Session 21 4th edition PMP


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  • Before we discuss about change management plan, it is important that we understand about the baseline
  • Session 21 4th edition PMP

    1. 1. Project Integration Management
    2. 2. • Process Groups & Knowledge Areas Mapping Knowledge Area Process Initiating Planning Executing Monitoring & Control Closing Integration Develop Project Charter Develop Project Management Plan Direct and Manage Project Execution Monitor and Control Project Work Perform Integrated Change Control Close Project Scope Collect Requirements Define Scope Create WBS Verify Scope Control Scope Time Define Activities Sequence Activities Estimate Activities Resources Estimate Activities Duration Develop Schedule Control Schedule Cost Estimate Costs Determine Budget Control Costs Quality Plan Quality Perform Quality Assurance Perform Quality Control Human Resource Develop Human Resources Plan Acquire Project Team Develop Project Team Manage Project Team Communication Identify Stakeholders Plan Communications Distribute Information Manage Stakeholders Expectations Report Performance Risk Plan Risk Management Identify Risk Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Response Monitor and Control Risks Procurement Plan Procurements Conduct Procurements Administer Procurements Close Procurements
    3. 3. Project Integration Management Knowledge Area Process Initiating Planning Executing Monitoring & Contol Closing integration • Develop Project Charter • Develop Project Management Plan • Direct and Manage Project Execution • Monitor and Control Project Work • Perform Integrated Change Control • Close Project Enter phase/ Start project Exit phase/ End project Initiating Processes Closing Processes Planning Processes Executing Processes Monitoring & Controlling Processes
    4. 4. • Budgeting technique that debates the future value of money based on inflation, etc. • PV = FV/(1 + r)t • FV = amount of money to years from now • r = interest rate (also called “discount rate”) • t = time period Present Value PVFVyears 50.00050.0000 31.81935.0001 12.39715.0002 Assume a 10% interest (discount rate) Project selection methods
    5. 5. Net Present Value (NPV) Present Value at 10% interest rate CostsPresent Value at 10% interest rate Income or revenue Time Period 200200000 9110045501 00831002 002253003 291353Total NPV =353-291=62 Project with positive & greater NPV value is better
    6. 6. Benefit Cost Ratio – compares the benefits to the costs of different options – relates to costing projects and to determining what work should be done – Project with greater benefit-cost ratio value is better • If the BCR of project A is 2.3 and BCR of project B is 1.7 which project would you select? • The answer is A. the project with the higher BCR
    7. 7. -The interest (discount) rate where the present value of the benefits exactly equals the costs. -The higher the rate, the better the project. -An IRR of 0.15 means that you expect the project to return an average of 15% on your investment over a given time period (usually a number of years). Internal Rate of Return (IRR)
    8. 8. Payback Period The exact length of time needed to recover an initial investment as calculated from cash inflows.
    9. 9. initiating • Develop Project charter • The process of developing a document that formally authorizes a project or a phase Inputs • Project statement of work • Business case • Contract • Enterprise environmental factors • Organizational process assets Tools & Techniques 1. Expert judgment Outputs 1. Project charter
    10. 10. Develop Project Charter Data Flow Diagram
    11. 11. Develop Project Management Plan • The process of documenting the actions necessary to define, prepare, integrate and coordinate all subsidiary plans. Inputs 1. Project charter 2. Business case 3. Outputs from planning processes 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment Outputs 1. Project management plan
    12. 12. Project Management Plan • The strategy for managing the project and the processes in each knowledge area • Covers how you will define, plan, manage, and control the project. • Also includes: – Change management plan – Configuration management plan – Requirements management plan – Process improvement plan • How to handle a problem on a project? » look at your management plan to see how you planned to handle such a problem.
    13. 13. Baseline (Performance measurement baseline) • The project management plan contains scope, schedule, and cost baselines, against which the project manager will need to report project performance. • Baseline created during planning. – Scope baseline The project scope statement, work breakdown structure (WBS), and WBS dictionary – Schedule baseline The agreed-upon schedule, including the start and stop times – Cost baseline The time-phased cost budget • Deviations from baselines are often due to incomplete risk identification and risk management.
    14. 14. Change Management Plan • Describes how changes will be managed and controlled. • Covers for the project as whole • May includes: – Change control procedures (how and who) – The approval levels for authorizing changes – The creation of a change control board (CCB) to approve changes – A plan outlining how changes will be managed and controlled – Who should attend meetings regarding changes – Tools to use to track and control changes
    15. 15. Configuration Management Plan • Defines how you will manage changes to the deliverables and the resulting documentation, including which organizational tools you will use
    16. 16. QUESTIONS?
    17. 17. 1-Which of the following document can be used to guide all the work in both project executing and project monitoring and controlling phase of a project? 1.Project Management Plan 2.Project Risk Plan 3.Project QA Plan 4.Project Charter
    18. 18. 2-You are a project manager of a company and you have been assigned to take over managing a project that should have been 60 percent complete according to the schedule. After evaluation, you discover that the project is running far behind schedule, and that the project will probably take double the time originally estimated by the previous project manager. However, the sponsor has been told that the project is on schedule. What is the BEST course of action you will take? 1.Add new resource to the project and complete the project on schedule. 2.Show your evaluation to sponsor. 3.Ask your senior manager to deal with this. 4.Turn the project back to the previous project manager.
    19. 19. 3-Project A requires investment of $500,000. The project is expected to generate $25K per quarter for first year and $100K per quarter after that. What is the payback period? A- One year B-Two years C-Three years D-Eight year
    20. 20. 4-You have four projects from which to choose one. Project A is being done over a six year period and has a Net Present Value (NPV) of US $70,000. Project B is being done over a three year period and has a NPV of US $30,000. Project C is being done over a five year period and has an NPV of US $40,000. Project D is being done over a one year period and has an NPV of US $60,000. Which project would you choose? A. Project A B. Project B C. Project C D. Project D
    21. 21. Thank you