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
