Project Management For Construction Of Office Building – ABC Banking Ltd.

Introduction to Project management for Construction of Office Building

Project management is a field that deals with the planning, management and control of a particular venture that might include implementation of a certain plan or strategy, construction of a building, implementation of a new system and others. While all these ventures can be done with the help of project management, it is recommended to use project management as it provides a specific roadmap, structure and plan for the venture. Project managers are assigned to control and manage the project is order to ensure the specified particular structure is followed throughout the course of the project.

ABC Banking Ltd. is private banking organization that has currently 150 employees working. However, the current office building was initially selected for accommodating 85 employees when there are only 30 employees at that time. However, with continuous recruitment process and rapid growth of the organization in terms of business, the company has expanded and even needs more employees in order to gain control of the rapid progress. However, the company also needs space to accommodate the new employees. Based on a meeting between the company stakeholders, it has been decided that a project will be undertaken for the construction of a new office building. As per the plan, a land will be purchased in a commercial or business district and a five storey building will be constructed on that particular piece of land. While the office will only require two storeys, the rest of the floors will be immediately rented out after construction so that the organization can have an additional source of income for paying off their loans and investments.

Portfolio management process is generally developed in order to determine the driving forces behind any project i.e. if there is a host of different projects to be undertaken, the portfolio management process helps to determine which project will be best for the organization. The considerations mainly made in the portfolio management process include immediate benefits, long term benefits, cost benefit, return on investment, alignment with business plan and strategy and others. Similarly, for ABC Banking Ltd., the portfolio management process includes the following considerations for the selection of this particular project.

Expansion of Office – With increasing number of employees in the bank, it needs a significant expansion of space in order to provide sufficient space to the employees for their work. However, due to lack of permit or space, the existing building cannot be further expanded. As a result, the organization has decided to build a new office building that will provide sufficient space to the excess number of employees as well as future employees. For that purpose, the company needs to select a popular commercial region and buy a piece of land for construction of the new building.

Financial Feasibility – Construction of an office building will involve expense of a huge amount of monetary resources and hence, it is important to ensure earning of sufficient return on investment as early as possible. Generally, for such large expenses, organizations opt to take loans from the bank or financial support from a sponsor. Unless the project is financially feasible, the organization will not be able to pay the loans or sponsor investments back. Considering the need for financial feasibility, ABC Banking Ltd. has decided to build a five storey building of which, their office will occupy the first and the second floor. The ground floor will be rented for commercial purposes and the upper two floors will be rented to some other office or organization. With the income from the rent, the organization will be able to pay back the loans or investments within a reasonable period of time.

Types of Projects

The work breakdown structure of the project is shown in the following table.

