Project Management For Operators Of Large Assets †Free Samples

Question: Discuss about the Project Management For Operators Of Large Assets. Answer: Introduction Project management is considered as the aspect in which the set of objectives has been maintained properly in order to achieve a certain goal. In order to manage a particular project, it needs a project manager. Turner (2014) said that, the responsibility of the project manager is to take care of all the different aspects regarding the particular project that includes the different requirements for the project along with the safety and the security of the workers. The main aim of this particular study is to evaluate the importance of the project management aspect for the large projects. Along with that, the study also aims to satisfy the needs of the project. The study provides a brief description regarding the contract process in between the stakeholders. In addition to that, the study also detailed the expected budget for the entire project. Moreover, the study also summarizes the requirement for the safety along with the quality assurance for the particular project. Description of the project Boyne Smelters Limited is considered as the largest aluminium smelter in Australia. It is located in the south of Gladstone at Boyne Island on the coast of central Queensland. Along with that, it produces near about 570,000 tons of aluminium per year. Recently they have undertaken a project near the Boyne Island that aims to smelter near about 100 tons of aluminium per day. In order to complete, the project the organization needs a powerful support from their shareholders regarding the financial department. Along with that, the organization also needs to create a proper contract in between the stakeholders and the project management team. Both the parties need to settle their demands based on the contract. Justification of the project and the contract process As the project mainly aims to satisfy the extraction of the aluminium, therefore the project needs to be continued ion a smooth way. The recent percentage of aluminium extraction has been reduced in Australia due to some critical circumstances. Therefore, in order to enhance the amount of aluminium in the society, the project is very much justified. The different manufacturing industries are the main receiver of the aluminium as they mainly tend to create different aspects with the help of aluminium goods. The contract process needs to be fair and transparent. Both the stakeholders need to be aware of the different situations under the contract. Along with that, both the parties need to make sure that their needs do not get hamper, therefore they may do some negotiation in between them. Financial aspects of the project In order to complete the entire project, the project management team of Boyne Smelters Limited needs to make sure one thing that they should have an ample amount of funds in their hand. The proper funding mainly comes from the shareholders. Therefore, Burke (2013) said that, it is necessary for the project management team to make the shareholders understand the every aspect of the project along with the importance of the same. Moreover, the shareholders also need to understand the advantage of this particular project. The entire project is expected to provide a net profit of near about $2 million. Based on that particular assumption the shareholders need to invest in this particular project. Identification of the different project conditions The project management team needs to take certain conditions into their account that may help them to get the project completed in a successful manner. These conditions could be the assumption of the certain factors. One of them is that the project management team would assume that the weather would not be a barrier to the successful completion of the project. Along with that, they also assume that the shareholders would provide an ample amount of money that would be helpful for the project. In order to complete the entire project, the Boyne Smelters Limited needs to select a proper team who can handle the different critical situations that may arise during the project period. The project management team needs to be experienced enough so that they can mitigate the different challenges of the project. First, the organization needs to decide a proper structure of the project management team. The CEO of the organization should be at the top of the chart and hold the entire responsibility of the project. Under the CEO, some of the board members need to be adopted in order to take care of the project. Under them the experienced project management team would work. In order to carry out the entire project, there are certain processes that the organization needs to follow. First, they need to make the people understand about proper objective of the project and have to motivate the workers in order to work positively towards the successful completion of the project (Schwalbe, 2015). After that, the project management team needs to identify the different resources that would be required in order to complete the project. Estimated budget for the tender Walker (2015) said that, the estimated cost of a project can be divided in two segments. One of them is the tangible cost that can be seen. On the other hand, an intangible cost, that could not be seen. The cost regarding the machineries along with the labor wages is considered as the tangible cost. Along with that, the cost of the time