1. Setting up for success Flashcards
- What are project life cycles and why are they beneficial?
○ They are the structure underpinning deployment.
○ Offer a systematic and organised way to undertake project work.
- What are the three key types of life cycles?
○ Linear
○ Iterative
○ Hybrid
- What are the features three different types of lifestyles?
- ○ Linear
- § Sequential with clearly defined outputs
- § Applies to stable, low risk projects with greater existing structure and direction
○ Iterative
§ Repeats one or more phases
§ This is because scope is too vague for linear, requiring greater flexibility
○ Hybrid
§ Adds iteration to a linear life cycle
- What are the benefits and limitations of linear life cycles?
§ Positives
□ Greater control
□ Clear framework to follow
□ Clear control and governance
□ Clear change points and communication
□ More predictability
□ Greater opportunity to deliver correct scope
□ Higher probability of higher quality
§ Negatives
□ Requires early clarity on scope and governance □ Understanding benefits will take longer as not several stop and reflect steps □ Less flexible to change
What are the benefits and limitations of iterative life cycles?
§ Positives
□ Accommodates vaguer project stopes
□ Useful for evolving objectives used in agile projects
□ Allows for learning between stages to improve next stages.
□ Early feedback can be gained
§ Negatives
□ Lack of early certainty in terms of direction, duration and cost
□ Complexities in managing resource
□ Business case can be difficult to justify if cost is scope and cost is too vague
What are the benefits and limitations of hybrid life cycles?
§ + can choose best of both above cycles eg. If fixed requirement set, iterative style used to develop output and add further value, and improve efficiency as more lessons learnt through iteration.
§ - difficult to be clear on when the project is working due to using multiple systems
- What are the phases are there in a linear approach?
○ Concept - idea and outline business case. Sponsor appointed - decision on whether project viable and whether it’s worth investing in definition phase
○ Definition - preferred solution identified, project management plan and full business case developed. Approved by sponsor before next phase
○ Deployment - plan put into action and project delivered
○ Close/ transition - project closed or handed over to other stakeholders
○ Benefits relisation
- Why are projects structured into phases for the linear approach?
○ Provides clear priorities and appropriate focus at any given time
○ Achieves early understanding of requirements through early planning
○ Easier to communicate to stakeholders and helps transparency
○ Helps control and governance
- What are the differences between project life cycle and extended life cycle?
○ Project life cycle contains phases up to and including transition and phase. It uses the standards project cycle if they’re completing a contract then leaving. Accountability for the output is handed over.
○ Extended life cycle goes beyond transition and close phase and focuses on adoption of outputs and benefits realisation. Suitable when project will incorporate management of change, and where it will change the business itself. The project team support embedding outputs into the organisation and stays until it does so
- What influences which life cycle is selected?
○ Linear chosen when:
§ highly structured, predictable and stable process needed for transparency, control and governance.
§ Near perfect knowledge is available upfront
§ Teams are divided into distinct groups - creating silos and knowledge barriers
§ Lower appetite for risk
○ Iterative when:
§ Projects are agile
§ Departments are flexible and open to change
§ Concurrency is possible - different things can happen at the same point
§ Uncertainty allows objectives to evolve as learning happens
§ Prototypes, timeboxes and parallel activities are utilised to fine new insights etc.
- What is governance?
○ “the framework of authority and accountability that defines and controls the outputs, outcomes and benefits from projects, programmes and portfolios. The mechanism whereby the investing organisation exerts financial and technical control over the deployment of work and the realisation of value.”
- Why is governance needed?:
○ Align with organisations strategic objectives
○ Confirm to corporate governance requirements
○ Are delivering efficiently and don’t impact operations
- What are the key principles of governance?
○ Projects follow a formal structured method which is supported by appropriate ethics, culture, policies and controls.
○ Project roles and responsibilities are clearly defined (and staff have the necessary competence and resources to succeed).
○ Projects have a realistic and approved project plan and the key decision points are clearly defined.
○ Lessons from other projects are embedded into new initiatives and information is openly shared.
○ Stakeholders are engaged openly and honestly and at a level that is proportionate to their level of interest and involvement in the project.
- What are the required aspects of project governance and what do they mean?
○ Policies - guidelines around business expectations of project and boundaries. Ensure continued governance
○ Regulations - Ensure minimum standards are met
○ Processes procedures and functions - Best practice to be in place for team before work begins. Outline working methods and provide method for delivery of project eg. Principles for risk, budget. Also helps with consistency
○ Delegated responsibilities- key that all members know what is expected of them. Improves efficiency
- How do different project lifecycles influence governance?
○ Linear - maximum control and governance - communication between members is simple
○ Iterative - greater flexibility in governance needed as project’s scope may be vague or solution unclear. Adaptations can be made before next iteration to incorporate learned benefits
○ Hybrid - flexible so team can set up the best approach
- What are the key roles in a project?
○ Project manager
○ Project sponsor
○ Project team members
○ Project board
○ Product owner
○ Users
- What does a project manager do?
○ Manages day to day running of project
○ Ensures delivery of outputs, managing risks, budgets and schedules
○ Communicates with other stakeholders
○ Develops project management plan
- What does a product owner do?
○ For iterative or hybrid approaches
○ Defines scope of work, leads focus on development
○ Intermediary between stakeholders and project team members
○ Vision and goals for project
○ Accepts incremental delivery
- What do project team members do?
○ Perform tasks as instructed by project manager
○ Deliver the outputs
○ Report on progress against plan
○ Support PM in completing tasks within plan eg. Identifiyng risks
- What do users do?
○ Define musts and wants
○ Participate as part of the team to identify constraints and dependencies
○ Subject Matter Experts - answer technical questions
○ Define acceptance criteria
- What responsibilities do governance boards have?
○ Regularly monitoring progress reports and key metrics
○ Approving corrective actions
○ Resolving escalated issues and risks
○ Approving beneficial scope change (e.g. to realise additional value for the project)
○ Making sure that projects comply with ethical obligations and regulatory standards
○ Making key decisions – especially at defined decision gates
- What are the benefits of governance?
○ Better decision making, especially at decision gates* (although it may take longer)
○ More likely realisation of project outcomes and value
○ Adherence to legal, regulatory, corporate, ethical and professional standards
○ Builds credibility, trust and confidence through transparency and stakeholder input
○ Optimisation of investment as funding is distributed and prioritised across projects
- What are the four principles of sustainability?
○ Environmental impact - climate change, biodiversity
○ Social impact - diversity, equity and inclusion - impact on local communities
○ Economic impact - risk management factors, affordability and profit
○ Administrative concerns - legislation and regulation, health and safety etc
- What are the different ways to monitor and report sustainability
○ Proactive tools - ISO140001, B Corp
○ Metrics or KPIs, ESG data, carbon and embodied carbon measures
