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In this course you are required to complete a weekly portfolio. A portfolio provides evidence of previous experience and presents a dynamic record of your growth and professional learning over the duration of this course. Your task is to write a portfolio.

In your portfolio you will identify:

The learning outcomes and module/topic of the course;
A description of your experience, including reading samples or records;
Your learnings based from your experiences;
Any supporting documentation of prior or current learning.

The primary purpose of this assessment is to help you to develop skills for discussing the value of project management for mining, plant and large asset operators and owners. The secondary purpose of this assignment is to give you the opportunity to enhance your analysis, critical thinking and written communication skills; particularly in the areas of thinking about and reflecting on your personal and workplace practice.

Developing a portfolio, as a result, makes your learning more explicit as you translate your workplace and personal experiences into documented evidence.

The Definition of System Thinking

The following discussion is made to understand and outline various processes and functions of project management at various companies in Australia. These are helpful for operators and owners of large assets. They are the fixed items like process plants, manufacturing and mines and has been much linear such as telephone networks, powers roads and railways.

Further, they are also owned by various governments such as hospitals, universities and schools. Moreover, they are by buildings, aircrafts and sugar mills privately. The huge resources are also tangible like in mine and hospital and have been less tangible like managed and software services.

Summary: The system thinking is the group of interacting, interdependent and interrelated elements that has been forming complicated and can be unified as whole that has possessed a special purpose. On the basis of the definition, the project can be considered as an overall system. For example, Microsoft being an operator of huge resources, their system boundary has been the scope of concern and interest and has been changing as the scope of various interest changes. The parts of the systems within the boundary interaction have been the scenario existing external to the boundary (Fdhila et al., 2015).  Further, the project has the boundary on the basis of initial scopes. However, the boundary has not been changing with change of scopes. Here, the project teams within the project boundary have not been possessing interactions with the external stakeholders as they are considered to the element of the overall scenario. The system has been taking input from the external environment and transforming to desires outputs. Within the project the perquisites are considered as the inputs to be transformed by project teams to services and products as the final outcomes. Here, the system possesses the structure defining various parts, uses and relationships to undertake the actions (Grolinger et al., 2014). Further, project implementations of Microsoft have been employing structures, activities and processes. Here, the systems have been commonly open and interacting with the environments. Here, they are been arranged as per hierarchy and exhibiting emergences.

Evidence: This has been evident from case of implementation of big data at Microsoft project.

Summary: This is the agreement between various parties creating obligations that are been enforceable and can be identified by the law. Here, the contracts has been including and not limited to documents as terms and conditions, letters of agreements, leases, memoranda to understand, letters of intent and intersystem and interagency agreements. Here, the contracting agencies have been the non-profit agencies, government agencies and private industries.

The Importance of Contracts in Project Management

For example, at Queensland, the sponsors have been often choosing agreements to negate various scopes to go for the type of agreement. Besides, it has been vital to select the kind of agreement where possible that has been highly suited for the transactions (Hinkelmann et al., 2016). However, it has been always preferable to contract or sponsor the using the standard agreements. Various agreement templates and forms have been serving the beginning point regarding various kinds of negotiations. This has been specifically helpful as the funding agencies have not been having the draft agreements. The “proposal type” agreements pages have been to understand various agreements and the standard applications. Further, the standard agreements have been protecting the business interests and are documented in clear language. However, contractual transactions that are entered into through standard agreement have never needed the review or approval of the organization.

The overall package of contracting of healthcare at Queensland should be including totally signed proposal routine sheet, However, there are not needed for contracts to get reviewed by various procurements and contracting services. Next, there has been a budget, payment schedules, scope or statements of works and extra supporting documents.

Evidence: This has been evident from case of Queensland health project.

Summary: The project finances have been the method to get any project done. This is done through protecting various resources that are possessed by companies. Here, the project sponsors of the company need to create projects that must set up another company essentially. The smaller company is referred to as the project company. Extra funding originates from various independent leaders and provides the loans (Heldman, 2018). As the project move towards the wrong path the bigger company can get bankrupt. Though it has been less complicated, the type of arrangements is used every time in terms of construction projects, infrastructures and energies.

For restricting various risks to the investors, the sponsors of the projects of Woolsworth has been creating independent project firms where the equity must be known. Here, this independent project company should own every resources related to the project. This includes various tools or real states and must be able to include contracts and then retrieve different loans for those projects (Leach, 2014). Here, loans on the basis of various predicted cash flows of the project have been denoted as “project finance” and the project company ceases to exist as the leans get rapids, the keeping of resources to the sponsors of the project is to out on the balance sheets.

