Try any of these typical questions
1) List and describe five differences between a project managment process and a lifecycle?
2) Explain five roles of the project sponsor?
3) Desctibe five benefits of managing projects as a programme and not separate projects?
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Penny
Your answer on “Describe five benefits of managing projects as a programme and not separate projects?” is ok but you need some examples to illustrate your points. Think about the benefits of having a transport programme for a city like London, and use this to illustrate each point you make.
Paul, please let me know how to improve these answers I am a little embarrassed by what I have thrown together.
List & Describe 5 difference between a Project Management Process and a Lifecycle
Lifecycle
These are the phases a project will go through, e.g. Concept, Definition, to realise the benefits of the project whereas project management processes are the means to complete each stage of the lifecycle.
Project Management Process
The project management process is made up of standards and individual plans which describe how the work will be implemented to realise the benefits. For example a project management process will be the Project Management Plan.
Post Project Review
Post Project Reviews are part of the extended life cycle of a project, but will require information from the plans e.g., Quality, Risk, PMP, to assess the success or failure at any point during the Project
Project Evaluation Reviews
These take place at certain points during the lifecycle. For example at the end of the Concept phase. To correctly review the project KPI’s will be monitored. KPI’s are a project management process which records various pre-determined measurements at points during the project.
Design & Build
Design & Build are components of the Implementation phase of the lifecycle. These are the stages at where the work will begin on site. The determination of how the work on site is achieved will be contained within the project management processes, e.g. the project management plan, quality plan and risk plan.
Explain 5 roles of the Project Sponsor
Business Case
The Sponsor is responsible for the creation of the business case to detail the expected Benefits to be obtained from a project. The Benefits are the primary concern for the Sponsor.
Steering Group
The Sponsor is responsible for chairing Steering Group meetings. These meetings will be made up of Key Stakeholders, Project Manager and users. The Steering Group are responsible for deciding the benefits to be realised from the project. It is also the Sponsors responsibility to keep the Steering Group up to date on the progress of the project and any issues, risks that arise.
Risks during Concept
It is the Sponsors responsibility to realise any key risks, issues that the project may face and if possible eradicate these prior to the implementation of the project.
Project Manager
The Sponsor is responsible for ensuring a good relationship is formed with the Project Manager and where possible steer the PM and answer any queries relating to the Project. The Sponsor should also be responsible for the agreement of any change to the project scope requested by the users to the Project Manager.
Project Management Plan
It is the Sponsors responsibility to Sign off and agree the contents of the Project Management Plan as created by the Project Manager. Ensuring that all relevant process will be followed to create the output of the project.
Describe five benefits of managing projects as a programme and not separate projects?
Resources – A benefit of managing projects within a programme gives greater flexibility for the use of resources during the programme. For example if one part of the programme is delayed at any point (that will not reflect on a different project ongoing within the programme), it may be possible to relocate manpower to create an earlier finish on one project until the stalled project is able to be restarted.
Ability to initiate, withdraw, cancel projects within the Programme – A Programme gives you a better view of the work currently being undertaken and the ability to initiate another project phase earlier if required. For example a project is currently ongoing within the programme, whilst another project is not due to start for some months. The work on the initial project may reach a stage where you are able to initiate the implementation of the second project without hindering the first.
Ability to manage risks – During a programme the projects will be working towards shared benefits, or similar benefits. This means that you can manage risks easier. For example a programme of works that would replace track for one large station (so projects would cover each platform), would all have similar risks. Therefore you can group risks/issues together and works that take place on one project may give you a best practice or review of how to realise/eliminate the risks during the other project phases.
Focus on the Benefits – A programme gives you a high level view of the benefit realisation for the projects. You are able to see the benefits being achieved as the projects progress. It also means that you are able to see where any problems lie in achieving the benefits.
Project Interdependencies – Improved management of the project interdependencies. Such as two projects can work simultaneously as they do not hinder the outcome of either project. Whilst other projects my need to reach a certain stage before you are able to proceed. For example the building of several office blocks, although the construction can be completed together, the work of fitting out the offices is dependant upon the completion of the construction. This will be easy to see from the Programme.
