Projects Flashcards
What are the stages in a project?
Initital appraisal - SPURS Financial Appraisal - NPV/IRR/PP/DPP/WACC Identify risks - DR RUB Risk register - PNE FC PB Mitigation on risk register - FAT SIR Investment Submission - FIRM PEN Final decision - LAND HO Project management - PROJECT CRAMPS Written strategy - PROSE Completion on time/in budget/well done Handover to the Project Owner
What needs to be satisfied in initial appraisal, as well as SPURS?
Environmental constrainsts Ethical advantages Alternatives weighed up Diversification Downside risk Good of locals
When doing the financial testing e.g. NPV, what else must be done
Sensitivity tests
Why do a high level risk analysis?
If too high risk, might not be worth continuing?
What 4 things do we need to make sure is in a risk register?
Freq/sev/correlation/mitigation options
What order do we identify risks?
Risk Anal Risk register Upside as well as downside Brainstorm Desktop analysis
Explain a desktop analysis?
Suplement brainstorm Identify further risks Identify further mitigation options Further discussion with experts Research similar projects
Explain brainstorming?
Use senior internal/external people
Use project experts who are used to this type
Identify project risks
Identifies upside/downside potential of project
Finds an inital frequency/sevirty and correlation on risks
Generate inital mitigation options and discuss
What makes a good leader?
Strong Experienced Establish direction Motivators Supportive Organiser Drive project forwards
What are the project management process steps?
Definition of project Planning process Monitoring progress Risk analysis PROJECT CRAMPS
