CH04 Project integration Management Flashcards
Future Value of money?
FV=PV(1+i)n FV is future Value PV is present value i is the given interest rate n is the number of time periods
Present value of money
PV=FV/(1+i)n FV is future Value PV is present value i is the given interest rate n is the number of time periods
What is NET present value?
Net present value:
finds the true value of the project
consider the project with multiple returns
considers the initial cash outlay
Calculate the return for each time.
Calculate each time periods present value
sum the present value
subtract the investment
net present value greater than zero is good
Internal rate of return
Present value equals cash inflow
IRR with higher values are good
IRR with lower values might be poor
what are the tools and techniques for:
Develop project charter
Expert judgment: consultants internal organizational resources stakeholders industry groups PMO
facilitation techniques:
brainstorming
conflict resolution
meeting management
Developing a project charter. What should be included?
Requirements for satisfaction approval requirements project manager Project sponsor high level purpose of the project Purpose of the project milestone schedule stakeholder influence risks Functional organizations summary budget contract
what are the tools and techniques for:
Develop project management plan
Expert judgment
facilitation techniques
What are corrective actions
Fixing the project
defect repair
defect repair validation
What are preventive actions
Safety
training
anticipated problems
risk management
What are enterprise environmental factors
Government and industry standards
company work authorization system
risk tolerance
Project management information system
What are organizational process assets
Communication requirements financial control procedures issues in defect management procedures change control procedures risk control procedures process measurement database lessons learned database
