Discuss about the Portfolio Management for Transformative Change and Technical Documentation.
The project management is an important art for the organization for the implementation of the new system .The significance of the good project management has been discussed in the context of the development of the parallel runway at the Brisbane airport. The proper management of the project can help to deliver the outcome that meets all the requirements of the clients. There are certain factors associates with the project management that are needed to be evaluated during the development of the project such as analysis and the management of the risks. The other procedures like the estimation of the cost and the procedures for the tenders are also described as the different learning outcome in this discussion.
- Learning outcome
- LO1: Terminology related to the project and portfolio management related to the organizations.
- Summery: The project is the set of processes that helps to reach the defined goals. The main objective of the project is to deliver the service that will meet all the requirements needed by the clients. The projects can be related to the construction, technological fields, railways , plants and mines. On the other hand the program is defined by the conduction of the series of the tasks in order to get the desired goal. Each program has the definite time for the compilation. Each project and the programs defines the clear over view to the project managers about the blueprint of the compilation of the project in a certain way that will help to deliver a sustainable result. The value management is another important factor related to the management of the project. The management of the value is concerned with the delivering of the service that will satisfy the need of the consumers and will provide them the value driven services. Portfolio management differs from the management of the project. The project management is concerned with the managing of the processes in the project on the other hand the portfolio management is concerned with the managing of the different projects of the diverse background. The main objective of the portfolio management is to manage the gap between the plan and the implementation.
- Evidence: The Brisbane airport has adopted the project and the program management for the implementation of the development of the parallel runway. There are certain sequences maintained in the making of the parallel run way such as- assessment and the research, planning and the decision making, implementation and outcome. The runway has been improvised using the toothpaste technique and certain objectives has been taken in order to improvise the quality of the runway.
- LO2: Introduction and significance of the project legitimization.
- Summery: In order to legitimize the project three factors has to be maintained- evaluation of the task, venture execution, advantages from the activities. Inn the task evaluation part scope of the project is being evaluated, in the planning phase the blueprint of the execution of the project is undertaken, in the advantages from the activity part the benefits from the projects can be evaluated. The goals of the project are concerned with the certain factors-explanation of the problem,determination of the conflicts,evaluation of the transformative change, technical documentation, risk administration and the customer administration. The airport authority has taken seven steps in order to mitigate the risks.
- Evidence: The Brisbane parallel runway project is making the significant progress. The initial stage of the development of the project is to assemble the requirements. The stages of the requirement gathering is concerned with the making of runway and the underpass. It is assumed that the work will be completed within 2020. The airport authority is taking the formal procedure to complete the project.
- LO3: Significance of the managing the finance in the project development.
- Summery: The developer of the project will acknowledge the source of the money and will deliver the project in such a way that it will repay the lone after the development of the project. The backing of the project is a critical task because the project is associated with the certain amount of risks. The project has the five stages-initialization, planning , execution, monitoring and control, closing. Each of the stages need the financial support so that it can be carried out in a right way.
- Evidence: There are certain factors that influences the finance. Some of the components that influences the finance are- setting goals of the project, obtaining the endorsements, finalization of the project planning, finalization of the agreements, development of the rate and measures and the development of the activity speed. In order to organize the planning of the spending the money in the logical way the financial engineering is the helpful application. It is related to the building of the new money policy which can be effective in the utilization of the different software instruments. It is used by the business, banks and investment banks. In this context the definition of the project risk is important. The risks related to the project are needed to be recognized before the investment of the money in a development of the project. Some of the risks which are related to the project are- financial risks, revenue risks and the commercial risks
- LO4: Significance of the cost estimation in the project management.
- Summery: In most cases it has been seen that the engineering industry is not concerned about the importance of the cost estimation in the project. This leads to the development process of the projects to face the constraints regrading the time and the cost. There are certain purpose of the estimation and the cost estimation can lead to the successful financial management in the project development process.
- Evidence: There are certain stages and the steps for the estimation of the cost. At first the closer value of the cost is estimated. The next step is the effort of the project evaluations which is followed by the forecasting of the all associated risks in the projects. The last step is the use of the prediction. There are certain significance for the estimation of the cost. The estimation should include the possibility of the happening of the risks in the project. Apart from that the distribution of the money in the development of the project is needed to be done appropriately on the basis of the requirements and the priority of the entity. There are certain stages for the estimation of the achievement of the tasks regarding the evaluation of the risk. The first step is assessment of the risks associated with the project. The next step is to identify the source of the risks. Based on these two steps the sustainable evaluation techniques are invented for the mitigation of the risks.
