Integration Management (4)

Question 1

Project Charter content

Answer 1

• project title and description
• PM assigned and authority level
• business case
• measurable project objectives
• stakeholders
• stakeholder requirements as known
• product description/deliverables
• project approval requirements
• resources preassigned
• high-level project risks

Question 2

Project selection benefit measurement methods

Answer 2

• murder board
• peer review
• scoring models
• economic models

Question 3

Project selection constrained optimization methods

Answer 3

• linear programming
• integer programming
• dynamic programming
• multi-objective programming

Question 4

Economic models for Project Selection

Answer 4

• Present Value = FV / (1 + r)^n)
• Net Present Value (PV of income - PV of cost over many time periods)
• Internal Rate of Return
• Payback Period
• Cost Benefit Analysis (benefit or revenue/cost)

Question 5

Economic Value Added

Answer 5

whether project returns to the company more value than the initiative costs

Question 6

Opportunity Cost

Answer 6

value of project not selected

Question 7

Sunk Costs

Answer 7

The money spent is gone and shouldn’t be considered when deciding to continue the troubled project

Question 8

Law of Diminishing Returns

Answer 8

at certain point, adding more input will not produce a proportional increase in productivity

Question 9

Working Capital

Answer 9

current assets minus current liabilities (= money available to invest)

Question 10

Depreciation forms

Answer 10

• straight line depreciation

- accelerated depreciation

Question 11

Project Statement of Work

Answer 11

created by customer or sponsor and describes their needs, product scope and how project fits into strategic plan

Question 12

Enterprise Environmental Factors

Answer 12

“company baggage”, existing systems, input to many processes, e.g.
- Project Management Information System (PMIS) - automated tools for pm, storage, distribution (e.g. change control system, config managament system)

Question 13

Organizational Process Assets

Answer 13

existing processes, procedures and historical information

Question 14

Management Plans

Answer 14

• Scope MP
• Schedule MP
• Cost MP
• Quality MP
• Human Resources MP
• Communications MP
• Risk MP
• Procurement MP
• Change MP
• Configuration MP
• Requirements MP
• Process Improvement MP

Question 15

Project Management Plan

Answer 15

• project management processes
• Management Plans
• Performance Measurement Baselines (scope, schedule and cost baselines)

Question 16

Project Documents

Answer 16

project-related documents that are not part of Project Management Plan (e.g. charter, SOW, contracts, activity list, issue log…)

Question 17

Work Authorization System

Answer 17

for authorizing the start of work packages or activities, part of PMIS

Question 18

Corrective Action

Answer 18

any action taken to bring expected future project performance in line with the Project Management Plan; can only be recommended in E/M&C processes

Question 19

Change Control Board

Answer 19

is responsible for reviewing and analyzing change requests

Question 20

High-level process for making changes

Answer 20

1. Evaluate the impact
2. Create options
3. Get the change request approved internally (sponsor or CCB)
4. Get customer buy-in

Question 21

Detailed process for making changes

Answer 21

1. Prevent the root cause of changes
2. Identify change (where from?)
3. Look at the impact of change
4. Create a change request
5. Perform integrated change control
6. Adjust the Project Management Plan, Project Documents
7. Manage stakeholders’ expectations by communicating the change to stakeholders affected by the change
8. Manage the project to the revised Project Management Plan and Project Documents

Question 22

Detailed process of Perform Integrated Change Control

Answer 22

1. Asses the change (is it in project scope?)
2. Look for options
3. The change is approved or rejected
4. Update the status of the change in the change control system

Question 23

scope baseline

Answer 23

• project scope statement
• work breakdown structure (WBS)
• WBS dictionary

Question 24

constraints

Answer 24

scope, time, cost, quality, resources, risk, customer satisfaction