Project Finances and Funding

Evidence: This has been evident from implementing cloud computing at Woolsworth, Australia.

Summary: The project estimation is a critical way to plan projects and include quantitative estimations of various project costs, durations and resources. For big data analysis at IBM a conundrum to estimations, particularly for various public sector projects has been that the bidders at many times has been making optimistic estimations for winning businesses. Further, the cost estimations have been the costs related to work activities or packages under the schedule of the project. It has been relying highly on activities are work packages and it can be found through three-point, parametric and analogous tools (Binder, 2016).  Thus it has been vital for all cost estimations to incorporate various assumptions that are made and the origin of the estimations provided with confidence level and information and so on.

Evidence: This has been evident from big data at IBM project.

Summary: The change management is intended to manage various project requirements. This helps in controlling various approved changes. This helps in assuring the project remains within time, budget and provides various agreed deliverables. The main objective of change management at Commonwealth Bank has been to control every change requests starting from initiation to closures, various process change requests on the basis of directions from proper authority (Kerzner & Kerzner, 2017). They are also able to communicate with various effects of different changes to proper personnel and permit little changed to get changes having the least overhead. This change management process is used to initiate, analyze, record, resolve and approve those changes in projects. Further, the project changes are required as it is needed to change the scopes, costs and times of prior approved project deliverables. Here, most of the changes have been affecting the schedules and budgets of the project. However, as the changes gets approved, the changes are communicated to the team, the project deliverables are upgraded for reflecting the changes and the every change requests are communicates to the status report.

Evidence: This has been evident from data analytics in Commonwealth Bank project.

Summary: Developing any solid contract has been demoting the initial step towards the success of project. The various lists demonstrate documents are the part to construct contracts. Further, there are also various other forms or exhibits that can be used in assimilation to those documents. Further, one also incorporate various details to issue the orders of stop-works, staffing necessities, data regarding liens, security instructions and various excusable events and the ways they can be defined. For examples in the case of Queensland health project, all the builders and contractors has been exploring possibility of extra documents relying on the trade and industry specifications (Dingsøyr et al., 2018). Here the aim of the contracts has been to establish various claims and problems and provide legal bodies used for presenting claims and solve those potential conflicts when there is any necessity to undertake legal actions. The contract agreements are used by contracting officers and are a vital element of contract documents. It is an important document over which maximum of the documents are referenced or attached. Further, having solid work scope has been useful to bid various process and during construction sequences (Dattero et al., 2017). Further, the well defined scopes are utilized to find out the work needed to terminate the project. The contract documents must be documenting various obligations has been about the execution of project and the right of the party. The things to be claimed and overhead costs are to be involved in this part of the contract. However, as per as the special conditions are considered at Queensland there has been usually the extension of addendum and contracts for general conditions. This must be specifying particular conditions and various clauses for every specific project job or project. The must further pay attention to particular requirements and instructions regarding how to do those activities.

Project Estimation Tools and Techniques

Evidence: This has been evident from case of Queensland health project.

Summary: Understanding of the basis of document management system has been to assure that the implementation is done successfully. It helps in participating as the part of team with the document management vendor chosen. This has been a primary ingredient towards successfully perform document management. This helps in up fronting the system planning. Here a major difference can be done from the side of document management vendor. At Atlassian, Australia, the overall team effort involves the team and vendor’s team (Cooper & Sommer, 2016). Instead of any involvement and buy in from staff and management, the implementation of document management remains unsuccessful. Thus to receive the buy in from management tends has been needed to be simple. Here, various advantages to implement document management system have been highly quantifiable.  Thus receiving any buy from tends of management has not been simple. Here, the advantages of document management system have been quantifiable and dropping right to that bottom line and improving the efficiency. This has been done in such that it has been also startling (Bider & Jalali, 2016). Here, the success ahs needed that the proper document management vendor is picked and one who have been actively listening to those clues. Thus the success has also needed buy in from various organizations. Having these success factors in place, the document management system exceeds the expectations.

Evidence: This has been evident from case of cloud implementation at Atlassian project.

