Unit 5 - Business Fundamentals and Project Management

Question 1

what is a project manager>

Answer 1

the person who is responsible for the day-to-day management of the project and must be competent in managing all aspects of a project.

Question 2

what is a project sponsor?

Answer 2

the person who is accountable for ensuring that the work is governed effectively and delivers objectives that meet the identified needs

Question 3

what are the main 6 aspects to project management?

Answer 3

1. scope
2. schedule
3. finance
4. risk
5. quality
6. resources

Question 4

give some examples of tasks that a project manager may need to complete

Answer 4

-planning work that needs to be done
-looking at risks that are involved in project managing
-making sure work is done to the right standard
-motivating the team of people involved
-coordinating the work that is done
-making sure the project is running on time and within budget
-dealing with changes to the project when necessary
-making sure the project delivers the expected outcome(s)

Question 5

what is the project management triangle?

Answer 5

the process where outputs, outcomes and benefits are identified, defined and controlled.

It highlights the relationship between scope, cost and time

Question 6

what is scope?

Answer 6

the totality of outputs, outcomes and benefits and the work that is required to produce them

can be seen as an overview of the main aims of the project and the requirements needed

Question 7

what is time?

Answer 7

the timescales and deadlines that need to be met.

Question 8

what is cost?

Answer 8

how much it will cost to complete the project. the budget should always be monitored carefully. This can include things such as labour costs and resources ect.

Question 9

what is a project life cycle?

Answer 9

a framework that is used to manage a project from the initial idea to completion. they are traditionally linear.

Question 10

what are the four phases of a linear project life cycle?

Answer 10

1. initiation
2. planning
3. execution
4. evaluation or closure

Question 11

what is the difference between linear and agile approaches?

Answer 11

-linear will release the product or service at the end of the project lifecycle
-agile will release the project outcomes through the project lifecycle

Question 12

what is the ishakawa fishbone diagram / cause and effect analysis?

Answer 12

a method of finding possible solutions by identifying root causes of faults or problems.

Question 13

what can the Ishakawa Fishbone Diagram be used to do?

Answer 13

-discover the root cause of problems
-reveal “bottlenecks” in a process that can cause delays
-identify where and why a process does not work
-improve quality control

Question 14

what are the steps to cause and effect analysis?

Answer 14

1. Identify the problem - who, what, where and why?
2. work out the major factors involved - systems equipment, materials.
3. identify possible causes
4. analyse the diagram - look at possible causes ad what knock on effects that they may have

Question 15

what are the 5 distinct phases of a project life cycle? What can happen if the project is complex?

Answer 15

1, starting
2. planning and organising
3. delivery and implementation
4. completion and close
5. review

if it is complex, the delivery and implementation phase can be broken down into different stages

Question 16

what is involved in the starting phase of a project life cycle?

Answer 16

-this is where the need for a project is recognised
-teams will discuss what needs to be involved and what the outcomes need to be
-discuss who would be able to deliver what the project requires
-it is important to ensure that there is a need for the project as this can take a large amount of time and money.

Question 17

what is involved in the planning and organising phase of a project life cycle

Answer 17

-begin to plan and organise based on the information from the starting phase
-the amount of planning needed will be based on how complex the project is

Question 18

what is involved in the delivery and implementation stage?

Answer 18

-allocating team members
-overseeing the delivery of tasks and the quality of them
-addressing deviations from the plan
-updating the plan accordingly
-regular team meetings
-managing threats and challenges to the project.

Question 19

what is involved in the completing and closing stage?

Answer 19

-final testing and evaluation
-addressing unfinished tasks
-final quality checks

Question 20

what is involved in the project review stage?

Answer 20

reviews can provide valuable information on:
-team performance
-output
-improvement
-savings
-risks
-any lessons learned

Question 21

what are the 8 steps that can be followed in the project planning and organising phase?

Answer 21

1. project definition
   2.presenting the business case for the project
2. defining roles and reporting
   4.formal project planning
3. establishing quality control and assurance
4. appointing the human resources needed
   7.identifying and managing stakeholders
   8.identify and manage risks to the project’s success

Question 22

what do we mean by project definition?

Answer 22

making it clear as to what the project needs to cover and what it will deliver. states deadlines that are needed and have details on the overall project.

Question 23

what do we mean by defining roles and reporting?

Answer 23

this is ensuring that everyone knows what their responsibilities and roles within the project are - ensuring that nothing is missed and that everything can be accounted for.

Question 23

what do we mean by presenting the business case for the project?

Answer 23

you will need to convince through the business case and presentations that the project is worth any risks and costs.

Question 23

what do we mean by establishing quality control and assurance?

Answer 23

-ensure top quality at the end of the project -ensure resources, money and time hasn't been wasted

Question 23

what do we mean by formal project planning?

Answer 23

a detailed plan of what needs to be completed: -tasks -order of the tasks -who will be doing what -timings -resources -stakeholder involvement and communications

Question 24

what do we mean by appointing the human resources needed?

Answer 24

-allocating specific work and tasks to people on the team.

