it proj Flashcards
determines how much time will lapse before accrued benefits overtake accrued and continuing costs
Payback analysis
is a management approach that focuses on creating more value for customers by eliminating waste and optimizing processes.
Lean Project Portfolio Management
is a methodology that converts an organization’s value drivers—such as customer service, innovation, operational efficiency, and financial performance—to a series of defined metrics
balanced scorecard
Projects that help increase revenues
Growth
Many organizations prioritize projects as being high, medium, or low priority based on the current business environment
Project Priority
is a tool that provides a systematic process for selecting projects based on many criteria
weighted scoring model
One person or group can be responsible for similar work, such as obtaining all the permits for all the houses
Save time
The IT projects are broken down into three categories: what are those?
Venture
Growth
Core
TRUE/FALSE: The goal of project portfolio management is to help maximize business value to ensure enterprise success
TRUE
template file that is available for calculating NPV, ROI, and payback for a project.
business case financials
you can use to create the chart, if needed.
payback period chart
who developed another approach to help select and manage projects that align with business strategy
Dr. Robert Kaplan and Dr. David Norton
are chances to improve the organization
Opportunities
are undesirable situations that prevent an organization from achieving its goals - can be current or anticipated
Problems
A construction firm can purchase materials, obtain services, and hire workers for less money if it is managing the construction of one hundred houses instead of just one house
Save money
The program manager can use authority in multiple situations, such as negotiating better prices with suppliers and obtaining better services in a more timely fashion
Increase authority
Recall that a program is a group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually
Program Selection
TRUE/FALSE: Organizations should not always focus on high-priority projects
TRUE; Organizations should always focus on high-priority projects
Projects that help run the business
Core
is the amount of time it will take to recoup—in the form of net cash inflows—the total dollars invested in a project
Payback period
are new requirements or regulations imposed by management, government, or some external influence
Directives
Projects that help transform the business
Venture
TRUE/FALSE:
The shorter the payback period, the better
TRUE
Another approach to project selection is based on the time it will take to complete a project or the date by which it must be done
Project Time Frame
