unclear scope definition and frequent scope changes.
  • Planning projects.
  • Managing project team.
  • Managing resources.
  • Managing risks.
  • Managing stakeholders expectations.
  • Meeting the deadline within the budget at a satisfactory performance level.

Question 11

What are the different parts of the Project Model?

Answer 11

• Input.
• Constraints.
• Mechanisms.
• Output.

Question 12

What is an input?

Answer 12

Want/need.

Question 13

What are constraints?

Answer 13

Financial, legal, environmental, time, logic, quality etc.

Question 14

What are mechanisms?

Answer 14

People, knowledge & experience, capital, tools and techniques, technology.

Question 15

What is an output?

Answer 15

Satisfied need (information tangible product, changed people).