Foundation Flashcards
Recall the six aspects of project performance to be managed.
Cost Timescales Quality Scope Benefits Risk
Recall the definition of a project and the purpose of PRINCE2
“A temporary organization that is created for the purpose of delivering one or more business products according to an agreed Business Case.”
Prince2 aims to seperate the management layer from the specialist work.
Recall the 5 characteristics of a project
Change Unique Cross Functional (Involves) Uncertainty Temporary
Recall four integrated elements of principles, themes, processes, and the project environment upon which PRINCE2 is based.
Principles: “guiding obligations and best practices” MANDATORY for a project to be PRINCE2.
Themes: “aspects of PM that must be addressed continually and in parallel throughout the project.”
Processes: “Chronological progression through project, providing a guide to recommended activities, products, and related responsibilities.
Necessary to “tailor” PRINCE2 “to the specific context of the project.”
Recall the customer/supplier context of a PRINCE2 project.
Environment in which the customer defines the requirement, pays for the project and uses the eventual products; and in which the supplier provides the required skills and know-how to create the end-products for the customer.
Recall the benefits of PRINCE2
“Established and proven best practice and governance for PM.”
Applicable to any type of project “and can easily be implemented alongside specialist, industry-specific models.”
“Widely recognized and understood.”
“Provides for explicit recognition of project responsibilities . . . There is a defined structure for accountability, delegation, authority, and communication.”
“Product focus clarifies (for all parties) what a project will deliver, why, when, by whom, and for whom.”
Meets needs of different management team levels.
Based on “management by exception.”
Ensures focus on Business Case (rather than seeing the project as an end in itself).
“Defines a thorough but economical structure of reports.”
Ensures proper representation of stakeholders.
“Promotes learning and continual improvement” in organizations.”
“Promotes consistency of project work and the ability to reuse project assets; it also facilitates staff mobility and reduces the impact of personnel changes/handovers.”
“Diagnostic tool, facilitating the assurance and assessment of project work, troubleshooting, and audits.”
Existence of accredited training, consulting, and certification organizations.
Understand the seven principles.
(1) Continued business justification.
(2) Learn from experience.
(3) Defined roles and responsibilities.
(4) Manage by stages.
(5) Manage by exception.
(6) Focus on products.
(7) Tailor to suit the project environment
Understand the characteristics of a project.
- Change
- Temporary
- Cross-functional
- Unique
- Uncertainty
Understand the difference between a project manager and project management.
A PM sets out to achieve the project objectives using aspects of project performance (TeCQuila SoBer) and the Project Plan as a baseline.
Project Management makes use of Planning, Delegating, Monitoring and Controlling to achieve a projects objectives.
Understand the difference between an output, an outcome, and a (dis)-benefit.
“An OUTPUT is any of the project’s specialist products (whether tangible or intangible).”
“An OUTCOME is the result of the change derived from using the project’s outputs.”
“A BENEFIT is the measurable improvement resulting from an outcome that is perceived as an advantage by one or more stakeholders.”
Dis-benefit - where the outcome is negative, usually the result of a side effect or a consequence.
Output -> Outcomes -> Benefit.
Understand the purpose of the Business Case theme.
“The purpose of the Business Case theme is to establish mechanisms to judge whether the project is (and remains) desirable, viable, and achievable as a means to support decision making in its (continued) investment.
Understand the purpose of a Business Case and a Benefits Review Plan.
“The Business Case is a description of the reasons for the project and the justification for its undertaking. It should provide a clear statement of the benefits that are expected from the project and the costs, risks and timescale that are entailed in achieving those benefits.” [ILX]. The Business Case enables the Project Board to judge whether the project is:
• Desirable - that the cost/benefit/risk analysis is valid,
• Viable - that the project can deliver its products, and
• Achievable - that the product can provide the benefits.” [ILX]
Benefits Review Plan - identify the benefits and most importantly, how the benefits can be measured so that it is possible to show that they have been reached
Recall the defined roles within the Organization theme.
- Executive
- Senior User
- Senior Supplier
- Project Assurance
- Change Authority
- Project Manager
- Project Support
- Team Manager
Understand the purpose of the Organization theme.
