04-Project Integration Management-Terms

Question 1

Something that is believed to be true or false, but it has not yet been proven to be true or false. These things that prove wrong can become risks for the project. Once identified, they are recorded in the log for testing and analysis, and the outcomes are recorded.

Answer 1

Assumption log

Question 2

This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.

Answer 2

Benefit/cost ratio (BCR) models

Question 3

A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change.

Answer 3

Change control board (CCB)

Question 4

This system communicates the process for controlling changes to the project deliverables. This system works with the configuration management system and seeks to control and document proposals to change the project’s product.

Answer 4

Change control system (CCS)

Question 5

All changes that enter into a project are recorded in the change log. The characteristics of the change, such as the time, cost, risk, and scope details, are also recorded.

Answer 5

Change log

Question 6

This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved, or declined.

Answer 6

Change management plan

Question 7

This final process group of the project management life cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are also closed.

Answer 7

Closure processes

Question 8

This plan defines who will get what information, how they will receive it, and in what modality the communication will take place.

Answer 8

Communications management plan

Question 9

This includes the labeling of the components, how changes are made to the product, and the accountability of the changes

Answer 9

Configuration identification

Question 10

This plan is an input to the control scope process. It defines how changes to the features and functions of the project deliverable, the product scope, may enter the project

Answer 10

Configuration management plan

Question 11

This system defines how stakeholders are allowed to submit change requests, the conditions for approving a change request, and how approved change requests are validated in the project scope. It also documents the characteristics and functions of the project’s products and any changes to a product’s characteristics

Answer 11

Configuration management system

Question 12

The organization of the product materials, details, and prior product documentation.

Answer 12

Configuration status accounting

Question 13

The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.

Answer 13

Configuration verification and auditing

Question 14

The formal verification of the contract completeness by the vendor and the performing organization.

Answer 14

Contract closure

Question 15

This is the aggregated costs of all of the work packages within the work breakdown structure (WBS).

Answer 15

Cost baseline

Question 16

This plan details how the project costs will be planned for, estimated, budgeted, and then monitored and controlled.

Answer 16

Cost management plan

Question 17

Knowledge that can be quickly and easily expressed through conversations, documentation, figures, or numbers, is easily communicated.

Answer 17

Explicit knowledge

Question 18

A benefit comparison model to determine a future value of money. The formula to calculate future value is FV = PV(1 + I)n, where PV is present value, I is the given interest rate, and n is the number of periods.

Answer 18

Future value

Question 19

A process to consider and control the impact of a proposed change on the project’s knowledge areas

Answer 19

Integrated change control

Question 20

Issues are points of contention where some question of the project’s direction needs to be resolved. All identified issues are documented in the issue log, along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.

Answer 20

Issue log

Question 21

A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming, and multiobjective programming.

Answer 21

Mathematical model

Question 22

Milestones are significant points or events in the project’s progress that represent accomplishment in the project. Projects usually create milestones as the result of completing phases within the project.

Answer 22

Milestone

Question 23

This list details the project milestones and their attributes. It is used for several areas of project planning, but also helps determine how quickly the project may be achieving its objectives.

Answer 23

Milestone list

Question 24

These are committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project’s strengths and weaknesses, and to kill the project if it’s deemed unworthy for the organization to commit to. Also known as project steering committees or project selection committees.

Answer 24

Murder boards

Question 25

Evaluates the monies returned on a project for each period the project lasts.

Answer 25

Net present value

Question 26

An estimate to predict how long it will take a project to pay back an organization for the project’s investment of capital.

Answer 26

Payback period

Question 27

A benefit comparison model to determine the present value of a future amount of money. The formula to calculate present value is PV = FV ÷ (1 + i)n, where FV is future value, I is the given interest rate, and n is the number of periods.

Answer 27

Present value

Question 28

The procurement management plan controls how the project will acquire goods and services.

Answer 28

Procurement management plan

Question 29

This document authorizes the project. It defines the initial requirements of the project stakeholders. The project charter is endorsed by an entity outside of the project boundaries.

Answer 29

Project charter

Question 30

The documented approach of how a project will be planned, executed, monitored and controlled, and then closed. This document is a collection of subsidiary management plans and related documents.

Answer 30

Project management plan

Question 31

Defines how the project scope will be planned, managed, and controlled.

Answer 31

Project scope management plan

Question 32

Documents the quality objectives for the project, including the metrics for stakeholder acceptance of the project deliverable.

Answer 32

Quality baseline

Question 33

This plan defines what quality means for the project, how the project will achieve quality, and how the project will map to organizational procedures pertaining to quality

Answer 33

Quality management plan

Question 34

A mathematical model to examine the relationship among project variables, like cost, time, labor, and other project metrics.

Answer 34

Regression analysis

Question 35

Risk is an uncertain event or condition that may affect the project outcome. The risk management plan defines how the project will manage risk.

Answer 35

Risk management plan

Question 36

The risk register is a centralized database consisting of the outcome of all the other risk management processes, such as the outcome of risk identification, qualitative analysis, and quantitative analysis.

Answer 36

Risk register

Question 37

This subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks.

Answer 37

Risk response plan

Question 38

This is the planned start and finish of the project. The comparison of what was planned and what was experienced is the schedule variance.

Answer 38

Schedule baseline

Question 39

Defines how the project schedule will be created and managed.

Answer 39

Schedule management plan

Question 40

The scope baseline is a combination of three project documents: the project scope statement, the work breakdown structure, and the WBS dictionary. The creation of the project deliverable will be measured against the scope baseline to show any variances from what was expected and what the project team has created.

Answer 40

Scope baseline

Question 41

These models use a common set of values for all of the projects up for selection. For example, values can be profitability, complexity, customer demand, and so on.

Answer 41

Scoring models

Question 42

Knowledge that’s more difficult to express because it’s personal beliefs, values, knowledge gain from experience, and “know-how” when doing a task.

Answer 42

tacit knowledge