7. Project Portfolio Planning Flashcards
What is Project Selection?
The process to assess each project idea and select the project with the highest priority.
What is Pre Qualification?
The process used to minimise portfolio decisions in a project.
Name 3 project types
> Maintenance projects
Growth projects
Transformation projects
Breakthrough projects
Name the 4 processes for project selection once a project has made the pre-qualification cut (Acronym: RAAD)
(1) Ranking of benefits (ROI)
(2) Appraisal of risk
(3) Assessment of resources
(4) Deciding on optimum project pipeline
Explain the Project Portfolio Process (PPP)
Operationalizing project selection in a way that links the project to the strategy of the organization.
List the 8 PPP steps (Ei-CARP-Si)
- Establish a project governance council
- Identify project categories
- Collect project data
- Assess resource availability
- Reduce the project and criteria set
- Prioritise the projects within categories
- Select projects to be funded
- Implement the process
What is a Project Proposal?
A project bid that requires detailed analysis to be put together. i.e. cover letter, executive summary, past experience
Each type of project has a different…model (fill in the blank)
Pre-qualification
Explain what a Maintenance project is?
Supports on-going products and services
Explain what a Growth projects is?
Supports strategic initiatives and will have increasing value
Explain what a Transformation project is?
Projects that move the organisation to a new level
Describe 3 criteria that could be considered in the pre-qualification template
1) Sound politically, socially, or for business relationships?
2) Without excessive risk or within risk culture?
3) Feasible both technologically and economically? (PEST?)?
Identify the 6 parts of a project proposal
1_ Executive summary 2_ Cover letter 3_ Past experience 4_ The technical approach 5_ The implementation plan 6_ The plan for logistic support and administration
