Get Instant Help From 5000+ Experts For
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

And Improve Your Grades
myassignmenthelp.com
loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!
Free Quote
wave

You are expected to prepare the project proposal for a project of sufficient complexity and value that you are familiar with to highlight the costing approach and appraisal of the project.

Your proposal should include: 

1. A clear description of the project including the project charter with the project objectives

2. A clear presentation of the scope of the project including the work breakdown structure (WBS) of sufficient detail

3. A clear schedule for the project of sufficient detail to highlight the main milestones, the critical path, schedule constraints etc. of the project.

4. A clear costing for the project highlighting the approaches used in estimating the cost of the various components of the project.

5. A clear budget for the project highlighting the contingencies applied and their reasons

6. A clear appraisal of the project highlighting the justification for the project. The appraisal should include some numeric models and should clearly highlight why the project should be accepted. The acceptance criteria chosen should also be demonstrated to be realistic and reasonable for the project and organization concerned.

7. In the above appraisal, the student should show that the risk to the costing estimates as well as any income stream (if any) have been taken into account and the project remains viable based on the probability of the risk assessed. 

Project Charter

Project Title: Replacement of existing bridge

Project Sponsor: Gail Stephens                              

Date Prepared: August 31, 2017

Project Manager: Mike Lai             

Project Customer: Malaysian City Council

The focus of this project is on an extension which is most established existing intersection of the Hawkesbury River. The bridge was initially worked with a timber deck on cast press wharfs in 1875. Throughout the years the bridge has experienced numerous adjustments including raising the extension by 2.4 meters and including a dock in 1897. The timber deck, projection and a similar dock were supplanted by strengthened cement in 1920 and a trail was included the downstream side in 1968. The bridge is 143 meters in length and 6.1 meters wide. It conveys a normal of 18,000 vehicles for every day. While the structure of the current Bridge is as yet viewed as safe for general movement, parts of the current bridge are presently 137 years of age. A few examinations have been carried on state of the current bridge and the choices to restore or supplant the extension. Henceforth, this task has been attempted after distinguishing proof that the favored alternative is for substitution of the Bridge. The favored alternative is an abnormal state connect, 35 meters downstream of the current bridge. 

This project is aimed at replacing an existing bridge so as to ensure safety and infrastructure development. This report gives a synopsis of the issues brought up in composed entries, workshops, online gathering remarks and exchanges amid this period. A sum of 72 entries were gotten between August 2011 and September 2011. Issues raised will be considered amid readiness of the ecological effect articulation and the idea outline. While this report does not react in detail to each issue raised, it includes data on how certain issues will be tended to amid arrangement of the natural effect articulation and improvement of the idea plan. 

The point of the project is to give a sheltered and solid intersection of the River.

Targets of the project are to:

  • Improve security for drivers, walkers and cyclists.
  • Improve movement and transport proficiency.
  • Improve the level of surge insusceptibility.
  • Meet long term group needs.
  • Minimize the effect on legacy and the character of the neighborhood.
  • Be a financially savvy and a moderate result.

The risks and concerns that have been identified in context to this project are listed as below:

  • Potential effects on the legacy and character of the neighborhood.
  • Nearby people group needs, for example, person on foot and cyclist associations and recreational spaces.
  • Expanded commotion and contamination.
  • Potential loss of business in the town focus.
  • Activity and transport issues.
  • Wellbeing for drivers and walkers drawing closer and intersection the bridge.
  • The level of surge insurance that would be given.
  • The cost viability of the new bridge.

For this task, there are a few noteworthy risks that could conceivably significantly affect spending plan or potentially plan. Some can be straightforwardly controlled or impacted by the task group, while some are not and rely upon economic situations. Steel speaks to a noteworthy bit of the extension material and cost (roughly 40% of development cost) and is affected by advertise request. It will be imperative to utilize the alleviation systems illustrated beneath to help decrease chance.

  • Steel costs are influenced by worldwide financial drivers
  • Change in development economic situations
  • Competing projects draw assets and temporary worker intrigue far from this task
  • Actual site conditions shift fundamentally from anticipated
  • Significant delay in utility migrations

The estimated budget that has been decided for the project is $750,000.00, in which the estimation of construction cost is $$717,800.00. The Consultant might audit this Scope of Work and give an account assessment and investigation of the exactness of the proposed project CCE in their specialized proposition in light of their expert experience and conclusion. The estimate for working on the project is $695,400.00, however there are other costs associated with the project such as human resource, materials and etc.

Project Description

The funding summary for execution of this particular project is given as below:

$450,000.00 will be borrowed from the city council.

$125,000.00 will be provided from federal government agencies.

$75,000.00 will be acquired from Reserve city funds for capital projects.

The CWE incorporates the development cost gauge and all counseling, allowing and managerial expenses. The CWE is the Client Agency's budgetary spending plan in view of this task Scope of Work and might not be surpassed amid the outline and development periods of the undertaking unless DPMC supports the adjustment in Scope of Work through a Contract alteration. On projects with a CCE under $750,000, the gauge might be set up by the Consultant's in-house staff or their Sub-Consultant's staff amid each plan period of the undertaking. All cost gauges might be balanced for provincial area, site factors, development staging, premium time, building use gathering, area of work inside the building, transitory swing space, security issues, and swelling factors in view of the year in which the work is to be performed.

Stakeholder(s)

Role

Gail Stephens

City Manager

Peter Sparanese

Operations Manager

Katie Josephson

Director of Corporate Communications

Joe Helsinki

Finance Manager

Jocelyn Jenkins

City Solicitor

Katie Holmes

Special project director

Sasha Grey

Project Advisor

Staffing Decisions:

Staffing of super activities with regards to the general program is an intricate asset administration issue. In a general sense, staffing is focused on being a "solid proprietor" in overseeing conveyance mega projects. It is essential to use extend business (project positions are separate from other diminishment in-compel activities that might happen in the Department). This will help balance out WSDOT workforce needs on super tasks. These positions ought to be well thoroughly considered and incorporate an in advance, end-of-project progress technique for lasting representatives.

Under plan offer form conveyance, the Department has solely held duty regarding QC and QA amid development. For crests in workforce needs, WSDOT for the most part procures transitory representatives. These obligations should be possible by moving a portion of the QC or QA work and hazard to the contractual worker, like outline construct. WSDOT has effectively used GECs on remain solitary uber projects. In different states, GECs have been utilized to effectively convey statewide projects, for example, connect restoration, and substitution. This model might be material on future statewide WSDOT programs. For instance, if financing ends up plainly accessible to convey the fish entry course program, rather than including extra WSDOT staff a statewide premise, a GEC model could be used by packaging projects into one program conveyance contract. 

A task control spending will be created. Expenses will be observed and contrasted with genuine work finished preceding the City approving installment. Real expenses will be accounted for against a gauge utilizing a fitting project costing programming bundle. Evaluations at complete will be invigorated in conjunction with the timetable and pay measures. Dangers will be reassessed and potential impact will be used to study cost and schedule impacts. A probability support organization configuration will be set up. 

The blockage in peak hour causes southbound drivers achieving the circuitous to give path for long stretches, along these lines deferring the activity behind them. This is an issue because of the precarious slope on Bridge Street and can be especially unsafe for southbound overwhelming vehicles sitting for an expanded measure of time. Respondents communicated bolster for the indirect to be expelled at the convergence of George Street and Road as a major aspect of the proposed works and supplanted with activity lights. In any case, drivers can encounter restricted vision because of a peak in the street and this diminishes their capacity to respond rapidly at a red light. 

High-Level Requirements

Significant degree changes related to extend augmentation or spending will be avowed by Council that is changes to the things recorded under Scope. Changes that in a general sense adjust the request of this Charter will be displayed to Council for positive underwriting for example change to the desires recorded under augmentation. The Project Director will have expert to settle on choices basic to keeping up development energy.

The prime expert will be the Group to identity in charge of the general plan trustworthiness of the considerable number of Works to be embraced under this agreement. The prime legally binding laborer or backer, when chosen, will be accountable for consistence with the framework desire as set out in the reports masterminded by the MMM Group. The quality assertion program will pass on typical reports in the midst of creation and advancement in a shape agreed to by the City project gathering.

Project Title:                                                                   

 Date Prepared:

This project is aimed at replacing an existing bridge so as to ensure safety and infrastructure development. This report gives an outline of the issues brought up in composed entries, workshops, online gathering remarks and discourses amid this period. An aggregate of 72 entries were gotten between August 2011 and September 2011. Issues raised will be considered amid readiness of the natural effect articulation and the idea outline. While this report does not react in detail to each issue raised, it includes data on how certain issues will be tended to amid planning of the ecological effect proclamation and improvement of the idea outline. 

  • Improve security for drivers, walkers and cyclists.
  • Improve movement and transport proficiency.
  • Improve the level of surge invulnerability.
  • Meet long haul group needs.
  • Minimize the effect on legacy and the character of the neighborhood.
  • Be a financially savvy and a moderate result.
  • Potential impacts on the legacy and character of the neighborhood,
  • Local people group needs, for example, walker and cyclist associations and recreational spaces.
  • Increased demand and contamination.
  • Potential loss of business in the town focus.
  • Traffic and transport issues.
  • Safety for drivers and walkers drawing closer and intersection the extension.
  • The level of surge assurance that would be given.
  • The cost adequacy of the new bridge.

The work breakdown structure that has been prepared for the project are as below: 

Achievement is dependably a questionable subject. In the development business, time, cost and quality have for quite some time been characterized as the fundamental criteria of measuring achievement. Be that as it may, diverse thoughts have been developed in the most recent decade. Subsequently, an exhaustive audit of Key Performance Indicators is fundamental. Right off the bat, on the off chance that one needs to have remarkable execution, one must realize what the meaning of progress is with a specific end goal to make remedy measures to accomplish this objective. Without a general concession to progress, project directors still deal with their assets by their seeing instinct. They can't guarantee whether the instrument is right or not. The proposed structure can give a reasonable and unambiguous definition for project execution. It can likewise upgrade customers', temporary workers', and additionally creators' comprehension of running an effective undertaking and set a base for them to enhance the project execution. It is advantageous to extend directors by giving accommodating data that is vital for the accomplishment of an effective development project. Appraisal of likely project results can be determined amid development. 

The accompanying things are excluded in the development cost gauges:

  1. Unanticipated subsurface condition
  2. Stream adjustment
  3. Right?of?way obtaining including brief development easements
  4. Exactness of the study
  5. Area of existing utilities

The extension site is to a great extent situated over a current traversable conduit. There are constraints on the contractual workers' development exercises forced by existing and proposed arrive utilizes adjoining the arrangement, and in addition natural contemplations. Shoreline advancement is foreseen on the two banks of the stream, and could happen inside the expected bridge development time allotment. This improvement could have an effect on connect development by limiting contractual worker get to. There are restricted potential arranging zones straightforwardly neighboring the bridge site. The most encouraging existing region is accessible land that is claimed by the Port of River. At least 1 section of land would be important to encourage the temporary workers' stockpiling and organizing region. There is one route divert in the region of the proposed connect areas. Route should be kept up consistently amid development. This will compel the temporary workers' utilization of gear and superstructure (deck and support) erection procedures. Impermanent lighting will probably be required for hardware in the waterway. 

High-Level Risks

The undertaking must be of astounding development with materials that give solidness a valuable existence of 50 years or over.

The task's plan must be perfect structurally.

The undertaking must be worked to meet the development, fire codes and wellbeing models built up by the State, neighborhood and government offices.

The seepage must be open for simplicity of adjusting to encourage establishment of refreshed frameworks, and meet every pertinent code.

There will be a market interest for the private space.

The property estimation of the task will increment in any event as much as the rate of swelling.

Task development will empower the toughness of the bridge, as suitable, upon its consummation.

WBS

Task Name

Duration

Start

Finish

Predecessors

0

Bridge Replacement project

132 days

Thu 11-01-18

Fri 13-07-18

1

   Project Charter

64 days

Thu 11-01-18

Tue 10-04-18

1.1

      Project Requirements

10 days

Thu 11-01-18

Wed 24-01-18

1.1.1

         Requirements management plan

10 days

Thu 11-01-18

Wed 24-01-18

1.2

      Budget

12 days

Thu 25-01-18

Fri 09-02-18

1.2.1

         Cost performance baseline

5 days

Thu 25-01-18

Wed 31-01-18

3

1.2.2

         Cost management plan

7 days

Thu 01-02-18

Fri 09-02-18

5

1.3

      Schedule

7 days

Mon 12-02-18

Tue 20-02-18

1.3.1

         Schedule baseline

3 days

Mon 12-02-18

Wed 14-02-18

6

1.3.2

         Schedule management plan

4 days

Thu 15-02-18

Tue 20-02-18

8

1.4

      Resources

15 days

Wed 21-02-18

Tue 13-03-18

1.4.1

         Responsibility charts/assignments

5 days

Wed 21-02-18

Tue 27-02-18

9

1.4.2

         Human resource plan

6 days

Wed 28-02-18

Wed 07-03-18

11

1.4.3

         Communication management plan

4 days

Thu 08-03-18

Tue 13-03-18

12

1.5

      Scope

14 days

Wed 14-03-18

Mon 02-04-18

1.5.1

         Scope statement

5 days

Wed 14-03-18

Tue 20-03-18

13

1.5.2

         WBS

4 days

Wed 21-03-18

Mon 26-03-18

15

1.5.3

         Scope baseline

3 days

Tue 27-03-18

Thu 29-03-18

16

1.5.4

         Scope management plan

2 days

Fri 30-03-18

Mon 02-04-18

17

1.6

      Risk Assessment

6 days

Tue 03-04-18

Tue 10-04-18

1.6.1

         Risk management plan

6 days

Tue 03-04-18

Tue 10-04-18

18

2

   Project execution

52 days

Wed 11-04-18

Thu 21-06-18

2.1

      Implementation of essential control and maintenance plan

6 days

Wed 11-04-18

Wed 18-04-18

19

2.2

      Reporting progress information

5 days

Wed 11-04-18

Tue 17-04-18

20

2.3

      Corrective measures planning

8 days

Thu 19-04-18

Mon 30-04-18

22

2.4

      Development of project award timing

12 days

Wed 18-04-18

Thu 03-05-18

23

2.5

      Final measurement of material quality for the construction

6 days

Tue 01-05-18

Tue 08-05-18

24

2.6

      Contract for bridge painting

5 days

Fri 04-05-18

Thu 10-05-18

25

2.7

      Development of safety inspection for the labors

7 days

Wed 09-05-18

Thu 17-05-18

26

2.8

      Implementing a status report

6 days

Fri 11-05-18

Fri 18-05-18

27

2.9

      Bridge Working Drawings

7 days

Mon 21-05-18

Tue 29-05-18

2.9.1

         Bridge Working Drawings Requiring Design

4 days

Mon 21-05-18

Thu 24-05-18

29

2.9.2

         Bridge Working Drawings Not Requiring Design

3 days

Fri 25-05-18

Tue 29-05-18

31

2.10

      Road Working Drawings

5 days

Wed 30-05-18

Tue 05-06-18

2.10.1

         Road requiring design

3 days

Wed 30-05-18

Fri 01-06-18

32

2.10.2

         Road not requiring design

2 days

Mon 04-06-18

Tue 05-06-18

34

2.11

      Inspect the existing steel structure frameworks

2 days

Wed 06-06-18

Thu 07-06-18

35

2.12

      Designing of Bridge storm drains

10 days

Fri 08-06-18

Thu 21-06-18

36

3

   Other Management Plans & Reports

16 days

Fri 22-06-18

Fri 13-07-18

3.1

      Process improvement plan

3 days

Fri 22-06-18

Tue 26-06-18

37

3.2

      Quality management plan

4 days

Wed 27-06-18

Mon 02-07-18

39

3.3

      Procurement management plan

5 days

Tue 03-07-18

Mon 09-07-18

40

3.4

      Weekly progress reports

2 days

Tue 10-07-18

Wed 11-07-18

41

3.5

      Lessons learnt / Post-event summary report

2 days

Thu 12-07-18

Fri 13-07-18

42

M1

   Project Initiation Phase

0 days

Tue 10-04-18

Tue 10-04-18

1

M2

   Design Phase

0 days

Wed 24-01-18

Wed 24-01-18

3

M3

   Construction Phase

0 days

Mon 02-04-18

Mon 02-04-18

14

M4

   Completion Phase

0 days

Wed 14-02-18

Wed 14-02-18

8

The developed schedule as presented above reflects that it will require 132 days to accomplish the project. The project is expected to start on 11 January 2018 and finish on 13 July 2018 and the estimated cost is $$717,800.00.

