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INTEGRATION MANAGEMENT
4.1 Develop Project Charter: The process of developing a document that formally authorize a project or a phase and provides the project manager with the
authority to apply organizational resources to project activities. The initiator's (sponsor) signature on the Charter authorizes the project. The approved
Project Charter formally initiates the project.
SOW: The essential elements of the SOW are 1. WHAT is to be done (Product Scope Description), 2. The business REASON for doing it (Business Need),
and 3. HOW the project supports the organization's strategy (Strategic Plan). And it is a written description of the project's product, service, or result.
For Internal Projects, the Project Initiator or Sponsor provides. For External Projects, the Customer provides as part of a bid document. PMI calls a SOW
for external organizations 'a contract statement of work'.
Project Selection Methods:
1- Benefit Measurement Methods(Comparative approach):
i) Economic Models ii) Scoring Models iii) Peer Review iv) Murder Board
Economic Models PV, NPV, IRR, Payback Period, Cost-Benefit Analysis
Present Value (PV) and Net Present Value (NPV): Bigger PV or NPV makes a project more attractive.
Internal Rate of Return (IRR) - Bigger is better
Payback Period - a Shorter payback period is better than a longer one.
Cost-benefit Analysis calculates benefit cost ratio. >1 means benefits are greater than cost; <1 means costs are greater than benefits.
Economic Value Added (EVA) whether the project returns to the company more value than initiative cost
Opportunity Cost - 'What is the cost of the other opportunities we missed by investing our money in this project?' The Smaller the opportunity
cost, the better The opportunity cost when selecting between two projects is simply thevalue of the project that is not selected.
Sunk Cost expended cost. Should not be considered while taking decision about troubled project
Law of diminishing Returns states that after a certain point, adding more inputs will not produce proportional increase in productivity
Working Capital Current Assets minus current liabilities
Return on Investment (ROI) - Bigger is better.
Return on Invested Capital (ROIC) = Net Income (after tax) from Project / Total Capital Invested in the Project.
Depreciation Large Asset purchased by a company lose value over time
o Straight Line Depreciation same amount of depreciation take each year e.g. $1,000 item with 10 year useful life with no salvage value
(how much item is worth the end of life) would be depreciated at $100 per year
o Accelerated Depreciation
It is based on PMBOK 5. Please note that these are my personal notes and created using several books, online forums, already created notes by others. If you have any suggestions please feel free to drop an email to
shraddha.pmp@gmail.com. There is no liability assumed for damages resulting from the use of information.
INITIATING
Project Charter
Project Charter is created based on some need, and it should explain that need.
PC is signed by the performing organization's Senior Management.
PC names the PM and gives PM authority to manage.
PC should include the high-level project requirements, high-level Project Description, high-level Risks.
PC should include a high-level milestone view of the project schedule.
PC is a high-level document that does not include project details; the specifics of project activities will be developed later.
PC includes a summary-level preliminary project budget.
Show organizational, environmental and external CONSTRAINTS and ASSUMPTIONS.
If it was not created in any troubled project then it should be created immediately after identifying this. No matter how much % project is over
1. Project Statement of Work (SOW)
1. Expert Judgment
1. Project Charter (PC)
2. Business Case (is the document that justifies
why the project should be accomplished)
2.Facilitation technique
3. Agreement/ Contract
4. EEF
5.OPA
It is based on PMBOK 5. Please note that these are my personal notes and created using several books, online forums, already created notes by others. If you have any suggestions please feel free to drop an email to
shraddha.pmp@gmail.com. There is no liability assumed for damages resulting from the use of information.
PLANNING
4.2 Develop Project Management Plan: The process of defining, preparing and coordinating all subsidiary plans and integrating them into a comprehensive
project management plan. The Project Plan is "a formal, approved document that defines HOW the project is executed, monitored and controlled, and
closed. It may be summary or detailed and may be composed of one or more subsidiary management plans and other planning documents". It would be
approved by * The Project Manager, * The Project Sponsor, * The Functional Manager who are providing resources for the project. (For the exam we
will do much better to think of the Project Management Plan as always being DETAILED).
Project Management Plan contains Scope + Schedule + Cost Baseline
Subsidiary plans Requirement, Configuration, Change,
Scope, Schedule, Cost, Quality, Process Improvement, HR, Communication, Risk, Procurement, Stakeholder
Other things Lifecycle selected
1. Project Charter
1. Expert Judgment
1. Project Management Plan
2. Outputs from other Processes
2.Facilitation Techniques
3. Enterprise Environmental Factors
4. Organizational Process Assets
EXECUTING
4.3 Direct and Manage Project Work: The process of leading and performing the work defined in the project management plan and implementing
approved changes to achieve the project's objectives.
Change Requests is a formal proposal to modify any document, deliverables or baseline
1.Corrective Actions: An intentional activity that realigns the performance of project work with project management plan
2. Preventive Actions: An intentional activity that ensures future performance of the project work is aligned with project management plan
3. Defect Repair: An intentional activity to modify a nonconforming product or product component
4. Updates: Changes to formally controlled project documentation, plans, etc., to reflect modified or additional ideas or content.
# Corrective and Preventive Actions do not normally affect the Project Baselines, only the performance against the baselines.
# Work performance data raw observations and measurements identified during activities being performed to carry out project work. Data is
gathered through work execution and passed to the controlling process e.g. No of CR, No of defects, start and finish dates of schedule
1. Project Management Plan
2. Approved Change Requests
3. Enterprise Environmental Factors
1. Expert Judgment
2. Project Management Information System PMIS
(It can include both manual and automated
systems
1. Deliverables
2. Work Performance Data
3. Change Requests
It is based on PMBOK 5. Please note that these are my personal notes and created using several books, online forums, already created notes by others. If you have any suggestions please feel free to drop an email to
shraddha.pmp@gmail.com. There is no liability assumed for damages resulting from the use of information.
It is based on PMBOK 5. Please note that these are my personal notes and created using several books, online forums, already created notes by others. If you have any suggestions please feel free to drop an email to
shraddha.pmp@gmail.com. There is no liability assumed for damages resulting from the use of information.
CLOSING
M&C
# Configuration control is focused on the specification of both the deliverables and the processes while change control is focused on identifying, documenting
and controlling changes to the project and the product baselines.
#EEF PMIS Configuration management System Change Control System
# Work Authorization System subsystem of overall project management system. Collection of formal documented procedures that defines how project
work will be authorized to ensure work is done at RIGHT Time and in proper sequence
#Project Management plan
1. Scope, Schedule, Cost, Quality, HR, Communication, Risk, Procurement Plans
2. Requirement Management Plan
3. Process Improvement Plan
4. Change management plan
5. Configuration Management Plan
6. Scope, Schedule, Cost Baseline = Performance measurement baselines
#Kick Off Meeting This is the meeting for all parties of the project. Purpose of the meeting is to make certain everyone is familiar with the details of the
project and people working on the project.
#Detailed process of making Changes
1. Prevent the Root Cause of Changes
2. Identify Change
3. Look at the impact of the Change
4. Create a Change Request
5. Perform Integrated Change Control i)Assess the Change (ii)Look for options (iii)Change is approved or rejected (iv)Update the state of the change in
Change Control System
6. Adjust the project management plan, project documents, baselines
7. Manage Stakeholders expectations by communicating the change to stakeholders affected by the change
8. Manage the project to the revised project management plan and project documents.
It is based on PMBOK 5. Please note that these are my personal notes and created using several books, online forums, already created notes by others. If you have any suggestions please feel free to drop an email to
shraddha.pmp@gmail.com. There is no liability assumed for damages resulting from the use of information.