Project Management Analysis: Building of a Super Sailing Yacht Report

This report provides a comprehensive analysis of the project management involved in building a 104-foot super sailing yacht. It begins with an overview of the project's purpose, objectives, and strategic alignment within the Australian Marine Charter industry. The main body critically evaluates project schedule management, including constraints, roles, work breakdown structures, and time management plans, as well as cost management plans, project cost baselines and project performance monitoring, including risk management strategies. The report then offers two key recommendations, one for each topic area, justified by the analysis and tailored to the project's context, emphasizing the importance of detailed work plans, effective communication, and continuous monitoring. The analysis includes a detailed breakdown of project phases, risk identification, and response strategies, concluding with insights aimed at improving project outcomes.

Project Management Analysis
of the Building of Super Sailing
Yacht

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
A brief overview:.........................................................................................................................4
Project schedule management..........................................................................................................5
Project performance monitoring..................................................................................................7
Recommendations......................................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Project management is process of managing and leading specific project in which team
remain under supervision of project manager, the management of every project require strategic
planning and inclusion of key procedure. This process involves utilizing company’s resource to
gain max. benefit, effective management of project help company to grow (Levy, 2018). This
report is based on building of a 104 feet (31.7 metres) Super Yacht that as a wooden Hull, and
will provide brief overview of project aims, objectives, strategic alignment and other useful
information. Later this report will critically analyse and evaluate project management scheduling
and performance monitoring process. At last, recommendation will be provided for the same.
MAIN BODY
A brief overview:
Building a super luxury 104 feet (31.7 metres) Yacht for commercial purpose of sailing
in Australian coastline and nearby seas, this yacht is built to enter Australian Marine Charter
industry with the aim of commercial earning, within allocated budget and cost management,
completion of this yacth depend on project management planning, there are several element
denoting brief overview of the project, these are:
Project purpose:
 The purpose of this project is to build luxury super yacht and introduce this yacht in
Australian Marine Charter industry to gain maximum earning from commercial purpose.
 The budget estimated for the completion of this project is Australian $2 Million with
additional budgeting and financial help of Australian $500,000 ensuring project is
completed before deadline.
 The major purpose of this project is to introduce modern yacht with traditional overlook
including bugi boatbuilders and Indonesian Phinisi boat.
Aim and objectives:
Aim behind this project is “To introduce 104 feet (31.7 metres) long super luxury yacht
in the Australian water for commercial purpose and gain competitive advantage in Australian
Marine Charter industry”
Objectives:
 The project will be completed in two stages in which stage 1 will be completed april 2022
and project for stage 2 will be continued further.

 Implementation and delivery of Stage 2 from Phinisi Boatbuilder within provided time
frame from 3 October 2022 to April 2023.
 Inclusion of key resource including superstructure, internal walls, shaft, gensets, engine,
drive controllers and fuel tanks allow super yacht to be completed within provided time.
Project priorities:
 Time is one of the major project priority.
 Cost is another major priority.
 Scope is priority need to be considered.
Project schedule management
Constrains
It is general that for finishing project there always some barriers which can also be seen like as
follows:
Budget:
The Financial resource always act an important role, as without correct budgeting action of
particular project is generally not conceivable, it also restricts to invest that affects whole
process. Thus, it is also essential to get with proper budgeting (Eyibio, and Daniel, 2020).
Knowledge and skills:
It is very important that project group essential have effective or even relevant skills as well as
knowledge if not, then it will also basis hindrance in project deliverables.
Time limitation:
The most important aspect is accomplished the project particular on time, hence it is very
significant to begin with effective or proper approach that is to assign the task to complete
project on time (Suresh, and Sivakumar 2019).
Roles and responsibility
Project manager:
The team select, generally to allocate work between the team, and also lead project.
Investors:
They play an important role generally in making the designs and also they make investment in
this project.
Staff:
Their responsibility is followed the instruction of the managers.

Project work breakdown structure.
It is project management tools that are generally taken step by step generally approach to
complete the large project along with some moving pieces. The main purpose of the work
breakdown structure is to plan an effective schedule for a particular project (Burghate 2018).
Time management plan
Task Mode Task Name Duration Start Finish
Auto
Scheduled Post Covid situation 80 days? Mon 2/14/22 Fri 6/3/22
Auto
Scheduled Project intiation 20 days Mon 2/14/22 Fri 3/11/22
Auto
Scheduled
Aims & objectives of
project 5 days Mon 2/14/22 Fri 2/18/22
Auto
Scheduled
Key roles and
responsibility 10 days Mon 2/21/22 Fri 3/4/22
Auto
Scheduled ROI/KPI 5 days Mon 3/7/22 Fri 3/11/22
Auto
Scheduled Project planning 40 days Mon 3/14/22 Fri 5/6/22
Auto
Scheduled Budget planning 20 days Mon 3/14/22 Fri 4/8/22
Auto
Scheduled Assessment of risk 10 days Mon 4/11/22 Fri 4/22/22
Auto
Scheduled
Break down of
constructionwork 10 days Mon 4/25/22 Fri 5/6/22
Auto
Scheduled Project execution 20 days Mon 5/9/22 Fri 6/3/22
Auto
Scheduled People management 10 days Mon 5/9/22 Fri 5/20/22
Auto
Scheduled
Maintaining
communication 5 days Mon 5/23/22 Fri 5/27/22
Auto
Scheduled Delivery protocol 5 days Mon 5/30/22 Fri 6/3/22
Auto
Scheduled Project monitoring 35 days? Mon 2/14/22 Fri 4/1/22
Auto
Scheduled Evaluation plan 15 days Mon 2/14/22 Fri 3/4/22
Auto
Scheduled Railway checking 15 days Mon 3/7/22 Fri 3/25/22
Manually Quality measure

