Lonsdale Institute BSBPMG514: Pond's Bridge Cost Report Analysis

This report provides a comprehensive analysis of the cost management aspects of the Pond's Bridge construction project. It begins with an overview of the project details, including the scope, objectives, and contractual arrangements. The report then delves into the resources allocated to the project, categorizing them into human and physical resources. A significant portion of the report is dedicated to cost monitoring, detailing the Earned Value Management (EVM) technique, project cost variance analysis, and the use of cost-benefit analysis to measure project outcomes. The report highlights the application of these techniques in managing the project's budget and schedule, offering insights into effective cost control and project performance measurement. Finally, it includes a bibliography of the sources used.

Running head: MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT
Manage Project Cost for the Pond's Bridge Construction Project
Name of the Student
Name of the University
Author note

1MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT
Table of Contents
1. Project Details..............................................................................................................................2
2. Resources.....................................................................................................................................3
3. Cost Monitoring...........................................................................................................................4
Bibliography....................................................................................................................................5

2MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT
1. Project Details
The poster discusses and summarizes over the entire project based on the construction of
the Ponds Bridge. The project comprises of construction of a four-lane cable-stayed and precast
concrete bridge, which is considered as a part of the new Stanhope Pathway [1]. This bridge is
primarily being constructed for maintaining a proper form of vehicular traffic, better access to
pedestrians and a well-designed cycleway that would link the Stanhope Gardens residential
estate with the Quakers Hill.
The scope of the project details the following:
1. Piling and retaining of concrete walls.
2. Placement of the pre-cast concrete decking.
3. Designing a cantilevered cable-stayed footpath.
4. A pre-cast concrete span girders
5. Approachable railings and slab
From the different specifications made over the construction of Ponds Bridge project, it
can be discussed that the business unit of the project would be discussed as an engineering based
project. Western Earth Moving is considered as the primary client of the Ponds Bridge project
who has proposed the idea of construction of the cable-stayed bridge. The project would start on
November 2009 and the completion date of the project has been marked at November 2010. The
use of lump sum contract has been used for undertaking the activities of procurement of workers

3MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT
and resources used during the project. However, the total value of the project has been projected
at $3.5 million.
2. Resources
The resources used within the aspects of the project have been classified according to two
different types. These are classified as human and physical resources. The human resources that
are used within the project are:
1. Western Earth Moving (WEM) Management
2. Project Manager
3. Construction Manager
4. Electrician
5. Labours
6. Consultants
7. Facilities
8. Computer Engineer
9. Subject Matter Expert
On the other hand, the physical resources that are used for accomplishing the outcomes of
the project are:
1. Construction materials

4MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT
2. Computer hardware
3. Computer software
4. Software license fee
3. Cost Monitoring
The cost monitoring process that would be used in context of the project are discussed as
follows:
1. Earned Value Management (EVM) technique is used within the project for the
measurement of the actual performance of the project. This technique would be further be used
for the measurement of the concerned construction project [3]. Hence, the aspect of schedule and
costs within the project would be measured efficiently.
2. The use of project cost variance analysis within the project have been used for
comparison over the planned performance against the actual project performance. Different cost
variances that would be used within the project could be further be managed with the proper use
of establishment of cost baselines within the project. After a proper analysis over the cost and
schedule that have been used within the project, the construction manager would approve for the
final progress over the project works.
3. Cost-benefit analysis is considered as a useful technique that has been used within the
project for the measurement of the project outcomes [2]. With the use of cost-benefit analysis,
the ROI of the project would be calculated and based on that the payback period for the project
would be determined accordingly.

5MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT

6MANAGE PROJECT COST FOR THE POND'S BRIDGE CONSTRUCTION PROJECT
Bibliography
(1) THE PONDS BRIDGE - Abergeldie Complex Infrastructure
https://abergeldie.com.au/projects/bridges-roads/the-ponds-bridge/ (accessed Feb 23, 2020).
(2) THE THEORY OF COST-BENEFIT ANALYSIS
https://personal.lse.ac.uk/sternn/040NHS.pdf (accessed Feb 23, 2020).
(3) Urgilés, P.; Claver, J.; Sebastián, M. Analysis Of The Earned Value Management And
Earned Schedule Techniques In Complex Hydroelectric Power Production Projects: Cost And
Time Forecast. Complexity 2019, 2019, 1-11.