APM Project Fundmentals
Define Project - correct answer ✔A unique transient endeavour undertaken
to bring about change and achieve planned objectives
Define project management - correct answer ✔The application of processes
methods knowledge and skills and experience to achieve specific objectives
for change
6 Main Objectives of Projects - correct answer ✔1. Scope (What + How?) 2.
Quality 3. Time 4. Risk 5. Benefit 6. Cost - all interlinked and affect each other
What is the 7th Objective of Projects - correct answer ✔Safety - must not be
compromised
What are Project Managers for? - correct answer ✔PM's are responsible for
delivering the scope to the right standard within the constraints of cost + time
whilst managing the risks.
What is the purpose of Benefits - correct answer ✔Benefits justify the
project. BAU takes the outputs and transforms them into outcomes and
benefits are realised.
What is the difference between PM and BAU - correct answer ✔PM: capital
funded, creates outputs, specialised skills, focused on standard of output,
unique + time bound, risk aware (only mitigates high priority risks), does not
use pre-defined set of techniques.
,BAU: repetitive (process management), Risk averse (mitigates all risks),
revenue funded, functional skills, focused on continuous improvement. of
processes, delivers outputs.
Define Programme - correct answer ✔A unique transient endeavour
undertaken to achieve beneficial change and incorporates a group of related
projects and BAU activities. 'Collection of related projects'
Define Programme Management - correct answer ✔The coordinated
management of projects and BAU (change management) activities to achieve
beneficial change.
What is change management? - correct answer ✔The way in which
outcomes from a project are embedded within BAU to become outcomes and
benefits.
What does PESTLE stand for? - correct answer ✔Political, Economic,
Social, Technological, Legal, Environmental
Project environment - correct answer ✔A collective term for the societal and
or organisational setting of a project, programme or portfolio/ The environment
in which a project is undertaken/operates both internally and externally
Project Managament is best suited to? - correct answer ✔Introducing change
What is the PM responsible for? - correct answer ✔Managing the completion
of required deliverables/outputs
, The sponsor/client's focus for the project is reflected in - correct answer ✔the
importance the sponsor/client gives to the time, cost, quality and performance
of the project
Does a project us a pre-defined set of techniques - correct answer ✔No
Define Programme - correct answer ✔A unique transient endeavour
undertaken to achieve beneficial change and incorporates a group of related
projects and BAU activities
Define portfolio - correct answer ✔A collection of projects, programme and
BAU activities used to structure and manage investments at an
organisational/functional level to optimise strategic benefits or operational
efficiency
Portfolio Management - correct answer ✔The selection, prioritisation and
control of and organisations projects and programmes in line with strategic
objectives.
Define programme management - correct answer ✔The coordinated
management of projects and change management activities to achieve
beneficial change.
Programme vs Projects - correct answer ✔Programme: longer term, has
business case, focused on creating outcomes and benefits, greater ability to
deliver to economies of scale, wider group of stakeholders, manages the
dependencies between projects.
Project: shorter time frame, focused on delivering outputs on time cost and to
required standard, has business case but enabling projects rely on the
programme business case for justification, focused on delivering outputs,
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