- LO5: Managing the changes in the requirements in the development of the project.
- Summery: During the course of the development of the project or the program the initial step is the arrangement of the plan. The arrangement of the plan includes the requirement gathering and the documentation along with the analysis of thee requirements. The clarity in the desired requirement helps to avoid the scope creep in the development phase of the project. In the programming phase the execution of the blue print maintaining all the requirements are carried out. The programming of the process in the project can be expressed in different ways- through bar diagrams, line of balance and location time graph.
- Evidence: The main evidence is represented through the analysis of the system. The primary goal of the system analysis is to decrease the perfect assets, to alleviate the undertaking cost, to maintain synchronization among the cost and the time. The examination of the network can be done in two ways. By the precedence charts and the arrow charts. The another factor associated with the network analysis is the controlling of the tasks. The task control ensures that all the tasks associated with the processes of the project management is done in the time and in the right way. Another concern of the task control is that the tasks are happening in the sequential way. The earned value management is the factor which is concerned about providing the value driven services to the stakeholders of the company.
- LO6: Application of the project contract conditions and the project terms.
- Summery: Contract is the lawful terms and conditions where the laws and the agreement of the doing business are written. The contract of the project is related to the various components- the positive side of the project to achieve the goal, the assurance for the source of the finance for supporting the project.
- Evidence: There are certain factors that influences the techniques. Some of these factors are the dependency on the type of goal, type of obligations, the execution of the contract and the flexibilities in the agreement. The contract agreement also helps in keeping the harmony between the relationships, risks and the rules. It has been found out that the organizations are more keen in recruiting the contractual workers. The main reason being this is that the contractual workers are able to deliver the specialized service within the allotted time along with that indulging the contractual workers in the organization is a cost effective way to getting the services. There are different kinds of agreement of the contracts like managerial contracts, construction contract and the comprehensive contract.
- LO7: Assurance and the controlling of the quality.
- Summery: There are 8 cycles in the procurement process- planning, budget, requirement specification, arranging the funds, tender, establishment and managing of the contracts and the handover of the process. There are certain specification for the purpose of the tender. Through the tender the requirements specification can be known, it providers the guidance to the supplier and helps to determine the future estimation. The specification in the tender should be written after the gathering and the documentation of the requirement specification. The specification should be right and accurate and meet all the requirements of the clients.
- Evidence: The processing of the tender follows the certain stages. At first the tender package is controlled by the project manager. The tender is then checked by the departmental managers. The consulting and the specifications are done by the experts. The consulting with the users and the purchaser is also conducted to maintain the clarity in the process.
- LO8: Designing and the governance of the application:
- Summery: Most of the companies have realized that the management and the development of the larger projects are impossible with out the help of the proper instruments and the software. The complexity of the projects which includes the specification of the requirements and managing the unmanaged raw data.
- Evidence: I order to know the specification of the project proper documentation is needed to be done. The document can be made electronically or manually. The documents should contain the proper requirements for the installation of the software, definite audits and should provide good security and the authorization access. The function of the document management is to provide a secured visualization of the process. The benefits the project managers can get from the documentation process is that it can reduce the errors and the risks associated with the project.
- LO10: Analysis and impacts of the safety.
- Summery: In order to deliver the projects successfully, the determination of the risks are needed to be evaluated. Some risks can be predicated from the beginning of the process and some risks are uncertain. The risks are associated with the financial risks and technical risks.
- Evidence: In case of the medical and damages the direct cost are related on the other hand one of the example of the uncertain risks are the accidents in the workplace. It is the responsibility of the project owner to mitigate the all types of risks in the work place. The workplace is needed to be safe and the rules and regulations regarding the workplace safety is needed to be maintained through the use of the certain tools and the equipments. The workers and the employees should be aware about the workplace safety.
- Discussion:In the above weeks the use of the project management and the significance of the implementation of the project management has been discussed. The other factors associated with the project management like the cost estimation and the specification of the requirements has been discussed. One of the major factor for the successful project management is to analysis the risks and the mitigation of the risk which has been identified in a proper way.
