Project Management Portfolio
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Questions and Answers

What is the primary focus of coaching co-workers to support the business?

  • To create conflict and resistance to change
  • To secure buy-in to the reasons for change
  • To provide compassionate mentoring and patience (correct)
  • To force changes within the organization

    • What is the primary goal of an agile operating system?

  • To breed conflict among team members
  • To facilitate resistance to change
  • To secure buy-in to the reasons for change
  • To facilitate adoption of a change-centered mindset (correct)

    • What is the primary purpose of keeping knowledge current?

  • To enable an agile operating system
  • To create conflict and resistance to change
  • To force changes within the organization
  • To continuously improve processes and knowledge (correct)

    • What is the primary focus of the plan for change?

    <p>To define the knowledge transfer and training activities</p> Signup and view all the answers

    What is the primary purpose of an attitudinal survey?

    <p>To find out how people are feeling about the change</p> Signup and view all the answers

    What is the primary goal of an informational campaign?

    <p>To familiarize people with the changes</p> Signup and view all the answers

    What is the primary characteristic of being open and transparent about potential effects of the changes?

    <p>Providing honest and clear information about the changes</p> Signup and view all the answers

    What is the primary purpose of considering a rollout plan?

    <p>To implement the change in a structured and controlled manner</p> Signup and view all the answers

    What is the primary distinction between a rollout plan and a project management plan?

    <p>A rollout plan is not a project management plan component</p> Signup and view all the answers

    What is the primary benefit of coaching team members in agile?

    <p>To facilitate adoption of a change-centered mindset</p> Signup and view all the answers

    What is key to coaching co-workers to support the business?

    <p>Patience and compassionate mentoring</p> Signup and view all the answers

    Why should agile operating system be enabled?

    <p>To facilitate adoption of a change-centered mindset</p> Signup and view all the answers

    What is the purpose of keeping knowledge current?

    <p>To improve processes and knowledge</p> Signup and view all the answers

    What should be defined in the plan for change?

    <p>The knowledge transfer, training, and readiness activities</p> Signup and view all the answers

    What is the purpose of an attitudinal survey?

    <p>To find out how people are feeling</p> Signup and view all the answers

    Why is it important to be open and transparent about potential effects of the changes?

    <p>To secure buy-in from stakeholders</p> Signup and view all the answers

    What is the purpose of considering a rollout plan?

    <p>To implement the change brought by the project</p> Signup and view all the answers

    What is the key distinction between a rollout plan and a project management plan?

    <p>A rollout plan is not a project management plan component</p> Signup and view all the answers

    What is a benefit of involving and consulting with stakeholders during change?

    <p>To secure buy-in to the reasons for change</p> Signup and view all the answers

    Why is it important to coach team members in agile?

    <p>To facilitate adoption of a change-centered mindset</p> Signup and view all the answers

    What is a potential outcome of not involving stakeholders during change?

    <p>Alienating resisters and breeding conflict</p> Signup and view all the answers

    What factors shape an organization's risk threshold and appetite?

    <p>Country/region, industry/sector, leadership, and project team</p> Signup and view all the answers

    Why is it important to understand the diverse values of country/region, industry/sector, leadership, and project team?

    <p>To establish effective approaches for initiating and planning projects</p> Signup and view all the answers

    What is the primary focus of the ADKAR model?

    <p>Individual change</p> Signup and view all the answers

    What are the five milestones an individual must achieve in the ADKAR model?

    <p>Awareness, Desire, Knowledge, Ability, Reinforcement</p> Signup and view all the answers

    What is the purpose of the 'Awareness' milestone in the ADKAR model?

    <p>To be aware of the need for change</p> Signup and view all the answers

    What is the 'R' milestone in the ADKAR model?

    <p>Reinforcement to make the change stick</p> Signup and view all the answers

    Why is individual change important in organizational change management?

    <p>Because it is the foundation of organizational change</p> Signup and view all the answers

    What is the relationship between individual change and organizational change?

    <p>Individual change precedes organizational change</p> Signup and view all the answers

    What is the goal of the ADKAR model?

    <p>To achieve individual change successfully</p> Signup and view all the answers

    Why is it important to consider the diverse values of country/region, industry/sector, leadership, and project team in project management?

    <p>To establish effective approaches for initiating and planning projects</p> Signup and view all the answers

    Study Notes

    Project Management

    • A project is part of a broader program, portfolio, or both.
    • Project management involves managing a project in a coordinated manner to obtain benefits not available from managing them individually.

    Program Management

    • A program is a collection of related projects, subsidiary programs, and operations managed in a group to achieve strategic objectives.
    • Program management involves managing a group of related projects, subsidiary programs, and operations to achieve strategic objectives.

    Portfolio Management

    • A portfolio is a collection of projects, programs, subsidiary portfolios, and operations managed in a group to achieve strategic objectives.
    • Portfolio management involves managing a group of projects, programs, subsidiary portfolios, and operations to achieve strategic objectives.

    Agile Manifesto

    • Highest priority is to satisfy the customer through early and continuous delivery of valuable software.
    • Welcome changing requirements, even late in development.
    • Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale.
    • Businesspeople and developers must work together daily throughout the project.
    • Build projects around motivated individuals.
    • Give them the environment and support they need and trust them to get the job done.

    Needs Assessment

    • Performed by a business analyst.
    • Involves understanding of business goals and objectives, issues, and opportunities.
    • Recommends proposals to address what should be done, constraints, assumptions, risks, and dependencies.
    • Defines success measures.

