Terminology (M4)

Question 1

Define ‘Risk’.

Answer 1

Risk is the potential of a situation or event to impact on the achievement of specific objectives.

Question 2

Define ‘threat’

Answer 2

A negative threat that if occurs could have a detrimental effect on one or more objectives.

Question 3

Define ‘opportunity’

Answer 3

A positive risk event that if occurs will have a beneficial effect on one or more objectives.

Question 4

Define risk process.

Explain the 4 steps.

Answer 4

A process that allows individual risk events and overall risk to be understood and managed proactively, optimising success by minimising threats and maximising opportunities.

1. Identification: identify risks
2. Analysis: analyse probability of occurrence and impacts
3. Response: identify and implement appropriate responses.
4. Closure: hand over residual operational risk, complete documentation and close the process.

Question 5

List the risk identification techniques (6)

Answer 5

1. Delphi - Uses expert judgement (typically external) who will anonymously and often remotely generate possible risks. The collated results will be recirculated for consensus and sent back to the project for analysis.
2. Nominal Group Technique - alleviates the negative aspect of brain storming i.e. non-participation. Captures risk anonymously using post-it notes.
3. Brainstorming - Captures large amount of risk quickly. Involves the project team and stakeholders. Output is a list of risks described by phrase or sentence.
4. Interview - used when it’s impossible/difficult to gather people together for a single meeting. Enables wide range of contributors, but time consuming.
5. Checklist - acts as a detailed aside memoir and generated by the organisation, incorporating lessons learned, to reflect key issues that affect their environment.
6. Prompt List - uses a list of headings related to the generic sources of risk. This method is often used to support other techniques such as brainstorming.

Question 6

What tool do we use for risk analysis? What is it?

Answer 6

A Risk Matrix. This is how we will respond dependent on whether the risk event is a threat or opportunity - some approaches will be PROACTIVE, some will be REACTIVE.

The risk is analysed to increase knowledge of probabilities and impacts.

RESPONSE TO THREATS: Avoid - Transfer - Reduce - Accept.

RESPONSE TO OPPORTUNITY: Exploit - share - transfer - reject.

Question 7

Where are the outputs of the risk process documented?

Answer 7

The outputs of the risk process is documented on a risk register. Its a document listing identified risk events and their planned responses.

Impact - Probability - Severity - Actions Taken - Risk owner - Residual Risk.

Question 8

Define issue management

Answer 8

An issue is a problem that is now, or about to breach delegated tolerances for work in a project or programme. Issues require support from the sponsor to agree a resolution.

Question 9

What are the 6 stages of issue management?

Answer 9

1. log and analyse issues
2. update risk analysis.
3. escalate analysis to the sponsor.
4. assign actions to relevant team member
5. apply change control if tolerances are breached and re-plan
6. track management of issue through to closure.

Question 10

Where do we document issues?

Answer 10

In the Issue Log. It should show the ownership and action of each issue.

Question 11

Define ‘issue’

Answer 11

An issue is a problem that is now, or about to breach delegated tolerances for work in a project or programme

Question 12

Define ‘risk’

Answer 12

An uncertain event or condition that if occurs will effect one or more of the project objectives

Question 13

Define quality.

Answer 13

Quality is the fitness for purpose or the degree of conformance of the outputs of a process, or the process itself to requirements

Question 14

Define quality management.

Answer 14

Quality management is the discipline of ensuring the outputs, benefits and process meet stakeholder requirements and are fit for purpose.

Question 15

What are the 4 key components to quality management (sometimes referred to as continuous improvement)?

Answer 15

1. Quality Planning (QP) - takes the scope and specifies the acceptance criteria used to validate that the outputs are fit for purpose to the sponsor.
   (roles + responsibilities, methods, acceptance criteria)
2. Quality Assurance (QA) - Process of evaluating overall project performance on a regular basis to provide confidence the project will achieve their quality standards.
3. Quality Control (QC) - inspection, measurement and testing to ensure the project outputs meet the acceptance criteria defined during quality planning.
4. Quality Improvement (QI) - quality improvement uses the lessons of the past to improve actions in the future. These actions will typically be in the form of improved processes for Quality Management.

Question 16

4 key reviews that could take place within the project environment.

