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BMT202 PM Unit 1 Assessment

Lizzy Crockatt BMT202 Year 2 English 81 cards

Explain the Power-Interest Matrix for Stakeholders.

Cards in this deck (81)

  1. 1What is a Project?- A group of tasks with a common end
    - a temporary management environment created for the purpose of delivering one or more business products
  2. 2Common Features of a Project- both routine and non-routine tasks involved
    - required planning
    - set resources
    - work may be carried out by someone other than you
    - maybe large or complex
    - separated into different pieces
    - may involve specialists
    - set timeframe
    - specific objectives/deliverables
  3. 3What is project management?the application of processes, methods, knowledge, skills, and experience to achieve project objectives
  4. 4What is a Stakeholder?All those who will make a meaningful contribution to a project (out with the project team usually)
  5. 5What is a shareholder?Someone who owns a part of a company
  6. 6Name some causes of project failure- lack of upper management commitment
    - poor expectations management
    - poor estimating techniques
    - over optimism
    - inadequate people management skills
    - failure to adapt to business change
    - insufficient resources
    - failure to manage the plan
    - lack of training
    - lack of PM method
  7. 77 Golden Rules of PM1. Good time management is essential
    2. Watch for Scope Creep
    3. Keep on top of costs
    4. Set quality parameters
    5. Scan for issues from any areas
    6. Be flexible
    7. Don't just manage, lead
  8. 8What does PRINCE stand for?PRojects
    IN
    Controlled
    Environments
  9. 9Who owns PRINCE2capita + the gov
  10. 10What are the 3 levels of PRINCE2Foundation
    Practitioner
    Agile Practitioner
  11. 11Is PRINCE2 required for Gov projects?Yes
  12. 12What are the 7Principles of PRINCE2?1. Continued Justification
    2. Learn from experience, doing, and reflection
    3. Defined roles and responsibilities
    4. Manage by stages
    5. Manage by exception
    6. Focus on products
    7. Suit project environment
  13. 135 aims of starting up a project - PRINCE21. Make the project aims clear
    2. Assemble project team
    3. Choose project approach
    4. Agree quality expectations
    5. Plan work to draw up the management contract between supplier and customer
  14. 14When identifying goals, what should you do? (SMART)Specific
    Measurable
    Attainable
    Relevant
    Time Bound
  15. 1512 Rules of Good PM1. Gain consensus
    2. Find a good team
    3. Create a comprehensive viable plan and keep to it
    4. identify resources you need
    5. Create a realistic schedule
    6. Don't try and do more than what can be
    7. People count
    8. Get and keep support of all stakeholders
    9. Be willing to change
    10. Keep others informed
    11. Be willing to try new things
    12. Be a leader
  16. 16What are the 4 Business Case Considerations when Initiating a Project?- Operational (PIECES)
    - Technical
    - Schedule
    - Economic
  17. 17What do you need to consider (PIECES) when initiating a project, specifically looking at the operational level of business case considerationsPerformance
    Information
    Economy
    Control
    Efficiency
    Services
  18. 18What are Functional Requirements?What the system should do
  19. 19What are non-functional requirements?They define performance levels
  20. 20What are resource requirements?How much the company is prepared to spend to get the system
    (what is the specification for resources within our project?)
  21. 21What are the 5 things your requirement specification document should contain?- functionality
    - external interfaces
    - performance
    - attributes
    - design constraints imposed on an implementation
  22. 22What are 6 good features of requirement specification- correct
    - unambiguous
    - complete
    - consistent
    - ranked by importance
    - verifiable
  23. 23What is a WBS?They are a hierarchical decomposition of a project into phases, tasks, and activities
  24. 24What are the 3 approaches to WBS?- activity based approach
    - product based approach
    - hybrid approach
  25. 25What level of a WBS represents what is to actually be done?Bottom levels (ends of branches)
  26. 26What is a product based approach to WBS?The idea is to consider the products that will result from the project.
    - focus on 'what'
