Project Budget, Schedule And Resource Planning For Western Australia Site Tank Repairs And Modifications

Project Budget Estimation

As per the requirements of the project, the three petrol tanks at the Western Australia site have to be repaired and modified to reach the modern standards as well as stop affecting the nearby environment negatively. In order to do this, the organization has proposed a new project to be executed for the works on the tanks.

In this report, a basic plan for the project including budget, schedule and resources has been developed with the most accurate estimations.

Overall Budget Estimation

Task Name	Duration Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	Cost
Repairing of Storage Tanks at Western Australia Site	132 days	$1,394,380.00
Project Survey and Initiation	22 days	$95,600.00
Undertake Survey at the Site	3 days	$8,400.00
Inspect Tank 1	2 days	$5,600.00
Take Notes on Repair Requirements	1 day	$2,800.00
Inspect Tank 2	2 days	$5,600.00
Take Notes on Repair Requirements	1 day	$2,800.00
Inspect Tank 3	2 days	$5,600.00
Take Notes on Repair Requirements	1 day	$2,800.00
Prepare Survey Report	3 days	$3,600.00
Submit the Report for Analysis	1 day	$1,200.00
Call Board Meeting	1 day	$1,600.00
Discuss the Tank Issues	1 day	$5,000.00
Discuss Other Issues Related to the Tanks	1 day	$5,000.00
Reach a Suitable Solution	1 day	$5,000.00
Agree on a Project for Repair and Upgrade of the Tanks	1 day	$5,000.00
Analyze the Feasibility of the Project	2 days	$10,000.00
Analyze the Constraints of the Project	2 days	$10,000.00
Prepare Project Proposal	5 days	$13,000.00
Submit Proposal	1 day	$2,600.00
Receive Approval for Project	0 days	$0.00
Project Planning	29 days	$47,960.00
Develop a Detailed Project Plan	5 days	$8,000.00
Develop Project Charter	2 days	$3,200.00
Develop Scope of Project	1 day	$1,600.00
Develop the Budget and Schedule of the Project	2 days	$5,200.00
Determine Risks Associated with the Project	5 days	$6,000.00
Develop Risk Management Plan	2 days	$2,400.00
Prepare Quality Management Plan	2 days	$2,400.00
Release Tender for Project Contract	2 days	$1,600.00
Conduct Bidding Session	1 day	$800.00
Select a Contractor for Project Work	2 days	$3,200.00
Discuss the Project with the Contractor	2 days	$7,840.00
Sign Contract	1 day	$2,520.00
Hand Over Project Duty to Contractor	2 days	$3,200.00
Provide Approval to Contractor	0 days	$0.00
Project Execution	70 days	$1,230,820.00
Hire Workers for On Site Work	5 days	$4,600.00
Hire Construction Vehicles	2 days	$11,600.00
Procure Necessary Resources for the Project Work	6 days	$37,300.00
Proceed for Field Work of Project	1 day	$920.00
Repair on Tank 1	30 days	$247,600.00
Repair the Steel Patches	5 days	$124,600.00
Install Steel Anchors	5 days	$24,600.00
Repair Work on Entire Tank Including Top	10 days	$49,200.00
Cleaning of the Tank	5 days	$24,600.00
Repaint of the Tank	5 days	$24,600.00
Repair on Tank 2	39 days	$413,680.00
Repair the Steel Patches	5 days	$205,600.00
Install Steel Anchors	7 days	$42,840.00
Repair Work on Entire Tank Including Top	13 days	$79,560.00
Cleaning of the Tank	7 days	$42,840.00
Repaint of the Tank	7 days	$42,840.00
Repair on Tank 3	56 days	$515,120.00
Repair the Steel Patches	6 days	$189,120.00
Install Steel Anchors	10 days	$65,200.00
Replacement of Main Supply Valve	5 days	$32,600.00
Repair Work on Entire Tank Including Top	15 days	$97,800.00
Cleaning of the Tank	10 days	$65,200.00
Repaint of the Tank	10 days	$65,200.00
Project Hand Over	0 days	$0.00
Project Closing	11 days	$20,000.00
Review of Project Work	4 days	$11,200.00
Finish Payments to Contractor and Workers	2 days	$2,800.00
Documentation of Project	5 days	$6,000.00
Stakeholder Sign Off and Closing	0 days	$0.00

Assumptions

The assumptions that have been made while developing this schedule are as follows.

The determined costs for the materials are final and will not exceed the budget.
The usages for the salaries of the stakeholders are based on 8 working hours per day except Saturday and Sunday.
The stakeholders do not need to perform overtime during the entire course of the project.
The determined duration of the project is accurate.

