Evaluating Projects Flashcards

1
Q

To what are projects linked?

A

to measuring and demonstrating results

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2
Q

on what does a good project managment practice based on?

A

to perform evaluation, which depends on the finding/results

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3
Q

what is the results of evaluation?

A

it contributed to transparency and accountability

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4
Q

what are the benefits of the evaluation process?

A

Lessons learned can be sheared more easily

Report provide a more robust for raising budget and influencing stakeholder

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5
Q

when should the project be evaluated?

A

No hard rule is available, often govered by company policies

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6
Q

What are some hints that a project needs evalaution?

A

New project
Project under execution
project closeout

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7
Q

when is a re-evaluation needed?

A

when the project appears to be in trouble or when the project produces better results than expected

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8
Q

why should project closeout be evalauted?

A

additional information e.g when the product is in the market and economic reture on investment can be assesed

Lesses learnded and best practices ca be applied to subsequent projects

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9
Q

why is the pre-project evaluation important?

A

it determines the effectiveness of the project before execution

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10
Q

Who has to be convince?

A

the stake holder in an internal project

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11
Q

What’s the main difference in the pre-project evaluation in a pharmaceutical industry and innovation department?

A

In pharma Industry one obtained a project demand (internal or customer), while in an innovation department there is a complete processes for pre-project evaluation (Cooper’s stage-gate-process)

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12
Q

Types of project are grouped by? (learn to draw it and give examples)

A

uncertainty of the project outcome and the execution of the project

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13
Q

How does a project lifecycle looks like?

A

Demand
Preparation
Execution

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14
Q

what are some project charter?

A
Project scope and dependencies
Project economics
Economic key Performance Indicators
Porject risks and mitigation
project Effort and cost
project organization
Miestone plan
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15
Q

what are Project economics?

A

Qualitative and quantitative benefits

Busines Value

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16
Q

what are Economic key Performance Indicators

A

Net present value
internal rate of reture
Payback period

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17
Q

How do you obtained the excepted commercial value (ECV)

A

NPV* probability of the project = ECV

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18
Q

what are steps in pharmaceutical project evaluation?

A
Project definition
Definition of options
Collection of data
Assumptions
Business Case
Controls
19
Q

Which steps are related to each other

A

Collection of data
Assumptions
Business Case

20
Q

Project definition

A

Define the scope, objectives and focuse

21
Q

Definition of options

A

Rate different options with regard to attractiveness

22
Q

Collection of data

A

gather data (internally and externally) that are required based to make assumptions

23
Q

Assumptions

A

evaluation collected data and formulate internal and external assumptions, test these and re-check data

24
Q

Business Case

A

present business case, re-define it in case project can avoid risk or add more value

25
Controls
conduct monitoring measures
26
Which are the various sources to collete data
production costs/ analysis of sales force based on own data by business intelligence, from competitos
27
what includes in the definition of assumptions? | (go through the examples)
the debate with stakeholders
28
on what is the define mitigation based on?
on the ranking of the ris
29
draw the prorization of assumption using risk matrix
do you know it?
30
Check the example on slide 23
Have you done so?
31
What is the importance of the ongoing evalution?
to make sure that project is proceeding as planned monitoring and reporting should be condcuted consistently project metrics should be calculated to measure the success
32
Which topics are addressed in the decision tree analysis?
Approach bulids a graphic representation of the decisions Alternative outcomes are represented having the same chance shows main outcomes itemized
33
why is decision tree anaylsis important in a pharma industry?
focues on the activites that are essential for sucessful development, therefore decision trees are extented up to approval
34
what are decision tree analysis used for?
is an effective tool to illustrate R&D decision points | employed to compared stragegic options
35
on what is the probabilities of uncertain elements based?
are assesed based on available knowlegde and the circumstance of the individual case
36
how can the overall probability be provided?
if milestones are composed of several independent activites
37
Intangibles and interdependencies
Various interdependencies exist and intangibles are hard to quantify
38
How can intangibles be managed?
Pharse expected goals and outcome, even if not mesureable identify possible alternative measures and use them Benchmark based on past, comparable projects Focus on indicators, which can be assessed
39
when do evaluation takes place?
prior to, within and after execution of projects
40
who set the scope of evaluation
by senior management
41
when is re-evaluation?
during entire project cycle
42
what is important when evaluating
it has to b reported to stakeholders, lack of evalaution directly falls back to project resposible
43
where should the evaluation focus
on internal and extenal enviroment
44
what is importnat during the project?
Discussion with and input from other department is mandatory throughout entire project