Unit 1 Flashcards
List 5 characteristics of projects and describe how each is different from business-as-usual activities
1 - Unique, happen once
Unique time frame, stakeholders, objectives - approach should be appropriate to environment
BAU is defined, repetitive, on-going - management is established and documented; procedures
2 - Deliver Products/Outputs which are handed over to BAS to use
example - factory. Aim is to deliver benefits to BAU
3 - Higher Risks, as unique
Start of project everything is estimates, nothing is certain; predictions. BAU is established, developed to minimise risks
4 - Temporary
Temp org (board) to direct, PM and doers. May not have worked together before, roles must be defined and relationships developed. Specialists may be needed (eg engineering)
Defined start and end
BAU have stable organisation with more permanent roles and relationships which may have developed over time
5 - Estimated budget and timescale
PM must refine estimates, and ensure these are kept (both budget and timescale)
BAU has processes to reduce (optimise) time and cost, increasing efficiency
Explain 5 distinct benefits to be gained from managing groups of projects as a programme.
1 - Better prioritisation of projects in line with overall business strategy - bigger picture
Projects may be started o stopped (terminated) to maintain alignment of overall programme goals rather than individual project goals - assurance to Programme Sponsors only needed projects exist.
2 - Improved resource management and utilisation - people, equipment, facilities, budget can be shared more flexibly across projects, increasing efficiency = smooth and successful delivery of programme.
3 - Holistic Risk Management - common risks can be managed with the same risk response.
Programme Manager can focus on top risks to programme, PM’s can look into individual projects risks
4 - Consistent Project Management approach - Programme Manager sets the process to follow in all projects - consistent reporting, risk management approach, comms management, change/issue control. Benefits team as they know whats required, even if they move projects within the programme
5 - Increased shared learning across projects within the Programme - increased cross-comms; lessons learnt are shared and applied to all projects. Ensures best practise is applied across projects, reducing risks. PM’s learn from each other
5 responsibilities of a Programme Manager throughout programme life cycle
1 - Delivery of Programme outcome
PM’s deliver the projects deliverable, Programme manage the whole of the programmes deliverables. Ensure BAU can fully utilise outputs to achieve benefits
2 - Initiate/Terminate projects
May need to start projects not originally foreseen to fulfil the programmes needs. Also cancel projects no longer contributing to final goal. Some may also need to be rescheduled.
3 - Manage key processes (risks, issues, changes, etc)
Co-ordination and interdependence of projects with risk, change, issues in mind.
4 - Act as Project Sponsor
Make key decisions, escalate issues and change requests
Monitor progress and report consolidated picture upwards - end state vision
5 - Coordination of projects
accelerate/decelerate some projects
Bigger Picture - output of one is in line with another project
3 Key activities of a Portfolio Manager
1 - Ensure Programmes and Projects align with strategic aims and objectives of org - by checking benefits are correct (ROI, reputation)
2 - Resource Management across organisation - smooth resource requirements across all projects/programmes
Stops over recruiting or under resourcing (too much work)
3 - Overall Risks management - total exposure accessed so org doesn’t carry too much risk (property management - if interest rates rise is the mortgage covered?)
PM activities that contribute to Portfolio management activities
Risks - Risk Register for reporting overall exposure
Escalate high risks (use traffic light system)
Plans - PM provides these for resource and report changed through LC
