Project Context Flashcards
Definition of Project Context
Projects take place within a ‘context’ or ‘environment’ and the successful accomplishment of a project generally requires significant appreciation of the context in which it is based
PESTLE
Political - e.g. effects of a change of government
Economic - market volatility, xe rates, inflation
Sociological - any impact on health/living standards
Technological - how mature is the tech? Legal/regulatory - is new legislation likely?
Environmental - any undesirable impact?
SWOT
Internal:
- Strengths
- Weaknesses
- e.g. project/product portfolios, production facilities, staff, IT systems etc.
External:
- Opportunities
- Threats
- e.g. PESTLE elements
VUCA
Far more sophisticated way of looking at context
VOLATILE - speed of change - industry, market, world e.g. turbulence in supply & demand, political upheaval
UNCERTAINTY - ability to predict future. Projects involve uncertainty but that can be compounded by external uncertainty. How to address uncertainty is dealt with in risk management
COMPLEXITY - number and variety of things we need to consider - no. of things, how they interact and relate, determines overall complexity of project. More complex the project, more likely it is to fail
AMBIGUITY - incomplete info, inaccurate, not available. May have to make assumptions which may turn out to be wrong
What is Governance?
Governance is the framework of authority and accountability that defines and controls the outputs, outcomes and benefits from projects, programmes and portfolios.
What is the Aim of Project Governance?
To enable effectiveness of projects, ensuring that projects are carefully selected and done well.
Highly dependent upon presence of properly implemented project methodology. Proper governance impossible without it.
Governance Principles
- Projects should be clearly linked to business objectives
- There should be clear s. management ownership
- There should be effective engagement with stakeholders
- Leaders must have required project & risk management skills
- Should be appropriate contact at snr level with key suppliers
- Projects should be driven by long-term value, not short-term cost
- Projects should be broken down into manageable steps
4 Key Components of Project Governance
- Portfolio Direction - all projects should be aligned with corp goals and objectives. If not, should be stopped
- Project Sponsorship - all projects should have appropriate sponsor who PM reports to. If not, link to corporate goals is lost and projects can go out of control
- Project Mgt Effectiveness - Project should be managed by someone with knowledge skills and experience fitting to the size and complexity of the project. Project teams should have skills and competence and appropriate resources. Effective delegation
- Disclosure & Reporting - all appropriate stakeholders kept aware of progress. Timely, accurate, open and honest
What are Project Methodologies?
A collection of policies, procedures, guidelines, templates and methods which together define how projects should be run.
Without standard methods, PM is practised in an ad-hoc and inconsistent manner. PMs develop own ways of working and reporting, always reinventing the wheel.
Basic Components of a Project Methodology
- Mandatory policies & procedures for initiation, execution, phase reviews and project closure
- Methods, processes & tools e.g. risk management, change control, quality assurance
- Defined roles, responsibilities & authority levels
- Suggested project organisation structures
- Defined lifecycle(s)
- Inputs & outputs for each lifecycle phase
- Reporting standards
- Document templates
- Lessons learned archives
Benefits of a Methodology
- Clear & consistent approach with agreed decision points
- Standardised methods & processes
- Faster implementation - less reinventing the wheel needed
- Encourages learning from project to project
- Fewer misunderstandings through using common language
- Common format makes project handover easier
- Fewer conflicts as R&R’s defined upfront
- Effective communication
- Checklists & standard approaches reduce support needed by less experienced PMs
