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Summary Financial Project Management

- Financial Project Management
- Sander Smit
- 2014 - 2015
- Tilburg University (Tilburg University, Tilburg)
- Organisatiewetenschappen
164 Flashcards & Notes
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A snapshot of the summary - Financial Project Management

  • Introduction to projects

  • What is a project?
    A project is a planned temporary endeavour undertaken to create a unique product or service or other complete and definite outcome (deliverable) within a limited time scale and budget.
  • What are the steps in the Value Creation Framework?
    1. Strategy->
    2. identify->
    3. Opportunity 1,2,3->
    4. select->
    5. Projects->
    6. contribute->
    7. Benefits   
  • What different activities are there in the PBO Value Chain?
    Directing Activities (strategic & marketing management f.e.)
    Primary Activities (project initiation & execution f.e.)
    Support Activities (Financial & HR management f.e.)
  • What is the project hierarchy?
    • Projects within the programme or portfolio
    • Sub-projects or sub-contracts
    • Work packages
    • Activities
  • What are the aspects of the Project Quality Framework?
    • Realising the product
    • Quality of the delivery process
    • Methodology/body of knowledge
    • Management standards
  • Project Life Cycle & Stakeholders

  • What are the characteristics of a project life cycle?
    • Defines the beginning and end of a project and is typically divided into phases/stages
    • Determines transaction action to take place at beginning and end of the project or stages (overlapping/fast tracking)
    • Level of uncertainty & risk
    • Resource allocation
    • Stakeholder influences
  • What are the five phases in the project life cycle?
    1. Need/Idea/Task ->
    2. Investigation -> Proposal to management/sponsor
    3. definition -> Project plan of execution
    4. mobilisation -> Funciontal project team |
    5. implementation -> implement and functional project
    6. close-out -> close out and review project
  • What are the characteristics of the project phases and stages?
    Marked by completion of deliverables and review to decide on continuation and detect and correct errors cost effectively
  • What are project stakeholders?
    People or organizations:
    • Who are affected by the project.
    • Who have influence or power over the project.
    • Who have interest in its success or unsuccessful conclusion.
  • Initiate, Define and Authorise

  • What does defining a project entail?
    Planning a project through the following steps:
    • Initiate and authorise the project. (Why) 
    • Define the projects scope. (What & Where) 
    • Defining the work. (How) 
    • Estimate time and cost efforts. (How long/much) 
    • Allocate responsibilities. (Who) 
    • Sequence the activities. (When) 
    • Plan control measures.        
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