Project Integration Management Terms

Question 1

Assumption Log

Answer 1

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 assumptions are recorded int he assumption log for testing and analysis and the outcomes are recorded

Question 2

Benefit/Cost Ratio (BCR) Models

Answer 2

This is 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 a proposed change and either approves or rejects the proposed change

Question 4

Change Control System (CCS)

Answer 4

Communicates teh process for controlling changes to the project deliverables. This system works with the configuration management system and seeks to control the document proposals to change the project’s product

Question 5

Change Log

Answer 5

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

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

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

Question 8

Communications Management Plan

Answer 8

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

Includes the labeling of the components, how changes are made to the product and the accountability of the changes

Question 10

Configuration Management Plan

Answer 10

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

Question 11

Configuration Management System

Answer 11

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.

Also documents the characteristics and functions of the project’s products and any changes to a product’s characteristics

Question 12

Configuration Status Accounting

Answer 12

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

Question 13

Configuration Verification and Auditing

Answer 13

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

Question 14

Contract Closure

Answer 14

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

Question 15

Cost Baseline

Answer 15

The aggregated costs of all of the work packages within the work breakdown structure (WBS)

Question 16

Cost Management Plan

Answer 16

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

Question 17

Explicit Knowledge

Answer 17

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

Question 18

Future Value

Answer 18

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

FV= PV (1+I)^n
PV - Present Value; I - Interest Rate; N - Number of Periods

Question 19

Integrated Change Control

Answer 19

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

Question 20

Issue Log

Answer 20

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

Question 21

Mathematical Model

Answer 21

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 22

Milestone

Answer 22

A significant point or event 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 23

Milestone List

Answer 23

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

Question 24

Murder Boards

Answer 24

A committee that asks 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 or Project Selection Committees

Question 25

Net Present Value

Answer 25

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

Question 26

Payback Period

Answer 26

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

Question 27

Present Value

Answer 27

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

PV=FV / (1+i)^N)
FV - Future Value; I - Given Interest Rate; N - Number of periods

Question 28

Procurement Management Plan

Answer 28

Controls how the project will acquire goods and services

Question 29

Project Charter

Answer 29

Document authorizing 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 30

Project Management Plan

Answer 30

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 31

Project Scope Management Plan

Answer 31

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

Question 32

Quality Baseline

Answer 32

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

Question 33

Quality Management Plan

Answer 33

Defines what quality means for the project, how the project will achieve quality, and how the project will map to the organizational procedures pertaining to quality

Question 34

Regression Analysis

Answer 34

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

Question 35

Risk Management Plan

Answer 35

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

Question 36

Risk Register

Answer 36

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 37

Risk Response Plan

Answer 37

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

Question 38

Schedule Baseline

Answer 38

This is the planned start and finish of the project. The comparison of what was planned and what was experienced is the Schedule Variance

Question 39

Schedule Management Plan

Answer 39

Defines how the project schedule will be created and managed

Question 40

Scope Baseline

Answer 40

A combination of three project documents:

1. The project Scope Statement
2. The Work Breakdown Structure (WBS)
3. 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 41

Scoring Models

Answer 41

These models use a common set of values for all of the projects up for selection. Values can be profitability, complexity, customer demand, etc.

Question 42

Tacit Knowledge

Answer 42

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