WBS

Task Name

Duration

Cost

0

Bridge Replacement project

132 days

$717,800.00

1

   Project Charter

64 days

$425,000.00

1.1

      Project Requirements

10 days

$52,000.00

1.1.1

         Requirements management plan

10 days

$52,000.00

1.2

      Budget

12 days

$62,800.00

1.2.1

         Cost performance baseline

5 days

$32,000.00

1.2.2

         Cost management plan

7 days

$30,800.00

1.3

      Schedule

7 days

$21,000.00

1.3.1

         Schedule baseline

3 days

$9,000.00

1.3.2

         Schedule management plan

4 days

$12,000.00

1.4

      Resources

15 days

$68,600.00

1.4.1

         Responsibility charts/assignments

5 days

$27,000.00

1.4.2

         Human resource plan

6 days

$36,000.00

1.4.3

         Communication management plan

4 days

$5,600.00

1.5

      Scope

14 days

$43,000.00

1.5.1

         Scope statement

5 days

$27,000.00

1.5.2

         WBS

4 days

$4,000.00

1.5.3

         Scope baseline

3 days

$6,000.00

1.5.4

         Scope management plan

2 days

$6,000.00

1.6

      Risk Assessment

6 days

$24,000.00

1.6.1

         Risk management plan

6 days

$24,000.00

2

   Project execution

52 days

$260,000.00

2.1

      Implementation of essential control and maintenance plan

6 days

$15,600.00

2.2

      Reporting progress information

5 days

$42,000.00

2.3

      Corrective measures planning

8 days

$19,200.00

2.4

      Development of project award timing

12 days

$52,800.00

2.5

      Final measurement of material quality for the construction

6 days

$27,600.00

2.6

      Contract for bridge painting

5 days

$17,000.00

2.7

      Development of safety inspection for the labors

7 days

$18,200.00

2.8

      Implementing a status report

6 days

$18,000.00

2.9

      Bridge Working Drawings

7 days

$21,000.00

2.9.1

         Bridge Working Drawings Requiring Design

4 days

$12,000.00

2.9.2

         Bridge Working Drawings Not Requiring Design

3 days

$9,000.00

2.10

      Road Working Drawings

5 days

$9,000.00

2.10.1

         Road requiring design

3 days

$5,400.00

2.10.2

         Road not requiring design

2 days

$3,600.00

2.11

      Inspect the existing steel structure frameworks

2 days

$1,600.00

2.12

      Designing of Bridge storm drains

10 days

$18,000.00

3

   Other Management Plans & Reports

16 days

$32,800.00

3.1

      Process improvement plan

3 days

$3,600.00

3.2

      Quality management plan

4 days

$8,800.00

3.3

      Procurement management plan

5 days

$12,000.00

3.4

      Weekly progress reports

2 days

$6,400.00

3.5

      Lessons learnt / Post-event summary report

2 days

$2,000.00

M1

   Project Initiation Phase

0 days

$0.00

M2

   Design Phase

0 days

$0.00

M3

   Construction Phase

0 days

$0.00

M4

   Completion Phase

0 days

$0.00

The basic leadership in speculation projects is not troublesome when just monetary learning is utilized. Conventional money related hypothesis utilizes NPV, IRR and Payback period strategies in project choices. The risks in a task can likewise be broke down utilizing affectability examination and likelihood investigation. Nonetheless, income based investigation has a few confinements. Harris (2017), demonstrates that when learning about new future speculation is restricted, when operational condition estimates are powerless, or when projects are broke down with numerous impalpable and indeterminate elements which are hard to gauge, the vulnerability and risk increment, influencing the operational income figures. The reduced income rule habitually thinks little of project openings and does not consider any key and different factors, making nearsighted choices and potential aggressive misfortunes. Penning-Rowsell, Edmund, et al. (2014) refer that the choice can be considerably harder to take when different viewpoints are considered notwithstanding budgetary ones. With a specific end goal to take the best speculation choice, data is required about all ranges that can impact this choice. It is key to see how all non-money related angles can be utilized as a part of task evaluation, realizing that these could not be effortlessly measured in financial terms.

