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Flashcards in No.1 Deck (17)
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1
Q

What is a project

A

A project is a planned temporary endeavour undertaken to create an unique product or service or other complete and definite outcome (deliverable) with a limited time scale and budget

2
Q

Temporary v unique projects

A

Temporary project has a definite beginning and end and is usually divided into phases

Unique is different in some distinguishing way eg deliverables produced, stakeholder influences, resources used etc…

3
Q

Why do projects fails

A

Standard sources of failure:

Organisational issues(attitudes, practices and structure)
Poor identification and management of needs and requirements

Poor planning and control

4
Q

Value creation framework

A

Value creation framework.

Strategy (identify) > opportunity (select) projects (contribute) > benefits

5
Q

Project darts and ends

A

Project starts when the project is mandated

Project ends when the project deliverables has been accepted or if project has been prematurely terminated therefore all project documentation is delivered and all closure activities have been completed

6
Q

Pbo value chain : 3 segments

A

Directing activities = strategic, marketing, technology management etc

Primary activities = pre project, project execution, hand over etc

Support activities = project support management, procurement management, financial management etc

7
Q

Project priority matrix

A

Project priority matrix
One links to cost time quality

Constrain (fixed). Quality
Enhance (optimise) cost
Accept (trade off) time

8
Q

Three dimensions of project management

A

Three dimensions of project management are cost time and quality

Quality = realised performance / expectations

9
Q

Project quality framework

A

Project quality framework consists of;

Realising the product:
Expectations requirements

Quality of deliverable fit for purpose

10
Q

Project life cycle phases

A

Investigation = was it done before, what are the risks, boundaries etc
Need idea task opportunity
Definiton = is approved proposal scoped planned communicated with
Proposal to management / sponsor

Mobilisation = officially launched, formal kick off, project infrastructure etc
Project plan of execution
Implementation = project scope is managed with budgetary time and operational constraints
Functional project plan

Close out= all projects must be formally stopped

11
Q

Project phase and stage characteristics

A

Marked by completion of deliverables

Review to decide on continuation and to detect and correct errors cost effectively

12
Q

Stakeholders

A

Project stakeholders are people or organisations who are affected have influence or interest in businesS.

Need to be delivering value, managing relationships and managing risk

13
Q

Project charter

A

Project charter is a document that formally authorises a project.

Issued by manager or executive

For project under contract the signed an approved contract could serve as a project charter

Should include; objectives, p or s descriptions, benefits, assigned responsibilities

14
Q

Project scope

A

Project scope is a document that defines the contractural obligation. It confirms or develops a common understanding of the project scope among all stakeholders.

It includes:
Projects justification, deliverables, stakeholder acceptance requirements

Scope must be smart

Typical problems of one are:
Omissions
Contradictories
Ambiguities

15
Q

Product breakdown structure PBS

A

Product breakdown structure is a breakdown of the projects major products, outputs or deliverables

16
Q

Product flow diagram / pre requisite tree

A

Product flow diagram is used to identify the sequence in which The products are needed or should be developed on the project including the dependencies between them

It includes: product flow diagram, milestones, work activities and schedules

17
Q

Basic principles of project planning

A

Project by nature have different levels of uncertainty:

Phased planning is required only when major decision points are required
Only plan one phase at a time
Don’t try to be to accurate