WBS	Task Name
0	Construction of Office Building Project
1	Preliminary Survey and Analysis
1.1	Discussion Regarding New Office Building
1.2	Approval to Build a New Building
1.3	Selection of Region for the New Office Building
1.4	Survey Region for Empty Lands
1.5	Buy Piece of Land for Construction
1.6	Apply for Construction Licence
1.7	Receive Legal Approval for Construction
1.8	Receive Final Approval for Project
1.9	Proceed for Planning
2	Project Planning
2.1	Determine the Type of Building to be Built
2.2	Determine the Height and Total Stories of the Building
2.3	Determine an Estimated Budget for the Project
2.4	Release Tender for Building Contract
2.5	Analyze Background of Interested Contractors
2.6	Start Bidding
2.7	Assess All Bids
2.8	Select a Reasonable Bid
2.9	Place Contract Based on Bid
2.10	Insert Budget and Time Clauses in Contract
2.11	Sign Contract and Hire Contractor
2.12	Hand Over Land to Contractor
2.13	Hire Architect
2.14	Prepare Blueprint of the Building
2.15	Approve the Blueprint
2.16	Approval to Proceed to Construction
3	Project Initiation
3.1	Develop Project Charter
3.1.1	Determine the Scope of the Entire Project
3.1.2	Determine an Estimated Schedule for Project
3.1.3	Determine Final Budget for Project
3.2	Assess Risks Associated with the Project
3.3	Hire Construction Workers
3.4	Hire Construction Vehicles
3.5	Purchase Construction Materials as Required
3.6	Finalize the Project
4	Project Execution
4.1	Land Clearing
4.1.1	Excavate the Land
4.1.2	Clear Weed, Plants, Waste and Existing Stones and Concrete Chunks
4.1.3	Build the Foundation of the Building
4.1.4	Place Soil on Land
4.2	Build Infrastructure
4.2.1	Start Building the Overall Infrastructure
4.2.2	Place Iron Rods and Strong Concrete
4.2.3	Install Initial Electrical Connections through the Infrastructure
4.2.4	Install Water Pipes
4.3	Doors and Windows
4.3.1	Cut Out Walls for Doors and Windows
4.3.2	Cut Out Air Vents
4.3.3	Place Door and Window Frames
4.4	Concrete and Plastering
4.4.1	Apply Concrete on Bricks
4.4.2	Plastering
4.4.3	Drying of the Plaster
4.5	Additional Works
4.5.1	Plumbing Works in the Entire Building
4.5.2	Electrical Works in the Entire Building
4.5.3	Install Various Equipments
4.5.4	Install Safety Equipments
4.5.5	Install Doors and Windows
4.6	Colour
4.6.1	Apply Interior Colours
4.6.2	Apply Exterior Colours
4.7	Monitoring of the Entire Building
4.8	Project Handover
5	Project Review and Termination
5.1	Submit the Documentation of the Project
5.2	Submit the Final Expense Report
5.3	Review Entire Project
5.4	Complete Payments
5.5	Termination of the Project and Sign Off

The work breakdown structure of the project is diagrammatically depicted as follows.

Figure 1: Work Breakdown Structure of the Project

(Source: Created by Author)

Figure 2: Project Network Diagram

(Source: Created by Author)

The responsibility matrix of the project including EST, EFT, LST and LFT is shown in the following table.

