Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Udemy PMP > Project Integration Management > Flashcards

Project Integration Management Flashcards

1
Q

Assumption Log

A

An assumption is believed to be true or false, but has not been proven either way. Assumptions that provide wrong can become risks. All identified project assumptions are recorded in the assumption log for testing and analysis, and the outcomes are recorded.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Benefits/Cost Ratio (BCR) Models

A

Example of a benefits comparison model. Examines benefits-to-cost ratio.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Change Control Board (CCB)

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Change Control System (CCS)

A

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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Change Log

A

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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Change Management Log

A

This plan details the project procedures for entertaining change requests: how change requests are managed, documented, approved, or declined.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Closure Processes

A

The final process group of the project management life cycle is responsible for closing the project phase or project. This is where project documentation is archived and project contracts are also closed.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Communications Management Plan

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Configuration Identification

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Configuration Management Plan

A

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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Configuration Management System

A

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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Configuration Status Accounting

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Configuration Verification and Auditing

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Contract Closure

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Cost Baseline

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Cost Management Plan

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Explicit Knowledge

A

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

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Future Value

A

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 given interest rate, and n is number of periods.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Integrated Change Control

A

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

Ex - adding testing to project tasks to improve quality and acceptability

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Issue Log

A

Issues are points of contention where some questions 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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Mathematical Model

A

A project selection method to determine the likelihood of success. These models include linear programming, nonlinear programming, dynamic programming, integer programming, and multiobjective programming.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Milestone

A

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.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Milestone List

A

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.

23
Q

Murder Boards

A

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.

24
Q

Net Present Value

A

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

25
Q

Payback Period

A

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

26
Q

Present Value

A

A benefit comparison model to determine the present value of a future amount of money. The formulate to calculate present value is PF=FV/(1+I)^n, where FV is future value, I is the given interest rate, and n is number of periods.

27
Q

Procurement Management Plan

A

Controls how the project will acquire goods and services.

28
Q

Project Charter

A

Authorizes the project. Defines the initial requirements of the project stakeholders. The project charter is endorsed by an entity outside of the project boundaries.

May be prepared by PM but published by sponsor.

29
Q

PMP

A

Documented approach of how a project will be planned, executed, monitored and controlled, and then closed. Collection of subsidiary management plans and related documents.

30
Q

Project Scope Management Plan

A

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

31
Q

Quality Baseline

A

Documents the quality objectives for the project, including the metrics for stakeholder acceptance of the project deliverable.

32
Q

Quality Management Plan

A

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.

33
Q

Regression Analysis

A

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

34
Q

Risk Management Plan

A

Risk is an uncertain event or condition that may affect the project outcome. RMP defines how the project will manage risk.

35
Q

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.

36
Q

Risk Response Plan

A

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

37
Q

Schedule Baseline

A

Planned start and finish of the project. Comparison of what was planned and what was experienced is the schedule variance.

38
Q

Schedule Management Plan

A

Defines how the project schedule will be created and managed.

39
Q

Scope Baseline

A

Combination of three project documents: the project scope statement, the WBS, and the WBS dictionary. Creation of the project deliverable will be measured against the scope BL to show any variances from what was expected and what the project team has created.

40
Q

Scoring Models

A

Use a common set of values for all of the projects up for selection. For example, values can be profitability, complexity, customer demand, etc.

41
Q

Tacit Knowledge

A

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

42
Q

Corrective Action

A

Realigns project performance - requires change request

43
Q

Preventive Action

A

Ensures future performance - requires change request

44
Q

Defect Repair

A

Modifies nonconformance to project requirements - requires change request

45
Q

Internal Rate of Return (IRR)

A

IRR high = good, IRR low = poor, Greater than 0 is a decent project selection

46
Q

Lessons Learned Document

A

All contribute- PM and team

47
Q

Project Sponsor

A

During project, help PM and stakeholders resolve issues

48
Q

Majority of project budget

A

Project plan execution

49
Q

Earned Value Management (EVM)

A

Used during entire project. Planning and control tool to measure performance.

50
Q

Project Selection Methods

A

Benefit Measurement (optimization) - murder board, peer review, scoring, economic models
Constrained Optimization (mathematical) - linear programming, integer
Economic models - net present value, IRR, benefit cost ratio

51
Q

Economic Value Added (EVA)

A

Amount of added value project produces for companies SH above cost of project.

52
Q

Opportunity Cost

A

Opportunity given up by selecting one project over another. A = 10k, B = 20k, I’d choose B then opportunity cost is 10k.

53
Q

Working Capital

A

= Current assets - current liabilities

Amount of money available to invest for a company.

54
Q

Technical Assessment Board

A

Part of change control system.

Udemy PMP (15 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions