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PM TERMS > Integration Management > Flashcards

Integration Management Flashcards

1
Q

Future Value Of Money Formula

A

FV=PV(1+i)^n
F = Future Value
PV=Present Value
I=Interest
N=Number of periods

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2
Q

Present Value of Money Formula

A

PV=FV/(1+I)^N

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3
Q

Net Present Value (NPV)

A

Add up Present value - Your investment =NPV
The bigger the NPV the bigger the project

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4
Q

Internal Rate of Return

A

Anything greater then 0 is good, Means your getting a return.

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5
Q

Assumption

A

Something you believe to be true but have not yet proven it to be true

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6
Q

Constraint

A

Anything that limits options
EX:
Policies and Procedures
Regulations
Predetermined Budget

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7
Q

Integration Management

A

Unification of all other knowledge areas
Combination of all knowledge areas

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8
Q

Integrated change control PROCESS

A

Examine effect of change on the whole project
What effect change will have on risk, Procurement, quality, etc

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9
Q

Develop Project Charter PROCESS

A

Doc that formally authorizes the project or phase and document initial requirements

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10
Q

Business Case

A

A document that says why a business should do a project

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11
Q

ROI

A

ROI=Net Return / Cost of Investment x 100
The bigger the ROI the better

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12
Q

Economic Value Add (EVA)

A

Net value of a company over time.
A business is only profitable if it creates values for its shareholders

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13
Q

Payback Period

A

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.

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14
Q

Benefit Cost Ratio

A

PV of Benefit Expected from the Project / PV of the Cost of the Project.
Larger the ratio, the better

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15
Q

Project Benefits Management Plan

A

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

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16
Q

Develop project Charter Process

A

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

17
Q

Develop Project Management Plan Process

A

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

18
Q

PM Plan basics

A

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

19
Q

Configuration Management PLan

A

Outlines how components of a project can be configured
EX: a plan that discrbes how to configure each laptop

20
Q

Direct and Manage Project Work Process

A

Performing the work in the project plan to create deliverables
PM is training, managing, and collecting data

21
Q

Issue Log

A

Keep list of all the issues on a project
Updated continuously

22
Q

Manage Project Knowledge Process

A

Insures that the knowledge that is gained, before, during

, and after the project is used for the orgs benefits.

23
Q

Explicit Knowledge

A

Tangible
Includes documents, procedures, and manuals.
EX: Textbooks

24
Q

Tacit Knowledge

A

Difficult to transfer by speaking. It is gained by doing work

25
Q

Lesson Learned Register

A

stores all of the lessons learned as the project is being executed

26
Q

Monitor and Control Project Work Process

A

Tracking, reviewing, and reporting the progress of the project work.
Goal is to keep project on plan

27
Q

Perform Integrated change control Process

A

Reviewing all change request and approving or rejecting them.

  1. Record Change
  2. Assess Change ( Impact on Project)
    3.Approve or reject

Once a change has been approved, the PM Plan can be updated

28
Q

Change Control Board CCB

A

Can be used to review, evaluate, approve, or reject change

29
Q

Agile Integrated Change Control Process

A

change control goes through product owner instead of CCB on an agile Project
If someone wants to add a project feature it just gets added to the product backlog that is re-prioritized by the product owner

30
Q

Change Control Tools

A

Manuel or automated tools used to manage the change request

31
Q

Close Project Phase Process

A

Formalizing all activities and overall PM process groups to formally complete the project, phase, or contract.

1.Reviews to make sure all work is completed correctly
2.Transfer deliverables to production
3.Capture lessons learned
4.Release the project
5.Update template and knowledge bases

If a project is terminated early you still follow closing procedures

PM TERMS (14 decks)

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