Integration management- Knowledge area

Question 1

Integration (Int) -Knowledge area definition

Answer 1

• Provides leadership for the overall project and integrates all other processes.
• This is where the project manager lives.

Question 2

Int- Weighted scoring models

Answer 2

some method to prioritize projects based on total weighted score when finance is not the driver.

Question 3

Int- Change control board( CCB)

Answer 3

If you have a project sponsor, you dont need this. If a project is big or impacts departments in organization, you will need a board.

Question 4

Int- 5 techniques for resolving conflict.( It depends on the situation)

Answer 4

1-Withdraw/avoid

2. Smooth/accomodate- bandaid. temp fix.
3. Compromise/Reconcile-lose/lose
4. Force/direct-win/lose
5. Problem solve/collaborate- win/win

Question 5

Int- Opportunity cost

Answer 5

What are you giving up for the project?

Question 6

Int- NPV- Net present value

Answer 6

sum of the present values of the future cash inflows MINUS project investment. note- The present values are calculated by using Cost of funds(COF)

Question 7

Int- IRR- Internal rate of return -expecting% wise.

Answer 7

Expected return on project investment.
ex- project investment- $1 million
IRR calculated- 15%
if COF = OR greater than 10%, its a good deal
if COF = OR greater than 18%, its a bad deal

Question 8

Int- Sunk costs

Answer 8

If you have already spent it, its SUNK money

Question 9

Int- project influencers EEF( Enterprise environmental factors)

Answer 9

Things which get in your way( govt regulations, hipaa implications, infrastructure etc)

Question 10

Int- Project influencers OPA( Organization process assets)

Answer 10

Things that help you (templates/ historical information/ lessons learnt)

Question 11

Int- Job shadowing

Answer 11

following around someone when they are doing their job.

Question 12

Int- Reverse shadowing

Answer 12

Someone doing their job and an expert would watch them and tell them if they were doing it right or wrong.

Question 13

Int- Payback method

Answer 13

Investment- $100k
Monthly benefit- $10k
payback period: 10 months( divide)
how long does it take to get my 100k back?

Question 14

Int- Constrained optimization method

Answer 14

weighted scoring methods on steroids when finance is not the driver. evaluation done based on sophisticated scoring methods.

Question 15

Int- Explicit knowledge

Answer 15

knowledge which can be easily transferred from one person to another.

Question 16

Int- tacit knowledge

Answer 16

not easy to transfer from one person to another