03 Project Concept Flashcards
What two key questions are answered in the project need phase?
1) What is the need for this project?
2) What is the feasibility of this project, and who needs to be involved?
Stakeholders?
Individuals/groups with interest in a project since they are impacted by it in some way. They determine success/failure of the project
4 steps to stakeholder engagement?
1) Identify
2) Assess
3) Plan communications
4) Engage and influence
IAPE
(see exercise 3.2 to finish this!)
How can stakeholders be prioritized, since they are not all equal?
According to:
1) levels of power
2) levels of interest
Can do this graphically (see 3.3)
4 things to consider when assessing stakeholders?
1) Impact on stakeholders
2) Supportive/resistant/neutral to project?
3) Who/what can influence their views
4) How can their expectations be managed, and by who?
What is stakeholder management, and who typically engages in it?
Management of stakeholders to ensure that opposition to the project is minimized/removed - typically done by PM, but they may require assistance in this role
Benefits of stakeholder management?
Increase project support
Easier acquisition of necessary resources
Lower resistance -> PM focused on project delivery
Enhanced DMing and comms through building a trusting environment
Better chance of deliverable acceptance if SHs have been consulted and listened to throughout the project
What is the business case?
The document in a project that justifies WHY a project is being undertaken by justifying its viability through costs and benefits (and risks of alternative options)
Who prepares the business case, and who owns the business case?
Prepared by PM
Owned by sponsor (also accountable for ensuring BC gets necessary approval from senior management)
See and learn
3.5 exercise: development of the business case
Explain the 5 steps of development of a business case?
1) Concept: Identify problem/opportunity
2) Definition: detailed BC
3) Development
4) Handover:
(confused???)
6 sections that can be included in a business case?
SOB CRT
Strategic Case - background of project and why it is needed
Options appraisal - options which have been considered
Benefits
Costs
Risk
Timescales (of project and benefits realization)
What are success factors?
Elements of a project context that increase the chance of achieving a successful outcome.
Examples of success factors? (see)
Clarity of project objectives Effectiveness of project governance Senior management commitment Clarity and timeliness of communication Capability and motivation of team
What is the difference between an output of a project and a benefit?
An output is the deliverable which the project team produces; a benefit is a quantifiable and measurable improvement from the completion of deliverables that is perceived as positive by a stakeholder