Project Management Flashcards
A project can be identified by the these factors.
- Specific Objective
- Defined start and end date
- Will consume resources (people, money etc)
-Be a onetime activity - Be confined to restraints
- Rqeuires organisation from start to finish
What are the 5 stages of a project
- Initiation
- Planning
3.Execution - Control
- Completion
What are the reasons for BoD’s demanding a strong business case for a project?
- To obtain funding
- To improve planning
- To improve project management
- To compete with other projects for a share of resources
What are the contents of the business case that would be put forward?
- The current strategic position -
- Risks that may arise -
- An assessment of the benefits and costs of performing the project -
Project benefits include strategeic, mangment, operations and intangible benefits. The benefits should be classified on the following scale:
Observable
Measureable
Quantifiable
Financial
What will project costs typically include?
Capital investment
Resource Utilisation
Development
External consultancy costs
Quality costs
Flexibility costs
Disruption costs
What is a Project plan?
What needs to be done
Who needs to do it
How long it will take
How much will it cost?
The plan record is a project initation document. What are the typical contents?
- A purpose statement
- Project and investment objectives
- A scope statement
- Project deliverables
- Cost and time estimates
- Benefits and change owners
- Chain of command
- Team responsbilities
- Project gateways, performances measures and results.
Project execution:
What is the role of a project sponsor?
Makes yes/no decisions
Provides resources
Appoints a project manager
Monitors the progress
Execution:
What is the role of the project manager?
Responsible for successful delivery of the project:
- Team leader
- Planner co-ordinator
- Task manager
- Communicator
- Problem solver
- Monitor of change
- Budget manager
- Meeting manager
Why do some projects fail?
- Time/resource estimates unrealistic
- Objectives not clearly defined
- Poor communication/ leadership skills
- Objectives change during project
- No strong support for Senior management
- Stakeholders not taking ownership
- Role and responsbility not defined clearly
- Resources not identified or made availalble at start
- Team did not work as a team.
What are the elements of the Project Monitoring and Control stage?
- Setting targets
- Assessing performance against these targets
- Taking appropriate action where necessary
Give some examples of corrective actions at the project monitoring and control stage?
Fast tracking
Crashing
Adding resources
Scope reduction
Employee motivation
More efficient approaches
Completion/ Closure: What activities would a post project review include?
File documents
Final payments
Review objectives and if they were met
Team integrated back into normal roles
Deliver the project to users.
What activities are completed in a post implementation review (PIR)
- Cost benefit analysis
- Areas for further development
- Stakeholder satisfaction
- Business case objectives