Task Name	Resource Names	Early Start	Early Finish	Late Start	Late Finish
Construction of Office Building Project		Mon 13-08-18	Tue 12-11-19	Mon 13-08-18	Tue 12-11-19
Preliminary Survey and Analysis		Mon 13-08-18	Thu 15-11-18	Mon 13-08-18	Thu 15-11-18
Discussion Regarding New Office Building	Construction and Expansion Manager, Director of Project, Finance Manager, Supervisor	Mon 13-08-18	Fri 31-08-18	Mon 13-08-18	Fri 31-08-18
Approval to Build a New Building	Director of Project	Mon 10-09-18	Fri 14-09-18	Mon 10-09-18	Fri 14-09-18
Selection of Region for the New Office Building	Construction and Expansion Manager, Supervisor	Mon 03-09-18	Fri 07-09-18	Mon 03-09-18	Fri 07-09-18
Survey Region for Empty Lands	Construction and Expansion Manager	Mon 17-09-18	Fri 28-09-18	Mon 17-09-18	Fri 28-09-18
Buy Piece of Land for Construction	Director of Project, Finance Manager	Mon 01-10-18	Fri 19-10-18	Mon 01-10-18	Fri 19-10-18
Apply for Construction Licence	Director of Project	Mon 22-10-18	Tue 23-10-18	Mon 22-10-18	Tue 23-10-18
Receive Legal Approval for Construction	Director of Project	Wed 24-10-18	Tue 06-11-18	Wed 24-10-18	Tue 06-11-18
Receive Final Approval for Project	Director of Project	Wed 07-11-18	Thu 08-11-18	Wed 07-11-18	Thu 08-11-18
Proceed for Planning	Director of Project	Fri 09-11-18	Thu 15-11-18	Fri 09-11-18	Thu 15-11-18
Project Planning		Fri 16-11-18	Thu 10-01-19	Fri 16-11-18	Thu 10-01-19
Determine the Type of Building to be Built	Construction and Expansion Manager	Fri 16-11-18	Thu 22-11-18	Fri 16-11-18	Thu 22-11-18
Determine the Height and Total Stories of the Building	Construction and Expansion Manager	Fri 23-11-18	Thu 29-11-18	Fri 23-11-18	Thu 29-11-18
Determine an Estimated Budget for the Project	Construction and Expansion Manager	Fri 30-11-18	Wed 05-12-18	Mon 03-12-18	Thu 06-12-18
Release Tender for Building Contract	Construction and Expansion Manager	Fri 07-12-18	Thu 20-12-18	Fri 07-12-18	Thu 20-12-18
Analyze Background of Interested Contractors	Construction and Expansion Manager	Fri 30-11-18	Thu 06-12-18	Fri 30-11-18	Thu 06-12-18
Start Bidding	Construction and Expansion Manager	Fri 21-12-18	Mon 24-12-18	Fri 21-12-18	Mon 24-12-18
Assess All Bids	Construction and Expansion Manager	Tue 25-12-18	Wed 26-12-18	Tue 25-12-18	Wed 26-12-18
Select a Reasonable Bid	Construction and Expansion Manager	Thu 27-12-18	Thu 27-12-18	Thu 27-12-18	Thu 27-12-18
Place Contract Based on Bid	Construction and Expansion Manager	Fri 28-12-18	Fri 28-12-18	Fri 28-12-18	Fri 28-12-18
Insert Budget and Time Clauses in Contract	Construction and Expansion Manager	Mon 31-12-18	Mon 31-12-18	Mon 31-12-18	Mon 31-12-18
Sign Contract and Hire Contractor	Construction and Expansion Manager	Tue 01-01-19	Wed 02-01-19	Tue 01-01-19	Wed 02-01-19
Hand Over Land to Contractor	Construction and Expansion Manager	Thu 03-01-19	Tue 08-01-19	Thu 03-01-19	Tue 08-01-19
Hire Architect	Construction and Expansion Manager	Fri 30-11-18	Thu 06-12-18	Thu 13-12-18	Wed 19-12-18
Prepare Blueprint of the Building	Construction and Expansion Manager	Fri 07-12-18	Thu 20-12-18	Thu 20-12-18	Wed 02-01-19
Approve the Blueprint	Construction and Expansion Manager	Fri 21-12-18	Wed 26-12-18	Thu 03-01-19	Tue 08-01-19
Approval to Proceed to Construction	Director of Project	Wed 09-01-19	Thu 10-01-19	Wed 09-01-19	Thu 10-01-19
Project Initiation		Fri 11-01-19	Thu 14-02-19	Fri 11-01-19	Thu 14-02-19
Develop Project Charter		Fri 11-01-19	Fri 18-01-19	Fri 11-01-19	Fri 18-01-19
Determine the Scope of the Entire Project	Construction and Expansion Manager	Fri 11-01-19	Mon 14-01-19	Fri 11-01-19	Mon 14-01-19
Determine an Estimated Schedule for Project	Construction and Expansion Manager	Tue 15-01-19	Fri 18-01-19	Tue 15-01-19	Fri 18-01-19
Determine Final Budget for Project	Construction and Expansion Manager	Tue 15-01-19	Fri 18-01-19	Tue 15-01-19	Fri 18-01-19
