No.1 Flashcards
What is a project
A project is a planned temporary endeavour undertaken to create an unique product or service or other complete and definite outcome (deliverable) with a limited time scale and budget
Temporary v unique projects
Temporary project has a definite beginning and end and is usually divided into phases
Unique is different in some distinguishing way eg deliverables produced, stakeholder influences, resources used etc…
Why do projects fails
Standard sources of failure:
Organisational issues(attitudes, practices and structure) Poor identification and management of needs and requirements
Poor planning and control
Value creation framework
Value creation framework.
Strategy (identify) > opportunity (select) projects (contribute) > benefits
Project darts and ends
Project starts when the project is mandated
Project ends when the project deliverables has been accepted or if project has been prematurely terminated therefore all project documentation is delivered and all closure activities have been completed
Pbo value chain : 3 segments
Directing activities = strategic, marketing, technology management etc
Primary activities = pre project, project execution, hand over etc
Support activities = project support management, procurement management, financial management etc
Project priority matrix
Project priority matrix
One links to cost time quality
Constrain (fixed). Quality
Enhance (optimise) cost
Accept (trade off) time
Three dimensions of project management
Three dimensions of project management are cost time and quality
Quality = realised performance / expectations
Project quality framework
Project quality framework consists of;
Realising the product:
Expectations requirements
Quality of deliverable fit for purpose
Project life cycle phases
Investigation = was it done before, what are the risks, boundaries etc
Need idea task opportunity
Definiton = is approved proposal scoped planned communicated with
Proposal to management / sponsor
Mobilisation = officially launched, formal kick off, project infrastructure etc
Project plan of execution
Implementation = project scope is managed with budgetary time and operational constraints
Functional project plan
Close out= all projects must be formally stopped
Project phase and stage characteristics
Marked by completion of deliverables
Review to decide on continuation and to detect and correct errors cost effectively
Stakeholders
Project stakeholders are people or organisations who are affected have influence or interest in businesS.
Need to be delivering value, managing relationships and managing risk
Project charter
Project charter is a document that formally authorises a project.
Issued by manager or executive
For project under contract the signed an approved contract could serve as a project charter
Should include; objectives, p or s descriptions, benefits, assigned responsibilities
Project scope
Project scope is a document that defines the contractural obligation. It confirms or develops a common understanding of the project scope among all stakeholders.
It includes:
Projects justification, deliverables, stakeholder acceptance requirements
Scope must be smart
Typical problems of one are:
Omissions
Contradictories
Ambiguities
Product breakdown structure PBS
Product breakdown structure is a breakdown of the projects major products, outputs or deliverables