    - often easier to identify product than how to create them
    - once products identified, other things such as quality standards are easier to define
  27. 27What WBS approach does PRINCE2 take?Product based
  28. 28What is Forward Scheduling?Establish a start date and then schedule moving forward from THAT date.
    The project completion date is calculated based on the planned duration of the required tasks, their interdependencies, and the allocation of resources to complete those tasks well.
  29. 29What is Reverse Scheduling?Establish the deadline (end date) then reverse schedule the project.
    Look at tasks (duration, interdependencies, resources) that we consider are required to enable us to meet that dealine.
  30. 30Why do we use CPA?- most common method of project activity planning
    - helps determine minimum project time
    - used as a basis of control
    -diagrammatic technique and pictorial representations make easier to read/understand
    - CPA and network diagrams associated with it also shows/aids the sequence of activities, resources, and financial planning.
  31. 31What is CPA?Using the inter-task dependencies, determine every possible path through the project
    For each path, sum the durations of all tasks in the path
    Path with longest total duration is the critical path.
  32. 32What are 5 problems associated with CPA?- too much attention paid to the critical path (other paths may slip and critical path may change)
    - experience needed to gauge duration
    - difficulties in separating tasks
    - only deals with numbers
    - doesn't guarantee good project management
  33. 33How do you calculate Earlier Finish in CPA?Earliest Start + Duration
  34. 34What should both the earliest start and finish be on the starting node (CPA)?0
  35. 35How do you calculate Latest Finish in CPA?Latest finish of the previous node - Duration
  36. 36How do you calculate the Float (CPA)LF - Dur - ES
  37. 37What is the Duration calculation (average)?(((1xOD)+(4xED)+(1xPD))/6)
    D= duration
    O= optimistic
    E= expected
    P= pessimistic
  38. 38What is Sequential Activity in CPA?These activities need to be completed in sequence.
  39. 39What is Parallel Activity in CPA?Activities are not dependent on completion of any other tasks. Can be done at any time before or after a particular stage is reached.
  40. 40What are Trigger Events?Individual actions, mistakes, or problems that lead to or contributed to the failure.
  41. 41What are Behavioural Patterns in PM?Broader structural problems in the way the project is approached or managed.
  42. 42What is the Optimistic Duration?The minimum time it could take to perform a task
  43. 43What is the Pessimistic Duration?Maximum time it could take to perform a task
  44. 44What does PERT stand for?Program Evaluation and Review Technique
  45. 455 Objectives of Planning?-Feasibility Assessment
    - Resource Allocation
    - Detailed Costing
    - Motivation
    - Co-ordination
  46. 46Identify 5 Resources- people
    - services
    - facilities + equipment
    - supplies + materials
    - money
  47. 473 Resource considerations?- cost estimates
    - availability
    - quality and output
  48. 48What is a constraint (resources)?Limitations
  49. 49What is levelling (resources)?Strategy to correct resource over/under - allocation
  50. 50What is a constraint (time)?May be required to finish by certain time
  51. 514 Steps of Managing Project Risk1. Identify
    2. Analyse and Understand
    3. Plan
    4. Action
  52. 522 main variables concerned in qualitative risk assessment- Impact
    - Probability (Visibility)
  53. 53Total Risk Equation in Failure Mode Effect AnalysisTotal Risk = (Seriousness) x (Likelihood Unnoticed) x (Likelihood Occurrence)
  54. 54Candidate Riskidentified but not assessed risk
  55. 55Live Riskidentified and assessed risk
  56. 56Closed RiskMoved past period of time which it may have been realized - no longer a risk
  57. 575 Steps of Risk Management Process1. Identify Risks
    2. Analyse Risks
    3. Response Options to Consider
    4. Decide on Response to Risks
    5. How risk response plans will be developed
    (Identify, Assess, Plan, Implement, Communicate)
  58. 5813 Parts of PRINCE2 Risk Management ApproachIntro
    Risk Management Process
    Tools + Techniques
    Records
    Reporting
    Timing
    Roles/Responsibilites
    Scales
    Proximity
    Risk Categories
    Early Warning Indicators
    Risk Tolerance
    Risk Budget
  59. 59What can't be changed during discussion with stakeholders?Everything can be changed
  60. 60Can all identified risks be mitigated?No
  61. 61What are the reasons for creating a project network diagram and undertaking CPA?To help us identify the longest path
    Show th eorder in which activities should be performed
    Easier to understand diagrammatically
    Identifies floats/slack time
  62. 62What is important during negotiation?Knowing what you are willing to give up
  63. 63Is being part of your regular work a common feature of a project?No
  64. 64Does a WBS tell us what should be produced in a project?No
  65. 65Do your most influential stakeholders shape your project?Yes - you can use them to help shape your project at an early stage
  66. 66What kind of communication should you aim for with your stakeholders?Early and Frequent
  67. 67Four parts of stakeholder environmentConstraints
    outcomes
    Inputs
    Requirements
  68. 683 positive benefits of stakeholder involvement?More ideas
    Varied perspectives from differing sectors
    Buy-in + support
  69. 697 parts (benefits) of good stakeholder management- fair to everyone
    - saves time
    - prevents blindsided
    - strengthens position
    - increased chance of success
    - bridge social capital
    - improve organisation credibility
  70. 704 Parts of Stakeholder AnalysisIdentify
    Analyse
    Manage
    Check
  71. 713 categories of stakeholdersPrimary
    Secondary
    Key
  72. 72What is a primary stakeholder?Beneficiary/Target of effort.
    People or entities that participate in direct economic transactions with an organization.
    E.g., investors, employees, customers, and suppliers
  73. 73What is a secondary stakeholder?Directly involved or responsible for beneficiaries; jobs might be affected.
    People or entities that do not engage in direct economic transactions with the company
    E.g., local communities, local workforce boards, activist groups, business support groups and media.
  74. 74What is a key stakeholder?A stakeholder who has to power to prevent the project from achieving its full set of objectives and potentially may cause the project to fail.
    E.g., government officials, influencers, interested parties
  75. 75Explain the Power-Interest Matrix for Stakeholders.Explain the Power-Interest Matrix for Stakeholders.
  76. 76Why does conflict arise (stakeholder expectations and management)?- different expectations
    - inability to keep to the original timescales or budget
    - lack of understanding
    - unresolved issues resurfacing
    - physical distance (with no visual)
    - cultural differences
    - intermediary issues/misconceptions
  77. 77How do you resolve stakeholder conflict?- know desired outcome
    - triage conflict
    - agree a process
    - confirm positions
    - take action
  78. 78What is negotiation?The process of communicating back and forth to reach a joint agreement about differing needs or ideas
    A collection of behaviours that involves communication, sales, marketing, psychology, sociology, assertiveness, conflict resolution
  79. 79What are successful negotiation traits/tips?- define range of objectives (flexibility)
    - explore possibility of a wide range of options
    - ability to be prepared
    - set out priorities in advance
    - listen and question
    - know your 'friends'
    - remain calm and friendly (NO AGGRESSION)
    - neutral/friendly environment
    - know what you need
    - know what you are willing to give up
    - understand that both parties are under the impression that there is a possibilty of the other party changing their mind/modifying their original position
    - slow down if confrontation arises
    - dont be forced into a decision
    - know the ramefications
    - accept only acceptable alternatives
  80. 80What are the 10 key principles of stakeholder engagement?1. Communicate
    2. Consults; early and often
    3. Remember, they're only human
    4. Plan
    5. Relationships are key
    6. Simple, but not easy
    7. Its just part of managing risk
    8. Compromise
    9. Understand what success is
    10. Take responsibility
  81. 81Why do we do stakeholder analyses?Stakeholder analysis is useful for gaining awareness of who your organization impacts and who you depend on to fulfill your mission

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Project Management (Theory and Word Side)
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Lizzy Crockatt
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