Project Integration Management Terms

Question 1

Assumption Log

Answer 1

An assumption is something that is believed to be true or false, but is 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 recoreded in the assumption log for testing and analysis, and the outcomes are recorded.

Question 2

Benefit/Cost Ratio (BCR) Models

Answer 2

This is an example of a benefits comparison model. It examines the benefit-to-cost ratio.

Question 3

Change Control Board (CCB)

Answer 3

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

Question 4

Change Control Systems (CCS)

Answer 4

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.

Question 5

Change Log

Answer 5

Al 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.

Question 6

Change Management Plan

Answer 6

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

Question 7

Closure Processes

Answer 7

This 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.

Question 8

Communications Management Plan

Answer 8

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

Question 9

Configuration Identification

Answer 9

This inclludes the labeling of the compenents, how changes are made to the product, and the accountability of the changes.

Question 10

Configuration Management Plan

Answer 10

This system defines how stakeholders are allowed to submit change request, 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 producs and any changes to a product’s characteristics.

Question 11

Configuration Status Accounting

Answer 11

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

Question 12

Configuration Verification and Auditing

Answer 12

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

Question 13

Contract Closure

Answer 13

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

Question 14

Cost Baseline

Answer 14

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

Question 15

Cost Management Plan

Answer 15

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

Question 16

Explicit Knowledge

Answer 16

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

Question 17

Future Value

Answer 17

A benefit comparison model to determine a future value of money. The formula to calculate furture value is FV=PV(1+I)n, where PV=Present Value, I is the given interest rate, and n is the number of periods.

Question 18

Integrated Change control

Answer 18

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

Question 19

Issue Log

Answer 19

Issues are points of contention where some question of the project’s direction needs to be resolved. All identified issues are docmented in the issue log, along with an issue owner and a deadline to resolve the issue. The outcome of the issue is also recorded.

Question 20

Mathematic Model

Answer 20

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

Question 21

Milestone

Answer 21

Milestones are significant points for 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.

Question 22

Milestone List

Answer 22

This list details the project milestones and their attributes. It is used for several ares of project planning, but also helps determine how quickly the project may be acheiving its objectives.

Question 23

Murder Boards

Answer 23

These are committees that ask every conceivable negative question about the proposed project. Their goals are to expose the project 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.

Question 24

Net Present Value

Answer 24

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

Question 25

Payback Period

Answer 25

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

Question 26

Present Value

Answer 26

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.

Question 27

Procurement Management Plan

Answer 27

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

Question 28

Project Charter

Answer 28

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.

Question 29

Project Management Plan

Answer 29

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.

Question 30

Project Scope Management Plan

Answer 30

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

Question 31

Quality Baseline

Answer 31

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

Question 32

Quality Management Plan

Answer 32

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

Question 33

Regression Analysis

Answer 33

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

Question 34

Risk management plan

Answer 34

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

Question 35

Risk register

Answer 35

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.

Question 36

Risk response plan

Answer 36

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

Question 37

Schedule baseline

Answer 37

Defines how the project schedule will be created and managed.

Question 38

Scope baseline

Answer 38

The scope baseline is a 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.

Question 39

Scoring models

Answer 39

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.

Question 40

tacit knowledge

Answer 40

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