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Ed4 P4 Project Integration Management
 

Ed4 P4 Project Integration Management

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Prepared as part of PMP study

Prepared as part of PMP study

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    Ed4 P4 Project Integration Management Ed4 P4 Project Integration Management Presentation Transcript

    • Project Integration Management Presentation initially prepared by Ken Dixon, PMP Updated by Jon Ashby Chapter 4 of the PMBOK® Guide (Fourth Edition) Project Integration Management
    • Integration Management
      • The Project Integration Management includes process and activities needed to:
        • Identify
        • Define
        • Combine
        • Unify
        • Coordinate
      • … .. the various project management activities.
      • Although process are shown separately in the PMBOK Guide in fact the processes interact and this interaction is often iterative
      • There is no single best way to manage a project
      • Integration seeks to balance the often competing requirements of the knowledge areas
      • Apply PM knowledge and expertise to achieve desired project performance
      • Addresses all processes to the appropriate level at the appropriate time
      Project Integration Management Pages 71 - 72
    • Theory vs Reality Project Integration Management Note – in the Fourth edition of the PMBOK there is no Preliminary Scope Statement Process All the knowledge areas and processes are shown separately they are intermixed. Integration Management is controlling integration between the various processes.
    • Project Integration Management Project Integration Management Page 73 4.1 Develop Project Charter Formal authorisation of the project (or phase) Initiating 4.2 Develop Project Mgt Plan Documenting the actions needed for all subsidiary plans Planning 4.3 Direct & Manage Project Execution Perform the work to achieve the project objectives Executing 4.4 Monitor & Control Project Work Monitoring and controlling all of the processes of a project Monitoring and Controlling 4.5 Perform Integrated Change Control Reviewing, approving and controlling change requests Monitoring and Controlling 4.6 Close Project or Phase All of the activities needed to formally close the project or phase Initiating
    • Financial Considerations for Project Selection (1)
      • Payback Period
        • The least precise of all capital budgeting as all calculations are in $’s and are not adjusted for the time value of Money
        • Example
          • Project Cost $10,000
          • Project Return
            • Year 1 $1,000
            • Year 2 $2,000
            • Year 3 $2,000
            • Year 4 $5,000
            • Year 5 $2,000
          • Payback period is four years
      • The Time Value of Money
        • A $ today is worth more than a $ in a year’s time
        • FV = PV(1 + k) n where
          • FV = Future value of money
          • PV = Present value of money
          • k = Investment interest rate
          • n = Number of years
        • PV = FV / (1 + k) n
      • Exercise 1 – Calculate the FV for $1,000 after one year at a 10% interest rate
      • Exercise 2 – Calculate the PV for $1,000 earned in one year’s time at an interest of 10%
      Project Integration Management
    • Financial Considerations for Project Selection (2)
      • Answer 1. FV = $1,100 Answer 2. PV = $909
      • Net Present Value
        • We put everything in Present Value Terms
        • Example (From Kerzner)
          • Project Cost $10,000
          • Project Return
            • Year Cash Inflow Present Value
            • Year 1 $1,000 $ 909
            • Year 2 $2,000 $1,653
            • Year 3 $2,000 $1,503
            • Year 4 $5,000 $3,415
            • Year 5 $2,000 $1,242
            • Present value of cash inflows = $8,722
          • Therefore the Net Present Value is negative $1,278
      • NPV Decision making criteria
        • If the NPV is greater or equal to zero dollars accept the project
        • If the NPV is less than zero dollars, reject the project
      • Even more sophisticated is Internal Rate of Return (IRR), just remember that the higher the IRR the better the rate of return
      Project Integration Management
    • 4.1 Develop Project Charter
      • The reason for this process is to gain a Project Charter
      • The project charter formally authorises the project
      • A project sponsor, external to the PM organisation, issues the Charter
      • Contract – for external customer
      • Project Statement of Work
        • Business need
        • Product Scope description
        • Alignment to Strategic Plan
      • Environmental factors example – building a house requires council approval
      • Organisational Process Assets – use the processes that the organisation already has for managing projects, resources and staff
      • Project selection methods – PMP’s should learn some of these
      Project Integration Management Pages 73 - 78 4.1 Develop Project Charter
      • Inputs
      • Project statement of work
      • Business case
      • Contract
      • Enterprise environmental factors
      • Organisational process assets
      • Tools and Techniques
      • Expert judgement
      • Outputs
      • Project charter
    • 4.2 Develop PM Plan
      • The Project Management Plan is the process of documenting the actions necessary to define, prepare, integrate, and coordinate all subsidiary plans
