Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Project Management > Lecture 1 - The Project Context > Flashcards

Lecture 1 - The Project Context Flashcards

1
Q

What are the four key aspects a project requires?

A
  1. Uniqueness
  2. Temporary
  3. Focused
  4. Constraints
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Define ‘uniqueness’:

A

Exactly the same project has not been done before.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Define ‘temporary’:

A
  • Projects have a beginning and an end.

- Temporary team move on after the project has finished.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Define ‘focused’:

A

The task is to deliver a specific benefit.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Give examples of constraints which can be applied to projects:

A
  • Time
  • Cost
  • Quality
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the three factors which suggest Project Management is important?

A
  • Projects are ubiquitous and are replacing traditional organisational structures.
  • Projects impact the bottom line (majority of income for companies comes from projects).
  • There are disastrous consequences from poor project management (e.g. Heathrow Terminal 5 and Olympic Games 2012).
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Name the 7 common project characteristics:

A
  • Change
  • Mission focused
  • Temporary
  • Integrating.
  • Social Construction
  • Emergence / uncertainty
  • Aspects of uniqueness.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are the two variables which define the common type of project?

A
  • Volume; ‘how many tasks per unit time?’.
  • Variety; ‘degree by which the tasks vary’.

These variables are typically related to the uncertainty and risk involved.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What are the three common types of projects?

A
  • First-timers
  • As but’s
  • Painting by numbers
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Define ‘first-timers’:

A

No comparable projects undertaken before.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Define ‘as buts’:

A

As last jobs, but with these differences.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Define ‘painting by numbers’:

A

Projects which are extremely similar to ones performed before thus a system to conduct them can be established.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the case study for Project Environment?

A

Nintendo Wii.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What were the major problems which occurred at the launch of the Nintendo Wii?

A
  • Supply was unable to keep up with demand.
  • Serious injuries because customers were not used to exercise.
  • Large numbers of insurance claims.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are the two models which relate to the different project environments?

A
  • The PESTEL model; refers to the external environment.

- The MODEST model; refers to the internal environment.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the PESTEL model?

A

What in the external environment can affect the project?

  • POLITICAL
  • ECONOMICAL
  • SOCIAL
  • TECHNOLOGICAL
  • ENVIRONMENTAL
  • LEGAL
17
Q

What is the MODEST model?

A

What in the internal environment can affect the project?

  • MISSION
  • ORGANISATION
  • DELIVERY
  • STAKEHOLDERS
  • TEAM
18
Q

Draw out the ‘conventional hierarchies’ in projects:

A

This is the traditional and inefficient way of managing projects
…

19
Q

Define ‘general management’:

A

“Maintenance”

  • Manages status quo, improvements through optimisation.
  • Permanent organisational structures, authority well defined.
20
Q

Define ‘project management’:

A

“Innovation”

  • Overseeing change, involves resolution of conflicts.
  • Works om temporary structure; fuzzy lines of authority.
21
Q

Write out the flow chart of projects within an organisation (V,O,P,P,P,P):

A
  • VISION
  • ORGANISATIONAL STRATEGY
  • PORTFOLIOS
  • PROGRAMMES
  • PROJECT STRATEGY
  • PROJECT TASKS
22
Q

What should the vision of a project be?

A
  • Narrow focus (don’t try to be good at everything).

- It is expressed through a mission statement.

23
Q

What tools are used in the process of organisational strategy? And what does organisational strategy provide?

A
  1. Porter’s Five Forces
  2. SWOT Analysis

Organisational strategy provides focus on where to invest resources.

24
Q

What is the role of portfolio management?

A
  • Vision and strategy shows that one company cannot be good at everything.
  • Portfolio management focuses the company on what they are good at and pushes them in the direction of choosing appropriate projects for their skill set.
  • Implement financial selection criteria (payback period, discounted cash flow, internal rate of return).
  • Use scoring methods to help focus choice of projects.
25
Q

What is programme management and what is it used for?

A

Programme management is an organised framework which has two main uses:

  • Grouping existing projects
  • Defining new projects

Under programme management, all projects are managed in a coordinated way to:

  • Reach a common goal
  • Extract benefits which would not be realised if the projects were managed independently.
26
Q

Projects can have three different timings, what are they and what are the names of the time frameworks they construct?

A
  1. Sequentially (chain)
  2. In parallel (portfolio)
  3. Simultaneously (possible mutual dependencies; network).
27
Q

What is project management and how is it broken down?

A

Project management is the management of an individual project.

Overall, project management consists of a project board, technical advisory group, project assurance, a project manager, project management office and the project teams which carry out the work.

28
Q

What is a ‘project board’?

A
  • Senior users: Provide input on behalf of end-users.
  • Executive: Want the result, is the sponsor (budget).
  • Senior suppliers: Representatives of suppliers.
29
Q

What is the ‘technical advisory group?

A

An external group of technical experts that advises the project board (e.g. technicality, feasibility, safety…)

30
Q

What is ‘project assurance’?

A

An external group which provides the project board with objective oversight (project status, finances, risks etc…)

31
Q

What is a Project Management Office (PMO) and what is its purpose?

A
  • A centralised line function to assist project managers.
  • Its purpose is to define and maintain standards for projects.
  • There is one per organisation, not one per project.
  • The use of one means the success/failure of a project relies less on the experience of the project manager involved.
32
Q

Project Office –> Project Process

A
  • Monitor and control project performance
  • Develop PM capabilities
  • Programme and portfolio management
  • Organisational learning
33
Q

Project Process –> Project Office

A
  • Information about project status (finance, % complete).

- Knowledge and experience gained from project.

34
Q

What are the tasks of the PMO?

A

Monitoring and controlling project performance:
- Status reports to upper management

Development of PM capabilities:

  • Development of standardised methodology
  • Training project staff, mentoring project managers

Programme and portfolio management:

  • Coordination between projects, resource allocation
  • Identifying, selecting and prioritising new projects

Organisational learning:
- Project reviews/audits, documentation; “lessons learnt”

35
Q

What are the advantages of a PMO?

A
  • Develop standard method to increase the success of projects.
  • Documentation of the process and outcomes of the project.
  • Facilitate transparent resource allocation.
  • Improve performance with respect to time and cost (in the long term).
  • Will help prioritise projects; help and organisation cut out useless ones - save C, T, Q.
36
Q

What are the disadvantages of a PMO?

A
  • Adds another bureaucracy with burdens on both time and cost (initially).
  • Hard to measure benefit / performance of PMO (benefit only shown in long run, not all projects are directly comparable).
  • If variety of projects is higher, a standardised method from PMO would not be useful.
  • Company culture?
37
Q

When should a PMO be implemented?

A
  • Variety of projects / company culture (should you use a virtual PMO?)
  • Size of firm / volume of projects; initial economic strain.
  • Intermediate impact vs. long term effect.

Project Management (9 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions