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Assignment on Project Management (pdf)

   

Added on  2021-04-19

15 Pages2685 Words57 Views
Running head: PROJECT MANAGEMENTProject ManagementName of the StudentName of the UniversityAuthor Note

1 PROJECT MANAGEMENTTable of Contents1. Project Budget.................................................................................................................22. Milestone and Project Schedule.......................................................................................33. Resources Required.........................................................................................................8References..........................................................................................................................12

2 PROJECT MANAGEMENT1. Project Budget A project has been undertaken in order to prevent leakages of the Tank due to which the30% of the ULP storage capacity of Western Australia is on a verge of collapse. Furthermore, theorganization has been paying $20,000 per month as environmental fines due to the leakage. Thecondition of the tanks is critical mainly due to its age as the tanks are over 50 years old.Therefore, repairing the tanks is essential in order to prevent the collapse of 30% of thecompany’s capacity of unleaded petrol. The project budget is represented in the following table(Walker, 2015)- Task NameCostFuel Tank Repairing$774,616.00 Project Starts$0.00 Planning Stage$18,528.00 Analysing the Requirements $4,368.00 Schedule Estimation$11,040.00 Budget and Resource Estimation$3,120.00 Documenting the Requirements$0.00 M1: End of Planning and Requirements Gathering$0.00 Repairing Work Implementation$750,760.00 Working on Tank 1$231,200.00 Fixing the 4 steel patches $13,600.00 Adding 4 Steel anchor on top of the tank$30,000.00 Cleaning the outside of Tank$3,600.00 Repainting the Tank after cleaning $184,000.00 M2: Completion of Work on Tank 1$0.00 Working on tank 2$237,560.00 Fixing seven steel patches on the Tank$18,280.00 Working on the steel anchor$31,680.00 Cleaning works done$3,600.00 Repainting the outside of the Tank$184,000.00 M3: Completion of Work on Tank 2$0.00 Working on Tank 3 $282,000.00 working on six steel patches $23,000.00 Working on the 4 anchors$35,000.00 Replacing the supply Valve$36,400.00 Cleaning the Tank$3,600.00

3 PROJECT MANAGEMENT Repainting the outside of the Tank$184,000.00 M4: Completion of Work on Tank 3$0.00 Project Completion and Handover$5,328.00 Checking whether the leakage has been fixed$2,208.00 Documenting the project work$0.00 Payment completion$1,872.00 Resource Release $1,248.00 Client Sign off$0.00 Feedback and improvements $0.00 M5: End of Project$0.00Table 1: The prepared budget(Source: Created by author using MS Project)An activity based budgeting technique is used to prepare this budget for the project. The cost ofmaterials and the labours are considered while preparing this budget. The main assumptionsassociated with this budget are as follows (Saadé, Dong & Wan, 2015)- 1. It is assumed that the rate of wages of the labourers will remain constant till projectcompletion. 2. The materials that are needed will be readily available during the project implementation. 3. No extra requirement will be added while project implementation. 4. The entire budget prepared will be sufficient for covering all the requirements identified in theproject planning stage (Maravas & Pantouvakis, 2012). 2. Milestone and Project ScheduleRepairing, cleaning and repainting all the three tanks are the main objectives of theproject. The schedule prepared for implementing the project is represented in the following table

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