Weaknesses

Question 1

1.7 Explain why aspects of project management governance are required

Answer 1

• Governance is the framework of authority and accountability that defines and controls outputs, outcomes and benefits from projects, programmes and portfolios
• It is a mechanism for financial and technical control
• The steering group is the governance board
• Business change governance is most applicable to project work, as opposed to operational governance (corporate governance is also important)

It has the following 4 benefits:

• provides confidence to stakeholders
• ensures there is a business case
• ensures there is a recognised life cycle
• ensures there are clearly defined processes and documentation (reviews and audits, PMP, RAM, communication plan

Question 2

What are the stages of an iterative life cycle?

Answer 2

• Pre-project
• Feasibility
• Foundation
• Evolutionary
• Deployment (repeats with assemble, review, deplo)
• Post-project

Question 3

3.5 Describe where portfolio management may be appropriate

Answer 3

Where:

• you need assurance of alignment with strategic objectives
• where financial controls need to be applied
• there is need for discrimination between projects and BAU
• you need to verify the organisation has the necessary capabilities for work
• you want to develop a supplier pipeline (sustainable engagement)
• you need evidence of engagement with customers

Question 4

4.3 State factors which can positively or negatively affect communication

Answer 4

Many factors can be influence communication in a project

• Type/method of communication and body language (verbal, non-verbal, written, virtual)
• Use of technical terms (shared understanding but can be obfuscating so should provide people with supplmentary info)
• Organisational culture and structural hierarchies (intimidation vs engagement)
• Time zones and geography (meeting timing norms, compensation for out of hours working)
• Physical and environmental (feeling safe leads to better communication)
• Planning of communication (ensuring it’s timely, relevant, consistent)

Question 5

What is the name of the model used to address conflict?

Answer 5

Thomas-Killman

Question 6

5.5 Explain which factors influence the creation, development and leadership of teams

Answer 6

You don’t necessarily get to choose who joins the team but you have to lead it

Tuckman Model: progress through team stages is facilitated by effective leadership.
* Forming (first point of contact, guarded, leader to make things inclusive and objectives clear)
* Storming (personalities develop, conflicts arise, conflicts need to be managed and resolved)
* - Norming (cooperation increases, focus on tasks, leader to provide process, clear roles and responsibilities, feedback)
* - Performing (delivering targeted performance, problem solving and motivation high, leader should ensure performance is maintained with openess and development of relationships, stopping team reverting)
* - Adjourning (added later, acknowledges effort of team leader in preparing team for end of project and transition back into org)

Another factor that’s been considered is the influence of different personalities working together. Use the Belbin model.

Belbin described nine social roles that people adopt

Indivduals will perform better if they are given a role that suits their strengths

• Action cluster (shaper (drive), completer finisher (subject output to quality control), implementer (plan and carry out efficient strategy))
• Social (team worker (diplomat, versatile), resource investigator (finds ideas), coordinator (focus on objectives and delegate))
• Thinking (plant (support for problem solving and obstacles), monitor evaluator (logical, impartial judgements), specialist (distinct strengths in a narrow area))

Question 7

6.11 Explain the relationship between stakeholder analysis, influence and engagement

Answer 7

• To ensure success of project, we need to engage stakeholders
• We need to first analyse the stakeholder by assessing their influence (power+interest), opinions on the project, and how risky this is to visability and success of project
• We then need to plan how to enage with them based on these factors
• We should understand how they might react to different communication approaches, and determine what will be most successful to create an engagement plan.
• Two things to note. Firstly, we may or may not want stakeholders to engage with on another
• Secondly, the objectives of stakeholders will rarely be aligned (finance director vs supplier) so political skill is involved in assuring maximum satisfaction

Question 8

6.6 Explain the relationship between the deployment baseline and the development of a project management plan in linear and iterative life cycles

Answer 8

The project management plan incorporates the scope, schedule, cost, risk, quality and resources of a project

The fundamental of this form the deployment baseline which is approved, along with the PMP

The project then proceeds to the deployment phase where the deployment baseline will be used for progress monitoring and implementation of change control

In a linear life cycle, the assumption is that all work can be defined, estimated, scheduled, risked, resourced and costed at the beginning. A baseline can be established from which deployment can be managed and controlled. Scope and quality as drivers and time and cost are negotiated in reference to them.

In an iterative lifecycle, a baseline plan is still required but assumption is not that all elements are known (flexibility and agility is needed). Resources and schedule are drivers and scope and quality are negotiated in reference to them.

