Project Management: Budget and Schedule for Tank Repair in Oil Company

This report presents a comprehensive project management plan for repairing oil storage tanks for a multinational oil company in Australia facing financial losses due to leakage. The report includes a detailed budget plan covering various tasks such as leakage repair, painting, site visits, scope analysis, and project execution. It outlines resource allocation, including contractors, workers, cleaning materials, and equipment, along with associated costs. The project schedule spans 73 days, starting on September 10th and concluding on December 19th, detailing task durations and dependencies using MS Project. Additionally, a resource sheet provides information on resource types, costs, and allocation. The report identifies the critical path for project completion and includes a Gantt chart for visual representation of the project schedule.

Running head: PROJECT MANAGEMENT
Project Management
Name of Student-
Name of University-
Author’s Note-

1PROJECT MANAGEMENT
Introduction
In this report, the case study that is taken depicts the case of a multinational oil company
situated in Australia. This company has many storage facilities. This oil company has tank farms
in all the states of Australia which supplies fuels to the local domestic markets. But as per the
case study, the company is facing loss because of the leakage system in the tanks that stores oil.
There are three big tanks which stores oil for the country. The biggest of the three tanks is 50
year old and is in a very bad condition. There are many leakage in the tanks which leads to oil
spread in the soil of the ground. For this, the company pays a huge amount of money to the
environment sector. This leads the company in financial loss. So, the officials of the company
decided to repair the tanks and planned to make repairing budget for the tanks. This report
contains the detailed planned budget for repairing the tanks and the resource that are needed for
repairing the tanks are also detailed in this report.
1. Budget Plan for Repairing of Tanks
Task Name Resource Names Cost
Repairing Tank
Leakage and Tank
Painting
$523,500.00
Project Plan $40,800.00
Visit the Site of the
oil company
Contractors, Project Head, Team Supervisor $12,000.00
Identify the Scope of Project Head $4,800.00

2PROJECT MANAGEMENT
the Project
Analyzing all the
Processes
Project Head, Team Supervisor $12,000.00
Preparing for all
Processes
Contractors, Project Head, Team Supervisor $12,000.00
Documenting the
Issue
Project Head $0.00
Preparing the Project $62,000.00
Introduction of the
Problem Identified
Budget Manager, Project Head, Team Supervisor $6,000.00
Meeting held with
all officials associated
Budget Manager, Project Head, Team Supervisor,
Contractors
$16,000.00
Allocating the
Required number of
Labors
Contractors, Workers, Team Supervisor $16,800.00
Discussing the
Identified Problem with
the Labors
Contractors, Workers, Team Supervisor $16,800.00

3PROJECT MANAGEMENT
Dividing the work
among the labors
Workers, Team Supervisor $6,400.00
Finalizing the
Project
Contractors, Budget Manager, Workers, Project
Head, Team Supervisor
$0.00
Project Execution
Phase
$115,500.00
Site Clearing for
Starting the Work
Cleaning Materials[1], Workers, Team Supervisor $27,400.00
Framework
Preparing for Starting
the Repairing Work
Contractors, Team Supervisor $10,800.00
Identify the Leakage
on Tank1
Workers, Team Supervisor, Repairing Materials[1] $14,300.00
Anchor
Implementation on
Tank1 for starting the
work
Anchors [1], Workers, Team Supervisor $13,600.00
Identify the Leakage
on Tank2
Workers, Team Supervisor, Repairing Materials[1] $14,300.00
Anchor
Implementation on
Anchors [1], Workers, Team Supervisor $13,600.00

4PROJECT MANAGEMENT
Tank2 for starting the
work
Identify the Leakage
on Tank 3
Workers, Team Supervisor, Repairing Materials[1] $14,300.00
Anchor
Implementation on Tank
3 for starting the work
Anchors [1], Workers, Team Supervisor $7,200.00
Starting the Work on
Tank 1
$87,000.00
Closing the
Leakages
Cement[1], Workers, Team Supervisor, Repairing
Materials[1]
$21,700.00
Pipe Clearing
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor
$22,500.00
Final Cleaning of
Pipes and Tanks
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor, Repairing
Materials[1]
$17,600.00
Coloring the Tank
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor, Repairing
Materials[1], Paint[1]
$25,200.00

5PROJECT MANAGEMENT
Starting the Work on
Tank 2
$66,300.00
Closing the
Leakages
Cement[1], Workers, Team Supervisor, Repairing
Materials[1]
$15,300.00
Pipe Clearing
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor, Repairing
Materials[1]
$24,000.00
Final Cleaning of
Pipes and Tanks
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor
$9,700.00
Coloring the Tank
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor, Paint[1]
$17,300.00
Starting the Work on
Tank 3
$43,800.00
Closing the
Leakages
Cement[1], Workers, Team Supervisor, Repairing
Materials[1]
$8,900.00
Pipe Clearing
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor, Repairing
Materials[1]
$17,600.00
Final Cleaning of
Pipes and Tanks
Cleaning Materials[0], Workers, Cleaning
Machines[0], Team Supervisor
$0.00

6PROJECT MANAGEMENT
Coloring the Tank
Cleaning Materials[1], Workers, Cleaning
Machines[1], Team Supervisor, Paint[1]
$17,300.00
Monitoring the
Project
$52,100.00
Monitor whether all
Leakages are closed
properly or not
Contractors, Budget Manager, Team Supervisor $16,800.00
Inspecting the Work
Done
Contractors, Budget Manager, Team Supervisor $11,200.00
Cleaning Site after
doing the Repairing
Cleaning Materials[1], Contractors, Budget
Manager, Workers, Cleaning Machines[1], Team
Supervisor
$24,100.00
Final Closing of the
Project
$56,000.00
Reviewing the
Project
Contractors, Budget Manager, Project Head, Team
Supervisor
$16,000.00
Project Appraisal
Contractors, Budget Manager, Project Head, Team
Supervisor
$16,000.00
Clearing of the
Wages
Contractors, Budget Manager, Project Head, Team
Supervisor
$8,000.00

