Project, Programme and Portfolio Management Flashcards
Project Characterstics
Unique - haven’t done it before
Delivers change - into an organisation or environment
Temporary - nature
Uses people
With different skills - for a short period of times
Defined budget & Defined objectives- to deliver certain outputs on time to the required standard within the budget
Carries risk - isn’t something we do on a regular basis
The outputs delivered by the project leads to ______
benefits
Project Definition - 6
Scope , Cost, Time, Risk, Quality and Benefits
What do projects manage ?
Change - projects relate to unique endeavours which bring about a significant change in the business
What does BAU manage ?
A repetitive process - improving quality and focuses on continuous improvement
Is a project risk aware or risk averse?
Risk aware
Is BAU risk averse or risk aware ?
Risk averse - the BAU process is developed to eliminate risk wherever possible
A project manager is tasked with ?
Delivering a project within the constraints of time and cost
A project is delivered to ?
Specific standards
A BAU manager is focused on
Optimising time and reducing cost
Embedded PMO resides ?
Resides within in the project
Central PMO is located ?
Located separately from the project and provides support to several projects and programmes
Hub and Spoke PMO
Hybrid PMO - Some functions are held separately and some within the project
The three type of PMOs
Embedded
Central
Hub and spoke (hybrid)
Product owner is responsible for
Guiding the direction of the project & and ranking the work based on it’s business value
Product owner is found in ?
Agile projects and may also act as the project manager
In a agile environment a product owner is responsible for ?
Creating the product backlog
A product owner works with the _____ and the ______to ______
Works with the team and the customer to define the product direction
A product owner provides _____ & sets the direction for the next piece of ________
Feedback on the product and sets direction for the next piece of functionality to be developed
Project Management Office - 5
Project administration, a centre of excellence , standard & Guidelines , configuration management, and is the functional home of the PM
A project has a set budget and objectives to ?
To deliver certain outputs on time to the required set standard within the budget
Project governance / steering group is chaired by ?
The project sponsor
The project governance / steer group provides _____ and ensure the project is going in the the ________
a steer and ensure the project is going in the right strategic direction
The project governance / steer group is made up of
Key stakeholders in the project
Project governance / steering group - decide ?
Which is the best option for the business the PMs provide the option
The project governance / steering group along with the project sponsor
Resolve issues
The project manager reports to the
Steering group
The project manager is responsible for
Planning the project with the team , allocating work , reviewing progress , taking corrective action and reporting to the customer
The project team provides _____takes ______ and often
Specialist skills required to do the work, takes direction from the project manager and is often brought in from outside organisations
A project sponsor ____
Fund the projects
A project sponsor is concerned
With the expected benefits
A project sponsor owns
The projects business case
A project sponsor is usually concerned with _______ and ______ and works closely with the user_________
Business benefits and the value for money and work closely with the user representatives
The customer
Represents the person or group who wants the work completed
The customers primary concern is
What the product will do and how it will work
The customer is the
Person or group who will use the product
A programme is a
Collection of projects that link together
A programme is often associated with
Major changes over a long period of time
A programme is based on _____ and a key part of programme activity is to
A strategic vision
Ensure outputs of the project are used to create outcomes and benefits
Portfolio management is concerned with
Ensuring the organisation has the right mix of projects and programmes and that they contribute to the business strategy
Portfolio management ensures that the
Day to day business of the organisation continues whilst the programme and project are being delivered
A project produces _______ the business uses the ______ to create a new ________ which = _______BAU uses the ______ to create ______ and _____
Outputs
Outputs
A new way of operating
Outcomes
Outputs
Outcomes & benefits
Project are undertaken to bring about ____ and planned _____ which can be defined in terms of ______, ______ or _______
Change
Objectives
Outputs , outcomes or benefits
A project is deemed as an success if it achieves the ______ according to its _______ normally within an agreed ____ and _____
Objectives
Acceptance criteria
Timescale and budget
The term BAU refers to ?
An organisations normal day-day operations
BAU can also be referred to as
Steady state
PURPOSE : A project achieves _____ and ______. BAU sustains the organisation to achieve its ______ and ______
It’s objectives and terminates
Business purpose and goals
TIMESCALE: a project timescale is ______ and _______ in nature and has a pre defined ______ and ______. BAUs timescale is ______ with no defined ________
Limited and temporary in nature
Start and end point
Ongoing with no defined endpoint
OUTCOME: project outcome is a unique _____ or _____. BAUs is outcome is a non unique ____, _____ or ______
Product or service
Product , service or result
PEOPLE: projects use temporary ______ formed across __________to meet project
needs and may not be aligned with ______. BAUs teams are formed within _________and are aligned to suit functional ________
Teams
Organisational boundaries
Organisational structure
Organisational structure
Demands
MANAGEMENT: projects have a dedicated manager appointed for the __________and may not have a direct line of authority over the _______. BAU has a long term formal ______and has direct line of authority over __________
Duration of the project only
Project team
Management
Functional unit personnel
Typically a project objective is to deliver ?