Schedule

Task Name	Duration	Start	Finish
Repairing of Storage Tanks at Western Australia Site	132 days	Fri 21-09-18	Mon 25-03-19
Project Survey and Initiation	22 days	Fri 21-09-18	Mon 22-10-18
Undertake Survey at the Site	3 days	Fri 21-09-18	Tue 25-09-18
Inspect Tank 1	2 days	Wed 26-09-18	Thu 27-09-18
Take Notes on Repair Requirements	1 day	Fri 28-09-18	Fri 28-09-18
Inspect Tank 2	2 days	Wed 26-09-18	Thu 27-09-18
Take Notes on Repair Requirements	1 day	Fri 28-09-18	Fri 28-09-18
Inspect Tank 3	2 days	Wed 26-09-18	Thu 27-09-18
Take Notes on Repair Requirements	1 day	Fri 28-09-18	Fri 28-09-18
Prepare Survey Report	3 days	Mon 01-10-18	Wed 03-10-18
Submit the Report for Analysis	1 day	Thu 04-10-18	Thu 04-10-18
Call Board Meeting	1 day	Fri 05-10-18	Fri 05-10-18
Discuss the Tank Issues	1 day	Mon 08-10-18	Mon 08-10-18
Discuss Other Issues Related to the Tanks	1 day	Mon 08-10-18	Mon 08-10-18
Reach a Suitable Solution	1 day	Mon 08-10-18	Mon 08-10-18
Agree on a Project for Repair and Upgrade of the Tanks	1 day	Mon 08-10-18	Mon 08-10-18
Analyze the Feasibility of the Project	2 days	Tue 09-10-18	Wed 10-10-18
Analyze the Constraints of the Project	2 days	Thu 11-10-18	Fri 12-10-18
Prepare Project Proposal	5 days	Mon 15-10-18	Fri 19-10-18
Submit Proposal	1 day	Mon 22-10-18	Mon 22-10-18
KEY MILESTONE 1: Receive Approval for Project	0 days	Mon 22-10-18	Mon 22-10-18
Project Planning	29 days	Tue 23-10-18	Fri 30-11-18
Develop a Detailed Project Plan	5 days	Tue 23-10-18	Mon 29-10-18
Develop Project Charter	2 days	Tue 30-10-18	Wed 31-10-18
Develop Scope of Project	1 day	Thu 01-11-18	Thu 01-11-18
Develop the Budget and Schedule of the Project	2 days	Fri 02-11-18	Mon 05-11-18
Determine Risks Associated with the Project	5 days	Tue 06-11-18	Mon 12-11-18
Develop Risk Management Plan	2 days	Tue 13-11-18	Wed 14-11-18
Prepare Quality Management Plan	2 days	Thu 15-11-18	Fri 16-11-18
Release Tender for Project Contract	2 days	Mon 19-11-18	Tue 20-11-18
Conduct Bidding Session	1 day	Wed 21-11-18	Wed 21-11-18
Select a Contractor for Project Work	2 days	Thu 22-11-18	Fri 23-11-18
Discuss the Project with the Contractor	2 days	Mon 26-11-18	Tue 27-11-18
Sign Contract	1 day	Wed 28-11-18	Wed 28-11-18
Hand Over Project Duty to Contractor	2 days	Thu 29-11-18	Fri 30-11-18
KEY MILESTONE 2: Provide Approval to Contractor	0 days	Fri 30-11-18	Fri 30-11-18
Project Execution	70 days	Mon 03-12-18	Fri 08-03-19
Hire Workers for On Site Work	5 days	Mon 03-12-18	Fri 07-12-18
Hire Construction Vehicles	2 days	Mon 10-12-18	Tue 11-12-18
Procure Necessary Resources for the Project Work	6 days	Wed 12-12-18	Wed 19-12-18
Proceed for Field Work of Project	1 day	Thu 20-12-18	Thu 20-12-18
Repair on Tank 1	30 days	Fri 21-12-18	Thu 31-01-19
Repair the Steel Patches	5 days	Fri 21-12-18	Thu 27-12-18
Install Steel Anchors	5 days	Fri 28-12-18	Thu 03-01-19
Repair Work on Entire Tank Including Top	10 days	Fri 04-01-19	Thu 17-01-19
Cleaning of the Tank	5 days	Fri 18-01-19	Thu 24-01-19
Repaint of the Tank	5 days	Fri 25-01-19	Thu 31-01-19
Repair on Tank 2	39 days	Fri 21-12-18	Wed 13-02-19
Repair the Steel Patches	5 days	Fri 21-12-18	Thu 27-12-18
Install Steel Anchors	7 days	Fri 28-12-18	Mon 07-01-19
Repair Work on Entire Tank Including Top	13 days	Tue 08-01-19	Thu 24-01-19
Cleaning of the Tank	7 days	Fri 25-01-19	Mon 04-02-19
Repaint of the Tank	7 days	Tue 05-02-19	Wed 13-02-19
Repair on Tank 3	56 days	Fri 21-12-18	Fri 08-03-19
Repair the Steel Patches	6 days	Fri 21-12-18	Fri 28-12-18
Install Steel Anchors	10 days	Mon 31-12-18	Fri 11-01-19
Replacement of Main Supply Valve	5 days	Mon 14-01-19	Fri 18-01-19
Repair Work on Entire Tank Including Top	15 days	Mon 21-01-19	Fri 08-02-19
Cleaning of the Tank	10 days	Mon 11-02-19	Fri 22-02-19
Repaint of the Tank	10 days	Mon 25-02-19	Fri 08-03-19
KEY MILESTONE 3: Project Hand Over	0 days	Fri 08-03-19	Fri 08-03-19
Project Closing	11 days	Mon 11-03-19	Mon 25-03-19
Review of Project Work	4 days	Mon 11-03-19	Thu 14-03-19
Finish Payments to Contractor and Workers	2 days	Fri 15-03-19	Mon 18-03-19
Documentation of Project	5 days	Tue 19-03-19	Mon 25-03-19
KEY MILESTONE 4: Stakeholder Sign Off and Closing	0 days	Mon 25-03-19	Mon 25-03-19

