Flashcards in 2 - Major Programme and Projects: Resources and Project Life Cycles Deck (15):
What types of resources are required to help deliver a project?
Detailed assessment of requirements is needed
Personnel (skills, experience & knowledge)
ICT, equipment, plant, premises, financial
What are the 2 types of resource scheduling?
Resource loading - assigning resources to activities, based on what it required
Resource leveling - task of scheduling and reorganising activities so that demand can be met efficiently
What are 3 ways in which you can manage and assess resources in projects?
Resource utilisation - coping with peaks and troughs, effective use of resources
Resource effectiveness - amount of work delivered compared to the resources that have been utilised
Schedule slippage - period of time past the due date, knock on effect on the other projects
How can It systems/software help in managing project/programmes?
Multi-project scheduling, resource allocation, scenario planning
What are 4 problems that occur when scheduling activities?
Safety margin - just in case
Student syndrome - takes as long as estimates
Passing on - late finishes get passed on
Postponements - activities with slack will generally be postponed
Describe Goldratt’s critical chain
Removing the problems of scheduling activities
Identify the constraints (bottlenecks), Remove buffers (safety time), manage the critical activities
What are the two main financing options?
Debt finance - typically from banks, repaid with interest
Equity finance - capital injected by investors, investors own a stake in the business, expect a return (dividend)
According to Weiss and Wysocki, what are the 5 stages of a life cycle for a project?
Definition - overview, objectives, risks
Planning - WBS, id critical path, est cost/time
Organising - obtain resources, team, assign roles
Controlling - est controls, reviews, change management
Closing - install deliverables, final report, audit
What needs to be laid out in the project definition document?
clear & unambiguous
Objectives - clear, measureable, quantifiable
Scope - what’s in and what’s out
Strategy - how to meet objectives
What are the 3 types of project structure?
Functional - most interest in project
Project - separate team, self-contain unit
Matrix - cross functional team, staff from across org
What is RACI?
Tool for highlighting responsibilities
Responsible - person performing task
Accountable - ultimately accountable for task
Consulted - 2 ways comms
Informed - 1 way comms
What are the 3 most common types of control within a project?
Cybernetic - comparing against predefined standard
Go / No go control - gates
Post-control - takes place after event
Why would a project terminate early?
Cut in funding, personnel being withdrawn, objectives no longer relevant
what are the differences between leadership and management in the context of programmes and projects?
manager - "doing things right" -responsible for directing and coordinating human and material resource, to achieve org goals.
leadership - "doing the right thing" - relationship through which one person influences behaviour and actions of people