Project Management FAQs
What is a Project?
A project typically involves a group of resources that are dedicated to performing a series of inter-related activities that are planned and then executed in a certain sequence to create a unique product or service within a defined start and finish time frame.
A USQ project is characterised as having:
- definable, measurable project outcomes that relate to USQ goals;
- project outputs (required for the attainment of the project outcomes) produced by a project team(s)
- project governance structure
- well-defined project team(s)
- criteria to measure project performance.
All project management methodology documentation will be proportional or scalable depending on the size of the project, investment required and the risks associated with the successful implementation and operation of the initiative. ICT Services has developed an ICT Project Management Methodology Project Sizing and Project Phase Checklist to assist stakeholders consider what elements to include in the various document submissions.
What is Project Management?
According to the Project Management Institute, project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet or exceed stakeholder needs and expectations from a project.
Project Management ensures that the available resources are used in the most effective and efficient manner to support the successful attainment of the project goals and objectives. It is the application of a combination of tools and techniques that assist to assure the attainment of the project schedule, resources and quality attributes.
The USQ ICT Project Management Lifecycle consists of five stages:
1. Notification
2. Initiation
3. Execution and Control
4. Closure
5. Accreditation/Review
What approval is required before a project can commence?
Before a project can start, it must be approved by the ICT Portfolio Committee. This normally takes the form of the Project Initiation Document being approved and funding allocated to the specific project budget. The Project Management Lifecycle describes the entire process.
What is a ICT Project Initiation Concept Form?
Please refer to the Notification Phase.
What is a Project Initiation Document or Business Case?
Please refer to the Initiation Phase.
Who do I speak to regarding a funding proposal that might require ICT Resources?
It may not always be obvious when an ICT Project Initiation Concept Form is required. In some cases, staff will be submitting funding applications for grants and research proposals without a clear indication that approval will occur. It is preferable to contact ICT Services in advance to ensure that all ICT aspects are considered in your proposal in order to avoid unnecessary delays or issues later on.
The extent of resources required will determine the pathway required. Contact the Director Planning for further advice regarding the possible pathway to follow.
What is Benefits Realisation and why is it important?
The University, like most organisations, has finite resources that must be allocated wisely in order to achieve a positive outcome to the University. When selecting which Project Initiation Document proposals to allocate funding and resources, the ICT Portfolio Committee will seek assurances that funding will deliver positive benefits to the University.
The Project Initiation Document should provide the funding and decision-making groups with a clear business rationale for the project’s activities (i.e. the business value and benefits). It should list only those benefits contained within the scope of the project. Benefits and measurements should be agreed with the Project Sponsor, the relevant business owner plus other key stakeholders prior to the submission of the proposal. The Project Team and Steering Committee will need to track these benefits during the life of the project and confirm the achievement and timing of benefits in the Project Review and Closure phase. Suggested Benefit categories are below:
- Strategic Alignment: Projects should clearly document how the project relates to the strategic goals of USQ and should be specific as to how they support strategic priorities of USQ, Faculties or Divisions. Refer to the latest version of the USQ Strategic Plan.
- Business Value: Describe if there are positive systems and staff resource impacts i.e. significantly or marginally reduces systems and or staff resources required.
- Service/Process Efficiency and Effectiveness: Identify if there is efficiency or effectiveness gain and whether it is able to be quantified.
- Financial Benefits: Include the measure of determining savings (total university costs reduced) or generation of additional income. How to use standard techniques like Return on Investment and Net Present Value are easily available on the Internet and in textbooks, if required.
- Other Benefits: Compliance, legislative, or local benefits.
Why is ICT Accreditation important?
When reviewing and evaluating proposals for budget allocations, one criteria to consider is the contribution of the proposal or investment to the Business Investment Portfolio. That is, does the proposal under consideration result in:
- Running the Business,
- Growing the Business, and/or
- Transforming the Business.
The intention should be to apply a balanced portfolio approach whereby the proportion of funding allocation should be weighted towards the Grow and Transform categories.
The University will also want to consider using something like TIME for Asset Portfolio Analysis as a mechanism for evaluating or accrediting the investment in ICT solutions and consciously assessing their contribution to the University. TIME stands for:
- Tolerate
- Invest
- Migrate
- Eliminate
The business models and drivers will change over time and it is essential that all ICT products and services that comprise the ICT Portfolio continue to deliver a positive return on investment. Accreditation is the process that will be employed to review the ICT Portfolio on a regular basis to ensure that all aspects are supporting the goals of the University.
What is Risk Management?
Risk management describes the processes concerned with identifying, analysing, and responding to project risk. Risk management consists of risk identification, risk analysis, risk evaluation, and risk treatment. The processes are iterative throughout the life of the project and should be built into project management activities.
Risk management is conducted initially as part of the assessment of the project's viability, and documented in the Business Case or Project Initiation Document, depending on the size of the project. This occurs during the Initiation Stage of the project. It is also conducted throughout the project to ensure that changing circumstances are tracked and managed.
All projects require a degree of risk management, but the effort expended will depend on the size and scope, including outcomes, clients, outputs, work, and resources. Larger projects involving significant investment and/or major outcomes require formal and detailed risk management activities on an ongoing basis.