      • The Project Management Plan can be in summary or detailed and usually includes the subsidiary plans from the other Knowledge Areas
      • Subsidiary Plans:
        • Scope management plan
        • Cost management plan
        • Quality management plan
        • Process improvement plan
        • Staffing management plan
        • Communications management plan
        • Risk management plan
        • Procurement management plan
      • Other components
        • Milestone list
        • Resource calendar
        • Schedule baseline
        • Cost baseline
        • Quality baseline
        • Risk register
      Project Integration Management Pages 78 - 82 4.2 Develop Project Management Plan
      • Inputs
      • Project charter
      • Outputs from planning processes
      • Enterprise environmental factors
      • Organisational process assets
      • Tools and Techniques
      • Expert judgement
      • Outputs
      • Project management plan
    • 4.3 Direct & Manage Project Execution
      • This is the process of performing all of the work defined in the project management plan. Activities include:
        • Perform activities to accomplish project requirements
        • Create project deliveries
        • Staff, train and manage the project management team
        • Obtain, manage and use resources
        • Establish and maintain project channels
        • Generate project data to facilitate project forecasting
        • Issue change requests and adapt these changes into the project
        • Manage risks
        • Manage sellers and suppliers
        • Collect and document lessons learned
      • Requires high level of general management skills
      • Very close relationship with Monitor and Control Project work
      • The process includes the implementation of approved changes covering:
        • Corrective actions
        • Preventative actions
        • Defect repairs
      Project Integration Management Pages 83 - 88 4.3 Direct and Manage Project Execution
      • Inputs
      • Project management plan
      • Approved change requests
      • Enterprise environmental factors
      • Organisational process assets
      • Tools and Techniques
      • Expert judgement
      • Project management information systems
      • Outputs
      • Deliverables
      • Work performance information
      • Change requests
      • Project management plan updates
      • Project document updates
    • 4.4 Monitor & Control Project Work
      • This process is concerned with:
        • Comparing actual performance against the project management plan
        • Assessing performance
        • Analysing, tracking and monitoring risks
        • Maintaining an information base concerning the project’s product(s)
        • Information for reporting
        • Forecasts for cost and schedule performance
        • Monitoring implementation of approved changes
      Project Integration Management Pages 94 - 96 4.4 Monitor and Control Project Work
      • Inputs
      • Project management plan
      • Performance reports
      • Enterprise environmental factors
      • Organisational process assets
      • Tools and Techniques
      • Expert judgement
      • Outputs
      • Change requests
      • Project management plan updates
      • Project document updates
    • 4.5 Perform Integrated Change Control
      • The process of reviewing all change requests, approving and managing changes to :
        • Deliverables
        • Organisational process assets
        • Project documents
        • Project management plan
      • Changes may be approved, rejected, or deferred
      • Changes affecting the baselines should be approved by a Change Control Board. The Project Manager may be authorised to approved other changes
      • Includes the Configuration management system. This includes:
        • Configuration identification
        • Configuration status accounting
        • Configuration verification and audit
      Project Integration Management Pages 93 - 99 4.5 Perform Integrated Change Control
      • Inputs
      • Project management plan
      • Work performance information
      • Change requests
      • Enterprise environmental factors
      • Organisational process assets
      • Tools and Techniques
      • Expert judgement
      • Change control meetings
      • Outputs
      • Change request status updates
      • Project management plan updates
      • Project documentation updates
    • 4.6 Close Project or Stage
      • The process of finalising all activities across all of the project process groups to formally complete the project or stage
      • Administrative closure procedure
        • Identifies activities required to close project
        • Collect project records
        • Analyse project success or failure
        • Gather lessons learned
        • Archive project information
      • Organisational Process assets updates
        • Project files
        • Formal acceptance documentation
        • Project closure documents
        • Lesson Learned
      Project Integration Management Pages 99 - 102 4.6 Close Project or Phase
      • Inputs
      • Project management plan
      • Accepted deliverables
      • Organisational process assets
      • Tools and Techniques
      • Expert judgement
      • Outputs
      • Final product, service, or results transition
      • Organisational process assets updates