Integration Management Flashcards
Future Value Of Money Formula
FV=PV(1+i)^n
F = Future Value
PV=Present Value
I=Interest
N=Number of periods
Present Value of Money Formula
PV=FV/(1+I)^N
Net Present Value (NPV)
Add up Present value - Your investment =NPV
The bigger the NPV the bigger the project
Internal Rate of Return
Anything greater then 0 is good, Means your getting a return.
Assumption
Something you believe to be true but have not yet proven it to be true
Constraint
Anything that limits options
EX:
Policies and Procedures
Regulations
Predetermined Budget
Integration Management
Unification of all other knowledge areas
Combination of all knowledge areas
Integrated change control PROCESS
Examine effect of change on the whole project
What effect change will have on risk, Procurement, quality, etc
Develop Project Charter PROCESS
Doc that formally authorizes the project or phase and document initial requirements
Business Case
A document that says why a business should do a project
ROI
ROI=Net Return / Cost of Investment x 100
The bigger the ROI the better
Economic Value Add (EVA)
Net value of a company over time.
A business is only profitable if it creates values for its shareholders
Payback Period
How long it will take to return the investment capital. The shorter the better.
Faster they get money back the faster they can start another project.
Benefit Cost Ratio
PV of Benefit Expected from the Project / PV of the Cost of the Project.
Larger the ratio, the better
Project Benefits Management Plan
Document used to describe the main benefit that the project will produce once it is completed.
Could be the product, service, or result that the org is looking to obtain
Doc needs to be updated b/c as the project progresses, the more benefits are realized
Develop project Charter Process
Formally authorizes charter or phase and documents initial requirements to satisfy the stakeholders.
Usually developed by the sponsor while working with the PM
Once this is approved you identify stakeholders
Develop Project Management Plan Process
Includes all subsidiary plans and baselines
23 Planning processes produce the PM Plan
Only an approved change request and change a plan once it is approved
Once plan is complete you will need to get it baselined
PM Plan basics
18 Parts, 4 baselines, and 14 subsidiary plans
It can be summary or detailed
Once plan is baselined it can only be changed via approved
Broken into 2 parts; baselines and management plans
Configuration Management PLan
Outlines how components of a project can be configured
EX: a plan that discrbes how to configure each laptop
Direct and Manage Project Work Process
Performing the work in the project plan to create deliverables
PM is training, managing, and collecting data
Issue Log
Keep list of all the issues on a project
Updated continuously
Manage Project Knowledge Process
Insures that the knowledge that is gained, before, during
, and after the project is used for the orgs benefits.
Explicit Knowledge
Tangible
Includes documents, procedures, and manuals.
EX: Textbooks
Tacit Knowledge
Difficult to transfer by speaking. It is gained by doing work
