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PROJECT MANAGEMENT > PPT 2 - CH4 > Flashcards

PPT 2 - CH4 Flashcards

1
Q
  • Includes the processes and activities to Identify, Define, Combine, Unify, Coordinate the various Processes and Activities of the Project within the Process Group.
A

Project Integration Management

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2
Q
  • Integration Management is specific to
A

Project Managers .

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3
Q
  • It is a document that formally authorizes the existence of a project
A

Project Charter
* A project charter is not a contract!

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4
Q
  • A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.
A

Business Case

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5
Q
  • It is used to establish the internal agreements within an organization
A

Project Charter
* A project charter is not a contract!

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6
Q
  • It provides the project manager the authority to apply organizational resources to project activities
A

Project Charter
* A project charter is not a contract!

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7
Q

Agreements

A
  • Contracts
  • Memorandum of Understanding
  • Service Level Agreements
  • Letters of Agreement
  • Letters of Intent
  • Verbal Agreements
  • Email
  • Or other written agreements
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8
Q

Tools and Techniques in Project Charter Development
* Expert Judgment

A

o Organizational Strategy
o Benefits management
o Technical knowledge of the industry and focus area of the project
o Duration and budget estimation
o Risk identification

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9
Q

Tools and Techniques in Project Charter Development
* Data Gathering

A

o Brainstorming
o Focus groups
o Interviews

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10
Q

Tools and Techniques in Project Charter Development
* Interpersonal and Team Skills

A

o Conflict management
o Facilitation
o Meeting management

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11
Q

Tools and Techniques in Project Charter Development

A
  • Expert Judgment
  • Data Gathering
  • Interpersonal and Team Skills
  • Meetings
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12
Q
  • It is a high level information on the project.
A

Project Charter

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13
Q
  • It contains the following information:
    o Project purpose
    o Measurable project objectives and related success criteria
    o High level requirements
    o High level project description, boundaries, and key deliverables
    o Overall project risk
    o Summary milestone schedule
    o Preapproved financial resources
    o Key stakeholder list
    o Approval requirements
    o Exit Criteria
    o Assigned project manager, responsibility, and authority level
    o Name and authority of the sponsor or other person(s) authorizing the project charter.
A

Project Charter

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14
Q

Includes:
* Measurable project objectives and related success criteria High level project description, boundaries, and key deliverables
* Summary milestone schedule
* Preapproved financial resources
* Key stakeholder list
* Approval requirements
* Exit Criteria Boundaries, and key deliverables

A

Scope Statement

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15
Q

provides maximum flexibility; minimizes contractor profits;

A

cost-plus-free contract

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16
Q

minimizes negotiations and preliminary specification costs; permits quicker start, earlier completion

A

cost-plus-free contract

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17
Q

permits choice of best-qualified, not lowest-bidding, contractor; permits use of same contractor from construction to completion, usually increasing quality and efficiency

A

cost-plus-free contract

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18
Q

no assurance of final cost; no financial incentive to minimize time and cost

A

cost-plus-free contract

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19
Q

permits specification of high-cost features by owner’s staff; permits excessive design changes by owner’s staff increasing time and costs

A

cost-plus-free contract

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20
Q

provides firm assurance of ultimate cost at earliest possible date; insures prompt advice to owner of delays and extra costs resulting from changes

A

guaranteed maximum share savings or fixed lump sum

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21
Q

provides incentive for quickest completion; owner and contractor share financial risk and have mutual incentive for possible savings; ideal contract to establish owner-contractor cooperation throughout execution of project

A

guaranteed maximum share savings

22
Q

requires complete auditing by owner’s staff; requires completion of definitive engineering before negotiation of contract

A

guaranteed maximum share savings

23
Q

requires minimum owner follow-up on work; provides maximum incentive for quickest completion at lowest cost; involves minimal auditing by owner’s staff

A

fixed price/lump sum

24
Q

requires exact knowledge if what is wanted before contract award; requires substantial time and cost to develop inquiry specs, solicit, and evaluate bids. delays completion 3-4 months

