University Project: MGT5PMT Assessment 3 - Storage Tank Report

This report addresses a critical disruption in a storage tank project, triggered by an urgent client requirement to expedite completion within three weeks due to a rescheduled aviation fuel shipment. The report focuses on strategies to meet the new deadline without additional funding. It recommends fast tracking by overlapping project phases and reducing interdependencies, utilizing existing infrastructure, and implementing project schedule compression. Change control processes and parallel phase execution are also suggested. The report emphasizes the importance of worker overtime and effective project management to ensure timely completion. It provides a comprehensive analysis of the situation and proposes practical solutions to mitigate risks and meet project objectives. The report demonstrates a clear understanding of the problem, potential solutions, and their implications, ensuring effective project delivery within the given constraints.

Running head: STORAGE TANK
STORAGE TANK
Name of the System
Name of the University
Author Note

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STORAGE TANK
Background
The issue that is taken into consideration in this case is that the processing of the tank
that is to be repaired in the scheduled time. There has been a planned processing of the entire
set of the storage tanks. Due to the provisioning of other defective tanks in the site 10 days
have been wasted. This wastage of 10 days have been affecting the entire project processing.
Recommendation
The major aspects that are taken into consideration is fast tracking. With the help of
fast tracking, changing of strings of activities will be beneficial. The main issue that is
present in this aspect is that the risk that is calculated will increase. However the main
concern that is present in this system is that time required for completion of the task has to be
reduced with standing the fact that no extra fund will be allotted. This is one of the main
reason that implementation of fast tracking process will be helpful in this scenario. In this
case overlapping of project phases will take place. This overlapping of project phases will
incur the aspect that more than one phase of the project will get performed in single time.
This insists that during the completion of the phase 1, phase 2 will be in process and might
end in between the completion of phase 1. This will reduce the time that will be required in
completing of the project. Another process that can be done is processing of the project,
interdependencies of the phases must be reduced. This decrease in interdependency ion the
phases will help in facilitating the process of phase overlapping. This will include the aspect
that proper understanding of the data segmentation will be made as per the sectioning of
entire project in a manner that each stages of the project are least dependent on each other.
The present infrastructure will be used instead of developing the same again. Another
method that can be implemented is project schedule compression process. With the help of
the project schedule compression process, unrealistic schedule can be pulled off. This is one

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STORAGE TANK
of the main reason that usage of the project schedule compression can be used. In this case
the main aspect that will be benefitting the entire processing includes the fact that change
control process will be performed. Re arrangement of the project schedule will be required.
With the help of the project schedule compression process, cost scope can be analysed.
Standards of quality and customer satisfaction will be reduced. After implementing these
methods the final aspect that will be taken into consideration that phases must be performed
in a parallel manner. This parallel occurrence of the phases will reduce the time as well as the
cost of completing the project. Over timing of the workers will be needed. This over timing
of the workers induce the fact that proper management of the project will get performed and
hence task will be completed and no extra cost will be required as the project will be
completed earlier and the overtime cost can be compensated with the extra days cost that the
workers will not be working in.