Project Management for Australian Storage Facility Repair Project

This project management assignment focuses on the repair of an Australian storage facility, encompassing detailed budget development, scheduling, and resource estimation. The budget is estimated at $80,000.00, with $57,840.00 allocated for project activities. The project utilizes Agile methodology and Gantt charts for efficient time management and tracking. The assignment includes a comprehensive project schedule outlining initiation, planning, execution, and closure phases, along with the merits of the methods, tools and techniques employed, comparing Agile to Waterfall methodologies and Gantt charts with Work Breakdown Structure. Resource estimation includes financial, human (project manager, supervisor, etc.), and material resources (cranes, steel coatings, etc.), with a critical path analysis. The assignment concludes with a discussion of analogous estimation techniques and a bibliography of relevant sources.

Running head: PROJECT MANAGEMENT
Project Management
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Develop appropriate budget and illustrate all the details that are needed for budget preparation
.........................................................................................................................................................2
1.1 Project budget........................................................................................................................2
1.2 Illustration of the assumptions that are made for preparing the budget................................3
2. Preparation of project schedule and discussion of relative merits of various methods, tools as
well as techniques............................................................................................................................4
2.1 Project schedule.....................................................................................................................4
2.2 Discussion of merits of the methods, tools and techniques used...........................................5
2.3 Compare with different methodology, tools as well as techniques.......................................6
3. Estimation of the resources required for project completion and identification of tools as well
as techniques that might be used.....................................................................................................7
3.1 Estimation of resources for successful project completion...................................................7
3.2 Critical path...........................................................................................................................9
3.1 Tools and techniques used.....................................................................................................9
Bibliography..................................................................................................................................10

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1. Develop appropriate budget and illustrate all the details that are needed for
budget preparation
1.1 Project budget
The budget that is estimated for repairing the Australian storage facility is around
$80,000.00. The budget that is required for completing the various activities of the project is
around 57,840.00. Moreover, the remaining budget will be utilized for additional requirements
that are needed for completing the project within the time and budget that is estimated (Ahern,
Leavy and Byrne 2014).

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Figure 1: Budget Sheet
(Source: Created by Author)
1.2 Illustration of the assumptions that are made for preparing the budget
The assumptions that are made for preparing the budget of the project are as follows:
Cost of the requirement does not vary much: The project manager analyzes the market
and then after identifying the cost of various requirements of the project they estimate the cost
that is spent on the project requirements (Fleming and Koppelman 2016). It is identified that
during preparation of project budget they assumed that the market cost of the requirements does
not very much in comparison to the cost that is assumed by them.
Scope creep will not occur: The project manager assumed that the budget that the scope
creeps would not occur within the project. If it occur then the assumed budget will vary with
then budget that is utilized for completing the project.
Budget for completing the activities: The budget that is assumed for completing the
different activities of the project is around 60,000.00
Budget for planning phase: The project manager assumed that the entire phase of
project planning would be completed within the budget that is around $11,750.
Budget for risk minimization: The project manager assumed that the budget that is
needed for minimizing the risks of Western Australian storage facility is around $5,750.
Additional budget: The project manager assumed that $30,000 would be kept for
additional requirement that are needed for completing the project successfully.

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2. Preparation of project schedule and discussion of relative merits of various
methods, tools as well as techniques
2.1 Project schedule
Milestone Duration Start Finish
Repairing Australian storage
facility 185 days Mon 9/18/17 Fri 6/1/18
Initiation phase 21 days Mon 9/18/17 Mon 10/16/17
Developing business case 3 days Mon 9/18/17 Wed 9/20/17
Undertaking feasibility study 4 days Thu 9/21/17 Tue 9/26/17
Establishing project charter 5 days Wed 9/27/17 Tue 10/3/17
Appointing team members 5 days Wed 10/4/17 Tue 10/10/17
Performing phase review of the
project 4 days Wed 10/11/17 Mon 10/16/17
Completion of initiation phase 0 days Mon 10/16/17 Mon 10/16/17
Planning phase 32 days Tue 10/17/17 Wed 11/29/17
Creating project plan 7 days Tue 10/17/17 Wed 10/25/17
Creating resource plan 6 days Thu 10/26/17 Thu 11/2/17
Creating financial plan 8 days Fri 11/3/17 Tue 11/14/17
Creating quality plan 5 days Wed 11/15/17 Tue 11/21/17
Creating acceptance plan 6 days Wed 11/22/17 Wed 11/29/17
Completion of project planning
phase 0 days Wed 11/29/17 Wed 11/29/17
Execution phase 126 days Thu 11/30/17 Thu 5/24/18
Achievement of agreement from
participants 10 days Thu 11/30/17 Wed 12/13/17
Settlement of external issues 11 days Thu 12/14/17 Thu 12/28/17
Agreement and financing of the
project 12 days Fri 12/29/17 Mon 1/15/18
Preparatory work completion 15 days Tue 1/16/18 Mon 2/5/18
Completion of work that
prevent leakage 8 days Tue 2/6/18 Thu 2/15/18
Creating proper condition that
minimizes risk 9 days Fri 2/16/18 Wed 2/28/18
Adjustment of activities 11 days Thu 3/1/18 Thu 3/15/18