Assess Risks Associated with the Project	Construction and Expansion Manager	Mon 21-01-19	Fri 08-02-19	Mon 21-01-19	Fri 08-02-19
Hire Construction Workers	Contractor	Mon 21-01-19	Fri 25-01-19	Mon 04-02-19	Fri 08-02-19
Hire Construction Vehicles	Contractor, Construction Vehicles [1]	Mon 21-01-19	Fri 25-01-19	Mon 04-02-19	Fri 08-02-19
Purchase Construction Materials as Required	Contractor, Construction Materials [1]	Mon 21-01-19	Fri 25-01-19	Mon 04-02-19	Fri 08-02-19
Finalize the Project	Director of Project	Mon 11-02-19	Thu 14-02-19	Mon 11-02-19	Thu 14-02-19
Project Execution		Fri 15-02-19	Fri 04-10-19	Fri 15-02-19	Fri 04-10-19
Land Clearing		Fri 15-02-19	Tue 09-04-19	Fri 15-02-19	Tue 09-04-19
Excavate the Land	Labour [10]	Fri 15-02-19	Thu 28-02-19	Fri 15-02-19	Thu 28-02-19
Clear Weed, Plants, Waste and Existing Stones and Concrete Chunks	Labour [10]	Fri 01-03-19	Tue 05-03-19	Fri 01-03-19	Tue 05-03-19
Build the Foundation of the Building	Labour [10]	Wed 06-03-19	Tue 02-04-19	Wed 06-03-19	Tue 02-04-19
Place Soil on Land	Labour [10]	Wed 03-04-19	Tue 09-04-19	Wed 03-04-19	Tue 09-04-19
Build Infrastructure		Wed 10-04-19	Tue 18-06-19	Wed 10-04-19	Fri 26-07-19
Start Building the Overall Infrastructure	Labour [50]	Wed 10-04-19	Tue 30-04-19	Wed 10-04-19	Tue 30-04-19
Place Iron Rods and Strong Concrete	Labour [50]	Wed 01-05-19	Tue 11-06-19	Mon 27-05-19	Fri 05-07-19
Install Initial Electrical Connections through the Infrastructure	Labour [50]	Wed 12-06-19	Tue 18-06-19	Mon 22-07-19	Fri 26-07-19
Install Water Pipes	Labour [50]	Wed 12-06-19	Tue 18-06-19	Mon 08-07-19	Fri 12-07-19
Doors and Windows		Wed 22-05-19	Fri 31-05-19	Wed 22-05-19	Fri 31-05-19
Cut Out Walls for Doors and Windows	Labour [5]	Wed 22-05-19	Mon 27-05-19	Wed 22-05-19	Mon 27-05-19
Cut Out Air Vents	Labour [5]	Wed 22-05-19	Thu 23-05-19	Thu 30-05-19	Fri 31-05-19
Place Door and Window Frames	Labour [5]	Tue 28-05-19	Fri 31-05-19	Tue 28-05-19	Fri 31-05-19
Concrete and Plastering		Wed 01-05-19	Fri 12-07-19	Wed 01-05-19	Fri 12-07-19
Apply Concrete on Bricks	Labour [25]	Wed 01-05-19	Tue 21-05-19	Wed 01-05-19	Tue 21-05-19
Plastering	Labour [25]	Mon 03-06-19	Fri 21-06-19	Mon 03-06-19	Fri 21-06-19
Dyring of the Plaster	Labour [25]	Mon 24-06-19	Fri 12-07-19	Mon 24-06-19	Fri 12-07-19
Additional Works		Mon 15-07-19	Fri 30-08-19	Mon 15-07-19	Fri 30-08-19
Plumbing Works in the Entire Building	Labour [20]	Mon 15-07-19	Fri 26-07-19	Mon 15-07-19	Fri 26-07-19
Electrical Works in the Entire Building	Labour [20]	Mon 15-07-19	Fri 26-07-19	Mon 29-07-19	Fri 09-08-19
Install Various Equipments	Labour [20]	Mon 29-07-19	Fri 09-08-19	Mon 29-07-19	Fri 09-08-19
Install Safety Equipments	Labour [20]	Mon 12-08-19	Fri 23-08-19	Mon 12-08-19	Fri 23-08-19
Install Doors and Windows	Labour [20]	Mon 26-08-19	Fri 30-08-19	Mon 26-08-19	Fri 30-08-19
Colour		Mon 02-09-19	Fri 13-09-19	Mon 02-09-19	Fri 13-09-19
Apply Interior Colours	Labour [25]	Mon 02-09-19	Fri 13-09-19	Mon 02-09-19	Fri 13-09-19
Apply Exterior Colours	Labour [25]	Mon 02-09-19	Fri 13-09-19	Mon 02-09-19	Fri 13-09-19
Monitoring of the Entire Building	Construction and Expansion Manager, Supervisor, Contractor	Mon 16-09-19	Fri 27-09-19	Mon 16-09-19	Fri 27-09-19
Project Handover	Contractor	Mon 30-09-19	Fri 04-10-19	Mon 30-09-19	Fri 04-10-19
Project Review and Termination		Mon 07-10-19	Tue 12-11-19	Mon 07-10-19	Tue 12-11-19
Submit the Documentation of the Project	Contractor	Mon 07-10-19	Fri 18-10-19	Mon 07-10-19	Fri 18-10-19
Submit the Final Expense Report	Contractor	Mon 21-10-19	Fri 25-10-19	Mon 21-10-19	Fri 25-10-19
Review Entire Project	Director of Project	Mon 28-10-19	Fri 01-11-19	Mon 28-10-19	Fri 01-11-19
Complete Payments	Director of Project	Mon 04-11-19	Fri 08-11-19	Mon 04-11-19	Fri 08-11-19
Termination of the Project and Sign Off	Director of Project	Mon 11-11-19	Tue 12-11-19	Mon 11-11-19	Tue 12-11-19

