Many of the critical success factors of the integration phase are so called soft factors compare the soft s. Completing the project planning phase successfully. This is a concepts document to assist in the planning and management of merger or acquisition implementation projects. Project management process phase 2 planning develop. Preparing to capture mergers and acquisitions operational. A successful planning phase is almost invisible after the fact, as the project team proceeds to work according to the schedule, budget and other plans that the project manager has developed. A companys top managers meet to decide on a potential merger with one of its competitors. This phase requires study and analysis culminating in the full project management plan and that may lead to system development activities. You may also need to plan your communications and procurement activities, as well as contract any 3rd party suppliers.
Once project charter is approved, the project is formally initiated. From a project management perspective, the detailed step list will be a critical tool for the implementation phase of the project, particularly when it has been. Often this phase decides if the merger becomes a success or failure. Just as any of the other project management processes initiation, planning. Postmerger integration and obtaining the synergies. This stage involved merger project planning, strategic planning and. The first step is to assess your own situation and determine if a merger and acquisition strategy should be. If poor planning has led to failed projects from large to small, then perhaps trillions of dollars have been lost, sessions 2009. Postacquisition integration handbook l l 8 l baker mckenzie experience has taught us that the key to developing an effective postacquisition integration plan, implementing it successfully, and overcoming the inevitable challenges, is the early identification of the overriding strategic and business. A project planning enables project manager to translate project requirement into work breakdown structure wbs, tasks list, gantt charts, resource assignment and risk register, etc. Previous topic previous slide next slide next topic. Development of a project management methodology for. Implementing the project plan as indicated in the figure on the left directing and management of project execution will often occur many times during the project and therefore is. Project planning is the process of quantifying the amount of time and the size of the budget for a project.
Pdf mergers and acquisitions from the perspective of project. Pmi first began offering the project management professional pmp certification. For a more enjoyable learning experience, we recommend that you study the mobilefriendly republished version of this course. Merger implementation steps and issues a concept document 2. In the planning phase, various planning activities will be conducted, which includes the planning of work, schedule, budget, resources, staffing need, and etc. Phase in a waterfall project life cycle where the completed results are compared to the planned results to ensure that the projects objectives will be achieved. The planning phase establishing control mechanisms. Framework for project management project management. In the aftermath of a merger, existing teams may be changed considerably, and or. This project plan template will help you to quickly and easily create a project plan for your project. Sales engineerpmpmoppm consultant with a great depth of experience and expertise in enterprise project management, project management methodologies, project portfolio management ppm, project management. Acquisition planning the planning phase for an information technology project technically begins during the initiation phase of the project management life cycle, when consideration is given to overall scope, budget and schedule. Acquisition activities are performed, if necessary, to obtain contractor support. The execution phase is the longest phase of the project management lifecycle and is when the project team develops the product or service and presents the final product to the customer.
This means a large project is broken down into more manageable stages, each with a specific deliverable, and done in a specific sequence. Group 4 bph 26th batch maharajgunj medical campus institute of medicine, tu kathmandu, nepal assignment subject. Planning phase acqusition phase integration phase time of the merger contract the post merger integration phase covers the operational part of the merger project. The importance of the planning phase to project success. Project management process phase 2 planning gather project requirements john f. Managing procurement is about acquisition and contracting plans, sellers. The project startup phase on complex projects can be chaotic, and until plans are.
This consistency is important for setting priorities, balancing. The initiation phase is the first phase in the project. When designing a project, 90% of the work should go into project planning and development and only 10% in the writing of the application. Pdf planning phase in construction project management. N ow the project scope document is developed, enhanced, and refined, until it forms a definitive plan for the rest of the project. Ict project management office during project execution. Project initiation is the first phase of a project s life cycle. Time spent on planning activities will reduce risk and increase project success, cleland and ireland 2008. Businesses initiate projects to create new products, make changes or implement process enhancements.
Use infotechs merger and acquisition project planning and monitoring tool to ensure that it is prepared for two organizations to begin operating as a combined entity. However, does the research affirm its impact and give guidance as to how much effort should be spent planning. A stakeholder advisory committee sac was formed to help guide pdot and the design team in the preplanning effort and they continued their role in the planning phase. For previous revision history information, archived versions of this document are maintained by the. Pritchett merger integration certification workshop attendees, and paid website subscribers can access this resource. Acquisition activities are performed, if necessary, to obtain. Post merger integration plan acquisition integration. Use our research to develop an hr plan to effectively manage the merger or acquisition process including upfront work, communication, cultural integration, workforce planning, and terms and conditions planning.
