Week 1

Question 1

What is a Project?

Answer 1

A complex, non-routine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs.

Question 2

PMBOK’s definition of Project Management

Answer 2

“The application of knowledge, skills, tools and techniques to project activities to meet the project requirements.”

Question 3

Managing projects typically include;

Answer 3

• identifying and delivering requirements,
• addressing the various needs, concerns and expectations of the stakeholders, and
• balancing the competing project constraints such as scope, quality, schedule, budget, resources and risk.

Question 4

What is a Programme

Answer 4

• A series of coordinated, related, multiple projects that continue over an extended time and are intended to achieve a goal.
• A higher level group of projects targeted at a common goal.

Question 5

Urban transport system: 12 –year, $47 million involving 120 miles of rail lines!

Answer 5

Programme

Question 6

Different aspects of the transport system

Answer 6

Project

Question 7

What is a Portfolio?

Answer 7

Centralised management of multiple projects and programmes (related or unrelated).

Question 8

Programme:

Answer 8

Focused on meeting strategic objectives and project integration; risk management; cost management; communication etc. across all projects

Question 9

Projects:

Answer 9

meeting specific project objectives

Question 10

A portfolio of projects may include:

Answer 10

Customer relations management project, ERP programme, New product development programme, etc.

Question 11

A portfolio are;

Answer 11

Involved in front-end activities: Identifying, prioritising and authorising projects and programmes to achieve strategic objectives

Question 12

Portfolios–>

Answer 12

Leverage economies of scale, reduce costs, improve probability of success

Question 13

Project management office

Answer 13

Centralised unit that oversees the management of portfolio of projects and programmes

Question 14

What does a PMO (project management office) do?

Answer 14

-Provides support functions for projects; establishes and maintains procedures and standards for project management methodologies; trains employees; manages resources; monitors projects; provides feedback; maintains and archives project documents.

Question 15

What are the four parts of the project life cycle

Answer 15

Defining
Planing
Executing
Delivering

Question 16

Sociocultural dimensions of project management

Answer 16

Leadership 
Problem-solving 
Team work
Negotiation
Politics
Customer expectations

Question 17

Technical dimensions of project management

Answer 17

Scope
WBS
Schedules
Resource allocation
Baseline budgets
Status reports

Question 18

Drivers of Project management

Answer 18

• Compression of the product lifecycle
• knowledge explosion
• corporate downsizing and restructuring
• increased customer focus
• small project represent big problems
• triple bottom line (planet, people and profit)