Additional Foundation Review Questions

Question 1

What is the definition of a project?

A A unique, transient endeavour undertaken to achieve planned objectives. (APM, BoK)

B A group of related projects and change management activities that together achieve beneficial change for an organization. (APM, BoK)

C A grouping of an organization’s projects and programmes. Portfolios can be managed at an organizational or functional level. (APM, BoK)

Answer 1

A

2.2

A unique, transient endeavour undertaken to achieve planned objectives. (APM, BoK)

Question 2

What is the definition of a programme?

A A unique, transient endeavour undertaken to achieve planned objectives. (APM, BoK)

B A group of related projects and change management activities that together achieve beneficial change for an organization. (APM, BoK)

C A grouping of an organization’s projects and programmes. Portfolios can be managed at an organizational or functional level. (APM, BoK)

Answer 2

B

2.2

A group of related projects and change management activities that together achieve beneficial change for an organization. (APM, BoK)

Question 3

What is the definition of a portfolio?

A A unique, transient endeavour undertaken to achieve planned objectives. (APM, BoK)

B A group of related projects and change management activities that together achieve beneficial change for an organization. (APM, BoK)

C A grouping of an organization’s projects and programmes. Portfolios can be managed at an organizational or functional level. (APM, BoK)

Answer 3

C

2.2

A grouping of an organization’s projects and programmes. Portfolios can be managed at an organizational or functional level. (APM, BoK)

Question 4

What are benefits defined as?

Answer 4

the measurable improvement from change, which is perceived as positive by one or more stakeholders, and which contributes to organizational (including strategic) objectives.

Question 5

What is the definition of benefits management?

Answer 5

the identification, quantification, analysis, planning, tracking, realization and optimization of benefits.

Question 6

What is the definition of a programme?

Answer 6

a group of related projects and change management activities that together achieve beneficial change for an organisation

Question 7

What is the definition of programme management?

Answer 7

the coordinated management of projects and change management activities to achieve beneficial change

Question 8

What is the definition of a project management?

A The application of processes, methods, knowledge, skills and experience to achieve the project objectives. (APM, BoK)

B The coordinated management of projects and change management activities to achieve beneficial change. (APM, BoK)

C The selection, prioritization and control of an organization’s projects and programmes in line with its strategic objectives and capacity to deliver. (APM, BoK)

Answer 8

A

2.2

The application of processes, methods, knowledge, skills and experience to achieve the project objectives. (APM, BoK)

Question 9

What is the definition of a programme management?

A The application of processes, methods, knowledge, skills and experience to achieve the project objectives. (APM, BoK)

B The coordinated management of projects and change management activities to achieve beneficial change. (APM, BoK)

C The selection, prioritization and control of an organization’s projects and programmes in line with its strategic objectives and capacity to deliver. (APM, BoK)

Answer 9

B

2.2

The coordinated management of projects and change management activities to achieve beneficial change. (APM, BoK)

Question 10

What is the definition of a portfolio management?

A The application of processes, methods, knowledge, skills and experience to achieve the project objectives. (APM, BoK)

B The coordinated management of projects and change management activities to achieve beneficial change. (APM, BoK)

C The selection, prioritization and control of an organization’s projects and programmes in line with its strategic objectives and capacity to deliver. (APM, BoK)

Answer 10

C

2.2

The selection, prioritization and control of an organization’s projects and programmes in line with its strategic objectives and capacity to deliver. (APM, BoK)

Question 11

What are dis-benefits?

Answer 11

the measurable result of a change, perceived as negative by one or more stakeholders, which detracts from one or more organizational (including strategic) objectives.

Question 12

What are emergent benefits?

Answer 12

i.e. benefits that are unanticipated, but which emerge as the initiative is developed and, most often, as it is deployed or implemented.

Question 13

What are intermediate or enabling benefits

Answer 13

benefits which arise from a change initiative and which can in turn enable the realization of the end benefits that the initiative was designed to realise

Question 14

What is an intangible benefit?