Question 24

what do we mean by identify and manage risks to the project's success?

Answer 24

-understand what the risks are and how they can hinder successes -rank the risks in order of the likelihood it will happen and consider if action needs to be taken.

Question 24

what do we mean by identifying and managing project stakeholders

Answer 24

-managing their different levels of interest and power -ensuring we are communicating with them correctly -could require evidence of stakeholder mapping

Question 24

what are the four main elements of a project?

Answer 24

1. time 2. resources 3. scope 4. quality

Question 25

what can impact the time of a project?

Answer 25

-too optimistic -no previous experience -problems and changes -absences -changes to key personnel -PESTLE factors -resource availability -incomplete planning and organising -lack of motivation -slow approval process

Question 26

what can impact the resources of a project?

Answer 26

-optimistic on the costs -increase in costs during the project -changes in staff leading to recruitment costs -key supplies changing -incomplete budgeting

Question 27

what can impact the scope of a project?

Answer 27

-agreed aims, goals and objectives -the output on deliverables -agreed specifications -the business case -roles and responsibilities

Question 28

what is a project owner?

Answer 28

the person or group that requested the project - they also are most likely to have financed / requested to finance the project

Question 29

what is a project steering group?

Answer 29

the strategic management team that can include big leaders and managers in a project

Question 30

what is a Gantt chart?

Answer 30

a planning tool that is a graphical description of your project plan. it shows activities over a continuous timeline

Question 31

what is a risk assessment??

Answer 31

a method we use to identify hazards and risks that could cause harm to a project.

Question 32

what do you need to consider when thinking about risks?

Answer 32

- risk impact -probability -risk descriptions -project impact -risk area -symptoms -triggers -risk response -response strategy -contingency plan

Question 33

how is risk value calculated?

Answer 33

value = est. probability x level of impact

Question 34

what factors should be considered when looking at cost -benefit analysis?

Answer 34

-how much income will be gathered or costs saved -how will staff morale benefit? -how will customer satisfaction improve? -direct and indirect costs -what income could be lost to competitors if action is not taken?

Question 35

what should be looked at when contingency planning?

Answer 35

-identify and priorities the key risks -specify risk trigger points -assess impacts and estimate potential benefit/harm -create a contingency plan -communicate and rehearse

Question 36

what is a crisis, give some examples

Answer 36

a time of danger, difficulty or doubt when problems must be solved or important decisions must be made. - spending cuts -failure of equipment/technology -terrorism threats / attacks -theft from organisation -violence within the workplace -cyber attacks and data protection breaches -global pandemics

Question 37

why do we need crisis management?

Answer 37

-prepare for the unexpected so we can deal with all types of situations -make sure there are strategies in place to recover from situations -warn, prepare and support employees with changes -provide good communication channels with individuals and teams

Question 38

give some examples of organisational changes

Answer 38

-technology changes -competitor activities -changes in the market -changing customer expectations -new legislation, regulations or standards -environmental factors -finances -political factors -external crisis -internal and external business factors

Question 39

name some change management models

Answer 39

-lewin's force field analysis -lewin's change management model -kotters 8-step change model -nudge theory -fishers process of transition -kubler-ross's five-stage model

Question 40

what is lewins force field analysis?

Answer 40

the idea that situations are being maintained by a balance between forces that drive changed and forces that are resisting change

Question 41

what 4 step process is outlines for lewins force field analysis?

Answer 41

1. explain the goals or the objectives you want to achieve with the change 2. think about the kinds of forces that are driving the change 3. identify forces against the change 4. assign each force a score

Question 42

what are the 3 phases of lewins change management model - briefly explain the phases

Answer 42

1. unfreeze - when employers need to prepare for changed. becomes key in enhancing open communication with teams to overcome employee's resistance 2. change - when the change is implemented. good leadership is effective and communication in critical as support is needed 3.refreeze - change is accepted and teams can go back to their regular routines.

Question 43

Explain kotters 8 step change model

Answer 43

1. establish a sense of urgency - build motivation 2. create a guiding coalition - change needs strong leadership 3. develop a shared vision - helps people understand the change 4. communicate the vision - make people aware of the purpose of the change 5. empower people to act on the vision - remove oppositions 6. create short term wins - motivate 7. consolidate and build upon the changes 8. institutionalise the change - speak about the progress made

Question 44

what is nudge theory?

Answer 44

helps to understand: -how people think -how to improve decisions -manage change -identify influences that can be considered unhelpful aims to create a subtle change that can allow space, support and assistance. should be a helpful guide for behaviours and freedom of choice.

Question 45

what are the stages of fishers personal transition curve?

Answer 45

1. anxiety phase 2. happiness phase 3. denial phase 4. fear phase 5. threat phase 6. guilt phase 7. disillusionment phase 8. depression phase 9. hostility phase 10. gradual acceptance 11. moving forward

Question 46

what are the stages in the kubler-ross five stages of grief?

Answer 46

1. Denial 2. anger 3. bargaining 4. depression 5. acceptance

Question 47

what are the stages in the kubler-ross change curve?