Chapter 4, Project Integration Management

  1. The “2015 Pulse of the Profession: Capturing the Value of Project Management” report mentioned the Pulse study focused in culture, talent, and process as a fundamental part in the excellence of project, program, and portfolio management. Culture was the most effective organization to recognize the need for formal project management in their “change the business” initiatives. This was also a high-performing organization to fully understand the value of project management and are creating a project management mindset. Talent was defined to be a high-performing organization that is significantly more likely to focus on talent management, establishing ongoing training and formal, effective knowledge transfer. This enhance the technical skills, leadership, strategic and business management capabilities which makes this important in project management. Process as a high-performing organization support in project, program, and portfolio management though standardized practices and by aligning projects and programs to the organization’s strategy. Many pulse study was conducted and finds how well the organization’s delivery on their strategic initiatives have remained unchanged. This suggest the organization to visit again the project management fundamentals and go back to basics. Those basics include: Fully understand the value of project management Having actively engaged executive sponsors Aligning projects to strategy Developing and maintaining project management talent Establishing a well-aligned and effective PMO Using standardized project management practices throughout the organization Organizations with mature benefits realization processes can benefit from: Clearly identifying the strategic rewards prior to standing a project Effectively assessing and monitoring risks to project success Proactively planning for making necessary changes in the organization Explicitly defining accountability for project success Routinely extending responsibility for integration to the project team

2. Perform a financial analysis for a project using the format provided in the book (IT Project Management, Revised ). 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. Create a spreadsheet or use the business case financials template on the companion Web site to calculate and clearly display the NPV, ROI, and year in which payback occurs. In addition, write a paragraph explaining whether you would recommend investing in this project, based on your financial analysis.

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