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IMPORTANT NOTICE TO CURRENT IT PROJECTS:  
All current IT projects are required to use PPM v2.0 as of February 1, 2014.

The Department of Housing and Urban Development's (HUD's) Project Planning and Management (PPM) Life Cycle V2.0 provides practical approaches to optimize innovation, minimize schedule and budget risk, and better plan and execute projects. PPM V2.0 incorporates many principles from the Project Management Body of Knowledge (PMBOK®), a best practices project management methodology which presents a set of standard terminology and guidelines for managing projects.

The PPM V2.0 approach is scalable and flexible and can be used on all types of projects. It provides the context for the HUD IT governance process and describes the interdependencies among its project management, investment management and enterprise architecture components. The intent of the guidance is to provide a general framework for project planning and project management that will most effectively serve our organization.
The PPM V1.0 consists of seven phases: Need Concept; Definition; Design; Execution of Solution; Deployment; Operate and Maintain; and Decommission. PPM V2.0 streamlines this process into four phases: Initiation, Planning, Execution and Control and Close Out.