Ed. 7, STD Chp 2 / Systm for Value Deliv Flashcards
The std uses the term ORGANIZATION is used when referring to ____
[2.1 Creating Value]
- government agencies
- enterprises
- contractual arrangements
- joint ventures
- other arrangements
Organizations create value for ______
[2.1 Creating Value]
stakeholders
Examples of ways that projects produce value include, but are not limited to:
[2.1 Creating Value]
- 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
components of a value delivery system align with
[2.1.1 Value Delivery Components]
an organization’s strategy
Operations can directly support and influence:
[2.1.1 Value Delivery Components]
portfolios, programs, and projects
other business functions such as payroll, supply chain management
portfolios, programs, and projects can influence:
[2.1.1 Value Delivery Components]
- each other
- operations
what are examples of value delivery components
[2.1.1 Value Delivery Components]
portfolios programs projects products operations
A value delivery system works most efficiently when ____
information and feedback are shared consistently amoung all components
why does a value delivery system work most efficiently when information and feedback are shared consistently among components?
keeps the system ALIGNED with strategy and ATTUNED to environment
Senior leadership shares what kind of information with portfolios?
[2.1.2. Model flow of information / example of information flow]
strategy
Portfolios share what kind of information with Programs and Projects?
[2.1.2. Model flow of information / example of information flow]
desired outcomes
benefits
value
Programs and Projects pass what kind of information on to Operations?
[2.1.2. Model flow of information / example of information flow]
Deliverables
information on support and maintenance for deliverables
Operations passes what kind of information onto Programs and Projects?
[2.1.2. Model flow of information / example of information flow]
SUGGESTIONS on adjustments, fixes and updates for deliverables
Programs and Projects provide what kind of information to Portfolios?
[2.1.2. Model flow of information / example of information flow]
PERFORMANCE information
PROGRESS on achieving the desired outcomes, benefits, and value to portfolios
Portfolios provide what kind of information to senior leadership?
[2.1.2. Model flow of information / example of information flow]
Portfolio performance information
Operations provides what kind of information to Senior Leadership?
[2.1.2. Model flow of information / example of information flow]
information on how well the organization’s strategy is advancing
(outcomes, benefits, and value performance analysis)
[governance systems] works along side [value delivery systems] to enable ___
smooth workflows
manage issues
support decision making
[Governance systems] provide a framework with [functions and proceses] that ___
guide activities
a [governance framework] can include elements of:
- oversight
- control
- value assessment
- integration among components
- decision-making capabilities
[governance systems] provide an integrated structure for:
evaluating changes, issues and risks associated with the envirnment and any component in the value delivery system
[governance systems] evaluate environmental changes, issues and risks that might impact
portfolio objectives
program benefits
deliverables produced by projects
[project governance] includes ___
defining the authority to approve changes and make other decisions related to the project
[project governance] is aligned with ___
program and/or organizational governance
Start at: 2.3 FUNCTIONS ASSOCIATED WITH PROJECTS
