Project Execution Planning and Management 2022

Running head: PROJECT EXECUTION PLANNING AND MANAGEMENT
Project Execution Planning and Management
Name of the student:
Name of the University:

1PROJECT EXECUTION PLANNING AND MANAGEMENT
Table of Contents
1. Selected project and Target Company........................................................................................3
2. Background of the case project....................................................................................................3
3. Recommendation for best delivery method.................................................................................3
3.1 Design bid build.....................................................................................................................3
3.2 Design build...........................................................................................................................4
3.3 CM@Risk..............................................................................................................................4
3.4 Selection matrix for the best project delivery method...........................................................5
4. Different financial contract types................................................................................................6
4.1 Lump sum contract................................................................................................................6
4.2 Guaranteed maximum price contract.....................................................................................6
4.3 Cost-Plus Fixed Fee Contract................................................................................................6
4.4 Justification and explanation.................................................................................................7
5. Recommendation for best procurement method..........................................................................8
5.1 Competitive............................................................................................................................8
5.2 Negotiated..............................................................................................................................8
5.3 Best Value..............................................................................................................................8
5.4 Justification............................................................................................................................9
6. Risk management plan...............................................................................................................10
6.1 Risk register.........................................................................................................................10
6.2 Risk Quadrant Analysis.......................................................................................................10
6.3 Risk mitigation.....................................................................................................................11
References......................................................................................................................................12

2PROJECT EXECUTION PLANNING AND MANAGEMENT
1. Selected project and Target Company
“Dominion Virginia Power Bear Garden Power Generating Station - EPC project
Operated by Fluor Australia Pty Ltd Construction Company
2. Background of the case project
In order to delivery any project on time and within budget contract sign up, bidding,,
tender and negotiation based on clients requirements are very essential. The company targeted
for the paper is Fluor Australia Pty Ltd, which is one of the largest construction companies in
Australia and the target project is “Dominion Virginia Power Bear Garden Power Generating
Station - EPC project”.
This bear garden power station is a plant of 590 Megawatt. Within the Two-on-one
structure, two turbines are installed for generate electricity. In order to fulfill the growing
demand of clean energy all over United States this project is initiated. For this project, Fluor
Australia Pty Ltd Construction Company is targeted because Virginia is the second largest
electric power importers in United States. In order to develop the project the best delivery
method, risk management plan, financial contract types and procurement method are evaluated
below.

3PROJECT EXECUTION PLANNING AND MANAGEMENT
3. Recommendation for best delivery method
3.1 Design bid build
Design bid build is one of the traditional and widely used project delivery methods uses
by the construction industry. In this method the owner has to contract the architect, civil
engineers, designers, contractors and sub contractors individually. As soon as the architect and
designer completed the design outline and completes the design documentation the owners
moves further towards the contractor for bidding and make the work done (Yu, Shen and Shi
2017). As in this types of contracts the designer does not get opportunity to directly interact with
the contract thus if any risk occurs then owner become responsible to bear all the potential risks
whenever the contractor asks for the design documents.
3.2 Design build
In this delivery method the design build team work under the project contractor and
project owner as well to give services to the clients. This is an essential alternative of the design
bid build delivery method. It helps to connect the project management activities with reduced
risks and faster delivery (Carpenter and Bausman 2016). It giver better quality services and also
decreases the rate of administrative burden. The profit margins are usually higher for this type of
delivery methods and it also increases the market share.
3.3 CM@Risk
In this project delivery method at first the owner selects and keeps the design firm, which
is completely similar to the design bid build process. The selection of the design firms is based
on the qualification price and other criteria expected by the project owner. In this method once
the designed is selected the project start getting progress with the very initial stage of design. In