PROJECT INTEGRATION MANAGEMENT Project integration management It involves coordinating all of the other project management knowledge areas

s throughout a projects life cycle 6 main processes involved in project management integration Developing the project charter Developing the project management plan Directing and managing project execution Monitoring and controlling project work Performing integrated change control Closing the project or phase Interface management summary Involves identifying and managing the points of interaction between various elements of the project Project integration summary Initiating Process: Develop project charter Output: Project management plan Planning Process: Develop project management plan Output: Project management plan Executing Process: Direct and manage project execution Output: Deliverables, Work performance info, change request, Project management plan updates, project document updates Monitoring and controlling Process: Monitor and control Output: Change request, project management plan updates, project document updates Process: Perform integrated change control Output: change request status updates, project management plan updates, project document updates Closing Process: Close project or phase Output: Final product, service or result transition; organizational process assets updates Strategic planning and project selection It involves determining long term objectives by analyzing the strength and weaknesses of an organization, studying opportunities and threats in the business environment SWOT analysis Analyzing strength, weaknesses, opportunities and threats Use to aid strategic planning Mind mapping A technique that uses branches radiating out from a core idea to structure thoughts and idea

SWOT analysis

SWOT analysis of Starbucks coffee

Identifying potential projects Information technology planning stage

Results produced

 INFORMATION TECHNOLOGY STRATEGY PLANNING -tie information technology strategy to mission and vision of organization identify key business areas BUSINESS AREA ANALYSIS -document key business processes that could benefit from information technology PROJECT PLANNING -defines potential projects, scopes, benefits and constraints RESOURCE ALLOCATION -select information technology projects -assign resources Methods for selecting projects 5 common techniques Focusing on board organizational needs Categorizing information technology projects Performing net present value or other financial analyses Using a weighted scoring model Implementing a balanced scorecard Categorizing information technology projects PROBLEMS -undesirable situation that prevent an organization from achieving goals OPPORTUNITIES -chances to improve the organization DIRECTIVES - new requirement imposed by the management government or some external influence NET PRESENT VALUE ANALYSIS (NPV) -a method calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point of time COST OF CAPITAL -the return available by investing the capital elsewhere CASH FLOW -benefit minus cost or income minus expenses NET PRESENT VALUE ANALYSIS (NPV) To determine NPV, follow these steps; Determine the estimated cost and benefits for the life of the project and the product it produces Determine the discount rate Calculate the net present value

DISCOUNT RATE
-the rate use in discounting cash flow -also called the capitalization rate or opportunity cost of capital DISCOUNT FACTOR -a multiplier for each year based on the discount rate and year RETURN ON INVESTMENT (ROI) -the result of subtracting the project cost from the benefits and then dividing by the cost REQUIRED RATE OF RETURN -the minimum acceptable rate of return or an investment PAYBACK ANALYSIS -another important financial tool to use when selecting projects PAYBACK PERIODS -the amount of time it will take to recoup in the form of

 PAYBACK ANALYSIS
-determine how much time will lapse before accrued benefits overtake accrued and continuing cost Using a weighted scoring model Weighted scoring model -a tool that provides a systematic process for selecting project based on criteria Criteria CAN INCLUDE FACTORS SUCH AS: Meeting board organizational needs Addressing problems, opportunities and directives Amount of time, it will take to complete the project Overall priority of the project Projected financial performance of the project Possible criteria for IT projects Supports key business objectives Has strong internal sponsor Has strong customer support Uses realistic level of technology Can be implemented in 1yr. Or less Provides positive NPV Has low risk in meeting scope time and cost goals Implementing balanced scorecard BALANCED SCORECARD -a methodology that converts an organizations value drivers, such as customer service, innovation , operational efficiency, and financial performance to a series of defined metrics Inputs that are helpful in developing project charter Project statement of work A business case A contract Enterprise environmental factors Organizational process assets Developing a project charter PROJECT CHARTER -a document that formally recognizes the existence of a project and provides direction on the projects objectives and management The only output of the process to develop a project charter is a project charter. Although the format can vary tremendously, they should include at least of the ff. basic info: Project title and date of authorization Project managers name and contact information A summary schedule A summary of projects budget A brief description of the project objectives Project success criteria A summary of planned approach for managing the project A roles and responsibilities matrix

 A sign-off section for signature of key project stakeholders A comment section in which stakeholders can provide important comments related to the project Developing a project management plan Project management plan -a document use to coordinate all project planning documents and help guide a projects execution and control Project management plan contents the introduction or overview of the project should include, as a minimum, the following information: Project management plan contents The project name A brief description of the project and the need it addresses Sponsors name Name of the project manager and key team members Deliverables of the project A list of important reference materials A list of definition and acronyms, if appropriate Organizational charts Project responsibilities Other organizational or process related info The section of the project management plan describing management and technical approaches should include the following info: Management objectives Project controls Risk management Project staffing Technical processes The next section of the project management plan should describe the work to perform and reference the scope management plan. It should summarize the following; Major work packages Key deliverable Other work-related information The project schedule information section should include the following: Summary schedule Detailed schedule Other schedule-related information Summary budget Detailed budget Other budget-related information Using guidelines to create a project management plans

DIRECTING AND MANAGING PROJECT EXECUTION -Involves managing and performing the work describe in the project management plan COORDINATING PLANNING AND EXECUTION -are intertwined and inseparable activities. The main function of creating a project management plan is to guide project execution Providing strong leadership and a supportive culture Strong leadership and a supportive organizational culture are crucial during project execution. Project managers must lead by example to demonstrate the importance of creating good project plans and then following them in project execution Project execution tools and techniques Expert judgment Project management information system Monitoring and controlling project work Monitoring project work includes collecting, measuring and disseminating performance information It also involves assessing measurements and analyzing trends to determine what process improvement can be made Performing integrated change control Integrated change control -involves identifying, evaluating, and managing changes throughout the project life cycle 3 main objectives of integrated change control Influencing the factors that create changes to ensure that changes are beneficial Determining that a change has occurred Managing actual changes as they occurred

 Change control system -a formal documented process that describes when and how official project document may change Change control board -a formal group of people responsible for approving or rejecting changes to a project Configuration management -ensures that the description of the projects product are correct and complete Suggestion for performing integrated change control View project management as a process of constant communication and negotiation Plan for a change Establish a formal change control system, including a change control board(CCB) Use effective configuration management Define procedures for making timely decision on smaller changes Use written and oral performances reports to help identify and manage change Use project management and other software to help manage and communicate changes Focus on leading the project team and meeting , overall project goals and expectations Closing project or phases The last process in project integration management Outputs of closing projects -final product, service or result transition -organizational process asset updates Using software to assist in project integration management Project management software -an important tool for developing and integrating project planning document executing the project management plan and related project plans, monitoring and controlling project activities, and performing integrated change control Business service management (BSM) BSM tools track the execution of business process flows and expose how the state of supporting IT system and resources is impacting end to end business performance in real time