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Project Risk, Finance, and Monitoring - Assignment

   

Added on  2020-10-22

18 Pages4238 Words124 Views
Project risk, finance, and monitoring

Table of ContentsINTRODUCTION...........................................................................................................................1PART-A...........................................................................................................................................1PART B............................................................................................................................................8PART C: RISK MITIGATION PLAN............................................................................................1REFERENCES................................................................................................................................5

INTRODUCTIONThe report will include about the road construction project which explains about theoverall budget, benefits and drawback of the project. The report also includes the different typeof risks affecting the project and the principle of project management body of knowledge whichhelps in effective accomplishment of the project.PART-AOverall budget of the projectNorth East Link is the biggest project of road transport in Victoria's entire history. Theyfocusing on fixing the missing link in Melbourne's freeway of network. The overall budget forthe project is $100 million for preliminary sites investigations, engineering works, environmentaland geotechnical studies, initial designs, and preparing a business case etc. is given by theVictorian government. The overall budget will be targeted for expenses for the project. ThVictoria government plans to build the missing link road network so that it can slash congestionin Melbourne's.Benefits/Advantages of projectThere are many benefits of implementing the project that is establishing the link roadnetwork and it will help in providing many befits and advantages which includes:Slashing traffic and Travel timesThe link road will help in slashing the travel time between the Melbourne's north andsouth east up to the 30 minutes.It will take around 15000 trucks off local roads a day,through new technology, traffic management will get betterSeamless trips from Doncaster, ring wood to Melbourne's airport.Benefiting with the additional lanes on te eastern freeway which will leads to eliminatesome Melbourne's worst bottlenecks.Creating walking and cycling connectionsThis project helps in providing and delivering more than 25 k ms of new and updatespaths for walking and cycling.Benefiting walkers and bike riders by providing more signalized crossings and byupgrading bridges(Fleming and Koppelman, 2016)Kerzner, 20181

completing North east bicycle corrie which is an computer cycling route directs to thecity along with the Eastern freeway between the Chandler highway and Merri Creek,Improving the public transportProject will help in implementing and establishing the new park and ride at Bulleen.Leads to build the Melbourne's first bus way along the Eastern freeway,It helps in improving the access and upgrading the car parking at Watsonia station.Contributing towards the growth of the industry and the economyThis project resulting in more employment opportunities that is they creating more than10000 jobs.It accesses to 56000 more jobs opportunities for the workers of north east whichultimately helps in improving their standard if living and lades to satisfactory of etherneeds and wants,Annul income $427 million boost from better freight connectivity,disadvantagesIt leads to wastage of many resources including financial resources as large amount ofbudget is passed for this project which affects the financial economy,jobs provided to the workers are temporary till the projects completed and afterunemployment will arise(Heagney, 2016),heavy cost incurred on building the roads, bridges, tunnels etc,Any misuse or inadequate utilization of result will lead to the great failure. Not utilizing the resources optimally and efficiently might cause damage to the public inthe future.It includes heavy cost of construction.It requires high skilled workers in given fields as any single mistake can cause danger tothe public health.Project scope with reference to what is being builtKerzner and Kerzner, 2017The project scope is to provide effective services by fixing the missing link in Melbourne'sfreeway of network. the project having grate scope as it is ultimately benefiting the economy ofthe nation and improving the infrastructure which helps people in their comfort and ease. It alsohelps in slashing the traffic and travel time, slashing of traffic leads to easy and convenientmovement of road transport vehicles and will lead to avoidance of the accidents which areKerzner, 20182

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