Answer 14

benefits that are difficult to quantify and measure reliably, such as improved staff morale and decision-making. In such cases proxy indicators of such benefits can be developed.

Question 15

In the Benefits Management Model, what is the definition of Principle -
Align benefits with strategy?

Answer 15

Benefits represent the measurable improvements which contribute towards one or more organizational or strategy objectives. As such, new strategy objectives must be clearly articulated so this contribution can be measured consistently and reported in the performance management system.

Guide Reference 1.5, 3.1

Question 16

In the Benefits Management Model, what is the definition of Principle -
Start with the end in mind (SWTEIM)

Answer 16

By adopting benefits-led rather than output-driven programmes and projects, commissioning organizations can better identify how the scope of the proposed investment is determined by the benefits required. Simply, the benefits required should determine the scope (and the business requirements) for investment approval rather than vice versa.

Guide Reference 1.5, 3.1

Question 17

In the Benefits Management Model, what is the definition of Principle -
Utilize successful delivery methods

Answer 17

Disciplined delivery methods like the Praxis Framework remain a necessary pre-requisite for benefits realization. If programmes and projects are not delivered effectively, or if they are delivered late, there will inevitably be adverse impacts on benefits realization.

Guide Reference 1.5, 3.1

Question 18

In the Benefits Management Model, what is the definition of Principle -
Integrate benefits with performance management

Answer 18

Linking benefits from programmes and projects to the performance management system is further enabled where balanced scorecards and strategy maps are cascaded down and across the organization. By doing so, it enables benefits to be mapped to measures used at a unit and functional level.

Guide Reference 1.5, 3.1

Question 19

In the Benefits Management Model, what is the definition of Principle -
Manage benefits from a portfolio perspective

Answer 19

Managing benefits at a portfolio level does not mean that you can dispense with benefits management at a programme or project level. A portfolio-based approach to benefits management does, however, help to ensure consistency of practice, enabling a clear line of sight with new strategy objectives, efficiency in the use of funding and people resources and effectiveness in term of optimizing benefits realization.

Guide Reference 1.5, 3.1

Question 20

In the Benefits Management Model, what is the definition of Principle -
Apply effective governance

Answer 20

This is to ensure that clear, aligned, consistent and active governance exists with agreed accountability for enabling business changes upon which benefits realization is dependent, and for the realization of the required benefits in operational service. The intent is not to attribute blame but rather ensure clear allocation of accountabilities and transparent reporting of performance as a basis for continuous learning and improvement.

Guide Reference 1.5, 3.1

Question 21

In the Benefits Management Model, what is the definition of Principle -
Develop a value culture

Answer 21

Effective benefits management is enhanced by the shift from a delivery-centric culture (where the focus is on delivering capability to time, cost and quality tolerances) to a value-centric culture (where the primary focus is on delivering value to customers). Given value is largely subjective, embracing both monetary and non-monetary benefits, it needs to be actively managed to deliver the most efficient use of finite resources and to optimize the benefits realized from the portfolio of programmes, projects and other work.

Guide Reference 1.5, 3.1

Question 22

FOUNDATION TEST
In Benefits Discovery Workshops, what are the factors to consider?

Answer 22

Membership
* Authority to act
* Duration
* Agenda – including review of the strategic drivers & investment
objectives for the initiative
* Facilitator – informed, intelligent, impartial

Guide Reference 5.2.1

Question 23

When using benefits mapping, what techniques can be used?

Answer 23

• MSP® Benefits Map
• Results Chain
• Benefits Dependency Network
• Benefits Logic Map

Guide Reference 5.2.2

Question 24

Value for money is considered in terms of the 3Es. Which is NOT one of the 3Es?

A Economy
B Effort
C Efficiency
D Effectiveness

Answer 24

B

2.3.2 pg 18

The 3 Es include Economy, Efficiency & Effectiveness.

