Integration Management Knowledge area

Question 1

What is integration management

Answer 1

Putting all pieces of project together into a cohesive whole

Question 2

Processes of integration management

Answer 2

Develop project charter (Initiating)
Develop project management plan (Planning)
Direct and manage project work (Executing)
Manage project knowledge work (Executing)
Monitor and control project work (Monitoring and controlling)
Perform Integrated change control (M & C)
Close project or phase (Closing)

Question 3

Develop project charter process (Initiating)

What is included

Answer 3

Project Title and Description
Project Manager and Authority level
Business Case (Reason for initiation of project)
Resources Pre-Assigned - high level
Stakeholders - high level
Stakeholder Requirements - competing requirements resolved
Product description and deliverables
Measurable project objectives
Project approval requirements
High Level project Risks (+ve and -ve risks)
Project Sponsor

Question 4

Who is responsible for the distribution of project charter. Publishing project charter.

Answer 4

Sponsor

Question 5

Benefits of Project charter

Answer 5

Recognizes and authorizes the project
appoints PM and authority to spending money and commit resources
High level requirements
Links project to ongoing work of the organization

Question 6

Does project charter change during execution

Answer 6

No

Question 7

What are the different project selection methods

Answer 7

Benefits Measurement Methods (Comparative)

Constrained optimization methods(Mathematical approach)

Question 8

what are benefit measurement method

Answer 8

Murder board (a panel of pple who try to shoot down
Peer review
Scoring models
Economic models

Question 9

Constrained optimization methods(Mathematical approach)

Answer 9

Linear programming
Integer programming
Dynamic Programming
Multi-objective programming

Question 10

different Economic Models - Benefit measurement method

Answer 10

Present Value (PV)
Net Present Value (NPV)
Internal rate of return
Payback period
Benefit cost ratio

Question 11

Present value

Answer 11

Dollar today is worth more than a dollar tomorrow
Pv=fv/(1+r)^2
fv = future value
r = interest rate

Question 12

calculate PV for project with three installments below
1st installment of 100,000 at the start of the project
2nd installment of 100,000 at the end of 1st year
3rd installment of 100,000 at the end of 2nd year

Answer 12

1st installment PV = 100000/(1+0.10)^0 = 100,000
2nd installment PV = 100,000/(1+0.10)^1 = 90909
3rd installment PV = 100,000/(1+0/10)^2 = 82,645

Total Cashflow = 300000
present value for project= 273554

Question 13

Net present Value(economic model)

NPV > 0 project can be selected

Answer 13

present value of total benefits(revenue or income) minus the costs over time

Higher NPV is selected
NPV = PV of Income - PV of Cost

Question 14

Internal rate of return IRR (Economic model)

Answer 14

project with higher IRR should be selecting

how much percent a project will give back after a certain period

Question 15

Pay back period

Answer 15

Number of time periods to recover the investment on the project

Question 16

Benefit cost ratio

Answer 16

Ratio of Benefit v/s cost

> 1 should be selected

Question 17

Economic value added (EVA)

Answer 17

EVA is the amount of added value the project produces for the company’s shareholders above the cost of the project

Question 18

Opportunity Cost - Cost of selecting project over another project.

NPV 1 = 200000
NPV 2 = 150000
what is the opportunity cost of selecting project 1 only

Answer 18

150000

Question 19

Sunk cost

Answer 19

Cost already expended on the project. All money that has been spent until now.
Sunk cost is not considered when deciding whether to continue a troubled project.

Question 20

Law of diminishing return

Answer 20

after a certain point adding more resources will not produce proportional increase in work or productivity.

Reason - co-ordination

Question 21

Working capital

Answer 21

Working capital = current assets - current liabilities

Question 22

Depreciation
Methods to calculate depreciation
Straight line depreciation
Accelerated depreciation

Answer 22

depreciation - capital assets looses value over time

straight line - constant reduction of amount
accelerated - aggressive reduction in initial years

Question 23

Project Statement of work (SOW)

Answer 23

Describes the needs, product scope and strategic plan

requirements

Question 24

Who creates the SOW

Answer 24

Created by customer or sponsor

Question 25

Project charters with work under contract

Answer 25

Buyer and seller should have independent charters for their own use

Question 26

Develop project management Plan process

Answer 26

2nd process of integration management plan defines strategy for managing the project and the process in knowledge area Unique for each project creation of management plans

Question 27

Management plan

Answer 27

covers how you will define, plan, manage and control the project looks forward in time to address management concern

Question 28

Project management plan - how is it different than other plan

Answer 28

integrates all knowledge area management plans into a cohesive whole includes a series of plans because of iteration and baselines

Question 29

what does project management plan include

Answer 29

``` project management process management plans for knowledge areas scope, schedule and cost baseline Requirements management plan change management plan configuration management plan - versioning Process improvement plan ```

Question 30

Baseline

Answer 30

snapshot of project at a certain time baseline can only be changed by change request or with acknowledgment of project sponsor

Question 31

Performance measurement baseline

Answer 31

scope baseline + schedule baseline + Cost baseline

Question 32

WBS, wbs dictionary

Answer 32

Work breakdown structure, provides definition of wbs

Question 33

change control board

Answer 33

changes are evaluated and approved

Question 34

deviation in baseline

Answer 34

are often due to incomplete risk identification and risk management

Question 35

Requirement management plan

Answer 35

is part of scope management plan | describes how requirements will be identified, managed and controlled

Question 36

change control system

Answer 36

includes standardized forms, processes, procedures, and software to track and control changes.

Question 37

Configuration management plan

Answer 37

defines how to manage deliverables and resulting documentation. which organizational tools will be used on the project. Version management and defines versioning

Question 38

configuration management system

Answer 38

part of PMIS - PM information system tools for versioning may include change control system

Question 39

Project documents

Answer 39

documents used to manage a project updated during the project not part of project management plan project charter, SOW, activity list, quality matrics are eg.

Question 40

kick off meeting

Answer 40

just before execution. Last step of planning process | main purpose is to make sure everyone is on the same page

Question 41

project plan approval

Answer 41

Management Sponsor Project team stakeholder

Question 42

Direct and mange project work process (executing) Integration management knowledge area

Answer 42

managing people, doing work and implementing approved changes requesting changes, and completing approved change requests

Question 43

input and output of direct and manage project work

Answer 43

inputs project planning approved changes corrective actions preventive action defect repair output new change requests deliverables work performance information implementation of changes, corrective action, defect repair and preventive action updates to project management plan and project document

Question 44

Manage project Knowledge (executing) Integration management

Answer 44

main output is lessons learned register. Starts early in the project Knowledge can be explicit or tacit

Question 45

Monitor and control project work process (M&C) integration management

Answer 45

from initiating to closing output - change request and updates to project management plan and project documents monitoring performance measures

Question 46

Perform integrated change control process

Answer 46

``` changes are accepted/rejected/handled access the change look for options change is approved/rejected update the status of change in change control system ```

Question 47

change control board (CCB) Perform integrated change control process

Answer 47

evaluates and approves/rejects changes ``` members customers PM sponsor experts etc. ```

Question 48

Process for making changes Perform integrated change control process

Answer 48

Prevent root cause of changes identify the change impact of change - options or alternative change request submission perform integrated change control process adjust the PM plan, project documents and baselines manage stakeholder expectations manage the project to the revised project plan and project documents

Question 49

Close project or phase process

Answer 49

focuses on closing out all knowledge areas acceptance of documents closure of documents and archival in OPA's getting final approval of the overall project from customer. project will be closed even if its terminated.