7PROJECT MANAGEMENT
Signing Off from the
Stakeholders
Contractors, Budget Manager, Project Head, Team
Supervisor
$16,000.00
Project Closure
Contractors, Budget Manager, Project Head, Team
Supervisor
$0.00
Table 1: Budget Schedule for Repairing the Tanks
(Source: Created by author using MS Project)
The above table states the budget plan of the tank repairing system. The budget table
states the name of all the tasks that will be needed to complete the project. There are resource
name as well as cost of the completing the project plan successfully. The resources that will be
needed for completing the budget successfully are Contractors, Budget Manager, Project Head,
Team Supervisor, Cleaning Materials, Workers, Cleaning Machines, Paint, Cement and
Repairing Materials. There are material type of resource as well as work type of resource in the
budget plan and the cost is considered as per hour rate.
2. Schedule of the Project
Task Name Duration Start Finish
Repairing Tank Leakage and Tank
Painting
73 days Mon 9/10/18
Wed
12/19/18
Project Plan 9 days Mon 9/10/18 Thu 9/20/18
Visit the Site of the oil company 2 days Mon 9/10/18 Tue 9/11/18
Identify the Scope of the Project 2 days Wed 9/12/18 Thu 9/13/18

8PROJECT MANAGEMENT
Analyzing all the Processes 3 days Fri 9/14/18 Tue 9/18/18
Preparing for all Processes 2 days Wed 9/19/18 Thu 9/20/18
Documenting the Issue 0 days Thu 9/20/18 Thu 9/20/18
Preparing the Project 8 days Fri 9/21/18 Tue 10/2/18
Introduction of the Problem Identified 1 day Fri 9/21/18 Fri 9/21/18
Meeting held with all officials associated 2 days Mon 9/24/18 Tue 9/25/18
Allocating the Required number of Labors 2 days Wed 9/26/18 Thu 9/27/18
Discussing the Identified Problem with the
Labors
2 days Fri 9/28/18 Mon 10/1/18
Dividing the work among the labors 1 day Tue 10/2/18 Tue 10/2/18
Finalizing the Project 0 days Tue 10/2/18 Tue 10/2/18
Project Execution Phase 18 days Wed 10/3/18 Fri 10/26/18
Site Clearing for Starting the Work 4 days Wed 10/3/18 Mon 10/8/18
Framework Preparing for Starting the
Repairing Work
3 days Tue 10/9/18
Thu
10/11/18
Identify the Leakage on Tank1 2 days Fri 10/12/18
Mon
10/15/18

9PROJECT MANAGEMENT
Anchor Implementation on Tank1 for
starting the work
2 days Tue 10/16/18
Wed
10/17/18
Identify the Leakage on Tank2 2 days
Thu
10/18/18
Fri 10/19/18
Anchor Implementation on Tank2 for
starting the work
2 days
Mon
10/22/18
Tue 10/23/18
Identify the Leakage on Tank 3 2 days
Wed
10/24/18
Thu
10/25/18
Anchor Implementation on Tank 3 for
starting the work
1 day Fri 10/26/18 Fri 10/26/18
Starting the Work on Tank 1 11 days
Mon
10/29/18
Mon
11/12/18
Closing the Leakages 3 days
Mon
10/29/18
Wed
10/31/18
Pipe Clearing 3 days Thu 11/1/18 Mon 11/5/18
Final Cleaning of Pipes and Tanks 2 days Tue 11/6/18 Wed 11/7/18
Coloring the Tank 3 days Thu 11/8/18
Mon
11/12/18
Starting the Work on Tank 2 8 days Tue Thu

10PROJECT MANAGEMENT
11/13/18 11/22/18
Closing the Leakages 2 days Tue 11/13/18
Wed
11/14/18
Pipe Clearing 3 days
Thu
11/15/18
Mon
11/19/18
Final Cleaning of Pipes and Tanks 1 day Tue 11/20/18 Tue 11/20/18
Coloring the Tank 2 days
Wed
11/21/18
Thu
11/22/18
Starting the Work on Tank 3 5 days Fri 11/23/18
Thu
11/29/18
Closing the Leakages 1 day Fri 11/23/18 Fri 11/23/18
Pipe Clearing 2 days
Mon
11/26/18
Tue 11/27/18
Final Cleaning of Pipes and Tanks 0 days Tue 11/27/18 Tue 11/27/18
Coloring the Tank 2 days
Wed
11/28/18
Thu
11/29/18
Monitoring the Project 7 days Fri 11/30/18
Mon
12/10/18
Monitor whether all Leakages are closed 3 days Fri 11/30/18 Tue 12/4/18

11PROJECT MANAGEMENT
properly or not
Inspecting the Work Done 2 days Wed 12/5/18 Thu 12/6/18
Cleaning Site after doing the Repairing 2 days Fri 12/7/18
Mon
12/10/18
Final Closing of the Project 7 days
Tue
12/11/18
Wed
12/19/18
Reviewing the Project 2 days Tue 12/11/18
Wed
12/12/18
Project Appraisal 2 days
Thu
12/13/18
Fri 12/14/18
Clearing of the Wages 1 day
Mon
12/17/18
Mon
12/17/18
Signing Off from the Stakeholders 2 days Tue 12/18/18
Wed
12/19/18
Project Closure 0 days
Wed
12/19/18
Wed
12/19/18
Table 2: Schedule for Repairing the Tank
(Source: Created by author with MS Project)
The table above details the total time that is required for completing the whole project
successfully. The project as per the above schedule starts on 10th September and completes on