Section 1 - Definitions Flashcards
Project
A unique, transient endeavour undertaken to bring about change and achieve planned objectives
Success Criteria
The satisfaction of stakeholder needs for the deployment of a project.
Three Key Criteria
Time, Cost & Quality
BAU
Business as usual. This is an organisation’s normal day-to-day operations. Also referred to as ‘steady state’
Life Cycle
A framework comprising a set of distinct high-level stages required to transform an idea or concept into reality in an orderly and efficient manner. A systematic way to undertake project-based work
Four phases of the linear life cycle
- Concept
- Definition
- Deployment
- Transition
Three phases of iterative life cycle
- Feasibility - Process of evaluation at the beginning of the project
- Foundations - Where the foundations of the PMP are laid
- Evolutionary Development - Process of creating the various products
What is a Hybrid Life Cycle?
This is a mixture of linear and iterative. Offers adaptability within a more structured approach
What are the two additional phases of the extended life cycle?
- Adoption
- Benefits Realisation
What is Transition Management?
The process of managing the handover of project outputs, commissioned and accepted by the sponsor, into BAU, culminating in formal project closure
What is assurance?
The process of providing confidence to stakeholders that projects, programmes and portfolios will achieve their objectives for beneficial change
What is a decision gate?
Formal reviews usually commissioned by the sponsoring organisation as part of its governance structure
What are benefits reviews?
Thorough analysis by the business of the achievement of the stated benefits as defined in the business case
Audit
Seek to assure the organisation that the project is conforming to its stated principles and procedures and has a good chance of succeeding.
Four basic principles of reporting
- Accurate
- Relevant
- Timely
- Clearly