Scheduled
Auto
Scheduled Quality checking 5 days Mon 3/28/22 Fri 4/1/22
Auto
Scheduled Project closor 20 days Mon 4/4/22 Fri 4/29/22
Auto
Scheduled KPI measure 10 days Mon 4/4/22 Fri 4/15/22
Auto
Scheduled Feedback 10 days Mon 4/18/22 Fri 4/29/22

Cost management plan
The Cost management plan is a paper or document that generally help people to map and
also control a budget. The main purpose of the cost management are resources, cost
control, cost estimation and cost budget. Therefore, budget always plays an vital role
mainly to lay out particular project in a given time or with efficiency, and cost breakdown
structure which generally represent cost for each and every activity.
Resources Cost
Equipment £1500
Raw materials £2000
Staff salary £1000

wood £800
Shipping and freight cost £700
Total £6,000
This project will be completed in the following phases of the project management, it also helpful
for the project management generally to select team properly so that the main objective of the
project can be accomplished. Particularly for fund-raising of project is broken in a various part,
and cost budgetary that generally situations that specific process need or required to be done
particularly in recommended budget as well as time. By change of integrity, here cost will also
help in fast delivery of the project. As for early stage it generally protections of the resource
identification, and which also takes time as well as money then that project recruits with
effective and proper or effective strategies. So in this particular stage project manager determine
the stakeholders along with this they try to influence them with the creative or new ideas so that
the stakeholders will become ready to invest in particular project, so that why this process takes
time as well as investment.
Project cost baseline
Equipment COST Raw materials COST
Machinery £400 Other minerals £500
HVAC sensor £300 Equipment £500
Technological
tools
£800 Soft furnishing £1000
Total £1500 Total £2000
Project cost baseline is refers as budget that has already approved for particular event or
project, with this project manager is capable to buy the resources consequently. Hence, above the
tables generally estimate that for particular project of institute, these are the recognised resources
which is need or required in order to complete the event (Susilowati, and et.al., 2021).
Project performance monitoring.
Risk management plan
A risk management plan is generally define how the project risk management process that will
be executed. It also includes the funds, approaches and tools that will generally be used to

perform the assessment, risk identification, monitoring and mitigation activities. It is very
important to determine risk of topic as well as project by which it can also be usually easy for the
project team to make or create a good solution for many risk and also a solution for such risk
which is not yet known but also take some measures to proper or correct them accurately (Huang
2021).
Risk Identification Response Monitoring as
well as Control
Risk in
such
Event
Reasons Result Probabilit
y
Action Responsible
Lack of
resources
In particular
project
management
of building,
the
inadequate
as well as
lack of
proper
knowledge
of aim as
well as
objectives
that can also
create a big
risk in
particular
event.
Failure of
the event
4 This type of risk
general be
determined by
simply giving the
clear knowledge
particularly to the
staff as well as
volunteers mainly
nearby the event
from which they
can also be
capable to make
an accurate
information.
Here project
manager and staff
are generally
responsible
particularly for
risk occurrence.

Operation
al risk
Inappropriat
e
management
of particular
event can
also result to
bond the
event of
building
and can also
become a
risk for
specific
project. If
the fund are
not raised
then it will
give
negative
impact on
whole
activity.
3 The appropriate
action as well as
plan that can also
be made
generally through
human resource
individuals
particular from
which they can
also get task easy
to complete of
building
successfully
Human Resource
Department
Inappropr
iate time
managem
ent
This type of
the risk can
also give
result of the
delay of
project and
can also
make a risk
of failure of
Delay in
managin
g
building.
4 Staff as well as
labours can make
a effective time
schedule
particular for
their each and
every activity as
well as work that
can also take
Volunteers

all essential
resources or
ineffective
use of
particular
resources
before such
deadline of
specific
event which
can also
become a
high risk.
proper time
particular to be
succeeded by
them and can
result effectively
and not they are
able to delay the
building of 104
feet 37.7 Metre
super sailing
Yacht.
Poor
leadership
r
A poor
leadership
can also
cause or
create
problems in
entire
project to be
failed
Failure of
event
4 A leader should
communicate and
provide
information in
effective manner
and in proper
manner to their
staff members as
well as requires
to take reviews or
feedback from
them that can
also make the
staff or people to
follow
knowledge as
well as
Project Leader

information
accurately so the
it give result
effectively
(Achukwu
2021).
Recommendations
Creating a detailed work plan generally create good impact on project. Having a proper
work plan is very critical to success of the projects. Therefore, full work plan gives as a initial
point for the all workers or team members as it particularly tells who is believed to do what as
well as that also help project members particular to checked off project tasks and also match the
deadlines. If there is proper work plan then all the activities are done in effective as well as
proper manner. Even it also helps leaders to know what to do and how to do activities to achieve
their target. As there is particularly no such hard or fast manner to make a particular work plan.
But it must include the important information, budget, deadlines, job roles as well as
responsibilities and many more. Even the team members are also required to communicate
effectively. Communication is the key of success of each and every project. If there is good
communication between the team members and also with managers then it will give positive
impact on the project (Gamage 2022). As good communication is normally best project
management practices, it is due to miscommunication can lead to delay in the project deadlines
as well as future increase the chances of failed. So with many tasks as well as other way to take
care of in particular, it is also likely to lose the track of one thinks or even another. Monitor is
very important such as risk monitoring, performance monitor and many more. By this the
managers can easily track their performance, so they will analysis if there is need of some
changes, and then they will do it. The effective project managers realized that important of the
continual tracking as well as monitoring complete project progress. So that why the most of them
generally have devoted project management software system particularly that provide them