Analysis of the Canary Wharf Multi-Project: A Project Report

This report provides a comprehensive analysis of the Canary Wharf multi-project, a large-scale construction endeavor. It begins with an introduction and sample project initiation document (PID), followed by a brief overview of the project's scope, including the outline of costs, timeline, and key personnel. The report then delves into the strategic aims, objectives, and identification of stakeholders, emphasizing their roles and responsibilities. It covers critical aspects of project management, such as team structure (including Belbin's team roles), time management, risk management, and cost control. The report also references the triple constraint triangle and discusses methodologies, procedures, and the factors contributing to success or failure of the project. The project's two phases, key people involved, and the financial investments are also detailed. The report further includes a time management plan, outlining activities, durations, and dependencies. This analysis offers valuable insights into the complexities and challenges of managing a large-scale construction project.

PROJECT
MANAGEMENT

TABLE OF CONTENTS
Introduction :- .................................................................................................................................3
Sample PID :- ..................................................................................................................................3
Brief overview :-..............................................................................................................................3
Outline of the cost :- .......................................................................................................................3
Time scale :- ....................................................................................................................................4
Key people :- ...................................................................................................................................4
Strategic aims :- .............................................................................................................................5
Objectives and outlines of the report :- ...........................................................................................5
Stakeholders :-.................................................................................................................................5
Team :-.............................................................................................................................................7
Time management :- .......................................................................................................................8
Risk management :- ........................................................................................................................8
Cost management :- ........................................................................................................................9
Triple constraint triangle :- ...........................................................................................................10
Methodologies and procedures :- ..................................................................................................12
Success / Failure :- ........................................................................................................................12
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INTRODUCTION :-
Construction industry works for building infrastructure and developing and making
buildings. planned approach is required for carrying out required work in the construction sector.
In the present report research has been carried out regarding the construction of Canary Wharf
multi project. The report describes about brief overview of the company and outline of the cost
that occur while carrying out and completing the project has also been mentioned. In addition to
that key people and strategic aims of the business and triple constraint triangle has been
described.
SAMPLE PID :-
The project for construction of Canary Wharf Multi project has been developed by Paul
Reichman and he is working as a project developer. The construction project is sponsored by
three different organizations. First is Dockland Development Corporation, conducted Margaret
Thatcher. Second is Olympia and York, the company of Paul Reichmann. Third is Songbird
Estates, led by US investment bank Morgan Stanley. Phase two of the project will be for the
duration of 1997- 2002 and construction of four different buildings will take place during this
period. HSBC tower, Citigroup center, Heron Quays and Jubilee line will be constructed during
this phase.
BRIEF OVERVIEW :-
Canary Wharf multi project will be started in the year 1988 and it will be completed in
two different phases. In 2004 Canary Wharf was bought over by Songbird Estates banked by
Morgan Stanley investment bank, ending Reichmann’s 20-year involvement with the project. In
2004 Canary Wharf was bought over by Songbird Estates banked by Morgan Stanley investment
bank, ending Reichmann’s 20-year involvement with the project. Moreover In 2014 Canary
Wharf spread to the east, planning to build 30 new building at Wood Wharf, including 57-storey
cylindrical residential skyscraper facing the waters of South Dock.
OUTLINE OF THE COST :-
The project will be started in 1987 and all the action plans and strategies for completing
the project will be formed during this phase. Major construction part will be started in the year
1988 and no finishing date has been determined for completing the project. It has been estimated
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while making the plans that expected budget for completing the project is £62 million however
total investment that have been made up to the date is £4.5 billion.
TIME SCALE :-
Overall project will be completed in two different phases and specific activities will ve
completed in each phase. The duration of First phase will be 1988-1991 and 4 different
activitioes will be completed. As per the plans One Canada Square, Westferry Circus and Cabot
Square, Two additioanl sides of Canada Square and The extension of Jubilee Line had been
planned. In the construction all the required construction activities will be completed during this
phase. No finishing date has been determined for completing the project.
KEY PEOPLE :-
Paul Reichman has been appointed as project developer. He will be accontable for
executing all the necessary activities of the project. Key people and their role in executing the
project is as described :-
People included in the project board of the organization are as described :-
Sir George Iacobescu CBE - Chief Executive Officer and Chairman - Executive Board - Since
august 2011 Sir George Iacobescu became the CBE Chairman and Chief Executive Officer
1.
