Project Management Project: Repairing Australian Storage Tank

This project management assignment presents a comprehensive plan for repairing an Australian storage facility. The project begins with a detailed budget, allocating funds across various phases, including initiation, planning, execution, and closure. A project schedule outlines timelines, milestones, and deliverables, utilizing Agile methodology. Resource estimation identifies financial, human, and material resources required, integrating them with the schedule. The assignment includes a critical path analysis to identify key tasks and dependencies. The project also offers a comparison between Agile and Waterfall methodologies, along with scheduling and work breakdown structures. Finally, the project employs analogous estimation techniques to estimate costs and provides a bibliography of relevant sources.

Running head: PROJECT MANAGEMENT
Project: Repairing of Australian Storage
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Project budget...........................................................................................................................2
1.1Appropriate budget for the project.........................................................................................2
1.2 Assumptions that are made in preparing the budget..............................................................3
2. Schedule.......................................................................................................................................4
2.1 Schedule of the project with milestones and deliverables.....................................................4
2.2 Discussion on the relative merits of the methods, tools and techniques that is used............6
2.3 Comparison with different methodology, tools and techniques............................................7
3. Resource estimation.................................................................................................................8
3.1 Estimation of resources required for the project...............................................................8
3.2 Integration of resources with schedule............................................................................10
3.3 Critical path.....................................................................................................................13
3.4 Tools and techniques that are used.................................................................................14
Bibliography..................................................................................................................................15

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1. Project budget
1.1Appropriate budget for the project
It is identified that the entire budget that is needed in order to repair the Australian
storage facility is around $82,400. The table below reflects the budget that is required to
complete each of the project activities.
Task Name Cost
Repairing Australian Storage facility $82,400.00
Initiation phase of the project $6,360.00
Development of business case $840.00
Feasibility analysis $2,000.00
Establishment of project charter $1,600.00
Appointment of project team members $1,200.00
Reviewing initiation phase of the project $720.00
Project planning phase $16,800.00
Creation of project plan $2,400.00
development of project resource plan $1,960.00
Creation of financial plan $1,920.00
Testing quality $5,760.00
Development of acceptance plan $4,760.00
Project execution phase $57,200.00
Agreement from different participants $4,160.00
Settlement of external issues $3,840.00

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Creating agreement as well as finance for the project $4,480.00
Preparatory work completion $3,120.00
Strategies that stops leakage $3,200.00
Development of strategies that resolves issues $2,880.00
Adjustment of activities $3,840.00
Completion of whole repair $3,360.00
Activity adjustment $2,800.00
Repair risk completion $8,960.00
Analysis of completed work $7,040.00
Closure of various types of issues $9,520.00
Project closure phase $2,040.00
Completion of gas storage construction $560.00
Financial reporting $800.00
Post project review $400.00
1.2 Assumptions that are made in preparing the budget
The assumptions that are made in order to prepare the budget are as follows:
Budget: It is assumed that the budget that is needed for repairing the Australian storage
facility will be completed within the budget $$82,400. It is assumed that even if few project
activities will be added then also the variation in the project budget will not be more.

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Scope creep will not occur: The project manager assumed that scope creep would not
occur within the project. If scope creep occurs due to some reason then also the budget of the
project will not vary much.
Time: It is assumed that the time that is needed in order to repair the Australian storage
tank will be around 3 months. The project manager will execute the entire project successfully
within the assumed time that is estimated.
2. Schedule
2.1 Schedule of the project with milestones and deliverables
Task Name Duration Start Finish
Repairing Australian Storage
facility
81 days Tue 3/27/18 Tue 7/17/18
Initiation phase of the project 15 days Tue 3/27/18 Mon 4/16/18
Development of business case 3 days Tue 3/27/18 Thu 3/29/18
Feasibility analysis 5 days Fri 3/30/18 Thu 4/5/18
Establishment of project
charter
4 days Fri 4/6/18 Wed 4/11/18
Appointment of project team
members
5 days Fri 4/6/18 Thu 4/12/18
Reviewing initiation phase of
the project
3 days Thu 4/12/18 Mon 4/16/18

