PPMP20013 Project Management: Operators & Large Assets - Portfolio 1

This portfolio provides a consolidated overview of project management principles and practices applicable to operators of large assets, covering key areas such as project, program, and portfolio management. It emphasizes the relevance of various tools and techniques for project process investigation, justification, design, development, and maintenance within the context of technological and asset lifecycle status. The portfolio also presents major processes based on sound policy, information, and research, enabling project justification, tenders, contracts, and selection criteria. It critically analyzes management strategies and operational activities to ensure safety and quality, avoid overruns or rework, manage variations and claims, and make informed decisions regarding project continuation or closure. Furthermore, it demonstrates effective teamwork, communication, and collaborative peer group learning, highlighting the insights gained each week on topics ranging from project justification and contract processes to financing, risk management, and talent management. Desklib provides solved assignments and study resources for students.

PPMP20013 PROJECT MANAGEMENT FOR OPERATORS OF LARGE ASSETS -
CONSOLIDATED PORTFOLIO
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Table of Contents
Introduction......................................................................................................................................3
Course Learning Outcomes.............................................................................................................4
1. Review using clear terminology the key areas and processes of project, program and
portfolio management practices as applies to asset rich organisations........................................4
2. Discuss the relevance of tools and techniques for investigating and describing project
process related to developing new workings, facilities, equipment, plant and processes for
justifying, designing, developing, or maintaining existing facilities and equipment within the
context of their technological and asset lifecycle status..............................................................5
3. Present and interpret major processes that are based on sound policy, information, and
research that enable project justification, tenders, contracts, and selection criteria to occur in
an asset rich organisation.............................................................................................................6
4. Critically analyse management strategies and operational activities from a broad perspective
to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and
to make decisions to discontinue or close projects......................................................................7
5. Demonstrate an effective, professional level of teamwork and communication and support
collaborative peer group learning................................................................................................8
Discussions and Conclusions...........................................................................................................9
References......................................................................................................................................12
Appendix........................................................................................................................................13
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Introduction
Projects are undertakings executed in order to achieve the desired objectives and aims of the
ventures. Projects are defined as a group of various business processes and tasks for determining
the execution of processes. Projects can be large scaled and often require huge assets and
resources for completion and successful execution of the processes. Projects also deploy
resources of large values which are accompanied by advanced technology and modified
processes in order to ascertain the derivable of the project and its ancillary processes. Project
management is required in order to execute effective processes and functions (Bloch, et. al.,
2012). Projects in large scale boundaries require a greater number of resources and equipment
along with increased number of human and engineering resources. Projects apply techniques and
project management methodologies such as Project Management Information System, Linear
Production, Prince2, and System thinking etc. (Karaman & Kurt, 2015). The portfolios
undertaken in this assessment has increased my knowledge and information in various aspects
and dimensions of project management.
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Course Learning Outcomes
1. Review using clear terminology the key areas and processes of project, program and
portfolio management practices as applies to asset rich organisations.
Introduction
Project, portfolio and program management includes various management practices and policies
in various areas and key processes. The projects require for implementation and execution of
proper management theories and practices for planning and programming the project activities
and functions. Project management also requires for deploying the management theories in the
financial aspect of the project management.
Summary
The projects as vast as the Brisbane New Parallel runway require various terminologies in the
key areas and processes for effective execution. For projects acquiring rich assets and resources
proper management and planning is required (Love &Irani, 2003). The project managers apply
for techniques such as the arbitration and negotiation for change management and reducing the
conflicts between the stakeholders and the project teams.
Evidence
Projects also require terminologies such as change management and conflict resolution. The
projects apply techniques and approaches of change management and conflict management in
order to eradicate the conflicting aims and objectives in the project (Stevenson & Hojati, 2007).
These terminologies and approaches are also applied in order to increase the integration between
the stakeholders and the project investors.
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2. Discuss the relevance of tools and techniques for investigating and describing project
process related to developing new workings, facilities, equipment, plant and processes for
justifying, designing, developing, or maintaining existing facilities and equipment within
the context of their technological and asset lifecycle status.
Introduction
Several types of tools and techniques are available today in order to accomplish the project aims
and objectives. These tools and techniques are also deployed for executing the processes and
functions in assets rich organisations for better development and achieving the derivable
effectively (Smith, 2002). The tools and techniques also ensure for enhanced productivity and
efficiency of the projects and its functions.
Summary
The tools such as PERT, Gantt chart, Action Plan, Milestones and Project Management
Information Systems etc. are executed in the projects. The tools are of much relevance for
developing new works and plant or processes. The tool of Action Plan and Milestone enables the
project managers to effectively monitor and analyse the performance and growth of the project
activities and processes (Kerzner & Kerzner, 2017). The tool of milestone represents for
indication of achieving the project stages as per the scheduled time and programs. Milestones
represent the completion of stages and processes of the projects.
