Integration Management (4) Flashcards
Project Charter content
- 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
Project selection benefit measurement methods
- murder board
- peer review
- scoring models
- economic models
Project selection constrained optimization methods
- linear programming
- integer programming
- dynamic programming
- multi-objective programming
Economic models for Project Selection
- 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)
Economic Value Added
whether project returns to the company more value than the initiative costs
Opportunity Cost
value of project not selected
Sunk Costs
The money spent is gone and shouldn’t be considered when deciding to continue the troubled project
Law of Diminishing Returns
at certain point, adding more input will not produce a proportional increase in productivity
Working Capital
current assets minus current liabilities (= money available to invest)
Depreciation forms
- straight line depreciation
- accelerated depreciation
Project Statement of Work
created by customer or sponsor and describes their needs, product scope and how project fits into strategic plan
Enterprise Environmental Factors
“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)
Organizational Process Assets
existing processes, procedures and historical information
Management Plans
- 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
Project Management Plan
- project management processes
- Management Plans
- Performance Measurement Baselines (scope, schedule and cost baselines)
Project Documents
project-related documents that are not part of Project Management Plan (e.g. charter, SOW, contracts, activity list, issue log…)
Work Authorization System
for authorizing the start of work packages or activities, part of PMIS
Corrective Action
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
Change Control Board
is responsible for reviewing and analyzing change requests
High-level process for making changes
- Evaluate the impact
- Create options
- Get the change request approved internally (sponsor or CCB)
- Get customer buy-in
Detailed process for making changes
- Prevent the root cause of changes
- Identify change (where from?)
- Look at the impact of change
- Create a change request
- Perform integrated change control
- Adjust the Project Management Plan, Project Documents
- Manage stakeholders’ expectations by communicating the change to stakeholders affected by the change
- Manage the project to the revised Project Management Plan and Project Documents
Detailed process of Perform Integrated Change Control
- Asses the change (is it in project scope?)
- Look for options
- The change is approved or rejected
- Update the status of the change in the change control system
scope baseline
- project scope statement
- work breakdown structure (WBS)
- WBS dictionary
constraints
scope, time, cost, quality, resources, risk, customer satisfaction
