CHAPTER 4: PROJECT INTEGRATION MANAGEMENT
On my opinion Every business has an Project Manager, a good project manager has a wide understanding on the knowledge areas, he/she must have a great powerful knowledge on implementation, demonstration and organizing its people special his/her organization.
From the “2015 Pulse of the Profession. Capturing the Value of Project Management” by PMI mentioned in the What Went Right section, page 194 of the 8th Edition of the book. The key points of the study are:· Project managers must lead to demonstrate and must have sufficient skills and knowledge in project management, as well as leadership and communication skills. · Organizations that are effectively using risk management practices can mitigate potential damages and problems.· The need for excellence in project management is continue emphasized.
The following are some specific steps organization can take to provide a supportive culture for project management.
· Delivering a Value in a Demanding Environment. The demand of the environment is rapidly growing and changing specifically the clients; so the project managers should have the sufficient skills and education.
· Back to Basics: Improving Project Management. Organizations need to know the basics. These basics imply that organizations must know the real essence of project management.
· Business Imperatives: Getting the Fundamentals Right. Organizations should also focus on the fundamental aspects of culture, talent and process. Culture starts with how employees see themselves in the company, how they see themselves in the projects they work on — the programs. And then ultimately how they align into the company, “Talent management is very important because without it the right people in project and program and portfolio management, we won’t succeed,” said Wanda Curlee, PMI-RMP, PMP, PgMP, PfMP, Director, Project, Program, Portfolios at Hewlett-Packard. Lastly, process basically means that organizations need to have unique strategies and procedures for the project to be successful.
· Foundational Practices. They need greater knowledge transfer effectiveness, wherein capturing and sharing lessons and insights happen; more rigorous use of risk management for its competency helps organizations assess and identify project risks, mitigate threats and capitalize on opportunities
I’ve performed a financial analysis for a project using the format provided in the book(IT Project Management, Revised 6e). Assume that the projected costs and benefits for this project are spread over four years as follows: Estimated costs are $200,000 in Year 1 and $30,000 each year in Years 2, 3, and 4. Estimated benefits are $0 in Year 1 and $100,000 each year in Years 2, 3, and 4. Use a 9 percent discount rate, and round the discount factors to two decimal places.