“The purpose of the Organization theme is to define and establish the project’s structure of accountability and responsibilities.”
Understand the three project interests and how these are represented within the three levels of the project management team structure.
- Business (Executive)
- User (Senior User)
- Supplier (Senior Supplier)
Represented at the Directing (Project Board) level of the project management team.
Understand the role, responsibilities and characteristics of the Project Board.
“Responsible for the overall direction and management of the project (DP) and the overall success of the project.”
“The Project Board is the overall authority for the project and is responsible for its initiation, direction, review and eventual closure.” [ILX]:
“Approve all major plans and resources. Authorize any deviation that exceeds tolerances. Approve stage completion and start of next state. Communicate with other stakeholders.”
Characteristics: Authority, Credibility, Delegation and Availability.
Understand the role, responsibilities and characteristics of the Project Manager.
Responsibile for managing a project on a day-to-day basis, on behalf of the Project Board. Ensures the project products the required products in accordance with the six performance objectives. The PM provides regular Highlight Reports for the Project Board.
Characteristics: Good communication, cost management, leadership, team-building.
Understand the role, responsibilities and characteristics of Project Assurance.
Responsible for monitoring all aspects of the project performance and products independently of the Project Manager.
3 forms:
- Business Assurance - value for money?
- User Assurance - work as expected?
- Supplier Assurance - deliver as expected?
Characteristics: Support PM, provide an independent view, are fully aware of correct standards.
NB: a MANDATORY role.
Understand the role, responsibilities and characteristics of the Change Authority.
“Responsible for agreeing to changes to the requirements or scope of the project. By default this responsibility lies with the Project Board but they may, if they wish, delegate it to another body.” [ILX]
Understand the role, responsibilities and characteristics of the Team Manager.
Responsible for producing and delivering the specialist products assigned in Work Packages by the PM and for regular status updates. They will define the responsibilities for team members and create own Team Plans. Any changes raised by the TM will be raised as issues for PM. The TM will run Checkpoint meetings to raise Checkpoint records for the PM.
NB: an OPTIONAL role.
Understand the role, responsibilities and characteristics of Project Support.
Responsible for administrative services or advice and guidance on the use of PM tools or Configuration Management. Can also supply planning or risk management.
Understand what a project stakeholder is.
Stakeholder
“Any individual, group, or organization that can affect, be affected by, or perceive itself to be affected by, an initiative (program, project, activity, risk).”
Understand the purpose of the Communication Management Strategy.
Defines the rules of engagement for how communication should be done during the project between stakeholders (internal and external). Takes place during the IP phase, reviewed during the MS phase.
Recall the recommended quality review team roles and their responsibilities.
Chair
Responsible for the overall conduct of the review.
Presenter
Introduces the product for review and and represents the producer(s) of the product. Also coordinates and tracks the work after the review, i.e. applying the changes to the product agreed by the team.
Reviewer
Reviews the product, submits questions, and confirms corrections and/or improvements.
Administrator
Provides administrative support for the chair and records the result and actions.
Understand the purpose of the Quality theme.
“To define and implement the means by which the project will create and verify products that are fit for purpose.”
ILX adds: “and satisfy the needs and expectations of the Customer.”
Provides a method to help specify Quality, tests, how to get approved and to facilitate the management of Quality during the Project.
Understand the relationship between Quality Assurance and Project Assurance.
Quality Assurance - provides a way to get an independent review of the Quality Process in a organisation.
Project Assurance - focuses on the quality in a project.
Understand the objectives of the quality review technique.
- To assess the conformity of a product which takes the form of a document (or similar item, e.g. a presentation or test results) against set criteria.
- To involve key interested parties in checking the product’s quality and in promoting wider acceptance of the product.
- To baseline the product for change control purposes.”
Understand the difference between Quality Process, Control, Standards and Quality Planning.
Quality Process - checks to see that it complies with the company Quality Standards.
Quality Standards - ensures that the quality Processes are in place.
Quality Planning - defines the products, methods, criteria, acceptance criteria and responsibilities in the QMS during IP.
Quality Control - techniques and activities to inspect and test methods to track Quality of products.
Understand the difference between Customer’s quality expectations and acceptance criteria.
