Chapter 4: Project Integration Management Flashcards
ITTOS
Input
Tools
Techniques
Output
Future Value of Money
A benefit comparison model to determine a future value of money. The formula to calculate the future value
FV = PV*(1+i)^n FV = Future Value PV = Present Value i = Given interest Rate n = Number of time periods
Present Value of Money
A benefits comparison model to determine the present value of a future amount of money. The formula to calculate the present value is
PV = FV/(1+i)^n PV = Present Value FV = Future Value i = Given Interest Rate n = Number of time periods
Scope Creep/ Project Poison
They are the tiny, undocumented changes that sneak into the project.
Assumption Log
An assumption is something that is believed to be true or false, but it has not yet been proven to be true or false. Assumptions that prove wrong can become risks for the project. All identified assumptions are recorded in the assumption log for testing and analysis, and the outcomes are recorded.
Project Integration Management Processes
Initiating: Develop Project Charter Planning: Develop Project Management Plan Executing: 1) Direct and Manage Project Work 2) Manage Project Knowledge Monitoring and Controlling: 1) Monitor and Control Project Work 2) Perform Integrated Change Control Closing: Close Project or Phase
Develop Project Charter
It is a process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Develop Project Management Plan
It is the process of defining, preparing and coordinating all plan components and consolidating them into an integrated project management plan
Direct and Manage Project Work
It is the process of leading and performing the work defined in the project management plan and implementing approved changes to achieve the project’s objectives.
Manage Project Knowledge
It is the process of using existing knowledge and creating new knowledge to achieve the project’s objectives and contribute to organizational learning.
Monitor and Control Project Work
It is the process of tracking, reviewing and reporting the overall progress to meet the performance objectives defined in the project management plan
Perform Integrated Change Control
It is the process of reviewing all change requests; approving changes and managing changes to deliverables, project documents, and the project management plan; and communicating the decisions.
Close a Project or Phase
It is the process of finalizing all activities for the project, phase or contract.
Change Control Board
A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change
Change Control System
The change control system communicates the process of controlling changes to the project deliverables. This system works with the configuration management system and seeks to control and document proposals to change the projects documents.
Change Log
All changes that enter into a project are recorded in a change log. The characteristics of change such as time, cost, risk and scope details are also recorded.
Change Management Plan
This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved or declined.
Closure Processes
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.
Communications Management Plan
This plan defines who will get what information, how they will receive it and in what modality communication will be taking place
Configuration Identification
This includes the labeling of components, how the changes are made to the product and the accountability of the changes
Configuration Management Plan
This plan is an input to control scope process. It defines how changes to the features and functions of the project deliverable, the product scope may enter the project
Configuration Management System
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. Configuration management also documents the characteristics and function of the project’s products and any changes to a product’s characteristics.
Configuration Status Accounting
The organization of the product materials, details and prior product documentation.
Configuration Verification and Auditing
The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.
Contract Closure
The formal verification of the contract completeness by the vendor and performing organization
Cost Baseline
This is the aggregated cost of all the work packages within the work breakdown structure.
Cost Management Plan
This plan details how the project costs will be planned for, estimated, budgeted and then monitored and controlled
Explicit Knowledge
Knowledge that can be easily expressed through conversation, documentation, figures, or numbers is easily communicated.
Integrated Change Control
A process to consider and control the impact of a proposed change on the project’s knowledge area
Issue Log
Issues are points of contention where some questions of the project’s direction need 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
Mathematical Model
A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming and multiobjective programming.
Milestones
Milestones are significant points or events in the project’s progress that represent accomplishment in the project. Projects usually create milestones as a result of completing phases within the project.
Milestones list
This list details 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 goals.
Murder Board
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
Net Present Value
Evaluates the monies returned on a project for each period the projects’ last
Payback Period
An estimate to predict how long it will take a project to pay back an organization for the project’s investment of capital.
Project Charter
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.
Project Management Plan
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.
Project Scope Management Plan
Defines how the project scope will be planned, managed and controlled.
Quality Baseline
Documents the quality objectives of the project, including the metrics for stakeholder acceptance for project deliverables
Quality Management Plan
This plan defines what quality means for the project, how the project will achieve quality and how the project will map organizational procedures pertaining to quality
Regression Analysis
A mathematical model to examine the relationships among project variables, like cost, time, labour and other project metrics
Risk Management Plan
Risk is an uncertain event or condition that may affect the project outcome. The risk management plan defines how the project will manage risk.
Risk Register
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
Risk Responses Plan
This subsidiary plan defines the risk responses that are to be used in the project for both positive risks and negative risks
Schedule Baseline
This is the planned start and finish of the project. The comparison of what was planned and what was experienced is the schedule variance
Schedule Management Plan
Defines how the project schedule will be defined and managed
Scope Baseline
The scope baseline is the 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.
Scoring Model
These models use a common set of values for all projects up for selection. For example, profitability, complexity, customer demand and so on
Tacit Knowledge
Knowledge that’s more difficult to express because its personal beliefs, values, knowledge gained from experience and “know-how” when doing a task
