Project Management Under Global Scenario: Western Sydney Plan

This project explores project management in a global context, focusing on the Western Sydney Infrastructure Plan. The assignment begins by identifying essential personal traits for project managers, including technical expertise, negotiation skills, empathy, competence, and decision-making abilities. It then analyzes the Western Sydney Infrastructure Plan, highlighting the Australian government's investment in infrastructure. The project selection methods discussed include the benefits measurement method, economic models, payback period, Net Present Value (NPV), and Internal Rate of Return (IRR). The NPV was considered and a preference given to the greater value of the NPV when selecting the project. The assignment emphasizes the importance of leadership skills in motivating and driving teams to achieve project goals. References to relevant literature are also provided.

Running head: PROJECT MANAGEMENT UNDER GLOBAL SCENARIO
Project management under global scenario
(Western Sydney Infrastructure Plan)
Name of the student:
Name of the university:
Author Note

1PROJECT MANAGEMENT UNDER GLOBAL SCENARIO
Discussion on the personal traits essential for the project managers under the
context of global project management:
To be a successful project manager, various personal traits are needed to be acquired. He
should be able to clearly demonstrate the goals and feedbacks, expectations, responsibilities and
tasks of every member. Then, he must possess smart technical expertise. Project management tools
and software are important to accomplish project goals. Hence, the project managers require to have
sound technical knowledge for analyzing concerns related to technical aspects. Further, he must
inspire a shared vision. He is expected to articulate the vision of team members very smartly.
Moreover, he must have good skills in negotiations (Muller & Turner, 2017). Besides, one of the
significant qualities required for efficient project management is negotiation capabilities. Apart from
this, he must be empathetic. Caring and understanding the teammates and also being grateful
towards them is one of the significant characteristics of a project manager. This also involves the
understanding of different necessities of the project and various stakeholders. Again, the next trait
crucial for him is competence. Since any efficient manager can be aware of what he has been
performing, he can initiate new projects and also witness concerns coming to them. Above all, he
must be a good decision-maker. These are required as there always the decisions that are required to
be performed (Meng & Boyd, 2017). Besides, there must be efficient leadership skills. This must be
acquired to such extent that he can motivate the team and then drive them for the ultimate
performance such that they can gain the aims successfully.
To understand the various methods used appropriately for project selection and processes, the
project of Western Sydney Infrastructure Plan is considered here. It is seen that the government of
Australia has been delivering on the plan. This is to create a more prosperous and stronger city. It
was done through investing about 3 billion dollars for a ten years project on the important

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infrastructure updated, transforming the economy of the area (Legacy, Curtis & Scheurer, 2017).
Firstly, the benefits measurement method must be applied to the current values of the inflow and
cash outflow. Then, the economic model has been deployed. Economic Value Added denotes the
performance metric calculating the worth-creation and defining the return on capital on the other
hand. Next, there is a payback period. It is the ration of the overall cash to the average for per period
cash. This is a primary project selection method considering the payback period for any investment.
Moreover, the Net Present value was considered in the Infrastructure Plan in Sydney. It is intended
to be positive. While the project was selected, the greater value of the NPV has been given
preference (Kivilä, Martinsuo & Vuorinen, 2017). Then, there is the Internal Rate of Return that was
considered. It is the rate of interest where the NPV has been zero. It is attained as the current value
of the outflow has been same as the current inflow value.

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References:
Kivilä, J., Martinsuo, M., & Vuorinen, L. (2017). Sustainable project management through project
control in infrastructure projects. International Journal of Project Management, 35(6), 1167-
1183.
Legacy, C., Curtis, C., & Scheurer, J. (2017). Planning transport infrastructure: examining the
politics of transport planning in Melbourne, Sydney and Perth. Urban Policy and research,
35(1), 44-60.
Meng, X., & Boyd, P. (2017). The role of the project manager in relationship management.
International Journal of Project Management, 35(5), 717-728.
Muller, R., & Turner, J. R. (2017). Project-oriented leadership. Routledge.

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