    Business Documents

    • Developed prior to project start (usually by a business analyst or key project stakeholder).
    • Contain information about the project's objectives and contribution to the business goals.
    • Help the business to determine whether a project is worth the required investment of time, money, and resources.
    • Reviewed periodically.

    Organizational Change Management

    • Assess organizational culture.
    • Evaluate impact of organizational change to project and determine required actions.
    • Recommend options for changes to project.
    • Continually monitor external business environment for impacts to project scope/backlog.

    Organizational Cultures and Styles

    • View of leadership, hierarchy, and authority.
    • Shared vision, beliefs, and expectations.
    • Diversity, equity, and inclusion practices.
    • Risk tolerance.
    • Regulations, policies, and procedures.
    • Code of conduct.
    • Operating environments.
    • Motivation and reward systems.

    Actions to Support Change

    • Coach co-workers to support the business.
    • Enable an agile operating system.
    • Keep knowledge current and continuously improve processes and knowledge.

    Plan for Change

    • Define knowledge transfer, training, and readiness activities required to implement the change brought by the project.
    • Include an attitudinal survey to find out how people are feeling.
    • Create an informational campaign to familiarize people with changes.
    • Be open and transparent about potential effects of the changes.
    • Consider creating a rollout plan.

    How OKRs Help Deliver Business Value

    • OKRs (Objectives and Key Results) refine organizational objectives into measurable goals and intents
    • Objectives are goals and intents, while key results are time-bound and measurable milestones under these goals and intents

    OKR Best Practices

    • Support each objective with 3-5 measurable key results
    • Aim for a 70% success rate to encourage competitive goal-making
    • Write OKRs that are action-oriented, inspirational, and include concrete, measurable outcomes

    Incremental Value Delivery

    • Incremental development approach enables value delivery sooner
    • It can attain higher customer value and increased market share
    • Allows partial delivery (or previews) to customers
    • Enables early feedback, allowing for adjustments to direction, priorities, and quality of the product

    From Principles to Performance Domains

    • Use the 12 principles to guide behavior in the 8 project performance domains
    • The 12 principles are derived from the Agile Manifesto

    Agile

    • More than 50 known agile practices and methods are in use
    • Agile Manifesto includes four values and 12 principles

    The Agile Manifesto

    • Embraces a flexible, change-friendly way of thinking and behaving
    • Understand the purpose of agile practices
    • Select and implement appropriate practices based on context
    • Internalize agile values, mindset, and behavior

    Tailor Projects to Contexts

    • Adapt methods to the unique project context to produce the desired outcomes
    • Tailor iteratively and continuously throughout the project

    Tailor Hybrid Approaches, Processes, and Practices

    • Adapt methods to the unique project context
    • Select the most appropriate development approach
    • Tailor processes for the selected life cycle and development approach
    • Tailor practices and methods to the environment and culture

    Financial Metrics

    • Financial metrics include profit, time value of money, present value (PV), future value (FV), net present value (NPV), and internal rate of return (IRR)
    • Return on investment (ROI) is also a financial metric

    Project Selection Using Present Value (PV) and Net Present Value (NPV)

    • Present value (PV) applies to projects that span several time periods when the value of money might change
    • Factors to determine PV include future value, interest rate, and number of periods
    • Net present value (NPV) is used for capital budgeting and accounts for inflation and macro-economic change

    Actions to Support Change

    • Coach co-workers to support the business
    • Enable an agile operating system
    • Keep knowledge current and continuously improve processes and knowledge
    • Plan for change and define knowledge transfer, training, and readiness activities
    • Create an informational campaign to familiarize people with changes

    Project Management Office (PMO)

    • A PMO can be Directive, Manage shared resources, Coordinate communication across projects
    • A PMO can be Supportive, Develop best practices, methodologies, standards, and templates
    • A PMO can be Controlling, Monitor compliance with project management standards, policies, procedures, and templates

    Agile Centers of Excellence (ACoEs)

    • ACoEs enable, rather than manage, project efforts
    • ACoEs coach teams, build agile mindset, skills, and capabilities throughout the organization
    • ACoEs mentor sponsors and product owners

    Organizational Project Management (OPM)

    • OPM is a strategy execution framework that coordinates project, program, portfolio, and operations management
    • OPM enables organizations to deliver on strategy

    Agile Manifesto

    • Values individuals and interaction over process and tools
    • Values working software over comprehensive documentation
    • Values customer collaboration over contract negotiation
    • Values responding to change over following a plan

    Agile Principles

    • Highest priority is to satisfy the customer through early and continuous delivery of valuable software
    • Welcome changing requirements, even late in development
    • Deliver working software frequently, from a couple of weeks to a couple of months
    • Businesspeople and developers must work together daily throughout the project
    • Build projects around motivated individuals
    • Face-to-face conversation is the most efficient and effective method of conveying information

    Organizational Influences

    • Enterprise Environmental Factors (EEFs) refer to all the implicit input or assets on processes used by an organization
    • EEFs include internal and external factors that influence, constrain, or direct the project, program, or portfolio

    Risk, Culture, and Change in Organizations

    • Risk threshold and appetite are shaped by diverse values of country/region, industry/sector, leadership, and project team
    • Understanding these values is crucial to establish effective approaches for initiating and planning projects

    Change Management Framework

    • Organizational change requires individual change
    • The ADKAR model names five milestones an individual must achieve to change successfully: Awareness, Desire, Knowledge, Ability, and Reinforcement

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    Project Management PDF

    Description

    This quiz covers project management portfolios, including subsidiary portfolios and operations, and their alignment with business strategies.

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