Podcast
Questions and Answers
Which of the following is NOT a guideline for drafting a project charter?
Which of the following is NOT a guideline for drafting a project charter?
- Due Date of proposals (correct)
- Project title
- Major deliverables
- Customer requirements
What does a Request for Proposal (RFP) aim to do from the customer's perspective?
What does a Request for Proposal (RFP) aim to do from the customer's perspective?
- Provide a detailed overview of the project timeline.
- Outline the project budget and funding sources.
- Communicate clearly and comprehensively what is required. (correct)
- Identify potential risks and mitigation strategies.
What is the purpose of a statement of work (SOW) within an RFP?
What is the purpose of a statement of work (SOW) within an RFP?
- To outline the project team's responsibilities.
- To define the project scope and deliverables. (correct)
- To establish the communication plan for the project.
- To identify the project stakeholders and their roles.
Which of the following is a type of contract mentioned in the content?
Which of the following is a type of contract mentioned in the content?
Why is it important for companies to shred documents after creating a proposal?
Why is it important for companies to shred documents after creating a proposal?
What happens to a proposal if it is submitted after the due date?
What happens to a proposal if it is submitted after the due date?
Which of the following is a key assumption in the context of the project charter?
Which of the following is a key assumption in the context of the project charter?
Which of the following is NOT mentioned in the content as a guideline for drafting a formal RFP to external contractors?
Which of the following is NOT mentioned in the content as a guideline for drafting a formal RFP to external contractors?
When soliciting proposals, what method can be used to ensure all potential contractors receive the RFP?
When soliciting proposals, what method can be used to ensure all potential contractors receive the RFP?
Which of the following is not a component of a contractor proposal?
Which of the following is not a component of a contractor proposal?
What is a bidders' meeting used for?
What is a bidders' meeting used for?
What is the primary goal of a good RFP?
What is the primary goal of a good RFP?
What is a major concern when soliciting proposals?
What is a major concern when soliciting proposals?
Which of the following can be included in a good RFP?
Which of the following can be included in a good RFP?
What is a common misconception regarding soliciting proposals?
What is a common misconception regarding soliciting proposals?
Why is it crucial for an RFP to be clear and unambiguous?
Why is it crucial for an RFP to be clear and unambiguous?
What is the purpose of a project charter?
What is the purpose of a project charter?
Which of the following best describes a need in project identification?
Which of the following best describes a need in project identification?
What is typically included in a request for proposal (RFP)?
What is typically included in a request for proposal (RFP)?
How should projects be selected to maximize value?
How should projects be selected to maximize value?
Which of the following is NOT a key point in a project charter?
Which of the following is NOT a key point in a project charter?
What should a project selection process start with?
What should a project selection process start with?
What does quantifying a problem in project identification involve?
What does quantifying a problem in project identification involve?
Which factor is NOT typical when developing evaluation criteria for projects?
Which factor is NOT typical when developing evaluation criteria for projects?
Flashcards
Deliverables
Deliverables
The specific outcomes or products to be provided in a contract.
Acceptance Criteria
Acceptance Criteria
Conditions that must be met for the proposal to be considered acceptable.
Proposal Submission
Proposal Submission
The process of sending a contractor proposal to the customer.
Evaluation Criteria
Evaluation Criteria
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Customer-Supplied Items
Customer-Supplied Items
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Bidder's Meeting
Bidder's Meeting
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Competitive Situation
Competitive Situation
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Good RFP
Good RFP
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Project Charter
Project Charter
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RFP (Request for Proposal)
RFP (Request for Proposal)
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Major Deliverables
Major Deliverables
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Success Criteria
Success Criteria
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Project Objectives
Project Objectives
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Milestones Schedule
Milestones Schedule
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Constraints
Constraints
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Identifying Needs
Identifying Needs
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Defining the Problem
Defining the Problem
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Request for Proposal (RFP)
Request for Proposal (RFP)
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Project Selection Criteria
Project Selection Criteria
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Budget Determination
Budget Determination
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Evaluating Opportunities
Evaluating Opportunities
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Feasibility of a Project
Feasibility of a Project
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Study Notes
Learning Objectives
- Projects are identified and selected
- Project charter is used
- Outsourcing projects use a request for proposal (RFP)
- The proposal solicitation process is followed
Identifying Needs, Problems, or Opportunities
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Recognize a need, problem, or opportunity
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Clearly define the problem or need
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Quantify the problem
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Determine the budget
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Prepare a request for proposal
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Select the best project(s) considering the greatest benefit for the cost expended
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Problem: an unknown gap between the current state and the expected state
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Opportunity: a known gap between the current state and the expected state
Project Selection
- Criteria are developed to evaluate projects
- Assumptions about projects are listed
- Data and information is gathered for each opportunity
- Each opportunity is evaluated against the criteria
Project Charter
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A formal project authorization document
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Also called a project authorization or project initiation document
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Includes fund approval
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Includes key conditions and parameters for developing a baseline plan
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General guidelines for drafting a project charter include: project title, purpose, description, objectives, success criteria, funding, major deliverables, acceptance criteria, milestones, key assumptions, and constraints
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Project charter example: Suncor works with internal employees to create a proposal for a contractor. Key points include clear goals, feasibility, and company benefits/deliverables.
Request for Proposal (RFP)
- State customer requirements in detail
- Enable contractors to understand expectations for a proposal
- May be communicated formally or informally
- Guidelines for a formal RFP include project objectives, statement of work, customer requirements, deliverables, acceptance criteria, customer-supplied items, contract approvals, payment terms, schedule, proposal format, due date, evaluation criteria, funding
- Some companies use templates for proposals, for example, increasing company sales, use of contracts (NDA Non-disclosure agreement).
- Proposal types include fixed price and cost-based
- Some companies use a preferred submission method (e.g., Canada Post Registered Mail)
Soliciting Proposals
- Methods include identifying a group of contractors in advance, advertising in business newspapers, holding a bidders meeting to clarify RFPs, not all companies use RFPS
- A good RFP helps a group or a project team understand customer requirements and prepares a proposal that meets expectations at a reasonable price
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Description
This quiz covers the essential concepts of project management including project selection criteria, the use of project charters, and the proposal solicitation process. Test your understanding of how to identify needs and opportunities and select projects for maximum benefit. Perfect for students learning the basics of project management.
