Project Management Principles and Closure

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which statement best describes the project context?

It guides the progression from pre-project activity through the stages of the project lifecycle

It explains how each aspect of project management should be applied for the processes to be effective

It should be understood by stakeholders so that the principles are applied appropriately (correct)

It ensures an understanding of the needs of stakeholders, and the relationships between them

What characteristic distinguishes a project from business as usual?

Projects continue after business as usual resumes

Project work is generally less risky than business as usual work

Every project will be different to previous projects (correct)

Projects include ongoing management of operations

When a project is closed prematurely due to changes in the external environment, which principle is being applied?

Tailor to suit the project

Ensure continued business justification (correct)

Learn from experience

Manage by exception

Which statement about the principle of defining roles, responsibilities, and relationships is correct?

Suppliers are stakeholders that can be external to the business Signup and view all the answers

What principle is applied when setting limits for performance aspects to enable effective project management?

Manage by exception Signup and view all the answers

What does the principle of ensuring continued business justification facilitate?

That the project remains desirable, viable, and achievable as the project progresses Signup and view all the answers

How do the principles support effective project management?

They allow the project team to decide how the method should be applied on the project Signup and view all the answers

Which statement best summarizes the approach to managing by exception?

It entails setting predefined tolerance levels for project performance Signup and view all the answers

What aspect of effective issue management enables the implementation of a change?

The delegation of authority to the appropriate level Signup and view all the answers

In which step of issue management should the impact on project scope be understood?

Assessing issues Signup and view all the answers

What is the primary goal of the progress practice in project management?

To determine if the project is within budget and on schedule Signup and view all the answers

Which document should the project board review to make decisions on the project's next steps?

The end stage report Signup and view all the answers

What defines an exception in project management?

A deviation is predicted beyond accepted limits Signup and view all the answers

How should data and systems contribute to effective progress management?

By offering accurate data for future predictions Signup and view all the answers

At which levels are projects most likely to identify issues that exceed stage tolerances?

Directing AND managing Signup and view all the answers

What is a key objective of the 'starting up a project' process?

To ensure the project meets organizational value Signup and view all the answers

Which process prevents unsuitable projects from moving forward?

Starting up a project Signup and view all the answers

What is a primary aim of the 'directing a project' process?

To maintain project board accountability while managing Signup and view all the answers

Which objectives belong to the 'controlling a stage' process?

Ensuring no uncontrolled changes and completing the stage plan Signup and view all the answers

What is one of the objectives of the 'directing a project' process?

To ensure project closure requires proper authorization Signup and view all the answers

Which activity is performed exclusively in the 'managing a stage boundary' process?

Preparing the next stage plan for board approval Signup and view all the answers

What is required to effectively perform the 'managing a stage boundary' process?

Having a clearly defined end date for the project Signup and view all the answers

In which step of the organizational design and development technique should a new team member's site visit occur?

Understand the organizational ecosystem Signup and view all the answers

What is a primary purpose of the plans practice?

To enable the project manager to control the project by defining roles Signup and view all the answers

If the scope of a project needs to be increased beyond agreed tolerances, which plan should be produced?

Exception plan Signup and view all the answers

What are the two types of relevant dependencies in project planning?

Internal and external Signup and view all the answers

How should a project plan typically accommodate an iterative-incremental project?

By having multiple delivery stages Signup and view all the answers

Where should the project's user quality expectations be captured?

Defining and analysing the products Signup and view all the answers

What is a main purpose of the quality practice in project management?

To define how user requirements will be met Signup and view all the answers

Where should information about a product needing testing but not yet approved be recorded?

Product register Signup and view all the answers

Which statement describes project assurance rather than quality assurance?

It is independent of the project team. Signup and view all the answers

How should a new requirement identified in a subordinate plan be managed?

By using the issue management approach Signup and view all the answers

In which step of the quality management technique should a user take ownership of a tested system?

Accepting products Signup and view all the answers

Which document provides guidance on recording project threats?

Risk register Signup and view all the answers

Which term describes who is responsible for responding to a risk satisfactorily?

Risk owner Signup and view all the answers

How does loss aversion typically result in less effective decision-making regarding risks?

By prioritizing keeping existing assets over acquiring new ones Signup and view all the answers

Which statement describes leadership on a project?

It is best done through collaboration across the project ecosystem Signup and view all the answers

Which is a definition of co-creation?

