Project Integration Management Flashcards
Assumption log
an assumption is something that is believed to be true or false, but it has not yet been proven to be true or false. Assumptions that prove wrong can become risks for the project. All identified project assumptions are recorded in the assumption log for testing and analysis, and the outcomes are recorded.
benefit/cost ratio (BCR) models
this is an example of a benefits comparison model. it examines the benefit to cost ratio
change control board (CCB)
a committee that evaluates the worthiness of a proposed change and either approves or rejects the proposed change
change control system (CCS)
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.
change log
all changes that enter into a project are recorded in the change log. the characteristics of the change, such as the time, cost, risk and scope details, are also recorded
change management plan
this plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved or declined
closure processes
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
communications management plan
defines who will get what information, how they will receive it and in what modality the communication will take place
configuration identification
includes the labeling of the components, how changes are made to the product, and the accountability of the changes
configuration management plan
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
configuration status accounting
the organization of the product materials, details, and prior product documentation
configuration verification and auditing
the scope verification and completeness auditing of project or phase deliverables to ensure that they are in alignment with the project plan
contract closure
the formal verification of the contract completeness by the vendor and the performing organization
cost baseline
this is the aggregated costs of all of the work packages within the work breakdown structure (WBS)
cost management plan
this plan details how the project costs will be planned for, estimated, budgeted and then monitored and controlled
explicit knowledge
knowledge that can be quickly and easily expressed through conversations, documentation, figures or numbers is easily communicated
future value
a benefit comparison model to determine a future value of money.
the formula to calculate future value:
FV = PV (1 +I)n
PV is present value,
I is the given interest rate,
n is the number of periods
integrated change control
a process to consider and control the impact of a proposed change on the project’s knowledge areas
issue log
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 issues is also recorded.
mathematical model
a project selection method to determine the likelihood of success. these models include linear programming, nonlinear programming, dynamic programming, integer programming and multiobjective programming
milestone
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.
milestone list
this list details the project milestones and their attributes. it is used for several areas of project planning, but also helps determine how quickly the project may be achieving its objectives
murder boards
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.
net present value
evaluates the monies returned on a project for each period the project lasts
payback period
an estimate to predict how long it will take a project to pay back an organization for the project’s investment of catpial
present value
a benefit comparison model to determine the present value of a future amount of money
formula to calculate present value:
PV = FV + (1+I)n
FV is future value,
I is the given interest rate,
n is the number of periods
procurement management plan
controls how the project will acquire goods and services
project charter
this document authorizes the project
it defines the initial requirements of the project stakeholders
it is endorsed by an entity outside of the project boundaries
project management plan
the documented approach of how a project will be planned executed, monitored and controlled and then close. this document is a collection of subsidiary management plans and related documents
project scope management
defines how the project scope will be planned, managed and controlled
quality baseline
documents the quality objectives for the project, including the metrics for stakeholder acceptance of the project deliverable
quality management 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
regression analysis
a mathematical model to examine the relationship among project variables, like cost, time, labor, and other project metrics
risk management plan
defines how the project will manage risk (an uncertain even or condition that may affect the project outcome)
risk register
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
risk response plan
(subsidiary) plan defines the risk responses that are to be used in the project for both positive and negative risks
schedule baseline
planned start and finish of the project
the comparison of what was planned and what was experienced is the schedule variance
schedule management plan
defines how the project schedule will be created and managed
scope baseline
a combination of 3 project documents: the project scope statement, the work breakdown structure and WBS dictionary
the creation of the project deliverable will be measured against the scope baseline to show an variances from what was expected and the project team has created
scoring models
these models use a common set of values for all of the projects up for selection (examples: profitability, complexity, customer demand, etc.)