There are several techniques that are used to determine the cost and budget of a project. One such technique is bottom up estimation technique that is deduced from the work breakdown structure of the project. Using this technique, the project budget and cost distribution plan along with estimated duration of each activity is determined as follows.

Task Name	Duration	Start	Finish	Cost
Construction of Office Building Project	327 days	Mon 13-08-18	Tue 12-11-19	$616,400.00
Preliminary Survey and Analysis	69 days	Mon 13-08-18	Thu 15-11-18	$226,000.00
Discussion Regarding New Office Building	15 days	Mon 13-08-18	Fri 31-08-18	$96,000.00
Approval to Build a New Building	5 days	Mon 10-09-18	Fri 14-09-18	$10,000.00
Selection of Region for the New Office Building	5 days	Mon 03-09-18	Fri 07-09-18	$14,000.00
Survey Region for Empty Lands	10 days	Mon 17-09-18	Fri 28-09-18	$14,000.00
Buy Piece of Land for Construction	15 days	Mon 01-10-18	Fri 19-10-18	$54,000.00
Apply for Construction Licence	2 days	Mon 22-10-18	Tue 23-10-18	$4,000.00
Receive Legal Approval for Construction	10 days	Wed 24-10-18	Tue 06-11-18	$20,000.00
Receive Final Approval for Project	2 days	Wed 07-11-18	Thu 08-11-18	$4,000.00
Proceed for Planning	5 days	Fri 09-11-18	Thu 15-11-18	$10,000.00
Project Planning	40 days	Fri 16-11-18	Thu 10-01-19	$89,400.00
Determine the Type of Building to be Built	5 days	Fri 16-11-18	Thu 22-11-18	$7,000.00
Determine the Height and Total Stories of the Building	5 days	Fri 23-11-18	Thu 29-11-18	$7,000.00
Determine an Estimated Budget for the Project	4 days	Fri 30-11-18	Wed 05-12-18	$5,600.00
Release Tender for Building Contract	10 days	Fri 07-12-18	Thu 20-12-18	$14,000.00
Analyze Background of Interested Contractors	5 days	Fri 30-11-18	Thu 06-12-18	$7,000.00
Start Bidding	2 days	Fri 21-12-18	Mon 24-12-18	$2,800.00
Assess All Bids	2 days	Tue 25-12-18	Wed 26-12-18	$2,800.00
Select a Reasonable Bid	1 day	Thu 27-12-18	Thu 27-12-18	$1,400.00
Place Contract Based on Bid	1 day	Fri 28-12-18	Fri 28-12-18	$1,400.00
Insert Budget and Time Clauses in Contract	1 day	Mon 31-12-18	Mon 31-12-18	$1,400.00
Sign Contract and Hire Contractor	2 days	Tue 01-01-19	Wed 02-01-19	$2,800.00
Hand Over Land to Contractor	4 days	Thu 03-01-19	Tue 08-01-19	$5,600.00
Hire Architect	5 days	Fri 30-11-18	Thu 06-12-18	$7,000.00
Prepare Blueprint of the Building	10 days	Fri 07-12-18	Thu 20-12-18	$14,000.00
Approve the Blueprint	4 days	Fri 21-12-18	Wed 26-12-18	$5,600.00
Approval to Proceed to Construction	2 days	Wed 09-01-19	Thu 10-01-19	$4,000.00
Project Initiation	25 days	Fri 11-01-19	Thu 14-02-19	$105,000.00
Develop Project Charter	6 days	Fri 11-01-19	Fri 18-01-19	$14,000.00
Determine the Scope of the Entire Project	2 days	Fri 11-01-19	Mon 14-01-19	$2,800.00
Determine an Estimated Schedule for Project	4 days	Tue 15-01-19	Fri 18-01-19	$5,600.00
Determine Final Budget for Project	4 days	Tue 15-01-19	Fri 18-01-19	$5,600.00
