As the design complexity continues to increase, huge peak power may lead to logic errors due to voltage drops or reliability problems due to electromigration. A widely used power management technique is to shut down unused operations. However, to enable the power management of an operation, the corresponding control operations must be scheduled before this operation. In this paper, we present an ILP (integer linear programming) formulation to model the simultaneous application of operation scheduling and power management for peak power minimization. Benchmark data show that our approach achieves the minimum peak power within an acceptable run time.