- Conclusion:It can be concluded from the above discussion that the project management is an important art for the organization for the implementation of the new system .The significance of the good project management has been discussed in the context of the development of the parallel runway at the Brisbane airport. The proper management of the project can help to deliver the outcome that meets all the requirements of the clients. There are certain factors associates with the project management that are needed to be evaluated during the development of the project such as analysis and the management of the risks. The other procedures like the estimation of the cost and the procedures for the tenders are also described as the different learning outcome in this discussion.
- References
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Hoboken, USA: John Wiley & Sons.
- Project Management Institute, 2013. A Guide to the Project Management Body of Knowledge – PMBOK Guide
- Levy S. M. (2012) Project Management in Construction, 6thEdition. USA: McGraw-Hill.
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Reading samples |
Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 1 & 2; · Australia National Audit Office – Planning and Approving Projects · AS 4120-1994 Code of tendering; Optional Readings · Locate your company internal Project Development Manuals (if it exists and available); · You can also study the Californian Government Department of Transportation Project Development Procedures; · Download and study the Engineers Australia Infrastructure Report Card for your State; Case Study · Brisbane Airport’s New Parallel Runway; · YouTube: Brisbane’s New Parallel Runway – Overview; · Brisbane Airport 2014 Approved Master Plan. |
1. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich the organisations. |
· The project can be defined as reaching goals in definite time and reasonable budget. It is being contingent on the diverse scale and intricacy of the projects. The big projects are constructions, railways, oil plants and mines. Ø The Brisbane airport parallel runways is a diverse scale project so intricacy level is also high. Main problem is climate whether change, noise pollution and floods. · A comparative series of nonstop movements can be taken below definite time stages and that are design to achieve the goals it called programs. Ø The Brisbane airport parallel runway project working on this sequence. v Research and assessment v Planning and decision making v Implementation v Outcomes · It means that they have clear opinion of method which can help to obtain goals in perfect time and proper budget. · Value management is concerned with the cultivating and supporting a necessary balance between the needs of stakeholder and resources wanted to satisfy them. Ø The unfortunate strength of the runway is improved by creation the toothpaste technique. And so many variations to make the project healthier. Ø It is the request of the operators and stakeholders for the bright future of this project and value management gratify the needs. · Portfolio management is a way to complete the gap between implementation and plan. · The portfolio management may contain Ø Research Ø Financial analysis Ø Asset valuation Ø Monitoring Ø Reporting |
PPMP20013 Unit Profile PPMP20013 Moodle Web site Ø https://investinganswers.com/financial-dictionary/stock-market/portfolio-management-637 Ø https://bne.com.au/corporate/projects/brisbanes-new-runway Ø https://moodle.cqu.edu.au/pluginfile.php/1196096/mod_resource/content/4/PPMP20013%20Lecture%20Week%201%20-%20revised%20RDE.pdf Ø https://www.youtube.com/watch?v=gTuCbSlNy7I Ø https://bne.com.au/corporate/projects/brisbanes-new-runway |
References:
Anon, (n.d.). Portfolio Management Definition & Example | InvestingAnswers. [online] Available at: https://www.investinganswers.com/financial-dictionary/stock-market/portfolio-management-637 [Accessed 16 Mar. 2018].
