The concept of project management Flashcards

1
Q

What are the key attributes of a project that differentiate it from BAU

A

It is a unique undertaking in order to achieve a specific objective

It has a define beginning and end

Specifically allocated resources

It will have stakeholders who are interested in the progress and final outcome.

A degree of uncertainty

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2
Q

Every project has constraints (3 specifically) identify and explain what they are

A

Time
Cost
Quality

Time and cost are positively correlated i.e when time increases so does cost as this usually means more resources are required. However contrary to this it is also possible to increase cost in order to reduce time.

Quality tends to be positively correlated with both cost and time, in that increasing the quality of a project will normally lead to greater costs and increase time.

Other possibilities are:
Technological
Political

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3
Q

Gido and Clements identify 4 phases of a large projects life cycle. identify and explain what they are.

N
S
I
C

A

Need

  • The identification of a need via a opportunity or a problem that needs to be addressed.
  • Initially a feasibility study will be conducted to check the size of potential benefits, explore alternative solutions and their lifetime costs.

Solution
All proposals for a solution will be submitted and evaluated with the most appropriate being selected.

Implementation
This phase involves completing the detailed planning and then implementing that plan to accomplish the project objective.
The overall solution is subdivided into separate deliverables to be achieved at fixed points (milestones) throughout this stage of the project life cycle. Achievement of milestones may be linked to stage payments.
- The objectives of functionality, quality, cost and time are monitored regularly against each deliverable to allow for timely and appropriate action to e taken if any slippage has occurred.

Completion
When the project closes confirmation will need to be made that all of the deliverables have been provided and accepted and that all payments have been made and received.
-Project performance is evaluated so lessons from the experience can be taken on to other projects.
- The original business case is revisited to check if any subsequent actions are needed to ensure the achievement of the anticipated benefits.

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4
Q

Explain what a Project Initiation Document (PID) is an the 7 elements that it includes.

P
S
D
C & T
O
S
CoC

(Think sections of a sanction paper.)

A

This is a document is produced during the need stage of Gido and Clements life-cycle and includes the vision and business case for the project

Purpose statement
- why the project is being undertaken.

Scope Statement
- The boundaries of the project outlining the major activities.

Deliverables
- tend to be the tangible elements of the project such as reports, assets and other outputs.

Cost and Time estimates
- The initial estimates however these will be modified later in the project.

Objectives
- Mission, critical success factors (CSF’s) and key milestones of the project.

Stakeholders
- list of major stakeholders and their interest.

Chain of command
- The projects organisation structure. Diagram or statement.

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5
Q

The project Management Institute offers an alternative project life cycle which has 5 stages. identify and explain them.

I
P
E
C
C
A

Initiating
The need or objective is defined. Often organisations have a number of potential projects they would like to undertake and will need to establish the most worthwhile projects through a selection process. This will be based on feasibility, risk and uncertainty.

Planning
Detailed plan. What is to be done, by when and by whom. provide the measure of success. Make clear the requirements of time, resources and money. Determine if targets are achievable.
- A number of separate plans created for Time, Quality, Resources, Contingency, Cost, Communication, Deliverables.

Execution & Control (closely linked)

  • Change is an inevitable part of any project and must be managed carefully. It may arise from internal or external factors and is therefore important to have an agreed change management process so everyone involved is aware of how change will be managed.
  • Should include: Method for prioritising changes requested (must haves, nice to haves), Authorisation for changes, Agreement of a change budget (to avoid project sponsor having to authorise every penny of spend), Record of changes, Communication of changes.
  • A control system will help to prevent and correct deviations, implement recommendations that come about from monitoring, reviewing and evaluating the project.

Closing/closure

  • project is delivered to the users.
  • An end of project meeting is held and formal sign off of the project.
  • Project review meeting is held to evaluation lessons learned, if deadlines, quality standards and budgets where met and a final report is issued.
  • Project team is disbanded.
  • Post Completion Audit (PCA) is held a few months after the end of the project with the managers, users and developers to receive feedback and highlight any specific issues and action points. PCA’s also help to develop more realistic forecasting of future projects by understanding project failures.
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6
Q

Identify and explain the 4 main types of feasibility considerations when selecting between a number of projects.

T
S
E
E

A

Technical
Can it be done, is the technology available and suitable.

Social
Does it fit with current operations. does the project fit with business goals. the number of people and skills required (recruitment, training, redundancy)

Ecological (Environmental)
What is the environmental impact. Effect on local community and company image. pollution.

Economic
Is it financially viable. does the project provide a benefit to the organisation. Cost-benefit analysis helps evaluate the costs of the proposal over its anticipated life.

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