Assess Risks Associated with the Project	15 days	Mon 21-01-19	Fri 08-02-19	$21,000.00
Hire Construction Workers	5 days	Mon 21-01-19	Fri 25-01-19	$4,000.00
Hire Construction Vehicles	5 days	Mon 21-01-19	Fri 25-01-19	$19,000.00
Purchase Construction Materials as Required	5 days	Mon 21-01-19	Fri 25-01-19	$39,000.00
Finalize the Project	4 days	Mon 11-02-19	Thu 14-02-19	$8,000.00
Project Execution	166 days	Fri 15-02-19	Fri 04-10-19	$160,000.00
Land Clearing	38 days	Fri 15-02-19	Tue 09-04-19	$10,000.00
Excavate the Land	10 days	Fri 15-02-19	Thu 28-02-19	$2,500.00
Clear Weed, Plants, Waste and Existing Stones and Concrete Chunks	3 days	Fri 01-03-19	Tue 05-03-19	$2,500.00
Build the Foundation of the Building	20 days	Wed 06-03-19	Tue 02-04-19	$2,500.00
Place Soil on Land	5 days	Wed 03-04-19	Tue 09-04-19	$2,500.00
Build Infrastructure	50 days	Wed 10-04-19	Tue 18-06-19	$50,000.00
Start Building the Overall Infrastructure	15 days	Wed 10-04-19	Tue 30-04-19	$12,500.00
Place Iron Rods and Strong Concrete	30 days	Wed 01-05-19	Tue 11-06-19	$12,500.00
Install Initial Electrical Connections through the Infrastructure	5 days	Wed 12-06-19	Tue 18-06-19	$12,500.00
Install Water Pipes	5 days	Wed 12-06-19	Tue 18-06-19	$12,500.00
Doors and Windows	8 days	Wed 22-05-19	Fri 31-05-19	$3,750.00
Cut Out Walls for Doors and Windows	4 days	Wed 22-05-19	Mon 27-05-19	$1,250.00
Cut Out Air Vents	2 days	Wed 22-05-19	Thu 23-05-19	$1,250.00
Place Door and Window Frames	4 days	Tue 28-05-19	Fri 31-05-19	$1,250.00
Concrete and Plastering	53 days	Wed 01-05-19	Fri 12-07-19	$18,750.00
Apply Concrete on Bricks	15 days	Wed 01-05-19	Tue 21-05-19	$6,250.00
Plastering	15 days	Mon 03-06-19	Fri 21-06-19	$6,250.00
Dyring of the Plaster	15 days	Mon 24-06-19	Fri 12-07-19	$6,250.00
Additional Works	35 days	Mon 15-07-19	Fri 30-08-19	$25,000.00
Plumbing Works in the Entire Building	10 days	Mon 15-07-19	Fri 26-07-19	$5,000.00
Electrical Works in the Entire Building	10 days	Mon 15-07-19	Fri 26-07-19	$5,000.00
Install Various Equipments	10 days	Mon 29-07-19	Fri 09-08-19	$5,000.00
Install Safety Equipments	10 days	Mon 12-08-19	Fri 23-08-19	$5,000.00
Install Doors and Windows	5 days	Mon 26-08-19	Fri 30-08-19	$5,000.00
Colour	10 days	Mon 02-09-19	Fri 13-09-19	$12,500.00
Apply Interior Colours	10 days	Mon 02-09-19	Fri 13-09-19	$6,250.00
Apply Exterior Colours	10 days	Mon 02-09-19	Fri 13-09-19	$6,250.00
Monitoring of the Entire Building	10 days	Mon 16-09-19	Fri 27-09-19	$36,000.00
Project Handover	5 days	Mon 30-09-19	Fri 04-10-19	$4,000.00
Project Review and Termination	27 days	Mon 07-10-19	Tue 12-11-19	$36,000.00
Submit the Documentation of the Project	10 days	Mon 07-10-19	Fri 18-10-19	$8,000.00
Submit the Final Expense Report	5 days	Mon 21-10-19	Fri 25-10-19	$4,000.00
Review Entire Project	5 days	Mon 28-10-19	Fri 01-11-19	$10,000.00
Complete Payments	5 days	Mon 04-11-19	Fri 08-11-19	$10,000.00
Termination of the Project and Sign Off	2 days	Mon 11-11-19	Tue 12-11-19	$4,000.00