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Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 3, 4&5; Optional Readings · Australia National Audit Office Developing and Managing Contracts – Getting the right outcome, achieving value for money; · HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract. · Australian Commonwealth Government Procurement Rules · Victorian Government Procurement Rules · WA Government Procurement Rules · NSW Government Procurement Rules · QLD Government Procurement Transformation; Case Study · Brisbane Airport’s New Parallel Runway – Climate Change; · BNE Airports EIS/MDP – Approvals. |
2. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations. |
· Project legitimization has primary three sections and each part has its subparts. Task evaluation, venture execution and activity of advantages. In the undertaking evaluation arrange definition and ideas ought to be created. Plan and development are the parts of undertaking execution. In the activity of advantages, the long haul and here and now benefits are figured. It is relying upon time and cash. Cash interest in the expressing two stages. After that with time we get benefits as far as cash. · Brisbane parallel runway is enormous undertaking. In extremely outdated, they wanted to construct this runway. The executions are finished with the time lastly, they began to construct this runway as per the closer future requests. It builds up the Brisbane since more individuals pulled in towards it. They foresee that they will offer more 7800 occupations. This undertaking is begun in 2012 and will closes in 2020. This day and age demonstrates to us the task is extremely tremendous. Huge tasks have greater intricacy. In any case, the future advantages will tremendous. · The Brisbane parallel runway project is going admirably. When they began to assemble it, they need to enhance first the ground conditions. They had accomplished real stages with that time like form runway, runways and underpass. The work is going on the track and it will complete at September 2020.yes, it is a formal procedure and its premise are Ø situational examination Ø alternative objectives and plans Ø goals and design assessment Ø goals and design choice Ø implementation Ø monitor and control · The project group needs beneath pro learning in substance of agreements and organization. Ø Basic project administration like planning, estimations and undertaking administration Ø Problem explaining Ø Conflict determination Ø Transformative change Ø Technical documentations Ø Risk administration Ø Consumer or customer administration · Seven techniques or exercises that assistance to keep away from the overwhelm improve and project disappointment. Ø Clearly characterize task and record it with the project palatable. Ø Follow the task administration structure and strategies. Ø Invest additional time in centre arranging like extension, time and spending plan. Ø Develop hazard design. Ø Communicate project hazard as potential boundaries of accomplishment. Ø Lessons gain from past undertaking disappointments. Ø Do not pick those undertakings which don’t have longer degree. |
PPMP20013 Unit Profile PPMP20013 Moodle Web site |
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Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 6; · Chapter 26 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) Accounting Principles Vol 2: Managerial Accounting; Optional Readings · Chapter 18 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) compares managerial accounting with financial accounting; Case Study · Brisbane Airport New Parallel Runway Funding Facts; |
3. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations. |
Project Finance: •The pioneer acknowledges the money streams and incomes of specific legitimate element as a wellspring of assets which the credit will be reimbursed at the chosen rate. •Project back is the most troublesome task since it is relating with the numerous obscure dangers. •Every project needs the back. The wellsprings of the fund can be government advances, bank credits and the private advances. · If project postpone in view of subterranean insect reason the fund is likewise increment with time. Financial instruments: •The project has diverse stages like initiating, planning, executing and shutting. So, the fund required by the stages astute because it fluctuates generally. Components influencing the income •set the goals of the project •Obtain endorsements •Finalizing the plan •Finalize the agreements •Finalize the financing courses of action •Rate and measure of development •Speed of the activity Financial engineering: · Financial engineering is to tackle the monetary issues by utilizing scientific strategies. For building up the new money related items and addresses the budgetary issues it utilizes the instruments and learning from the software engineering, connected science, measurements and financial aspects · Financial engineering utilized by business banks. Protection offices, multifaceted investments and speculation banks. · Finance engineering is additionally considered as quantitative investigation. Project risks: · Project risks ought to recognize before the allotment and examination of the undertaking. Type of risks related with projects Ø Financial risks Ø Revenue risks Ø Commercial risks |
PPMP20013 Unit Profile PPMP20013 Moodle Web site https://moodle.cqu.edu.au/course/view.php?name=PPMP20013_2181 |
References:
Kerzner H. 2013. Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Edition. Hoboken, USA: John Wiley & Sons.
