Environment

Question 1

What is the definition of the Environment?

Answer 1

A collective term for the societal and/or organisational setting of a project, programme or portfolio. Also known as context.

Question 2

What does VUCA stand for?

Answer 2

-Volatility
-Uncertainty
-Complexity
-Ambiguity

Question 3

What is VUCA used for?

Answer 3

-Assessing the Environment of the project during the Concept Phase.
-Helps a Project understand how much they feel they can predict the outcome of their actions.
-Helps a Project understand how the project should be set up. (How much it may have to adapt, how much risk is out of their control etc.)

Question 4

What does PESTLE stand for?

Answer 4

-Political
-Economic
-Sociological
-Technological
-Legal
-Environmental

Question 5

What is PESTLE used for?

Answer 5

-Assessing the Environment of the project during the Concept Phase.
-Helps a Project understand a breadth of factors that could affect their project.
-Helps identify: Stakeholders, risks, issues, opportunities, dependencies, constraints, assumptions etc.

Question 6

What are some examples of Political factors?

Answer 6

-Government stability and initiatives.
-Deregulation.
-Privatisation.
-Foreign trade regulation.
-Taxation policy.
-Global, National, Local and internal politics.

Question 7

What are some examples of Economic factors?

Answer 7

-Business cycles.
-Interest rates.
-Inflation.
-Unemployment.
-Disposable income.
-Competitors’ Pricing.
-Exchange rates.
-Raw material costs.

Question 8

What are some examples of Sociological factors?

Answer 8

-Income distribution.
-Social mobility.
-Educational and vocational qualifications.
-Attitudes to work and leisure.
-Trends.
-Culture.

Question 9

What are some examples of Technological factors?

Answer 9

-New materials and processes.
-Information and Communications technology development.
-Spending on research by government and industry.

Question 10

What are some examples of Legal factors?

Answer 10

-Health and Safety Law.
-Employment Regulations.
-Monopolies Legislation.
-Restrictions on working hours.

Question 11

What are some examples of Environmental factors?

Answer 11

-Weather.
-Pollution controls.
-Noise levels.
-Waste disposal.
-Available grants.
-Recycling policies.

Question 12

What does SWOT stand for?

Answer 12

-Strengths
-Weaknesses
-Opportunities
-Threats

Question 13

What is SWOT analysis used for?

Answer 13

-Assessing the Environment of the project during the Concept Phase.
-Helps compare organisations internal context with external factors to the project.
-Helps to give the project direction.