Integration Management Flashcards
What is the process of integration management?
- Develop Project Charter
- Develop Project Management Plan
- Direct and Manage Project Execution
- Monitor and Control Project Work
- Perform Integrated Change Control
- Close Project or Phase
What are the categories of project selection methods?
Benefit measurement (comparative)
Constrained optimization (mathematical)
What is the Develop Project Management Plan process?
What is its output?
The process of creating a project management plan that is bought into, approved, realistic, and formal
Output: The project management plan
What is included in a project management plan?
- Project management processes for the project
- Management plan for knowledge areas
- Scope, schedule, and cost baselines
- Requirements management plan
- Change management plan
- Configuration management plan
- Process improvement plan
What are project documents?
Any documents used to manage a project that are not part of the project management plan. These include:
- Project charter
- Statement of work
- Contracts
- Stakeholder register
- Requirements documentation
- Activity list
- Quality metrics
- Risk register
- Issue log
- Change log
- Any other such documentation
What are key outputs of the Direct and Manage Project Execution process?
- Deliverables
- Work performance information
- Change requests
- Updates to the project management plan and project documents
- Implemented changes
What are the key outputs of the Monitor and Control project Work process?
- Change requests
- Updates to the project management plan and project documents
What are key outputs of the Perform Integrated Change Control process?
- Change request status updates (approved or rejected changes)
- Updates to the project management plan and project documents
What are key outputs of the Close Project or Phase process?
- Final product
- Formal acceptance
- Organizational process assets updates
Explain the project manager’s role as an integrator
Making sure all pieces of the project are properly coordinated and put together into one cohesive whole
What is a project charter?
How does it help the project?
A document issued by the sponsor during project initating that:
- Formally recognizes the existance of the project
- Gives the PM authority
- Documents the business need, justification, customer reuirements and product or service to satisfy those requirements
What is a business case?
A project purpose and justification
Explains how the project supports the organization’s strategic goals
What is a kickoff meeting?
When does it occur?
A meeting of all parties to the project (project stakeholders, including sellers) to make sure everyone is “on the same page”
It is held at the end of the planning process group
What are baselines?
Parts of the project management plan used to measure performance against
- Schedule baseline
- Scope baseline
- Cost baseline
Baselines can change with approved changes.
What is the project statement of work?
Describes need, product scope, and how the project fits into the strategic plan
Created by the cusomter/sponsor prior to the beginning of the project
Later refined in the project scope statement
What is a work authorization system?
The project manager’s sytem for authorizaint the start of work packages or activities
It ensures work is done at the right time and in the proper sequence
What is a configuration management plan?
A plan to make sure everyone knows what version of the scope, schedule, and other components of the project management plan are the latest versions
It defines how you will manage changes to the deliverables and the resulting documentation
What is a change manatement plan?
A system of formal procedures, set up in advance, defining how project deliverables and documentation are controlled, changed, and approved
What are enterprise environmental factors?
When are they used?
Company culture and existing systems the project will have to deal with or can make use of
They are used throughout the project management process
What are organizational process assets?
When are they used?
Company processes and procedures
Historical information
Lessons learned
They are used throughout the project management process
What is historical information?
Records of past projects, including lessons learned, used to plan and manage future projects
Records of the current project that will become part of organizational process assets
What is project management information system?
The manual and auotmated sytem to submit and track changes and monitor and control project activities
What is a change control board?
Who may be on it?
A group of people that approves or rejects changes
May include:
- Project manager
- Customer
- Experts
- Sponsor
- Others
For the exam, assume that all projects have CCBs
What are change requests?
When are the approved?
Formal requests to chagne parts of the project after the project management plan is approved
They are approved in the Perform Integrated Change Control process
What are preventative actions?
Actions taken to deal with anticipated or possible deviations from the performance measurement baseline
What are corrective actions?
Actions taken to bring expected furture project performance in line with the project management plan
Define present value
The value today of future cash flows
Define net present value
The value in today’s dollars of some future costs and expenses
For cost, the lower the number the better
For revenue, the higher the number the better
Define internal rate of return
The rate an investment in the project will return
The higher the number the better
The rate at which a project’s inflows and outflows are equal
Define payback period
The number of time periods to recover the investment
The lower the number the better
Define cost benefit analysis
Compares expected costs to the potential benefits
Results in a benefit cost ration (BCR)
The higher the BCR number the better
Define opportunity cost
The opporutnity given up by selecting one project over another
What are sunk costs
Expended costs
Define the law of diminishing returns
The more you put into the effort , the less you get out of it
Define working capital
Current assets minus current liabilities
The amount of funds available to spend on projects
What are the 2 types of depreciation?
Straight Line Depreciation: Depreciate the same amount each time period
Accelerated Depreciation: Depreciate an amount greater than straight line each time period
