Project Integration Management Terms

Question 1

Configuration identification

Answer 1

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

Question 2

Configuration management plan

Answer 2

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 3

Configuration management system

Answer 3

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.

Question 4

Configuration status accounting

Answer 4

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

Question 5

Configuration verification and auditing

Answer 5

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

Question 6

Contract closure

Answer 6

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

Question 7

Cost baseline

Answer 7

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

Question 8

Explicit knowledge

Answer 8

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

Question 9

Future value

Answer 9

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 the given interest rate, and n is the number of periods.

Question 10

Mathematical model

Answer 10

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 11

Milestone

Answer 11

Milestones are 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.

Question 12

Murder boards

Answer 12

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. Also known as project steering committees or project selection committees.

Question 13

Net present value

Answer 13

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

Question 14

Payback period

Answer 14

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

Question 15

Present value

Answer 15

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 16

Project charter

Answer 16

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 17

Quality baseline

Answer 17

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

Question 18

Regression analysis

Answer 18

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

Question 19

Risk register

Answer 19

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 20

Schedule baseline

Answer 20

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 21

Scope baseline

Answer 21

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 22

Scoring models

Answer 22

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 23

tacit knowledge

Answer 23

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