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Project Management > Evaluating Projects > Flashcards

Evaluating Projects Flashcards

1
Q

To what are projects linked?

A

to measuring and demonstrating results

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2
Q

on what does a good project managment practice based on?

A

to perform evaluation, which depends on the finding/results

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3
Q

what is the results of evaluation?

A

it contributed to transparency and accountability

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4
Q

what are the benefits of the evaluation process?

A

Lessons learned can be sheared more easily

Report provide a more robust for raising budget and influencing stakeholder

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5
Q

when should the project be evaluated?

A

No hard rule is available, often govered by company policies

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6
Q

What are some hints that a project needs evalaution?

A

New project
Project under execution
project closeout

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7
Q

when is a re-evaluation needed?

A

when the project appears to be in trouble or when the project produces better results than expected

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8
Q

why should project closeout be evalauted?

A

additional information e.g when the product is in the market and economic reture on investment can be assesed

Lesses learnded and best practices ca be applied to subsequent projects

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9
Q

why is the pre-project evaluation important?

A

it determines the effectiveness of the project before execution

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10
Q

Who has to be convince?

A

the stake holder in an internal project

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11
Q

What’s the main difference in the pre-project evaluation in a pharmaceutical industry and innovation department?

A

In pharma Industry one obtained a project demand (internal or customer), while in an innovation department there is a complete processes for pre-project evaluation (Cooper’s stage-gate-process)

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12
Q

Types of project are grouped by? (learn to draw it and give examples)

A

uncertainty of the project outcome and the execution of the project

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13
Q

How does a project lifecycle looks like?

A

Demand
Preparation
Execution

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14
Q

what are some project charter?

A 
Project scope and dependencies
Project economics
Economic key Performance Indicators
Porject risks and mitigation
project Effort and cost
project organization
Miestone plan
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15
Q

what are Project economics?

A

Qualitative and quantitative benefits

Busines Value

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16
Q

what are Economic key Performance Indicators

A

Net present value
internal rate of reture
Payback period

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17
Q

How do you obtained the excepted commercial value (ECV)

A

NPV* probability of the project = ECV

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18
Q

what are steps in pharmaceutical project evaluation?

A 
Project definition
Definition of options
Collection of data
Assumptions
Business Case
Controls
19
Q

Which steps are related to each other

A

Collection of data
Assumptions
Business Case

20
Q

Project definition

A

Define the scope, objectives and focuse

21
Q

Definition of options

A

Rate different options with regard to attractiveness

22
Q

Collection of data

A

gather data (internally and externally) that are required based to make assumptions

23
Q

Assumptions

A

evaluation collected data and formulate internal and external assumptions, test these and re-check data

24
Q

Business Case

A

present business case, re-define it in case project can avoid risk or add more value

25
Q

Controls

A

conduct monitoring measures

26
Q

Which are the various sources to collete data

A

production costs/ analysis of sales force based on own data by business intelligence, from competitos

27
Q

what includes in the definition of assumptions?

(go through the examples)

A

the debate with stakeholders

28
Q

on what is the define mitigation based on?

A

on the ranking of the ris

29
Q

draw the prorization of assumption using risk matrix

A

do you know it?

30
Q

Check the example on slide 23

A

Have you done so?

31
Q

What is the importance of the ongoing evalution?

A

to make sure that project is proceeding as planned
monitoring and reporting should be condcuted consistently
project metrics should be calculated to measure the success

32
Q

Which topics are addressed in the decision tree analysis?

A

Approach bulids a graphic representation of the decisions
Alternative outcomes are represented having the same chance
shows main outcomes itemized

33
Q

why is decision tree anaylsis important in a pharma industry?

A

focues on the activites that are essential for sucessful development, therefore decision trees are extented up to approval

34
Q

what are decision tree analysis used for?

A

is an effective tool to illustrate R&D decision points

employed to compared stragegic options

35
Q

on what is the probabilities of uncertain elements based?

A

are assesed based on available knowlegde and the circumstance of the individual case

36
Q

how can the overall probability be provided?

A

if milestones are composed of several independent activites

37
Q

Intangibles and interdependencies

A

Various interdependencies exist and intangibles are hard to quantify

38
Q

How can intangibles be managed?

A

Pharse expected goals and outcome, even if not mesureable
identify possible alternative measures and use them
Benchmark based on past, comparable projects
Focus on indicators, which can be assessed

39
Q

when do evaluation takes place?

A

prior to, within and after execution of projects

40
Q

who set the scope of evaluation

A

by senior management

41
Q

when is re-evaluation?

A

during entire project cycle

42
Q

what is important when evaluating

A

it has to b reported to stakeholders, lack of evalaution directly falls back to project resposible

43
Q

where should the evaluation focus

A

on internal and extenal enviroment

44
Q

what is importnat during the project?

A

Discussion with and input from other department is mandatory throughout entire project

Project Management (6 decks)

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