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Building on Assessment 1, you are a project manager on a major project, and are now required to prepare the relevant documentation for the project budget, schedule and resources.  Base your responses on current recommended practice, as described in contemporary literature and personal research into the industry of the Case Study.  The focus is to be on the selection and application of appropriate theory, tools and techniques not how accurate your budget, schedule and resourcing are.

Read your project case study carefully. As you work through these three tasks, identify any areas where you do not yet have sufficient information, and may need to ask further questions from your project sponsor.

1.Develop an appropriate budget for the Case Study project.  Include details of all assumptions you have made in preparing this budget.
2.Prepare a schedule for the Case Study project, identifying the key milestones for the project deliverables.  Discuss the relative merits of the methods, tools and techniques used and compare these with any that you chose not to use.
3.Finally, estimate the resources required for successful completion of the Case Study project.  Integrate this with the schedule and identify potential resourcing stress points for the "critical path" that will need careful management.  Identify tools and techniques that might be used here.
A report format is acceptable, but must include explanation of the approaches used throughout the project life-cycle. Diagrams, charts, tables and illustrations may be used to communicate or describe an approach.  These should be supported by a written discussion and not relied upon to tell the story themselves.

Project Budget

The estimated project budget as per the deliverables is shown in the following table.

Task Name

Cost

Upgradation of Oil Storage Facility

$5,163,800.00 [TOTAL BUDGET]

   Project Initiation Stage

$266,400.00

      Survey of the Site

$51,000.00

      Identification of the Issues and Problems

$17,000.00

      Call Team Meeting

$4,000.00

      Discuss the Issues

$48,000.00

      Find Possible Solutions

$19,200.00

      Discuss Project Feasibility

$19,200.00

      Prepare Initial Budget Estimate

$38,400.00

      Make Assumptions Regarding Project

$38,400.00

      Determine Project Constraints

$19,200.00

      Review Proposed Plan

$4,000.00

      Approve Project

$8,000.00

   Project Planning Stage

$144,600.00

      Develop Business Case

$48,000.00

      Develop a Detailed Project Charter

$14,000.00

      Determine Project Scope

$14,000.00

      Develop Project Objectives

$5,600.00

      Prepare Project Work Breakdown Structure

$2,800.00

      Develop Gantt Chart

$1,400.00

      Estimate Project Schedule

$1,400.00

      Estimate Project Budget

$1,400.00

      Appoint Roles to Stakeholders

$8,000.00

      Release Tenders for Contract

$10,000.00

      Hire Contractors based on Lowest Bid

$4,000.00

      Contact Sponsor

$9,600.00

      Procure Project Budget

$9,600.00

      Provide Project Plan to the Contractor

$2,800.00

      Initiate Project

$12,000.00

   Project Execution Stage

$4,594,000.00

      Works on Tank 1

$1,358,000.00

         Relocation of Attached Structures and Equipments

$120,000.00

         Install Scaffolding

$21,000.00

         Install Cranes

$46,000.00

         Start Repair Work

$21,000.00

         Add Steel Patches

$400,000.00

         Add Steel Anchors

$500,000.00

         Cleaning of Tank

$85,000.00

         Repaint of the Tank

$85,000.00

         Remove Cranes

$40,000.00

         Remove Scaffolds

$40,000.00

      Works on Tank 2

$1,548,000.00

         Relocation of Attached Structures and Equipments

$120,000.00

         Install Scaffolding

$21,000.00

         Install Cranes

$46,000.00

         Start Repair Work

$21,000.00

         Add Steel Patches

$590,000.00

         Add Steel Anchors

$500,000.00

         Cleaning of Tank

$85,000.00

         Repaint of the Tank

$85,000.00

         Remove Cranes

$40,000.00

         Remove Scaffolds

$40,000.00

      Works on Tank 3

$1,688,000.00

         Relocation of Attached Structures and Equipments

$120,000.00

         Install Scaffolding

$21,000.00

         Install Cranes

$46,000.00

         Start Repair Work

$21,000.00

         Add Steel Patches

$540,000.00

         Add Steel Anchors

$540,000.00

         Replace Main Supply Valve

$150,000.00

         Cleaning of Tank

$85,000.00

         Repaint of the Tank

$85,000.00

         Remove Cranes

$40,000.00

         Remove Scaffolds

$40,000.00

   Project Closing Stage

$158,800.00

      Project Handover

$4,000.00

      Review of the Entire Project

$72,000.00

      Project Documentation

$14,000.00

      Clearing of Payments and Dues

$48,000.00

      Stakeholder Signoff

$16,800.00

      Project Closing

$4,000.00

While preparing this budget, the assumptions that have been made are as follows (Kerzner and Kerzner 2017).