Evidence
The technique of system thinking and system engineering is deployed in big projects accessing
assets rich processes and functions. The techniques and approaches of system thinking enable to
diversify and distribute the projects into various systems and processes. It also fosters developing
new processes and maintaining the existing facilities and equipment (Binder, 2016). System
thinking also provides with an opportunity to reduce the unnecessary functions and processes of
the projects. The concepts of system thinking provide with system identification, reduction and
diversification.
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3. Present and interpret major processes that are based on sound policy, information, and
research that enable project justification, tenders, contracts, and selection criteria to occur
in an asset rich organisation.
Introduction
The projects accessing rich assets and resources are based on empirical and sound base policy,
information and research. The research and accumulation of data provided with a sound base to
form the policies and decisions in the projects. Research is conducted in order to assess the
future risks and issues that may occur in the projects and its processes. Conducting research and
analysis enables to execute the processes and functions in an effective manner.
Summary
Sound policies provide with the structure for study proof execution of project activities and
processes. Sound policies and procedures provide with opportunities to identify the risks and
issues in advance (Hornstein, 2015). Reformative and risk management processes are undertaken
and planned in advance to eradicate or reduce the implications of these issues or problems that
may occur in the project. Research also enables for selecting criteria for the projects for various
functions and processes such as financing, planning, human resources, and management etc.
Evidence
Project management also deploys information for tender and contract development. By acquiring
the information and knowledge through aggressive research project managers acquire major
strategic and analytical information in order to execute the plans and programs defined. Through
sound policies and structures, the terms and conditions of the projects are determined as per the
project specifications and requirements (Muller, 2017). Sound policies are required in order to
develop the contracts and tenders as so develop justified terms and conditions of the projects. It
fosters for creating a basis for project development and contracting.
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4. Critically analyse management strategies and operational activities from a broad
perspective to ensure safety and quality, to avoid overruns or rework, to manage variations
and claims, and to make decisions to discontinue or close projects.
Introduction
Projects apply various techniques, strategies and operational activities in order to ensure the
work safety and controlling activities in the projects. The management strategies provide with
opportunities to monitor and control the project processes and activities. The management
strategies of effective communication and flow of information within the project members and
the stakeholders ensure for effectively controlling and monitoring. The required information is
circulated in an effective manner and thus ensures for the quality of the project.
Summary
Safety of the projects is also assured by the application and execution of various project
management strategies and operational activities. The management strategies such as the risk
management and conflict management are executed for ensuring the higher level of safety in
projects (Karaman & Kurt, 2015). Safety is assured by the application of risk assessments and
application of various system thinking tools. The risk management strategies enable to identify
the risk and issues for further development of operational and managerial strategies. The
management strategies increase the productivity but also act as a hindrance to the decision
making processes and operational functions. For example, the management strategies of
leadership at times decrease the efficiency of the projects and delays in the other systems.
Evidence
In the assets rich projects, multiple processes and functions are included in order to ensure
overrunning of the processes and the controlling activities. The operational activity of
introducing project management information system enables to assess the performance of
various project processes and activities (Kerzner & Kerzner, 2017). The software notifies the
project activities that are essential and the activities that are not considered. The identification
increases the efficiency and productivity of the projects.
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5. Demonstrate an effective, professional level of teamwork and communication and
support collaborative peer group learning.
Introduction
The project is defined as a group of interlinked and intertwined activities and processes. Multiple
teams and managers work together in order to demonstrate an effective and professional level of
communication and peer group learning. Proper flow of communication and information is
required to be executed in order to depict professional level and group learning (Batkovskiy, et.
al., 2016). Effective and timely flow communication enables to accurate and required circulation
of the information in various systems.
Summary
Professional level of learning can also be demonstrated through teamwork. Teamwork increases
the interaction and integration between the team members and groups that work together.
Teamwork also demonstrates for peer learning as group discussions and meetings are undertaken
in order to communicate and inform the group members of the changes and alterations that may
take place in the life cycle of the projects (Smith, 2002). Collaborative peer group learning can
also be practised through the application of team building, team development and integration.
Evidence
Real time communication and change management techniques also ensure effectiveness in the
projects. Real time communication dedicates to the actual and professional level of group
learning. Knowledge and talent management also enforces for efficiency and professionalism in
the projects. Talent management will inculcate the habit of effective and efficient project
management. Talent management will also ensure identification of human resources in the
capacity to perform the higher values of works and tasks.
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Discussions and Conclusions
The execution of these portfolios has enabled me to gather empirical and evidence based
information and details about the project management and ancillary functions of the project
functions. Project management has also enabled me to learn about the various project aspects and
methodologies in order to execute them in the real life scenarios and circumstances. The
description below converses on the weekly learning and knowledge I have access.
