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Project Management > Lecture 2 - Define it > Flashcards

Lecture 2 - Define it Flashcards

1
Q

What is a stakeholder?

A

Any individual or group with an interest in the project process or outcome.

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2
Q

The most often-cited causes of project failure can be attributed to stakeholders and their requirements. What are these causes?

A
  • Lack of user involvement.
  • Lack of top management support.
  • Unrealistic user expectations.
  • Failure to recognise requirements of key customer groups.
  • Failure to gain shared understanding on projects outcomes.

Begin with the end in mind.

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3
Q

Give examples of internal stakeholders:

A
  • Project manager & team.
  • Senior management.
  • Sponsor, PMO.
  • Line management.
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4
Q

Give examples of external stakeholders:

A
  • Customers.
  • Suppliers.
  • Government.
  • Press and media.
  • Local communities, NGOs.
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5
Q

What are the 7 indicators used by the world when determining stake holders in a project?

A
  1. Who might be affected (+/-) by the project?
  2. Who are the voiceless that require special efforts?
  3. Who are the representatives of those affected?
  4. Who is responsible for what is intended?
  5. Who will mobilise for/against what is intended?
  6. Who can contribute resources (financial / technical)?
  7. Whose behaviour has to change to succeed?
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6
Q

What is the problem when it comes to identifying key stakeholders?

A

Deciding on where to stop identifying key stakeholders.

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7
Q

What are the four key areas identified on the power/interest map?

A
  1. Keep satisfied (high power, low interest).
  2. Manage closely (high power, high interest).
  3. Monitor only (low power, low interest).
  4. Keep informed (low power, high interest).
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8
Q

In terms of stakeholders, what can their power be due to?

A
  • Direct authority (CEO).
  • Indirect authority (government).
  • Other relationships (audits etc).
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9
Q

In terms of stakeholders, what can their interest be due to?

A
  • Relevance to company (CEO).
  • Involvement in project (staff).
  • Side effects (general public).
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10
Q

How do you deal with the ‘keep satisfied’ stakeholders?

A
  • Moderate priority group.

- Need to keep this group sufficiently involved.

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11
Q

How do you deal with the ‘manage closely’ stakeholders?

A
  • Highest priority for the project manager.

- Manage through active engagement.

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12
Q

How do you deal with the ‘monitor only’ stakeholders?

A
  • Lowest priority for the project manager.

- Don’t overload them with communication.

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13
Q

How do you deal with the ‘keep informed’ stakeholders?

A
  • Moderate priority group.

- Objective is to sustain their interest and leverage when useful to the project.

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14
Q

On the power/interest map, what does the size of the dots indicate?

A
  • Magnitude of stakeholders.
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15
Q

In the traditional view, what are the three main things stakeholders want?

A
  • Time
  • Cost
  • Quality

There is usually a trade off between these objectives and compromises have to be made.

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16
Q

Draw out ‘the iron triangle’:

A

…

17
Q

Beyond time, cost and quality what other things could stakeholders want?

A
  • Stimulating environment.
  • Project to stay out of the news.
  • Project to be a success in years to come.
18
Q

What measuring system can be used to capture the requirements beyond TCQ?

A

The balance scorecard.

19
Q

What four quadrants are invoked on the balance scorecard?

A
  • Financial requirements (short, medium, long term).
  • Customers and suppliers (direct; TCQ, integrated supply chain, indirect; environmental, ethical, could there be an entrance to a new market?)
  • Internal processes (improvement of business processes, impact on staff satisfaction, health & safety etc…)
  • Innovation and learning (learning outcomes of the project).
20
Q

How are you able to measure the satisfaction of stakeholders?

A
  • Time: agreed timeframe with milestones.
  • Cost: agreed budget and milestone payments.
  • Quality: conformance to specifications and procedures.
21
Q

How can you quantify other requirements beyond TCQ?

A
  • Pilot studies
  • Benchmarking
  • Modelling
22
Q

Describe the the ‘conventional’ approach to project monitoring and evaluating?

A
  • Project manager plans and manages the process.
  • Stakeholders provide information at the start; and evaluate outcome at the end.
  • Success is measured mainly quantitatively (clear criteria needed).
  • Predetermined approach.
23
Q

Describe the the ‘participatory’ approach to project monitoring and evaluating?

A
  • Project manager, staff and stakeholders plan and manage the process.
  • Stakeholders participate in the process by collecting and analysing data.
  • Success is measured mainly quantitatively and qualitatively.
  • Adaptive approach.
24
Q

What to consider when choosing how much to involve stakeholders in the project?

A
  • Complexity of project.

- Importance of stakeholders (high-involve; low-don’t).

25
Q

Draw out the project planning overview flowchart:

A

…

26
Q

Draw out the concept development chart:

A

…

27
Q

How are ideas for projects screened?

A
  • Marketing assessment: market attractiveness.
  • Financial appraisal: potential for good ROI.
  • Strategic fit to company mission.
  • Technical feasibility.
28
Q

What does a good concept development process involve?

A
  • Allow time and space for exploration.
  • Protect the ownership of ideas.
  • Encourage rapid prototyping.
  • Senior management involved.
29
Q

What does a bad concept development process involve?

A
  • Over-restrictive processes.

- No processes at all.

30
Q

What is the importance of having a clear product description in the project brief?

A

To avoid scope creep.

Scope creep is when a concept changes over time; at the end there is no relation to the original idea.

31
Q

What is the stage-gate model?

A
  • The gates act as progress reviews; checkpoints to halt/change project.
  • An example is the UK ministry of defence.
32
Q

What is a project brief?

A

An official statement of requirements and expectation of stakeholders.

33
Q

What is the structure of project brief?

A
  1. Project context (background information).
  2. Project definition (scope, success criteria).
  3. Stakeholders (identity, communication strategy).
  4. Risk analysis (identify, management strategy).
  5. Outline project plan.

Project Management (9 decks)

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