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Flashcards by minal Kotwal, updated more than 1 year ago
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Created by minal Kotwal
about 8 years ago
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| Question | Answer |
| Project plan includes: - A good project plan define in 1. detail the scope 2. detail project governance 3. working on the team structure 4. resoursing plan (in or out) 5. project environment 6. schedule, and the budget objective | What happens in the planning stage? You have to try answere these quesitons: - what work needs to be done? - who will do this work? - What resource will be needed to do do the work? - When will they do the work? - How long will it take? - How much will it cost? - Does the time, money, and resources invested support the project's MOV? (Measurable organisation value) |
| Project governance - A project govenance structure provides a framework to guide all the project decisions - This often includes the formation of a govenance committe that represents the different interests of the project stakeholders - This group is responsible and accountable for ensuring that the project aligns with the organisation's strategy and meets its intended MOV as documented in the business case | - The committe also establishes stakeholder roles, monitors progress, and ensure that the project has enough funding and resources - Also define authority as to what decisions can be made by the project manager and those that must be taken to the high level such as the governing committe or the board - Many organisaiton create and oraganisation govenanc structure to set strategic direction and to guide perofmance |
| - Organisational governance attempts to provide a set of values, methods, and processes to: * Set organisational strategy and objectives * Provide resources to achieve the stratergy and resources * Monitor and control activities to ensure that the resource are used efficintly and effectively | Project governance must define: - Structure - PMO, steering committe with some stakeholders in to to serve their interests, project board - Authorisation - project stakeholders must have a clear understanding of their authority. - Oversigh and accountability - If the project stakeholders know their role and responsibilites, as well as everyone else's, then people can be held accountable. A communication system must be in place that allows for the govening board to monitor and evaluate the project's progress |
| - Decision making - An effective sustem of communication also allows stakeholders to take corrective actions or to know when to escalate an issue, problem, or risk to a higher level of authority - Resources - A good project govenance framework ensures that the project has enough resources. This includes choosing the right project manageer, and the right team for the project. The making sure that they are supported with enough resources. oragnisation can go externally for these resources. | Effective teams and effective meetings: Common goals: - If there is no common goal no team can work well - It keeps pulling people on the team in the same direction - If people are fighting and showing signs of stress the first thing to check is if the goal is really shared by everyone |
| Goals are important: - Firstly bc a goal gives everyone a clear and speific outcome to aim for. The team knows what they have to deliver and has clear direction of travel - Secondly, delivering the goals esp if it going to make a big difference to number of stakeholders becomes a huge desire for those in the team. This desire drives the team on, even when things are tough - Thirsly, a common goals breaks down the barriers of which function or special area people work in and shifts the attention to delivering the result | |
| Ideas for creating a common goal include: - Assign each and every member some responsibility and document it - Discuss why the team exists - Allow each team member to express commitment - Create mottos, symbols, awards or posters that show team as one unit - Use the common pupose to prioritise team action | |
| What should team leader do? - Start a team project with an open discussion about common goals and listen to the alternatives - The goals should be full discusses and all positions and agendas should be placed on the table - Using a side note to open discussion - bettee results - Avoid assuming that the team know the goal - Start every meeting with a summary of what you're trying to achieve and how team's work will help get there. | next |
| Using external project resources: Why? - very often a project manager may needs to recruit people who are current in between projects or who soon will be rolling off an existing project - PM may need to negotiate with other managers for specific resurces such as indivduals with specific skills, or areas of expertise - The timing of when an individual can begin work on the project is imp factor that can impact the project's schedule - if internal resources are not available, the PM may have to acquire the needed resources externally | External resources: - Projects often require resources that must be acquired externally from sellers such as vendors or suppliers - This may include tecnology such as hardward or software, or office automation tools - Other iteams, such as office supplies or printing are often reuqired from outside resources as well |
| - Often services are also required from external resources. Often services and components of the project's scope are subcontracted to another firm - The project's scope can be broken in to a number of subprojects - This is also known as outsourcing | Outsourcing: - The decision to go outside of the project team for products and services depends on several factor * The PM and team may want to consider what product or services are available in the marketplace as well as the associated cost, quality, terms and conditions * Keep in mind the project team can be both buyer and seller of products and services * A buyer could be a client or a customer, while a seller could be a consultant, contractor, vendor, supplier, or a subcontractor |
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| Procurement planning: - Projects generally require resources, products, or services that must be purchased or acquired externally - This start by working out which project needs to be fulfilled internally by the project team, and which can best be met externally - The PM and the team must also decide when and how many, and, where these products and services be acquired - Depending on the needs for the project, the PM and team may develop a request for proposal (RFP), which will be used to solicit bids, quotes, proposals from prospective sellers | RFP - These douments are generally structures by the buyer so that a common means and set of measure can be used to comapre and evaluate the responses from different sellers - The complexity of these documets can be high when dealing with a govenment agency or if the product or service to be acquired is highly regulated - This also included the development of criteria for evaluating bids, proposals, after they're recieved from seller - While price is imp, sellers can be chosne based on their experience, expertise, and understanding of the needs, management approach, financial strength, technical ability, or refrences from previous clients or customers. |
| RFP Process: - The buyer to obtain a resonable number of high quality, competitive proposals - To achieve this objective, a buyer organisation may hold a conference with bidders, contracters, vendors, so on - The intitial meetins allow the sellers to have a better understanding of what products or services are needed and how to go about submitting the procurement document. - Many times the governing policies may entail a lengthy and public process to solicit bids from sellers - This may include advertising in papers, trade journals etc to let other parties know that bids and proposals are being sought - Other time, buyer may contact the sellect directly for a bid | - The proposal developed by the seller geenrally includes the price, also the decription of seller's ability to provide whats requested - This can be a phone call or a lengthy formal document and a formal presentation to the buyer - Once all bids and porposals are recieved the buyer's organisation begins analysing, evaluation and selecting a seller - The criteria made in plan purchases are used as a basis - Again, price or cost may be an important consideration, but other factors should be considered because a decision on price or cost alone may prove moot if the seller is unable to provide a quality product or service in a timely manner |
| Contratcs b/w buyers and sellers: - A contract is a document signed by the buyer and seller that defines their terms and conditions of the relationship - Legally biding agreement that obligates the seller to provide the products or service, and obligates the buyer to pay them | Three gernal catefories for procurement type contracts: 1. Fixed price or lump sum contracts: A total or fixed price is negotiated or set as the final price for a product or service. For example, an organization may decide to outsource the development of an application system to a consulting firm. Based on the project’s scope, the consulting firm will develop an estimated schedule and budget. Both firms may then negotiate a final cost of the project. |
| Cost-reumbursable contarcts - For these types of contracts a payment or reimbursement is made to the seller to cover the seller's actual costs. These costs include direct costs, indirect costs, salaries, rent, utilities Time and material contracts - is a hybrid of cost-reimbursable and fixed price conracts. Under T&M contract, the buyers pays the seller for both the time and the material. It resembles a cost reimbursable contract bc it is open-ended and the full contract is not decided before the work begins | done |
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