Examples ———
Outputs
Software solution , a building , a process or a service
The project team transition ______ to an external or internal ________ to deliver
The desired ______ & __________
Outputs
Client
Outcome and benefits
BAU uses the product of the project to ?
Realise benefits
All projects trade the triple constraint of ______, _______ and ______ in achieving the defined ___ of the project within the defined ________
Time , quality and cost
Scope
Tolerance risk
Project managers must understand the relative priorities of ____, ____ and ____ as an important part of the decision as to which ______ approach will best suit.
Time , cost and quality
Lifecycle
Project , programme and portfolio management is concerned with managing ______ to achieve objectives.
Discrete packages of work
Objectives may be expressed
In terms of-
- Outputs (new HQ Building)
- Outcomes ( staff being relocated from multiple locations to the new HQ)
- Benefits ( reduced travel and facilities management costs)
- strategic objectives ( doubling the company’s share price in three years)
Work of a lesser scale and complexity leading to an output =
Project
Work that combines projects with change management to deliver benefits =
Programme
A collection of project and programmes designed to achieve strategic objectives
Portfolio
Project leads to an
Output
Programme combines projects
With change management to deliver
Benefits
Portfolios are a combination projects and programmes designed to achieve
Strategic objectives
Strategy implementation is delivered through the execution of strategic ________ and _______ and the realisation of their targeted ______
Projects and programmes
Benefits
Programme are undertaken to achieve
Beneficial change
The need for significant ______ will be consistent with an organisations ______ and programmes will help to deliver ______ of that ______
Improvement
Strategy
Elements of that stategy
Portfolio management is mainly
focused on the ______ and ________ of _______ and ______ within the capacity to _______
Selection and prioritisation
Projects and programmes
Deliver
Programme management then focuses on the ________ of ______ and _______ with particular emphasis on the achievement of _____
Coordination of projects and BAU
Beneficial change
The project work is concerned with the ability to enact the organisation ________ by enabling ________ to be realised so that the intended ______ can be accrued.
Strategy
Benefits
Value
Project could be part of a _____ or directly
Part of a _________
Programme
Portfolio
Project could also be delivered as a single ______ by the host organisation because there is no ______ in them being part
of a ______ or ________ but they are still required to be delivered to _____ the organisations _______
Entities
Advantage
Portfolio or programme
Fulfil
Strategic objectives
Programme management may be appropriate if the organisation wishes to achieve :
More effective management of resources
More effective delivery of change
Increased responsiveness to strategic initiatives
Increased focus on obtaining strategic benefits
PROGRAMME : more effective delivery of change
Programme management allows for project interdependencies to be managed to greater affect allowing them to have the greatest change of delivering their benefits without adverse affect on BAU.
PROGRAMME: more effective management of resources
Programme management ensures that resource conflicts within individual projects are managed at programme level
Ensuring that those projects that are priority get first call on resources to maximise benefits realisation within BAU through prioritisation and project integration .
PROGRAMME : increased focus on obtaining strategic benefits
Programmes allows project to be directed into BAU in combined way that’s has the best chance of achieving any benefit synergies that may not be apparent if projects we delivered singly
Outside the programme and this is because they have an insight into the strategic goals and needs of the organisation
PROGRAMME: increase responsiveness to strategic initiatives
Programmes fill the gaps between strategies and Business cases and Projects due to the programme level view which looks for synergies between individual project business cases in order to yield
a greater return from project as a programme rather than if each project has been delivered independently
Portfolio management is used to ____ , ____ and _____ an organisations programme and projects in line with its ______ and capacity to _____
Select , control and prioritise
Strategic objectives and capacity to deliver.
The goal of portfolio management is to balance the implementation of ________ and the maintenance _________ whilst
Optimising return _____
Change initiatives
BAU
On investment
Portfolio management is appropriate where there is a need for for an organisations programmes and projects to be more aligned with its key _______
Business objectives
Portfolio management is appropriate to provide ____ that projects and programmes are consistent with organisations existing _____ and _____
Capacity and capabilities
Portfolio management is appropriate where there is a need for the organisation to ______ correctly between activities that should be _____ as projects and other activities that should be managed as _______ operations
Discriminative
Managed
Non- project
Applying portfolio management allows organisations use the must appropriate ______ to achieve the best results with the least amount of _______
Resource
Wasted efforts
Portfolio management allows the organisation to make the best ______ using ______ that is clear and representative of the true potential _____ of key business _____
Decision
Information
Effect
drivers
Portfolio management allows the organisation to drive ________ for change by adopting high level ______ view of their business and how it must react to change.