Summary: The conflicts are able to drive changes. Thus the businesses manage conflicts to gain those changes quicker and with effective results. Various considerable research bodies have been present that has been recognizing employee involvements and empowerments as significant contributors to various organizational effectively. For example in managing risks at Eftel, the challenges have been to foster the interest based approach in power-based businesses. The business has been needed to find out whether they have been working with other’s interests or rights in any case. Under hierarchical cases, there has been set of rights that the employee possesses under the authority level. The manager has the authority to undertake decisions that has been affecting various direct reports instead of any input (Wirtz et al., 2016).  Besides, it has been the interest of managers to make consultation with employees and address interests and thus gaining commitments. Further, the primary skills of conflict management have been to know the nature of conflicts, using tools to assess those conflicts and have interest based negotiations. People has been learning to witness conflict has the struggle of power among authorities and rights of people. However, this has been the process is to meet interest of every people at Eftel. It has been very effective impact towards business and creativity.

Change Management in Projects

The construction of projects has been undertaking many years to end. They have been involving various layers of subcontractors and contractors and employ hundreds of employees. Effective resolution of conflicts has been vital in projects since it has been helpful to sustain relationships between entities and people. They are needed to continue to work together over any project that has been streaming schedules as any conflict arises. Moreover, to maintain effective relationships within project at constructions, the parties have needed to maintain relationship for future projects. This has to be done in private and no other record of public of any kind of proceedings has been confidential necessarily (Van Der Aalst, La Rosa & Santoro, 2016). Again, the speed has been depending largely on the way in which the arbitrators have been conducting the arbitrations. Here, the parties are able to agree over arbitrators with related expertise in that matter. Here, the awards of arbitrators are enforced as the court’s judgments.

Evidence: This has been evident from case of risk management project at Eftel, Australia.

Summary: As much the project managers have been accustomed in providing metrics over the project health, they have been overlooking the security of project teams. The study has been helpful to delve into various environments, safeties and health as the KPI or key performance Indicators. Further, they have understood the ways to report, manage and plan those tasks. At Franklins, the critical intersections of safety and project managements have included the decrease in income erosion (Tregear, 2015). This has been helpful to develop quality and create complex cultural enrichments. Here, the process has started with recruitments, vetting and identifying of most skilled, talented and experienced safety and health professionals at the marketplace. As identified once, the project managers must prequalify, interview verify and then check into the candidate’s backgrounds. For understanding those fits, every client must be encourages to interview the employees and the different project teams for determining whether there has been good fit for the clients. Further, there has been particular necessities and various internal systems present there. Though it has seemed to go extreme to hire proper professionals and drive them to success, the failure has not been simply the option for project management along with the paramount of satisfaction and success. In order to permit project managers of Franklins in better understanding of interfaces with safety, health, the environmental professionals has been setting the groundwork for rolling up safety with better roll-ups (Sparrow & Makram, 2015). Further, the safety leaders have been facing more granular kind of approach towards safety assisting them to understand how to make plan for training, industrial hygiene and various preventive programs. Here, the added cultural security has been pushing from project managers in creating the identifications of incorporated awareness of security that has been concerting with various security professionals. This has been also reducing income erosions and leading to gains in morale, quality and satisfaction of customers of Franklins.

The Role of Contracts in Document Management Systems

Evidence: This has been evident from case of Franklins’ business analytics project.

Summary: The projects are challenging and once the idea of wider research area of chosen, the project managers must try to perform something that some preliminary researches through scientific reports, popular science magazines, Internet and books. The extension of projects provides the time and freedom to explore ideas that over the present interest. This has been the scope to pursue and research anything that is included in the current project. This has been involving the independent working to produce report, investigations and dissertations, designs, performing solo or groups and various charity events.  MAB Corporation , for example, have needed to manage that includes design, identification, plans and end projects that are applicable to organizational strategies and skills for meeting the various stated objectives (Rosemann & vom Brocke, 2015). Further, the researchers are resources are to be sued to select and retrieve data from various range of sources, then the data is needed to be analyzed and then it must be applied relevantly. Then they must demonstrate the understanding proper complexities and connections for the topic. Further, they must realize and develop wide range of skills that has included the using of new technologies, solve problems and undertake decisions in critical manner. This must be done flexibly and creatively and for achieving those aims for MAB Corporation. Next, the outcomes are to be reviewed that must include performances and learning.

Evidence: This has been evident from case of MAB Corporation’s information system risk management project.

