Strategy Execution Framework Quiz
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a stakeholder in the context of project management?

  • A team member
  • An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project (correct)
  • A project manager
  • An external consultant

    • What is a disadvantage of a matrix organizational structure?

  • More effective communication
  • Improved project manager control over resources
  • Inefficient utilization of resources (correct)
  • Clear career paths for team members

    • Why is loyalty to the project organization seen as an advantage?

  • It causes disengagement
  • It leads to territorial loyalty
  • It enhances team members' commitment (correct)
  • It results in conflicting priorities

    • In what way can a stakeholder affect a project according to the text?

    <p>By being positively or negatively affected by the outcome</p> Signup and view all the answers

    What can happen when team members do not have a designated 'home' during a project?

    <p>Confusion and lack of support</p> Signup and view all the answers

    How do stakeholders interact with projects according to the text?

    <p>Their interaction is an essential part of project management</p> Signup and view all the answers

    Why is the lack of a clear project manager career path considered a disadvantage?

    <p>It can hinder professional growth and motivation</p> Signup and view all the answers

    What is a characteristic of stakeholders' responsibility levels as per the text?

    <p>They can change over the course of the project</p> Signup and view all the answers

    'Interaction with stakeholders is an integral part of project management' implies that:

    <p>Engaging with stakeholders is crucial for effective project management</p> Signup and view all the answers

    What is a common problem associated with a functional organizational structure according to the text?

    <p>Lack of authority for the PM</p> Signup and view all the answers

    Study Notes

    Strategy Execution Framework

    • Utilizes project, program, and portfolio management, as well as organizational enabling practices to consistently and predictably deliver organizational strategy
    • Produces better performance, results, and a sustainable competitive advantage
    • Advances organizational capability by linking project, program, and portfolio management principles and practices with organizational enablers to support strategic goals

    Project Management

    • Application of knowledge, skills, tools, and techniques to project activities to meet project requirements
    • Managing a project includes: requirements identification, addressing stakeholder needs, managing stakeholders, setting up and maintaining communications, balancing competing project constraints
    • Constraints include: scope, quality, schedule, budget, resources, risk, and customer satisfaction

    Project Constraints

    • Constraints limit project options and are set by management, but managed by the PM
    • Used to evaluate competing demands
    • Changes to one component will affect the others

    Reasons for Project Authorization

    • Market demand
    • Customer request
    • Strategic opportunity or business need
    • Technological advance
    • Social need
    • Legal requirement
    • Environmental consideration

    Project Management Office (PMO)

    • Supports project managers by managing shared resources, identifying and developing methodology, best practices, and standards
    • Coaches, mentors, trains, and oversees project managers
    • Monitors compliance and develops organization process assets
    • Coordinates communication across projects

    Types of PMO Structures

    • Supportive: provides templates, best practices, training, and access to information and lessons learned from other projects
    • Controlling: requires compliance with methodologies or specific templates, forms, and tools
    • Directive: directly manages projects

    Project Management Approaches

    • Predictive (Waterfall): sequential approach, most planning is done up front
    • Adaptive (Agile, Scrum, etc): iterative approach, embraces change, fosters collaboration, and encourages frequent stakeholder engagement
    • Lean: focuses on maximizing efficiency, seeks to eliminate waste, and places high value on customer needs
    • Six Sigma: focuses on quality and consistency, sometimes used in conjunction with Lean
    • Critical Path Method (CPM): focuses on which activities yield the greatest benefit

    The Project Manager

    • The person assigned by the performing organization to lead the team responsible for achieving project objectives
    • Possesses the authority necessary to accomplish the project work
    • Needs to possess knowledge, performance, and personal effectiveness competencies to be effective
    • Interpersonal skills include: leadership, team building, motivation, communication, influencing, decision making, political and cultural awareness, negotiation, trust building, conflict management, and coaching

    Organizational Structures

    • Projectized: the company is organized by projects
    • Functional: the company is organized by areas of specialization (e.g., accounting, marketing, etc.)
    • Matrix: a hybrid of functional and projectized structures

    Organizational Structures Advantages and Disadvantages

    • Functional: centralized resources, more support from functional, clear career paths, efficient project organization
    • Disadvantages: more than one boss, no "home" when project is over, no PM career path
    • Matrix: improved PM control over resources, more support from functional, efficient project organization
    • Disadvantages: more than one boss, no "home" when project is over, no PM career path
    • Projectized: clear PM control over resources, efficient project organization, team members report to only one supervisor
    • Disadvantages: no "home" when project is over, no functional career path

    Stakeholders

    • An individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a project
    • Can be positively or negatively affected by the project outcome
    • Must be identified to determine project requirements
    • Have varying levels of responsibility that can change over the course of the project

    Studying That Suits You

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

    Quiz Team

    Description

    Test your knowledge on a framework that utilizes project, program, and portfolio management along with organizational enabling practices to deliver organizational strategy effectively. Explore how it links management principles with organizational enablers to support strategic goals.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser