Core Activity B Flashcards
What is the difference between Groups and Teams?
Groups are collections of individuals; teams work collaboratively toward shared goals.
What are the stages of Team Development?
Forming → Storming → Norming → Performing → Adjourning.
Name Belbin’s Team Roles.
Coordinator, Shaper, Plant, Monitor Evaluator, Resource Investigator, Implementer, Team Worker, Completer Finisher, Specialist.
Key traits of High Performing Teams (VauL Model)?
Clear purpose, commitment, teamwork, strong leadership, invention and adoption of new methods.
Peters and Waterman’s team characteristics?
Small number, limited duration, voluntary membership, informal communication, action-oriented.
What three skills are key for managing relationships in teams?
Communication, Negotiation, Conflict management.
How is WACC easier to calculate in listed companies?
Share prices and market values are transparent.
What is Yield to Maturity?
The total return expected on a bond if held until it matures.
What is the advantage of Long-Term Debt Finance?
Lower cost, secured against assets, matches funding needs, tax-deductible interest.
What are the characteristics of Equity Finance?
Shareholder ownership, expensive, permanent funding, no guaranteed dividends.
What are the risks of issuing Equity?
Dilution of ownership and shareholder expectations.
Advantages of Debt Finance?
Cheaper than equity, tax relief on interest, secured lending reduces lender risk.
Name other sources of finance.
Leasing, Bank loans, Venture capital, Private investors, Government schemes.
What are the steps of the Risk Management Process?
Identify → Assess → Respond → Monitor.
What does the TARA Framework stand for?
Transfer, Accept, Reduce, Avoid risks.
What is Scenario Planning?
Planning for multiple future possibilities.
What is Sensitivity Analysis?
‘What if’ analysis to test impact of changes on project outcomes.
What is Contingency Planning?
Preparing for unexpected events.
How to identify key project personnel?
Identify skills required, roles, and stakeholder impact.
How are Probabilities and Expected Values used in projects?
To predict outcomes using likelihoods; adjust decisions based on risk.
What risks arise from IT systems and Big Data?
Cybersecurity breaches, data loss.
Name types of business risks.
Strategic, product, operational, financial, technological, legal, environmental.
What are Risk Attitudes?
Risk-neutral, risk-averse, or risk-seeking behaviours in decision-making.
How to manage stakeholder relationships?
Maintain communication, manage expectations, negotiate needs.
What is the role of a Project Manager?
Lead the project, coordinate teams, manage stakeholders, ensure delivery.
What does effective Project Team Management involve?
Building the right team, encouraging collaboration, resolving issues.
Why is a Project Structure important?
Clarifies reporting lines and assigns responsibilities.
Key methods for Planning for Risk and Uncertainty?
TARA, Contingency Planning, PERT, Scenario Planning.
What are the three Project Constraints?
Quality, Cost, and Time.
What model describes Team Leadership stages?
Tuckman’s stages: Forming, Storming, Norming, Performing, Adjourning.
When are most resources needed during a project?
During peak activity phases of the project lifecycle.
Name the Project Management Process Areas.
Initiating, Planning, Controlling, Executing, Closing.
What is a PID (Project Initiation Document)?
Document defining project purpose, scope, cost, time estimates, and stakeholders.
What factors are checked in Project Feasibility Analysis?
Technical, social, environmental, economic impacts.
What is the use of Project Management Software?
Helps manage activities, resources, schedules, and risk assessments efficiently.
