University Project Management: Fuel Tank Repair Project Analysis

This project management assignment details a comprehensive plan for repairing three large fuel tanks. The project aims to avoid significant environmental fines by addressing the tanks' deteriorating condition. The assignment meticulously outlines the project budget, employing a traditional line budgeting approach, with detailed cost breakdowns for labor, materials, and equipment, and includes assumptions made during the budget preparation. A project schedule is developed, considering operational constraints and utilizing Gantt charts and work breakdown structures. The Waterfall model is selected for project implementation. The assignment also provides a detailed work breakdown structure and resource allocation, specifying the types and quantities of resources required. The document includes tables, charts, and figures to illustrate project timelines, deliverables, and resource utilization, demonstrating a structured approach to managing the complexities of the fuel tank repair project.

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

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Table of Contents
1. Project Budget.................................................................................................................2
2. Project Schedule..............................................................................................................4
3. Resources Used................................................................................................................9
4. References......................................................................................................................13

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1. Project Budget
The project aims at repairing the three large Fuel Tanks, as the condition of this tank is
very bad. The tanks are over 50 years old and therefore the company has to pay $20000 per
month as environmental fines. In order to avoid that the company is planning to repair the fuel
tanks.
In order to develop an effective budget for any project, the project manager should
acknowledge the importance of cost management by understanding the basic cost concepts in
budget estimation. The importance of profits and profit margins and analysis of cash flow is
utmost important in estimating the budget of a project. The budgeting process that is considered
for developing the budget of this process is traditional line budgeting. In this budgeting
approach, an amount of money is allotted for a specific duration and helps in spending the
money according to the plan. Therefore, this budgeting theory is implemented for this case (Van
de Vonder et al., 2008).
A budget is estimated for the whole project, which includes the costing of the staffs,
materials and paint. The estimated budget for the whole project is elaborated in the following
table-
Task Name Duration Cost
Fuel Tank Repairing 148 days $770,200.00
Project Starts 0 days $0.00
Feasibility Study 8 days $5,120.00
Technical Feasibility 4 days $2,560.00
Operational Feasibility 4 days $2,560.00
Requirement Analysis 4 days $2,560.00
Meeting with Client 1 day $640.00
Knowing basic Requirements 3 days $1,920.00
Planning 25 days $22,640.00
Technical Requirement 8 days $5,120.00

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Budget Estimation 13 days $15,600.00
Documenting the Requirements 3 days $1,920.00
Client's Approval 1 day $0.00
Implementation 103 days $739,240.00
Repairing Tank 1 34 days $234,320.00
4 Steel Patch 5 days $10,000.00
Adding 4 Steel anchor on top of the
tank 5 days $20,000.00
Cleaning the tank 12 days $1,920.00
Repainting the Tank 12 days $202,400.00
Repairing Tank 2 34 days $237,120.00
working on 7 Steel Patch 5 days $11,400.00
Adding 4 Steel anchor on top of the
tank 5 days $21,400.00
Cleaning the tank 12 days $1,920.00
Repainting the Tank 12 days $202,400.00
Repairing Tank 3 35 days $267,800.00
6 steel patch 5 days $11,400.00
Adding 4 Steel anchor on top of the
tank 5 days $21,400.00
Replacement of main supply valve 5 days $31,400.00
Cleaning the tank 10 days $1,600.00
Repainting the Tank 10 days $202,000.00
Project Handover 8 days $640.00
Documents Handover 1 day $640.00
Documents Archive 2 days $0.00
Payment completion 2 days $0.00
Client Feedback 2 days $0.00
Client Sign off 1 day $0.00
Project Ends 0 days $0.00
Table 1: the budget estimation of the Project
(Source: Created by author using MS Project)
While preparing the budget of this project, the extreme conditions are kept in mind. The
costing includes the cost of the materials needed as well as the staffing cost for the entire project.
Since the accessing the fuel tanks is complex and difficult, the fare of renting a large and a small

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crane is included in the budget as well. Since the normal working of the tanks cannot be
disturbed, the repairing works of the tanks are done one by one.
The assumptions made while preparing this budget are listed below-
1) The number of staffs assumed for patch repairing, adding steel anchor, cleaning and
painting is sufficient for the project to be completed within time
2) The rate of the laborers will not increase in the couple of months
3) The materials needed will be readily available, and there will be no shortage of
materials.
4) The cost estimated for the materials will be sufficient for fetching all the required
materials.
2. Project Schedule
The main objective of this project is the repairing of the fuel tank without disrupting the
normal operations of the tank. The first tank approximately takes 6 hours to fill during which no
works can be done. Similar is the case for tank 2 and tank 3. Therefore, the project schedule is
estimated keeping in mind this time constraints. Furthermore, the works on all the tanks are not
started simultaneously in order to manage the work of all these tanks in a better method.
Proper project scheduling is important for implementing the project in according to the
project aim and objectives. The different techniques and approaches involved in developing a
proper project schedule include development of Gantt chart, analyzing the critical paths and so
on (Larson & Gray, 2013). The major two techniques that are used for proper scheduling of a
project include Gantt chart or milestone charts that is used to mark the significant events in the

