Project budget & schedule with resource docs prep.

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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