Quality is an essential requirement in any project and irrespective of schedule or budget set in the project, the parent organization always expects the best quality in the project. In order to provide a benchmark of quality and ensure the benchmark is followed for the project, the organizations generally develop a set of quality standards that must be met throughout the course of the project. ABC Banking Ltd. has also set a series of quality standards and requirements that are discussed as follows.

Building Framework and Infrastructure – It has been seen in numerous construction projects around the world, due to the fault of dishonest contractor or resource vendor, poor quality materials were used that ultimately resulted in disastrous consequences including loss of life for a huge number of people. Hence, ABC Banking Ltd. has set a particular standard for the quality of materials that will be used to develop the new office building and has commissioned a quality testing program in which the quality of the materials will be tested before purchase from the vendor. Failure to pass the materials through this testing program will lead to the termination of the contractor.

Nature of the Building – Based on the requirement of the project, ABC has set a specific standard regarding the nature of building to be built. As per the building, the ground floor of the building will be rented out to shops and rest of the floors will be used as offices. As a result, the interiors of the building must be able to fulfil these requirements and should not be built based on residential building architecture. Again, while the building will be five storeyed, there are certain legal and government guidelines regarding the optimum height of a building in the specific region and the nature of the building including its safety exits, security plan and others. While constructing the building, the contractor must ensure these requirements are fulfilled or else, there will not only be penalty or termination but also legal action for not abiding by legal guidelines.

Additional Requirements – In addition to the main quality requirements, there are some other quality factors that also need to be fulfilled. These factors include suitable electrical connections that will be safe, water connections for supplying water to all the floors of the office, smoke and air vents, sprinklers, air conditioner chambers and others. The entire construction process must be done by fulfilling these quality requirements.

Objectives of the Project

Like all projects, this particular project also has its own risks that must be assessed and managed before it is too late. The risk management plan for the project has been developed as follows.

Risk Description	Chance of Occurrence	Effect on Project	Management Plan
During project, there might be major accidents causing severe health damage to the workers	High	High	Due to life risk, this must be managed effectively and efficiently. While all types of the safety guidelines must be followed and all safety measures taken, there should be a first aid camp at the site and the injured workers must be immediately transported to a nearby hospital
Budget might be a risk if there is overspending and no check in the expenses	Medium	Very High	While signing the contract, a budget clause is to be inserted so that the company does not need to overpay during the project. Furthermore, there should be regular monitoring regarding the expenses to ensure the fund is not wasted for additional out of scope requirements.
Legal Risk	Low	Catastrophic	While construction license is earned at the start of the project, the contractor may not follow the standard construction guidelines that have been set legally. As a result, the project may get terminated by the court and sealed from further use or construction. Hence, it must be ensured that all the legal guidelines are perfectly followed throughout the course of the project.

The stakeholders in the project and their roles are described in the following table.