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Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 7; · AS 4915-2002 Project management – General conditions; Optional Readings · Engineering & Construction Risk Institute; Case Study · BMD Constructions Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at Brisbane Airport · Jan De Nul Group: New parallel runway for Brisbane Airport · Hall Contracting: New Parallel Runway Project · Jacobs Awarded Contracts through Brisbane Airport Airside · Airbiz: Aircraft noise projections |
4. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects. |
Cost Estimating: – • Engineering industry is for the most part flop in the cost administration. • They need to deal with the cost and time gauges as indicated by the phases of the undertaking. Thinking about the key purposes of estimation: – • Approximation as indicated by the appropriations • Approximation of cost is more prominent in prior phases • Approximation of shrouded chances in the earlier phases. How to estimate? • Expect the closer cost by the cost. • Expect the projects of effort • Forecast all suspicion and note all prohibitions • Prediction of use. Significance of primary estimates: – • Estimations ought to be set up with loads of investigation and great care. • Estimations ought to be distributed for audit and endorsement can assume vital part. • Initialestimations are measurement of dangers. Stages for estimation of the task achievement: – 1) Assessing the Risk: – • Sensitivity of the result of the task. • Procedures of usage. • persons included • Place 2) Source of Risk: – • Account • Idea and proposal • Logistics • Price increases • Application procedures • Governance 3) Suitability of evaluating Techniques: – • Reflect the entirely assess such as cost history from opening to conclusion stages and cost isolate as indicated by the parts. • Consider the connections between the assessing methods and evaluating stages Ø Preliminary Ø Feasibility Ø Implementation Ø Design Ø Construction |
https://moodle.cqu.edu.au/pluginfile.php/1196126/mod_resource/content/6/PPMP20013%20Lecture%20Week%204.pdf |
References:
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Hoboken, USA: John Wiley & Sons.
- Project Management Institute, 2013. A Guide to the Project Management Body of Knowledge – PMBOK Guide
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Reading samples |
Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 8, 9, 10; · QLD Dept. Transport and Main Roads. 2017. Project cost estimating manual; Optional Readings · AS/NZS ISO/IEC 15288:2015 Systems and software engineering; Case Study · BMD Constructions has a unique capability and portfolio of projects · Brisbane Airport Corporation’s New Parallel Runway |
5. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations. |
Arranging: – • Planning is to guarantee the assets convey and finish their errands immediately. • Project achievement can be accomplished by ceaseless and watchful arranging. Programming: – • Programming is likewise essential for the undertaking estimations. With the assistance of programming we can gauge the time and cost fluctuations. There are three kinds of programming 1) Bar diagrams 2) Line of Balance 3) Location Time graph System Analysis: – The primary goals of the Network Analysis is 1) Decreases the perfect assets 2) To alleviate the undertaking cost 3) Maintaining harmony amongst time and cost of undertaking 4) To alleviate generation postponements, interference and clashes 5) To alleviate the aggregate undertaking span There are two types of Network examination 1) Precedence charts 2) Arrow charts • In these charts boxes recommend the exercises and numbers propose the successions and for the most part it tells about how the exercises are correspond with each other, which exercises are covering. Sham exercises can be dispensed with through utilizing these methods. Task Control: – • The motivation behind this assignment is to guarantee the undertaking status routinely as far as time, spending plan and proficiency. On the off chance that something is turning out badly in the venture, so we can know and take activities as indicated by the issue. • For the compelling Project control, Regular gathering course of action and entries of the reports ought to be compulsory. Earned Value Management (EVM): – • It is the primary administration in the undertaking. • Most Important Analysis can be happening through EVM. • Earn esteem has numerous terms like CPI, SPI, BCWS, BCWP and so on. Through comprehend these terms we can ascertain the cost and timetable change. We can likewise know the bearing of the task is fitting or not. From the S-bend we can know the profitability of the task and productivity of the venture. • We can likewise think about the work done and different advances of the venture. |
PPMP20013 Unit Profile PPMP20013 Moodle Web site · Smith Chapters 8, 9 & 10; · QLD Dept. Transport and Main Roads. 2015. Project cost estimating manual https://www.tmr.qld.gov.au/business-industry/Technical-standards-publications/Project-cost-estimating-manual.aspx The State of Queensland (Department of Transport and Main Roads) 2010-2016. |
References
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11thEdition. Hoboken, USA: John Wiley & Sons.
- Levy S. M. (2012) Project Management in Construction, 6thEdition. USA: McGraw-Hill.
