Analysis of Bloomberg Head Quarters Project Management Report

This report provides a comprehensive analysis of the new Bloomberg Head Quarters construction project in London. It begins with an overview of the project, emphasizing its landmark status and commitment to sustainable development, including its BREEAM outstanding rating. The report then conducts a PESTLE analysis, examining the political, economic, social, technological, legal, and environmental factors influencing the project's strategic drivers and business case. A detailed discussion of quality issues faced during construction, such as finding quality labor, partners, poor communication, understanding project specifications, and material checks is also included. The report further explores the traditional procurement route used for the project and contrasts it with the NEC contract, highlighting the advantages and disadvantages of each. The comparison between JCT and NEC contracts is also provided. This report offers valuable insights into project management principles and practices within a real-world construction context.

Running head: PROJECT MANAGEMENT
New Bloomberg Head Quarters
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Overview of project................................................................................................................2
2. PESTLE analysis....................................................................................................................2
3. Analysis of the issues.............................................................................................................4
4. Traditional procurement route................................................................................................6
5. NEC contract..........................................................................................................................7
References..................................................................................................................................9

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1. Overview of the project
The paper mainly reflects on the new Bloomberg Head Quarters that are mainly
situated in the Centre of London and was mainly considered as the landmark for the entire
construction project. It is found that the entire building was designed as a fitting structure for
a major corporation but the development of the building is done in such a way that the
building remains environment-friendly when it comes in operation. It is considered as a true
exemplar for sustainable development with proper BREEAM outstanding rating which is the
highest design stage score that is achieved by any of the major office development.
2. PESTLE analysis
It is found that in order to assess the strategic external as well as internal drivers of
the project, a proper PESTLE analysis was undertaken. According to (), PESTLE analysis is
considered as one of the framework or tool that is helpful in analyzing as well as monitoring
different types of macro-environment based factors which generally have a proper profound
impact on the performance. The evaluation generally considers different types of factors that
will be helpful in underpinning the business case and the ways in which the entire project will
generally be designed.
Political: It is found that the Trump administration has mainly introduced volatility
within the stock markets which further have generally increased the demand for the services
of Bloomberg due to which the construction of Bloomberg Head Quarters are done in the
center of London however, it is analyzed that the company faces a number of financial
challenges as well as issues (Rastogi and Trivedi 2016). In addition to this, the GDP was
around $22 million in the USA that further helps in rising the growth of the businesses which

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will be quite beneficial for the company and therefore the company wants to expand its
business.
Economic: It is found that during construction, the entire work was done within the
budget that is allocated and in addition to this, the economic policy of the country has favored
high tax firms to cut their income tax. It is found that this particular practice is helpful in
increasing the client of the company due to which the Bloomberg Head Quarters was
constructed in the center of London (Darabpour et al. 2018). Moreover, the design of the
entire building was done in such a way that the building will not create any environmental
issue during operation which is further economical.
Social: It is found that the design of the building is created in such a way that the
building will not create any type of environmental issue while undertaking operation and
therefore so social challenges will occur (Ansah et al. 2016). In addition to this, it is found
that sustainable construction of Bloomberg Head Quarters is done by using different types of
renewable as well as recyclable resources which helps in creating a sustainable building for
protecting the natural environment. Moreover, it is considered as one of the big examples of
sustainable development as the building consists of smart airflow, water conservation, natural
ventilation as well as integrated petal design Ceiling.
Technological: The technology of Bloomberg is considered as a part of fabric within
the financial markets which helps in properly designing, strengthening, deploying as well as
architecting within the global network (Moro Visconti 2016). The construction of the
building is done properly such that the company can be able to utilize AI, machine learning
as well as NLP. In addition to this, the building design is technologically advanced as well as
sustainable.

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Legal: The labor system within the US is considered to be individualistic that helps in
promoting entrepreneurship which is further helpful in increasing the market share effectively
by attracting the founders of different business organizations. Moreover, the various legal-
based framework is generally getting complicated by the different state laws such that the
company generally needs to increase the internal audits effectively (Achinas et al. 2019).
Environmental: It is identified that during construction, the organization is very much
concerned about the impact of the project on the environment and Bloomberg is generally
leveraging this as an opportunity and is providing different types of sustainability advice but
it also faces a number of pressures from the project stakeholders (Racz 2018). In addition to
this, the design of the building includes smart airflow, water conservation, natural ventilation
as well as integrated petal design ceiling which do not create any type of environmental issue
when the building is in operation.
3. Analysis of the issues
Quality is always considered as one of the prestigious approaches or parts for the
construction of Bloomberg Head Quarters in London. It is found that a number of quality-
related issues occur when the scope of the project is generally considered in context to the
quality of the clients as well as different end-users. According to Jraisat, Jreisat and Hattar
(2016) if while undertaking Bloomberg Head Quarters construction project, if proper
supervision on work is not provided in order to complete the work as per the client's need and
requirement then there are chances that the constructor may face a number of awaiting
disaster. In addition to this, auditing is considered to be quite important for undertaking
quality based construction (Sacks et al. 2017). It is found that if the audit is not performed
properly then the success of the construction work does not get properly determined and as a
result, the performance of the project is not effectively determined. On the other hand, it is