Project choice is done toward the start of an undertaking and it relies upon the last esteem being better than the aggregate speculation. Macharis, Cathy, and Annalia Bernardin (2015), refer that assessment strategies can be isolated into two gatherings. From one viewpoint, project execution is measured with bookkeeping information. Payback period and bookkeeping benefit rate are additionally considered in this gathering. Be that as it may, these assessment strategies are lacking a result of issues related with bookkeeping information. Then again, we need to consider trade stream criteria out project assessment. The project choice is taken in view of NPV and IRR. This second gathering of assessment criteria have a tendency to be more utilized than the criteria in view of bookkeeping information. In light of risk examination, we can acquire data about perspectives that influence projects. Ika, Lavagnon and Damian Hodgson (2014), consider that the utilization of likelihood investigation and reenactment examination methodologies can offer a more elevated amount of trust in ultimate conclusion. The risk investigation is, all the time, incorporated into changes in accordance with the rebate rate or cost of capital or in acclimation to money streams and utilization of a risk free markdown rate. Navimipour, Nima Jafari and Yeganeh Charband (2016) demonstrate that 47% of firms utilize a similar rebate rate for all activities. This is a flag that organizations do not give careful consideration to extend assessment chance. Unexpectedly, Barfod, Michael Bruhn and Kim Bang Salling (2015), guarantee that organizations change the rebate rate as indicated by project sort. It is referred that the perfect examination process ought to think about a quality and shortcoming asset report, realizing that the choice is an exchange off between clashing criteria contrasting choices as an essential with get an arranged arrangement.

Estimated Budget

With respect to the way an enterprise funds its action, consider that the organization's esteem is influenced by the capital structure utilized. Along these lines, it can be examined if there is an ideal capital structure, the one which boosts the estimation of the firm. At last, past the significance of speculation choice, it is basic to recognize that the way extends are financed is likewise of extraordinary significance (Dalal-Clayton, Barry and Barry Sadler, 2014). Along these lines, obligation arrangement and financing choices are basic to the project's reasonability.

Speculation choice investigation does not for the most part consider impetuses and data issues that can rise by the way that the choice relies upon the reports of individuals, with their own advantages and private data about the nature of the undertaking. Project choices can be impacted by organization issues and asymmetry of data between the leaders (administration) and capital proprietors (investors). Speculation choice bending can happen due to the misalignment of administration and investor premiums, and as a result of data asymmetry amongst insiders and outcasts. The two thought processes make the speculation touchy to the accessible assets in the firm. Harrison, Anthony John (2017), takes note of that organizations with more income have greater inclination to contribute, in some cases in non-lucrative activities chiefs over-contribute for private advantages. The over-speculation builds the operator's energy since it expands the assets under his control and frequently emerges connected to higher administrator compensate.

The essential motivation behind efficient examination is to accomplish better spending choices for capital and current consumption on plans, projects and projects. This report gives a review of the fundamental explanatory strategies and methods which ought to be utilized as a part of the examination procedure. These methods can likewise be utilized as a part of the assessment procedure (Kerzner, 2013). A comprehension of marking down and Net Present Value (NPV) counts is principal to appropriate examination of activities and projects.

In the NPV technique, the incomes and expenses of an undertaking are assessed and after that are marked down and contrasted and the underlying project. The favored choice is that with the most elevated positive net present esteem. Tasks with negative NPV esteems ought to be rejected in light of the fact that the present estimation of the flood of advantages is lacking to recoup the cost of the undertaking.

In the above table, the calculations in context to the benefit and costs associated with the project have been presented to illustrate upon feasibility of the project. The above calculations show that the project is feasible to be carried out as the development cost will be one time investment and for the next 4 years there will be profit achieved from the project. The net profit that will be achieved for 4 years have been calculated as $15000.00 as the annual expenses required to maintain the bridge is $275,000.00.    

The above table represents the benefit or profit that can be achieved from the project with respect to the investment that have be done for replacement of existing bridge.

Stakeholders

The calculations in the above table represents the period in which the profit can be achieved from the project. The breakeven period for this particular project is calculated to be in between Year 1 and 2. The breakeven period is calculated with the help of yearly NPV analysis and overall NPV flow that is available during execution of the project.