Elaine
Thanks for having a go at the questions on the discussion group.You answer to the question “Describe five benefits of managing projects as a programme and not separate projects?” is really just the level we want. The rest a a little bit on the brief side, you have explained the what but not why it is important. So for example I would do
Lifecycle vs Processes
The lifecycle sets out the the phases a project will go through, e.g. Concept, Definition, Implementation to realise the benefits of the project whereas project management processes are the means to complete each stage of the lifecycle for example risk management or stakeholder management. The phases in the lifecycle are sequential with every project doing (if it is not canceled) through each phase in order, whereas the processes are iterative, for example the cost forecast and risk register will be updated every month as part of the project control cycle,
Dear Paul these are from the sample exam questions that we used on Thursday last week. I have answered some after reading the book and others without looking. Can you let me know how I have got on? Thanks for your help it really is greatly appreciated.
Q5 – Business Case
a) Explain the principal purpose of a project Business Case
The principal purpose of a business case is to show the validity of a project. The business case will show what benefits can be derived from the project, how this will be achieved, high level scope of the work required, financial investment information and possible strategic risks involved. It will also detail the start and end timescales for the project including important milestones.
b) State which roles have responsibility for:
bi) Authorship – Authorship of the Business case can be the Project Manager or in some instances private consultants.
bii) Ownership – The Sponsor will always have ownership of the Business Case.
c) List and Describe three investment appraisal techniques
Three investment appraisal techniques are:-
Payback
NPV – Net Present Value
IRR – Internal Rate of Return
Payback – this is the simplest of the investment appraisal techniques. Investment is simply managed by working out the time that this investment will return a profit. An example of this would be Solar Panels, with the government subsidy on returned energy the money paid for the panels and installation will go into profit after 7 years. However, this does not take into account the value of money in future years.
NVP – This is slightly more complicated, but does take into account the future value of money as a percentage (discount factor). The disadvantage of this could be dependant upon the discounts value used. One discount factor could show a profit where a higher one could show a loss. For example the refit of a shop may increase the number of customers able to visit, which in turn could create an earlier investment return.
IRR – This investment appraisal is the most complicated but allow analysis of several discount factors. You would plot these onto a graph and where the factors crossed £0, this would be the IRR This point would show where you would start to receive a profit from your investment. For example this could again be a shop refit, but this would give a more reliable point at which profit was realised.
Q6 – Project Management
List five characteristics of projects and describe how each is different from business as usual activities.
Five Characteristics of a Project are:-
Lifecycle
Limited Time
Unique
Budget
Deliverables
Lifecycle – A project has a lifecycle with a predetermined end date whereas BAU runs from creation, operations through to disposal which is termed a Product Lifecycle which runs repetitively. For example a Project Lifecycle would cover the building of a new road bridge whereas the Business as Usual would be the cars running over the bridge after completion.
Limited Time – A Project has a limited time in which to complete in order to meet the benefits requirements, whereas BAU runs repeatedly for a indefinite time. For example the new road bridge would need to be completed for a certain date, as other roads my be taking the excess traffic whilst this is being built. Business as Usual will be the cars continually running over the bridge for an indefinite time.
Unique – A Project is unique in that it is delivering a one off product to enhance an organisation whereas BAU has repetitive tasks that will continue indefinitely. For example completion of a new warehouse is a one off project, the work that continues on a daily basis within the warehouse is not unique as it is repeated.
Budget – A Project is given a predetermined budge to realise the end product whereas BAU can have a monthly/yearly budget. For example the cost to build a warehouse will be a one off cost whereas the daily work that takes place within the warehouse will be repetative, eg weekly wages of staff, movement of materials, etc.
Deliverables – A Project will supply a set of deliverables for completion but this will be only once whereas BAU will repeatedly create deliverables. For example, the creation of a conveyor belt for a factory will be built once, whereas the daily work created using the conveyor belt will be continuous.
Q7 – Portfolio Management
a) Explain three key activities of Portfolio Management
Three key activities of Portfolio Management are:
Monitoring of all Projects & Programmes within Organisation
Best use of finances within Organisation
Ensuring all projects & programmes meet the requirements of the organisation
Monitoring – This is a key activity of Portfolio Management as it allows the Senior Management to have a view of all projects and programmes within the organisation and so they are able to see quickly where any bottlenecks can occur. For example the Portfolio may show that during May the requirement for electricians exceeds the number of staff available and changes can be then made to move work around ensuring that there is no overallocation of scare resources.
