Introducing projects- Project Management And Operating Environment Flashcards
What is a project
Unique and transient endeavour to:
bring about change
Archive a planned objective
What is a programme
A unique, transient strategic endeavour to:
Achieve beneficial change
Incorporate a group of related projects and business as usual
What is a portfolio
A collection of projects and or programmes to structure and manage investments.
Helps to optimise strategic benefits and operational efficiency
What is project management
Remember: please don’t move controls
Plan>delegate>monitor> control
PDMC
The application of processes, methods, knowledge, skills
What is the project structure criteria
Scope depends on: time, quality and cost
Think : TQC
What are the benefits of project management
-consistency
-lower risk, higher opportunity
-success equals improved culture
-success equals innovation
-stakeholder engagement improves
Describe programme management
Interdependence of component projects on each other
Top down approach
Adapt to evolutionary model
Strategic nature
Focus of programmes are on overall benefits to be achieved
Describe Portfolio management
Can be managed at organisational or functional level
Often a permanent activity
Form of governance exerted by org over its projects and programmes
Ensures selection of the right programmes and projects on assessment of risk and return
Periodic reviews with reg portfolio reporting
Consistent approach
What tool would you use to understand the context of a project?
- PESTLE (this tool can also be used to assess risk)
-political – is there a new CEO or an election etc
-economical – how is the economy doing
-sociological – who are we servicing, what are their needs, how are they changing?
-technological – is updated tech driving change?
-legal- is there new legislation or regulations?
-environmental- think climate change? Global pandemics? Anything happening round the area your servicing
what is the difference between Projects and business and usual?
Think PPOMT
Purpose - is it objective then terminate or sustained business purpose and goals
People- temporary team formed or teams formed within the org structure and aligned to suit business demands
Outcome-
Management
Timescale
what is the project success criteria
TIME>QUALITY>COST>SCOPE
What is scope?
total outputs, outcomes and benefits and the work needed to produce them