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project life cycle and the critical activities of the project (Burke, 2013). Another important
technique used for proper project scheduling is development of activity network or work
breakdown structure that gives the detailed knowledge about the tasks needed to be completed
and the dependencies among the different tasks along with the priorities (Kerzner, 2013).
The deliverables of the project are listed in the following table-
Task Name Duration
Fuel Tank Repairing 148 days
Project Starts 0 days
Feasibility Study 8 days
Requirement Analysis 4 days
Planning 25 days
Implementation 103 days
Project Handover 8 days
Project Ends 0 days
Table 2: The Project deliverables
(Source: Generated by author using MS Project)
The Milestone of the project are elaborated in the following table
Task Name Duration Start Finish
Fuel Tank Repairing 148 days Wed 01-11-17 Fri 25-05-18
Project Starts 0 days Wed 01-11-17 Wed 01-11-17
Feasibility Study 8 days Wed 01-11-17 Fri 10-11-17
Requirement Analysis 4 days Mon 13-11-17 Thu 16-11-17
Planning 25 days Fri 17-11-17 Thu 21-12-17
Implementation 103 days Fri 22-12-17 Tue 15-05-18
Project Handover 8 days Wed 16-05-18 Fri 25-05-18
Project Ends 0 days Fri 25-05-18 Fri 25-05-18
Table 3: Representing the Project Milestone

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(Source: Created by author using MS Project)
It is assumed that the project will be completed within the given schedule and the
workers will not face any difficulty in implementing the project within the allotted time. The
chosen methodology for this project is Waterfall model approach. Waterfall model is a
sequential design process that is used in implantation of the project. Since the repairing of the
fuel tanks will be completed one by one, therefore this project method will be best for successful
implementation of the project (Balaji & Murugaiyan, 2012).
The merit of choosing waterfall model over agile methodology is that, it is a sequential
process and therefore, the project is implemented according to the scheduled plan. Furthermore,
the time of completion of the project generally remains unchanged in waterfall model, while in
agile methodology; there remains a high chance for the project being not completed within the
scheduled time, as different other project features are incorporated in the project while the
project is in the implementation stage (Kerzner, 2013.).
The Gantt chart of the project is illustrated below-

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Figure 1: Representing The Gantt Chart of the project
(Source: Generated by author using MS Project)
The detailed work breakdown structure of the project is elaborated in the following table
–
WBS Task Name Duration Start Finish
0 Fuel Tank Repairing 148 days Wed 01-11-17 Fri 25-05-18
1 Project Starts 0 days Wed 01-11-17 Wed 01-11-17
2 Feasibility Study 8 days Wed 01-11-17 Fri 10-11-17
2.1 Technical Feasibility 4 days Wed 01-11-17 Mon 06-11-17
2.2 Operational Feasibility 4 days Tue 07-11-17 Fri 10-11-17
3 Requirement Analysis 4 days Mon 13-11-17 Thu 16-11-17
3.1 Meeting with Client 1 day Mon 13-11-17 Mon 13-11-17
3.2 Knowing basic Requirements 3 days Tue 14-11-17 Thu 16-11-17
4 Planning 25 days Fri 17-11-17 Thu 21-12-17
4.1 Technical Requirement 8 days Fri 17-11-17 Tue 28-11-17
4.2 Budget Estimation 13 days Wed 29-11-17 Fri 15-12-17

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4.3 Documenting the Requirements 3 days Mon 18-12-17 Wed 20-12-17
4.4 Client's Approval 1 day Thu 21-12-17 Thu 21-12-17
5 Implementation 103 days Fri 22-12-17 Tue 15-05-18
5.1 Repairing Tank 1 34 days Fri 22-12-17 Wed 07-02-18
5.1.1 4 Steel Patch 5 days Fri 22-12-17 Thu 28-12-17
5.1.2 Adding 4 Steel anchor on top
of the tank 5 days Fri 29-12-17 Thu 04-01-18
5.1.3 Cleaning the tank 12 days Fri 05-01-18 Mon 22-01-18
5.1.4 Repainting the Tank 12 days Tue 23-01-18 Wed 07-02-18
5.2 Repairing Tank 2 34 days Thu 08-02-18 Tue 27-03-18
5.2.1 working on 7 Steel Patch 5 days Thu 08-02-18 Wed 14-02-18
5.2.2 Adding 4 Steel anchor on top
of the tank 5 days Thu 15-02-18 Wed 21-02-18
5.2.3 Cleaning the tank 12 days Thu 22-02-18 Fri 09-03-18
5.2.4 Repainting the Tank 12 days Mon 12-03-18 Tue 27-03-18
5.3 Repairing Tank 3 35 days Wed 28-03-18 Tue 15-05-18
5.3.1 6 steel patch 5 days Wed 28-03-18 Tue 03-04-18
5.3.2 Adding 4 Steel anchor on top
of the tank 5 days Wed 04-04-18 Tue 10-04-18
5.3.3 Replacement of main supply
valve 5 days Wed 11-04-18 Tue 17-04-18
5.3.4 Cleaning the tank 10 days Wed 18-04-18 Tue 01-05-18
5.3.5 Repainting the Tank 10 days Wed 02-05-18 Tue 15-05-18
6 Project Handover 8 days Wed 16-05-18 Fri 25-05-18
6.1 Documents Handover 1 day Wed 16-05-18 Wed 16-05-18
6.2 Documents Archive 2 days Thu 17-05-18 Fri 18-05-18
6.3 Payment completion 2 days Mon 21-05-18 Tue 22-05-18
6.4 Client Feedback 2 days Wed 23-05-18 Thu 24-05-18
6.5 Client Sign off 1 day Fri 25-05-18 Fri 25-05-18
7 Project Ends 0 days Fri 25-05-18 Fri 25-05-18
Table 4: The work breakdown structure of the project
(Source: Created by author using MS project)

