Section 9 - Integration (notes) Flashcards
What are 4 typical concerns to think about when tailoring a project
- What processes are needed and to what extent.
- The governance of the organization, what rules do we need to follow
- Enterprise environmental factors, are there requirements like policies that need to be followed.
- PMOs, are there best practice rules.
What are the 8 areas that we would be tailoring?
- Project life cycle: describes the phases that are needed and are unique to the project.
- Development life cycle: Adaptive or predictive… are we using scrum or prince.
- Management approaches
- Knowledge management: would depend on the familiarity of the project…. If you were working n a new type of project, more notes and information would be required.
- Change: might have a project on a strict deadline that has no changes
- Governance: what are the rules of the project.
Lessons learned: - Benefits: Priority or urgency.
Business case describes
- Market demand
- Organizational need
- Customer request
- Technological advance
- Legal requirement
- Ecological impacts
- Social need
What are 3 main types of Data gathering with a brief description
- Brainstorming: list ideas and analyze
- Focus Groups: bring people (stakeholders, experts) and have discussions
- Interviews: One to One, direct questions.
What are 3 examples with brief description of Interpersonal and Team Skills
- Conflict management: looking for resolution over conflicts
- Facilitation; Able to facilitate meetings
- Meeting management: having an agenda, represent key stakeholder groups… and having follow-up minutes and actions
What are the 11 things that a Project Charter will have in it?
- Project purpose
- Measurable project objectives
- High-level requirements
- Overall project risk
- Summary milestone schedule
- Preapproved financial resources
- Key stakeholders
- Approval requirements
- Exit criteria
- Assigned project manager
- Sponsor
What are murder boards
executives asks questions, and decide if they are going to move forward or not.
What is the Future Value of Money and what is the Formula
Future value of money, is asking how much is a certain amount of money worth in the future… For example, should we invest in this project, or will that money be better invested in interest.
FV=PV(1+i)ᴺ
FV = Future Value
PV = Present Value
I = interest rate
ᴺ = number of time periods
What is use of Present Value of Money and what is the formula
This is taking the amount you will get in the future… so you can know how much its worth investing in today
PV=FV/(1+i)
What is NPV
The Net Present Value calculates the value of multiple returns. Anything above 0 is good
What is IRR
Internal Rate of Return is the present value against the cash inflow… greater than -0 is a decent project selection
Assumptions logs are? (3 things)
- Believed to be true but not proven
- Updated throughout the project
- Assumptions and Constraints