Tools and Techniques Used

For the estimation of the schedule, the primary tool used is the work breakdown structure and the Microsoft Project software. These tools have been chosen because they provide accurate results when the activities, deliverables and milestones are determined and entered accurately. Moreover, with the help of these tools, the deliverables can be such managed that relevant resources can be added thus also assisting in the budget estimation process.

There are some other techniques like manual calculation of schedule, PERT chart method, CPM (Critical Path Method) and others that can also be used for scheduling. However, these techniques have many drawbacks and hence, they have not been selected.

Comparison of Tools and Methodologies

The comparison of the tools and methodologies are as follows.

WBS Method

Other Methods (PERT, CPM, Manual)

Merit

Easy to determine and accurate, calculate, arrange the work packages sequentially, simple in nature

Both PERT and CPM are detailed methods of scheduling tools and take into consideration a large number of additional factors than WBS

Manual process follows an evaluative approach and the exceptional cases and drawbacks can be considered and adjusted while preparing the schedule

Demerit

For complex projects, it sometimes becomes too simple in nature

PERT and CPM are way too complex and are not suitable for projects with limited scope and scale

Manual process is error prone and consumes huge amount of time

Resources Required

Resource Name	Type	Initials	Group	Max. Units	Std. Rate
Project Manager	Work	P		100%	$200.00/hr
Project Finance Manager	Work	P		100%	$175.00/hr
Project Site Supervisor	Work	P		100%	$150.00/hr
Project Contractor	Work	P		100%	$115.00/hr
Procurement Manager	Work	P		100%	$100.00/hr
Worker Group 1	Work	W		100%	$500.00/hr
Worker Group 2	Work	W		100%	$650.00/hr
Worker Group 3	Work	W		100%	$700.00/hr
Construction Vehicles	Material	C			$10,000.00
Repair Equipments and Tools	Material	R			$7,500.00
Steel Patch	Material	S			$25,000.00
Other Materials	Material	O			$25,000.00

Critical Path and Stress Points for Resources

After the resources are integrated with the schedule and considering the stress points, the following diagram has been developed. In the diagram, the critical path is marked in red in the Gantt chart and in the stress points for resources, the left side of the work packages have been marked with a red humanoid shape.

Tools and Techniques Used

In order to develop the critical path and stress points, Microsoft Project software tool has been used in which, the work packages, deliverables and milestones have been entered along with the resources and their costs. The tool automatically calculated the budget and the stress points after these resources were allocated to each work package.

This technique is also called bottom up estimation technique. However, another technique that could have been used is top down estimation technique. This has not been chosen because it does not provide accurate results for large scale projects that have a large number of work packages with complex predecessor relationships among them.

Conclusion

Based on the overall estimations, the project will require 132 working days for completion if there are no delays in between. Moreover, a budget of $1,395,000 have also been determined, within which, the project has to be completed (although some buffer budget will be available in case of urgent additional modifications or accidents.

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