Best Use of Finances – This is a key activity of Portfolio Management as it allows continued view of where finances are needed, how much and when. This will allow the organisation to keep their budgets under control. For example the rebuilding of bridges on a particular route, may not require all to be rebuilt and some may be shown as able to wait or just have a refit. The Portfolio Manager is then able to ensure that the finances are directed to those requiring a rebuild.
Requirements – This is a key activity of Portfolio Management as the Portfolio Manager is able to view all projects and programmes within the organisation and has the ability to remove any that no longer meet the current requirements of the organisation. For example extending the gauge of the railway is currently underway, however, some areas will not require as large a gauge as others, In this instance the Portfolio Manager is able to downgrade the gauge on less important routes ensuring finance is available for the important routes, and also keeping to the current requirements of the business.
b)Explain two ways that Project Managers contribute to Portfolio Management
Two ways in which Project Managers contribute to Portfolio Management are:
Risks
Best Practice
Risks – A Project Manager would be able to see that risks on their project may be applicable to several other similar projects. Therefore, the Project Manager would be able to raise these risks with the Portfolio Manager to ensure these are taken into account on the other projects. For example whilst relaying a rail track there may be certain risks that arise which had not been forseen. The Project Manager would then liaise with the Portfolio Manager to ensure that any other projects requiring that track is relaying take such risks into account, thus creating a more stable project environment.
Best Practice – A Project Manager may find that during a Lessons Learnt review the best practice that they employed to achieve a particular goal could also be of use if made transferable for other projects. The Project Manager would need to liaise with the Portfolio Manager to discuss this further. Whilst working on site the normal way to install a certain item was unable to be followed, due to certain conditions, however, the team on site found an innovative way to complete the task, which saved delays. Such innovation should be shared throughout the organisation to improve future projects.
Q8 – Stakeholder Management
a) Where Stakeholder Management is carried out using the grid below, state the meaning of each of the axes:
Power
Interest
Power – This is the amount of power the individual Stakeholders have over the Project.
Interest – This is the amount of power the individual Stakeholders have in the Project.
b) with each of the four quadrants of the matrix labelled A, B, C and D, explain:
The potential implications of the stakeholder actions on the project.
The Project Managers approach to managing the Stakeholder.
Quadrant A – This Stakeholder has High Power but Low Interest, this could mean that this person although they have power in the organisation will not interfere with the project. This could be positive, but also it could prove disastrous in that this particular stakeholder does not give information that would be critical to the project plans. For example this could be a Senior Manager who is not interested in how the project will effect his staff and therfeore, vial information could be lost in the planning stages.
Quadrant B – This Stakeholder has High Power and High Interest in the project, this could mean that if this particular stakeholder is not happy with the current plans, they are likely to put a stop to the project until they are happy it is going in the direction they feel is best. This could cost time and possibly delay the project. For example the Senior Manager of a factory refit, feels that the plan does not flow for the ease of final working, Items require moving more times that if the set up flowed.
Quadrant C – This Stakeholder has Low Power and Low Interest in the project. Again this could have a positive or negative effect on the project. This individual may have day to day knowledge which would steer the way the project was led. For example this could be the computer user that understands what is required to meet the daily challenges of their role, but they have very little power and their lack of interest could mean the incorrect programme being conceived.
Quadrant D – This Stakeholder has Low Power and High Interest in the Project. This particular individual could become very negative about the project if they are not included. For example this could be the daily worker, who realises the benefits this could create for their daily role and has great knowledge that would be of use.
The Project Manager could use the Conflict Management chart to ensure that regardless of their influence on the project all Stakeholders have an opportunity to feed into the project outcome. The chart for this would be as per below.
Competitive
Collaborative
Avoid
Acceptance
The middle of this chart is shown as compromise which is generally the normal outcome. If the Project Manager wants to ensure they can influence the individual Stakeholders it is worth taking this conflict chart into account so they are able to deal with each individual in the best manner. Quadrant C could well be in the Avoidance box and the Project Manager would need to coax them out of their shell to ensure the correct information is obtained.
