It is important to select a project based on its need for the organizational, the available funds for the project and also a strong will to make the project succeed. Another important consideration is whether the project provides response to a problem, opportunity or directive. Next, financial analysis including Net Present Value (NPV) analysis, Return on Investment (ROI) and payback analysis also needs to be performed as an important aspect too. Processes involved in Project Integration Management comprise of 7 phases. A project charter needs to be prepared and signed by the stakeholders as recognition for a project to be started and also to give information to the rest of the organization. Next, a scope statement should be developed as a direction for the project and it is best to have a preliminary scope first and more detailed scope statement is developed as the project progresses. Third process is to prepare a Project Management Plan (PMP) which includes all the coordinated plans. In PMP, there is a stakeholder analysis which is helpful in recognizing the stakeholders and approaches on how to manage relationships with them. After recognizing the work described in PMP, here comes the project execution where the products are being produced.
As mentioned before, this is the part where a project manager needs to have strong skills and to make full use of the tools and techniques for project execution to keep on the right track. Next process as usual after project execution, monitoring and controlling process came in to produce corrective and preventive actions. After that, an integrated change control is performed to properly manage actual changes as they occur. A change control system is a documented process that describes how a work may changes and to assign person responsible to make changes. But before that the role of Change Control Board need not to be denied as they have the authority to approve or reject changes for project. At the end of the project, all activities must be finalized and it is expected for the project to produce the final outputs.
