Project Management Process For AGL Loy Yang Essay.

Project management is the mechanism in that a project is handling with special care in order to complete a project within a fixed period of time. In this case, all the aspects of the project is maintained with a special care and there will be project manager who has the capacity to handle the project properly and a project manager has the knowledge how the project will be done within a fixed time (Kerzner, 2013). In addition to that, the objectives of the project can be maintained in an orderly manner. In this regard, the security aspects of the project and the security aspect of the project related employees will also be maintained through the project management process. In this case, the main objective of the project management process is to complete a project within the fixed time period and within the estimated budget. In this study, the project management process and their all aspects will be discussed in order to understand the requirement of the process (Schwalbe, 2015).

AGL Loy Yang has produced 30% of power of Australia. In this regard, they extract the coal from the adjacent Loy yang coal mine. The company is located in the Latrobe valley, 165 kilometers southeast of Melbourne. The company can be able to 2,210-megawatt thermal power by extracting the coal from the Loy Yang mine. In order to supply continues thermal power to Australia the organization operate the mine 24hours a day and they operates seven days in a week (Walker, 2015).

The main aims of the project are to supply the thermal power for the industrialization in Australia therefore the rate extraction need to be increased. In order to achieve the growth rate Australia has to emphasize the production of thermal power because without the energy the country cannot be able to become a developed country (Leach, 2014).

In order to complete, the project the company has a fixed budget estimation where the organization has estimated all the cost of the factors and the extraction of minerals. It is one of the important sides of the project otherwise, it will be difficult for the project to continue and the cost of the project will be high. In this case, other costs of the project also be estimated here in order to make a proper financing of the project (Mir and Pinnington, 2014). In this case, all the shareholder will be able to understand the necessity of the project and they also be able to well understand about the return from the project. In this case, the shareholders of the project will find the profitability of the project and their investment will be depending on the expected profit. Therefore, the expected profit return of the project is another important aspect and in this case, the expected profit return of the project is $5million (Martinelli and Milosevic, 2016). Based on this estimation the shareholders will invest on the project in order to get higher return from the project.

Objectives of the Project

Not only the financing of the project, other aspects of the organization has to be considered in order to complete the project successfully. In this case, the AGL has to consider the time and weather condition because the mining project is totally depending on the weather condition. In this case, the proper choice of timer and weather can lead the project towards the success. In addition to that, the shareholder of the organization has to be stronger otherwise; the project will not be able to achieve the success. In this regard, a proper flow of money is required in order to continue the project. In addition to that, the management structure will also revise in order to run the project smoothly. In this regard, the skill of the management is also needed otherwise; the project will not be able to fulfill the objectives of the organization. In this regard, a skilled project manager is required who can be able to handle the project properly and CEO of the company must be on the top of the project management team. In this case, some skilled employees also hired who has the experience to handle mining project and has the knowledge about project management (Sears et al. 2015).

In this regard, the organization has to follow some process or policies in order to fulfill the aims of the project. Firstly, the project management team has to motivate the employees to achieve the objective of the project, secondly, the aims and objectives of the project has to be clear to the all the employees of organization otherwise, the success cannot be achieved by the organization.

In order to continue the project AGL has develop an budget where all the cost of the project will be discussed and in this case a proper budget will be developed in order on the basis of the total expenditure of the project. In this regard, it can be said that based on the economic theory cost can be of two types firstly it is tangible cost of the project and another one is the intangible cost of the project (Oberlender, 2015). It can be said that, for some unseen factor, the cost of the p-project can be changed and it will be included in the intangible cost of the project. Therefore, the estimated budget of the project is:

Table 1: Budget estimation of the project

Budget Estimation

In this case, some factors may be changed in order to change in the project objectives. In this case, the labor can be changed in addition to that; labor that is more skilled can be employed in order to achieve the objective of the project. In this regard, the project management team can be able to arrange the training and development program in order to develop an skilled labor force on the basis of the requirement of the project (Schwalbe, 2015). In this regard, the project management team has to take some alternative policies if there is any major change in the project due to change in weather. In addition to that, a backup policies is required if there is any emergency situation in the project (Ward and Chapman, 2013).  

In order to maintain the quality the organization has to employ a skilled labor force and the organization must apply advanced technology that can help the AGL to maintain the quality of the project (Huchzermeier, and Loch, 2015). Quality is one of the significant aspects in order to retain the customers of an organization. If the customers are not provided with quality services and products, then in that case they have a tendency to shift their focus on other complimentary products bands services. Certain aspects that include right quality, reliable, durable, and economical to the customers and comply with the ethics and norms characterize quality of products and services. In this case, the safety measure of the employees is also be maintained properly in order to maintain the quality of the project. In addition to that, the organization can insure all the employees who are engaged in the mining project in order enhance the quality of the project. In this regard, the project management team has to maintain the proper timing in order to maintain the quality of the project (Winter et al. 2006).

In the light of globalization, workplaces have become more and more diversified. This has increased the necessity for implementation of an exhaustive document management system. In case of poor documentation system, the organization may find it difficult to assess any kind pof important documents in case of urgency. In addition to that, it may lead to lose of confidential business information that may decline the profitability of the organization. In order to maintain a large size project, the organization has to maintain the proper documents. A proper documentation system helps an organization to store its documents in an arranged manner, maintain security of the documents and thus keep a clean desk. In the document, there will be the contracts of the project, design of the project and all the budget estimation will also be in the documents of the project (Turner, 2007). If the document is not properly managed then the organization will not be able to achieve the objectives of the project and the project management team will not be able to achieve the success within the stipulated period as well.

Skilled Labor Force and Management Structure

In order to complete, the project AGL and the project management team may face some disputes and in order to achieve the success the organization and the project management team has to solve the disputes. Thus, it becomes necessary for an organization to implement a dispute resolution system within the organization. With growing complexities in the nature and the size of the business, chaos within the organization has increased significantly.  In lieu with this, providing for an exhaustive dispute resolution system within the organization has become popular in the modern times.  In order to resolve the disputes the organization has to identify the disputes first, has develop a policy, and will have to take some measure to resolve the disputes of the project (Packendorff, 2013).

It is very important for organizations to implement safety measurement systems in order to ensure safety and soundness of the members of the organizations. A safety msanagement system refers to a planned process that helps in carrying out certain activities in the organizations. In this regard, safety measure of the employees is one of the important factors that cannot be overlooked by the organization. The reason behind implementation of safety measures is to ensure that every task in an organization is carried on with extensive care and precaution in order to reduce the chances of risks. In this case, the organization can insured all the employees in order to provide the safety to the employees. In addition to that, the organization has to use some advanced technology in order to look after the safety measure of the employees. In this regard, the employees can use the GPS locator for which the organization can be able to locate all the employees and the organization can be able to reduce the risk of the employees (Baker et al. 2010). Thus, it can be established that, in order to ensure smooth running of business it becomes essential for organizations to have a safety management system.

Conclusion:

In light of the above study, it can be established that project management is significant in defining the plans and the chaos in the organization, establish a exhaustive plan, encourage the workforce to strive towards the objectives and ultimately meet the organizational goals. In the above study, attempts have been made to illustrate the significance of project management in operating large assets. Efforts have been made in the study briefly discuss the development of project plan and accordingly state its requirements in relation to AGL Loy Yang, an Australian based mining company.  In this regard, this study will help the organization can be able to increase the rate of extraction of coal and be able to increase the production of the thermal power that helps the country to become an industrially developed country. By following all the steps of the project management, it will be easier for the organization to achieve the success within a stipulated period.

References:

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