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MGI513

Charles Sturt - MGI513 - Enterprise Project Management

QuestionAnswer
What is a project? A project is a temporary endeavour undertaken to create a unique product, service or result.
Name the 5 majority characteristics of projects. 1. An established objective.<br />2. A defined life span. <br />3. Usually involvement of several departments and professionals. <br />4. Typically, doing something which hasn't been done before. <br />5. Specific time, cost and performance requirements.
Name the 4 phases of the project life cycle. 1. Defining <br />2. Planning <br />3. Executing <br />4. Closing
What is a program of work? A group of related projects, designed to accomplish a common goal over an extended period of time.
What is portfolio management? Project management oversight at organisational level through to project level. Serves as a bridge between senior management and project teams.
Name the major functions of portfolio management 1. Oversee project selection <br />2. Monitor aggregate resource levels and skill <br />3. Encourage use of best practice <br />4. Balance projects in the portfolio to an appropriate risk level for the organisation <br />5. Improve communication among sta
What is the typical sequence of activities of the strategic management process? 1. Review and define the organisational mission. <br />2. Set long-range goals and objectives. <br />3. Analyse and formulate strategies to reach objectives. <br />4. Implement strategies (through projects).
What are the characteristics of objectives? Specific <br />Measurable <br />Assignable <br />Realistic <br />Time related
What is the implementation gap? The lack of understanding and consensus of organisational strategy among top and middle level managers.
What are the benefits of project portfolio management? * Builds discipline into project selection process. <br />* Links project selection to strategic metrics. <br />* Prioritises project proposals on criteria, rather than emotion or politics. <br />* Allocates resources to projects that align with strategic
Why should an organisation not rely only on ROI to select projects? Projects may have strategic value outside direct financial return:<br />* Capture market share <br />* Raise entry barrier for competitors <br />* Enable profit indirectly by creating enabler products or new core technology <br />* Reduce dependency on su
Name the three structural approaches to project management. Functional, matrix and dedicated team.
What distinguishes a weak matrix structure from a strong one. Weak matrix structure is more closely aligned to the functional model - functional managers have more authority and project managers exist only to facilitate project implementation.
What are the seven factors which should influence the choice of project management structure? * Size of project<br />* Strategic importance<br />* Novelty and need for innovation<br />* Need for integration (multiple department involvement)<br />* Environmental complexity (number of external interfaces)<br />* Budget and time constraints<br />* St
What are the six elements of a typical scope statement? 1. Project objective<br />2. Deliverables<br />3. Milestones<br />4. Technical requirements<br />5. Limits and exclusions<br />6. Review / agreement with customer
What questions does a project objective answer? What, when and at what cost.
What are the three categories which can be applied to project priorities? Constrain, enhance, accept
What are the major groupings found in a Work Breakdown Structure? * Project<br />* Deliverable<br />* Sub-deliverable<br />* Lowest sub-deliverable (can be assigned to a single person)<br />* Cost account<br />* Work package
Name the six key elements of a work package. * Defines work (what)<br />* Defines time to complete (how long)<br />* Defines a time-phased budget (cost)<br />* Identifies resources (how much)<br />* Identifies person responsible (who)<br />* Identifies monitoring points for measuring progress (how w
What is an OBS? The Organisation Breakdown Structure is used to define the organisational units responsible for performing work within a WBS.
What is the purpose of an OBS? To provide a framework to summarise organisation unit work performance, identify organisation units responsible for work packages and tie the organisational unit to cost control accounts.
What questions does a communication plan attempt to address? * What information needs to be collected and when?<br />* Who will receive the information?<br />* What methods will be used to gather and store the information?<br />* What are the limits, if any, on who has access to certain kinds of information?<br />*
Created by: 671405992