Page 68 - Project+

function is project integration. A project manager leads the project team and oversees

all the work required to complete the project goals to the satisfaction of the
stakeholders.

Be able to identify the most common project selection methods. The most
common project selection methods are benefit measurement methods such as cost-
benefit analysis, scoring models, payback period, and economic models (which include
discounted cash flows, NPV, and IRR), as well as expert judgment.

Understand what skills are needed to manage a project beyond technical
knowledge of the product. Key general management skills include leadership,
communication, problem-solving, negotiation, organization, and time management.

Key Terms

Before you take the exam, be certain you are familiar with the following terms:

®
A Guide to the Project Management Body of Knowledge (PMBOK Guide )
benefit measurement methods

colocated

constrained optimization models

cost-benefit analysis

decision model

discounted cash flow

economic model

expert judgment

feasibility study

functional organization

internal rate of return (IRR)

matrix organization

net present value (NPV)

operations

payback period

portfolio

program

project

project management

68