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Project Integration Management.txt

  1. During which phases should the project team be involved in project management details? When shouldn't they?
    DO involve them during planning, but buffer them more during execution.
  2. What is the Initiating process in the Project Integration Management knowledge area?
    Develop Project Charter
  3. What are the 2 key inputs to Develop Project Charter?
    • Statement of Work (SOW)
    • Business Case
  4. List 9 project selection metrics used in business cases
    • Benefit Cost Ratio (BCR)
    • Economic Value Add (EVA)
    • Internal Rate of Return (IRR)
    • Present Value (PV)
    • Net Present Value (NPV)
    • Opportunity Cost
    • Payback Period
    • Return on Investment (ROI)
    • Return on Invested Capital (ROIC)
  5. What is the most common reason for a project to be initiated?
    Customer request
  6. Define Benefit Cost Ratio (BCR). Want higher or lower?
    • BCR = Benefits ($) / Cost ($)
    • Higher is better
  7. Define Economic Value Add (EVA). Want higher or lower?
    • EVA = after tax profit - (capitol invested * cost of capitol as a rate)
    • Higher is better
  8. Define Internal Rate of Return (IRR). Want higher or lower?
    • Project's return expressed as an interest rate.
    • Higher is better
  9. Define Present Value (PV). Want higher or lower?
    • Future payouts discounted to today.
    • Higher is better
  10. Define Net Present Value (NPV). Want higher or lower?
    • NPV = Present Value - costs
    • Higher is better
  11. Define Return on Investement (ROI). Want higher or lower?
    • ROI = (Benefit $ - Cost $) / Cost $
    • Higher is better
  12. Define Return on Invested Capital (ROIC). Want higher or lower?
    • For every dollar I invest, how much can I expect in return?
    • ROIC = Net income / Total capital invested
    • Higher is better
  13. What document assigns a PM to the project and gives him authority?
    Project Charter
  14. What 5 elements are described in the Project Charter?
    • The project need
    • Who is the PM and what authority does he have
    • High-level requirements
    • High-level (milestone level) schedule
    • Preliminary budget
  15. What is the output of Develop Project Charter
    Project Charter
  16. What are the inputs for Develop Project Management Plan
    • Project Charter
    • Outputs from planning processes (for the component plans)
    • Enterprise Environmental Factors
    • Organizational Process Assets
  17. What is the output of Develop Project Management Plan
    Project Management Plan
  18. Who typically approves the project plan
    • Project Manager
    • Project Sponsor
    • Functional Managers (who are providing project resources)
    • Note: Customer & Senior Mgmt typically do NOT approve it.
  19. List the 15 components of the Project Management Plan and the processes that create each
    • Scope Mgmt Plan - Develop Project Mgmt Plan
    • Schedule Mgmt Plan - Develop Project Mgmt Plan
    • Cost Mgmt Plan - Develop Project Mgmt Plan
    • Change Mgmt Plan - Develop Project Mgmt Plan
    • Configuration Mgmt Plan - Develop Project Mgmt Plan
    • Scope Baseline - Create WBS
    • Schedule Baseline - Develop Schedule
    • Cost Baseline - Determine Budget
    • Requirement Mgmt Plan - Collect Requirements
    • Quality Mgmt Plan - Plan Quality
    • Process Improvement Plan - Plan Quality
    • Human Resources Plan - Develop Human Resources Plan
    • Communications Mgmt Plan - Plan Communications
    • Risk Mgmt Plan - Plan Risk Mgmt
    • Procurement Mgmt Plan - Plan Procurements
  20. What are the 2 key inputs to Direct & Manage Project Execution?
    • Project Management Plan
    • Approved Change Requests
  21. What are the 2 key outputs from Direct & Manage Project Execution?
    • Deliverables
    • Work Performance Information
  22. Where do deliverables flow after being created during Direct & Manage Project Execution?
    Perform Quality Control & Verify Scope
  23. What are the 2 key inputs to Monitor & Control Project Work
    • Project Management Plan
    • Performance Reports (produced by Communication Mgmt process: Report Performance)
  24. What are the 3 outputs from Monitor & Control Project Work
    • Change Requests
    • Project Management Plan Updates
    • Project Document Updates
  25. How are the focuses different for "Monitor & Control Project Work" vs. "Perform Integrated Change Control"?
    MCPW focuses on project EXECUTION. PICC focuses on CHANGES to the project.
  26. What are the 3 key inputs to Perform Integrated Change Control?
    • Change Requests
    • Project Management Plan
    • Work Performance Info
  27. What is the key tool for Perform Integrated Change Control?
    Change Control Meetings
  28. What are the 3 key outputs from Perform Integrated Change Control?
    • Change Request Status Updates
    • Project Management Plan Updates
    • Project Document Updates
  29. What are the 3 key inputs to Close Project or Phase
    • Project Management Plan
    • Accepted Deliverables
    • Organizational Process Assets
  30. What are the 2 key outputs to Close Project or Phase
    • Final Product, service, or result transition (i.e. handing over the goods)
    • OPA Updates
Author
lazarwolfe
ID
84078
Card Set
Project Integration Management.txt
Description
PMP Exam Integration Management
Updated

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