  • The material costs are one time payments and the values of the prices will not change within a very short time.
  • The budget costs for the human resources have been calculated as per hours of work per day.
  • The budget has been prepared without contingency budget that will be added additionally to the budget.

An estimated schedule for the case study project is shown in the following table.

Task Name

Duration

Start

Finish

Upgradation of Oil Storage Facility

283 days

Mon 07-05-18

Wed 05-06-19

   Project Initiation Stage

47 days

Mon 07-05-18

Tue 10-07-18

      Survey of the Site

15 days

Mon 07-05-18

Fri 25-05-18

      Identification of the Issues and Problems

5 days

Mon 28-05-18

Fri 01-06-18

      Call Team Meeting

2 days

Mon 04-06-18

Tue 05-06-18

      Discuss the Issues

5 days

Wed 06-06-18

Tue 12-06-18

      Find Possible Solutions

2 days

Wed 13-06-18

Thu 14-06-18

      Discuss Project Feasibility

2 days

Fri 15-06-18

Mon 18-06-18

      Prepare Initial Budget Estimate

4 days

Tue 19-06-18

Fri 22-06-18

      Make Assumptions Regarding Project

4 days

Mon 25-06-18

Thu 28-06-18

      Determine Project Constraints

2 days

Fri 29-06-18

Mon 02-07-18

      Review Proposed Plan

2 days

Tue 03-07-18

Wed 04-07-18

      Approve Project

4 days

Thu 05-07-18

Tue 10-07-18

   Project Planning Stage

66 days

Wed 11-07-18

Wed 10-10-18

      Develop Business Case

10 days

Wed 11-07-18

Tue 24-07-18

      Develop a Detailed Project Charter

10 days

Wed 25-07-18

Tue 07-08-18

      Determine Project Scope

5 days

Wed 08-08-18

Tue 14-08-18

      Develop Project Objectives

4 days

Wed 15-08-18

Mon 20-08-18

      Prepare Project Work Breakdown Structure

2 days

Tue 21-08-18

Wed 22-08-18

      Develop Gantt Chart

1 day

Thu 23-08-18

Thu 23-08-18

      Estimate Project Schedule

1 day

Fri 24-08-18

Fri 24-08-18

      Estimate Project Budget

1 day

Mon 27-08-18

Mon 27-08-18

      Appoint Roles to Stakeholders

4 days

Tue 28-08-18

Fri 31-08-18

      Release Tenders for Contract

5 days

Mon 03-09-18

Fri 07-09-18

      Hire Contractors based on Lowest Bid

2 days

Mon 10-09-18

Tue 11-09-18

      Contact Sponsor

2 days

Wed 12-09-18

Thu 13-09-18

      Procure Project Budget

2 days

Fri 14-09-18

Mon 17-09-18

      Provide Project Plan to the Contractor

2 days

Tue 18-09-18

Wed 19-09-18

      Initiate Project

15 days

Thu 20-09-18

Wed 10-10-18

   Project Execution Stage

126 days

Thu 11-10-18

Thu 04-04-19

      Works on Tank 1

101 days

Thu 11-10-18

Thu 28-02-19

         Relocation of Attached Structures and Equipments

15 days

Thu 11-10-18

Wed 31-10-18

         Install Scaffolding

2 days

Thu 01-11-18

Fri 02-11-18

         Install Cranes

2 days

Mon 05-11-18

Tue 06-11-18

         Start Repair Work

2 days

Wed 07-11-18

Thu 08-11-18

         Add Steel Patches

25 days

Fri 09-11-18

Thu 13-12-18

         Add Steel Anchors

25 days

Fri 14-12-18

Thu 17-01-19

         Cleaning of Tank

10 days

Fri 18-01-19

Thu 31-01-19

         Repaint of the Tank

10 days

Fri 01-02-19

Thu 14-02-19

         Remove Cranes

5 days

Fri 15-02-19

Thu 21-02-19

         Remove Scaffolds

5 days

Fri 22-02-19

Thu 28-02-19

      Works on Tank 2

106 days

Thu 11-10-18

Thu 07-03-19

         Relocation of Attached Structures and Equipments

15 days

Thu 11-10-18

