Project Management Course: Reflection Journal Analysis Report

This reflection journal analyzes a project management course, focusing on procurement and financial risks within complex projects, particularly those utilizing the Public-Private Partnership (PPP) model. The student identifies key project constraints, such as vendor commitment, cost pressures, and inadequate delivery models, using the nRAH project as a case study. Financial risks, including inefficient estimation and inaccurate budget documentation, are also examined. The student applies course concepts to propose mitigation strategies, including adherence to procurement guidelines and performance-based contracting. The journal highlights the importance of identifying root causes, analyzing risks, and recognizing the project manager's role in risk control, team development, and effective project planning. The student reflects on the connection between management and leadership, emphasizing the value of the course in enhancing professional knowledge and skills for a career in project management.

Running head: REFLECTION JOURNAL ANALYSIS
REFLECTION JOURNAL ANALYSIS
Name of the Student
Name of the University
Author Note

1REFLECTION JOURNAL ANALYSIS
After attending the course analysing course materials identify that there are someTypical
procurement and financial risks require to be managed for complex projects. Analysing of
these constraints is important for successfully managing the project. from the course I have
identified some project constraints for Complex projects including procurement management
financial risk vendor negotiation stakeholder management n delivery of project within
approved timeline and budget. The concept that I have learnt from the course has been
applied for analysing the case study of nRAH project. Some of the procurement risk that I
have identified from the project case study related to this nRAH project are:
 Project delays due to lack of vendor commitment
 Cost pressures due to increase in product cost by vendor
 the ppp contractual requirements that are defined in the PPP agreement has
violated
 Exposures to legal risk for breach of contract
 Claims that are made against the state is not accurate
 Industrial disputes regarding service and contract
 Inadequate delivery designed for various health enterprise ict systems designed for
health enterprise is not adequate
 Uncoordinated relocation to the new rah site adversely affecting the safe transition
of
 Services and patients
 staff deployed by the vendor does not have required expertise

 the intended benefits and outcomes that are delivered in the project is not adequate
 delivery model in the project is not sustainable

2REFLECTION JOURNAL ANALYSIS
According to my knowledge about project management I have identified that financial risk
has always been and an important consideration in a complex project. As this project is
conducted through PPP model, some key financial risks are relevant in this project of nRAH.
Some of these risks include exchange rates, tracking payments and orders, payment terms and
invoicing. As common with complex projects, I have identified that this project had issue,
which include inefficient financial estimation due to lack of resource planning. As a
successful project manager, what I have learned is that it is important to identify the root
cause of a problem, no matter how insignificant it might seem from the project point of view.
Whenever a new project is undertaken, it is important to analyse risk of various categories. In
order to analyse the financial risk, I have analysed risks that were reported regarding
procurement and financial management.
First major shortfall that I noticed in the case study that there were certain cost that are
directly related to the project , but these costs were neither reported, not included in the
budget. When I analysed the case study in detailed, I identified that the initial auditing
identified that there were potential funding shortfall regarding implantation of ICT service in
this project, which increases cost pressure. However, this was not reported in a timely basis.
According to me, this made an incorrect cost expenditure analysis, which has potential for
budget overflow. Even the documentation that was presented to the cabinet was also not
accurate and this has led to an inaccurate budget estimation, which requires modification and
improvement. The project has delayed significantly due to inaccurate planning and lack of
project governance and this according to me is going to be an important factor for the project
as this will increase the budget of the project and hence this is going to be a significant
financial risk, which will affect the completion of the project.
As I have already mentioned, this project has various procurement and financial risk, my next
objective was to identify possible mitigation actions as this will help me a lot in developing

3REFLECTION JOURNAL ANALYSIS
strategies for mitigation risk of complex project specially projects executed through PPP
model
As already identified that there are various procurement issues for which I have followed
guidelines provided by south Australia procurement board or SPB.
Progress report regarding clinical equipment will be communicated with the state board
quarterly. According to me, this is an effective approach, as this will help state board to
review any discrepancies in the contractual and procurement process and making an accurate
estimation and control and project cost as well.
This will also allow state board to monitor overall procurement process closely and thus will
help them to identify any issue, which will increase transparency in the overall process and
thus strengthening relationship with the vendor while provudi8ng opportunity for both the
party to control and manage the overall procurement process.
Next important lesson that I have learned from the course is performance-based procurement
contracting which I have applied for analysing the project case study of nRAH. From the
course what I have understood is that performance based contract provides payment
according to the performance of the supplier and this is what is required in the nRAH project
as quality of supply has been an significant issue so far in the project. As the project has
financial risk, I also recommended that predetermined return on investment offered by the
performance-based contract should be considered in this report for better control over cost
expenditure.
As I aspire to become a successful project manager through an effective knowledge of project
management, it is extremely important for me to analyse the roles and responsibility of
project manager. Some of the quality that I have identified from the course is control over

4REFLECTION JOURNAL ANALYSIS
project risk, develop effective project teams, coordination between different project teams,
develop and execute project plan for ensuring success in the project.
Some important qualities described in the course for procurement management are also
important and I think it is important for a professional to have knowledge about these
qualities for success in the profession in the field of project management. These qualities are
negotiation of change in project, defining and designing strategy for implanting required
changes regarding contracts and procurement and make procurement process consistent with
project requirements while managing different constraints regarding procurement in the
project.
This course has helped me a lot in identifying various qualities of successful project manager
and how leadership skills should be attributed in project management. I had little idea that
management and leadership are closely associated and this is required for project
management profession. Along with that, this course has helped me learn different aspects of
projects executed through public private project model about which I had only basic idea
before this course. This course has helped me to learn a lot and increase my knowledge about
those topics, which I think will be helpful for me in my professional carrier as project
manager.