PPMP20013 Project Management for Operators of Large Assets: Consolidated Portfolio

PPMP20013 PROJECT MANAGEMENT FOR OPERATORS OF LARGE ASSETS -
CONSOLIDATED PORTFOLIO
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Table of Contents
Introduction......................................................................................................................................3
Course Learning Outcomes.............................................................................................................4
1. Review using clear terminology the key areas and processes of project, program and
portfolio management practices as applies to asset rich organisations........................................4
2. Discuss the relevance of tools and techniques for investigating and describing project
process related to developing new workings, facilities, equipment, plant and processes for
justifying, designing, developing, or maintaining existing facilities and equipment within the
context of their technological and asset lifecycle status..............................................................5
3. Present and interpret major processes that are based on sound policy, information, and
research that enable project justification, tenders, contracts, and selection criteria to occur in
an asset rich organisation.............................................................................................................6
4. Critically analyse management strategies and operational activities from a broad perspective
to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and
to make decisions to discontinue or close projects......................................................................7
5. Demonstrate an effective, professional level of teamwork and communication and support
collaborative peer group learning................................................................................................8
Discussions and Conclusions...........................................................................................................9
References......................................................................................................................................12
Appendix........................................................................................................................................13
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Introduction
Projects are undertakings executed in order to achieve the desired objectives and aims of the
ventures. Projects are defined as a group of various business processes and tasks for determining
the execution of processes. Projects can be large scaled and often require huge assets and
resources for completion and successful execution of the processes. Projects also deploy
resources of large values which are accompanied by advanced technology and modified
processes in order to ascertain the derivable of the project and its ancillary processes. Project
management is required in order to execute effective processes and functions (Bloch, et. al.,
2012). Projects in large scale boundaries require a greater number of resources and equipment
along with increased number of human and engineering resources. Projects apply techniques and
project management methodologies such as Project Management Information System, Linear
Production, Prince2, and System thinking etc. (Karaman & Kurt, 2015). The portfolios
undertaken in this assessment has increased my knowledge and information in various aspects
and dimensions of project management.
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Course Learning Outcomes
1. Review using clear terminology the key areas and processes of project, program and
portfolio management practices as applies to asset rich organisations.
Introduction
Project, portfolio and program management includes various management practices and policies
in various areas and key processes. The projects require for implementation and execution of
proper management theories and practices for planning and programming the project activities
and functions. Project management also requires for deploying the management theories in the
financial aspect of the project management.
Summary
The projects as vast as the Brisbane New Parallel runway require various terminologies in the
key areas and processes for effective execution. For projects acquiring rich assets and resources
proper management and planning is required (Love &Irani, 2003). The project managers apply
for techniques such as the arbitration and negotiation for change management and reducing the
conflicts between the stakeholders and the project teams.
Evidence
Projects also require terminologies such as change management and conflict resolution. The
projects apply techniques and approaches of change management and conflict management in
order to eradicate the conflicting aims and objectives in the project (Stevenson & Hojati, 2007).
These terminologies and approaches are also applied in order to increase the integration between
the stakeholders and the project investors.
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