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CAPM > PM Integration > Flashcards

PM Integration Flashcards

1
Q

An assumption is something that is believed to be true or false, but it has not yet been proven.

Assumptions that prove wrong can become risks for the project.

All identified project assumptions are recored in the assumption log for testing and analysis, and the outcomes are recorded.

A

Assumption Log

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2
Q

This is an example of a benefits comparison model.

It examines the benefit-to-cost ratio.

A

Benefit/Cost Ratio (BCR) Models

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3
Q

A committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change.

A

Change Control Board

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4
Q

The change control system communicates the process for controlling changes to the project deliverables.

This system works with the configuration management system and seeks to control and document proposals to change the project’s product.

A

Change Control System

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5
Q

All changes that enter into a project are recorded in a change log.

The characteristics of the change, such as the time, cost, risk and scope details, are also recorded.

A

Change Log

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6
Q

This plan documents the project procedures for entertaining change requests: How change requests are managed, documented, approved, and denied.

A

Change Management Plan

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7
Q

This final process group of the project management lifecycle is responsible for closing the project phase or project.

This is where project documentation is archived and project contracts are also closed.

A

Closure Process

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8
Q

This plan defines who will get what information, how they will receive it, and in what modality the communication will take place.

A

Communications Management Plan

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9
Q

This includes the labeling of components, how changes are made to the project, and the accountability of the changes.

A

Configuration Identification

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10
Q

This plan is an input to the control scope process.

It defines how changes to the features and functions of the project deliverable, the product scope, may enter the project.

A

Configuration Management Plan

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11
Q

This system defines how stakeholders are allowed to submit change requests, the conditions for approving a change request, and how approved change requests are validated in the project scope.

Configuration management also documents the characteristics and functions of the project’s products and any changes to a product’s characteristics.

A

Configuration Management System

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12
Q

The organization of the product materials, details, and prior product documentation.

A

Configuration Status Accounting

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13
Q

The scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan.

A

Configuration Verification and Auditing

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14
Q

The formal verification of the contract completeness by the vendor and the performing organization.

A

Contract Closure

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15
Q

This is the aggregated costs of all the work packages within the work breakdown structure (WBS).

A

Cost Baseline

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16
Q

This plan details how the project costs will be planned for, estimated, budgeted, and then monitored and controlled.

A

Cost Management Plan

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17
Q

Knowledge that can be quickly and easily expressed through conversations, documentation, figures, or number, is easily communicated.

A

Explicit Knowledge

18
Q

A benefit comparison model to determine a future value of money.

The formula to calculate future value is:
FV = PV (1 + I) n

Where PV is present value, I is the given interest rate, and n is the number of periods.

A

Future Value

19
Q

A process to consider and control the impact of a proposed change on the project’s knowledge areas.

A

Integrated Change Control

20
Q

Issues are points of contention where some question of the project’s direction needs to be resolved.

All identified issues are documented in the issue log, along with an issue owner and a deadline to resolve the issue.

The outcome of the issue is also recorded.

A

Issue Log

21
Q

A project selection method to determine the likelihood of success.

These models include linear programing, non-linear programming, dynamic programming, integer programming, and multi-object programing.

A

Mathematical Model

22
Q

Milestones are significant points or events in the project’s progress that represent accomplishment in the project.

Projects usually create milestones as the result of completing phases within the project.

A

Milestone

23
Q

This list details the project milestones and their attributes.

It is used for several areas of project planning, but helps determine how quickly the project may be achieving its objectives.

A

Milestone List

24
Q

These are committees that ask every conceivable negative question about the proposed project.

Their goals are to expose the project’s strengths and weaknesses, and to kill the project if it’s deemed unworthy for the organization to commit to.

Also known as project steering committees or project selection committees.

A

Murder Boards

25
Q

Evaluates the monies returned on a project for each period the project lasts.

A

Net Present Value

26
Q

An estimate to predict how long it will take a project to pay back an organization for the project’s investment of capital.

A

Payback Period

27
Q

A benefit comparison model to determine the present value of a future amount of money.

The formula to calculate present value is:
PV = FV + ( 1 +I ) n

Where FV is future value, I is the given interest rate, and n is the number of periods.

A

Present Value

28
Q

The procurement management plan controls how the project will acquire goods and services.

A

Procurement Management Plan

29
Q

This document authorizes the project.

It defines the initial requirements of the project stakeholders.

The project charter is endorsed by an entity outside of the project boundaries.

A

Project Charter

30
Q

The documented approach of how a project will be planned, executed, monitored and controlled, and then closed.

This document is a collection of subsidiary management plans and related documents.

A

Project Management Plan

31
Q

Defines how the project scope will be planned, managed, and controlled.

A

Project Scope Management Plan

32
Q

Document the quality objective for the project, including the metrics for stakeholder acceptance of the project deliverable.

A

Quality Baseline

33
Q

This plan defines what quality means for the project, how the project will achieve quality, and how the project will map to organizational procedures pertaining to quality.

A

Quality Management Plan

34
Q

A mathematical model to examine the relationship among project variables, like cost, time, labor, and other project metrics.

A

Regression Analysis

35
Q

Risk is an uncertain event or condition that may affect the project outcome.

The risk management plan defines how the project will manage risk.

A

Risk Management Plan

36
Q

The risk register is a centralized database consisting of the outcome of all the other risk management processes, such as the outcome of risk identification, qualitative analysis, and quantitative analysis.

A

Risk Register

37
Q

This subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks.

A

Risk Response Plan

38
Q

This is the planned start and finish of the project.

The comparison of what was planned and what was experienced is the schedule variance.

A

Schedule Baseline

39
Q

Defines how the project schedule will be created and managed.

A

Schedule Management Plan

40
Q

The scope baseline is the combination of three project documents: The project scope statement, the work breakdown structure, and the WBS dictionary.

The creation of the project deliverable will be measured against the scope baseline to show any variances from what was expected and what the project team has created.

A

Scope Baseline

41
Q

These models use a common set of values for all of the projects up for selection.

For example, values can be profitability, complexity, customer demand, and so on.

A

Scoring Models

42
Q

Knowledge that’s more difficult to express because it’s personal beliefs, values, knowledge gain from experience, and ‘know-how’ when doing a task.

A

Tacit Knowledge

CAPM (14 decks)

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