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Running head: EVALUATION OF REAL WORLD PROJECT Evaluation of real world project Name of the Student: Student ID: I hold a copy of this assignment that can be produced if the original is lost/damaged. To the best of my belief, no part of this assignment has been copied from any other student’s work or from any other source except where due acknowledgement is made in the text. No part has been written for me/us by any other person, except where such collaboration has been authorised by the lecturer concerned.
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1EVALUATION OF REAL WORLD PROJECT Executive Summary Numerous global projects all around the world are getting failed each and every due to poorly defined scope, inadequate risk management, failure to identify the challenges involved in the project, lack of effective communication. Thus, each of these factors has to be studied in a precise modus so that the chances of project failure gets reduced. There are numerous scenarios behind most of the real-world projects, and there are numerous real-world problems related to those projects as well, such as the lack of financial aid, environmental concerns, lack of support coming from the management team, and maintaining the schedule of the project. The factors which ensure the success of the mineral sand projects, such as the support from the regional government has to be focused while making the schedule of the project.
2EVALUATION OF REAL WORLD PROJECT Table of Contents Introduction................................................................................................................................3 Background of the company..................................................................................................3 Selected project case..................................................................................................................3 Criteria to measure the chosen project.......................................................................................4 Reason behind failure.............................................................................................................5 Analysis of the case....................................................................................................................5 Conclusion..................................................................................................................................7 Recommendation........................................................................................................................7 References..................................................................................................................................8
3EVALUATION OF REAL WORLD PROJECT Introduction Project success criteria are defined as the type of criteria, which is very much useful for the commercial organization to maintain the success rates of their projects (Bamberger and Mabry 2019). There are numerous factors that might play a key role in maintaining the criteria, such as the management skills of the project manager. This report shall be focussing on the Donald Project which is the largest known Zirco and Titanium project in recent times. Currently, this project is closed by its investigators as this project was not completed within their estimated schedule. The details of this failed project and the organizations related to it shall be discussed in the ensuing section of this report. Background of the company Donald deposit was supposed to be one of the biggest projects ofWimmera Industrial Minerals (WIM)(Pownceby, Bruckard and Sparrow 2020).This was one of the largest underdeveloped mineral sands project in the world. However, there were numerous challenges associated to this project as well in terms of the exploration licenses and the use of advanced processing methods. Selected project case Located in the Murray Basin of Australia,Donald Projectwas supposed to be a world class mineral sands project. There were diverse categories of offshore and onsite operationsrelatedtothisproject(KlingnerandStanding2016).ChinaMachinery Engineering Corporation(CMEC) wanted to complete this mineral sand project within USD $135M (Miningmagazine.com 2020). The project was supposed to create new job opportunitiesinAustralia(Li,RakeshandReddy2016).TheroleoftheVictorian
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4EVALUATION OF REAL WORLD PROJECT governmentof Australiawas very much criticalas they provided the environmental guidelines in terms of theEnvironment Effects Act(Hislop, Bosua and Helms 2018).Zircon sand sales in China was initiated byAstron limitedwho had the procurement, procurement and construction rights of this project (Astronlimited.com.au 2020) Criteria to measure the chosen project There are diverse criteria for the measurement of the success and failure of a project such as maintaining thescheduleof the project,satisfaction level of the stakeholders involved in the project, and maintenance of theoverall quality of the project. The success criteria’s which is being considered to evaluate the selected project are maintaining the schedule of the project and satisfaction level of the stakeholders involved in the project. According toPownceby, Bruckard and Sparrow (2020), maintaining the schedule of a project is one of the most significant criteria to measure the success or failure of a project. The researchers of this journal highlighted that tracking the changes made in a project and communicating the progress of the project are the most significant contributions of project scheduling. The researchers of this journal also highlighted that the dependencies and the deadlines of a project can be managed using project scheduling software. On the other hand, as described byMason (2016), the investors of the project must be monitoring each activity involved in a project. Their continued engagement and interest in the project is very much required for the successful completion of the complex projects. The researchers of the paper also suggested that the quality of the outcome of each phase has to be of the highest order so that the overall quality of the project is maintained. Thus, it can be said that the project schedule, satisfaction level of the investors of the project and maintaining the quality of outcome in each phase of the project are the important
5EVALUATION OF REAL WORLD PROJECT criteria’s which can be considered to analyze the failure and the success of a project. These are the criteria which is selected to analyze the selected real-world project. Reason behind failure This project is considered as a failed project as it did not finish with the schedule which was estimated prior to the start of this project. Huge amount of time was wasted to de- water the entire area where mining was required (Guzzini, Iacobucci and Palestrini 2018). Additional financial support was provided from the investors in the initial level. However, it was found that this project shall never be completed within the estimated schedule ad resources. Removal of the topsoil and the subsoil tool more time than expected. The dry mining procedure, which was considered in this project was very much complicated as a result, separate training sessions were given to workers of this project (Hugheset al.2016). The magnetic separation required during the refinement of the ore was also taking more time than it was expected. Thus, there were lots of uncertainties associated to this project and finally it called byAstron limitedas theyterminated their business contract withChina Machinery Engineering Corporation. Analysis of the case The analysis of this project shall be based on the criteria which were formed in the previous sections of this report. The total valuation of this sand mining project was USD $135M and the CMEC was the prime contractor of this project. The board of directors of Donald Mineral Sands was very much excited about the progress of the projects in its initial stages, however, the delay caused due to the use of conventional methods to process the minerals was a huge source of concern for them. There were other issues associated to this project as well, such as the delay in the purchase of the equipment, which was one of the most essential activities of this organization. The investors of this project made sure to make