2. A Peter Anderson II - Director - Non-Executive Board
3. Richard Archer - Director - Non-Executive Board
4. Clifford Bryant - Director - Non-Executive Board
5. Howard Dawber - Director - Non-Executive Board
6. Ian Ferguson - Director - Non-Executive Board
7. John Garwood - Director - Non-Executive Board
8. Christopher Henderson - Director - Non-Executive Board
9. Anthony Jordan - Director - Non-Executive Board
10. Russell Lyons - Director - Non-Executive Board
11. -Corman MacCrann - Director - Non-Executive Board
12. Camille Waxer - Director - Non-Executive Board
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STRATEGIC AIMS :-
Major aim for Canary Wharf Group is to design, build and manage Central London's Highest
quality and best value and most sustainable office, retail and residential buildings and districts.
Company is determined for delivering better values to the consumers and gaining loyalty of
consumers for long time.
OBJECTIVES AND OUTLINES OF THE REPORT :-
1. Objectives of the Canary Wharf Group project is to reborn the activity of
the old port by giving a new perspective.
2. Another objective of the project is to Construct the Architectural
Skyscraper building of London.
3. Canary Wharf is working with the objective to build One Canada Square.
4. Objective of the firm is to expand its existing construction business so that
profitability and financial revenues of the entity can be enhanced.
5. Objective of the firm is to construct HSBC Tower.
STAKEHOLDERS :-
Group Canary Wharf Stakeholders includes tenants and occupiers, shoppers, the local
community, employees, local and central Government suppliers and investors. Engaging with
Stakeholders on a regular basis states in meetings where they listen their concerns and listen their
concerns and ideas for improvement.
In doing this, we work with all our stakeholders to create and nurture vibrant, inclusive
communities that meet today’s economic, environmental and social needs while anticipating
those of tomorrow (Canary Wharf).”Major stakeholders that play a key and prominent role in
completing the project are as described :-
Stakeholders Role played by them
Tenants and occupiers Tenants and occupiers are responsible for taking appropriate
measures for mitigating the risk that
Shoppers Shoppers gives raw material and machinery equipment that
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are required for completing the project and it also helps for
carrying out the necessary operational activities of the
project.
Local community people Project activities are completed in the local community area
and support given by them assist for completing all the
necessary and required activities of the project.
Employees Operational and functional activities that are needs to be
completed are done by the positive efforts that are given by
staff members of the company.
Local and central government
suppliers
Required raw material and other equipment that are needed
for completing the project are supplied by the suppliers.
Investors Necessary fund and finance that are required for completing
the project is also provided by the investors.
It is required that all the prominent stakeholders should provide their necessary support
and other resources that is required by them for completing the required construction project.
Occupiers and tenants are responsible for taking effective measures for reducing the risks that are
being faced by them. Occupiers are liable for properly understanding the factors and elements
that are likely to cause risks while the project implementation cycle.
In-depth analysis of location specific risk is done by the occupier and options are
provided by them for taking effective measures for reducing the risks that are faced by them.
Shoppers gives necessary raw material that is required for completing all the construction
activities. Other than that local community people renders necessary support so that all the
constructions activities can be completed properly.
Employees completes all the necessary functional activities by completing all their
assigned task and job responsibility. Local and government suppliers provides necessary raw
material that is required by them for completing all the necessary construction activities. Finance
and investments are one of the most essential elements that are required for carrying out the work
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in the construction industry. Investors provide necessary money that is required by them. All the
construction activities of phase 1 and phase 2 are completed by funds that are provided by the
investors and it helps for constructing buildings and other required infrastructure.
TEAM :-
It is assertive that positive support should be given by all the people that are associated
with the project. Mutual cooperation of all the staff members is required and it aids for
accomplishing all the necessary activities of the project on due time (Klarsfeld and Tatli, 2014).
