L2 Flashcards
The main Reason why a project fails:
projects don’t happen in isolation, they happen in an environment.
Stakeholders are the main cause of project failure. Trying to consider/deliver all their contradictory requirements.
What are the environments of a project?
Internal (in organisation, MODeST model)
External (PESTEL model)
What does PESTEL stand for?
(It’s for considering risk factors)
Political
Economical
Social
Technological
Environmental
Legal
What is the MODeST model?
(Internal factors to consider)
- Mission (paintBN = clear, firstT = fuzzy)
- Organisation (time zones, location)
- Delivery (finite resources to use)
e - Stakeholders (want different things)
- Team (skills, motivate without fire/hire)
What does CEO do?
Come up with the vision
What does senior management do?
They take the CEOs vision/mission statement, and develop a strategy to achieve it. They do competitive analysis. Come up with criteria.
What does portfolio management do?
- Looks at capacity/capability of the company
- chooses subset of projects for the company to do (from those given by senior management).
- Could choose subset using financial selection criteria e.g. payback period, or sustainability, mission alignment…
What does the programme manager do?
- Ensure portfolio project objectives are achieved.
- Set priorities for resource allocation.
- Creating synergy between projects so their value is bigger than the sum of their parts. (Eg phone line built in middle of road).
What’s a chain of projects?
They have an order they must follow, project 1 must finish before 2 can begin.
What is a portfolio of projects?
They are independent projects with nothing to be coordinated. Still important bc there might be financial priorities etc to choose order of projects.
What is a network of projects?
The projects can start independently but at some point they need integrating e.g. phone with software + hardware.
Who does the project board consist of and briefly what do they do?
Consists of:
Senior user + supplier
Exec/senior responsible owner
Project sponsor
- they speak to tech advisory group
They are between prog management and proj. manager.
They provide supervision.
What does project assurance do?
An independent party providing supervision to a project.
They report to key stakeholders e.g. client or government.
What are the 2 external parties that support a project?
Technical advisory group
Project assurance
What does the PMO do?
(Project management office)
Develop capabilities (+PM skills)
Monitor/control (PMs report to them)
Multi-project (Program manag. sit in PMO)
Strategy
Organisational learning (4th D, develop)
Who determines the project scope?
Project manager etc
Government (legal)
Stakeholders opinions
…anyone affected by a project
What is a stakeholder?
Any individual or group with an interest in the project process or outcome.
What are the 3 kinds of stakeholders?
Internal team
Core externals
Rest of the world
What are 4 internal stakeholders?
PM + team
Senior management
Sponsor, PMO
Line management
What are 8 external stakeholders?
Client
Customers
Suppliers
Government
Press/media
Communities, NGOs
Creditors
Society
How to approach stakeholder conflicts?
- Focus on profits
- consider social/environmental/standards.
- Then have side projects e.g. renewables