6EVALUATION OF REAL WORLD PROJECT the payments on a milestone basis. On the other hand there were other investors associated with this project as well such as DMS itself, 15% of the total cost of the project came from DMS. The rights and regulatory approvals of this project was supposed to be provided from DMS, at the same time, the contractual agreements and the insurance schemes of the workers of this project were also looked after by DMS. All the issues which ultimately delayed each phase of this project was a huge source of concern for all the investors of this project. Their expectation from the project was not getting fulfilled after the initial stages of the project. Hence it can be said that the satisfaction level of the investors of this project was very much on the lower side. The quality of the initial stages of this project is very much on the higher side as every project activity was going as per the schedule of the project. However, there were issues in the long term mining plan of this project. Statutory approvals was required to minimize the environmental effects of the project as well. However, there were several disruptions after the completion of the first phase of the project as theCulture Heritage Management Plan, which was under section 49 of theAboriginal Heritage Act 2006(Winter and Brooke 1993). The schedule of this complex project was further delayed due to the lack of a Mining License, which comes from the Minister of Energy and Resources. The schedule of the project was further delayed as theRadiation Management Planof this project was rejected by the Victorian government. Thus, based on the monthly audit procedures, it was identified that the entire schedule of the project has to be revised. There are uprisings from the local communities as well as some of the native vegetation practices will be stopped after the successful completion of this project. The decision-making team again revised the entire schedule of the project, all the work plan procedures were revised, and additional funds were allocated from the prime investors of this project. However, the condition of the project was affected even after the re-scheduling of all the activities of the project. It was assumed that
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7EVALUATION OF REAL WORLD PROJECT the complications and the challenges of this project is about to increase, and it can an adverse effect on both the schedule of the project as well as on the overall quality of the final outcome of the project. Hence, on the basis of the chosen selection criteria of this project, it can be said that this is a failed project. Conclusion There are numerous factors that have to be considered in the first place prior to the start of a mineral sand project, such as the support coming from the local and the central government regarding the environmental concerns and the other legal issues. Support from the local community is very much required in a mineral sand project. There are diverse categories of challenges in these projects, and some of them cannot be identified prior to the start of the project; hence the schedule of these projects must be made accordingly. Investors of the mineral sand projects must be aware of the challenges of this project, which can help them to select the appropriate contractors. Recommendation Therecommendationsofthisreal-worldprojecttoreruninthefutureareas followings: Getting the supporting from the local government of Victoria is very much required to deal with the legal challenges of this project in terms of environmental regulations and protocols. Training sessions for the local community is very much recommended as it can help them to understand the opportunities of this project. The schedule of the project must be broke down into pieces, and there must be a long lay off period between each phase of this project.
8EVALUATION OF REAL WORLD PROJECT A clear road map must be created and shared with all the investors of the project. The roadmap must also state the assumptions, uncertainties and challenges associated with this project.
9EVALUATION OF REAL WORLD PROJECT References Astronlimited.com.au. 2020.Astron - DONALD MINERAL SANDS. [online] Available at: <http://www.astronlimited.com.au/projects-operations/DONALD-MINERAL-SANDS.aspx> [Accessed 7 April 2020]. Bamberger, M. and Mabry, L., 2019. RealWorld evaluation: Working under budget, time, data, and political constraints. SAGE Publications, Incorporated. Guzzini, E., Iacobucci, D. and Palestrini, A., 2018. Collaboration for innovation and project failure. A dynamic analysis. Economics of Innovation and New Technology, 27(8), pp.695- 708. Hislop, D., Bosua, R. and Helms, R., 2018. Knowledge management in organizations: A critical introduction. Oxford University Press. Hughes, D.L., Dwivedi, Y.K., Rana, N.P. and Simintiras, A.C., 2016. Information systems project failure–analysis of causal links using interpretive structural modelling. Production Planning & Control, 27(16), pp.1313-1333. Klingner, D. and Standing, C.A., 2016. WIM150 mineral sand deposit, Murray Basin, Australia: geology and mineral resources. Applied Earth Science, 125(3), pp.121-127. Li,Y.,Rakesh,V.andReddy,C.K.,2016,February.Projectsuccesspredictionin crowdfunding environments. In Proceedings of the Ninth ACM International Conference on Web Search and Data Mining (pp. 247-256). Mason, A.J., 2016. The history of mineral sands in the Murray Basin ‘Is it a new mineral sand frontier-or just more of the same?’. Applied Earth Science, 125(3), pp.114-120.
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10EVALUATION OF REAL WORLD PROJECT Miningmagazine.com. 2020.Australian Mineral Sands Project Gets Chinese Contractor. [online]Availableat: <https://www.miningmagazine.com/development/news/1262495/australian-mineral-sands- project-chinese-contractor> [Accessed 7 April 2020]. Pownceby, M.I., Bruckard, W.J. and Sparrow, G.J., 2020. Technological developments in processing Australian mineral sand deposits. Journal of the Southern African Institute of Mining and Metallurgy, 120(2), pp.105-112. Pownceby, M.I., Bruckard, W.J. and Sparrow, G.J., 2020. Technological developments in processing Australian mineral sand deposits. Journal of the Southern African Institute of Mining and Metallurgy, 120(2), pp.105-112. Winter, I. and Brooke, T., 1993. Urban Planning and the Entrepreneurial State: The View from Victoria, Australia.Environment and Planning C: Government and Policy, 11(3), pp.263-278.