1314 Expectations For Gbs Projects And Programs Knowledge Check

The GBS Program Management Methodology applies when the focus is on delivering strategic objectives and benefits, when delivering multiple new capabilities, and when leading something identified as a Program in PPMC. However, it does not apply when a new solution will be deployed to multiple sites.

The next step in the GBS portfolio journey is Portfolio Choice Making. This involves making decisions on which portfolios to pursue based on various factors such as strategic alignment, resource availability, and market demand. It involves analyzing and evaluating different portfolio options and selecting the most suitable ones for implementation. This step is crucial in ensuring that the organization's resources are utilized effectively and that the chosen portfolios align with the overall business strategy.

The Service Category Lead Team will be able to authorize the start of a project in the future. This implies that they have the authority to make decisions regarding project initiation.

The CLT Portfolio Board has the final authority on making program tiering official. This means that they are responsible for making the final decision and approving the program tiers. They have the power to determine which programs should be classified under which tier and ensure that the tiering process is official and valid.

The PM in PPMC regularly updates the Health Status.

After the new simplified project form is introduced into PPMC, IMR Lifecycle projects will no longer be entered into PPMC. This means that these specific types of projects will not be included or recorded in PPMC anymore.

The characteristic of portfolio choicemaking that is NOT mentioned in the given options is that "Anyone can choose to start a project." In portfolio choicemaking, the decision of what projects to work on is typically made by GBS (Global Business Services) based on various factors such as strategic goals, resource availability, and market conditions. It is not a free-for-all where anyone can independently decide to start a project without any oversight or evaluation.

The CLT (Core Leadership Team) cares about Tier 2 projects in terms of how they are characterized. This implies that the CLT plays a significant role in determining the importance and priority of Tier 2 projects within the organization.

Project tiering refers to the categorization of projects based on their importance, complexity, and strategic value. The correct answer states that the project tier cannot be higher than the tier of its program. This means that a project cannot be assigned a higher tier than the program it belongs to. This is logical because the program represents a higher level of organizational structure and oversight, and the projects within the program should align with its overall tier.

The correct answer is "Whenever something changes". This is because updating the record in PPMC should be done whenever there is a change in the project, such as a new task being added, a task being completed, or any other relevant information that needs to be recorded. It is important to keep the record up to date to ensure accurate and current information is available for project management and reporting purposes.

In a Tier 2 program, only Tier 2 projects, Tier 3 projects, and WBS Elements are valid to appear. A Tier 1 project is not valid to appear in a Tier 2 program.

All Tier 1, 2, and 3 programs that have a budget of more than $500 million require benefits and ongoing costs to be entered in FMC. This means that these programs, regardless of their tier level, must provide information about the benefits they will deliver and the ongoing costs associated with their implementation in the FMC system.

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The Master Gate Readiness Checklist is the standard GBS tool that outlines all the expectations and alignments required before a project gate. It provides a comprehensive list of tasks and criteria that need to be met in order to ensure readiness for the next phase of the project. This checklist helps to ensure that all necessary preparations and requirements are in place before proceeding to the next stage, minimizing risks and ensuring smooth project progression.

A PM should share After Action Learnings with all of the mentioned stakeholders because each group plays a different role in the project. The PM CoE Librarian can use the learnings to update the organization's knowledge base. Service Managers and Service Category lead team can benefit from the learnings to improve service delivery. The project team can learn from the experiences to enhance future projects. Other PMs in the organization can gain insights and lessons from the learnings. By sharing with all of these groups, the PM ensures that the learnings are disseminated widely and can be applied effectively.

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Your target for project spending forecast accuracy should be between 95 to 105 index. This means that your forecasted spending should be within 5% lower or 5% higher than the actual spending. This range allows for a reasonable margin of error while still ensuring a relatively accurate forecast.

The statement "You only need to worry about managing CRP during one of the 5 forecast months" is not true regarding CRP management. CRP, which stands for Capital Resource Planning, is a process that involves planning and managing the allocation of financial resources for projects. It is important to continuously monitor and manage CRP throughout the year, not just during the forecast months. This ensures that funds are properly allocated and utilized for the intended projects.

A PO GR (purchase order goods receipt) should be entered when the service is confirmed as delivered. This means that the goods or services ordered through a purchase order have been received and verified as being delivered according to the agreed-upon terms. This step is important to ensure that the procurement process is properly documented and that the organization's inventory and financial records are accurate.

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Portfolio optimization analysis should be linked to the business strategy. This is because portfolio optimization aims to align the project selection and resource allocation with the overall strategic goals of the business. By linking the analysis to the business strategy, organizations can ensure that the selected projects contribute to the achievement of their strategic objectives and maximize the value of the portfolio.

Benefits should not be entered into FMC by the Program Manager.

The project management core best practices that are a priority for 13/14 are scope, requirements, cost, and schedule/time. These four factors are crucial for successful project management as they ensure that the project stays within its defined scope, meets the necessary requirements, stays within the allocated budget, and adheres to the planned schedule. By prioritizing these core best practices, project managers can effectively manage and control the project's scope, cost, and schedule, leading to successful project completion.

Project contingency should be used to protect against new project scope. Contingency is typically used to account for risks and uncertainties that may impact the project's cost or schedule estimates. It is meant to cover unexpected events or variations in the project's execution. However, project scope changes are usually managed through a separate process, such as change management, and should not be covered by project contingency. Therefore, it is not true that project contingency should be used to protect against new project scope.

QoD (Quality of Delivery) is not a GBS Project/Program Success Measure. The other options mentioned in the question, such as Client Aligned Success (CAS), On Time, On Cost, and On Quality, are all measures that are commonly used to assess the success of GBS projects or programs. However, QoD is not typically considered as a specific success measure in the context of GBS projects/programs.

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In traditional project management, defining the scope and requirements should ideally be done first. This is because the scope and requirements determine the overall goals and objectives of the project, as well as the specific deliverables and features that need to be included. Once the scope and requirements are clearly defined, it becomes easier to plan the schedule and due dates, allocate the budget, and develop a risk management plan. Without a clear understanding of the scope and requirements, it would be difficult to effectively manage the project and ensure its successful completion.

All of the options provided - Email gbsportfolio.im, IM gbsportfolio.im, GBS portfolio user PGPulse community, and Your PPL - are places where you can go to get help on Portfolio processes, PPMC, and FMC.

The GBS Requirements Management Framework categorizes requirements into four types: business requirements, user and stakeholder requirements, solution requirements, and transition requirements. Business requirements are the high-level objectives and goals of the organization. User and stakeholder requirements focus on the needs and expectations of the end-users and other stakeholders. Solution requirements define the specific features and functionalities of the proposed solution. Transition requirements address the activities and tasks needed to successfully implement the solution.

All of the options mentioned (PM CoE Library website, submitting a question to the PM CoE Librarian, contacting an Advanced/Master PM, and consulting your PPL) are sources where one can seek help on Project and Program Management.

MS Project is the recommended tool for managing project schedules because it is specifically designed for this purpose. Unlike Excel and PowerPoint, which are more general-purpose tools, MS Project offers features and functionalities that are tailored for project management, such as creating and managing tasks, assigning resources, tracking progress, and generating reports. It provides a comprehensive and efficient way to plan, schedule, and monitor projects, making it the preferred choice for project managers.