Working with key influencers to ensure the agreed ways of working are adopted by all areas of the project ecosystem Signup and view all the answers

Which is NOT an aspect of leadership?

Instructing the execution of tasks in line with agreed ways of working Signup and view all the answers

Which activity should be managed carefully as part of 'leading across organizational boundaries'?

Gaining commitment for the realization of benefits post-project Signup and view all the answers

Why is change management important in a project?

Because confidence is needed that the project can meet its scope objectives and continues to be justified Signup and view all the answers

Which statement about capability and competency within a project is CORRECT?

Team members are likely to perform differently depending on the structure of the team Signup and view all the answers

What is a purpose of the business case practice?

To enable the project executive to decide whether to continue with the project Signup and view all the answers

Which should be used to justify whether the project should be progressed?

Business case and highlight report Signup and view all the answers

Which management product should specify individual accountability for sustainability targets?

Role descriptions Signup and view all the answers

Which principle is being applied by the 'people' element?

Define roles, responsibilities and relationships Signup and view all the answers

What is defined as having the authority to direct the project?

Project executive Signup and view all the answers

How should the senior user fulfill their responsibility for continued realization of benefits post-project?

By ensuring commitment from people in the user community to adopting the new products Signup and view all the answers

Which management product should the project board approve to commit to the project scope?

Business case Signup and view all the answers

During a stage, the project manager recorded a new risk on the risk register. In which step of the business case management technique should its impact on the business case be assessed?

Maintain Signup and view all the answers

Study Notes

Project Context and Principles

Project context should be understood by stakeholders to apply principles appropriately.
Context guides from pre-project to project lifecycle stages.
Context ensures stakeholder needs and relationships are understood.
Projects differ from business as usual in that they conclude after the initial business activity resumes.
Projects are unique, unlike ongoing operational management.

Project Characteristics

Project work is generally riskier than business-as-usual work.
Project completion ends after business activity is resumed.
Every project is different from previous projects.

Project Closure

A project can be prematurely closed if the external environment changes.
The principle of "Tailor to suit the project" is applied in this scenario.

Roles, Responsibilities, and Relationships

Project teams often involve external stakeholders, like suppliers.
Day-to-day management structures are unlikely to control project work.
Project boards should ideally include external supplier representatives.
Suppliers are external stakeholders.

Performance Limits

Setting limits for seven aspects of performance enables effective project management.
The principle of "Manage by exception" is utilized for this.

Business Justification

The principle of "Ensure continued business justification" maintains the project's desirability, viability, and achievability.
The principle ensures stakeholders continually justify the investment.

Principle Application

Principles allow for method application tailoring to project specifics.
PRINCE2 is generic and adapts to different industries.
Principles need to be applied consistently within an organization.

Project Leadership

Leadership involves co-creation and collaboration within the project ecosystem.
Project leadership facilitates shared attitudes, values, and goals.
Leadership involves instructing tasks and ensuring aligned ways of working.

Co-Creation

Co-creation involves working with key influencers to ensure agreed ways of working are adopted.

Leadership Aspects

Leadership involves motivating people towards project objectives.
Leadership involves influencing and co-creating with stakeholders.
Leadership involves seeking frequent feedback.

Organizational Boundaries

Securing funding from the business layer is an activity performed by people outside the project team.
Gaining commitment for post-project benefits is a task often performed outside the project team.

Change Management

Change management ensures stakeholders understand organizational impacts of the project.
Change management ensures the project's ongoing justification.

Project Team Capability

Project teams should reflect diverse capabilities and competencies.
Team structure affects how team members perform.
Standard roles and responsibilities adaptable to the project are used.

Change Management Purpose

Change management describes processes and procedures for managing project uncertainties.
Change management outlines how proposals for change to the project plan should be recorded and approved.
Change management defines new business operational needs and procedures.

Project Principles and Elements

"People", as an element, utilizes the principle of "Define roles, responsibilities, and relationships."

Project Board Approval

Project board approval commits the project to scope and timescale through the project mandate.
Project initiation documentation is committed to by the project board.
The business case justifies project progression.

Business Case Purpose

The business case helps the project executive decide on project continuation.
The business case identifies user quality expectations.
The business case considers dis-benefits and minimizes conflicts.

Project Justification

Project justification is ensured by the business case and highlight report.

