Integration Management

What is a project charter? How does it help the project?

A document issued by the sponsor during project initiating that formerly recognizes the existence of the project, gives the project manager authority, documents the business need, justification, customer requirements, and the product or service to satisfy those requirements.

What is a Change Control Board? Who may be on it?

A group of people that approves or rejects changes. May include: project manager, customer, experts, sponsor, others Assume that all projects have CCB's.

What is a kick-off meeting? When does it occur?

A meeting of all parties to the project. Project stakeholders, sellers, etc. to make sure everyone is on the same page. It is held at the end of the planning process group.

What is the project statement of work?

A narrative description of products, services, or results to be supplied. Describes need, product scope and how the project fits into the strategic plan. It is created by the customer or the sponsor prior to the beginning of the project. It is later refined in the project scope statement.

What are corrective actions?

Actions taken to bring expected future project performance in line with the project management plan

What are preventive actions?

Actions taken to deal with anticipated or possible deviations from the performance measurement baseline.

What are project documents?

Any documents that are used to manage a project that are not part of the project management plan. They include project charter, statement of work, contracts, stakeholder register, requirements documentation, activity list, quality metrics, risk register, change log, issue log, and any other such documentation.

Define benefit cost ratio.

BENEFIT/COST. The higher the number the better.

What are methods to select a project?

Benefit methods - Comparative. Constrained optimization - Mathematical

What are key outputs of the perform integrated change control process?

Change request status updates, updates to the project management plan, and project documents.

What are key outputs of the monitor and control project work process?

Change request, updates to the project management plan, and project documents.

What are organizational process assets? When are they used?

Company processes and procedures. Historical information. Lessons learned. They are used throughout the project management process.

Define working capital.

Current assets - Current liabilities. The amount of funds available to spend on projects.

What are key outputs of the the direct and managed project execution process?

Deliverables, change request, work performance information, updates to the project management plan, and project documents.

What is the processes of integration management?

Develop project charter. Develop project management plan. Direct and manage project execution. Monitor and control project work. Perform integrated change control. Close project or phase.

What are key outputs of the close project or phase process?

Final product. Formal acceptance. Organizational process assets updates

What are change request? When are they approved?

Formal requests to change parts of the project after the project management plan is approved. They are approved in the perform integrated change control process.

Explain the project managers role as an integrator.

Making sure all of the pierces of the project are properly coordinated and put together into one cohesive whole.

What is included in a project management plan?

Management plans for knowledge areas. Change Management plan. Configuration Mangement Plan. Requirements management plan. Process Improvement plan.

What are baselines?

Part of the project management plan used to measure performance against. Schedule baseline, scope baseline, cost baseline. These baselines are combined into the performance measurement baseline. Baselines can change with approved changes.

What is historical information?

Records of past projects, including lessons learned, used to plan and manage future projects. Records of the current project which will become part of organizational process assets.

What are different types of depreciation?

Straight line depreciation: Depreciate the same amount each time period. Accelerated depreciation: Depreciate an amount greater then Straight line each time period..

What is a project management information system?

The manual and automated system to submit and track changes and monitor and control project activities.

Define the law of diminishing returns.

The more you put into the effort, the less you get out of it.

Define payback period.

The number of time periods needed to recover an investment. A lower number is better than a higher one.

Define opportunity cost.

The opportunity given up by selecting one project over another.

What is the developed project management plan process? What is it's output?

The process of creating a project management plan that is bought into, approved, realistic and formal. Output: The project management plan.

What is a business case?

The project purpose and justification.

Define internal rate of return?

The rate an investment in the project will return. The higher the number the better. The rate at which a project's inflows and outflows are equal

Define net present value?

The value in today's dollars of some future costs and expenses. For cost, the lower the number the better. For revenue, the higher the number the better

Define present value?

The value today of future cash flows.

What is a Change Control System

a collection of formal documented procedures that define how project deliverables and documentation will be controlled, changed, and approved. in most application areas, the change control system is a subset of the configuration management system

What is a configuration management plan?

a plan to make sure everyone knows what version of the scope, schedule, and other components of the project management plan are the latest versions it defines how the project manager will manage changes to the deliverables and the resulting documentation

What are enterprise environmental factors? When are they used?

company culture and existing systems the project will have to deal with or can make use of they are used throughout the project management process

What are sunk cost?

expended cost.

What is a work authorization system?

the project manager's system for authorizing the start of work packages or activities it ensures work is done at the right time and in the proper sequence