Question 9

6.12 Explain the importance of managing stakeholder expectations to the success of the project

Answer 9

Managing stakeholder expectations is important to the success of a project for the following reasons:

• It enables more effective risk management (stakeholders are influential and therefore carry risk to the viability, perception and reception of a project)
• It requires improved comms planning (how, why, when and what to communicate)
• This enables more effective engagement with stakeholders in which feedback is incorporated into the project, positive interest is sustained
• It ensures a more productive project team is formed (as internal stakeholders with expertise can be incorporated into the team)
• It increases the likelihood of a project being accepted (fulfilling needs and clarifying these early in project)

Question 10

6.14 Interpret earned value data

Answer 10

• The cumulative cost plan for the project can be shown on a graph (usually as s curve)
• At any time, the s-curve can be viewed and the the budgeted cost of the scheduled works (BCWS), the actual cost of the of the work that has been performed (ACWP), and the earned value (BCWP) can be plotted
• This allows you to analyse the relationship between these figures to identify cost and schedule variance
• BCWP - ACWP = cost variance
• BCWP - BCWS = schedule variance
• This can forcast future performance and also allow you to assess project status (and associated issues)

Question 11

6.1 Explain the importance of a business case throughout the project life cycle

Answer 11

• A business case provides justification for undertaking a project or programme, evaluating the benefits, costs, risks of different options
• It usually includes a strategic case (aligning with strategic objectives), economic case (best value for money), commercial case (commercial viability), financial (funding availability), management case (how and by whom will change be delivered)
• Business cases are important because, if a case is ill-defined, the project will always have trouble being delivered and is unlikely to realise benefits
• It is essentially a contract between the project and business so targeted benefits are clear
• Throughout the life cycle: Concept (launchpad, justification), Definition (most effective project management plan selected), used at gate review), Deployment (referenced to ensure ongoing viability) , Transition (reference to test whether benefits have been realised)

Question 12

6.2 Explain what is meant by benefits management

Answer 12

Projects are initiated in order to deliver change that will bring about benefits

These need to be managed to ensure that they’re realised

Benefits Management Plan: explains how benefits will be managed. It has five stages.

Identification: Benefits outlined and recorded with justification and measurement criteria

Definition: Benefits modeling and mapped to understand how benefits will be realized when transitioned in operational use.

Planning: Capturing baseline measurements, identifying timelines and milestones and targets

Tracking: Tracking whether benefits are being embedded through use of the output

Realisation: When benefits are realised, includes longterm actions and monitoring to ensure they continue + opps for additional benefits

Question 13

What is the parametric method of estimation?

Answer 13

Parametric: This method uses historical data and statistical relationships.

The specifications of each deliverable are established. Then unit rates would be applied (such as price books) to create an overall cost or schedule estimate.

Provided the scope is accurate and conditions that inform the work and norms are similar, this can be a very accurate method.

Good for deployment stage.

Question 14

What is the name of the estimation method where supplier and delivererer estimates are added up?

Answer 14

Analytical

Question 15

6.10 Explain the reasons for and benefits of re-estimating throughout the project life cycles

Answer 15

An estimate is inherently uncertain

However, as the project progresses, uncertainty will decline and a new, more accurate estimating can be done (estimating funnel)

The benefits of resestimating are:

• Reduced contingency reserves
• Technical experts added to project team so accuracy can be increased
• Opportunity to incorporate lessons learned: variances and trends can be incorporated into the next estimates
• Increased likelihood of adhering to overall estimates (actions can be taken early to respond to variances)
• More confidence for stakeholders that project will be delivered successfully
• Minimising effect of estimating error (timely warning of errors)

Question 16

6.7 Explain the importance of producing a project management plan

Answer 16

• The PMP is produced by the PM through engagement with all relevant stakeholders
• It is the plan for the project and how it is to be carried out
• It acts as a contract between the project manager and sponser (clarifies requirements, expectations)
• It is used as a reference by all stakeholders to understand and monitor the project
• It is important because it ensures continuity throughout deployment (even if there is staff turnover)
• It can be useful in monitoring and performance reviews

Question 17

How should you think of contingencies in iterative life cycles?

Answer 17

When using an iterative life cycle, it might be more useful to think about contingencies in terms of scope and quality (resources are pre-approved). Timeboxes might have lower priority items that can be sacrificed.

Question 18

6.15 Explain the benefits of using the interpretation of earned value data

Answer 18

Interpreting earned value data is useful because:

• it enables objective measurement and reporting or project status
• supports effective management of resources, identifying areas that are impacting performance
• establishes basis for estimating final cost and schedule by using earned value in cost performance index and schedule performance index projections
• it provides means of assessing change

You do this by using these formulas: BCWP/ACWP = CPI, BCWP/BCWS = SPI

It is important to note that interpreting earned value is useful but it’s only an indicator of project progress

Question 19

7.3 Explain how to manage scope through configuration management processes

Answer 19

The ‘configuration’ is the functional and physical characteristics of the final deliverable informed by the Product Breakdown Structure

Configuration management refers to all activity involved in creating, maintaining and changing a scope of work

Once baselined, configuration is subject to formal change control and configuration management.

