PMP - RMC Intergration Management.txt

  1. integration management processes
    develop project charter, develop project management plan, direct and manage project execution, monitor and control project work, perform integrated change control, and close project or phase
  2. methods to select a project
    1. benefit measurement - comparative along with 2. constrained optimization - mathematical
  3. develop project management plan process
    the process of creating a project management plan that is bought into, approved, realistic, and formal
  4. output of develop project management plan process
    the project management plan
  5. items included in a project management plan
    1. project management processes for the project, 2. management plans for knowledge areas, 3. scope, schedule, and cost baselines, 4. requirements management plan 5. change management plan, 6. configuration management plan, 7. process improvement plan
  6. project documents
    any documents used to manage a project that are not part of the project management plan
  7. output of direct and manage project execution process
    project deliverables, work performance information, change requests, and updates to the project management plan and project documents
  8. output of monitor and control project work process
    change requests, and updates to the project management plan and project documents
  9. output of perform integrated change control process
    1. change request status updates and 2. updates to the project management plan and project documents
  10. output of close project or phase process
    1. final product, 2. formal acceptance, and 3. organizational process assets updates
  11. project manager role as an integrator
    make sure all the pieces of the project are properly coordinated and put together into one cohesive whole
  12. project charter
    a document issued by the sponsor during project initiating that:1. formally recognizes the existence of the project 2. gives the project manager authority and 3. documents the business need, justification, customer requirements and the product or service to satisfy those requirements
  13. business case
    the project purpose and justification
  14. kickoff meeting
    a meeting of all parties to the project to make sure everyone is on the same page. It is held at the end of the planning process group.
  15. baselines
    parts of the project management plan used to measure performance against. It include schedule, scope, and cost. They are combine to create an overall performance measurement. They can change with approved changes
  16. project statement of work
    document that describes need, product scope, and how the project fits into the strategic plan. It is created by the customer/sponsor prior to the beginning of the project. It is later refined in the project scope statement.
  17. 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
  18. 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.
  19. change management plan
    a system of formal procedures, set up in advance, defining how project deliverables and documentation are controlled, changed, and approved
  20. enterprise environmental factors
    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.
  21. organizational process assets
    company processes and procedures, historical information, lessons learned. They are used throughout the project management process
  22. 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.
  23. project management information system
    the manual and automated system to submit and track changes and monitor and control project activities
  24. change control board
    a group of people that approves or rejects changes. It may include: project manager, customer, experts, sponsor, others
  25. change request
    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
  26. preventative actions
    actions taken to deal with anticipated or possible deviations from the performance measurement baseline
  27. corrective actions
    actions taken to bring expected future project performance in line with the project management plan
  28. present value
    the value today of future cash flows
  29. 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.
  30. 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
  31. payback period
    the number of time periods needed to recover an investment. The lower the number the better.
  32. benefit cost ratio
    benefit / cost. The higher the number the better.
  33. opportunity cost
    the value of the opportunity given up by selecting one project over another
  34. sunk costs
    costs that have already been expended
  35. law of diminishing returns
    law that states, "the more you put into the effort, the less you get out of it"
  36. working capital
    current assets - current liabilities. The amount of funds available to spend on projects.
  37. two types of depreciation
    straight line depreciation and accelerated depreciation
Card Set
PMP - RMC Intergration Management.txt
PMP - RMC Intergration Management