Week 1
The week has enabled me to learn and acquire information about the project management for
operations for mines, plants and owners of large assets. The week has provided information of
relevance of various project management approaches and techniques in the projects. The week
has increased and enhanced my information for project management in large organisations and
assets rich projects.
Week 2
The week has imparted information for project justifications and contract processes. Project
justification is required in order to justify the policies and processes undertaken in the projects.
Several types of project justification and contact processes are undertaken. I have learned about
the project processes and systems that enable to manage and organise the projects effectively.
Week 3
The week has educated me on the concepts and aspects of financing and funding for the projects.
I have learned that projects deploying rich assets and large organisations requires a larger
number of asset and managerial processes to monitor and evaluate the funding processes.
Week 4
The week has educated me on the concepts and processes that are executed in a project. Several
types of processes such as controlling, regulating, monitoring and analysis are undertaken in the
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project. Projects also deploy the concepts of system thinking and project management
information system for fostering the project performance and deliverables.
Week 5
The week 5 of this portfolio has enabled me to gather a greater amount of information and data
in the project management and its process. The week has educated me on the project
requirements and change processes undertaken in the project in order to execute the functions of
change management and analysis.
Week 6
The week has also informed me in gaining information and knowledge in the fields of project,
contract and terms or conditions of the projects. The conditions of the project include for
assessing and identifying the project requirements and specifications. I have learned the project
processes and its ancillary functions.
Week 7
The week 7 for this portfolio has educated and generated information for defining and applying
the quality assurance and control of the project processes. I have learned that the projects require
for the extreme level of quality assurance and control activities to increase the effectiveness and
viability of the projects. I have gained knowledge in the areas of project management such as the
risk management, conflict identification and reduction etc.
Week 8
This week has enabled me to learn the concepts and aspects of project document management
and governance processes. The document management enables to managing and organising the
documents and records in the projects. The management of project requires for governance to
assure for the effective execution of the project processes. I have learned that governance is
required in all the processes and functions.
Week 9
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The week 9 of this portfolio has increased my information on the concepts of managing change,
disputes through arbitration and mediation. I have learned that projects require for managing the
changes and alterations in order to accomplish the project aims and objectives. I have learned
about the techniques of change management, tools applied to identify and reconcile the
conflicting aims and objectives of the project.
Week 10
The portfolio has provided with information for critically analysing the implications and impacts
of safety in the projects. Safety is required in the projects to ensure the protection of the workers
and employees. Safety in large organisations is required as it includes various complex and multi
natured technologies and equipment. I have learned that impacts of safety measures increase the
security of the projects.
Week 11
The week 11 of this portfolio has increased my knowledge of modern approaches applied in the
extended projects that are undertaken by the project manager. I have gathered information for
applying the approach of project management information system and automated software to
execute the functions and processes with increased effectiveness and productivity.
Week 12
The week 12 for this portfolio has increased my learning for ensuring sustainability in the
projects. I have learned that sustainability is required in order to execute the project functions in
an effective manner. Sustainability will ensure growth and development of the project and will
enable to monitor the processes effectively. Sustainability will also ensure better management
and execution of the project and its deliverables.
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References
 Batkovskiy, A. M., Batkovskiy, M. A., Klochkov, V. V., Semenova, E. G., & Fomina, A.
V. (2016). Implementation Risks in Investment Projects on Boosting High-Tech Business
Production Capacity: Analysis and Management. Journal of Applied Economic Sciences.
Romania: European Research Centre of Managerial Studies in Business
Administration, 11(6), 44.
 Binder, J. (2016). Global project management: communication, collaboration and
management across borders. Routledge.
 Bloch, M., Blumberg, S., &Laartz, J. (2012). Delivering large-scale IT projects on time,
on a budget, and on value. Harvard Business Review.
 Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach.
Routledge.
 Hornstein, H. A. (2015). The integration of project management and organizational
change management is now a necessity. International Journal of Project Management, 33(2),
291-298.
 Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies:
prince 2 versus PMBOK for it projects. Int. Journal of Applied Sciences and Engineering
Research, 4(5), 657-664.
 Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to
planning, scheduling, and controlling. John Wiley & Sons.
 Kotetunov, V. Y. (2016). Risk management in projects. Cherkasy University Bulletin:
Economics Sciences, (1).
 Love, P. E., &Irani, Z. (2003). A project management quality cost information system for
the construction industry. Information & Management, 40(7), 649-661.
 Muller, R. (2017). Project governance. Routledge.
 Smith, N. J. (2002). Engineering project management. Blackwell.
 Stevenson, W. J., &Hojati, M. (2007). Operations management (Vol. 8). Boston:
McGraw-Hill/Irwin.
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Appendix
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
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Week 7
Week 8
Week 9
Week 10
Week 11 and 12
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