Lecture 1 - Introduction to PM

Question 1

What are the stages of group development?

Answer 1

Forming, Storming, Norming, Performing and Adjourning

Question 1

Explain conflict vs performance of a group.

Answer 1

3 Levels on a bell curve
Point A: Low or none conflict, Dysfunction type of conflict, Characteristics: Unresponsive to change, lack of new ideas, stagnant, low group performance

Point B: Optimal conflict, Functional type of conflict, Characteristics: viable and innovative, high group performance

Point C: High conflict, Dysfunction type of conflict, Characteristics: disruptive and chaotic, low group performance

Question 2

Define PMBOK

Answer 2

Project Management Body of Knowledge is a body of knowledge within the profession of project management and includes knowledge of proven, tradtional practices as well as innovative knowledge and advanced practices.

Question 3

What are the 10 compentencies of Project Management

Answer 3

1. Project stakeholder management
2. Project scope management
3. Project time management
4. Project cost management
5. Project quality management
6. Project human resource management
7. Project communications management
8. Project risk management
9. Project procurement management
   10.Project integration management

Question 4

Define Project.

Answer 4

A collection of activities and tasks designed to achieve a specific but temporary goal of the organization, with specific performance or quality requirements, all the while
subject to time and cost constraints

Question 5

Define Project Management.

Answer 5

The management of project activities that lead to the successful completion and output of a project - How: planning organising, leading and controling

Question 6

Further define Project and Project Management.

Answer 6

• A scheduled solution to a problem, opportunity, business need;
• Creating a unique product or service through a temporary endeavour;
• The project manager is responsible and continually under pressure to accomplish the best possible project results

Question 7

What are the potential consequences?

Answer 7

Causes: Pollution, mining, transport, littering, sewage
Effects: Global warming, melting of ice/increase sea level, impacts on wildlife

Question 8

Define Sustainability

Answer 8

Meeting the needs of people today without compromising the ability of future generations to meet their own needs.

A company’s ability to achieve its business goals & increase long-term shareholder value by integrating economic, environmental & social opportunities into its business strategies Triple Bottom Line (TBL) approach

Question 9

What is the relationships between TBL factors?

Answer 9

Social and Environment = bearable
Social and Economic = Equitable
Environmental and Economic = Viable

Question 10

What are the sustainable business/managment views

Answer 10

The sustainable enterprise is an organic, mutually emergent system that is connected
economically, environmentally, & socially to the world

The long-term financial interests of a company are not ‘mutually exclusive’ with acting fairly in the interests of stakeholders (other than shareholders)

Views in line with TBL

Question 11

What are the indicators for measuring sustainabilty?

Answer 11

Economic sustainability – i.e. financial health, economic performance, return on investment (ROI), returnon assets (ROA), etc.

Environmental sustainability – i.e. mineral & energy resources, air, water & land resources, etc.

Social sustainability – i.e. internal HR, external population, stakeholder participation, etc.