Question 25

Which one is NOT an objective of benefits management? A We can demonstrate the above - not just as part of the framework of accountability, but also so we learn what works as a basis for continuous improvement. B Benefits are realized as early as possible and are sustained for as long as possible. C Forecast benefits are realized in practice, including by ensuring the required enabling, business and behavioural change take place. D Emergent or dis-benefits are not documented and put aside to prioritise other benefits because there is no potential for value for money to be achieved.

Answer 25

D 2.5 Emergent or dis-benefits are not documented and put aside to prioritise other benefits because there is no potential for value for money to be achieved.

Question 26

Which is not a practice of the benefits management cycle? A Value and Appraise B Scope C Plan D Realize E Review

Answer 26

B 1.5, pg 7 The benefits management cycle consists of five practices. Identify and Quantify Value and Appraise Plan Realize Review

Question 27

What is the definition of value?

Answer 27

is the extent to which benefits (financial and non-financial) exceed the resources required to realize them. 2.3.1, 6.4, 6.4.1-3

Question 28

What is the definition of value management?

Answer 28

“The concept of Value is based on the relationship between satisfying needs and expectations and the resources required to achieve them. The aim of Value Management is to reconcile all stakeholders’ views and to achieve the best balance between satisfied needs and resources.” IVM 2.3.1, 6.4, 6.4.1-3

Question 29

*FOUNDATION TEST* What is Function Analysis System Technique (FAST)?

Answer 29

a diagrammatic representation of functions and their hierarchy 6.4, 6.4.1-6.4.3

Question 30

True or False Value and Benefits Management are mutually supportive disciplines

Answer 30

True Guide Reference 2.3.1, 6.4, 6.4.1-3

Question 31

What is a value tree?

Answer 31

a diagram that shows the relationship between, and hierarchy of, value drivers, which can be both financial and non-financial. Can be further enhanced by: * Prioritizing the primary value drivers to create a Value Profile. * Value Index - to assess the performance of an option or initiative against the organization’s Value Profile * VFM ratio - the Value Index is divided by the resources/costs required to deliver that value Guide Reference 6.4, 6.4.1-6.4.3

Question 32

What is value analysis (VA)?

Answer 32

is a structured team-based approach that reviews the design and material composition of a product, building or process so that modifications can be made that reduce cost but do not reduce value to the customer. Guide Reference 6.4, 6.4.1-6.4.3, pg. 95

Question 33

What is value engineering (VE)?

Answer 33

is a method of maximizing value within a design. It can be distinguished from VA by when it occurs: VE is concerned with reducing or avoiding costs before the production phase, whereas VA is concerned with reducing or avoiding costs during production. Guide Reference 6.4, 6.4.1-6.4.3, pg. 95

Question 34

In Appraising and evaluating value for money, in the economics perspective, what is investment appraisal?

Answer 34

undertaken ‘ex ante’ or prior to investment: to determine whether an investment is justified (i.e. whether the benefits are realistic and worth the cost to realize them), taking into account any previous lessons learned, dis-benefits and the risks and consequences of not undertaking the initiative. Guide Reference 2.3.2, pg 18

Question 35

In Appraising and evaluating value for money, in the economics perspective, what is investment evaluation?

Answer 35

undertaken ‘ex post’ or after completion): to determine whether value for money was achieved and to ensure new lessons are learned and applied going forward. Guide Reference 2.3.2, pg 18

Question 36

Value for Money - the economics perspective In VFM, what are the 3 Es?

Answer 36

VFM and the 3 E’s: * Economy: minimizing the cost of inputs – doing things at lowest cost. * Efficiency: the relationship between outputs and the resources required to produce them – doing things right. * Effectiveness: the relationship between the intended and actual outcomes achieved – doing the right things. Guide Reference 2.3.2

Question 37

In VFM & the 3 Es, what is the definition of 'Economy'?

Answer 37

Economy: minimizing the cost of inputs – doing things at lowest cost. Guide Reference 2.3.2

Question 38

In VFM & the 3 Es, what is the definition of 'Efficiency'?

