Oil Tanker Repairing For Multinational Oil And Gas Company

Development of appropriate project budget

The report is prepared for a multinational oil and gas company that have the requirement of repair their oil storage tankers for reducing the wastage of the unleaded petroleum. The report consists of the estimation of the budget for the completion of the repair work and preparation of the project schedule for the involvement of the resources and identification of the activity for the development of the project. The project manager is responsible for the analyzing the resources required for the completion of the project and include it in the project schedule for increasing the efficiency of the project.

The operation required to be performed for the repairing of the oil tankers of the multinational oil and Gas Company is analyzed for the development of the project budget. The project management cost estimation technique is used for the estimation of the budget and it is tabulated in the following table:

Task Name	Resource Names	Cost Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper
Requirement analysis of the project	Project Surveyor	$2,200.00
Creation of the project charter document	System Planner	$840.00
Submission of the tender	System Planner	$560.00
Approval from the government	Government	$0.00
Analyzing the requirement of the project	Project Surveyor	$3,080.00
Analysis of the resources required for development	Project Manager	$6,720.00
Development of the project planning and operation	System Planner	$1,680.00
Project plan review	Project Manager	$2,400.00
Cleaning of the oil tanker	Contractor	$2,000.00
Creation of the layout and identification of the weak parts	Contractor	$4,800.00
Implementation of the operation and project plan	System Planner	$1,960.00
Construction of the boundary for the tanker	Employees	$4,800.00
Development of the boundary wall	Employees	$4,800.00
Tanker specification and analysis	Project Surveyor	$3,080.00
Analysis of the bottom layer	Employees	$1,600.00
Attaching the tank plates	Technical Staffs	$2,640.00
Installing the shell plates	Technical Staffs	$2,200.00
Preparation of the drainage system	Employees	$2,560.00
C3 coating on the tanker	Project Supervisor	$3,600.00
Installation of tinkles on the tank	Project Supervisor	$2,800.00
Development of the platform	Employees	$3,840.00
Connecting the pipelines	Contractor	$3,200.00
Connecting the passage with the oil tankers	Employees	$3,200.00
Installation of the fire and safety equipment	Technical Staffs	$5,280.00
Tank operation functional testing	Project Supervisor	$2,000.00
Approval from the managers	Project Manager	$2,400.00
Approval from the government	Government	$0.00
Usability testing of the tankers	Technical Staffs	$2,200.00
Project closure	Project Manager	$480.00

Table 1: Cost Estimation of the project

(Source: Created by author)

For the development of the project schedule and the budget of the project it is assumed that all the task would be completed within the time allocated for the completion of the activity. The project manager have efficient skills and knowledge for monitoring the activities of the project and remove all constrains raised during the development of the project. The resources allocated to the activity of would be available during the project development period and they are flexible to do overtime. It is also assumed that a risk management plan is created and areas of risk are analyzed for the preparation of the contingency plan and it is followed during the development of the project.

Resource Name	Type	Initials	Std. Rate
Architect	Work	A	$60.00/hr
Contractor	Work	C	$50.00/hr
Project Engineer	Work	P	$60.00/hr
Government	Work	G	$0.00/hr
System Planner	Work	S	$35.00/hr
Project Manager	Work	PM	$60.00/hr
Project Supervisor	Work	P	$50.00/hr
Project Surveyor	Work	P	$55.00/hr
Technical Staffs	Work	T	$55.00/hr
Employees	Work	E	$40.00/hr

Table 2: Resource Sheet of the project

(Source: Created by author)

Different project management tools can be used for the development of the project schedule, here Microsoft project has been used and helps the project manager to include all the activity and add milestone required for the completion of the repairing job of the oil tankers.

WBS	Task Name	Duration	Start	Finish
0	Repairing of oil tanker and improve the storage facility	219 days	Start	Finish
1	Project initialization	14 days	Wed 02-08-17	Mon 04-06-18
1.1	Requirement analysis of the project	5 days	Wed 02-08-17	Mon 21-08-17
1.2	Creation of the project charter document	3 days	Wed 02-08-17	Tue 08-08-17
1.3	Submission of the tender	2 days	Wed 09-08-17	Fri 11-08-17
1.4	Approval from the government	4 days	Mon 14-08-17	Tue 15-08-17
2	Project planning	32 days	Wed 16-08-17	Mon 21-08-17
2.1	Analyzing the requirement of the project	7 days	Tue 22-08-17	Wed 04-10-17
2.2	Analysis of the resources required for development	14 days	Tue 22-08-17	Wed 30-08-17
2.3	Development of the project planning and operation	6 days	Thu 31-08-17	Tue 19-09-17
2.4	Project plan review	5 days	Wed 20-09-17	Wed 27-09-17
3	Preparation of the site and workplace	54 days	Thu 28-09-17	Wed 04-10-17
3.1	Cleaning of the oil tanker	5 days	Thu 05-10-17	Tue 19-12-17
3.2	Creation of the layout and identification of the weak parts	12 days	Thu 05-10-17	Wed 11-10-17
3.3	Implementation of the operation and project plan	7 days	Thu 12-10-17	Fri 27-10-17
3.4	Construction of the boundary for the tanker	15 days	Mon 30-10-17	Tue 07-11-17
3.5	Development of the boundary wall	15 days	Wed 08-11-17	Tue 28-11-17
4	Repairing of the oil tankers	89 days	Wed 29-11-17	Tue 19-12-17
4.1	Tanker specification and analysis	7 days	Wed 20-12-17	Mon 23-04-18
4.2	Analysis of the bottom layer	5 days	Wed 20-12-17	Thu 28-12-17
4.3	Attaching the tank plates	6 days	Fri 29-12-17	Thu 04-01-18
4.4	Installing the shell plates	5 days	Fri 05-01-18	Fri 12-01-18
4.5	Preparation of the drainage system	8 days	Mon 15-01-18	Fri 19-01-18
4.6	C3 coating on the tanker	9 days	Mon 22-01-18	Wed 31-01-18
4.7	Installation of tinkles on the tank	7 days	Thu 01-02-18	Tue 13-02-18
4.8	Development of the platform	12 days	Wed 14-02-18	Thu 22-02-18
4.9	Connecting the pipelines	8 days	Fri 23-02-18	Mon 12-03-18
4.10	Connecting the passage with the oil tankers	10 days	Tue 13-03-18	Thu 22-03-18
4.11	Installation of the fire and safety equipment	12 days	Fri 23-03-18	Thu 05-04-18
5	Closing the Project	30 days	Fri 06-04-18	Mon 23-04-18
5.1	Tank operation functional testing	5 days	Tue 24-04-18	Mon 04-06-18
5.2	Approval from the managers	5 days	Tue 24-04-18	Mon 30-04-18
5.3	Approval from the government	14 days	Tue 01-05-18	Mon 07-05-18
5.4	Usability testing of the tankers	5 days	Tue 08-05-18	Fri 25-05-18
5.5	Project closure	1 day	Mon 28-05-18	Fri 01-06-18

