Planning for Success Flashcards
What is a business case?
Provides Justification for a project.
It evaluates benefit, cost and risk of alternative.
Provides rationale for preferred option.
Who is involved in creating a Business Case?
Project Steering Group
Project Sponsor
Project Manager
Users
Subject Matter Experts
Why is a Business Case Important?
Recognised framework for making investment decisions.
Gains creditability and stakeholder buy in
Ensures alignment to business overall strategy
Holds the sponsor to account.
Reviewed throughout lifecycle to assess continuing viability of the project.
List 5 Sections of the Business Case
- Strategy - How does it align to organisational goals.
- Economy - Does it represent public value?
- Commerciality - Is it viable against the market?
- Finance - Is there funding available?
- Management - How and who will deliver it?
Explain how the business case is used at each stage of the life cycle.
- Concept - BC launches project justification and investment.
- Definition - Business case leads to the PMP with engaged stakeholders
- Deployment - Plans are implemented and the BC is references for key decision making.
- Transition - BC remains an important references reviewing whether benefits have been realised.
What is a benefits management plan?
Explains how benefits will be managed. It sets out policies for aspects such as measurement, roles and responsibilities, priorities and KPIs
Explain the 5 stages of a benefits management plan?
- Identification - Capture requirements and record benefits for justification.
- Definition - Modelling and mapping priority, interdependencies, value time and ownership.
- Planning - Baseline and agree targets.
- Tracking - agreed what benefits are tracked and how. Sponsor is accountable of the delivery.
- Realisation - Attitudes, behaviours or physical product changes. Document for handover to BAU
What is the 3 step process of stakeholder engagement?
- Analysis - who is key and do they pose risks to the project.
- Engagement -
Understand the roles of stakeholders
The Nature of their business
Their needs in approach to comms
respond to stakeholder motivation
3.Influence -
Map stakeholders based on influence
Look at power and influence of stakeholders
Action Plan
Prioritise efforts based on power and influence.
What are 5 benefits of stakeholder engagement planning?
- Effective Risk Management
- Improved Comms planning
- Productive team is formed
- Effective engagement actions initiated.
- Increased likelihood of the project being accepted.
What is a Deployment Baseline?
An agreed reference point that can be communicated to all stakeholders.
The PMP will then represent how this deployment will be managed
Explain a deployment baseline in an iterative lifecycle
Baseline Plan is required but flexible.
Baseline resources and schedule are determined.
Achievement of scope and quality may vary from the plan as priorities change and knowledge is gained.
Explain a deployment baseline in a Linear Lifecycle
Assumption is that all work can be defined, estimated, scheduled, risked, resourced and costed ahead of deployment.
Baseline can be established then managed and controlled in PMP.
There is a risk of unforeseen issues to arise in this.
What is a Project Management Plan?
A consolidated plan that communicates the details of the approved plan to stakeholders.
It has been produced by the project manager with the engagement of all the stakeholders involved in deploying the project.
Who are the stakeholders of a project management plan?
- Project Team Members
- Users
- Resource Managers
- Project Manager
- Sponsor
Why is a project management plan important?
- Key Planning tool to support effective delivery
- Identify goals
- Identify and manage risks
- Avoid missing mile stones
- Supports managing external contractors
- Useful in performance reviews