- Project Management Institute, 2013. A Guide to the Project Management Body of Knowledge – PMBOK Guide
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Reading samples |
Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 11 & 12; · Australian Contractors Association (ACA) Relationship Contracting; Optional Readings · BMA’s Caval Ridge Mine; · Adani Mining Pty Ltd Carmichael Coal Mine and Rail Project; Case Study · Enhanced instructions and grading criteria. |
Week 6: Identify and apply project contract conditions to project teams and project processes. |
Contract and its Importance: – Contract is a lawful composed understanding in which terms and conditions are specified to worried about the business, work, deals and numerous different components. • Projects have their positive results so to achieve the effective results contracts ought to be readied. • Resources may not generally accessible from inside, so contracts should give legitimate strategies for acquiring assets in worry of their connections and instalments. • For accomplishing the distinct outcomes, organizations pick diverse kinds of agreements. Elements influencing the techniques: – • Type of goal • Type of obligations • Contractor’s execution • Flexibilities of the agreement Authoritative Considerations are relying upon the 3 Rs. Keeping up the harmony between • RELATIONSHIPS • RISKS • RULES Why utilizing the contractual worker? • For the specific administration of abilities like fundamental and specialized and get aptitude in a few issues. • For the one of a kind work. Contractual workers have exceptional group like originators and specific assets to finish the work with great precision. • For sparing the time in understanding of choosing the assets. ProjectOrganizations: – • The contracts ought to change from each task because each undertaking has diverse destinations, time cut off and spending plan. Diverse levels of project association contracts: – • Comprehensive Contract: • Separate Design and Construction Contract: – • Management contract: – • There are numerous sorts of agreement accessible for the paying the temporary workers. Instalment techniques may change from venture to extend. Additionally, there are numerous components influence to pay the contractual workers. Instalments are finished by the execution of the contractual worker. On the off chance that they finish the venture before given time restrict so they ought to be compensated by the undertaking proprietors. Interestingly if they perform late as indicated by the given time restrain so their instalments ought to be lessens as per the additional required significant investment restrict. |
PPMP20013 Unit Profile PPMP20013 Moodle website |
References:-
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Hoboken, USA: John Wiley & Sons.
- Project Management Institute, 2013. A Guide to the Project Management Body of Knowledge – PMBOK Guide
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Reading samples |
Learning outcomes of the unit |
Learning from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 4, 11 & 12; · AS/NZS ISO 9004:2011; Optional Readings · AS 9002-2000(+A1); Case Study · BMD: Management Systems; · BAC: EIS and MDP. |
Week 7: Define and apply quality assurance and quality control |
Procurement cycle:- Procurement cycle has 8 stages. 1) Plan 2) Budget 3) Specify requirements 4) Commit Funds 5) Tender 6) Establish 7) Manage Contract 8) Handover Purpose of tender specification:- · To know the requirements · Provide the guidance to the supplier · Conformity with the supplier · Future estimation Right time for the specifications written Specifications should be written after a need for goods, services or works has been established and planned probably it is done after stage 1. And also funds may decide to pay them after specifications written. Things that make good specifications · Right understanding · Specifications · Accuracy · Completion · Essential requirements · Desirable requirements · More specifications about evaluation criteria · Good consistency Those are the most important things which makes the specifications more clear. Typical Tender Preparation Procedures:- · Tender package is controlled by the Project manager. · The contract department checks the contract overlapping, gapping, overlapping and try to solve the problems. · Individual tender packages are decided according to the standard requirement of the projects. Consulting on Specifications:- · Communications can take very important place in this section. It very important to have communications between the writer, users and experts. Consulting with expert · Expert advice is needed in the specification development. · They shouldn’t be allowed for management decision. They are allowed for technical expertise. · Experts should have fully knowledge about the circumstance and procurement policies of the project. Consulting with users and purchasers · Develop strong and clear specifications for the documentation. · Identify the strategies · Identify the strategic procurement · Learn the procedures which will help to increase the efficiency and resulting directly the reduction in time and cost. |
· https://moodle.cqu.edu.au/pluginfile.php/1196158/mod_resource/content/10/PPMP20013%20Lecture%20Week%207.pdf |
References
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11thEdition. Hoboken, USA: John Wiley & Sons.
- Levy S. M. (2012) Project Management in Construction, 6thEdition. USA: McGraw-Hill.
Design and apply document management and governance processes.
