Learning Objective 06 - Reviews Flashcards
Understand reviews as a way of gathering information to provide an assessment on the status of a project and the ongoing viability of the work.
What is the primary purpose of conducting reviews throughout the project life cycle?
Project reviews provide an independent perspective, ensuring that important details aren’t overlooked and that the project is progressing against the original plan and specifications.
They also enable project managers to adapt to the fluid requirements of any project, including allocating (or reallocating) resources, staff and expertise.
Reviews provide an independent perspective, ensuring that important details aren’t overlooked.
What are the benefits of conducting decision gates in project reviews?
- Increases senior stakeholder involvement
- Gains agreement from project sponsor and governance board
- Ensures that the project is on track and delivering benefits outlined in the original business case
What are decision gates held
Linear: event driven and held at the end of each stage.
Iterative: time-bound and held at the end of each iteration.
What are the two benefits of conducting Benefits Reviews
- Checks that the project achieved the business benefits identified in the original business case.
- Determines and identifies actions or improvements needed to support the realisation of the benefits.
What is the purpose of audits in project management?
- Provides independent compliance assessment
- Increases stakeholder confidence
- Ensures that the project is following agreed governance and processes
When are benefits reviews typically held?
During the benefits realisation phase, typically 6-12 months after project handover
They check that the project achieved the business benefits identified in the original business case.
When are Audits held?
Regularly held by personnel independent of the project, either at a set frequency or when an issue is identified
What five factors should typically be reported on to ensure successful project outcomes?
- Progress against the schedule
- Project spend - actual against planned
- Earned value
- Audit findings and number of nonconformances
- Risks and issues
What is essential for effective decision making in project management?
Producing information and collecting data
This includes status reporting, estimating the project, and risk identification.
What may necessitate re-planning activities after a review?
Potential causes of re-planning may include:
* achieving the planned scope doesn’t meet the requirements.
* motivation and satisfaction within the project team are low.
* performance of contractors and/or relationships within the supply chain are poor.
* committed costs and cash flow exceed original forecasts.
* changes to the risk profile and/or impact on time and cost contingency are needed due to newly identified, or changed, risks.
* communication with stakeholders is ineffective.
What are two benefits of decision gates?
- Increases senior stakeholder involvement.
- Gains agreement from project sponsor and governance board.
- Ensures that the project is on track and delivering benefits outlined in original business case.
What should be included in a project review report?
- progress against the schedule
- project spend - actual against planned
- earned value - tracking project spend and understanding the value of the work achieved
- audit findings and number of nonconformances
- risks and issues
List two reasons why activities may need to be re-planned after a project review.
- achieving the planned scope doesn’t meet the requirements
- motivation and satisfaction within the project team are low
- performance of contractors and/or relationships within the supply chain are poor
- committed costs and cash flow exceed original forecasts
- changes to the risk profile and/or impact on time and cost contingency are needed due to newly identified, or changed, risks
- communication with stakeholders is ineffective
