Deck 2 Flashcards
Project charter inputs
- Business case
- Project benefits management plan
- Agreements
Brainstorming
Gather as much information as possible, or a list of ideas, in a short time
Focus group
Attain expert information from pre-qualified Subject Matters Experts (SME)
Interviews
Use prepared- then spontaneous questions to attain expert input
Two outputs from Develop Project Charter
- Project Charter
- Assumption Log
Project Charter
Define scope at a high-level and serves as the foundation for project planning. Strive to satisfy the needs of the project charter during project planning in its entirety
What are 6 things done before finalize plan?
- Change management plan
- Configuration management plan
- Performance management baseline
- Project lifecycle
- Development approach
- Management reviews
Configuration management focuses on:
Identify
Record
Verify and Audit
Integrated Change Control Management Process
- Log and evaluate the impact of the requested change
- Determine options to implement the change
- Coordinate with the approval authority
- Process the change and gain buy in
Five process groups in order
Initiate Planning Executing Monitor and control Closing
2 processes in the Initiating Process Group
- Develop Project Charter
- Identify stakeholders
Depreciation
Dollars you can subtract due to loss value of assets
NPV
The best way to determine financial merit in dollars
IRR
The best way to determine financial merit in a percentage
Opportunity Cost
The lost revenue from a choice not taken
EVA
A measure of returns based on shareholder valuation
ROI
(Returns-expense/expense)
Payback
The worst financial metric to use for a long-term project
BCR
Benefit/cost
ROIC
Measure of value achieved in year 1
How is the project management plan developed in order?
1-Stakeholder engagement plan 2- Scope baseline 3- Cost and share baseline 4- Support plans 5- Risk register
What are the first two executing process completed?
Acquire resources
Conduct procurements
After deliverable is produced, what are the first 2 processes that must occur in order?
1-Control quality
2-Validate scope
True or False- Close project in phase is accomplished once
False
In order what are the seven processes accomplish during the project integration management?
1-Develop project charter 2-Develop project management plan 3-Direct and manage project work 4-Manage project knowledge 5-Monitor and control project work 6-Perform intergraded change control 7-Close project or phase
Sponsor
Approved the project charter
Pre-baseline
Term used when project charter is approved
Business case
Input that determines feasibility for a project
Data gathering techniques
Brainstorming focus groups and interviews
Assumption logs
Documents what we believe to be true and constraints
Agreements
MOU, contract, SLA
Funding
Factor that determines the level of sponsorship
Benefits management plan
Document expected intangible gains from a project
Key inputs that drive developed project management plan
Project charter
Outputs for other processes
EEF
OPA
The final project management plan must be ___ and ___ before it becomes the ___
Approved
Accepted
Baseline
The meeting that seek stakeholder acceptance is the ___
Project kick off meeting
Three key plans are created in the develop project management plan process. They include
- Change management plan -Performance management baseline
- Configuration management plan
All approved to change request or sent to the ___ process group
Executing
Issue Log
Manage and track issues that occur
Deliverables
Completed product or service
Change requests
Prevention, corrected, or defect repair
Work performance data
Raw data received during a project
Updates
Assumption log, lessons learned
The lessons learned register is produced during the ___ process which occurs in the ___ process group
-Manage product knowledge -Executing
Tacit knowledge
Personal and difficult to express such as beliefs, insights, or experience
Explicit knowledge
Readily codified using words pictures and numbers
Trust
Key to motivating people to share knowledge
___ ___ ___is gathered during project executing and compile during monitor and control process. During monitor and control, work performance data is used to create ___ ___ ___
- Work performance data
- work performance information
Cost benefit analysis
Determine best correct of action in terms of cost
Alternative analysis
Select corrected for preventative action to take one a deviation occurs
Variance analysis
Review planned versus actual results to determine the most appropriate preventative for correct of actions
Root cause analysis
Identify main reasons for a problem
Earned value analysis
Provides overview of scope cost and schedule performance
Trend analysis
Forecast future performance based on the past results
What is the number one goal of integrated change control?
Influence factors that lead to change
Any change after the ___ is established must go through integrated change control. Formally charted group that reviews and approves changes is called the ___ ___ ___. Two compression techniques used as options to accelerate a schedule are ___ and ___ ___.
Baseline
Change control board
Crashing
Fast tracking
What is the four step integrated change control process?
Log and evaluate
Determine options
Make recommendations
Process change
What are for data analysis techniques used during close project or phase
Document analysis
Regression analysis
Trend analysis
Variance analysis
What are five outputs from the close project or phase process?
Project document updates Lessons learned register update Final product or service Final report Organizational process update