Q9 – Handover and Closeout
a) Explain what is meant by the term Project Closeout
The term Project Closeout refers to the disbanding of the Project. At this point the handover would have been completed and Business as Usual started. This is the time that the project needs to ensure that all accounts have been settled, staff dispersed to other activities/jobs, furniture and equipment returned to their rightful owners or disposed of in an ecologically friendly manner.
b) Explain, making four points, why it is important to conduct effect project closeout.
Four points to explain why it is important to conduct effective closeout are:
Team Dissolution
Disposal of Assets
Financial
Post Project Review
Team Dissolution – Once the project has reached the end the Project Manager will need to disband the team, either moving them to other roles, if possible. At the same time it must be remembered that the team may have worked together for many years and so this must be conducted in a non confrontational way. It is also the time for the Project Manager to award individuals. If this is not completed correctly then staff costs will continue to be charged and there will not be any budget to pay for this.
Disposal of Assets – The Project Management Office will need to be closed down to ensure that no further costs for electricity, heating or hire charges are received. This my mean returning furniture or equipment to their owners or disposing of assets in an environmentally friendly way. Failure to dispose of assets again could results in extra costs that have not been budgeted for.
Financial – All final accounts must be settled and the project cost line removed from the organisation. It is the Project Managers responsibility to ensure that no contractor invoices are outstanding. Failure to ensure all final costs have been received and payed could result in a surprise bill that the organisation is not able to pay.
Post Project Review – This review will take into account all the Lessons Learnt reviews and stage reviews throughout the project. The Project Manager will be able to report on areas that were exceptionally positive and any that could be improved upon in future projects. This ensures that the company can continually improve leading to a more positive Stakeholder future process.
Q10 – Budgeting and Cost Management
a) Within the project context, state the meaning of each of the following:
Committed costs
Accrued costs
Committed Costs – Costs where the amount is known and the payment dates agreed. For example accommodation costs of £2000 per month for 12 months. The Contract is signed and the payment dates are set for the twelve months making the total £24000.
Accrued Costs – This is a best estimate for where costs have not yet been invoiced or paid. For example you know that an electrician will invoice costs of £24.000, but the invoice date is unknown. Therefore, you would accrue the costs to show that the money is included in the budget.
b) List and describe four reasons why it is important that the Project Manager understands committed costs on a project.
Four reasons it is important for the Project Manager to understand committed costs are:
Reviews
Validity of Costs
Resources
Estimation of Accrued Costs
Reviews – It is important for the Project Manager to understand committed costs for inclusion in the periodic reviews during a project lifecycle. This will show the ongoing costs of the budget and will ensure that any deviation is spotted early enough to be dealt with before becoming a problem. For example if an increase in electricity costs is going to be introduced in Period 3, then this can be added into the committed costs and either used from a contingency or realign the budget to show the increase.
Validity of Costs – Committed costs can assist the project manager in validating the costs of the project for the Sponsor and Business case. Also as these are continued payments they can form the baseline ensuring change control can be easily managed as any variation is easily spotted. For example the electricity increase above could be managed via change control prior to the cost increase requirement.
Resources – This is important as the Project Manager is able to see the resource requirements ahead of time and ensure they are used in the most cost effective way. For example if resources appear to be over exceeded in a particular period the Project Manager can review the Project and look at introducing an area of work earlier in the year.
Estimation of Accrued Costs – Committed costs can assist in the estimation of other costs as a baseline now exists for the standard costs. This ensures that the Project Manager can see the remaining budget and estimate the remainder of costs accordingly. For example all committed costs for the Project Management Office are known, the remainder of the budget will be to complete the project set of deliverables. The Project Manager is able to see the remaining money and has a better understanding of the resource available for any contracts.
Q11 – Project Management Plan
a) List and describe four processes/plans which are included within the PMP
Four processes/plan included in the PMP are:
Quality Plan
Risk Management
Environmental Plan
Safety Plan
All plans will be made up of:
Introduction
Definition
Assessment
Roles & Responsibilities
Templates
Quality Plan – The quality plan details how the project will ensure that quality is followed throughout the project and how the Project Manager plans to deliver a quality product. Part of this will include stipulations for the type of contract staff required, what speciality knowledge or training they require to ensure their work is of sufficient quality. It will also include specification information as to the type, size, depth of certain materials. The quality plan will have review points to ensure this is being met.