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stated by Mane and Patil (2015) that if for meeting the scope of the project, if the workers
utilize improper quality procedures then a log of challenges can generally occur.
In order to meet the quality for Bloomberg Head Quarters construction project, the
contractors face a number of challenges which are mainly elaborated below:
Finding quality labor: If the quality workers are not identified then they are unable to
work effectively in the project for maintaining the quality. It is found that experienced team
members can be able to maintain quality in the project for meeting the needs of the clients
(Shobana and Ambika 2016). Furthermore, identifying experienced and knowledgeable
workers helps in maintaining proper quality in the project.
Finding proper partners: It is found that finding quality partners is one of the key
components for successfully maintaining a proper contracting business. In addition to this, if
the contractors are unable to find vendors as well as suppliers, then they are unable to work
effectively in order to maintain the quality of the project. The main key to overcome such
challenges is to utilize a proper relationship with the vendors and suppliers for maintaining
proper project quality.
Poor communication: Poor communication is one of the common challenges that
have far-reaching effects when it is mainly related to the management of quality based
Bloomberg Head Quarters construction projects (Larsen et al. 2016). Due to improper
communication, the team members and the team leaders are unable to communicate
important points that are mainly associated with the project quality and as result, thee
contractor faced challenges in meeting proper quality as per the needs of the end-user or the
clients.

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It is found that proper discussion about quality principles is done which are helpful in
ensuring that proper quality needs are met successfully.
Understanding the specification of the project: It is very much important to properly
understand the quality specifications as well as the standards of the project effectively. If
those standards are properly stated while undertaking Bloomberg Head Quarters construction,
then it can be ensured that proper quality is mainly followed within the entire project.
Ensuring different quality needs: If the project team can be able to understand
different types of quality needs and requirement then it can be ensured that the team members
can be able to work as per the needs and will be able to meet the various quality requirements
of the project (Mane and Patil 2015). This is further helpful in maintaining proper quality in
the project such that the expectations of the client can be achieved successfully.
Checking materials: If the qualities of the materials are checked before using within
the Bloomberg Head Quarters construction, then it can be ensured that the project will be
undertaken effectively for meeting the various quality requirements of the project managers
and the workers. This further helps in constructing quality based construction for fulfilling
the project goals and objectives.
Testing: It is quite necessary to undertake testing from time to time for making sure
that various items, as well as structures, are constructed quite effectively within the project
which further reflects that the project will maintain proper quality standards within the entire
project (Jraisat, Jreisat and Hattar 2016).
4. Traditional procurement route
As per the client, the construction project of Bloomberg Head Quarters will be
preceded by using the traditional procurement route. The procurement route is one of the

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single-stage projects where the design is generally developed in detail by one of the
consultant teams who is working for the clients and a contractor is then properly appointed
under the contract of lump-sum construction which further includes different types of
penalties. It is found that there are a number of the traditional route including traditional
procurement route, design and build procurement, construction management procurement
route as well as management contractor procurement route (Alhusban et al. 2017). It is found
that out of all procurement routes, the traditional procurement route is mainly selected for the
Bloomberg Head Quarters project. This procurement route is mainly selected as proper
design quality can be delivered as the design of the project is completed as per the consultant
of the clients. In addition to this, the client can be able to select the lowest tender based price
as the contractor will tender as per the information that is provided (Muhammad, Adamu and
Ladi 2015). In addition to the advantages of using the traditional procurement route in the
Bloomberg Head Quarters project, there are a number of disadvantages which must be
properly handled. It is found that the preparation time is long as the design is mainly
completed by the consultation of the clients (Marzouk and Elmesteckawi 2015).
5. NEC contract
It is found that the new Bloomberg Head Quarters was mainly managed under the
NEC contract which is a family of contracts that helps in facilitating proper and successful
implementation of sound project management based principles as well as practices which
further define different types of legal relationships (Brooks et al. 2016). Within the
Bloomberg Headquarters project, this contract is considered suitable as it helps in procuring
various ranges of works, supply as well as services that generally spans over a major
framework of the project. On the other hand, it is found that if the JCT contract (The Joint
Contracts Tribunal) is utilized in the Bloomberg headquarters project then it will be helpful in

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delivering the entire project effectively (Davis and Thurlow 2016). The utilization of the JCT
contract in the project will be helpful in minimizing the cost of the transaction and it further
helps in allocating risk in a very much fair as well as recognizable way. The comparison
between the JCT contract and NEC contract is provided below:
Criteria JCT contract NEC contract
Price The JCT contract is
considered as one of the price
lump sum based contracts.
On the other hand, the NEC
contract helps in offering a
fixed lump sum based
contract.
Provisional sums It is found that when the JCT
contract contains provisional
sums when it is used within
the project (Powell-Smith
2019).
On the other hand, if NEC
contract when utilized in
Bloomberg Head Quarters
project then it does not
contains the provisional sum
Cost scrutiny With the help of the JCT
contract in Bloomberg Head
Quarters project, there will
be some type of cost scrutiny
either with the help of tender
negotiations or with the help
of contract sum analysis.
When the NEC contract is
used in Bloomberg Head
Quarters project then the key
concepts related to cost are
discussed by disallowing the
cost (Abotaleb and El-
Adaway 2017).

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References
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Achinas, S., Horjus, J., Achinas, V. and Euverink, G.J.W., 2019. A PESTLE Analysis of
Biofuels Energy Industry in Europe. Sustainability, 11(21), p.5981.
Alhusban, M., Danso-Amoako, M. and Gaterell, M., 2017. Procurement route and Building
Information Modelling (BIM) implementation effect on sustainable higher education
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Darabpour, M.R., Darabpour, M., Sardroud, J.M., Smallwood, J. and Tabarsa, G., 2018.
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Engineering Journal, 4(10), pp.2450-2465.

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Davis, T. and Thurlow, P.N., 2016. Briefing: Good faith obligations in NEC
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