The planning phase focuses principally on required project planning work. It is at this point where the opportunity or reason for the project is identified and a project is developed to take advantage of that opportunity. The planning phase begins when the project has been formally approved and funded, and the project charter is approved. Project managers must carry a vast skill set along with excellent communication. A schedule network analysis technique that modifies the project schedule to. Identify and kick off a crossfunctional project team to define the detailed scope and requirements for the project. Detailed planning builds upon the work performed during project origination and initiation. Alan lakein roli pathak introduced the 5 phases of project management in her article top 5 project management phases. The output of the project planning process is a project plan that a project manager can use to track the project teams progress. Inadequate planning will lead to a failed project, morris 1998, thomas et al 2008. What drives the need for companies to consider mergers and acquisitions. By executing the work packages as per the defined schedule, the project team produces the deliverables of the project.
The define and design stage of project management will be where the project goals. Although preliminary activity definition begins in the concept development phase, this definition is further refined during the planning phase to ensure that all activities are defined in detail. The project management office pmo must also provide templates for functional deliverables including status updates to manage consistent efforts across functional teams. In short, you need to create a comprehensive suite of project plans which set out. They can also access all the presentations, playbooks, books, articles, checklists, software, assessments, webinars, research, tools, and templates on. For the complete set of project management templates. Pdf brief presentation about the role of the planning stage in the project life.
Give your merger or acquisition the best chance for success by thoroughly managing the process from due diligence well into the first year postdeal. Mistakes in the planning phase, on the other hand, tend to be highly visible, and can damage the pms reputation. The planning team creates a more detailed wbs, develops an initial baseline project schedule and describes the proposed process for how the baseline. The people who are in charge of managing these projects are called project managers. During the initiation phase, the project should consult with the osi procurement center for preliminary guidance and.
Integration handbook 2017 postacquisition integration. Develop an hr plan to effectively manage the merger or. How to map out a project when people think of project planning, their minds tend to jump immediately to schedulingbut you wont even get to that part until the buildup phase. Acquirers should follow a proven post merger integration planning methodology playbook to define the integration steps and activities so that. Tangible things that the project produces milestones.
Closing phase in the waterfall project life cycle in which all outstanding contractual or other administrative issues are completed and documented in preparation for turning over the. The integration planning and implementation project is where the structural and cultural merger takes place. This training course in the fundamentals of project management introduces core skills and tools used in effective it project lifecycle management. Tasks in the five phases of project management your business.
Phase 1 of the contracting process is planning for procurement. Steve mcconnell, author of several software development books, identified nine deadly sins of project planning. You can use it to create your own customized project management plan for delivering your project on time and under budget if you want to create a project plan for your project within a few easy steps, then this project plan template will tell you how to do it. For a major acquisition, participants normally include. The top row of this table shows the most recent changes to this controlled document. The planning phase and project success a literature.
Critical path scheduling is a simple technique to achieve this, there are many software tools to support it. Although planning should be an ongoing concern during your projects life, there comes a time when you have to move on from the project planning phase and actually get to the meat of the project. It is during this phase of the project that a team is assembled, and a business case is created to define the project in detail. The purpose of the preplanning phase was to reach agreement on what topics should be addressed and what the process should be to guide the planning effort.
Postacquisition integration handbook baker mckenzie. This training is different than application development training, as it does not focus on how to. The project planning phase is often the most challenging phase for a project manager, as you need to make an educated guess of the staff, resources and equipment needed to complete your project. Project managers may choose to combine one or more of the above phases.
Project management is sometimes done in phases in order to improve control and quality. What project management software if any should we use. Acquisition planning is the process of identifying and describing requirements and determining the best method for meeting those requirements. Project planning planning is the stage that comes after the initiation stage and before execution and control. Planning is bringing the future into the present so that you can do something about it now. The planning phase is the third phase of the it project management lifecycle. Why the reading materials are not available as a pdf. They discuss various aspects of the merger, such as business valuations and conducting due diligence.778 274 1506 1008 1362 651 766 1589 416 843 174 1500 570 1128 775 1249 1560 330 1504 824 1139 1235 90 1115 732 677 730 346 990 453