Summary: In order to ensure sustainability, the local agents should try to assure that the funding has possessed the highest possible effect in their areas. First of all, the stakeholders must be supported with time and support for identifying the solutions and problems of sustainable projects. They must address the actual challenges that are identified by the targeted community. For example the managers of Melbourne IT, must be looking at the necessities and problems of people who the program has intended to take benefit (Norta, Grefen & Narendra, 2014). Next sustainability must be created within design phase. The information collected during assessment phase must be used for defining particular problem that is addressed and determine about what the best way to address that has been. Here, the process has included setting of wider objectives of projects and various activities that is to be done to gain those goals. Further, the proper people must be included at the right place in designing. The project key within design phase has been including people who are neutral, trustworthy and knowledgeable. Further, they have the capability to create bridges and move towards any community for positive changes (Hinkelmann et al., 2016). This kind of people has been coming from the community projects as needed to benefit and recognize people with those qualities and various professional competencies that have been a problem. They must into the current projects for avoiding various duplicating efforts. The sustainable projects have been designed for avoiding the overlap under the current work. Further, it is also noted from the study at Melbourne IT that sustainability can get threatened by the tendencies of ruling various reformed of law for setting new projects. This is instead of any current projects that have been already working for meeting same and identical necessities.

Evidence: This has been evident from case of Melbourne IT risk analysis project.

Conclusion:

The above business shown as evidence and having the above resources has been helpful to describe the study and investigate primary project processes. They are related to the selection, justification and identification of projects to define, deign, create and maintain the large assets. Further, they have been exploring various programs and projects contracts regarding operational and non-operational works that are undertaken at in-house and via the external sub-contracts. The above learning outcomes have explored various means through which resource rich businesses has been budgeting, financing and estimating various projects. Further, the closure and different project phases, warranty arrangements and hand-over are also understood from the above discussions.

References:

Bider, I., & Jalali, A. (2016). Agile business process development: why, how and when—applying Nonaka’s theory of knowledge transformation to business process development. Information Systems and e-Business Management, 14(4), 693-731.

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

Cooper, R. G., & Sommer, A. F. (2016). The Agile–Stage?Gate Hybrid Model: A Promising New Approach and a New Research Opportunity. Journal of Product Innovation Management, 33(5), 513-526.

Dattero, R., Galup, S. D., Kan, A., & Quan, J. (2017). It Pays to Be Agile. Journal of Computer Information Systems, 57(3), 252-257.

Dingsøyr, T., Dybå, T., Gjertsen, M., Jacobsen, A. O., Mathisen, T. E., Nordfjord, J. O., ... & Strand, K. (2018). Key Lessons from Tailoring Agile Methods for Large-Scale Software Development. arXiv preprint arXiv:1802.05118.

Fdhila, W., Indiono, C., Rinderle-Ma, S., & Reichert, M. (2015). Dealing with change in process choreographies: Design and implementation of propagation algorithms. Information systems, 49, 1-24.

Grolinger, K., Capretz, M. A., Cunha, A., & Tazi, S. (2014). Integration of business process modeling and Web services: a survey. Service Oriented Computing and Applications, 8(2), 105-128.

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

Hinkelmann, K., Gerber, A., Karagiannis, D., Thoenssen, B., Van der Merwe, A., & Woitsch, R. (2016). A new paradigm for the continuous alignment of business and IT: Combining enterprise architecture modelling and enterprise ontology. Computers in Industry, 79, 77-86.

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

Leach, L. P. (2014). Critical chain project management. Artech House.

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Müller, O., Schmiedel, T., Gorbacheva, E., & Vom Brocke, J. (2016). Towards a typology of business process management professionals: identifying patterns of competences through latent semantic analysis. Enterprise Information Systems, 10(1), 50-80.

Norta, A., Grefen, P., & Narendra, N. C. (2014). A reference architecture for managing dynamic inter-organizational business processes. Data & Knowledge Engineering, 91, 52-89.

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Rosemann, M., & vom Brocke, J. (2015). The six core elements of business process management. In Handbook on business process management 1 (pp. 105-122). Springer Berlin Heidelberg.

Sparrow, P. R., & Makram, H. (2015). What is the value of talent management? Building value-driven processes within a talent management architecture. Human resource management review, 25(3), 249-263.

Stavrou, V., Kandias, M., Karoulas, G., & Gritzalis, D. (2014, September). Business Process Modeling for Insider threat monitoring and handling. In International Conference on Trust, Privacy and Security in Digital Business (pp. 119-131). Springer, Cham.

Tregear, R. (2015). Business process standardization. In Handbook on Business Process Management 2 (pp. 421-441). Springer, Berlin, Heidelberg.

Van der Aalst, W. M. (2015). Extracting event data from databases to unleash process mining. In BPM-Driving innovation in a digital world (pp. 105-128). Springer, Cham.

Van Der Aalst, W. M., La Rosa, M., & Santoro, F. M. (2016). Business process management.

Vom Brocke, J., Petry, M., & Gonser, T. (2016). Business process management. In A Handbook of Business Transformation Management Methodology (pp. 137-172). Routledge.

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