Table 3: Project schedule for the refurbishment of the oil tanker

(Source: Created by author)

The project management life cycle is integrated in the project development for increasing the efficiency of the project and develop it according the requirement of the organization. It also accelerates the project management process by creating a structure and develop the project according to it. It also helps the project manager to monitor the progress of the project and resolve the errors immediately.

Task Name	Duration	Start	Finish
Creation of the project charter document	3 days	Wed 09-08-17	Fri 11-08-17
Submission of the tender	2 days	Mon 14-08-17	Tue 15-08-17
Approval from the government	4 days	Wed 16-08-17	Mon 21-08-17
Analysis of the resources required for development	14 days	Tue 22-08-17	Wed 30-08-17
Development of the project planning and operation	6 days	Thu 31-08-17	Tue 19-09-17
Project plan review	5 days	Wed 20-09-17	Wed 27-09-17
Cleaning of the oil tanker	5 days	Thu 28-09-17	Wed 04-10-17
Creation of the layout and identification of the weak parts	12 days	Thu 05-10-17	Wed 11-10-17
Implementation of the operation and project plan	7 days	Thu 12-10-17	Fri 27-10-17
Construction of the boundary for the tanker	15 days	Wed 08-11-17	Tue 28-11-17
Development of the boundary wall	15 days	Wed 29-11-17	Tue 19-12-17
Tanker specification and analysis	7 days	Wed 20-12-17	Thu 28-12-17
Analysis of the bottom layer	5 days	Fri 29-12-17	Thu 04-01-18
Attaching the tank plates	6 days	Fri 05-01-18	Fri 12-01-18
Installing the shell plates	5 days	Mon 15-01-18	Fri 19-01-18
Preparation of the drainage system	8 days	Mon 22-01-18	Wed 31-01-18
C3 coating on the tanker	9 days	Thu 01-02-18	Tue 13-02-18
Installation of tinkles on the tank	7 days	Wed 14-02-18	Thu 22-02-18
Development of the platform	12 days	Fri 23-02-18	Mon 12-03-18
Connecting the pipelines	8 days	Tue 13-03-18	Thu 22-03-18
Connecting the passage with the oil tankers	10 days	Fri 23-03-18	Thu 05-04-18
Installation of the fire and safety equipment	12 days	Fri 06-04-18	Mon 23-04-18
Tank operation functional testing	5 days	Tue 24-04-18	Mon 30-04-18
Approval from the managers	5 days	Tue 01-05-18	Mon 07-05-18
Approval from the government	14 days	Tue 08-05-18	Fri 25-05-18
Usability testing of the tankers	5 days	Mon 28-05-18	Fri 01-06-18

Table 4: Milestone of the repairing job

(Source: Created by author)

For the estimation of the resources required for the development of the project the case study is analyzed and a research is done on the task required to be done and the resource sheet is developed. The human resources and the materials required for the completion of the project are included for the estimation of the resource required for the completion of the project. A gantt chart and work break down structure is created for the estimation and shown below. The WBS helps to identify the critical path of the project and help to plan the project according to the requirement.

Resource Name	Work	Cost
Contractor	200 hrs	$10,000.00
Government	144 hrs	$0.00
System Planner	144 hrs	$5,040.00
Project Manager	200 hrs	$12,000.00
Project Supervisor	168 hrs	$8,400.00
Project Surveyor	152 hrs	$8,360.00
Technical Staffs	224 hrs	$12,320.00
Employees	520 hrs	$20,800.00

Table 5: Usage of the resources

(Source: Created by author)

Conclusion

From the above project it can be concluded that the success of the project depends on the proper estimation of the budget and creation of the project schedule. The project schedule is required to be created after analyzing the requirement of the project and identification of the resources required for the completion of each of the activity of the project. The effective and the smart development of the project is dependent on the project manager and the project manager should have good project management skills and knowledge for the development of the project and manage the activities.

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