Terminology (M1)

Question 1

Definition of Project

Answer 1

A project is a unique, transient endeavour taken to bring change and achieve planned objectives.

Question 2

Project Characteristics

Answer 2

Unique, Temporary, Creates Deliverable’s, Change, Uncertainty/Risk, Transient Resources, Constrained

Question 3

Iron Triangle (and the additional constraints)

Answer 3

Time, Quality, Cost (risk, legislation, HSSE, resource, capacity, capability)

Question 4

Business as Usual Attributes

Answer 4

Repetitive, Permanent, Less Change, Less Certainity through Evolution, Permanent Resources, Routine.

Question 5

Definition of Project Management

Answer 5

The application of processes, methods, knowledge, skills and experiences to achieve specific objectives for change.

Question 6

Balance of Success Criteria characteristics

Answer 6

COST, TIME, QUALITY, BENEFIT, RISK

Question 7

Elements of Project Management (8)

Answer 7

1. Scope Definition
2. Risk Management
3. Communication
4. Resource management
5. Planning and Scheduling
6. Stakeholder Management
7. Monitoring and Control
8. Change Control

Question 8

Definition of P3

Answer 8

Project, Programme, Portfolio

Question 9

Definition of Programme Management

Answer 9

The coordination and management of projects and business as usual activities to achieve beneficial change.

Question 10

Definition of a Programme

Answer 10

A unique, transient strategic endeavour to achieve change and incorporate a group of related projects and business as usual activities.

Question 11

What level of P3 prioritises and controls work and the investments?

Answer 11

Portfolio

Question 12

Definition of Portfolio Management

Answer 12

Portfolio Management is the selection, prioritisation and control of an organisations project and programmes in line with it’s strategic objectives and capacity to deliver.

Question 13

Objectives of Portfolio Management

Answer 13

1. Ensuring projects and programmes are selected based on the organisational strategy and align with the long term objectives of the organisation
2. Ensure the organisation isn’t taking on too much risk
3. Ensure there is sufficient resources to execute project and programmes
4. Confirm projects/programmes deliver the appropriate level of returns
5. Better focus on the benefits of the projects and programmes to be performed
6. Weeds out projects/programmes which are not delivering sufficient value.

Question 14

Project Context will contribute to aspects of (3):

Answer 14

Risk, Stakeholders and Schedules

Question 15

Explain PESTLE.

Answer 15

P - Political: the political influences, both internal and external that may impact on our project.
E - Economic: Considerations around funding, inflation, exchange rates and the strength of the local supply chain.
S - Sociological: Positive/negative impacts which arise from beliefs and values of people i.e. working hours, religious beliefs, acceptable behaviours, equality and diversity.
T - Technological: Technological requirements, existence and availability. The capacity and competence of the project to utilise the technology.
L - Legal: Regulatory and legislative considerations, relating to areas such as health, safety, employment law and intellectual property everywhere the project will function.
E - Environmental: Impacts to the environment from the project plus impacts to the projects related to the environment.

Question 16

3 Characteristics of a project life cycle

Answer 16

1. Framework: A framework comprising a series of distinct high level-stages.
2. Structure: a structure which underpins deployment, but NOT one size fits all.
3. Transform: Transform an idea/concept into reality.

Question 17

Explain a linear life cycle.

Answer 17

A linear life cycle aims to complete a project within a single pass.

Through a set of distinct phases that are completed serially and span from development of the initial concept to the deployment of an ultimate output, outcome or benefits.

Question 18

Explain a Iterative life cycle.

Answer 18

A life cycle that repeats one or more of the phases of a project or programme before proceeding to the next one, with the objective of managing uncertainty of scope by allowing objectives to evolve as learning and discovery takes place.

Question 19

Explain a hybrid life cycle.

Answer 19

A life cycle that enables a pragmatic mix of philosophies, typically fusing together elements from predictive and adaptive perspectives to create a new model or approach. For example: using iterative methods for early requirements, where uncertainty is greatest, and following up with sequential processes to formalise deployment.

Question 20

The different points of an EXTENDED project life cycle.

Answer 20

Concept - Definition - Deployment - Transition - Adoption, Benefits Realisation, Operation

Question 21

What happens in the concept phase of an extended project life cycle?

Answer 21

This is where the Business Case would be created.

Question 22

What happens in the definition phase of an extended project life cycle?

Answer 22

Where we define and plan what needs to be carried out.

Question 23

What happens in the development phase of an extended project life cycle?

Answer 23

Where we execute the plan and handover deliverables.

Question 24

In which life cycle does adoption and benefits realisation happen and what does it entail?

Answer 24

Extended life cycle - this is where the project products are adopted by the user and the project sponsor will work with the stakeholders to review and measure the effectiveness of the project to check all the benefits expected have been delivered.

Question 25

Which tool could be used to analyse project context?

Answer 25

PESTLE.

Question 26

Which level of management would deliver change of a strategic nature?

Answer 26

Programme.

Question 27

Which level of management is carried out at organisational or departmental level?

Answer 27

Portfolio