This ensures that the current version is always known and there is traceability between versions.

Configuration management consists of:

• Planning: outlines procedures, roles, responsibilities
• Identification: breaking down a project into configuration items and creating a referencing system
• Control: changes to configuration are controlled
• Status accounting: records and reports that relate to a deliverable - showing all changes, and when they were done by whom
• Verification: Determining whether a deliverable conforms to requirements and configuration information

Question 20

7.1 Explain how to define scope in terms of outputs, outcomes and benefits

Answer 20

Scope is the totality of the outputs, outcomes, benefits and the work to achieve them

Scope of work can be identified using a product breakdown structure (PBS),a hierarchical structure with the final product at the stop and all smaller constituent parts lower down. It can be used to do ensure that the products identified are what stakeholders expect.

The project manager would use this in conjunction with a work breakdown structure (WBS), which details the activities and work packages required to deliver output.

Where the objecive is well understood at the start (e.g building a house), the scope is generally defined as accurately as possible at the beginning.

Where the objective is less certain (e.g. iteratively developing a video game), this needs to be more flexible, with priorities defined by stakeholder engagement.

Question 21

7.2 Explain how to establish scope through requirements management processes

Answer 21

Project requirements are set by stakeholders

Requirements management is the process of capturing, assessing and justifying stakeholders’ wants and needs via a structured process

Here are the key stages:

• Identification (requirements through interviews, surveys, workshops)
• Analysis (in terms of schedule, cost, investment, value)
• Consultation and Agreement (stakeholders debate around options, strategic objectives, funding, acceptance criteria)

Worst-case is delivering only must-haves as a minimal viable product (MVP)

Question 22

8.1 Describe ways to create and maintain a schedule

Answer 22

• Scheduling allows you to plan when each task or work package in a project should be completed in order to work to final deadlines
• Scheduling products exist but you should have a general understanding before using
• You develop this from the work breakdown structure and estimates for each task for effort/duration
• You then create the schedule by planning out when everything needs to be performed, taking into consideration optimisation, dependencies and resource availability
• You should then verify that the defined schedule meets success criteria
• Dependencies can be shown on a network diagram. A Gantt chart can show dependencies and scheduling. A histogram can show resource requirements.

Question 23

8.5 Differentiate between resource smoothing and resource levelling

Answer 23

Resource levelling: when resources are limited by time is more flexible. Could redefine scope of activities to be undertaken by a specific resource and moved to another. Redefine the specification (without change to quality of product). Increase task duration to reduce overall resource requirements. Increase resources on earlier work so peaks are avoided later down the line. Moving activities not on critical path to reduce demand at peak times.

Resource smoothing: when time is more important than cost. Could add more resources to complete a task and aiming for smooth use of resources without peaks and troughs, optimising flow of resources from one task to another). Resource smoothing will only help duration of project if applied to critical path activities (Wouldn’t have an impact if applied to those with float). Redefinition of order of work may be required (moving things to happen simultaneously, for example).

Question 24

8.6 Differentiate between cost planning for iterative life cycles and for linear life cycles

Answer 24

Cost planning is an essential part of the project management process. Project manaers need to understand where costs fall in their schedule to manage resource demand, supplier payments and funding requirements

In an iterative life cycle, the release of funds may be more frequent due to short intervals of work produced and close work with sponsor

In linear life cycle, funds may only be released at decision gates, where current costds are understood and future costs approved

Question 25

8.2 Differentiate between critical path and critical chain as scheduling techniques

Answer 25

There are two principles types of scheduling: critical path and critical chain The critical path approach places the emphasis on the activities in a project and understanding the shortest time to complete activities in a logical order. To do this, dependencies need to be agreed. This allows a precedence network to be determined. Then estimates of duration can be made (three point estimate if possible - best, worst, most likely). The critical path is the sequence of activities through the precedence network from start to finish. The sum of their duration is the overall duration. Some activities float (happen simultaneously with other longer aspects) and can be extended without extending overall duration of project. When using an iterative life cycle, a timebox approach is used (using Gantt chart) rather than estimating time and cost (a fixed period of time with determined resources during which scope is performed to the best quality possiblle) The critical chain method (resource critical path) places the emphasis on the resources in a project rather than activities. It wants to keep resources at a constant utilisation. When resources are estimated , there are various aspects that will influence how that activity will ultimately be performed, its duration and effect on successors (skills, abilities, tools). If a task finishes early, usually someone tries to over-deliver or catch up on something unrealted. If it’s late, it has an affect on succeeding activities. The benefit of early completion is lost where late has to be absorbed. The critical chain attempts to rebalance this. The simplest critical chain approach takes the estimated duration for each activity and reduces it by 50% to create a time contingency. Rather than added to the task, it’s added as a buffer to a critical chain of activities. For it to work, resources need to be available which requires work between team and stakeholders. It depends on a culture which understand estimates and the role of the buffer. Focus is on maximum productivity on set task rather than deadlines. Rate of the consumption of the buffer is used to control project schedule (reported to stakeholders using fever chart).