- Customers quality expectations - requirements that will drive the choice of solution and, in turn, influence the time, cost, scope, risk and benefit performance targets of the project. Acknowledged in the Project Product Description.
Contains prioritized expectations, MoSCoW, Measures & tolerances.
- Acceptance criteria - prioritised list of attributes. First agreed between Customer and Supplier in SU process. AC will be baselined with the rest of the PID and can only be changed with Board Approval.
Contains prioristied attributes, MoSCow, Yes/No.
Understand the purpose of a Project Product Description, Quality Management Strategy, Product Description and Quality Register.
- Project Product Description - description of the main product that will be produced by the project. Created in the SU process, part of the Project Brief and may be refined in the Initiation Stage. Used by CP to help verify that the project has been delivered.
Contains purpose, composition, Quality Expectations, Acceptance criteria and tolerances.
- Quality Management Strategy - PM teams proposal in response to the customers quality expectations and acceptance criteria. Confirms quality standards, procedures, techniques, tools and strategy.
- Product Description - created for all products as part of planning and before Project Plan. Created in IP stage.
Contains identifier, title, purpose, composition and Quality (criteria, method, tolerance..).
- Quality Register - diary of quality events planned and undertaken. Audit and assurance information relating to what was planned and agreed (in QMS and PD’s) to the quality activities usually performed
Recall the levels of plans recommended by PRINCE2.
- Project Plans (Directing/high level)
- Stage Plans (Management/day-to-day level)
- Team Plans (Delivering/work level)
Recall four tasks ofUnderstand the purpose of the Plans theme product-based planning (iterative).
A technique “to determine and fully understand all of the products (or deliverables) which the project is to create. Having done that, it will be much easier to identify and plan the activities necessary to create them.
- Writing the Project Product Description - describe the main product
- Producing a Product Breakdown Structure - listing all products that need to be created
- Writing Product Descriptions for all identified products
- Producing a Product Flow Diagram - show product flow and inter-dependencies.
Understand the purpose of the Plans theme
“The purpose of the Plans theme is to facilitate communication and control by defining the means of delivering the products (the where and how, by whom, and estimating the when and how much).”
Understand the levels of plans, their purpose, and the interrelationship between the Project Plan, Stage Plans, Team Plans, and an Exception Plan.
Project plan: how time, cost, scope, and quality targets will be met, showing MAJOR products, activities, and required resources.
Stage Plan: More detailed, day-by-day level plan suitable for controlling one stage.
Team Plan: Produced by a Team Manager to facilitate the execution of one or more Work Packages.
Exception Plan - used to recover from the effect of tolerance deviation - to replace the current Stage Plan or Project Plan.
Understand the three types of management product: baselines, records, and reports.
“Baseline management products are those that define aspects of the project and, once approved, are subject to change control.”
“Records are dynamic management products that maintain information regarding project progress.”
“Reports are management products providing a snapshot of the status of certain aspects of the project.”
Baseline products, e.g.
Business Case
Project Plan
Records, e.g.
Issue/Risk/Quality Registers
Reports, e.g.
Checkpoint Report
End Project Report
Understand the tasks within the product-based planning technique.
A technique “to determine and fully understand all the products (or deliverables, as they are often referred to) which the project is to create. Having done that, it will be much easier to identify and plan the activities necessary to create them.” [ILX]
- Product Planning Description - Senior User - Contains purpose, composition, Quality Expectations, Acceptance Criteria and tolerances
- Product Breakdown Structure - Project product broken down into major products (hierarchy)
- Product Description - Contains identifier, title, purpose, composition and Quality (criteria, method, tolerance..)
- Product Flow - Sequence of product creation.
Recall the definition of a risk and the difference between a threat and an opportunity.
Risk: “An uncertain event or set of events that, should it occur, will have an effect on the achievement of objectives.”
“Threat is used to describe an uncertain event that could have a negative impact on objectives.”
“Opportunity is used to describe an uncertain event that could have a favorable impact on objectives.”
Recall the risk response types and whether they are used to respond to a threat or opportunity.
Threat responses
- Avoid
- Reduce
- Fallback
- Transfer
- Share
- Accept
Opportunity Responses
- Exploit
- Enhance
- Share
- Reject
Recall the difference between a risk owner and a risk actionee.