Answer 38

the relationship between outputs and the resources required to produce them – doing things right. Guide Reference 2.3.2

Question 39

In VFM & the 3 Es, what is the definition of 'Effectiveness'?

Answer 39

the relationship between the intended and actual outcomes achieved – doing the right things. Guide Reference 2.3.2

Question 40

Which one is not a barrier to effective benefits management? A Successful collection of baseline data B Benefits measures unrelated to the MIS C Some benefits are difficult to measure D Attribution E Initiative shut down before benefits are fully realized

Answer 40

A Guide Reference 4.3.1, pg 50 All of the barriers to effective benefits management are: * Long time lag between initiative planning and benefits realization * Staff leave * Failure to collect baseline data * Benefits measures unrelated to the MIS * Some benefits are difficult to measure * Attribution * Initiative shut down before benefits are fully realized

Question 41

There are a number of common misconceptions that often compromise the effectiveness of benefits management and benefits realization. Choose 3 options below that describe the common misconceptions of what benefits management is not: A Used to justify a preferred option B A specialism C An additional bureaucracy D Concerned with making the evitable happen.

Answer 41

A, B, & C D is incorrect Guide Reference 4.3.2, pg 50 Barrier 2. Common Misconceptions – benefits management is not… 1. A silver bullet 2. An ‘out of the box’ solution 3. Used to justify a preferred option 4. Applied only at initiative level 5. A linear/sequential process 6. A specialism 7. An additional bureaucracy 8. Concerned with making the inevitable happen.

Question 42

Choose 3 solutions for barriers, The ‘Knowing-Doing Gap’ & Cognitive Biases A Focus on practices & principles B Review results and their causes C Acceptance of successes D Training

Answer 42

A, B & D Guide Reference 4.3.5 Barriers 3 & 4 The ‘Knowing-Doing Gap’ & Cognitive biases: Solutions * Acceptance of failure * Review results and their causes * Independent & regular review * Training * Focus on practices & principles * Apply the Key Success Characteristics of effective benefits management…

Question 43

*FOUNDATION TEST* What are the Barrier 4. Cognitive Biases?

Answer 43

*Over-confidence / The Planning Fallacy * The Illusion of control * The status quo bias * The sunk cost effect * Confirmation bias and being slow to change our minds * Framing * Mental accounting * Ignoring regression to the mean * The affect heuristic * The endowment effect Guide Reference 4.3.4 & Appendix D

Question 44

What are the Solutions in Barriers 3 & 4 The ‘Knowing-Doing Gap’ & Cognitive biases?

Answer 44

Acceptance of failure * Review results and their causes * Independent & regular review * Training * Focus on practices & principles * Apply the Key Success Characteristics of effective benefits management… Guide Reference 4.3.5

Question 45

What is not a KSCs of effective Benefits Management? A Active B Evidence-Based C Transparent D Monetarily-led

Answer 45

D Guide Reference 1.5, 4.4 The KSCs of effective Benefits Management are: * Active * Evidence-based * Transparent * Benefits-led * Forward-looking * Managed across the full business change lifecycle

Question 46

*FOUNDATION TEST* What are the five practices of the Benefits Management Cycle?

Answer 46

Identify & Quantify Value & Appraise Plan Realise Review Guide Reference 4.2

Question 47

*FOUNDATION TEST* What is not one of the 7 Benefits Management Principles? A Utilise successful delivery methods B Start with the end in mind (SWTEIM) C Align benefits with budget D Apply effective governance

Answer 47

C Guide Reference 1.5, 3.1, pg 25 The 7 Benefits Management Principles are: Align Benefits with Strategy Driver-based analysis Start with the end in mind (SWTEIM) Utilize Successful Delivery Methods Integrate benefits with performance management Manage benefits from a portfolio perspective Apply effective governance Develop a Value culture

Question 48

In more reliable forecasting and factors to consider, what is leakage?

Answer 48

Guide Reference 5.3.5.2

Question 49

In more reliable forecasting and factors to consider, what is attribution?

