Project IT Chapter 4

integrated change control

Identifying, evaluating, and managing changes throughout the project life cycle

Developing the project management plan

involves coordinating all planning efforts to create a consistent, coherent document—the project management plan.

Strategic planning

involves determining long-term objectives, predicting future trends, and projecting the need for new products and services

Developing the project charter

involves working with stakeholders to create the document that formally authorizes a project—the charter.

balanced scorecard

is a methodology that converts an organization's value drivers, such as customer service, innovation, operational efficiency, and financial performance, to a series of defined metrics

weighted scoring model

is a tool that provides a systematic process for selecting projects based on many criteria

Closing the project

phase involves finalizing all activities to formally close the project or phase

Monitoring and controlling

project work involves overseeing activities to meet the performance objectives of the project

Managing Project Knowledge

to achieve project objectives while contributing to organizational learning

Organizational process assets

which include formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information

SWOT analysis

analyzing Strengths, Weaknesses, Opportunities, and Threats

Breakeven Analysis

asks how many customers or how many visitors to the site will make it worthwhile

Return on Investment (ROI)

dedetermines if a project is worth the investment

Payback Analysis

determines how long it will take for your project to be successful

Net Present Value (NPV)

discounts expected future inflows and outflows in today's financial terms