Unit 3 Flashcards
Project Life Cycle Benefits
1 - Management Control - Phases with gates - go/no go decisions
Gates allow Sponsor and management to review past phase and plans for next phase
2 - Easier to manage - mini projects each phase, so managed and planned accordingly. Phase reporting assists focus
3 - Planning (resource and budget)
4 - Lessons Learnt - capture and learn at gates, lead into next phase
5 - Consistent delivery - increase efficiency and effectiveness - easier training, movement between projects
Concept Phase
Sponsor appointed Need confirmed and investigated High level requirements Alignment with portfolio/programme is checked Options evaluated (do nothing?) High level benefits, costs & risks Stakeholders identified Phase plans made Outline Business Case developed & signed off Gate to proceed
Definition Phase
Develop Project Management Plan
Update Business Case
Appoint PM
Test preferred option against high level requirements
Consider alternative designs and confirm preferred solution
Develop scope
Detailed plans (processes to be used, timescales, resources, roles & responsibilities, budgets, procurement, quality, HSE, etc)
Create PMP & sign off
Gate to proceed
Development (Implementation) Phase
Implement PMP Develop and deliver solution/product Optimise & sign-off design Execute project through work packages PM monitors and controls activities, to ensure delivery to time, cost, quality Manage risks, issues, changes Reporting progress to Stakeholders Hold end of stage reviews (Gates) and sign off to proceed (eg design freeze) Get ready to hand over project Gate to proceed
Handover/Closure Phase
Ensure project outputs are handed over and accepted by Sponsor Formally handed over Documentation handed over Paid in full Archive project documentation Close project team Review project performance Lessons learned Final report to Sponsor Gate to close project
Extended Life Cycle
Benefits measured and realised
Issues, problems and opportunities identified and actions take to maximise benefits
Reviews - List & Benefits
Gates Project Evaluation Peer reviews Audits Post project reviews Benefit reviews
Increase confidence of Key Stakeholders Identify Opportunities Focus/reflection Support Governance Recognise achievements Lessons Learned Increased likelyhood of delivering project successfully
What happens in Handover/Closure Phase
Handover Project - customer sign off Close down project - complete documentation, disband team Review project - against PMP Lessons Learned Prepare for benefit review
Benefits of gate reviews
Still viable, on track to deliver benefits Go/no go control for Sponsor Allow termination of projects unviable Review spend to-date against planned Forecast next phase plan Continued buy-in from stakeholders
Post project review vs Benefits review
PPR short term review, BR more long term
PPR projects lessons learned, BR organisational wide teachings
