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Hot Topics > Integration Management > Flashcards

Integration Management Flashcards

1
Q

What is the process of integration

management?

A

Develop Project Charter

Develop Project Management Plan

Direct and Manage Project Work

Monitor and Control Project Work

Perform Integrated Change Control

Close Project or Phase

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2
Q

What is the Develop Project Charter
process?

What is its key output?

A 
Creating the project charter, which
formally establishes the project and gives
the project manager authority to spend
money and commit resources to the
project

Output: Project Charter

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3
Q

What is the Develop Project
Management Plan process?

What is its key output?

A

The process of creating a project
management plan that is bought into,
approved, realistic, and formal

Output: Project management plan

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4
Q

What are the key outputs of the Direct

and Manage Project Work process?

A

Deliverables

Work performance data

Change requests

Updates to the project management plan
and project documents

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5
Q

What are the key outputs of the Monitor

and Control Project Work process?

A

Change requests

Work performance reports

Updates to the project management plan
and project documents

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6
Q

What are the key outputs of the Perform

Integrated Change Control process?

A

Approved change requests

Change log

Updates to the project management plan
and project documents

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7
Q

What are the key outputs of the Close

Project or Phase process?

A

Final product or service

Formal acceptance of project or phase

Lesson learned and other organizational
process assets updates

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8
Q

Explain the project manager’s role as an

integrator

A

Making sure all the pieces of the project
are properly coordinated and put
together into one cohesive whole

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9
Q

What are the two major categories of

project selection methods?

A

Benefit measurement (comparative)

Constrained optimization
mathematical

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10
Q

What are the economic models for

selecting a project?

A

Present value

Net present value

Internal rate of return

Payback period

Cost-benefit analysis

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11
Q

Define present value

A

The value in today’s dollars of a future

cash flow

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12
Q

Define net present value (NPV).

How is it interpreted?

A

The present value of total benefits
(income or revenue) minus costs over a
series of time periods

Generally, if the NPV of a project
is positive, the investment is a good
choice unless an event better investment
opportunity exists

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13
Q

Define internal rate of return (IRR).

How is it interpreted?

A

The rate at which a project’s inflows
and outflows are equal (i.e.; the rate an
investment in the project will return)

The higher the IRR, the better

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14
Q

Define payback period.

How is it interpreted?

A

The length of time required for the
organization to recover its investment
in the project (before the project starts
yielding profit)

The shorter the payback period, the
better

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15
Q

Define cost-benefit analys.

What is the result of this analysis?

How is it interpreted?

A

Comparing the expected costs of a
project to its potential benefits (revenue)

The benefit cost ratio (BCR)

The hight the BCR, the better

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16
Q

Define opportunity cost.

A

The opportunity given up by selecting
one project over another (i.e., the value
of the project not selected)

17
Q

What are sunk cost?

A

Expended costs

Sunk costs should be not considered
when deciding whether to continue a
trouble project

18
Q

Define the law of diminishing returns.

A

After a certain, adding more input
will not result in a proportional increase
in productivity

19
Q

Define working capital

A

Current assets minus current liabilities

The amount of money the company has
available to invest, including investment
in projects

20
Q

What are the 2 type of depreciation?

A

Straight line depreciation: Depreciate the
same amount each time period

Accelerated depreciation: Depreciate an
amount greater than straight line each
time period

21
Q

What is the project statement of work?

A

Describes need, product scope, and how
the project fits into the organization’s or
the customer’s strategic plan

Created by the customer/sponsor before
the project starts

Later refined in the project scope
statement

22
Q

What is the project charter?

A

A document issued by the sponsor
during project initiating that:

  • Formally recognizeds (authorized)
    the existence of the project
  • Gives the project manager authority
    to spend the money and commit
    resources to the project
  • Provides the objectives, high-level
    requirements, and sucess criteria
    for the project
  • Identifies the constraints and high
  • level risks for the project
  • Uncover assumptions about the
    project
  • Links the project to the ongoing
    work of the organization
23
Q

What is a business case?

A

The project purpose and justification

Explains why the project was selected,
how it fits into the organization’s
strategic goals, and how it will bring
business value to the organization

24
Q

What is included in a project

management plan?

A

Project management processes for the
project

Management plans for knowledge areas

Scope, schedule, and cost baselines

Requirements management plan

Change management plan

Configuration management plan

Process improvement plan

25
Q

What are project documents?

A

Any documents used to manage a
project that aren’t part of the project
management plan, including:

  • project charter
  • project statement of work
  • Procurement statement of work
  • Agreement and contracts
  • Stakeholder register
  • Requirements documentation
  • Activity list
  • Quality metrics
  • Risk register
  • Issue log
  • Change log
  • Any other such documentation
26
Q

What are baselines?

A

The parts of the project management
plan against which actual project
performance is measured

27
Q

What 3 elements make up the

performance measurement baseline?

A

schedule baseline (model)

Scope baseline ( Project Scope statement, WBS,
                              WBS dictionary)

Cost baseline

28
Q

What is a configuration management

plan?

A

A plan to make sure everyone knows
what version of the scope, schedule,
and other component of the project
management plan are the latest versions

It define how you will manage changes
to the deliverables and processes and the
resulting documentation

29
Q

What is a change management plan?

A

A system of formal procedures, set
up in advance, defining how project
deliverables and documentation are
controlled, changed, and approved

30
Q

What is a change control board?

Who might be on a change control board?

A

The group responsible for reviewing and
approving or rejecting change requests

May include project management, customer,
experts, sponsor, functional manager,
and others

For the exam, assume that all projects
have change control boards.

31
Q

What are change requests?

When are they approved?

A

Formal requests to change parts of the
project after the project management
plan is approved

Perform Integrated Change Control

32
Q

What are corrective actions?

A

Actions taken to bring expected future
project performance in line with the
project management plan

33
Q

What are preventive actions?

A

Actions taken to deal with anticipated
or possible deviations from the
performance measurement baseline and
other metrics

34
Q

What is defect repair?

A

Rework required when a component of

the project does not meet specifications

35
Q

What is a kickoff meeting?

When does it occurs?

A

A meeting of all parties to the project
(all project stakeholders, including
sellers) to make sure everyone is “on the
same page”

At the end of the planning process group

36
Q

What is a work authorization system?

A

The project manager’s system for
authorizing the start of work package or
activities

it ensures work is done at the right time
and in proper sequence

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