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Fuel Tank Repairing
Project Starts Feasibility Study
Technical Feasibility
Operational
Feasibility
Requirement Analysis
Meeting with Client
Knowing basic
Requirements
Planning
Technical
Requirement
Budget Estimation
Documenting the
Requirements
Client's Approval
Implementation
Repairing Tank 1
4 Steel Patch
Adding 4 Steel anchor
on top of the tank
Cleaning the tank
Repainting the Tank
Repairing Tank 2
working on 7 Steel
Patch
Adding 4 Steel anchor
on top of the tank
Cleaning the tank
Repainting the Tank
Repairing Tank 3
6 steel patch
Adding 4 Steel anchor
on top of the tank
Replacement of
main supply valve
Cleaning the tank
Repainting the Tank
Project Handover
Documents
Handover
Documents Archive
Payment completion
Client Feedback
Client Sign off
Project Ends
Figure 2: the work breakdown Structure of the Project
(Source: Created by author using MS schedule Pro)
3. Resources Used
The resource requirement for this project is clear but the proper allocation of resources in
necessary keeping in mind the complexity of the project (Phillips, 2013). The process of resource
allocation helps in assigning and scheduling the resources available for the project in an
economic manner (Kogan et al., 2017). It is the responsibility of the project manager to
determine the proper timing of the available resources with the project schedule. The resource
allocation of this project abides by the contingency approach, which includes funding of the
resources and prioritizing the resources to be used according to the business objectives. It also
indicates the less important resources that can be possibly sacrificed in the project do not fit
according to the budget.

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The different resources that will be mainly used for implementing the repairing works of
the fuel tank are listed in the following table-
Resource Name Type Max. Units Std. Rate
Project Manager Work 100% $80.00/hr
Steel Patch 2m2 Material $10,000.00
Steel Patch 3m2 Material $10,000.00
Steel Patch1.5m2 Material $10,000.00
Steel anchors T1 Material $20,000.00
Steel anchors T2 Material $20,000.00
Steel anchors T3 Material $20,000.00
Supply Valve Material $30,000.00
Workers Work 2,200% $35.00/hr
Paint Material $200,000.00
Cleaning Staff Work 1,000% $20.00/hr
Painter Work 2,000% $25.00/hr
Archieve Cost
Business Analyst Work 100% $70.00/hr
Renting large crane Cost
Renting small crane Cost
Table 5: The resources used in the project
(Source: created by author)
The project manager is appointed for a developing a detailed project plan and ensuring
the project implementation. A business analyst is required to check that the business is not
hampered with the implementation of the project and the normal operational work remains
unaltered with this project. Furthermore, the materials required for the project are listed below
1) Steel patches of sizes 2m2(4 pieces), 3m2(7 pieces) and 1.5m2(6 pieces).

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2) 12 steel anchors required on the top of the tank
3) One main supply valve of 300mm in diameter and made of stainless steel
4) One large and one small crane in lent
Apart from the materials to be used, the major resources required for the project is labors
and workers for implementing the project.
Since the project including cleaning and painting of the outside of the tank as well, the
cleaning staffs and the painting staffs are also to be hired. They should have the knowledge about
the fact that the tanks cannot be accessed only for a few hours a day, as while filling of the tank,
it becomes impossible to work there due to highly flammable vapors venting from the tanks as
they fill. Therefore, all the workers should have a detailed knowledge about the time when the
tank docks for fuel filling.
The workers are the major resource for this project as repairing the tank from great
heights is difficult and the site is triangular in shape, which makes its access more difficult.
The tanks are to be repainted and therefore the resource planning should include the
amount of paint that will be needed for painting the three tanks. The workers for painting the
tanks should also be considered in the resource planning.
Therefore, this major resource will be required for completion of the project fuel tank
repairing successfully.
The resource planning is done according to the schedule of the project and the resources
that will be required for each project deliverable is also preplanned.