Learning Outcome 3 Flashcards
3.1 What is the difference between projects and business-as-usual?
Purpose: achieve objectives then terminate vs sustain org to achieve business purpose
Timescale: temporary with end point vs ongoing with no end point
Outcome: unique product or service vs repetitive products or services
People: temporary teams across org boundaries vs teams formed within org structure
Management: dedicated manager for duration but maybe no lone management authority vs long term formal management
3.2 Differentiate between project management, programme management and portfolio management
Project: defined end point, outputs (e.g. building)
Programme: mixture of projects and BAU, delivers outcomes (e.g. reducing cost of office to enhance profits). Outputs are the tangible products delivered, outcomes are the change in circumstances or behaviour resulting from the use of the output.
Portfolio: prioritisation and organisation of programmes and projects to meet strategic objectives (e.g. increasing stock price)
Increasingly complex often but grey areas
3.3 What is the relationship between programmes, projects and strategic change?
Projects deliver outputs, programmes include projects, BAU and change management to deliver change. These are prioritised and organised by SMT as part of portfolio management.
3.4 Describe where programme management may be appropriate
Where you want:
- more effective delivery of change (interdependencies, less adverse effects on BAU)
- Increased responsiveness to strategic objectives (synergies)
- More effective management of resources
- Better management of risk (economies of scale)
- More efficient coordination and control (uniform processes)
- Increased focus on strategic objectives
AND where there are complex, multi-faceted changes to make
3.5 Describe where portfolio management may be appropriate
Where:
- there is a need for alignment with business objectives, strategy (assurance needed)
- where financial controls need to be applied
- there is need for discrimination between projects and BAU
- verification is needed that activities meet business capabilities
- sustainable engagement with suppliers is needed
- evidence of engagement with customers is needed
3.6 Explain tools and techniques that can be used to determine the factors that influence and impact projects
SWOT, PESTLE, VUCA
SWOT - strengths, weaknesses, opportunities, threats - comparative analysis tool to compare the different factor that might influence different ways of working. Systematically understanding each project option. Can be powerful to uncovering opportunities and threats that might not have been considered at first glance.
PESTLE - political, economic, social, technological, legal, environmental - used to analyse the factors that might influence one project in depth, environmental analysis, shows robust analysis of preferred option
VUCA - volatility, uncertainty, complexity, ambiguity - higher level environmental factors - not only project but org. Use VUCA in uncertain world to understand inherent uncertainty. Gives a perspective based in reality. Can categorise risks in each of these areas.
3.7 Explain the impact of the legal and regulatory environment on projects
- Project manager is not an expert but must understand general landscape and who to ask
- Working Conditions (employment law, training, hours, salary, breaks, compliance)
- Management of risk in the workplace (health and safety, health and safety environmental management plan in project outlines all duties required for compliance)
- Governance (sponsor accountable for good governance, PM needs to report on this to the sponsor, informed decisions about whether the business case can be delivered, governance framework required in the organisation, effects management approach)
- Sustainability (balancing environmental, social, economic and admin aspects of project to meet stakeholder needs, key in procurement, for example
