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Chapter 4: Project Integration Management

Project Integration Management
coordinating all of the other project management knowledge areas throughout a project life cycle
Interface Management
identifying and managing the points of interaction between various elements of a project
Strategic Planning
determining long term objectives by analyzing the strengths and weaknesses of an organization, studying opportunities and threats in the business environment, predicting future trends, and projecting the need for new products and services.
SWOT analysis
Strengths, Weaknesses, Opportunities, and Threats. A tool used for Strategic Planning.
Mind Mapping
a technique that uses branches radiating from a core idea to structure thoughts and ideas. sometimes used to perform SWOT analysis.
Problems
undesirable situations that prevent an organization from achieving its goals
Opportunities
chances to improve the organization
Directives
new requirements imposed by management, government, or some external influence
Net Present Value (NPV) Analysis
a method of calculating the expected net monetary gain or loss from a project by calculating the value of all expected future cash inflows and outflows at the present time
Cost of Capital
the return available from investing the capital elsewhere
Discount Rate
the interest rate used to discount cash flows
Return on Investment
the result of subtracting the project costs from the benefits and then dividing by the costs.
Required Rate of Return
the minimum acceptable rate of return on an investment
Payback period
the amount of time it will take to recoup the total dollars invested in a project, in terms of net cash inflows
Weighted Scoring Model
is a tool that provides a systematic process for selecting project cased on many criteria
Balanced Scorecard
a strategic planning an management system that helps organizations align business activities to strategy, improve communications, and monitor performance against strategic goals
Project Charter
a document that formally recognizes the existence of a project and provides direction on the projects objectives and management
Organizational Process Assets
formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information that can influence a projects success
Project Management Plan
a document used to coordinate all project planning documents and help guide a projects execution and control
Baseline
the approved project management plan plus approved changes
Integrated Change Control
identifying, evaluation, and managing changes throughout the project life cycle
Change Control System
a formal, documented process that describes when and how official project documents may be changed. Also describes the people authorized to make changes and the paperwork required.
Change Control Board
a formal group of people responsible for approving or rejecting changes to a project
Configuration Management
ensures that the descriptions of the projects products are correct and complete

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