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Milestone 1: Completion of
project initiation phase
0 days Thu 4/12/18 Thu 4/12/18
Project planning phase 22 days Tue 4/17/18 Wed 5/16/18
Creation of project plan 6 days Tue 4/17/18 Tue 4/24/18
development of project
resource plan
7 days Wed 4/25/18 Thu 5/3/18
Creation of financial plan 8 days Wed 4/25/18 Fri 5/4/18
Testing quality 9 days Fri 5/4/18 Wed 5/16/18
Development of acceptance
plan
7 days Mon 5/7/18 Tue 5/15/18
Milestone 2: Completion of
planning phase
0 days Fri 5/4/18 Fri 5/4/18
Project execution phase 41 days Wed 5/16/18 Wed 7/11/18
Agreement from different
participants
13 days Wed 5/16/18 Fri 6/1/18
Settlement of external issues 12 days Wed 5/16/18 Thu 5/31/18
Creating agreement as well as
finance for the project
14 days Mon 6/4/18 Thu 6/21/18
Preparatory work completion 13 days Mon 6/4/18 Wed 6/20/18
Strategies that stops leakage 10 days Fri 6/1/18 Thu 6/14/18
Development of strategies that
resolves issues
12 days Fri 6/1/18 Mon 6/18/18

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Adjustment of activities 12 days Fri 6/22/18 Mon 7/9/18
Completion of whole repair 14 days Fri 6/22/18 Wed 7/11/18
Activity adjustment 10 days Thu 6/21/18 Wed 7/4/18
Repair risk completion 14 days Fri 6/15/18 Wed 7/4/18
Analysis of completed work 11 days Tue 6/19/18 Tue 7/3/18
Closure of various types of
issues
17 days Tue 6/19/18 Wed 7/11/18
Milestone 3: Completion of
execution phase
0 days Mon 7/9/18 Mon 7/9/18
Project closure phase 4 days Thu 7/12/18 Tue 7/17/18
Completion of gas storage
construction
2 days Thu 7/12/18 Fri 7/13/18
Financial reporting 2 days Mon 7/16/18 Tue 7/17/18
Post project review 1 day Mon 7/16/18 Mon 7/16/18
Milestone 4: Completion of
project closure phase
1 day Mon 7/16/18 Mon 7/16/18
2.2 Discussion on the relative merits of the methods, tools and techniques that is used
It is identified that in this project, agile project methodology will be mainly used as this
project methodology helps in breaking down the entire project into number of manageable as
well as smaller project activities which are mainly not present for re-ordering, however the
activities can be easily managed and tracked. The agile methodology generally helps in

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managing time of the project and therefore frequent reviews on improvement of financial budget
is reference to profitability as well as productivity is provided on a regular basis. It generally
helps in improving the project on a continuous basis by encouraging the various project team
members so that they can be able to properly team up and provide proper effort in managing the
project tasks faster as well as in a very much efficient manner.
Merits of utilized tools and techniques
The advantages of various tools and techniques that are generally used in order to design
as well as organize the activities of the project are illustrated below:
Cost: The cost that is generally needed for completing each of the project activities can
be showcased with the help of schedule. It also helps in providing a clear idea about the project
that is needed for completing the project.
Tracking: The schedule of the project helps in providing the opportunity of tracking the
activities of the project on a regular basis.
Provide appropriate project idea: The project scheduling generally assists in providing
a proper overview about the different activities as well as tasks that are generally needed in order
to complete the repairing of Australian storage tank.
2.3 Comparison with different methodology, tools and techniques
Comparison between waterfall and agile methodology
Agile methodology Waterfall methodology
It is identified that agile methodology mainly It is found that waterfall methodology does

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reflects on time management and thus it
generally focusses on frequent review of time
that is needed by the project activities in
context to profitability and productivity in
order to make sure that the project time will
not exceed.
not reflects on the management of project
time but is generally helps in preventing
number of project related compatibility
issues.
The workers of the project are mainly
encouraged in order to improve the project on
a continuous basis.
The waterfall methodology mainly helps in
allowing the project team for focusing on
various aspect of the project in order to allow
the developers to make sure that proper
quality is maintained within the project
development stage.
Comparison of scheduling and work breakdown structure
Schedule Work breakdown structure
The project managers gets proper
opportunity of tracking the activities of the
project with the help of the project schedule.
Work breakdown structure mainly helps in
organizing the entire work of the team into
number of manageable actions
The cost that is needed in order to execute
each of the activities of the project can be
reflected with the help of the scheduling
technique.
It is found as the groundwork for developing
proper budget plan for the project.

