Standards - CH2 - A System for Value Delivery Flashcards
Examples of ways that projects produce value (5)
2.1 Creating Value
- customer - new product, service or result
- community - social or environmental contributions
- organization - improving efficiency, productivity, effectiveness or responsiveness
- organization - enabling organizational changes needed to reach future state
- organization - sustaining benefits enabled by previous programs, projects, or business operations
Value Delivery Components (4)
2.1 Creating Value
- Portfolios
- Programs (can include products)
- Projects (can include products)
- Operations
- together they comprise a system (VDS) that is aligned with the company’s strategy
- create deliverables used to produce outcomes
Flow of Information (forward/3)
2.1 Creating Value
- Senior Leadership to Portfolios - Strategy
- Portfolios to Programs/Projects - Desired outcomes, benefits, value
- Programs/Projects to Operations - deliverables with support and maintenance information
Flow of Information (reverse/4)
2.1 Creating Value
- Operation to Programs/Projects - information for updates, fixes and adjustments
- Operations to Senior Leadership - Outcomes, benefits, value performance analysis
- Programs/Projects to Portfolios - performance information and progress
- Portfolios to Senior Leadership - portfolio performance information
What system works alongside the VDS to enable smooth workflows, manage issues, and support decision making?
2.2 Organizational Governance Systems
Organizational Governance System
- Oversight - Aligned with program and/or organizational governance
- Value Assessment - Provides a framework with functions and processes that guide activities towards outcomes
- Integration - Provides integrated structure for evaluating changes, issues and risks associated with the environment and any component in the VDS
- Decisions - Designs the authority to approve changes and make other business decision to the project (authority matrix)
OGS framework can include what elements? (4)
2.2 Organizational Governance Systems
- oversight, control
- value assessment
- integration among components
- decision making capabilities
What is a PMO?
2.2 Organizational Governance Systems
Project Management Office -a group, agency or department that defines and maintains the standards of project management for a company.
- Project Management Office: Provides administrative support for the project management team and standardizes the project-related management processes.
- Program Management Office: Manages the program governance process and coordinates the efforts of the program management team.
- Portfolio Management Office: The project portfolio management office oversees all the projects and programs of an organization and supports project and program management offices.
Who/What drives project delivery?
2.3 Functions Associated with Projects
People by fulfilling functions necessary for the project to run effectively and efficiently.
The needs of the project, organization and environment influence which functions are used and how functions are carried out.
Describe the different functions of providing
Oversight & Coordination
2.3 Functions Associated with Projects
- Project Management (coordination) is when an organization plans and organizes resources towards the completion of an event, a task, or a duty.
- Project oversight, on the other hand, is considered a safeguard against a project not being completed on-budget, on-time, and within specified parameters for completion. Relate to benefits realization and sustainment after the the project deliverables are finalized but before formal closure of the project.
What do stakeholders associated with
Presenting Objectives & Feedback do?
2.3 Functions Associated with Projects
People in this function contribute perspectives, insights, and clear direction from customers and end users.
Feedback frequency is determined by the nature of the project and the guidance or dierction required - adaptive, hybrid, traditional
- customer - individual or group who has requested or is funding the project
- end user - individual or group who will experience the direct use of the project deliverable
Customer vs End User?
2.3 Functions Associated with Projects
- customer - individual or group who has requested or is funding the project
- end user - individual or group who will experience the direct use of the project deliverable
What do stakeholders associated with
Facilitate & Support do?
2.3 Functions Associated with Projects
- Encourage project team member participation, collaboration, and a shared sense of responsibility for the work output
- Help the project team create consensus around solutions, resolve conflicts, and make decisions
- Coordinate meetings and contribute in an unbiased way to the advancement of project objectives
- Support people through change and helping **address obstacles **
- Evaluate performance and provide individuals and project teams
with feedback to help them learn, adapt, and improve
What do stakeholders associated with
Perform Work & Contribute Insights do?
2.3 Functions Associated with Projects
Provide the knowledge, skills, and experience necessary to produce the
products and realize the outcomes of the project
This work can extend into support functions (during or after the project) as the project deliverables are implemented or transitioned into operations
What do stakeholders associated with
Apply Expertise so?
2.3 Functions Associated with Projects
Provide the knowledge, vision, and expertise in a specific subject for
a project
What do stakeholders associated with
Business Direction & Insight
concern themselves with?
2.3 Functions Associated with Projects
People in this function guide and clarify the direction of the project or product outcome with the goal of maximizing the value of the project deliverable.
- prioritize requirements or backlog items
- proivde feedback to project teams
- set direction for the next increment of development
