03 Project Concept Flashcards

1
Q

What two key questions are answered in the project need phase?

A

1) What is the need for this project?

2) What is the feasibility of this project, and who needs to be involved?

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2
Q

Stakeholders?

A

Individuals/groups with interest in a project since they are impacted by it in some way. They determine success/failure of the project

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3
Q

4 steps to stakeholder engagement?

A

1) Identify
2) Assess
3) Plan communications
4) Engage and influence

IAPE

(see exercise 3.2 to finish this!)

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4
Q

How can stakeholders be prioritized, since they are not all equal?

A

According to:

1) levels of power
2) levels of interest

Can do this graphically (see 3.3)

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5
Q

4 things to consider when assessing stakeholders?

A

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?

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6
Q

What is stakeholder management, and who typically engages in it?

A

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

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7
Q

Benefits of stakeholder management?

A

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

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8
Q

What is the business case?

A

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)

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9
Q

Who prepares the business case, and who owns the business case?

A

Prepared by PM

Owned by sponsor (also accountable for ensuring BC gets necessary approval from senior management)

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10
Q

See and learn

A

3.5 exercise: development of the business case

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11
Q

Explain the 5 steps of development of a business case?

A

1) Concept: Identify problem/opportunity
2) Definition: detailed BC
3) Development
4) Handover:

(confused???)

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12
Q

6 sections that can be included in a business case?

A

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)

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13
Q

What are success factors?

A

Elements of a project context that increase the chance of achieving a successful outcome.

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14
Q

Examples of success factors? (see)

A
Clarity of project objectives
Effectiveness of project governance
Senior management commitment
Clarity and timeliness of communication
Capability and motivation of team
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15
Q

What is the difference between an output of a project and a benefit?

A

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

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16
Q

3 types of benefits and examples?

A

TID:
Tangible (hard) - profit/turnover etc

Intangible (soft) - reputation/motivation of staff/capability

Dis-benefit - a consequence of change perceived as NEGATIVE by stakeholders

17
Q

Note?

A

Project managers should avoid stating benefits that cannot be measured. If benefits cannot be measured, they cannot be managed, and their realisation (or otherwise) will be unclear to the organisation and the project stakeholders.

18
Q

What is benefits management?

A

Benefits management is the identification, definition, planning, tracking and realisation of business benefits

19
Q

5 steps to benefits management process?

A

DIPIR

1) Define benefits management plan
2) Identify and structure benefits
3) Plan benefits realisation
4) Implement change
5) Realise benefits

(see 3.8 explanations!)

20
Q

Define success criteria?

A

Qualitative/quantitative measures by which the success of project management is judged (post)

21
Q

Define KPIs?

A

Key performance indicators: measures of success that can be used throughout the project to ensure that it is progressing towards a successful conclusion (during)

22
Q

See

A

diagram and stuff in 3.9

23
Q

Note:

A

possible for a project to satisfy success criteria but still fail to deliver the anticipated benefits and vice versa (not sure why)

24
Q

What is procurement?

A

The process by which products and services are acquired from an external provider for incorporation into the project, programme or portfolio

25
Q

3 areas which project managers may need to procure in?

A

1) Standard ‘off-the-shelf’ goods and services
2) Goods/services that are designed and provided specifically for the purchaser
3) Professional advice/consultancy

26
Q

What do PMs have to be able to understand to do procurement?

A

Contracts, and how to manage and select external providers

27
Q

See

A

3.11: parts of a contract

28
Q

What is the procurement strategy?

A

The plan for the way in which G&Ss are to be acquired, whilst respecting relevant organisational constraints (eg. ethical procurement policies)

29
Q

Factors affecting how procurement is to be managed? (6)

A
Make/buy decision
Single/integrated/multiple providers
Required provider relationships
Conditions & contract form
Provider selection
Types of pricing and methods of reimbursement
30
Q

OJEU legislation may affect how an organisation engages with suppliers…

A

OJEU objectives include:

  • A more transparent and objective procurement process whilst encouraging competition amongst bidders
  • Public Procurement Directives that are intended to ensure fair and non-discriminatory international competition for contracts greater than defined threshold values
31
Q

See

A

“Provider selection and management is the process of identifying, selecting, appointing and supervising providers through the project, programme or portfolio life cycle.” Provider management is a continual process throughout the project life cycle. While the process may vary from sector to sector, it generally follows six generic steps and needs to be efficient and suitable for the context within which the suppliers are being engaged.

32
Q

6 steps to provider management?

A

1) Research (might simplify using an ‘approved supplier’ list)
2) Pre-qualification (Pre Qualification Questionnaire PQQ)
3) Tender (invitation to tender ITT)
4) Award (contract agreement)
5) Manage
6) Close

(see 3.12 for explanations)

33
Q

What is a PQQ?

A

A Pre-Qualification Questionnaire (PQQ) can be used to clarify suppliers’ capacity, willingness to tender, financial stability and technical experience. The PQQ seeks to reduce a long list of potential suppliers to a manageable number who are eligible for contract award and will then be invited to tender.

34
Q

What is an ITT?

A

The shortlisted providers can be asked to provide a full bid against a set of defined requirements – typically known as an Invitation to Tender (ITT)

35
Q

What should happen at ‘close’ stage of provider management?

A

Termination of contract:

  • ensure all financial arrangements are honoured
  • ensure all contract changes have been accounted for
  • implementing the SUPPORT MAINTENANCE CONTRACT to repair/upgrade goods provided
  • performance review with provider is conducted