Podcast
Questions and Answers
Why do organisations need projects according to the text?
Why do organisations need projects according to the text?
What are the modern-day challenges of projects as mentioned in the text?
What are the modern-day challenges of projects as mentioned in the text?
In the evolution of project management, what are some examples of projects mentioned in the text?
In the evolution of project management, what are some examples of projects mentioned in the text?
What is the primary reason for technology influencing organisations to undertake projects?
What is the primary reason for technology influencing organisations to undertake projects?
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How are projects described in the context of being organisation-wide according to the text?
How are projects described in the context of being organisation-wide according to the text?
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What is a common characteristic of projects according to the text?
What is a common characteristic of projects according to the text?
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How does development of corporate strategy relate to projects, programmes, and portfolios?
How does development of corporate strategy relate to projects, programmes, and portfolios?
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Why do projects allow a reactive response according to the text?
Why do projects allow a reactive response according to the text?
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What is a common scenario within firms regarding projects?
What is a common scenario within firms regarding projects?
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How does project management fit within the context of business management according to the text?
How does project management fit within the context of business management according to the text?
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Why are multiple projects usually undertaken within a firm?
Why are multiple projects usually undertaken within a firm?
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What best describes a project portfolio?
What best describes a project portfolio?
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In the context of project management, what does 'synergy' refer to?
In the context of project management, what does 'synergy' refer to?
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What distinguishes programs of projects from individual projects?
What distinguishes programs of projects from individual projects?
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In project management, who are considered stakeholders?
In project management, who are considered stakeholders?
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Why is it important to consider the requirements of project stakeholders alongside those of the client?
Why is it important to consider the requirements of project stakeholders alongside those of the client?
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What does the broader project environment encompass?
What does the broader project environment encompass?
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Study Notes
Project Management Context
- A project portfolio is a collection of projects managed concurrently to deliver an overall benefit that would not be possible from individual projects, achieving synergy.
- Programmes of projects involve managing several linked and inter-related projects to achieve a single objective.
Project Stakeholders
- Project stakeholders include clients, users, public, government (local and central), and all other parties with an interest in or affected by the project.
- Stakeholders' requirements, such as neighbours, residents, and pressure groups, need to be considered when setting the project brief and design specification.
The Project Environment
- Projects take place in a wider geographic, social, political, and regulatory environment.
- The project environment includes project expectations and reality, with a focus on the client's requirements and product delivery process.
Relationship with Business Management
- Projects are a major tool for organisations to achieve their strategic goals, often involving change or innovation.
- Corporate strategy development requires interconnection between projects, programmes, portfolios, and corporate strategy.
- Projects allow a reactive response to changing and developing corporate strategy.
Evolution of Project Management
- Projects vary in type and nature, including new product or service development, construction, promotion campaigns, and IT applications.
- Projects are fundamental to organisations, with increasing complexity and long-term implications.
Why Organisations Need Projects
- Projects help organisations keep ahead of competitors, develop complex products and services, and respond to short time-to-market windows.
- The internet has dramatically affected business operations, making projects increasingly important.
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Description
This quiz covers various aspects of project management contexts including project portfolios, programs of projects, and the complexity of modern projects like Heathrow T5. Test your knowledge on managing projects at different levels and achieving synergy between different projects.
