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19 Cards in this Set
- Front
- Back
What are the Project Integration Management Processes
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Develop the project charter:
Develop the preliminary project scope statement: Develop the project management plan: Direct and manage project execution Monitor and control the project work: Perform integrated change control: Close the project: |
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What is Strategic planning
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this involves determining long-term objectives, predicting future trends, and projecting the need for new products and services.
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What is a SWOT analysis
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Strengths, Weaknesses, Opportunities, and Threats
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As part of strategic planning, organizations should
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Identify potential projects.
Use realistic methods to select which projects to work on. Formalize project initiation by issuing a project charter. |
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What is mind mapping
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a technique that uses branches radiating out from a core idea to structure thoughts and ideas.
Note some people use mind mapping to preform a SWOT analysis. |
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What are the 4 planning stages in an IT road map?
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1. IT strategy planning - Tie information technology strategy to mission and vision of organization, identify key business areas.
2. Business Area Analysis - Document key business processes that could benefit from information technology. 3. Project Planning - Define potential projects. Define project scope, benefits and constraints. 4. Resource Allocation - select information technology projects. Assign resources. |
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What are the Three important criteria for projects:
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There is a need for the project
There are funds available There’s a strong will to make the project succeed |
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What are the Three primary methods for determining the projected financial value of projects
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Net present value (NPV) analysis
Return on investment (ROI) Payback analysis |
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When does a project manager need to know about NPV
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Projects with a positive NPV should be considered if financial value is a key criterion.
The higher the NPV, the better. |
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What does a PM need to know about ROI
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The higher the ROI, the better.
Many organizations have a required rate of return or minimum acceptable rate of return on investment for projects. Internal rate of return (IRR) can by calculated by setting the NPV to zero. |
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What does a PM need to know about payback period
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Payback occurs when the cumulative benefits and costs are greater than zero. (simple & discounted)
Many organizations want IT projects to have a fairly short payback period. |
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What is A weighted scoring model
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it is a tool that provides a systematic process for selecting projects based on many criteria.
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What are the Steps in identifying a weighted scoring model:
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Identify criteria important to the project selection process.
Assign weights (percentages) to each criterion so they add up to 100 percent. The higher the weighted score, the better. Assign scores to each criterion for each project. Multiply the scores by the weights to get the total weighted scores. |
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What are 5 techniques used in selecting among possible projects
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1. focusing on broad organizational needs
2. Categorizing IT projects 3. Preforming a PV or other financial analysis. 4. Using a weighted scoring model 5. implementing a balanced score card |
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What is the formula for ROI
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ROI = [(Payback or benefits - Investment)/Investment)]*100
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What is the formula for NPV
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NPV = Rt / (1 + i) to the t
Do this for every year and then add them together. t - the time of the cash flow i - the discount rate (the rate of return that could be earned on an investment in the financial markets with similar risk.) Rt - the net cash flow (the amount of cash, inflow minus outflow) at time t (for educational purposes, R0 is commonly placed to the left of the sum to emphasize its role as (minus the) investment. |
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What is a balanced scorecard.
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it is a methodology that converts an organizations value drivers, such as customer service, innovation, operational efficiency, and financial performance to a series of defined metrics.
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What is A project charter
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it is a document that formally recognizes the existence of a project and provides direction on the project’s objectives and management.
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What should Key project stakeholders do with a project charter
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Key project stakeholders should sign a project charter to acknowledge agreement on the need and intent of the project; a signed charter is a key output of project integration management.
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