Question 26

9.1 Explain the purpose, typical content and importance of a procurement strategy

Answer 26

Purpose: to set out the high level approach for securing goods and services required from external suppliers. It addresses and contains: - make or buy decision (internal capability vs what the market is capable of delivering) - how much risk should be retained in the project and how much shared with suppliers - what type of relationship is required with different suppliers (multiple or single) - forms of contract - methods of supplier reimbursement - supplier selection process

Question 27

9.2 Differentiate between different methods of supplier reimbursement

Answer 27

Payment mechanisms are used to achieve the appropriate allocation of risk and also encourage suppliers to perform Five types of reimbursement: - Some projects or programmes lend themselves to a strategy where the supplier finances development in return for receiving fee for operation (e.g. building a bridge and then collecting tolls) - Fixed price: Fixed price is agreed for a defined scope. Where the scope of work is delivered for a greater cost to the supplier, they have to fund the difference. The customer has low risk but supplier might try to cut corners (which brings schedule and performance risk) - Cost plus fee: Where the customer agrees to pay for all costs plus an agreed fee (sometimes a percentage) for profit. High risk to the customer because they agree without knowing final cost. Used in complex projects where estimates are difficult. Can be used to incentivise suppliers. - Time and material per unit quantity: Where a price is agreed for a unit quantity of material or time. The highest risk to customer as final cost isn’t apparent until the very end. Necessary when customer has little idea of the scope of work. Risk can be reduced through robust contract management. Less performance risk to customer. - Target cost: Target sum is agreed in advance by both parties who expend but efforts to reach it. If the final cost is more or less, the surplus or excess is shared between customer and supplier. This is typical where there are opportunities for incentives.

Question 28

Briefly describe the benefits and risks of different types of contract

Answer 28

One comprehensive contract: all work with one supplier - risk, simple Sequential contract: detailed design before committment, don't know what final costs will be when start, interaction between stages must be managed well Subcontracts: Less risk and resource with customer. Customer may only have indirect ability to assess and influence so conditions may be necessary for sub-contracting. It also lessens the possibility of pipeline work for suppliers and therefore may lead to poorer performance. Parallel contract: competition and different capacities, but have to be careful not to compromise on quality Partnering/Joint Venture: large complex projects

Question 29

10.1 Explain each stage in a risk management process

Answer 29

Risk management is a process that allows individual risk events and overall risk to be understood and managed Thereare fives stages: Initiate: ensure common understanding, starting the risk management plan Identification: identify specific risk events through brainstorming, checklists, SWOT analysis, workshops. Document them in a risk register. Analysis: severity of risks (alone and combined), quantitative techniques, potential impacts, colour coding risks through probability/impact grid Response: determine whether to take risk or it’s best to proactively invest time and resources in lowering risk (implement this) Closure: closing each risk if it passes or happens and is dealt with

Question 30

10.3 Explain the benefits of risk management

Answer 30

There are 7 key benefits: - More credible plans = better stakeholder confidence - Not going ahead with unviable projects (forces realism) - Increased likelihood of project adhering to schedules and nidgets - Meaningful assessment and justification of contingencies - Build up of statistical information in an organisation - Helps develop staff abaility - Facilitates greater innovation and smart risk taking

Question 31

10.4 Explain the key aspects of issue management

Answer 31

An issue occurs when agreed tolerances are breached (e.g. budget goes over 10% overspend) and contingencies don’t cover it Managing issues involves: - Identification (and logging on register) - Analysis (to understand causes and impacts, prioritising any issues) - Escalate: escalate to sponsor - Assign to best person to address the issue - Progress through change control and record in PMP - Close

Question 32

11.1 Explain what is meant by quality planning

Answer 32

‘Quality’ is the fitness for purpose or the degree of conformance of the outputs of a process to requirements Quality management is a displine for ensuring that the outputs, benefits and processes by which they are delivered meet stakeholder requirements. This starts with quality planning, which is part of the PMP. Guides the planning of quality controls and assurance activities throughout the project It takes the defined scope of the project specifies what is needed for requirements to be met. This includes - desired attributions - how to measure these - references to regulations, standards, specs, values - how frequently checks are to be carried out