Wed 31-10-18

         Install Scaffolding

2 days

Thu 01-11-18

Fri 02-11-18

         Install Cranes

2 days

Mon 05-11-18

Tue 06-11-18

         Start Repair Work

2 days

Wed 07-11-18

Thu 08-11-18

         Add Steel Patches

30 days

Fri 09-11-18

Thu 20-12-18

         Add Steel Anchors

25 days

Fri 21-12-18

Thu 24-01-19

         Cleaning of Tank

10 days

Fri 25-01-19

Thu 07-02-19

         Repaint of the Tank

10 days

Fri 08-02-19

Thu 21-02-19

         Remove Cranes

5 days

Fri 22-02-19

Thu 28-02-19

         Remove Scaffolds

5 days

Fri 01-03-19

Thu 07-03-19

      Works on Tank 3

126 days

Thu 11-10-18

Thu 04-04-19

         Relocation of Attached Structures and Equipments

15 days

Thu 11-10-18

Wed 31-10-18

         Install Scaffolding

2 days

Thu 01-11-18

Fri 02-11-18

         Install Cranes

2 days

Mon 05-11-18

Tue 06-11-18

         Start Repair Work

2 days

Wed 07-11-18

Thu 08-11-18

         Add Steel Patches

30 days

Fri 09-11-18

Thu 20-12-18

         Add Steel Anchors

30 days

Fri 21-12-18

Thu 31-01-19

         Replace Main Supply Valve

15 days

Fri 01-02-19

Thu 21-02-19

         Cleaning of Tank

10 days

Fri 22-02-19

Thu 07-03-19

         Repaint of the Tank

10 days

Fri 08-03-19

Thu 21-03-19

         Remove Cranes

5 days

Fri 22-03-19

Thu 28-03-19

         Remove Scaffolds

5 days

Fri 29-03-19

Thu 04-04-19

   Project Closing Stage

44 days

Fri 05-04-19

Wed 05-06-19

      Project Handover

5 days

Fri 05-04-19

Thu 11-04-19

      Review of the Entire Project

15 days

Fri 12-04-19

Thu 02-05-19

      Project Documentation

10 days

Fri 03-05-19

Thu 16-05-19

      Clearing of Payments and Dues

10 days

Fri 17-05-19

Thu 30-05-19

      Stakeholder Signoff

2 days

Fri 31-05-19

Mon 03-06-19

      Project Closing

2 days

Tue 04-06-19

Wed 05-06-19

The tool used for preparation of this schedule is the Microsoft Project software and its Gantt chart feature that automatically calculates estimated time period of project once relevant parameters are entered in the same. This can also be done other project management tools like Microsoft Excel but it needs to be done manually and hence, it is much more inaccurate and not suitable for high scale projects like this (Schwalbe 2015). Again, other tools like Jira are also available but they are expensive and licensing is required to use such tools. On the other hand, Microsoft Project does not require such complications.

For the cost estimation in the previous part, bottom up estimation method is applied which is also aided by Microsoft Project and it is provides much accurate results.

The project resources used are shown in the following table.

Resource Name

Type

Max. Units

Std. Rate

Ovt. Rate

Project Manager

Work

100%

$250.00/hr

$0.00/hr

Revenue Division

Work

100%

$600.00/hr

$0.00/hr

HSE Manager

Work

100%

$175.00/hr

$0.00/hr

Terminal Manager

Work

100%

$175.00/hr

$0.00/hr

Contractor

Work

100%

$100.00/hr

$0.00/hr

Repair Workers

Work

100%

$1,000.00/hr

$0.00/hr

Steel Patches

Material

$50,000.00

Steel Anchors

Material

$75,000.00

Supply Valve

Material

$30,000.00

Cranes

Material

$15,000.00

Scaffolding

Material

$5,000.00

Repair Tools

Material

$5,000.00

Paints

Material

$5,000.00

The allocation of resources in the project deliverables is shown in the following table.

