4 - Project Integration Management Flashcards
Assumption Log
Assumption = something believed to be true or false, but no proof yet.
Assumptions proven wrong can become risks for the project.
All assumptions recorded in Assumption Log for testing and analysis - outcomes are recorded.
Benefit/cost Ratio (BCR) Model
An example of a benefits comparison model.
Examines the benefit-to-cost ratio.
Change Control Board (CCB)
Committee that evaluates worthiness of proposed change and either approved or rejects the proposed change.
Change Control System (CCS)
CCS communicates the process for controlling changes to the project deliverables.
System works with configuration management system and seeks to control and document proposals to change the project’s product.
Change log
All changes that enter a project recorded here.
Also recorded: characteristics of the change (time, cost, risk, scope details).
Change Management Plan
Details the project procedures for entertaining change requests:
- how change requests are managed, documented, approved, declined.
Closure Process
Final process group of PM life cycle - responsible for closing the project phase or project.
Project documentation is archived.
Project contracts are closed.
Communications Management Plan
Defines who will get what info,
How it is received,
Modality of communication.
Configuration Identification (you should review configuration in the PMBOK)
Includes labeling of the components, how changes are made to the product, accountability of the changes.
Configuration Management Plan
An input to control scope.
Defines how changes to the features and functions of the project deliverable and scope may enter the project.
Configuration Management System
Configuration management = managing changes to the product.
From PMBOK: a collection of procedures used to track project artifacts and monitor and control changes to these artifacts.
Defines how stakeholders are allowed to submit change requests, conditions for approval, and how it is validated - in the project scope.
Also documents characteristics and functions of the project’s products and changes to product characteristics.
Configuration Status Accounting
Organization of product materials, details, and prior product documentation.
Configuration verification and auditing
Scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.
Contract Closure
Formal verification of the contract completeness by the vendor and the performing organization.
Cost Baseline
Aggregated costs of all the work packages within the work breakdown structure (WBS)
Cost Management Plan
Details how costs will be planned for, estimated, budgeted, monitored/controlled.
Explicit knowledge
Quickly and easily expressed through conversations, documentation, figures, numbers.
Easy to communicate.
Future Value
FV = PV(1 + I)^n
Benefit comparison model to determine future value of money.
I = interest rate n = number of periods
Integrated Change Control
Process to consider and control the impact of a proposed change on the project’s knowledge areas.
Issue log
Issue = point of contention - project direction needs to be resolved.
All issues documented in issue log. Also:
- owner
- deadline to resolve
- outcome
Mathematical Model
Project selection method to determine likelihood of success.
Linear/nonlinear/dynamic/integer/multiobjective programming
Milestone
Significant point or event in the projects progress that represent accomplishments in the project.
Projects usually create milestones as the result of completing phases within the project.
Milestone List
Details milestones and their attributes.
Used for several areas of project planning, also helps determine how quickly the project may be achieving its objectives.
Murder boards
Committees that ask every conceivable negative question about the proposed project.
Goals to expose strengths and weaknesses, and kill it if needed.
AKA project steering/selection ctte.
Net Present Value
Evaluates monies returned on a project for each period the project lasts.
Greater than zero is good.
Involves finding present value of each period (year), adding that up.
Payback Period
Estimate to predict how long it will take project to pay back an organization for the project’s investment of capital.
Present Value
Benefit Comparison Model to determine present value of a future amount of money.
PV = FV / (1 + I) ^n
FV = future value I = Interest rate
Procurement Management Plan
Controls how project will acquire goods and services
Project Charter
Document that authorizes the project.
Defines initial requirements of the stakeholders. Endorsed by entity outside of the project boundaries.
Project Management Plan
Documented approach of how a project will be planned, executed, monitored/controlled, closed.
Collection of subsidiary management plans and related docs.
Project Scope Management Plan
Defined how scope will be planned, managed, controlled.
Quality Baseline
Documents quality objectives for the project, including metrics for stakeholder acceptance of the project deliverable.
Quality Management Plan
Defines what quality means for the project, how project will achieve quality, how project will map to organizational procedures pertaining to quality.
Regression Analysis
Mathematical model to examine the relationship among project variables (cost, time, labor, and other metrics).
Risk Management Plan
Risk is an uncertain event or condition that may affect the project outcome.
RM Plan defines how the project will manage risk
Risk Register
Centralized database consisting of the outcomes of all other risk management processes, such as outcome of risk identification, qualitative/quantitative analysis.
Risk Response Plan
Subsidiary plan defines risk reponses that are used for positive and negative risks.
Schedule Baseline
Planned start and finish.
Comparison of baseline and actual is the schedule variance.
Schedule Management Plan
Defines how schedule will be created and managed.
Scope Baseline
Combination of 3 docs:
- project scope statement
- work breakdown structure
- WBS dictionary
Creation of deliverable will be measured against the scope baseline to show any variances from what was expected and what the project team has created.
Scoring Models
Use common set of values for all of the projects up for selection.
e.g. profitability, complexity, customer demand.
Tacit Knowledge
Personal beliefs, values, lived experience, “know-how”
More difficult to express.
