Proj mgmt ch 3
problems
undesirable situations that prevent an organization from achieving its goals
if estimates for total discounted benefits for a project are $120,000 and total discounted costs are $100,000, what is the estimated ROI?
20 percent
project charter
a document that formally recognizes that existence of a project and provides direction on the project's objectives and management
change control board (CCB)
a formal group of people responsible for approving or rejecting changes on a project
change control system
a formal, documented process that describes when and how official project documents may be changed
return on investment (ROI)
a method for determining the financial value of a project; the ROI is the result of subtracting the project costs from the benefits and then dividing by the costs
net present value (NPV) analysis
a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time
discount factor
a multiplier for each year based on the discount rate and year
configuration management
a process that ensures that the description of a project's products are correct and complete
weight scoring model
a technique that provides a systematic process for selecting projects based on numerous criteria
mind mapping
a technique that uses branches radiating from a core idea to structure thoughts and ideas
Name some best practice for new product development project
aligning projects and resource with business strategy, focusing on customer needs in identifying projects, assigning project managers to lead projects
baseline
approved proj mgmt plan plus approved changes
cash flow
benefits minus costs or income minus expenses
___ ensures that the descriptions of the project's products are correct and complete
configuration management
strategic planning
determining long term objectives by analyzing the strengths and weaknesses of an organization, studying opportunities and threats in the business environment, predicting future trends, and projecting needs for new products and services
what are the processes involved with project integration management
developing the project charter, developing the project management plan, closing the project or phase
a new government law requires an organization to report data in a new way. Which of the following catefories would include a new information system to provide this data?
directive
project mgmt plan
document used to coordinate all project planning documents and guide project execution and control
what tool and technique is used for all processes of project integration mgmt?
expert judgement
organizational process assets
formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned and historical information that can influence a project's success
interface management
identifyfing and managing the points of interaction between various elements of a project
integrated change control
identifying, evaluating and managing changes throughout the project life cycle
balanced scorecard
methodology that converts an organization's value drivers to a series of defined metrics
required rate of return
minimum acceptable rate of return on an investment
which of the following items are normally included in a project charter?
name of the project manager, budget information, stakeholder signatures
directives
new requirements imposed by management, government or some external influence
project integration mgmt
processes that coordinate all project management knowledge areas throughout a project's life, including developing the project charter, developing the preliminary project scope statement, developing the project mgmt plan, directing and managing the project, monitoring and controlling the project, providing integrated change control, and closing the project
a _____ is a document that formally recognizes the existence of a project and provides direction on the project's objectives and management.
project charter
what is the last step in the four stage planning process for selecting IT projects?
resource allocation
SWOT analysis
strengths, weaknesses, opportunities, threats; used in strategic planning
payback period
the amount of time needed to recoup the total dollars invested in a project, in terms of net cash flow
internal rate of return (IRR)
the discount rate that results in an NPV of zero for a project
opportunity cost of capital
the rate used in discounting future cash flow; also called the capitalization rate or discount rate
discount rate
the rate used in discounting future cash flow; also called the capitalization rate or opportunity cost of capital
capitalization rate
the rate used in discounting future cash flow; also called the discount rate or opportunity cost of capital
cost of capital
the return available by investing capital elsewhere
business service management (BSM) tools
tools that help track the execution of business process flows and expose how the state of supporting IT systems and resources affects end to end business process performance in real time
which of the following are suggestions for performing integrated change control?
use good configuration management, establish a formal change control system, view project mgmt as a process of constant communication and negotiation