Answer 49

Guide Reference 5.3.5.2

Question 50

In more reliable forecasting and factors to consider, what is deadweight?

Answer 50

Guide Reference 5.3.5.2

Question 51

In more reliable forecasting and factors to consider, what is displacement?

Answer 51

Guide Reference 5.3.5.2

Question 52

In more reliable forecasting and factors to consider, what is ramp up?

Answer 52

Guide Reference 5.3.5.2

Question 53

In more reliable forecasting and factors to consider, what is drop off / tail off?

Answer 53

Guide Reference 5.3.5.2

Question 54

*FOUNDATION TEST* What is the objective of the Value & Appraise practice?

Answer 54

To ensure resources are allocated to those change initiatives that individually and collectively represent best value for money. Guide Reference 6.1

Question 55

In valuing benefits in monetary terms, what does financial benefits focus on?

Answer 55

Cost avoidance Guide Reference 6.2.2, 6.2.2.1-3

Question 56

Efficiency improvements

Answer 56

– Budget savings – Unit cost reductions – The use to which the time saved is put Guide Reference 6.2.2, 6.2.2.1-3

Question 57

Non-financial benefits

Answer 57

Willingness to pay/accept techniques Guide Reference 6.2.2, 6.2.2.1-3

Question 58

What is cost-benefit analysis?

Answer 58

quantifies in monetary terms as many of the costs and benefits of an initiative as possible to determine whether the benefits exceed the costs and hence whether investment is justified Guide Reference 6.3.1

Question 59

In cost-benefit analysis, what is the focus on?

Answer 59

incremental costs and benefits i.e. exclude sunk costs and accounting adjustments Guide Reference 6.3.1

Question 60

What techniques are included in cost-benefit analysis?

Answer 60

Payback, Accounting Rate of Return, IRR, and NPV Guide Reference 6.3.1

Question 61

Within the cost-benefit analysis, what is the technique of payback defined as?

Answer 61

Ignores cash flows after the break-even point and therefore doesn't consider total profitability; it also ignores any salvage value at the end of the asset life Guide Reference 6.3.1

Question 62

Within the cost-benefit analysis, what is the technique of accounting rate of return defined as?

Answer 62

is based on accounting profits (rather than cash flows), which are influenced by changes in accounting policy and which can lead to sub-optimal decisions from the perspective of maximising shareholder value. Guide Reference 6.3.1

Question 63

Within the cost-benefit analysis, what is the technique of NPV defined as?

Answer 63

is a statement of the value of future costs and benefits, expressed at today's value. It is a monetary measure. Guide Reference 6.3.1

Question 64

Within the cost-benefit analysis, what is the technique of IRR defined as?

Answer 64

is related to NPV as it is the discount rate that expresses future costs and benefits at a zero NPV - in short, the annual percentage return that the initiative is forecast to achieve. It is a percentage measure. Guide Reference 6.3.1

Question 65

What is 'The Productivity Index'?

Answer 65

where there is a constraint, the NPV should be divided by the unit of the constraining or limiting factor Guide Reference 6.3.1

Question 66

In Real Options Analysis, what does 'Expand' mean?

Answer 66

a project is built with excess capacity which can be utilized if demand grows. Guide Reference 6.3.2

Question 67

In Real Options Analysis, what does 'Contract' mean?

Answer 67

a project is built so that if demand is less than anticipated, output can be reduced. Guide Reference 6.3.2

Question 68

In cost-benefit analysis, what does 'Switch' mean?

Answer 68

the project is built so that capacity can be expanded or contracted as required. Guide Reference 6.3.2

Question 69

In cost-benefit analysis, what does 'Upgrade' mean?

Answer 69

this is of particular value in those initiatives with long life cycles and in fields with a high rate of technology development. Guide Reference 6.3.2

Question 70

In cost-benefit analysis, what does 'Defer' mean?

Answer 70

the start date of a project can be delayed until market conditions change. Guide Reference 6.3.2

Question 71

In cost-benefit analysis, what does 'Abandon' mean?

