Project Management of Operators For Large Assets
Added on 2020-03-16
12 Pages2489 Words134 Views
|
|
|
Running head: PROJECT MANAGEMENT OF OPERATORS FOR LARGE ASSETSProject Management of Operators For Large AssetsName of the StudentName of the UniversityAuthor Note
1 PROJECT MANAGEMENT OF OPERATORS FOR LARGE ASSETSTable of Contents1. Project Definition.............................................................................................................22. Project Justification and the Contract Process.................................................................23. The project Financing......................................................................................................34. Project Condition, the project team and the project process...........................................45. Expected Estimates..........................................................................................................66. Requirements of Project changes.....................................................................................67. Requirements of Quality Assurance and Quality Control...............................................78. Requirements for document management, reporting and governance............................89. Requirements for disputes, Arbitration and mediation....................................................910. Requirements for Safety................................................................................................9References..........................................................................................................................11
2 PROJECT MANAGEMENT OF OPERATORS FOR LARGE ASSETS1. Project Definition Asset management is one of the major features of project management. Regularinvestment for asset management is necessary to multiply the growth of the company.Companies can build different warehouses, purchase new equipments for manufacturing theproducts and increase the efficiency of the assets. Therefore, the project of controlling largeassets should particularly include hiring a team of experienced professionals for undergoing anintegrated feasibility study of the asset management along with the economic evaluation and riskmanagement. Management of large assets includes the cost balancing the total costs,opportunities and the risks associated with the strategy that are being used for achieving theorganizational objectives. Management of large assets includes optimization of delivery ofvalues along with the correct decision-making (Finnerty 2013). There are different tools formanaging a large asset. Apart from this hiring the right person as a project manager is an integralpart of project management related to large assets. The project manager will be responsible forplanning and delivering the entire project. The tender document is to laid keeping in mind all thedifferent phases and the works that are associated with the construction work that includes themanagement of large assets. 2. Project Justification and the Contract Process The project is justified as the scope and the requirements of the project are clear. Thedifferent areas of construction are to be identified along with the place of storing and accessingthe assets. The project tender includes the detailed analysis of the project condition and the otherproject requirements, which includes the salary and wages of the project team and scope of theproject process. The management of different resources and ensuring the resource availability in
3 PROJECT MANAGEMENT OF OPERATORS FOR LARGE ASSETSneed is another major criterion of the tender document. The contract type for the project ischosen according to the project requirements. The contract type that is recommended for this project is a cost plus contract. This isbecause it is very difficult to set a particular schedule for project management using large assets(Brandes et al. 2012). The cost plus contract includes the payment of the costs, purchases and theother expenses that are generally derived from the construction activity. It is subjected to theavailability of the specific information about the certain pre negotiated amount between theowner and the contractor. This negotiation includes a percentage of the materials needed in theproject and the labor cost of the project as well. The major advantage of cost plus contract is thatthe cost of the project is classified and the beginning of the project as direct or indirect cost. Theowner will be responsible for putting a limit on how much the contractor is billing for the entireproject work. The cost detailing is an integral part of a cost plus contract. The tender includes thedetails and the procedure of billing according to a cost plus contract. Furthermore it includes anoption of modifying the scope of the project if required, which is impossible in the case of afixed type contract. 3. The project Financing The appropriate project financing can be done by carrying out a proper feasibility studyand the correct identification of the project requirements. Employing a team of project financespecialist is necessary for developing a proper project financing according to the project’s needs.Determining the feasibility of the project is another basic requirement of the project financing.Another important part of the project financing includes the identification of the different sourcesof energy that would be used in the project work related to the management of large assets. The
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Project Management on Large Assetslg...
|9
|1719
|64
Tender Request for Large Asset Project: Definition, Justification, Financing, Requirements, Safetylg...
|9
|1578
|126
Tender Request for Large Assets Projectlg...
|13
|2971
|174
Tender Request for Large Assets - Deskliblg...
|17
|4288
|100
Tender and Contract Management for Construction of a Large Thermal Solar Power Plant in NSWlg...
|15
|4198
|493
Project Management for Operators of Large Assetslg...
|14
|3965
|293