Task Name

Resource Names

Upgradation of Oil Storage Facility

   Project Initiation Stage

      Survey of the Site

HSE Manager, Project Manager

      Identification of the Issues and Problems

HSE Manager, Project Manager

      Call Team Meeting

Project Manager

      Discuss the Issues

HSE Manager, Project Manager, Revenue Division, Terminal Manager

      Find Possible Solutions

HSE Manager, Project Manager, Revenue Division, Terminal Manager

      Discuss Project Feasibility

HSE Manager, Project Manager, Revenue Division, Terminal Manager

      Prepare Initial Budget Estimate

HSE Manager, Project Manager, Revenue Division, Terminal Manager

      Make Assumptions Regarding Project

HSE Manager, Project Manager, Revenue Division, Terminal Manager

      Determine Project Constraints

HSE Manager, Project Manager, Revenue Division, Terminal Manager

      Review Proposed Plan

Project Manager

      Approve Project

Project Manager

   Project Planning Stage

      Develop Business Case

Revenue Division

      Develop a Detailed Project Charter

Terminal Manager

      Determine Project Scope

HSE Manager, Terminal Manager

      Develop Project Objectives

Terminal Manager

      Prepare Project Work Breakdown Structure

Terminal Manager

      Develop Gantt Chart

Terminal Manager

      Estimate Project Schedule

Terminal Manager

      Estimate Project Budget

Terminal Manager

      Appoint Roles to Stakeholders

Project Manager

      Release Tenders for Contract

Project Manager

      Hire Contractors based on Lowest Bid

Project Manager

      Contact Sponsor

Revenue Division

      Procure Project Budget

Revenue Division

      Provide Project Plan to the Contractor

Terminal Manager

      Initiate Project

Contractor

   Project Execution Stage

      Works on Tank 1

         Relocation of Attached Structures and Equipments

Repair Workers

         Install Scaffolding

Repair Workers, Scaffolding[1]

         Install Cranes

Cranes[2], Repair Workers

         Start Repair Work

Repair Tools[1], Repair Workers

         Add Steel Patches

Repair Workers, Steel Patches[4]

         Add Steel Anchors

Repair Workers, Steel Anchors[4]

         Cleaning of Tank

Repair Tools[1], Repair Workers

         Repaint of the Tank

Paints[1], Repair Workers

         Remove Cranes

Repair Workers

         Remove Scaffolds

Repair Workers

      Works on Tank 2

         Relocation of Attached Structures and Equipments

Repair Workers

         Install Scaffolding

Repair Workers, Scaffolding[1]

         Install Cranes

Cranes[2], Repair Workers

         Start Repair Work

Repair Tools[1], Repair Workers

         Add Steel Patches

Repair Workers, Steel Patches[7]

         Add Steel Anchors

Repair Workers, Steel Anchors[4]

         Cleaning of Tank

Repair Tools[1], Repair Workers

         Repaint of the Tank

Paints[1], Repair Workers

         Remove Cranes

Repair Workers

         Remove Scaffolds

Repair Workers

      Works on Tank 3

         Relocation of Attached Structures and Equipments

Repair Workers

         Install Scaffolding

Repair Workers, Scaffolding[1]

         Install Cranes

Cranes[2], Repair Workers

         Start Repair Work

Repair Tools[1], Repair Workers

         Add Steel Patches

Repair Workers, Steel Patches[6]

         Add Steel Anchors

Repair Workers, Steel Anchors[4]

         Replace Main Supply Valve

Repair Workers, Supply Valve[1]

         Cleaning of Tank

Repair Tools[1], Repair Workers

         Repaint of the Tank

Paints[1], Repair Workers

         Remove Cranes

Repair Workers

         Remove Scaffolds

Repair Workers

   Project Closing Stage

      Project Handover

Contractor

      Review of the Entire Project

Project Manager, Terminal Manager, HSE Manager

      Project Documentation

Terminal Manager

      Clearing of Payments and Dues

Revenue Division

      Stakeholder Signoff

Contractor, HSE Manager, Revenue Division, Terminal Manager

      Project Closing

Project Manager

Again, the critical path for the project is shown in the following diagram.

In the diagram, the critical path of the project is shown using a Gantt chart. The project path marked in red colour is the critical path and it is determined using the Gantt chart tool of Microsoft Project. Furthermore, the network diagram tool can also be utilized to develop the critical path for the project (Fleming and Koppelman 2016). Again, the stressful points in the project are those that have red colored man figure at the left of each deliverable.

References

Binder, J., 2016. Global project management: communication, collaboration and management across borders. Routledge.

Boud, D., Cohen, R. and Sampson, J. eds., 2014. Peer learning in higher education: Learning from and with each other. Routledge.

Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.

Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach. Routledge.

Heagney, J., 2016. Fundamentals of project management. AMACOM Div American Mgmt Assn.

Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley & Sons.

Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Lock, D., 2017. The essentials of project management. Routledge.

Martinelli, R.J. and Milosevic, D.Z., 2016. Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.

Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), pp.202-217.

Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology. Taylor & Francis.

Schwalbe, K., 2015. Information technology project management. Cengage Learning.

Snyder, C.S., 2014. A guide to the project management body of knowledge: PMBOK (®) guide. Project Management Institute: Newtown Square, PA, USA.

Turner, R., 2016. Gower handbook of project management. Routledge.

Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.

Walker, A., 2015. Project management in construction. John Wiley & Sons.

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