Project Management For Repair Works At Vopak Tank Farm, Houston Ship Channel

Budget Planning

This assignment is aimed at providing essential scheduling, cost, and resource management options based on building and construction operations. It is a major important aspect that suitable project management concepts and techniques are relevant for formulating effective operational decisions. The project management principles are efficient for implementing more advanced yet innovative list of operations (Brown et al. 2016). This particular assignment is useful for providing appropriate business decision-making and proper situation analysis with budget and resource management (Everett et al. 2017). Milestones and scheduling is added in the assignment for providing overview of the activities and how those should be completed to reach towards the business objectives.

Furthermore, the assignment is prepared to study a particular case scenario for Vopak tank farm, Houston Ship Channel. Main deliverable is to re-construct and repair existing three tanks in Vopak tank farm, Houston Ship Channel. Moreover, the critical evaluation is conducted in the assignment for better insights of project management application and achievement of deliverables.

Table 1: Budget planning

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Budget planning is prepared as per some assumptions in practice for projects. The assumptions are mentioned as following:

1. The cost is estimated as per individual cost of steel anchors, patches, as well as cleaning cost in the project.
2. Stakeholder wages are not included in this budget planning as repairing cost is primary concern for the project completion.

Table 2: List of resources and their work hours as per Scheduling

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The work assumptions for the project are taken as:

1. The workers work for 5 days in a week taking Saturday and Sunday as fixed off.
2. The standard rate for the project manager should be higher than other as they provide more effort in the project.
3. Planning engineer should consist of higher rate of $15.00 hr.
4. Three of the workers should consist of $10 or more than $10/hr as standard rate.
5. Each of the resources are working for 8 hours/day.

The schedule planning is prepared along with following timeline setup (Love et al. 2014). The timeline shows major activities along with setting suitable time with sub-activities.

Table 3: Schedule Planning

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Figure 4: Gantt chart

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The model provides a framework for the project activities in order to deliver quality system to meet with business expectations and manage of decisions. The life cycle consists of five phrases such as planning, analysis, design, implementation and maintenance. This particular project work is also developed with use of this life cycle model (Sippel et al., 2015). The benefits of this model are that formal review is done at end of each of the phrases. It creates system documentation. The documentation makes sure that the system requirements are traced with the business requirements. Schedule development becomes easier as it helps to manage the activities of the project (Brown et al. 2016). Therefore, use of Ms Project becomes easier with use of SDLC functions. Disadvantage is that documentation is expensive and it is time consuming. The users are not able to evaluate the products as well as assess of the particular product if they meet with business requirements. The project objectives should meet with the client’s requirements.

Ms Project is used for this particular project work for developing the plan, assigning of the resources to their respective tasks, tracking the project progress, managing the project budget and analyzing the workloads. It creates of budget for each of the project activities as well as rate of resources (Everett et al. 2017). As well as the resources are assigned to the tasks, then there is a calculation of cost based on their work rates. In order to calculate the total time taken to complete the project, Gantt chart is used for evaluation of the project activities. Project timeline helps to estimate the total duration and track the project progress. As compared to other tool, Ms Project usage is very efficient to meet with project objectives. With use of this particular Ms-Project software, time phase budget, WBS, Gantt chart as well as critical path are analyzed easily.

Resource planning is prepared while considering each activity along with durations (Loh and Loh 2016). The primary resources are included in the project as Project Manager, Planning Manager, Construction Engineers, Construction Architects, Technicians, Supervisors, Contractor, Workers, and Government.

Table 5: Resource Planning and allocation

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Conclusion 

From this assignment, the conclusion can be drawn that use of project management techniques and tools can increase development with faster outcomes. The assignment stated that major outcomes can be operational with project once, the approval is confirmed. Principles of construction industry are supplemented with suitable operations and activities.

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