management is considered as the intangible cost. Particulars Amount Material cost $1,50,000 Land $2,50,000 Labor cost $1,75,000 Time management cost $75,000 Equipments cost $2,25,000 Tax $60,000 Infrastructure cost $3,00,000 Overhead cost $1,20,000 External cost $1,10,000 Cost regarding weather $15,000 Total $14,80,000 Table 1: Estimated budget for the project (Source: Created by self) Requirement for the project changes The changes regarding the project mainly signify the changes regarding the skilled labors and the management people. Therefore, the management needs to set up a proper backup for the employees. The management needs to provide a proper training to their labors so that they can replace the people who left out from the project. Along with that, the change in the weather is also considered as one of the major changes that may appear during the project (Heagney, 2016). Therefore, the organization needs to use some alternative method that may reduce the life risk of the labors. In addition to that, the technology that the organization use may get backdated as the technology is upgrading day by day. Therefore, Boyne Smelters Limited needs to use the updated set of technologies in order to complete their mining project successfully. Requirement for the quality control In order to conduct the project, Boyne Smelters Limited needs to assure the quality requirements for the project. The quality of the project can be defined in terms of technology that would be used for this project. The main thing that the organization takes into account is the safety and security of the labors. The labors need to be provided with proper equipments that can help them to proper functioning. Along with that, the labors need to maintain a proper time management process that can enhance their performance and make them disciplined. The proper management of time also enhances the quality of the project and tends to complete the project within the deadline. Requirement for the document management Mir and Pinnington (2014) said that, the proper document management is necessary for the large size projects. The documents mainly consist of the proper agreement in between the two entities. The agreement also includes some sort of negotiation regarding the cost of the different factors. Therefore, the project management team needs to assign a person who can handle the different aspects of the documents. Moreover, the budget of the organization also comes under the documentation of the project. The project management team needs to make sure one thing that the project should be completed within the given deadline; otherwise it may be costlier for the organization. Requirements for the disputes The project is prone to have some sort of disputes regarding the equipments and the other different factors. Boyne Smelters Limited needs to make sure that the disputed condition should not arise during the project period. In order to mitigate the disputed issues, the organization first needs to identify the issues. One of the major issues could be the change in the government rules and regulations (Hwang and Ng, 2013). Then the organization needs to cope up with the new set of regulations. Along with that, the use of technology needs to be changed if the recent technology upgrades. Requirements for the safety Safety needs is the main thing that the organization needs to take into consideration. Boyne Smelters Limited should provide their labors an ample amount of safety equipments in order to make their life risk free. The organization needs to provide their employees a helmet, sticks along with the torches. This equipment helps the labors to reduce their life risk. Along with that, the Boyne Smelters Limited needs to provide each employee with a GPS locator, which enables the organization to locat, every employee beneath the ground (Pemsel and Wiewiora, 2013). Conclusion After summing up the entire study, it can be seen that there are ample amount of aspects that the project management team needs to take into their account. The study also concludes the importance of the proper tender that can help a large-scale project to be successfully completed. Along with that, the study also defines the importance of the estimated budgeting that can derive the percentage of success regarding the project. In addition to that, it also detailed the different safety factors along with their importance to the project management. Therefore, it can be said that the project management team needs to be very careful before taking a project into their consideration and the tender process needs to be done in a smooth way. References Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Heagney, J., 2016.Fundamentals of project management. AMACOM Div American Mgmt Assn. Hwang, B.G. and Ng, W.J., 2013. Project management knowledge and skills for green construction: Overcoming challenges.International Journal of Project Management,31(2), pp.272-284. Kerzner, H., 2013.Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success.International Journal of Project Management,32(2), pp.202-217. Pemsel, S. and Wiewiora, A., 2013. Project management office a knowledge broker in project-based organisations.International Journal of Project Management,31(1), pp.31-42. Schwalbe, K., 2015.Information technology project management. Cengage Learning. Turner, J.R., 2014.The handbook of project-based management(Vol. 92). New York, NY: McGraw-hill. Walker, A., 2015.Project management in construction. John Wiley Sons.