Priorities
Whole picture
deliver the project to ____ , ____ and ___/______ priorities
Time , cost quality/performance
Project mangers make _____ decisions to ensure _____ success
Timely
Project
Project mangers mange _____ and ______ expectations
Sponsor and user
Project manger ensure that ______ packages are _____ and the ______ identified
Work
Allocated
Responsibilities
Project mangers ______ and ______ project progress
Monitor
Control
Project manager ___ and _____ the project through the creation of
Define
Plan
Project management plan
Project manager ____ with the project sponsor , ______ them of ______ and ______ direction when necessary to aid success
Communicate
Informing
Progress
Seeking
Project managers keep the project sponsor and senior management informed of ___/_____/______
Problems/progress/issues
Project managers initiate ____ and assist the sponsor in the _____ to terminate the project of justified
Reviews
Decision
Project managers _____ and act as the ___________ with the team members , other organisation, contractors , supplier and operation representatives etc
Communicate
Prime point of contact
Project sponsor is considered as the _______ risk taker and ultimate _____ and overall ______ for the project
Primary
Accountability
Responsibility
The project sponsor is responsible for ________ the relative priority of time cost and quality
Determining
The project sponsor is responsible for _____ the project and making sure the project manager is _____
Initiating
Appointed
The project sponsor is responsible for _____ and _____ ownership of the business case
Developing and maintaining
The project sponsor is responsible for _____ the project environment and _____ the business case at ____ reviews
Monitoring
Reviewing
Gate
The project sponsor is responsible for monitoring ______ project progress and making _____ decisions when necessary and when _____ by the project
Manager
High level
Control
Escalated
Users are responsible for _____ ______ _____ and for ______ and _____ the _______ to achieve the defined benefits
Specifying operational requirement
Accepting and operating the deliverable
Users assist the project manager with _____/_______
Handover/acceptance
Users inform the project manager of any ____ ______ that may _____ delivery
Operational changes
Influence
Users identify ____ and _____
Constraints and dependencies
Users provide ________ and ______ through a user _______ or senior ____ as part of the steering group structure
Practical assistance and guidance
Representative
User
Project teams members may stay with the project ______ of may join the team to ______
Throughout the project lifestyle
Carry out a specific task
The primary role of the project team is to _____ the project manager in _____ the project to meet its _______ by providing the combined _____ to allow the project _____ and ____ to be correctly identified and achieved
Support
Managing
Objectives
expertise
Objectives and scope
The project team manages _____ with stakeholders as assigned in the ______
Communication
Communication plan
The project team report ______ of their ______ tasks in a _________ manner
Progress
Assigned
Timely
The project team contribute to the ________ of the project in all _____ and ____
Evaluation
Stages
Reviews
The project team act as a ____ owner and effectively manage ______ within their area of expertise
Risk
Risks
The membership of the steering group is often determined by the _________ who normally chairs the group and may consists of ……..
Project sponsor
Representatives from the user population, representatives from selected key stakeholders, the organisations business units managers / owners
The project manager is not a member of the _______ but is _____ by the ______ to ensure the work of the project is undertaken as agreed
Steering group
‘Contracted’
Steering group
The project manager would normally attend steering group meetings to ?
Answer Any questions raised by members
The steering group keep the project _______ under control as emergent issues may force changes to be considers
Scope
The steering group address any ________ that have been ______ by the project manager and assess any major ______ for the project
Issues
Escalated
Implications
The steering group provides those directly involved with the project with _______ on the project business issues
Strategic guidance
The product owners main contribution is to ?
Lead the focus on product development
Product owners are part of an agile _____, they have strong ______ and deep knowledge of stake holders need and can as an _______ between stakeholders and those teams delivering the project.
Sooo arch
Expertise
Intermediary
Product owners act as an _______ for ___ or ______ projects
Onsite customer
For iterative or agile projects
Product owners define _____ and create _____ for the _______ of the project outputs
Goals
Vision
Operability
Product owners evaluate _____ providing ____ to the team on delivery performance and advising if ______ is feasible
Progress
Feedback
Continuation is feasible
PMO provide services such as :
Controls and reporting
Assurance
Specialist support
Information management
Governance is a framework of ____ and ______ that ______ and _____ the outputs , outcomes and benefits from projects , programmes and portfolios.
Authority and accountability
Defined and controls
When correctly implemented governance provides confidence to all _____ that projects are being managed well and the the most appropriate ____ and _____ controls are being extended to ensure ray the deployment of effort has the best change of to a realisation of _____
Stakeholders
Financial and technical
Value
The governance of project management will be implanted in each individual project as a result of ?
The organisations policies.
Governance ensures that projects have a relevant business case to ________ and assess _____ and ______ feasibility
Secure funding
Initial and ongoing
Governance ensure that there is effective ____ management and ensure the effective use of _____ assurance and independent _______
Quality
Quality
Audit
Governance more effective decision making at _________ and ensure that sponsors can initiate a _______ of the project taking account of the current ______ and impact of ______
Stage gates
Review
Environment
Change
Governance ensures that there are _____ and _____ routes with clearly defined _____ and ______ which will ensure prompt _____ and _____ of risk and issues
Reporting and escalation
Roles and responsibilities
Attention and control