Answer 16

1. Decision Gate - ensures the project is reviewed at critical stages of it’s life. The review will consider compliance against organisational governance, and the readiness for the project to proceed further. The project will also be measured for continued viability against the business case.
2. Benefits Realisation Review - allows the owning organisation to establish and understand whether the project succeed in delivering the benefits stated in the business case. This is usually done by the sponsor.
3. Post-Project Review - this is very soon after the transition phase. It captures lessons learnt. The project will be measured against success criteria and final out-turn of original plans.
4. Project Audit - these provide assurance to the organisation that the projects are being well managed. They can be used to validate consistent use of procedures/standards and ensure the staff have the appropriate skills and knowledge. It’s usually done by someone independent of the project.

Question 17

how are timings and frequency of reviews of a project determined?

Answer 17

By the organisational governance.

Question 18

Explain the timeline of how reviews may take place in a project.

Answer 18

concept - definition - deployment - transition - adoption - benefits realisation - closure

Question 19

Define communication

Answer 19

Process of exchanging information and confirming there is a shared understanding.

Question 20

Whats the difference between a correctly received intended message and an incorrect message?

how can an incorrect message be clarified?

Answer 20

Correct Intended message: sender encodes, medium is OK, receiver decodes correctly.

Incorrect Intended message: sender encodes, NOISE barrier interferes, the receiver decodes incorrect.

To clarify an incorrect message, we use feedback loops between parties.

Question 21

Give 6 benefits of a project communication plan.

Answer 21

1. It builds stakeholder analysis.
2. Increases engagement and team member buy-in.
3. Provides clarity on who provides information to whom.
4. Ensures messages are understood
5. More likely to lead to effect communication through analysing and over coming barriers.
6. Reduces provision of unnecessary project information.

Question 22

What 6 things should the communication plan factor in?

Answer 22

1. project context: background of project
2. barriers to communication: percieved barriers.
3. stakeholder engagement: how stakeholders relate to eachother.
4. project objectives and deliverable:
5. sensitivity of information
6. communication budget: scope in terms of communication budget

Question 23

What tool do we use for communication?

Answer 23

A communication plan - states who, what, how, when in a log i.e. kick off meeting, discussed project objectives, involved proj team + Pm, face to face, feedback from the meeting.

Question 24

Define leadership

Answer 24

Leadership is the ability to establish vision and direction, to influence and align others towards a common purpose, and to empower and inspire people to achieve success.

Question 25

Give 6 ways a leader can influence performance of teams and individuals?

Answer 25

1. Provides clear roles and responsibilities.
2. Develops trusting relationships
3. Recognition and reward
4. Promotes openness and honesty
5. Leads by example
6. Communicate openly

Question 26

Give examples of challenges for a PM leading and developing a team?

Answer 26

1. issues and compatibility with team members
2. getting the right skills and attributes
3. lack of accountability within the team
4. fluidity of project team environment
5. sufficient time to dedicate to development of individuals
6. sufficient time to dedicate to development of team

Question 27

Who and what model was created for team development? and when was it created?

Answer 27

Bruce Tuckman’s team development model in 1969.

4 areas:

1. Forming: team created & get to know eachother.
2. Storming: members have different views
3. Norming: clear and comfortable in their roles and work together.
4. Performing: team is committed to task and eachother.

(they typically move in this direction however an individual can move back and forth depending on the environment).

Question 28

Who created the behavioural test?

Answer 28

Created by Meredith Belbin called the 9 team roles model. It is a behavioural test also called the self-perception inventory. It scores people on how strongly they express behavioural traits from 9 different team roles.

1 - Resource Investigator: enthusiastic at the start of project, drags in ideas from other companies, excellent network, extroverted, good communication. Tends to loose momentum

2 - Plant: Innovators, creative, unorthodox, imaginative, solve difficult problems.

3. Monitor Evaluator: prudent, sees all options, not rushed into decision, judges accurately.
4. Specialist: specialist knowledge, professional standards, pride in own subject, single minded.
5. Implementer: disciplined, loyal, reliable, hard worker, systematic.
6. Completer finisher - attention to detail, unlikely to start if can’t finish, introverted, conscientious, delivers on time.
7. Shaper - highly motivated, need for achievement, strong drive, headstrong, assertive, likes challenge/to win.
8. Coordinator: causes others to work towards goals, delegate readily, command respect, good interpersonal relations
9. Team worker - sociable, concerned about others, diplomatic, adaptive, averts friction.

Question 29

Benefits of understanding Belbin’s team roles:

Answer 29

1. Understand action of team,
2. place members in suitable roles
3. add new dimension to job description for new team members.
4. make better working relationships
5. communicate more effectively between team members.