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APM PMQ > LO3 Situational Context > Flashcards

LO3 Situational Context Flashcards

1
Q

3 differences between projects and BAU

A
  1. Level of risk
  2. Products vs benefits
  3. Temporary vs permanent
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2
Q

4 reasons to use a programme to deliver strategic change

A
  1. Where a number of projects and BAU activities are required to deliver strategic change.
  2. A number of projects contribute to single vision of change.
  3. Coordination of resources (single pool of resource) - changes staggered over time.
  4. Significant interdependencies between projects
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3
Q

PESTLE

A

Political
Environmental
Sociological
Technological
Legal
Economic

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4
Q

Political Factors

A

External influences, conditions and decisions.
E.g. government stability, government policy.
Enables right decisions (initiating and running projects)

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5
Q

Environmental Factors

A

Effect environment has on project, and environmental impact.
E.g. noise, emissions, carbon footprint, waste, impact on biodiversity.
Compliance and targets will impact project (inc. time and cost)

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6
Q

Legal Factors

A

Changes in law can affect outputs / products and processes.
E.g. H&S - restrictions on working practices.
Potential infringement of law if not properly understood.
Can vary between countries.

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7
Q

VUCA

A

Volatility
Uncertainty
Complexity
Ambiguity

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8
Q

Ambiguity

A

Situations, events and information can be interpreted in different ways.
Mixed messages, conflict of interest, inability to assess the situation.
Information is available but unable to assess meaning = poor decision-making.
Good stakeholder analysis, robust risk assessment, and programme / portfolio view help.

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9
Q

Complexity

A

Situations more complex than initially understood.
Breaking down a complex problem can aid understanding e.g. stakeholder map.
Critical to project success and benefit realisation.

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10
Q

Volatility

A

Volatility can be used to assess factors that may change quickly and unpredictably and affect a project.
These are factors related to the environment in which the project exists / operates.
Examples are politics, the economy, social conditions.
The risk process should have contingency plans in place to deal with volatile situations if it is assessed that these may influence a project.
Projects may need to be delayed until a volatile situation has passed.

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11
Q

3 ways failure to comply with the law can impact a project.

A
  1. Compromised working conditions
  2. Cost of compliance / non-compliance
  3. Stakeholder disengagement and fines (data protection)
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12
Q

2 situations where portfolio management may be appropriate

A
  1. Better resource utilisation across the organisation
  2. Ongoing viability of projects
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13
Q

SWOT

A

Strengths
Weaknesses
Opportunities
Threats

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14
Q

2 ways SWOT can be used to assess project context

A
  1. It helps understand the current situation
  2. It helps understand the potential situation
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15
Q

Governance

A

Governance framework includes processes project needs to follow.
E.g. change control, escalation, quality standards.
Additional costs / delays.
Stakeholder confidence that project is being managed in a compliant manner.

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16
Q

Sustainability

A

Environmental, social, economic
Could reduce competition / increase costs.
Positive image.

17
Q

Working conditions

A

Costs and benefits.
Compliance = time, money, and how work is carried out.
Reduced accidents, sick leave, improved morale and motivation and reduced risk of external agency intervention.

18
Q

Project Management

A

All the Ps
Plans the project
People Management
Progress (track and report)
Problems
Products

19
Q

Programme Management

A

Co-ordinate projects
Holistic risk
Priorities projects
Speed-up / slow down, start / stop projects
Benefits focused
Strategic change

20
Q

Portfolio Management

A

All projects and programmes
Strategic risk awareness
Balance resource supply / demand
Governance
Align to business strategy
Speed-up / slow down, start / stop programmes

21
Q

3 ways PESTLE can be used to assess project context.

A
  1. Set of prompts in a brainstorm / workshop
  2. Helps analyse economic factors
  3. Helps ensure legal factors are analysed.

APM PMQ (12 decks)

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