Business Objectives

Business objectives represent measurable outcomes relating to an organization's strategy.

Project Requirements

A government carbon footprint target should be documented as an outcome.

Risk Management

Risk impact assessment relating to the business case is a part of the "Develop" step.
The impact of new risks on the business case is assessed during the check step.

Organizational Feedback

Project teams should adapt to stakeholder feedback about team structure using the principle of "Tailor to suit the project."

Accountability

Sustainability targets should be tracked in role descriptions and project structures.
Project board holds authorization for project execution within business parameters.

Post-Project Benefits

Post-project benefit realization requires stakeholders committing to using the project products.

Project Team Additions

New team members joining should be managed by the "Develop the project ecosystem" step.

Planning Purposes

Project plans determine product deliverables and timelines.
Project plans enable the project to respond to uncertainties.

Scope Changes

Exception plans handle scope increases beyond business-agreed tolerances.

Project Planning Elements

Project plans should account for iterative-incremental projects.
Iterative-incremental projects use multiple delivery stages to refine acceptance criteria.
Plans for iterative projects should break down work packages, detailing day-to-day project management.

User Requirements

User quality expectations are captured when defining/analyzing products during planning.

Quality Assurance

Quality assurance ensures that the project outputs meet user quality requirements.
Quality assurance defines expected standards for project products.

Product Status Recording

The product register records product status and needs, ideally with a clear approval status.

Project Assurance

Project assurance is separate from the project manager and may be part of the user's quality management.

Changes to Plans

Issue management should be used to respond to new requirements in subordinate plans.

Product Acceptance

Product acceptance occurs when testing is complete and the user takes ownership.

Risk Practice Purpose

Risk management identifies the likelihood and impact of potential project threats.
Risk management establishes solutions to risks.

Risk Recording and Ownership

Risk registers document project threats.
Risk action owners address risks.

Risk Decision-Making

Loss aversion can result in less effective risk decisions.
Loss aversion causes prioritization of preserving existing situations over new opportunities.

Risk Management Stages

Defining how to manage risk occurs during the risk "Plan" phase.

Issue Management

The issues practice resolves uncertainties and addresses the root cause.
The issue management approach outlines handling of the project issues.

Issue Definition

Issues involve circumstances needing project management attention.

Issue Implementation

Issue resolution requires implementation based on project board approvals.

Progress Management

Progress practices forecast project time and budget adherence using project data.

Reporting

The project board reviews highlight reports for project decisions.

Exception Definition

Exceptions describe forecast deviations from agreed tolerance levels.

Data Management

Project data supports progress predicting and accurate performance analyses.

Exception Levels

Issues exceeding tolerances are most likely identified at the "Managing" and "Delivering" levels, during the "commissioning" and "directing" project stages.

Starting up a Project

Starting up a project assesses project value to the organization.
Initiation documentation planning is done before solid project foundations are set.

Project Process Purpose

Starting up a project allows for an organization to validate the project worthiness.

Directing a Project

Directing a project lets the project board oversee delegation.
Directing ensures projects have a solid justification and feasibility.
Project directing manages work stages with corrective actions.

Controlling a Stage

Controlling a stage maintains approved products and ensures deliverables meet quality criteria.
Controlling a stage ensures that only agreed upon products are worked on.

Closing a Project

Project closure ensures proper authorization and post-project benefit review scheduling.

Project Initiation

Project initiation authorizes the project team to begin; plans and estimates costs.
Project initiation addresses changes to agreed project deliverables.

Managing Stage Boundaries

Managing a stage boundary prepares the project for the next stage.
Managing a stage boundary updates project initiation documentation based on quality changes.
Managing boundaries reports on stage progress to the project board.

Premature Closure

Premature closure is authorized by the project board when the business case is no longer valid.

Iterative Changes

Project plans should accommodate iterative projects by utilizing multiple delivery stages to refine products.

Project Scope Changes

Changes to the business strategy require updated project plans accommodating changes.

Product Quality

Quality specifications define how products meet user expectations.

Product Reviews

Quality changes to products should be recorded in project initiation documentation for next stage.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

This quiz covers the foundational principles of project management, focusing on understanding project context, characteristics, and closure processes. It emphasizes the unique aspects of project work compared to ongoing operations and the importance of stakeholder involvement. Test your knowledge on how projects differ and how to adapt principles to suit various situations.