Answer 71

to cancel a project during its life. Guide Reference 6.3.2

Question 72

In cost-benefit analysis, what does 'Staging or sequencing' mean?

Answer 72

the option to deliver a series of initiatives in parallel or in sequence, as the outcome of the earlier projects becomes known. Guide Reference 6.3.2

Question 73

In multi-criteria analysis, what are the initiatives and options?

Answer 73

Attractiveness & Achievability Guide Reference 6.3.4

Question 74

In multi-criteria analysis, what is the initiative and option 'Attractiveness' mean?

Answer 74

e.g. financial return on investment, scale of non-financial benefits, strategic contribution etc Guide Reference 6.3.4

Question 75

In multi-criteria analysis, what is the initiative and option 'Attractiveness' mean?

Answer 75

factors such as technical challenge, scale of business change required, user commitment etc. Guide Reference 6.3.4

Question 76

What are the 5 stages of Element 3: Managing pre-transition activity

Answer 76

* Benefits planning * Communication * Contingency planning * Allocation of responsibilities and accountability * Change readiness assessment Guide Reference 7.5

Question 77

Element 5: threats to benefits optimization, what are the 5 sources of failure:

Answer 77

1. Forecasting failure: benefits are not identified or are over-estimated. 2. Delivery failure: the failure to deliver the initiative with the planned functionality and on time, so impacting on the scale and timing of benefits realization. 3. Business and behavioural change failure: the business and behavioural changes on which benefits realization is dependent don’t occur or are poorly scheduled (causing delay in benefits realization). 4. Benefits management failure: in relation to capturing and leveraging emergent benefits and mitigating dis-benefits. 5. Value for money failure: the benefits are realized but at excessive cost. Syllabus Topic Guide Reference 7.7, 7.7.1

Question 78

Element 5: Managing benefit threats & opportunities: Threats to Benefits optimisation, sources of failure, what is 'Forecasting Failure'?

Answer 78

benefits are not identified or are over-estimated. Guide Reference 7.7, 7.7.1

Question 79

Element 5: Managing benefit threats & opportunities: Threats to Benefits optimisation, sources of failure, what is 'Delivery failure'?

Answer 79

the failure to deliver the initiative with the planned functionality and on time, so impacting on the scale and timing of benefits realization. Guide Reference 7.7, 7.7.1

Question 80

Element 5: Managing benefit threats & opportunities: Threats to Benefits optimisation, sources of failure, what is 'Business and behavioural change failure'?

Answer 80

the business and behavioural changes on which benefits realization is dependent don’t occur or are poorly scheduled (causing delay in benefits realization). Guide Reference 7.7, 7.7.1

Question 81

Element 5: Managing benefit threats & opportunities: Threats to Benefits optimisation, sources of failure, what is 'Benefits management failure'?

Answer 81

in relation to capturing and leveraging emergent benefits and mitigating dis-benefits. Guide Reference 7.7, 7.7.1

Question 82

In Element 5: Managing benefit threats & opportunities: Threats to Benefits optimisation, sources of failure, what is 'Value for money failure'?

Answer 82

the benefits are realized but at excessive cost. Guide Reference 7.7, 7.7.1

Question 83

Element 6: Planning effective stakeholder engagement - 1. Stakeholder segmentation, who are the main four stakeholders?

Answer 83

Influential Observers Spectators Key Players Active Players

Question 84

What is transition management?

Answer 84

Ensuring that initiative outputs are fit for purpose and can be integrated into business operations. Guide Reference 8.1

Question 85

*FOUNDATION TEST* In Portfolio-based application – Element 5: Tracking and Reporting Benefits Realization at a Portfolio Level, what 4 techniques aid benefits monitoring

Answer 85

* Management by exception * One version of the truth * Clear line of sight reporting * Pareto rule Guide Reference 10.3.5

Question 86

In Realize Element 3: The Power of (Committed) Conversations, what are the 4 types of conversations?

