Chapter 5: Integration Management Flashcards
The knowledge area that incorporates and summarizes all of the work the project manager will need to do in order to successfully complete each phase of a project.
Integration Management
The process of developing a document that formally authorizes the project or phase and documents initial requirements to satisfy the stakeholders.
Develop Project Charter
This input consists of documents that contain specific information as to why the project should be initiated.
Business Documents
An input that states why a business should do a particular project.
Business Case
The ratio of benefit to cost, sometimes used to select one project over another.
Benefit-Cost Ratio
A method of project selection that looks at the return of a project as an interest rate.
Internal Rate of Return (IRR)
An economic term that represents the value of what you choose not to do in order to do something else.
Opportunity Cost
How long it takes to return the investment capital in the project.
Payback Period
The net value of a company over time equal to profits after tax minus the average cost of capital.
Economic Value Add (EVA)
The percentage that shows how much money you will get back on a project.
Return on Investment (ROI)
A plan used to describe the main benefits that the project will produce once it’s completed.
Project Benefits Management Plan
The document that officially authorizes the project to get started.
Project Charter
A log of all the assumptions and constraints that are identified throughout the project,
Assumption Log
The process of creating the plan that includes all of the subsidiary plans and baselines.
Develop Project Management Plan
A meeting that is usually held when the planning is complete and the team comes together to execute the project.
Project Kick-Off Meeting
A formal document that is used to describe how the project will be executed, monitored and controlled , and closed.
Project Management Plan
The baseline used to check the performance of a project as it is being executed.
Performance Measurement Baseline
Outlines what type of lifecycle a project will be following.
Project lifecycle description.
A document that will outline how the product will be developed.
Development Approach
The process of performing the work defined in the project management plan to create the deliverables.
Direct and Manage Project Work
The process that ensures that knowledge gained before, during and after the project is used for the organization’s benefit.
Manage Project Knowledge
Knowledge with a tangible form such as documents, procedures or manuals.
Explicit Knowledge
Knowledge that is understood or implied without being stated.
“Know How”
Tacit Knowledge
The sharing of generally tacit knowledge between stakeholders.
Knowledge Management