Team working helps for involving mutual support of all the team members and joint efforts made
by all people will help for completing all the required activities of the construction project in
better way. Belbin's team role and their effectiveness for completing the construction project are
as described :-
Resource investigator :- ideas are provided for completing all the necessary construction
activities and necessary resources that are needed for carrying out the required task are also
provided by resource Investigator (Galliers and Leidner, 2014).
Team worker :- assistance is provided to team and all the group members are provided with the
help to complete all the required work activities.
Co-ordinator :- All the necessary activities are organized by coordinator and specific job roles
and duties are assigned to individual employee.
Plant :- It is required that individual working at this team role should be creative and innovative
and creative ideas should be provided for resolving the problems that are faced by the whole
team.
Monitor and Evaluator :- Logical guidelines are provided by person working as monitor and
evaluator and all the functional activities that are performed are controlled by individual working
at this job role.
Specialist :- team worker working as specialist provides deep knowledge that is required for
completing a task and it is required that person should be capable enough for rendering required
knowledge for completing a task in effective way.
Shaper :- Motivation and encouragement is provided by individual working as shaper and it is
essential that person working at this job role should be dynamics and challenging.
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Implementer :- Strategies and action plans are made by the person working as Implementer and
it helps in completing all the required work activities in effective way (Schwalbe, 2015). It is
required that person working as an implementer should be practical and reliable. It is also
required that al the work activities should be arranged and organized by the implementer.
Completer-finisher :- Individual working at this role is accountable for finishing all the tasks
that have been performed. Quality of all the tasks and work activities is checked by person
working as a Completer-finisher.
All the staff members and top management and middle level management people will be
divided in the team and they will be accountable for playing their assigned role in effective
manner. Key people who are involved in completing all the necessary construction project
activities includes. Paul Reichman has been appointed as project developer and he is responsible
for assigning specific job roles to all the individuals. Necessary construction activities including
infrastructure building in phase one and phase two will be completed in effective way. In
addition to that team working will help for building all the construction projects in systematic
and step by step manner.
TIME MANAGEMENT :-
Activities Times duration Predecessors
Planning
1 Identifying the
location
7 days
2 Determining the risk
factors that are
involved
20 days 1
3 Gathering information
from site Engineers
25 days 1,2
4 Political factors 10 days 1,2,3
5 Determining cost 20 days 5
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6 Identifying the
materials that will be
required
15 days 5,6
7 Identifying suppliers 25 days 5,6,7
8 Determining key
employees
18 days 8
9 Identifying total
workers who will be
required
10 days 8.9
10 Developing teams 10 days 8,9,10
11 Developing strategies
for reducing risk
15 days 11
12 Monitoring the
performance
28 days 12
13 Structuring the plan
into action
45 days 9, 12, 13
14 Recommending
strategies for
improvement
15 days 14
15 Closure of the project 20 days 14, 15
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RISK MANAGEMENT :-
The project was politically controversial and widely regarded as a planning disaster. m
risk that are associated with the project are as follows :-
 Lack of proper transportation :- The risks that phase one of Canary Wharf met were
problems with poor transport links, a recession in the London property market,
competition from the City of London, few British tenants, complicated finances and
developer overconfidence, risks which without a backup plan for the Group lead to a
failure consistent in bankruptcy of Olympia York in 1992.
 Poor distribution channel :- A delay in the construction of the building sites because of
bad distribution channels regarding the materials which had to help in the building
process, whereas nowadays the Group find the solution using the water channels to
supply the needed resources.
 The risk of flooding :- However, later the Group of Canary Wharf approached the risks
in a different manner, such as a better communication with their suppliers related on
occasional meetings to have a better understanding of the Group requirements; also,
created a trustful relationship with the suppliers based on their repeated orders; also, the
Group has control over its suppliers by assuring that they respect their terms and
conditions.
 Lack of skillful workers: It is important to have employees who will be able to support
management so that they will be able to achieve their desired goals and objectives. On the
other hand, is employees are not capable enough, then business operations will get
negatively affected.
 Lack of resources: For construction, it is important to have materials that will be helpful
enough to complete the requirements on time. In case, the materials are not available as
per requirement, then it will affect the operations and on determined time the work of
construction will not get over.
 Healthy relationship with suppliers: Suppliers are the one who deliver the required
materials as per need. In case, they do not play their part of role and do not deliver
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