The benefit that has been derived in the Cost benefit analysis is in context to NPV (Net Present Value) this means that the profit that will achieved in terms of the net present value of the whole project. This includes the direct as well as indirect costs associated with the project. The overall economic benefit that will be achieved from this project is estimated to be $$551,810.66. The net economic benefit has been derived by calculating the total annual expenses that will be incurred for the bridge total costs for development. The annual expenses comprise of maintenance, costs for staffs and resources.

This particular project for replacement of the bridge is will be handled by Contractor group under the undertaking of Government. This project will be carried out basically as a government initiative towards uplifting infrastructure of the city. The benefits that will be achieved from the project is that the distance will be shortened to connect the outskirts with the main locality. The time required for travelling will be lessened thus resulting into savings of the citizens. Hence, it can be said that the project is feasible and will generate potential revenue for the coming years with replacement of the existing bridge.

The presence of many risks are common of a development project and are for the most part reasonable (e.g., extensive hole between development trains on project better coordination or planning; clashing directions from customer's staff to temporary worker assign single purpose of contact amongst customer and contractual worker; provider is shy of material for project connect with another provider, and so forth.). These can normally be made do with the utilization of proper cost control measures and project administration strategies (Larson and Gray, 2013). For this project, there are a few noteworthy risks that could conceivably significantly affect spending plan as well as calendar. Some can be straightforwardly controlled or affected by the project group, while some are not and rely upon economic situations. Steel speaks to a huge segment of the bridge material and cost (roughly 40% of development cost) and is affected by advertise request. It will be critical to utilize the alleviation systems laid out beneath to help lessen risk.

Steel costs are influenced by worldwide financial drivers Secure a defender group through a settled value contract at the earliest opportunity

Change in development advertise conditions Secure defender as right on time as could reasonably be expected

Contending projects draw assets and temporary worker intrigue far from this project Secure defender as right on time as could be expected under the circumstances

Genuine site conditions change essentially from expected Undertake extra geotechnical examination work to decide the degree and state of harbor bedrock

Project Manager Authority Level

As talked about under "Design and Contracting Strategy", the prescribed acquirement technique is a community oriented approach that permits plan efficiencies to be made to help decrease cost. This gives the chance to an esteem included plan approach. In the occasion that real risks do rise and the pertinent moderation systems distinguished before are not successful.

Risks will be audited and refreshed all the time to mirror the present comprehension of risks and vulnerabilities as real occasions happen. Since getting open endorsement to get the assets important to supplant the  Bridge, the staff and counseling group have been further investigating different development techniques (outline offer form, plan assemble and configuration help) to distinguish the most reasonable to this extend in light of the project degree, courses of events, and risks. To connect with qualified defenders early, an obtainment procedure that joins an aggressive outline help approach prompting a settled value contract will be utilized. This fuses a prequalification methodology to perceive and shortlist three qualified safeguard bunches with strong contribution in building complex structures and moveable platforms in an urban circumstance. After three promoters have been picked, all diagram information from the City's lead counselor will be given to them under the second step of the securing strategy the Request for Proposals.

In the midst of this period, the short-recorded backers will be welcome to fundamentally review the trademark design, in the midst of the preparation of their recommendation, to investigate whether any layout changes or adjustments can be recognized that will streamline the arrangement of the substitution interface and pass on the undertaking on time or under spending design. This could consolidate adjustments that offer additional helpfulness or cost diminish, recollecting the building layout of the substitution interface. To help the illustrative arrangement review, disconnect business in-assurance social events can be energized between the protectors and the City's blueprint gathering. This is intended to search for framework or constructability advancements that could incite efficiencies and cost hold reserves for the execution of the trademark design.

Conclusion

This project is based on replacement of existing Bridge with an estimated budget of $ 77 Million from which city council will contribute up to $ 49.2 Million. The aim of this project is to enhance the existing infrastructure of the bridge so that it becomes more dependable, secure and there is pathway for cyclists as well as pedestrians. From development of project charter and analysis of the project scope, it can be concluded that the project will be a success if the progress is made according to the project plan. The risks that may hamper the project have been analyzed thoroughly in the project charter so those have to be taken into consideration for successful completion of the project. The work breakdown structure being developed for the project illustrates on the various activities that have to be carried out for replacement of existing bridge. The analysis of the cost benefit associated with the project reflects that the total investment can be achieved within a period of 1.74 years. The mitigation strategies for management of risks have also been presented so as to secure successful execution of this project.

