PMBOK-7 Chapter 2 - A System for Value Delivery Flashcards
2.1 Creating Value: What does the term… ORGANIZATION … represent?
The standard uses the term organization when referring to:
* government agencies,
* enterprises,
* contractual arrangements,
* joint ventures,
* and other arrangements.
Organizations create value for stakeholders
2.1 Creating Value: Organizations primarily create value for who?
Stakeholders
2.1 Creating Value: What are some ways that projects produce value include?
- Creating a new product, service, or result that meets the needs of customers or end users;
- Creating positive social or environmental contributions;
- Improving efficiency, productivity, effectiveness, or responsiveness;
- Enabling the changes needed to facilitate organizational transition to its desired future state;
- Sustaining benefits enabled by previous programs, projects, or business operations.
2.1 Creating Value: What are the 5 components of Value Delivery?
2.1.1 Value Delivery Systems
- Portfolios
- Programs
- Projects
- Products
- Operations
2.1 Creating Value: Value Delivery Systems are aligned to what?
2.1.1 Value Delivery Systems
Organizational Strategy
“Working together, these components (Porfolios, Programs, Projects, Products, Operations) comprise a system for delivering value that is aligned with the organization’s strategy.
2.1 Creating Value: (True / False) - Any of the projects or programs could include products.
2.1.1 Value Delivery Systems
True
2.1 Creating Value: (True / False) - Operations can directly support and influence value delivery systems.
2.1.1 Value Delivery Systems
True
“Operations can directly support and influence portfolios, programs, and projects (components of value delivery systems), as well as other business functions, such as payroll, supply chain management, and so forth.”
2.1 Creating Value: The components in a value delivery system create deliverables used to produce what?
2.1.1 Value Delivery Systems
Outcomes
“An outcome is the end result or consequence of a process or a project. Focusing on outcomes, choices,
and decisions emphasizes the long-range performance of the project.”
2.1 Creating Value: The term used to denote the end result or consequence of a process or a project is known as what?
2.1.1 Value Delivery Systems
the OUTCOME
“The outcomes create benefits, which are gains realized by the organization. Benefits, in turn, create value, which is something of worth, importance, or usefulness.”
2.1 Creating Value: Outcomes create ____,which in turn creates ____.
2.1.1 Value Delivery Systems
Benefits, Value
“The outcomes create benefits, which are gains realized by the organization. Benefits, in turn, create value, which is something of worth, importance, or usefulness.”
2.1 Creating Value: A value delivery system works most effectively when information and feedback are shared ____.
2.1.2 Information Flow
Consistently
“A value delivery system works most effectively when information and feedback are shared consistently among all components, keeping the system aligned with strategy and attuned to the environment.”
Figure 2-3
2.1 Creating Value: In Information Flow, Senior leadership shares what ( ____ ) with who ( ____ )?
2.1.2 Information Flow
Strategic Information, Portfolios
“Senior leadership shares strategic information with portfolios.”
Figure 2-3
2.1 Creating Value: In Information Flow, Portfolios share what ( ____ ) with who ( ____ )?
2.1.2 Information Flow
desired Outcomes, Programs / Projects
“Portfolios share the desired outcomes, benefits, and value with programs and projects.”
Figure 2-3
2.1 Creating Value: In Information Flow, deliverables from programs and projects are passed on to who ( ____ )?
2.1.2 Information Flow
Operations
“Deliverables from programs and projects are passed on to operations along with information on support and maintenance for the deliverables.”
Figure 2-3
2.1 Creating Value: Programs and projects provide ( ____ ) information on achieving the desired
outcomes to who ( ____ )?
2.1.2 Information Flow
Performance and Progress, Portfolios
“Programs and projects provide performance information and progress on achieving the desired
outcomes.”
Figure 2-3
2.2 Governance Systems: What ‘system’ works along side the Value Delivery System to enable smooth workflows, manage issues, and support decision making?
2.2
Governance System
“The governance system works alongside the value delivery system to enable smooth workflows,
manage issues, and support decision making.”
2.2 Governance Systems: Governance systems provide what ( ____ ) to guide activities?
2.2
A Framework of functions and processes
“Governance systems provide a framework with functions and processes that guide activities.”
