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APM > Project Management and Governance > Flashcards

Project Management and Governance Flashcards

1
Q

How does APM define project management?

A

Project management is the application of processes, methods, knowledge, skills and experience to achieve the project objectives.

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2
Q

Projects can mean different things to different people. What characteristics remain the same across all types of project?

A
  1. a specific start and end point
  2. specific objectives
  3. specific resources assigned to perform the work
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3
Q

What are the ‘triple constraints’ that form the ‘triangle of balance’

A
  1. Time
  2. Cost
  3. Quality

Other constraints to consider: benefits, resources, risk, health & safety

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4
Q

Define ‘constraints’

A

Time, cost, quality and other parameters

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5
Q

Define ‘outputs’

A

the project deliverables for the product/service being developed

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6
Q

Define ‘mechanisms’

A

these include the people, tools and processes that will be used to deliver the project

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7
Q

Define ‘inputs’

A

these for the business justification for the project based on the identification of a specific need, problem, or opportunity

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8
Q

Project management is the central point of integration. What are the factors that project management integrates?

A
  1. Constraints
  2. Outputs
  3. Mechanisms
  4. Inputs
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9
Q

Name some benefits of project management

A
  1. Common, consistent approach
  2. structure
  3. improved monitoring and control of activities
  4. better decision making
  5. resource management
  6. governance
  7. learning from experience
  8. communication
  9. project success
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10
Q

What are the common steps to all projects?

A
  1. Starting: stakeholders agree that initiating the phase is justified
  2. Defining: the phase and its outputs are planned
  3. Monitoring: corrective actions are applied where required, depending on how the phase is progressing
  4. Learning: experiences are shared so that next phases can be executed more smoothly
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11
Q

What are some challenges when using project management?

A
  1. Bureaucratic - the effort required to formally document justifications/plans/status is often seen as an expensive waste of time
  2. Limited creativity - some see formal processes as limiting technical vision
  3. Threat to existing organisation structure - functional managers may feel their authority/control of resources is threatened
  4. Complex inter-relationships - projects often involve several different disciplines; additional communications/interaction here can result in confusion/conflict
  5. Project management capability - individuals need to have the hard and soft skills required to successfully deliver projects
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12
Q

How does APM define ‘Project Management Method’?

A

Project Management Method is the methods and procedures that detail the standard practices to be used for managing projects throughout a life cycle. Methods provide a consistent framework within which project management is performed. Procedures cover individual aspects of project management practice and form an integral part of a method.

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13
Q

What are the contents of a formal project management method?

A

1, Project management procedures

  1. Documentation types
  2. Guidelines on application and flexibility
  3. Role definitions
  4. Governance guidelines
  5. Process inputs and outputs
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14
Q

What are the benefits of project methods?

A
  1. Consistent terminology
  2. Understanding of roles
  3. Consistent documentation
  4. Supports the development of new PMs
  5. Staff mobility
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15
Q

What are some costs associated with project methods?

A
  1. Additional bureaucracy
  2. Scalability
  3. Limits on creativity
  4. Garbage in/ garbage out
  5. Time consuming
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16
Q

Name three publicly available project management methods/best practice

A
  1. PRINCE2 - commonly referred to as the ‘best practice’ project management method
  2. Project Management Institute (PMI) Body of Knowledge - not a method, provides a framework of processes, knowledge, tools & techniques
  3. BS6079 - British Standard guidelines for efficient and effective project management
17
Q

Define ‘governance’

A

Governance is the set of policies, regulations, functions, processes, procedures and responsibilities that define the establishment, management and control of projects, programmes, and portfolios

18
Q

The Governance of Project Management is:

A
  1. The organisation’s governance controls and measures that directly relate to project management
  2. Achieved in varying degrees via a wide variety of controls and measures from organisation to organisation
  3. Needed to ensure that projects are aligned to the organisation’s objectives, including corporate governance requirements, and that they are delivered efficiently and do not adversely impact on BAU.
19
Q

Governance of project management is based around what four main components?

A
  1. Project sponsorship
  2. Disclosure and reporting
  3. Project management
  4. Portfolio direction

APM (8 decks)

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