Lecture 9 Flashcards
When are successful projects generally terminated?
Ahead of schedule
The success or failure of a project is often affected by the termination process of the project why?
because it has great impact on residual attitudes to the project
What is project portfolio management?
the centralized management of processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics
What is the point of a project portfolio
To aid PMs make the right decisions for the project owners and to produce a steady flow of valuable projects
The quality of a project portfolio is key to setting a PM and other staff involved up for future roles in projects, why is termination so important in the project portfolio?
- it shows that clear termination choices have been made across different projects
- Importantly deciding which staff finish and so can be moved to new projects (efficiency is key)
What is a functional Employee?
In the past a FE has been called a subordinate, they are effectively a staff member below the PM who is responsible for delivering an aspect of the project.
When is a project deemed as a success?
when the project is completed on time and budget with all features and functions as specified
When is a project deemed as challenged?
Completed but over cost/time/and or lacking all features and functions originally specified
When is a project deemed as a failure?
When the project is abandoned or cancelled at some point therefore becoming total losses
Functional employees performance is often evaluated…
at the end of a project via evaluation forms
After FE’s complete evaluation forms at the end of a project the performance measurement for that individual is then to set (3):
- future salary
- further training needed
- use of the FE within current and new projects
Key to maturing as a project manager is
- using the current project as a learning curve for new projects
- and successfully transferring skills/ experience
Front-end analysis from termination includes (4):
- identifying and addressing barriers that occurred in the project
- specific training needs that were absent/successful
- conflict management (if there were any, how were they dealt with, could this be improved in future)
- personnel allocation (is every employee best placed in their role?)
What is the purpose of the final report (2)?
- report to stakeholders
- improve future projects
The final report is focused on what?
- the project itself and
- process used to conduct the project
