Integration Management

Question 1

validate Scope Process

Answer 1

the process of formalizing acceptance of the completed project deliverables

Question 2

Document Analysis

Answer 2

used to determine requirements by analyzing the existing document and identify the types of information that are important to the requirements.

Question 3

Alternative Analysis

Answer 3

The evaluation of different choices available to achieve a particular project management objective.

Question 4

Cost-benifit Analysis

Answer 4

A systematic approach to calculate the investment cost and received benefits

Question 5

Product Analysis

Answer 5

A tool that is used to Define Scope. It generally involves asking questions about a product and forming answers to describe the use, characteristics, and other relevant aspects of what is going to be delivered at the end.

Question 6

Project Charter

Answer 6

A formal document that authorizes the existence of a project and gives authority to the manager to use organizational resources for achieving the project objectives.

Question 7

Project Management Plan

Answer 7

A formal, approved document that defines how the project is executed, monitored, and controlled. Contains (scope, requirements, schedule, cost, quality, resources, communication, risk management, procurement, and stakeholder engagement plans).

Question 8

Business Case

Answer 8

A document that describes information of a particular business to determine if the project is worth the investment.

Question 9

Feasibility Stage

Answer 9

An assessment of the practicality of a proposed project/plan.

Question 10

Iterative Lifecycle

Answer 10

To create, test, and revise until they’re satisfied with the end result. (Trail & error)

Question 11

Incremental Lifecycle

Answer 11

A process that focuses on small steps to reach the final product goal. (Step by step)

Question 12

Iteration Zero

Answer 12

Represents the initiation stage of the project and the level set between end customers and development team.

Question 13

Issue Log

Answer 13

A document used to record any challenges they face throughout the project life cycle.

Question 14

Hard Costs

Answer 14

Costs that are directly related to your construction project. (Buidling supplies, landscaping, …etc)

Question 15

Soft Costs

Answer 15

Costs that are indirectly related to your construction project. (Design, surveying, permits, loans…etc)

Question 16

Cost Overrun

Answer 16

Occurs when a project’s hard or soft costs exceed its budget because of internal or external factors.

Question 17

Opportunity Cost

Answer 17

Quantifies the impact of selecting one option instead of another ‘next best’ alternative.

Question 18

Sunk Costs

Answer 18

Costs that cannot be recovered by the project.

Question 19

Payback Period

Answer 19

The amount of time required to earn back the money invested in a project.

Question 20

User Story

Answer 20

A short, simple sentence that describes a feature or function of an app from the user’s point of view.

Question 21

Product Backlog

Answer 21

The product backlog is used to document and prioritize the requirements, features, functions, and user stories for releases or sprints

Question 22

Go / No Go Decision

Answer 22

Determines whether a project is worth all the effort and investment or should it be halted.

Question 23

Exit Criteria

Answer 23

Pre-determined requirements that must be met in order for a process, project or program to progress to the next step.

Question 24

Lesson Learnd

Answer 24

Documented knowledge gained from previous projects in such a way that it can help future projects.

Question 25

Data Analysis

Answer 25

The use of past and current project data to enable effective decisions on project delivery.

Question 26

Change Control Board

Answer 26

A group of people from the project team that meets regularly to consider changes to the project.

Question 27

Management Reserves

Answer 27

An amount of the project budget or project schedule held outside of the performance measurement baseline for management control purposes, that is reserved for unforeseen work that is within scope of the project.

Question 28

Integration Management Process

Answer 28

The coordination of all elements of a project efficiently.

Question 29

Project Management Lifecycle

Answer 29

initiation, planning, execution, and closure.

Question 30

Project Lifecycle

Answer 30

The order of processes and phases used in delivering projects.

Question 31

Steering Committee

Answer 31

A governing body of key stakeholders tasked with overseeing and supporting a project.

Question 32

Key Stakeholders

Answer 32

Stakeholders who have the influence and authority to dictate whether a project is a success or not. (Aramco).

Question 33

Net Present Value

Answer 33

The difference between the value of cash now and the value of cash at a future date.

Question 34

Assumption Log

Answer 34

A place to log all assumptions and track the validation of each one.

Question 35

Constraints

Answer 35

Any restriction that defines a project's limitations. (Regulations, time, requirements).

Question 36

Integrated Change Control

Answer 36

The process of reviewing all change requests; approving changes and managing changes to deliverables, project documents, and the project management plan; and communicating the decisions.

Question 37

Kick-off Meeting

Answer 37

The first meeting with the project team and the client of the project where applicable. This meeting is the time to establish common goals and the purpose of the project.

Question 38

Lesson Learnd

Answer 38

Documented information that reflects both the positive and negative experiences of a project.

Question 39

Organizational process assets

Answer 39

tangible resources used by an organization to guide the management of its projects and operations. They include things like templates, contracts, processes, reports, and financial statements.

Question 40

Enterprise environmental factors

Answer 40

all policies, practices, procedures, and legislation that exist both inside and outside of the organization that will impact the way you manage a project.

Question 41

Net Present Value

Answer 41

What’s the value of an investment with multiple returns? NPV = (present value of future cash flow) - (present value of investment)

Question 42

WAAC

Answer 42

Weighted average cost of capital