As the design complexity continues to increase, huge peak power has become an important concern. A widely used power management technique is to shut down unused operations. However, an unused operation cannot be shut down, unless all the operations involved in identifying the control/data flow of this operation have been scheduled before this operation. Therefore, operation scheduling has a significant impact on the potential of power management. Based on that observation, in this paper, we study the simultaneous application of operation scheduling and power management for peak power minimization. Our work includes the following two aspects. First, we propose an integer linear program to formally formulate the problem. Second, we propose a heuristic algorithm to solve the problem in polynomial time complexity. Compared with previous work, benchmark data show that our approach can significantly reduce the peak power.