logo

Project Management Report for Tank Farm

   

Added on  2021-04-24

14 Pages2688 Words9 Views
Running head: PROJECT MANAGEMENTProject ManagementName of the StudentName of the UniversityAuthor Note

1 PROJECT MANAGEMENTTable of Contents1. Project Budget.................................................................................................................22. The Project Schedule.......................................................................................................43. Resource Requirements...................................................................................................7References..........................................................................................................................12

2 PROJECT MANAGEMENT1. Project BudgetThe project is undertaken in order to repair the fuel tanks of the storage capacity inWestern Australia. This is essential as 30% of the company’s unleaded petrol is bordering oncollapse due to the age and condition of the tanks. The Condition of the tanks is over 50 yearsold with a complex and outdated design. Therefore renovation of the tanks is essential and the,budget has been proposed for implementation of the project (Maravas & Pantouvakis, 2012).The project budget is represented in the following table. Task NameCostRenovation of the oil tanker storage$867,800.00 Project Starts$0.00 Requirement Analysis$1,920.00 Meeting with Client for discussion on repairing start date$640.00 Knowing basic Requirements of the client in repairing the tanks$1,280.00 Planning$4,800.00 Understanding the Technical Requirements and the resource requirements$1,280.00 Budget calculation for the resources$2,240.00 Documenting the Requirements$640.00 Drafting the documents for Client's Approval$640.00 Implementation/ Renovation of the Tanks$858,680.00 Repairing works on Tank 1$267,640.00 Working on 4 Steel Patch$30,000.00 Working 4 Steel anchor on top of the tank$35,000.00 Cleaning the tank$600.00 Repainting the Tank$202,040.00 Repairing Tank 2$274,240.00 working on 7 Steel Patch$35,800.00 Working on 4 Steel anchor $35,800.00 Cleaning the tank$600.00 Repainting the Tank$202,040.00 Repairing Tank 3$316,800.00 Working on 6 steel patch$22,000.00 Working on 4 Steel anchor on top of the tank$37,000.00 Replacing the main water supply valve of the tank$52,000.00

3 PROJECT MANAGEMENT Cleaning the tank$2,400.00 Repainting the Tank$203,400.00 Project Handover$2,400.00 Documents Handover$800.00 Documents Archive$0.00 Payment completion$960.00 Resource Release$640.00 Client Feedback$0.00 Client Sign off$0.00 Project Ends$0.00Table 1: The Project Budget(Source: Created by author using MS Project)The budget is prepared with the help of activity based budgeting. This budgeting uses the volumeof a particular activity in developing a project budget. Apart from this, the difficulty in accessingthe tanks is considered while estimating this budget. The assumptions made while preparing this budget are as follows- 1. The budget includes the cost of materials and labor cost. 2. The rate of the wage of the workers will remain unchanged throughout the projectimplementation phase. 3. The schedule will not hamper the normal operation of the tank4. The budget estimated will be sufficient to implement the project. 5. The materials needed will be easily accessible during the project implementation(Khodakarami & Abdi, 2014.).

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Project Management - Project Budget
|14
|2926
|162

Assignment on Project Management (pdf)
|15
|2685
|57

Project Budget, Schedule and Resources
|22
|2559
|400

Project Management Assignment Sample (Docs)
|10
|1729
|177

Project Management Project Management Project Management Name of the University Author
|8
|1734
|427

Options for Repairing Storage Tank for Oil Shipment
|3
|838
|334