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Risk management
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Governance
framework of authority and accountability that defines and controls outputs
How should I structure a 5-mark PMQ answer?
Make a point, Explain it, Apply it to the scenario and State the impact
What benefits can I use in governance answers?
Clear accountability, Better decision-making, Improved oversight and control, Strategic alignment, Increased stakeholder confidence, Ongoing business justification
What do stage gate reviews achieve?
Assess project performance, Review risks and issues, Confirm business justification, Support go/no-go decisions, Identify actions early
Governance keywords
Accountability, Oversight, Assurance, Escalation, Strategic alignment, Business justification, Informed decision-making, Compliance, Stakeholder confidence, Project success
Benefits of PMP
Is a single source of truth, enables clear communication of project information, outlines aseline for measuring progress, supports governance, ensures everyone understand project milestones and objective and acts as a contract between PM and Sponsor
What is the relationship between the Business Case and the Project Management Plan (PMP)?
The Business Case defines why the project is needed whereas the PMP defines how the project will be delivered. The business case is the why and the PMP is the how.