Risk Management – The risk management plan covers any possible risks/issues that may arise during the phases from Development to Closeout of the project. This will cover possible mitigation measures and how to deal with risks if they occur. It will also detail the costs of any risks/issues being realised. For example an issue in the project could be the lack of sufficient materials due to delivery problems. This is outside the control of the Project Manager, but knowing this could be a risk the Project Manager could ensure that it is written into any contract for the supply of materials, that the material supplier will be held responsible for any extra costs incurred to the budget.
Environmental Plan – The Environmental Plan will cover topics such as protected species, bird nesting times, Tree Preservation orders, removal of waste from site. Ways to ensure that the environment is not damaged during the construction and that the site is returned to the same state as before work commenced. It can also include information as how we need to deal with any environmental damage during the works. For example network rail environmental plans include information as to how we should deal with any oil spills on site and includes information as to the kit that should be available at every site to deal with this incident. Reports must then be completed, using the templates, for when such instances have occurred.
Safety Plan – Safety plans will hold information about how to work safely during a project, especially when working on site. It will explain what safety uniforms are required, and in what circumstances, the warning signs required and where they are to be placed. The people required to be on site at any time according to the site safety hazards, etc. For example, Network Rail is very safety drive and therefore our Safety Plans are vital. These will show the contractors what safety uniform is required at any time and any speciality items required, such as steel toe capped boots, but if you are using a chainsaw these need to be special chainsaw boots. Required Hazard signs are also included within the plan.
b) Explain what is meant by a baseline project management plan and how it is used.
A baselined project management plan is the initial PMP drawn up and signed by the Sponsor. Any changes to this plan will go through the change control system prior to changes being made. This way any changes can be easily shown and it is possible to refer back to the baseline PMP during any reviews to show how costs have been affected, etc.
Q12 – Methods and Procedures
Explain five advantages to an organisation of adopting a structured method for Project Management
Five Advantages for adopting a structure method for Project Management are:
People
Common Language
Processess
Templates
Tools
People – A structured method ensures that all roles and responsibilities are clear as well as the requirements for individual projects. For example you will have a Sponsor and they will know what is expected of them during the Project lifecycle. The Project Manager will have full knowledge of their role requirements. People working within the project will know who is responsible for what role and who they need to liaise with during the life of the project. For example when the project requires the assistance of the Procurement Team it is easy to identify to whom you will need to liaise.
Common Language – following a structured method will ensure that a common language develops across the projects. This will also mean that people can be used to their best advantage and able to move between projects if required. For example in Network Rail we have a great number of common language examples. Each part of the track has a particular Engineering Line Reference which is generally three letters and maybe a number. For the East Cost Mail Line to Doncaster this is ECML1. The majority of people within the rail business will understand this code and the area this relates to.
Processes – Structured processes will ensure that all those involved with a project can fully understand the different stages and processes required during those stages. For example we work within the GRIP Lifecycle so everyone is fully aware that there are milestone within the stages and each stage requires to be reviewed, closed and authorised. There are also numerous processes involved with each stage that must be adhered to. This also allows for staff to be interchangeable when sickness affects another team.
Templates – The use of Templates creates a very structured method for Project teams to work upon. The advantage being that paperwork is all structured in the same way and you are able to locate specific information quickly. Templates can also be quicker to complete as some basic information could already be completed and helpful hints are give for completion of the remaining information. This also ensures that it is easier to review projects once they have been completed. For example a project team member that has been utilised on a new project will be able to complete the templates easily as they have used them on previous projects.
Tools – Speciality tools for deployment. This could mean that staff can be pointed towards a practical solution information of which was obtained from a previous lessons learnt or Post Project review. For example certain speciality materials which were previously innovative and difficult to locate a supplier and lead time for delivery was required to be input into the project, the new project team wishing to use those materials will be able to look at the time required for ordering and be able to contact the supplier quickly.
Elaine
A very good set of answers, only two minor things.
1) The purpose of the business case is to justify the investment in the project (no its validity)
2) The risk management plan describes the approach to risk management processes and does not list the risks, these are in the risk register.