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33 Cards in this Set
- Front
- Back
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Project Stakeholders
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Individuals and organizations
that are: involved in the project, or affected by the project execution or completion |
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Project stakeholders include...
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project manager
customer or users performing organisation project team members project sponsor and others such as external agencies suppliers government agencies members of the public |
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STAKEHOLDER Role Project manager Contributes:
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Defines, plans, controls and
leads project |
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STAKEHOLDER Role Project team Contributes:
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Skills and effort to perform
tasks |
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STAKEHOLDER Role Sponsor Contributes:
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Authority, guidance, funding,
and maintains project priority |
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STAKEHOLDER Role Customer Contributes:
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Product requirements, funding
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STAKEHOLDER Role Functional management Contributes:
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Company policy, resources
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Organizational Structure Types: Functiona
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• Hierarchy where each employee has one clear superior
• Staff are grouped by specialty (production, marketing etc.) • Each department completes project work independently from other departments |
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Organizational Structure Types: Projectized
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• Team members are co-located,
• Most organizational resources are involved in project work • Project Managers have a great deal of independence and authority. |
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Organizational Structure Types: Weak Matrix
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• Maintain many of the characteristics of a functional organization
• Project Manager role is a coordinator or expediter |
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Organizational Structure Types: Strong Matrix
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• Many of the characteristics of a Projectized Organization
• Full-time project managers with considerable authority and full-time project administrative staff. |
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Organizational Structure Types: Balanced Matrix
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• Recognizes the need for a project manager, but does not give the
PM the full authority needed. |
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Organizational Structure Types: Composite
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• Fundamentally functional organization may create a special project
team to handle a critical project. • Project team would have similar characteristics to a projectized organization. |
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Functional Type Organization
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Used in businesses that sell and produce standard
products Individuals report into a functional manager Periodically undertake in-house projects Team members can be assigned to the project Team members continue regular functional jobs Project manager does not have complete authority over team Communications flow between functional managers |
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Functional Organization Features
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Advantages
Reduces duplication and overlap of activities Provides specialization and functional excellence Disadvantages Can be insular; teamwork is not emphasized Decisions may be parochial Structure can slow communication, problem solving and decision making Lack of customer focus Stronger allegiance to function than project |
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Projectized Organization
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Used in companies in the project business,
not selling products. Organization will have multiple projects underway at the same time. Generally the Project team is dedicated to one project. Project manager has complete authority over team. Each project team tends to be isolated. |
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Projectized Organization Features
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Advantages
Team has full control over resources Organization is highly responsive to customer Disadvantages Can be cost inefficient Tendency to stretch out work during slow periods Potential for duplication on concurrent projects. Low level of knowledge transfer No functional “home” People may be laid off at the end of the project |
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Matrix-Type Organization
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A mix of functional and project organization
structures. Provides project and customer focus. Retains functional expertise. Individuals can be assigned to various types of projects. Both project managers and functional managers have responsibilities The Project Manager is the intermediary between customer and company The Functional Manager decides how tasks will be accomplished |
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Matrix Organization Features
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Advantages
Allows efficient utilization of resources Individuals can be moved among projects Provides a core of functional expertise Facilitates information flow Customer focused Disadvantages Team members have a dual reporting relationship A proper balance of power must be established between project and functional managers Conflicts regarding priorities can arise between managers |
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Projects are authorized as a result of:
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Market Demand
Organizational Demand Customer Request Technological advance Legal requirement Ecological Impact Social need |
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Project Charter I-TT-O
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Inputs
• Project Statement of Work • Business Case • Contract • Enterprise Environmental Factors •Organizational Process Assets Tools and Techniques • Expert Judgment Outputs • Project Charter |
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Identifying potential projects
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1. Develop an strategic plan based on the
organization’s overall strategic plan 2. Then perform a business area analysis 3. Then define potential projects 4. Then select projects and assign resources |
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Project Selection Methods
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focusing on broad needs
categorizing projects financial methods weighted scoring models |
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Three important criteria for projects:
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There is a need for the project
There are funds available There’s a strong will to make the project succeed |
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Categorizing Projects
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One categorization is whether the project addresses
a problem an opportunity a directive Another categorization is how long it will take to do and when it is needed Long-term vs. immediate delivery Another is the overall priority of the project Where does it fit in the organization’s strategy? |
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projected financial value of projects:
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Net present value (NPV) analysis
Return on investment (ROI) Payback analysis |
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Net Present Value Analysis
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Net present value (NPV) analysis is a method of
calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time Proposals with a positive NPV should be favored - if financial value is a key criterion The higher the NPV, the better |
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Return on Investment
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Return on investment (ROI) is income divided by
investment ROI = (total discounted benefits - total discounted costs)/ discounted costs The higher the ROI, the better Many organizations have a required rate of return or minimum acceptable rate of return on investment for projects |
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Payback Period Analysis
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Payback period (PBP) analysis is another
important financial consideration The payback period is the amount of time it will take to recoup, in the form of cash inflows, the funds invested in a project Payback occurs when the cumulative benefits (revenue or savings) exceeds the total costs Many organizations want projects to have a fairly short payback period |
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Weighted Scoring Model
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Tool to select projects with
many criteria 1: Identify criteria 2: Assign weights (percentages) to criterions (SUM=100%) 3: Assign scores to each criterion 4: SUM (Scores*Weight) Higher= Better |
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Project Charter
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1: Document formally recognizes existence of project
2: Provides direction on objectives and management 3: Establishes authorization for the project 4: Key project stakeholders sign charter to acknowledge projeect need 5: partnership between the performing organization and the requesting organization 6: May delegate the creation of the project charter to the PM |
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Project Charter contains...
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1: Initial requirements
2: Key deliverables 3: Financial resources and limitations 4: Priorities 5: Objectives Alignment 6: Leadership |
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Project Statement of Work
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Documents characteristics of the product or
service From the customer point of view High level Relationship between product or service and the business need Supports strategic plan |
