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Flashcards by Anna Farrow, updated 20 days ago
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| Question | Answer |
| Projects / Programmes / Portfolios: Two Differences Between Projects & Portfolio | A1.1a: Timeframes: Projects - Tactical | - Specific | - Start & End A1.1b: Timeframes: Portfolio - Strategic | - Assess & Prioritise | - Coordinate & Realise A1.2a: Delivery: Project - Time, Cost, Quality | - Business Case & Objectives |- Change Initiatives A1.2b: Delivery: Portfolio - Business capacity, capability & priority | - Strategic business objectives | - Embedding changes |
| Projects / Programmes / Portfolios: Three Impacts of Compliance | A2.1: Legal & Financial - Action: Penalties, Indiv or Org - Strain: Project/Budget strain, delays - Impact: Reputation, abortive costs or prosecution A2.2: Stakeholder Confidence - Action: Confidence, ethics - Strain: Relationships, funding - Impact: Limit business growth A2.3: Disruptions & Delays - Action: Halt, Corrective Actions - Strain: Disruption, Diversion & Delays - Impact: Cost and time |
| Projects / Programmes / Portfolios: Three Aspects of PM Governance | A3.1: Processes & Documentation - Defined, Maintained, Best Practice, - Org req's, consistency, assurance - Configuration, control, accuracy A3.2: Recognised Life Cycle - Follow recognised cycle - Transfer governance - Phases and control points (stage gates) A3.3: Decision Making - Controls, Preparation, Outcome - Why, Impacts, Benefits -Assurance, Configuration |
| Projects / Programmes / Portfolios: Two Differences Between Projects & BAU | A4.1a: Duration & Objectives (Projects) - Temporary, Specific, Defined Objectives - Time, Cost, Quality A4.1b: Duration & Objectives (BAU) - Ongoing, routine operations - Continuous, core functions, performance A4.1b: Duration & Objectives (BAU) - Ongoing, routine operations - Continuous, core functions, performance A4.1a: Structure & Management (Projects) - Unique cross functional team of SMEs - PM matrix leading, coord & managing - Structured Framework A4.2b: Structure & Management (BAU) - Ongoing work, existing departments - Activities managed within existing Org structure & SOP |
| Projects / Programmes / Portfolios: Three Differences of Functional & Matrix Orgs | A5.1a: Reporting Lines (Functional) - Single Department, Single Manager - Clear hierarchy - Own goals and objectives A5.1b: Reporting Lines (Matrix) - Dual reporting lines - More complexity A5.2a: Resource Allocation (Functional) - Insular resourcing and management - Infrequent collaboration or sharing A5.2b: Resource Allocation (Matrix) Shared resourcing and management - Flexibility, Efficiency, Expertise A5.3a: Collaboration Communication (Func) - Siloed, limited collaboration - Risk of inefficiencies - Difficulties of addressing org-wide issues A5.3b: Collaboration Communication (Matrix) - Greater cross functional C&C - Better Problem solving, Decision making |
| Projects / Programmes / Portfolios: Three Whys for Programme instead of Project | A6.1: More Effective Delivery of Change - Greater strategic oversight & simplification - Stakeholder Management - Comms Consistency A6.2: More Effective Resource Management - Greater Prioritisation & Integration - Assess & Adjust Programme - Re/Assignment and optimisation A6.3: More Effective Risk Management - Risk identification and mitigation - Cross sharing statuses, opportunities, risk - Economies of scale |
| Projects / Programmes / Portfolios: Three Functions of Central Project Office | A7.1: Assurance - Independent, Audits, Reviews - Ally, Course Correct, Evolution - Assurance, Improvement Recognition A7.2: Centre of Excellence - Central Repository & Control - Lessons Learned, Improvement, Uniformity - Best Practices, Training, Uniformity A7.3: Specialist Skills - Specialist Skills - Central Shared Resource |
| Projects / Programmes / Portfolios: Three Benefits of Project Management Office | A8.1: Improved Project Delivery - Enhance Delivery, Tailored PM Support - Guidance, Best Practices, Compliance - Successes, Alignment, Improved Outcomes A8.2: Better Resource Management- Experts, Contributing, Optimal Resources - Support & Collaboration, Specific Skills - ie: Risk / Threats & Opportunities Mgmt - A8.3: Knowledge & Expertise - Knowledge & Information Mgmt Policies - Optimises costs, Curation & Archiving - Lessons Learned, Easy to find, No Repetition |
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