Integration Mgmt Flashcards
Integration management
Practice of making certain every part of the project is coordinated
Project is started, pm assembles plan, executes and verifies and then closes
Responsibility cannot be delegated to someone else
PM is responsible for decision making
Integration management processes
Initiating - develop project charter
Planning - develop project management plan
Executing - direct and manage project work, manage project knowledge
Monitoring and controlling - monitor and control project work, perform integrated change control
Closing - close phase or project
Develop project charter output
Project charter
Assumption log
Develop project management plan output
Project management plan
Direct and manage project work output
Deliverables
Work performance data
Issue log
Manage project work output
Lessons learned register
Monitoring and control project work output
Work performance reports
Change requests
Perform integrated change control outputs
Approved change requests
Project document updates (change log)
Close project/phase output
Final product/service/result
Final report
Project document updates
Reasons a project may be chosen
Market demand Organizational need Customer request Technological advance Legal requirement Ecological impact Social need
Project selection methods
Benefit measurement
Constrained optimization - linear/nonlinear programming
Economics - calculations
Benefit cost ratio
Ratio of benefits to cost
Economic value add
After tax profit - (capital x cost of capital )
Internal rate of return
Bigger is better
Payback period
How long to recoup an investment
Opportunity cost
Smaller the better
Present value and net present value
Pv based on time value of money
Npv factors in cost
Return on investment
(Benefit - cost) / cost
Return on invested capital
Net income (after tax) / total capital invested
Project charter
High level requirements, specifics, budget, milestones
Objectives and measurements for success
List of key stakeholders
Specifies who signs off on final product
Written by sponsor and/or customer
Project birth certificate
Project management plan
Defines how the project will be managed, executed and controlled
Progressively elaborated
Formal single document
Once approved not changed unless through control change process
Most of its components are developed in other processes
Direct and manage project work
Team is executing work packages and creating the project deliverables
Direct and manage project work outputs
Deliverables
Work performance data (on deliverables)
Issue log
Manage project knowledge
Leveraging lessons learned from a previous project or this one
