Integration Management Flashcards
Future Value of Money Formula
FV+PV(1+i)n
Present Value of Money Formula
PV+FV/(1+i)n
Net Present Value
Calculate return for each time period, calculate each time period’s present value, sum the present value, subtract investment, NPV 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 too poor, greater than zero is a decent project selection
Scope Management Plan
How scope will be defined, developed, monitored, controlled, and validated
Requirements Management Plan
How requirements will be analyzed, documented, and managed
Schedule Management Plan
Criteria and the activities for developing, monitoring, and controlling the schedule
Cost Management Plan
How costs will be planned, structured, and controlled
Quality Management Plan
How an organization’s quality policies, methodologies, and standards will be implemented int he project
Resource Management Plan
How project resources are categorized, allocated, managed, and released
Communication Management Plan
How, when, and by whom information will be administered and disseminated
Risk Management Plan
How risk management activities will be structured and performed
Procurement Management Plan
How the project team will acquire goods and services from outside of the performing organization
Stakeholder Engagement Plan
How stakeholders will be engaged in project decisions and execution
Scope Baseline
Scope statement, work breakdown structure, and the WBS dictionary
Schedule Baseline
schedule model that is used as a basis for comparison to the actual results
Cost Baseline
Time phased project budget that is used as a basis for comparison to the actual results
Change Management Plan
How change requests will be authorized and incorporated
Configuration Management Plan
How the information about the items of the project will be recorded and updated
Performance Management Plan
Integrated scope-schedule-cost plan for the project to measure and manage performance
Project Life Cycle
Phases that a project passes through
Development Approach
Product, service, or result development approach such as predictive, iterative, agile, or a hybrid model
Management Reviews
Points to review the project progress and performance
Alternatives Analysis
Corrective and prevent actions to fix problems and to prevent problems
Cost-benefit Analysis
Cost of the proposed corrective actions and the consideration of the benefits the actions will create
Earned Value Analysis
Earned value management is a suite of formulas that helps to show project performance
Root Cause Analysis
Determine what activities, people, organizational processes, or other factors are contributing to an effect
Trend Analysis
Recurring problems, threats, opportunities
Variance Analysis
Difference of planned and experience
Configuration Identification
Identification and documentation of the product and its components
Configuration Status Accounting
Includes the documentation of the product information
Configuration Verification and Auditing
Concerned with performance and functional attributes of the product
Your project is moving ahead of schedule. Management elects to incorporate additional quality testing into the project to improve the quality and acceptability of the project deliverable. What is this is an example of?
Integrated Change Control
In a Project Selection Model, what is the most important factor?
Business Needs
The project plan provides what with regard to project changes?
A guide to all future project decisions
Baseline variances, a documented plan to management variances, and a proven methodology to offer corrective actions to the project plan are all part of which process?
Integrated Change Control
One of the requirements of project management in your organization is to describe your project management approach and methodology in the project plan. You can best accomplish this requirement through which one of the following actions?
Compiling the management plans from each of the knowledge areas
