Integration MgMT (PMP)

Project Management

Integration Management

Develop Project Charter (I)

Develop Project Management Plan (P)

Direct and Manage Project Work (E)

Manage Project Knowledge (E)

Monitor and Control Project Work (MC)

Perform Integrated Change Control (MC)

Close Project or Phase (C)

Project Charter

• Formally authorizes the project or phase

• Contains high level reqs

• Assigns a PM

• Usually developed by the sponsor

• Outlines high-level scope, schedule, cost, and benefits

• Identifies stakeholder

• Project Charter = Business case + Project Benefits Managment Plan

• Project Charter output = PM Plan

Business Case

• Justifies why the business should do this project

• Business does cost-benefit analysis to justify the money being spent

• Reasons to initiate the project

  • Market demands

  • Organizational needs

  • Customer demands

  • Technological advances

  • Legal reqs

  • Environmental impact

  • Social Needs

• Project Selection Methods:

  • Benefits-Cost Ratio (BCR)= larger the ratio, better the project

  • Internal Rate of Return (IRR) = return of the project investment as an interest rate. Higher the %, better the project

  • Opportunity cost = entire profit amt of project b, when you choose the project a (as it’s benefits are higher)

  • Payback period = how long it will take to get the invested capital back

  • Economic Value Add (EVA) = calculates profits that remain after deducting a company's cost of capital. EVA = NOPAT – (Capital Employed * Cost of Capital).

  • Present Value (PV) and Net Present Value (NPV) = Bigger the better

  • Return on Investment (ROI) = % of money you get back on the project. Bigger the better

Project Benefits Management Plan

• Benefits could be product, service, or result

• Created by doing the cost-benefit analysis

• Sr. leadership is interested in this

• Continually modify/maintained

Assumption Log

Log of assumptions and constraints

Change Requests

• Comes from sponsors, customers, team members, or sr mgmt

• Requested because of preventative actions, corrective actions, or defect repairs

• Pass through Perform Integrated Change Control for further review/assessment

Manage Project Knowledge

• Knowledge Mgmt

• Knowledge cab be

  • Explicit = Tangible form (docs, procedure, manuals)

  • Tacit = gained by doing (know-how), difficult to transfer between people, experience knowledge

    • Can be shared by networking, meetings, workshops, seminars, discussions, training

Monitor and Control Project Work

• Process of tracking, monitoring, and reporting progress of the project

• Goal = keep the project on plan

• If falling behind on schedule or budget, preventative or corrective actions are needed in the form of a change request.

• Compare the current work with the plan

• MC run in parallel to the executing processes

• Agile projects - MC can be done by the team

• Main output = Work Performance Reports

Close Project or Phase

• PM reviews the project scope baseline and completed work to ensure all work was in scope and done correctly.

• Transfers the deliverable

• Get formal acceptance

• Captures lessons learned/ Updates knowledge base

• Releases team

• Contract complete or incomplete

• If incomplete contract, move to a new phase

• Close the project/contract