Understand the situational context of projects Flashcards
why is it important to understand why the project is being carried out
understanding the project context is key to it’s ultimate success
What 4 ways does context impact a project
- how it’s delivered
- who may be involved
- what is delivered
- when is best for this to happen
what are the 2 techniques to determine what factors influence and impact a project
PESTLE and SWOT
What does PESTLE stand for
- Political
- Economic
- Social
- Technical
- Legal
- Environmental
What would you use PESTLE for
PESTLE is used to generate the specific options to be considered
What does SWOT stand for
- Strengths
- Weaknesses
- Opportunities
- Threats
What would you SWOT
SWOT is used to do a comparative analysis of the options identified by PESTLE
After PESTLE and SWOT is done what options should be chosen
- strongest
- less weak
- most opportunistic
- less threatening
What does VUCA stand for
- Volatility - unexpected change
- Uncertainty - accepting change is inevitable
- Complexity - unique/technical
- Ambiguity - lack of clarity in scope
What does VUCA seek to understand
- give high-level perspective project environment
- identify emerging opportunities
- respond to new conditions
- address shortfalls
- avoid mismatches
What 2 causative factors are considered in VUCA
- level of confidence in outcome
- current knowledge
rated high or low
What is the PM role re the legal and regulatory environment
PM is not an expert but have a solid appreciation of the legal and regulatory environment the project will be delivered
What should the PM do if a legal or regulatory problems arise
know who within or outwith organisation to consult
How is governance affected by the legal and regulatory environment
whatever opinions exist the governance of the organisation, as implemented by the sponsor takes precedence
What is sustainability in relation to projects
the balancing of environmental, social and admin aspects of a project to meet stakeholder needs without affecting future generations
What identifies the BAU of an organisation
Purpose, Timescale, Outcome, People, Management
Purpose - sustain the org to achieve business goals
Timescale - ongoing, no defined end point
Outcome - repetitive, non-unique product/service
People - functional teams
Management - long-term, functional line management
What identifies a project within an organisation
Purpose, Timescale, Outcome, People, Management
Purpose - achieve objectives then terminate
Timescale - limited, temporary, pre-defined start/end
Outcome - unique product or service
People - temporary teams across boundaries for project needs
Management - dedicated PM for project duration, may not be LM
what distinguishes a project from a programme or portfolio
a project is usually work of a lesser scale and complexity leading to an output.
what distinguishes a programme from a project or portfolio
a programme is a combination of projects, BAU and change management to deliver benefits
what distinguishes a portfolio from a project or programme
a portfolio is a collection of projects and programmes designed to achieve strategic objectives
what do projects, programmes and portfolios deliver
- projects deliver outputs, benefits from business case
- programmes deliver outcomes, strategic benefits
- portfolios ensure all is delivered in the most efficient way and prioritised to strategic goals
what is programme management
- selection of projects and BAU work is structured
- the coordination of project delivery
- slowing, speeding, stopping projects for maximum benefits realisation
- exploiting synergies and opportunities
what is the goal of portfolio management
- to balance change initiatives and BAU while optimising return on investment
- coordinating structures supporting deployment and prioritising resources
