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PROJMAN - L3
Project Integration Management
| Question | Answer |
|---|---|
| refers to the processes required to ensure that the various elements of the project are properly coordinated. | Project Integration Management |
| ✓ Strengths, Weaknesses, Opportunities, and Threats ✓ used as aid in strategic planning | SWOT Analysis |
| ✓ outlines documents the business processes that are vital to achieving strategic goals, sand aids in discovering which ones could most benefit from IT | Business Area Analysis |
| • the method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time | Net Present Value (NPV) |
| means the return from a project exceeds the cost of capital– the return available by investing the capital elsewhere | positive NPV |
| • Determine the cash inflows and outflows for the project. • Determine the discount rate. | Net Present Value (NPV) |
| • income divided by investment • required rate of return for projects • the minimum acceptable rate of return on an investment | Return of Investment (ROI) |
| ROI FORMULA | |
| is the amount of time it will take to recoup the net amount invested in a project in the form of net cash inflows. | Payback PERIOD |
| occurs when the net discounted cumulative benefits and costs reach zero. | Payback |
| developed a methodology called balanced scorecard that aids in the selection and management of projects in alignment with the business strategy. | Drs. Robert Kaplan and David Norton |
| used to convert an organization’s value drivers, such as , innovation, operational efficiency, and financial performance, into a series of defined metrics | Implementing Balanced Scorecard |
| formally recognizes the existence of a project and provides direction on the project’s objectives and managemen | Project Charter |
| Statement of Work (SOW) is a narrative description of products and services to be delivered by the project. references the business need, product scope description and strategic plan | Project Charter |
| The organizational process assets that can influence the development of project charter include, but are not limited to | Project Charter |
| formal document used to coordinate all project planning documents and help guide a project’s execution and control | Project Management Plan |
| documents information such as key stakeholder’s names and organizations, their roles on the project, unique facts about each stakeholder, their level of interest in the project, their influence on the project and suggestions | stakeholder analysis |
| involves managing and performing the work described in the project management plan | Project Execution |
| involves the following to determine what process improvements can be made;collecting, measuring, and disseminating performance information | Monitoring and Controlling Project Work |
| refers to a formal, documented process that describes when and how the official project documents may be changed | Integrated Change Control |
| all the activities must be finalized and the completed or cancelled work must be transferred to the appropriate people | Closing Projects |
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