A

fixed price/lump sum

25
Q

high bidding costs and risks may reduce qualified bidders; cost may be increased by excessive contingencies in bids to cover high-risk work

A

fixed price/lump sum

26
Q

essential same as cost-plus-fee contract; fixes slightly higher percentage of total cost; eliminates checking and verifying contractor’s services

A

fixed price for services, materials, and labor

27
Q

may encourage reduction of economic studies and detailing of drawings, produce higher costs for operation, construction, and maintenance; other same disadvantages as cost-plus-fee contract

A

fixed price for services, materials, and labor

28
Q

maximum price assured for high percentage of plant costs; avoids excessive contingencies in bids for unpredictable and highly variable costs; permits selection of local suppliers and subcontractors by owner

A

fixed price for imported goods and services, local costs reimbursable

29
Q

same extended time required for inquiry specs, quotations, and evaluation as fixed lump-sum for complete project; requires careful definition of items supplied locally to insure comparable bids; no financial incentive to minimize field and local costs

A

fixed price for imported goods and services, local costs reimbursable

30
Q
  • This is the process of defining, preparing, and coordinating all plan components and consolidating them into an integrated project management plan.
A

4.2 Develop the Project Management Plan

31
Q
  • The plan defines how the project is executed, monitored and controlled, and closed
A

4.2 Develop the Project Management Plan

32
Q
  • It is a comprehensive document that defines the basis of all project work and how the work will be performed.
A

4.2 Develop the Project Management Plan

33
Q

should be at least the scope, time, and cost (for reference and performance evaluation).

A

baselines

34
Q

What is the purpose of a baseline:

A
  • Project execution can be compared and measured
  • Performance can be managed
35
Q
  • This is the process of leading and performing the work defined in the project management plan
  • This is also the process of implementing approved changes
  • Benefit: increase the probability of success
A

4.3 Direct and Manage Project Work

36
Q

Software tools such as scheduling software tools, work authorization systems, etc. This is also the work performance reports.

A

Project Management Information System

37
Q

is any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.

A
  • Deliverables
37
Q

raw observations and measurements identified during activities being performed. It is often viewed as the lowest level of detail from which information is derived.

A
  • Work Performance Data (WPD)
38
Q

Changes in the plan are for (section 4.3.3.4, PMBOK):

A

corrective action
preventive action
defect repair
updates

39
Q

realigns the performance of the work to the project management plan

A
  • Corrective action
39
Q

modify nonconforming product or its component

A
  • Defect repair
39
Q

ensures the future performance of the work to the project management plan

A
  • Preventive action
40
Q

changes to formally controlled project document, plans, etc. to reflect modified or additional contents

A
  • Updates
41
Q

The most important part:

A
  • Creating an atmosphere of trust so that people are motivated to share their knowledge (PMBOK 6e)
  • The instructor’s other thoughts: Teams will be disbanded after the project, the knowledge and lessons learned must be preserved.
42
Q
  • This is the process of tracking, reviewing, and reporting the overall progress to meet the performance objectives defined in the project management plan.
A

4.5 Monitor and Control Project Work

43
Q

collecting, measuring, and assessing measurements and trends

A
  • Monitoring
43
Q

determining corrective and preventive actions

A
  • Controlling
44
Q

is gathered through work execution and passed through a controlling processes.

A

Work Performance Data (WPD)

45
Q

This is the process of
* reviewing all change requests
* Approving changes to deliverables, project documents and management plan
* And communicating the decision

A

4.6 Perform Integrated Change Control

46
Q

This process allows for documented changes within the project. This is the ultimate responsibility of the project manager.

A

4.6 Perform Integrated Change Control

47
Q
  • Finalizing all activities for the project, phase, or contract.
  • Information is archived, planned work completed, and organization team resources are released to pursue new endeavors.
A

4.7 Close Project or Phase

PROJECT MANAGEMENT (7 decks)

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