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3. Resource estimation
3.1 Estimation of resources required for the project
The resources that are mainly needed for completing the project are as follows:
Financial resources: It is identified that budget of around $83,000 is needed in order to
complete the repairing of the storage tank properly.
Human resources: The people who mainly involved in project are listed in the table
below:
Resource
Name Type Material
Label Initials Group Max.
Units
Std.
Rate
Ovt.
Rate Cost/Use Accrue
At
Base
Calendar
Project
manager Work 100% $50.00/hr $0.00/hr $0.00 Prorated Standard
Supervisor Work S 100% $40.00/hr $0.00/hr $0.00 Prorated Standard
Contractor Work C 100% $40.00/hr $0.00/hr $0.00 Prorated Standard
Business
analyst Work B 100% $30.00/hr $0.00/hr $0.00 Prorated Standard
Project
planner Work P 100% $35.00/hr $0.00/hr $0.00 Prorated Standard
Site
planner Work S 100% $30.00/hr $0.00/hr $0.00 Prorated Standard
Material resources: The materials that are generally required for repairing the Australian
storage tank are illustrated below:
 Cranes
 Steel coatings
 Stainless steel flow valve
 Mobile resources scaffolding
 Paints

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 Steel anchors
3.2 Integration of resources with schedule
Task Name Duration Start Finish Resource Names
Repairing Australian
Storage facility
81 days Tue 3/27/18 Tue 7/17/18
Initiation phase of
the project
15 days Tue 3/27/18 Mon 4/16/18
Development of
business case
3 days Tue 3/27/18 Thu 3/29/18 Project planner
Feasibility analysis 5 days Fri 3/30/18 Thu 4/5/18 Project manager
Establishment of
project charter
4 days Fri 4/6/18 Wed 4/11/18 Project manager
Appointment of
project team members
5 days Fri 4/6/18 Thu 4/12/18 Site planner
Reviewing
initiation phase of the
project
3 days Thu 4/12/18 Mon 4/16/18 Site planner
Project planning
phase
22 days Tue 4/17/18 Wed 5/16/18
Creation of project
plan
6 days Tue 4/17/18 Tue 4/24/18 Project manager

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development of
project resource plan
7 days Wed 4/25/18 Thu 5/3/18 Project planner
Creation of
financial plan
8 days Wed 4/25/18 Fri 5/4/18 Business analyst
Testing quality 9 days Fri 5/4/18 Wed 5/16/18
Project manager, Business
analyst
Development of
acceptance plan
7 days Mon 5/7/18 Tue 5/15/18
Project manager, Project
planner
Project execution
phase
41 days Wed 5/16/18 Wed 7/11/18
Agreement from
different participants
13 days Wed 5/16/18 Fri 6/1/18 Contractor
Settlement of
external issues
12 days Wed 5/16/18 Thu 5/31/18 Supervisor
Creating agreement
as well as finance for
the project
14 days Mon 6/4/18 Thu 6/21/18 Contractor
Preparatory work
completion
13 days Mon 6/4/18 Wed 6/20/18 Site planner
Strategies that stops
leakage
10 days Fri 6/1/18 Thu 6/14/18 Supervisor
Development of
strategies that resolves
12 days Fri 6/1/18 Mon 6/18/18 Site planner

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issues
Adjustment of
activities
12 days Fri 6/22/18 Mon 7/9/18 Contractor
Completion of
whole repair
14 days Fri 6/22/18 Wed 7/11/18 Site planner
Activity adjustment 10 days Thu 6/21/18 Wed 7/4/18 Project planner
Repair risk
completion
14 days Fri 6/15/18 Wed 7/4/18 Contractor, Supervisor
Analysis of
completed work
11 days Tue 6/19/18 Tue 7/3/18 Contractor, Supervisor
Closure of various
types of issues
17 days Tue 6/19/18 Wed 7/11/18 Contractor, Site planner
Project closure
phase
4 days Thu 7/12/18 Tue 7/17/18
Completion of gas
storage construction
2 days Thu 7/12/18 Fri 7/13/18 Project planner
Financial reporting 2 days Mon 7/16/18 Tue 7/17/18 Project manager
Post project review 1 day Mon 7/16/18 Mon 7/16/18 Project manager
3.3 Critical path
Figure 1: Critical path
(Source: Created by Author)

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3.4 Tools and techniques that are used
It is identified that analogous estimation tool as well as technique is mainly used in order
to estimate the project resources. The technique is used in order to estimate the cost that is
needed for repairing the tank. The technique that is utilized does not able to provide proper
reliable estimation. The main benefit that is provided by this technique is that assists in lowering
costs as well as helps in presenting the result of the project quite easily as well as quickly.

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Bibliography
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