Answer 86

Initiative conversations Conversations for Understanding Conversations for Performance Conversations for Closure Guide Reference 8.5.2

Question 87

*FOUNDATION TEST* In Realize Element 3: The Power of (Committed) Conversations, what is 'Initiative Conversations'?

Answer 87

call to action via an assertion, a request, a promise, or a declaration. Guide Reference 8.5.2

Question 88

In Realize Element 3: The Power of (Committed) Conversations, what is 'Conversations for Understanding'?

Answer 88

in which people seek to understand the drivers and evidence for the initiative conversations. Two by-products: – the specification of the ‘conditions of satisfaction’ – the “involvement, participation and support” of those involved as they understand their role in the change. Guide Reference 8.5.2

Question 89

In Realize Element 3: The Power of (Committed) Conversations, what is 'Conversations for Performance'?

Answer 89

a network of requests and promises spoken to produce a specific action and result. Guide Reference 8.5.2

Question 90

In Realize Element 3: The Power of (Committed) Conversations, what is 'Conversations for Closure'?

Answer 90

which are characterized by the use of assertions, expressives and declarations to bring closure to the change. Guide Reference 8.5.2

Question 91

In Realize Element 3: What are the 5 Key features of effective ‘stories’?

Answer 91

Structured Memorable Alive Engaging Relevant Guide Reference 8.5.6

Question 92

In Realize Element 3: Key features of effective ‘stories’, what is a 'Structured' story?

Answer 92

with a beginning, a middle and an end, and make clear the consequences of failing to take effective action. Guide Reference 8.5.6

Question 93

In Realize Element 3: Key features of effective ‘stories’, what is a 'Memorable' story?

Answer 93

this is helped by: – Media: Use different media to convey the message using verbal presentations as well as the written word. – Message: Making it memorable via creative presentation. Guide Reference 8.5.6

Question 94

In Realize Element 3: Key features of effective ‘stories’, how do you create an 'Alive' story?

Answer 94

making the story ‘live’ by: – Including a physical component. – Incorporating drama. – Allowing the story to adapt as the initiative progresses. Guide Reference 8.5.6

Question 95

In Realize Element 3: Key features of effective ‘stories’, what is a 'Engaging' story?

Answer 95

the story should be told from a viewpoint with which the audience can associate; and actively involve stakeholders in the ‘story’, and encourage them to adapt it to the local circumstances. Guide Reference 8.5.6

Question 96

In Realize Element 3: Key features of effective ‘stories’, what is a 'Relevant' story?

Answer 96

the problem needs to be relevant to the stakeholders in creating ownership and a shared experience. Guide Reference 8.5.6

Question 97

In Practice 5: Cognitive biases effecting post-implementation review, what are the 4 cognitive biases?

Answer 97

Self-serving bias Hindsight bias Outcome bias The Texas Sharpshooter fallacy Guide Reference 9.5

Question 98

In Practice 5: Cognitive biases effecting post-implementation review, what is 'Self-serving bias'?

Answer 98

the belief that our successes are due to our efforts and abilities, whereas failures are due to external events and bad luck. Guide Reference 9.5

Question 99

In Practice 5: Cognitive biases effecting post-implementation review, what is 'Hindsight bias'?

Answer 99

The tendency to see past events as being more predictable than they actually were. Guide Reference 9.5

Question 100

In Practice 5: Cognitive biases effecting post-implementation review, what is 'Outcome bias'?

Answer 100

the belief that the outcome determines whether a decision was correct, rather than whether it was the right decision given the information available at the time. Guide Reference 9.5

Question 101

In Practice 5: Cognitive biases effecting post-implementation review, what is 'The Texas Sharpshooter fallacy'?

Answer 101

the tendency to assess the success of an initiative (and the appropriateness of the original investment decision) in terms of the actual outcome rather than asking whether the benefits the initiative was designed to deliver were actually realized and whether the outcome represents value for money. Guide Reference 9.5