Module 2 - Projects, Programmes, Portfolios

Question 1

What is a project?

Answer 1

It is something that is not done every day.

Question 2

What are the 7 key characteristics of a project?

Answer 2

• Unique
• Delivers change
• Temporary
• Uses people with different skills
• Has a budget
• Defined objectives
• Carries risk

Question 3

What things do we need to think about before, during and after a project?

Answer 3

• Time
• Quality
• Cost
• Scope
• Risk
• Benefits

SAFETY is paramount and cannot be compromised in any scenario even when the others can.

Question 4

Describe the definition difference between a project and BAU?

Answer 4

A project manages change whereas business as usual manages a repetitive process.

Question 5

What are the characteristic differences between a project and BAU?

Answer 5

• A project should deliver within the time constraint and cost constraint whereas BAU seeks to optimise time and reduce cost.
• Project looks at delivering to a specific standard whereas BAU looks at continuous improvement.
• Project managers are risk aware whereas BAU PMs are risk averse.
• Projects produce outputs (new) whereas BAU produces outcomes (using project outputs to create outcomes).

Question 6

What is the role of the customer?

Answer 6

A customer is whoever wants the work doing.

They are users of the new product/change and are concerned with how it works.

Question 7

What is the role of the project sponsor?

Answer 7

The person who funds the project.

They are concerned about the expected benefits and will own the business case. They will work closely with the customer representatives.

Question 8

What is the role of the project manager?

Answer 8

The project manager is responsible for planning the project, allocating work, reviewing progress, taking corrective action and reporting back to the customer.

Question 9

What is the role of the project team?

Answer 9

Taking direction from the manager, they possess specialist skills required to do the work.

Suppliers can also form part of the project team.

Question 10

What is the role of project governance/steering group?

Answer 10

Chaired by the project sponsor, they are responsible for making key strategic directions and solving issues.

The PM reports to them.

Question 11

What is the role of the product owner?

Answer 11

This is someone who is responsible for a product in an agile environment (iterative change) - they may also be referred to as project manager.

They are responsible for working with the product team, providing feedback and providing strategic direction.

They often have a business background and are good at defining the direction at which the product should go (liable to change in agile).

Question 12

What are the responsibilities of the project management office?

Answer 12

• Project administration (minuting meetings, travel arrangements etc)
• Being a centre of excellence (scheduling software, risk management, planning)
• Creating standards and guidelines (governance and audit)
• Configuration management (ensuring that the product does not stray away from the deliverables
• Functional home of PM (advice and support for PM)

Question 13

Where are the different locations of PMO?

Answer 13

• Embedded PMO (within the project)
• Central PMO ( located separately and provides support to several projects)
• Hub and spoke PMO ( hybrid of the two)

Question 14

What are the three types of project lifecycle?

Answer 14

• Linear (also called waterfall)
• Iterative
• Hybrid

Question 15

What are the stages of a linear lifecycle?

Answer 15

• Concept
• Definition
• Deployment
• Transition

Extended:

• Adoption
• Benefits realisation
• Operations

Extended product :

• Termination

Question 16

What does the concept phase of a linear lifecycle entail?

Answer 16

• Determining if the project is worth doing or not.

Question 17

What does the definition phase of a linear lifecycle entail?

Answer 17

• This is where the project scope and plans are developed and decided with certainty if this is viable.

Question 18

What does the deployment phase of a linear lifecycle entail?

Answer 18

This is the ‘do’ phase - where the product is built and tested.

Question 19

What does the transition phase of a linear lifecycle entail?

Answer 19

The output is handed to the customer, bills are finalised and the project is closed down.

The output is produced. `

Question 20

What do the adoption, benefits realisation and the operations phases of an extended linear lifecycle entail?

Answer 20

These are the stages that the user is involved in. They are realising the OUTCOME of the output of the project.

The lifecycle enters its termination phase once the new state is achieved and change is required.

Question 21

What are the six stages of an iterative project lifecycle?

Answer 21

• Pre project
  Only the right projects are selected - in line with the organisation’s strategy.
• Feasibility
  Making sure that the project is feasible and cost effective. This stage describes for sure whether or a project should be pursued or not.
• Foundations
  Establishing business rationale for project.
  Establish how the solution will be created.
  Understand scope of work and work plans.
• Evolutionary Development
  Solution evolves - using iterative development, timeboxing, MOSCOW and workshops.
• Solution increments building from low level requirements.
• Deployment
  Baseline of final solution given. This is again iteratively produced from version 1 to version final.
• Post project
  Project is closed but can go back to evolutionary development.

Question 22

What are the differences between a programme and a portfolio?

Answer 22

A programme is a collection of different projects that all link towards achieving an overarching strategic aim.
The outcomes of programmes will be focused on and are usually delivered over a long period of time.

A portfolio is a mix of both projects and portfolios - designed to ensure that the business meets it organisational goals and aligned with strategy. They are managed at all levels of the organisation.