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exam study deck > Ed. 7, STD Chp 2 / Systm for Value Deliv > Flashcards

Ed. 7, STD Chp 2 / Systm for Value Deliv Flashcards

1
Q

The std uses the term ORGANIZATION is used when referring to ____

[2.1 Creating Value]

A
  • government agencies
  • enterprises
  • contractual arrangements
  • joint ventures
  • other arrangements
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2
Q

Organizations create value for ______

[2.1 Creating Value]

A

stakeholders

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3
Q

Examples of ways that projects produce value include, but are not limited to:

[2.1 Creating Value]

A
  • CREATING a NEW product, service, or result that meets the needs of customers or end users
  • CREATING positive social or environmental contributions
  • IMPROVING efficiency, productivity, effectiveness, or responsiveness
  • ENABLING CHANGES needed to facilitate organizational transition to its desired future state
  • SUSTAINING BENEFITS enabled by previous programs, projects or business operations
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4
Q

components of a value delivery system align with

[2.1.1 Value Delivery Components]

A

an organization’s strategy

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5
Q

Operations can directly support and influence:

[2.1.1 Value Delivery Components]

A

portfolios, programs, and projects

other business functions such as payroll, supply chain management

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6
Q

portfolios, programs, and projects can influence:

[2.1.1 Value Delivery Components]

A
  • each other

- operations

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7
Q

what are examples of value delivery components

[2.1.1 Value Delivery Components]

A 
portfolios
programs
projects
products
operations
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8
Q

A value delivery system works most efficiently when ____

A

information and feedback are shared consistently amoung all components

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9
Q

why does a value delivery system work most efficiently when information and feedback are shared consistently among components?

A

keeps the system ALIGNED with strategy and ATTUNED to environment

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10
Q

Senior leadership shares what kind of information with portfolios?

[2.1.2. Model flow of information / example of information flow]

A

strategy

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11
Q

Portfolios share what kind of information with Programs and Projects?

[2.1.2. Model flow of information / example of information flow]

A

desired outcomes
benefits
value

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12
Q

Programs and Projects pass what kind of information on to Operations?

[2.1.2. Model flow of information / example of information flow]

A

Deliverables

information on support and maintenance for deliverables

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13
Q

Operations passes what kind of information onto Programs and Projects?

[2.1.2. Model flow of information / example of information flow]

A

SUGGESTIONS on adjustments, fixes and updates for deliverables

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14
Q

Programs and Projects provide what kind of information to Portfolios?

[2.1.2. Model flow of information / example of information flow]

A

PERFORMANCE information

PROGRESS on achieving the desired outcomes, benefits, and value to portfolios

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15
Q

Portfolios provide what kind of information to senior leadership?

[2.1.2. Model flow of information / example of information flow]

A

Portfolio performance information

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16
Q

Operations provides what kind of information to Senior Leadership?

[2.1.2. Model flow of information / example of information flow]

A

information on how well the organization’s strategy is advancing
(outcomes, benefits, and value performance analysis)

17
Q

[governance systems] works along side [value delivery systems] to enable ___

A

smooth workflows
manage issues
support decision making

18
Q

[Governance systems] provide a framework with [functions and proceses] that ___

A

guide activities

19
Q

a [governance framework] can include elements of:

A
  • oversight
  • control
  • value assessment
  • integration among components
  • decision-making capabilities
20
Q

[governance systems] provide an integrated structure for:

A

evaluating changes, issues and risks associated with the envirnment and any component in the value delivery system

21
Q

[governance systems] evaluate environmental changes, issues and risks that might impact

A

portfolio objectives
program benefits
deliverables produced by projects

22
Q

[project governance] includes ___

A

defining the authority to approve changes and make other decisions related to the project

23
Q

[project governance] is aligned with ___

A

program and/or organizational governance

24
Q

Start at: 2.3 FUNCTIONS ASSOCIATED WITH PROJECTS

A

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