References

Barfod, Michael Bruhn, and Kim Bang Salling. "A new composite decision support framework for strategic and sustainable transport appraisals." Transportation research part A: policy and practice 72 (2015): 1-15.

Burke, Rory. "Project management: planning and control techniques." New Jersey, USA (2013).

Cicmil, Svetlana, et al. "Exploring the complexity of projects: Implications of complexity theory for project management practice." Project Management Institute, 2017.

Dalal-Clayton, Barry, and Barry Sadler. Sustainability appraisal: a sourcebook and reference guide to international experience. Routledge, 2014.

Harris, Elaine. Strategic project risk appraisal and management. Routledge, 2017.

Harrison, Anthony John. The economics of transport appraisal. Vol. 10. Routledge, 2017.

Heldman, K. (2015). PMP project management professional exam deluxe study guide: updated for the 2015 Exam. John Wiley & Sons.

Hill, G. M. The complete project management office handbook. CRC Press, 2013.

Ika, Lavagnon A., and Damian Hodgson. "Learning from international development projects: blending critical project studies and critical development studies." International Journal of Project Management 32.7 (2014): 1182-1196.

Kerzner, Harold. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons, 2013.

Larson, Erik W., and Clifford Gray. Project Management: The Managerial Process with MS Project. McGraw-Hill, 2013.

Lientz, Bennet, and Kathryn Rea. Breakthrough technology project management. Routledge, 2016.

Macharis, Cathy, and Annalia Bernardini. "Reviewing the use of Multi-Criteria Decision Analysis for the evaluation of transport projects: Time for a multi-actor approach." Transport policy 37 (2015): 177-186.

McNeil, Alexander J., Rüdiger Frey, and Paul Embrechts. Quantitative risk management: Concepts, techniques and tools. Princeton university press, 2015.

Mir, Farzana Asad, and Ashly H. Pinnington. "Exploring the value of project management: linking project management performance and project success." International journal of project management 32.2 (2014): 202-217.

Navimipour, Nima Jafari, and Yeganeh Charband. "Knowledge sharing mechanisms and techniques in project teams: Literature review, classification, and current trends." Computers in Human Behavior 62 (2016): 730-742.

Penning-Rowsell, Edmund, et al. Flood and coastal erosion risk management: a manual for economic appraisal. Routledge, 2014.

Pritchard, Carl L., and PMI-RMP PMP. Risk management: concepts and guidance. CRC Press, 2014.

Short, Michael, et al. Strategic environmental assessment and land use planning: an international evaluation. Routledge, 2013.

Svejvig, Per, and Peter Andersen. "Rethinking project management: A structured literature review with a critical look at the brave new world." International Journal of Project Management 33.2 (2015): 278-290.

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

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

Zavadskas, E. K., et al. "Multi-criteria analysis of Projects' performance in construction." Archives of Civil and Mechanical Engineering 14.1 (2014): 114-121.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). Project Proposal For Replacement Of Existing Bridge. Retrieved from https://myassignmenthelp.com/free-samples/mpm502-project-evaluation-and-management/hawkesbury-river.html.

"Project Proposal For Replacement Of Existing Bridge." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/mpm502-project-evaluation-and-management/hawkesbury-river.html.

My Assignment Help (2021) Project Proposal For Replacement Of Existing Bridge [Online]. Available from: https://myassignmenthelp.com/free-samples/mpm502-project-evaluation-and-management/hawkesbury-river.html
[Accessed 21 February 2024].

My Assignment Help. 'Project Proposal For Replacement Of Existing Bridge' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/mpm502-project-evaluation-and-management/hawkesbury-river.html> accessed 21 February 2024.

My Assignment Help. Project Proposal For Replacement Of Existing Bridge [Internet]. My Assignment Help. 2021 [cited 21 February 2024]. Available from: https://myassignmenthelp.com/free-samples/mpm502-project-evaluation-and-management/hawkesbury-river.html.

Get instant help from 5000+ experts for
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing: Proofread your work by experts and improve grade at Lowest cost

loader
250 words
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Other Similar Samples

support
Whatsapp
callback
sales
sales chat
Whatsapp
callback
sales chat
close