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Reading samples |
Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 12, 13 & 14; Optional Readings · AS/NZS 8016:2013 Governance of IT enabled projects. · lyas, Hassan, &Ilyas, (2013). PMIS: boon or bane? · Kelly (2010). Governance rules! Case Study · BCA Annual Report pp44-51; · BAC: EIS and MDP. |
6. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations. |
Ø The globalise companies experience that it is nearly impossible to develop larger projects without an instrument of efficient management of project documentation. · Project Complexity:- Ø Most of companies hire experienced engineers because of their problem solving skills, reliability, resourcefulness and their thinking power. Ø It is more complicated when engineers make all the information at hand, managing, controlling, distributing to higher authorities, partners and regulators. Ø Main problem of the complexity in projects is most of data is unmanaged, non structured in comparison of standard structures. These types of documents can’t easily share, collated and integrated. · Document Management:- Ø Every action taken with a document within an organisation to create, distribute and delay of document. · What is Document? Ø A document can either be represented electronically or it can be prepared as hard copy of thousands of pages. · Components of Document Management:- Ø Scanning the documents for installing into the system Ø Store and archive them properly Ø Indexing and retrieving for the document search Ø Distribution of exporting documents from the system Ø Provide good security and authorize access Ø Definite audits on time · What DMS should exactly do? Ø Manage and organize documents properly Ø Support concurrent documents Ø Manage document revision requests Ø Provide secure, web based visualization Ø Provide secure access anywhere · Practical benefits of DMS:- Ø Proficient and smooth handover of all technical documents, contracts and engineering scope. Ø The flow of document packages is efficiently managed between venders and contractors. Ø For all documents simple review process and cross reference checking. Ø Reduction in errors. Ø Higher efficiency. |
· https://moodle.cqu.edu.au/pluginfile.php/1196168/mod_resource/content/11/PPMP20013%20Lecture%20Week%208.pdf |
References:-
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11thEdition. Hoboken, USA: John Wiley & Sons.
- Levy S. M. (2012) Project Management in Construction, 6thEdition. USA: McGraw-Hill.
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Reading samples |
Learning outcomes of the unit |
Learnings from your weekly study, experience, this and prior unit readings and assignments |
Supporting documentation including any prior learning |
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Mandatory Readings · Smith Chapters 3, 11 to 3.13; · 4801-2001; · 4804-2001; · Smith Chapters 16 & 17; · Smith Chapters 18, 19, 20 & 21. Optional Readings · Safe Work Australia; · AS 1470-1986; · Australian Constructors Association; · Civil Contractors; · Department of the Environment; · BHP; · AS/NZS 5911:2013. Case Study · BAC: Work Health & Safety; · BMD Empower: Health, Safety, Environment and Quality (HSEQ); · Productivity Commission: Public Infrastructure Inquiry report; · PMI: Submission to the Productivity Commission; · BAC sustainability Fact Sheets; · BMD Empower. |
· Week 10: Critically analyse the implications and impacts of safety. |
Engineering Risk:- It is very important in the project that to determine which level of risk should be acceptable for the investor. · Many of the events can be predict before project starts by experienced project manager. · Uncertain events can ruin the project outcomes, budget and time. Economic Considerations:- Direct cost are related to the Medical and damages. Indirect costs are related to injuries, money spent behind the injuries, time lost behind the injuries and ultimately its affects to the project goals. Accidents:- Accidents are that events which can be occur because of unknown causes. The unknown causes are happened because of negligence, lack of information, avoidance of some serious things. The responsibilities of the project owner are:- · Work place should be safe · Mandatory follow the rules and regulations regarding to the safety · Provide safety tools and equipments · Give proper knowledge of the dangers · Give training that If there is any danger so what should they do Safety programs:- Safety programs are that activities which keep the project safe. Maintenance of the whole working conditions. · Check the safety equipments after a definite time of interval. · Analyse the safety performance. · Update the new safety features. · Communicate with whole staff and provide knowledge. · Arrange training session. · Take feedback from the workers. Benefits of safety programs:- · Reduce the risks of uncertain events · Reduce the injuries · Reduce the sight damage · Reduce cost that spent behind the injuries · Increase employee satisfaction related to the safety · Increase the presents of the employees · No need to involve other resources Main things:- · Remove hazards · To provide devices which can warn to the workers on time · Engineering control 1) Preferred 2) Permanent · Commitments should be following in any conditions. · Mandatory teamwork can give success. |
· https://moodle.cqu.edu.au/pluginfile.php/1196188/mod_resource/content/13/PPMP20013%20Lecture%20Week%2010.pdf |
References:-
- Kerzner H. (2013) Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Hoboken, USA: John Wiley & Sons.
- Levy S. M. (2012) Project Management in Construction, 6th USA: McGraw-Hill.
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