Project Integration Flashcards
(49 cards)
What is an issue log?
Where all issues are recorded, tracked, and resolved.
Who can approve, defer, or reject change requests?
Project manager, change control board, or assigned team member.
What is a change management plan?
Describes how the change requests throughout the project will be formally authorized and incorporated.
Change request
The formal process used to propose and manage any changes to a baselined item, configuration element, or deliverable within a project.
Benefits management plan
Describes how and when the project benefits will be delivered and how we will measure those benefits.
Benefit-cost ratio
Benefit to cost or cost to benefit. You want the highest benefit to your cost. Cost should be lower than the benefit.
Payback period
The length of time it takes to break even on a project. The shorter the payback period the better.
Return on investment (ROI)
Simple equation that divides the net profit or loss from an investment by its cost. The higher the ROI the better.
Internal rate of return (IRR)
Resulting return on your investment in a given time period. The higher the internal rate of return the better.
Net present value (NPV)
The present value of a future stream of payments minus the initial investment cost. The higher the net present value the better.
Rates of return
Various financial measures used to measure project benefits and success.
Solution options
Identify set of options to be considered for addressing the problem or opportunity. (Required, desired, optional)
Needs assessment
May precede the business case. Shows the organizations goals and objectives and recommends project ideas to meet those goals.
Business case
Feasibility study that shows us whether the time investment and cost is worth the expected benefit. Go/no go decision.
Configuration management plan
Describes which items will be baselined and how information will be recorded when changes are made so the product remains consistent.
Change log
document that records all changes made during a project
Osmosis
absorbing knowledge passively over time, often through exposure rather than direct study.
Gap analysis
technique used in project management to compare the current state of a process, system, or performance against the desired future state.
Root cause
underlying reason for a problem, issue, or defect in a project.
Project management plan
comprehensive document that outlines how a project will be executed, monitored, controlled, and closed.
Project charter
formal document that authorizes the project and provides high-level information about objectives, scope, stakeholders, and the project manager’s authority.
What is a feasibility study?
an analysis that assesses whether a project is viable and worth pursuing based on technical, financial, legal, and operational factors.
What are external environmental factors? (EEFs)
conditions outside the project that influence or impact how the project is planned, executed, and managed.
What are organizational systems and governance?
refer to the structure, rules, and decision-making frameworks that influence how projects are planned, executed, and controlled within an organization.