Risk Owner: “The person responsible for managing the risk (there can be only one risk owner per risk).”
Risk actionee: “The person(s) who will implement the action(s) described in the risk response. This may or may not be the same person as the risk owner.”
Understand the purpose of the Risk theme.
“The purpose of the Risk theme is to identify, assess, and control uncertainty and, as a result, improve the ability of the project to succeed.
[IAC]
Understand the five steps within the risk management procedure.
Identify (context & risks)
Context: obtain information about the project to understand objectives at risk and to formulate the Risk Management Strategy.
Risks: “To recognize the threats and opportunities that may affect the project’s objectives (in terms of cause, event and effect).”
Assess (estimate & evaluate)
Estimate: “Assess the threats and opportunities to the project in terms of their probability and impact. The risk proximity will also be of interest to gauge how quickly the risk is likely to materialize if no action were taken.”
Evaluate: “assess the net effect of all the identified threats and opportunities on a project when aggregated together.”
Plan
“To prepare specific management responses to the threats and opportunities identified . . . “
Implement
“Ensure that the planned risk responses are actioned, their effectiveness monitored, and corrective action taken where responses do not match expectations.”
Communicate
Carried out continually and “should ensure that information related to the threats and opportunities faced by the project is communicated both within the project and externally to stakeholders.”
[IAPIC]
Understand the purpose of a risk budget.
“A sum of money included within the project budget and set aside to fund specific management responses to the project’s threats and opportunities.”
Understand the probability, impact, and proximity of a risk.
Probability: likelihood of occurrence.
Impact: the quantifiable effect on project objectives.
Proximity: when the risk risk is likely to materialize.
Understand the difference between cause, event, and effect when expressing a risk.
Pattern: “Due to (cause)… there is the risk of (event)… that could result in (effect)….” [MgmtPlaza]
Risk cause: “The source of the risk . . . often referred to as risk drivers . . . the potential triggers for risk.”
Event: the thing that needs to materialize; the risk itself.
Effect: “the impact(s) that the risk would have on the project objectives should the risk materialize.”
Understand the purpose of a Risk Management Strategy.
“To describe how risk management will be embedded in the project management activities.”
“A strategy describing the goals of applying risk management, as well as the procedure that will be adopted, roles and responsibilities, risk tolerances, the timing of risk management interventions, the tools and technique that will be used, and the reporting requirements.”
Understand the purpose of a Risk Register.
“A record of identified risks relating to an initiative, including their status and history.”
“The purpose of the Risk Register is to capture and maintain information on all of the identified threats and opportunities relating to the project.”
Understand the concept of risk appetite/tolerances.
Risk appetite: “An organization’s unique attitude towards risk taking that in turn dictates the amount of risk that it considers is acceptable.”
Risk tolerance: “The threshold levels of risk exposure which, when exceeded, will trigger an Exception Report to bring the situation to the attention of the Project Board.”
Recall the three types of issue.
Request for change: “a proposal for change to a baseline.”
Off-specification: “something that should be provided by the project, but current is not (or is forecast not to be) provided. This might be a missing product or a product not meeting its specification.”
Problem/concern: “Any other issue that the Project Manager needs to resolve or escalate.”
Five typical activities of a configuration management procedure.
Planning - to what level do we do Change Management, at the Starting Up a Project phase.
Identification - Coding systems to provide each product with a unique identifier
Control - controlling changes during a project, to ensure no change without authorisation
Status Accounting - reporting all current and historical data for each product
Verification and Audit - all products are in line with the data in Configuration Items Records
Understand the purpose of the Change theme.
“To identify, assess, and control any potential and approved changes to the baseline.”
Understand the purpose of a change budget and Change Authority.
Change budget: “The sum of money that the customer and supplier agree will be used to fund the cost of request for change, and possibly also their analysis costs.”
Change Authority: Optional group appointed by the Project Board “to review and approve requests for change and off-specifications.”
Understand the purpose of a Configuration Management Strategy.
“Used to identify how, and by whom, the project’s products will be controlled and protected.”. Also determines how the issues and changes will be handled