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Completion of whole repair risk 10 days Fri 3/16/18 Thu 3/29/18
Activities adjustment 7 days Fri 3/30/18 Mon 4/9/18
Completion of repair risk 8 days Tue 4/10/18 Thu 4/19/18
Analysis of work completed 13 days Fri 4/20/18 Tue 5/8/18
Closure of issues that reduces
environmental fines 12 days Wed 5/9/18 Thu 5/24/18
Completion of execution phase
of the project 0 days Thu 5/24/18 Thu 5/24/18
Closure phase 6 days Fri 5/25/18 Fri 6/1/18
Completion of construction
work 2 days Fri 5/25/18 Mon 5/28/18
Reporting by financial experts 2 days Tue 5/29/18 Wed 5/30/18
Analysis of completed project 1 day Thu 5/31/18 Thu 5/31/18
Completion of closure phase 1 day Fri 6/1/18 Fri 6/1/18
2.2 Discussion of merits of the methods, tools and techniques used
Merits of Methodology used
In this project, Agile methodology is mainly utilized as it helps in breaking down the
project delivery into number of smaller as well as manageable activities that are generally not
available for re-ordering but that be easily tracked as well as managed for completion (Hornstein
2015). The agile methodology generally focuses on management of time and thus frequent
reviews for improving the financial management of the project in context to productivity as well
as profitability is done on a regular basis (Kerzner 2013). It assists in opening the door of
continual improvement by encouraging the team members of the project so that they can team up
and provide their appropriate effort in managing the construction related task for doing different
things faster as well as better.
Merits of utilized tools and technique
The utilized tools and technique is Gantt chart that helps in designing as well as
organizing the project efficiently. The advantages of project schedule are as follows:

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Provide tracking: The project schedule that is created in the gnat chart helps the project
managers to keep track on the activities of the project.
Cost: The cost that is needed for each activity of the project can be reflected with the
help of the schedule and thus the project gets an overview about the budget that spent on
completing the activities of the project (Mir and Pinnington 2014).
Proper idea about the project activities: The project scheduling that is done with the
help of gnat chart helps in providing clear overview about the project activities that are required
to be completed for executing the project successfully.
2.3 Compare with different methodology, tools as well as techniques
Comparison of agile methodology with waterfall
Agile methodology Waterfall methodology
The agile methodology generally focuses on
management of time and thus frequent reviews
for improving the financial management of the
project in context to productivity as well as
profitability is done on a regular basis (Svejvig
and Andersen 2015).
Waterfall methodology does not focus on time
management however it helps in preventing
various types of compatibility issues related
with the project.
It generally encourages workers for continual
improvement and provides the same input to
the construction manager for doing it fast.
The waterfall methodology generally allows
the team to focus on different aspect of project
for allowing the developers to ensure proper
quality of development at each stage (Lock

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2014).
Comparison of scheduling and work breakdown tools and techniques
Gantt chart Work breakdown structure
The gnat chart helps the project managers to
keep track on the activities of the project.
Work breakdown structure assists in
organizing the work of the team into different
manageable sections (Hornstein 2015).
The cost that is needed for each activity of
the project can be reflected with the help of
the schedule and thus the project gets an
overview about the budget that spent on
completing the activities of the project
(Nicholas and Steyn 2017)
It is considered as the groundwork for
developing good budget plans for the project
3. Estimation of the resources required for project completion and
identification of tools as well as techniques that might be used
3.1 Estimation of resources for successful project completion
The resources that are estimated for successful project completion are as follows:
Financial resources: The financial resources that is estimated for completing the project
successfully is around $80,000.00

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Human resources: The human resources that are needed for completing the project are
as follows:
Resource
Name Type Max.
Units Std. Rate Ovt. Rate Cost/Use Accrue At Base
Calendar
Project
manager Work 100% $40.00/hr $0.00/hr $0.00 Prorated Standard
Supervisor Work 100% $30.00/hr $0.00/hr $0.00 Prorated Standard
Contractor Work 100% $30.00/hr $0.00/hr $0.00 Prorated Standard
Business
analyst Work 100% $25.00/hr $0.00/hr $0.00 Prorated Standard
Project planner Work 100% $35.00/hr $0.00/hr $0.00 Prorated Standard
Site planner Work 100% $30.00/hr $0.00/hr $0.00 Prorated Standard
Material resources: The estimated material resource for repairing the Australian storage
tank is provided below:
Requirements
Cranes
Steel coatings
Paint
Steel anchors
stainless steel flow valve
Components to improve the infrastructures
Mobile resources scaffolding
Top level tank

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3.2 Critical path
Figure 1: Critical Path
(Source: Created by Author)
3.1 Tools and techniques used
Analogous estimation tool and technique is utilized for estimating the resources of the
project. This technique is mainly utilized for estimating the cost that is required for repairing the
Australian storage capacity. It is identified that the technique that is utilized in this project does
not helps in providing proper as well as reliable estimation (Lock 2014). The main identified
benefit of this technique is that it helps in lowering cost as well as helps in presenting the result
quite quickly.

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Bibliography
Ahern, T., Leavy, B. and Byrne, P.J., 2014. Complex project management as complex problem
solving: A distributed knowledge management perspective. International Journal of Project
Management, 32(8), pp.1371-1381.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Hornstein, H.A., 2015. The integration of project management and organizational change
management is now a necessity. International Journal of Project Management, 33(2), pp.291-
298.
Hwang, B.G. and Ng, W.J., 2013. Project management knowledge and skills for green
construction: Overcoming challenges. International Journal of Project Management, 31(2),
pp.272-284.
Kerzner, H., 2013. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring and
monitoring project performance. John Wiley & Sons.
Larson, E.W. and Gray, C., 2013. Project Management: The Managerial Process with MS
Project. McGraw-Hill.
Leach, L.P., 2014. Critical chain project management. Artech House.
Lock, M.D., 2014. The essentials of project management. Ashgate Publishing, Ltd..