Name	Designation	Role
Bruce	Director of Project	Controlling, managing, monitoring and approval of project
Clarke	Finance Manager	Managing the financial aspects of the project
Barry	Supervisor	Supervision of the entire project, reporting
Hal	Construction and Expansion Manager	Managing the construction part of the project
Arthur	Contractor	Hiring labour, managing the construction process

Based on the roles and duties, in order to ensure smooth running of the tasks, a suitable communication plan is necessary. This communication plan is developed as follows.

Stakeholder	Communication Reason	Frequency of Communication	Mode of Communication
Director of Project	Any need for approval, change or reporting	Weekly	Face to face meeting / email
Finance Manager	Financial requirements	As required	Finance reports
Supervisor	Any problems and issues faced during project that require attention of the organization	As required	Face to face meeting
Construction and Expansion Manager	Any construction requirements	As required	Written report
Contractor	Guidance during project	Daily	Telecommunication

Conclusion

This report is essentially based on the selected project for ABC Banking Ltd. The company wants to expand further due to its rapid growth and has decided to construct a new office building after a particular piece of land is purchased. Based on the initial planning of the company, this report has been developed to critically discuss the portfolio management process and then develop an appropriate schedule, work, breakdown structure, network diagram and cost estimations.

Binder, J., 2016. Global project management: communication, collaboration and management across borders. Routledge.

Cha, J., Newman, M. and Winch, G., 2018. Revisiting the project management knowledge framework: Rebalancing the framework to include transformation projects. International Journal of Managing Projects in Business.

Crawford, J.K., 2014. Project management maturity model. Auerbach Publications.

Eskerod, P. and Jepsen, A.L., 2016. Project stakeholder management. Routledge.

Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.

Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach. Routledge.

Heagney, J., 2016. Fundamentals of project management. Amacom.

Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley & Sons.

Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.

Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), pp.1377-1392.

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley & Sons.

Larson, E.W., Gray, C.F., Danlin, U., Honig, B. and Bacarini, D., 2014. Project management: The managerial process (Vol. 6). Grandview Heights, OH: McGraw-Hill Education.

Leach, L.P., 2014. Critical chain project management. Artech House.

Lientz, B. and Rea, K., 2016. Breakthrough technology project management. Routledge.

Lock, D., 2017. The essentials of project management. Routledge.

Marcelino-Sádaba, S., González-Jaen, L.F. and Pérez-Ezcurdia, A., 2015. Using project management as a way to sustainability. From a comprehensive review to a framework definition. Journal of cleaner production, 99, pp.1-16.

Marchewka, J.T., 2014. Information technology project management. John Wiley & Sons.

Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.

Meredith, J.R., Mantel, S.J., Shafer, S.M. and Sutton, M.M., 2014. Project management in practice. Wiley.

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.

Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology. Routledge.

Schwalbe, K., 2015. Information technology project management. Cengage Learning.

Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015. Construction project management. John Wiley & Sons.

Serra, C.E.M. and Kunc, M., 2015. Benefits realisation management and its influence on project success and on the execution of business strategies. International Journal of Project Management, 33(1), pp.53-66.

Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature review with a critical look at the brave new world. International Journal of Project Management, 33(2), pp.278-290.

Todorovi?, M.L., Petrovi?, D.?., Mihi?, M.M., Obradovi?, V.L. and Bushuyev, S.D., 2015. Project success analysis framework: A knowledge-based approach in project management. International Journal of Project Management, 33(4), pp.772-783.

Too, E.G. and Weaver, P., 2014. The management of project management: A conceptual framework for project governance. International Journal of Project Management, 32(8), pp.1382-1394.

Turner, J.R., 2014. Handbook of project-based management(Vol. 92). New York, NY: McGraw-hill.

Turner, R., 2016. Gower handbook of project management. Routledge.

Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.

Walker, A., 2015. Project management in construction. John Wiley & Sons.

Turn in your highest-quality paper
Get a qualified writer to help you with

“ Project Management For Construction Of Office Building – ABC Banking Ltd. ”

Get high-quality paper

NEW! AI matching with writer

Order an Essay Now & Get These Features For Free:

Turnitin Report

Formatting

Title Page

Citation

Outline

Place an Order