Part 1 Flashcards
(28 cards)
What is a project?
A project is a temporary endeavor undertaken to create a unique service or result.
What are attributes of projects?
Unique, one-time endeavor Degree of uncertainty Clear objective Specific time frame Sponsor and / or customer Series of interdependent activities Various limited resources Organized set of work efforts
What is project management? (Definition)
Project management is the application of knowledge, skills tools and techniques to project activities to meet project requirements
What are the activities of project management?
Initiation Planning Executing Controlling Closing
Name the Standards on Project management
DIN (Deutsche Industrie Norm)
PRINCE2
ISO (intl. orga. for standardization)
PMBOK (PM - US Standard)
Name the Project Goals and Constaints
Scope
Cost
Quality
Schedule
Hard to fulfill all objectives in one project: high quality and low costs as well as scope and schedule do not work well together.
Forms of Project Success
-Meeting Agreements
(cost, schedule, specification met)
-customer success
(Customer need met, deliverables used, customer satisfied)
-performing organizations success
(increase market share, new products, new technology)
-project teams success
(loyalty, development of the people, satisfaction of project members)
Show the strategic planning process
Portfolio alignment
Strategic analysis-> guiding principles (vision&mission) —>
Strategic objectives-> flow-down objectives —> portfolio alignment
Describe the elements of a swot analysis with examples
- strength (patents, know how)
- weaknesses (financial resources, Human Resources)
- opportunities (new trends, new laws, market growth infrastructure)
- threats (new competition, political instability, catastrophes)
Name and describe the guiding principles in the strategic planning process
VISION - describes the organization of the future (economically, socially, and environmentally)
MISSION - way to achieve vision
Name and describe the key components of a mission state consideration
Purpose (why) Core values (how) Beliefs (what do we stand for) Culture (how members should act) Primary business areas (what business engages in) Primary customers (who for)
Strategic objectives vs flow-down objectives
Strategic - means achieving vision and mission, objectives setting occurs annually (once a year), describe short-term and long-term results, describe measures of achievement
Flow down - enforce strategic objectives, implement through ongoing operations - primarily through projects
What are the strategic requirements of objective ( how should they be)
S pecific M easurable A ffectable. (influence2achieve) R ealistic T ime bounded
Portfolio Management
How to identify potential projects?
Through PESTLE- Analysis: Political (strategic opportunity) Economical (market demand) Social (social needs) Techological (techno. advance) Legal (legal Environmental (environmental consideration)
Types of organizational structures
Functional
Projectized
Matrix
Difference in:
Work assignments
Reporting relationship
Decision-making responsibility
Comparison of organizational structures
Who makes the most decision?
Functional - functional manager
MATRIX - Shared
PROJECTIZED - project manager
Comparison of organizational structures
pros/cons
Functional Manager
+
Good discipline-specific-knowledge, easy for central control, effective for shard resources, one boss, clear career path for professionals
-
slow communicationbtw. departments, slow response to change slow decision making
MATRIX
+flexible, easy to share resources, good cooperation betw. departments, more input for decision, wide acceptance of decision, good discipline-specific knowledge, effective integration on project, increased transfer of knowledge btw. projects
-
two bossees, many sources of conflict, more meetings, slow reaction time, hard to monitor & control
PROJECTIZED
+
break down department barrier, shorter response time, quick decisions, one boss, enhanced project team identity, customer focus, effective integration on project
-
duplication of ressources
rules not always respected, potential lessons learned can be lost, discipline-specific knowledge can slip, less career opportunity for team member
What is Organization Culture
Organizational culture: shared values, social rituals and symbols
implemented through rituals: meeting, ceremonies
implemented through symbols: architecture, dress code
How does Organizational Culture impact on Projects?
motivate ethical actions and communication of managers and subordinated. Determines how ppl are treated, controlled and rewarded, establish how cooperation, competition, conflict and decision making are handled, encourage personal commitment to the organization and justification for its behaviour
Name the types of culture
Power culture (boss controls firm) Role culture (follow your role) Task culture (get your job done) Person culture (interest in employees development/needs)
Describe Project Culture Norms
act ethically in the best interests of the projects, the project team and other project stakeholder
How should the project manager behave under the project culture norm
be responsible (own decision)
respectful (towards others, resources, finance, eco)
be fair
be honest
What is the Role of the Project Executive?
Steering Team (select, prioritise, resource and guide the project) Sponsor (issue charter, review progress reports/ mentoring and assisting PM) Customer (select contractor, funding and stoping the project== task develope clear requirements, sign charter and accept/reject deliverables)
What is the role of the Project Management?
PROJECT MANAGER
leads planning, controlling & closing of project, accountable for project result, schedule and budget, less formal power (authority)
FUNCTIONAL MANAG
head of department, negotiates with PM to assign member to project, has formal power (in function. orga.)