Management of Operators For Large Assets †MyAssignmenthelp.com

Question: Discuss about the Project Management of Operators For Large Assets. Answer: Project definition in context of large assets Theproject management of large assets should include employment of a team of specialist who would be responsible for the fully integrated feasibility study with diligence studies in relation to the economic evaluations and risk assessments. A project leader is an integral part of this project as well who is responsible for specializing in coordination and integration of the inputs from discipline specialists to validate that the project has a proper and thorough appreciation of the technical issues that are within an appropriate business context. The mining consultant of the project is responsible for assisting the project team with mergers and acquisitions along with the project financing (Finnerty 2013). The tender for the project financing should be properly laid in order to implement the project successfully. Project Justification and Contract process The project is justified, as it will help in maintaining and managing larger assets. Different sites are considered for this project and the implementation of the project work according to the project plan will help in proper extraction of natural resources through a process of mining and their maintenance. The contract type decided for this project is a cost plus contract. This contract is chosen as it involves the payment of the actual costs of the project, purchases and other expenses obtained directly from the different construction activity. This contract will involve specific and clear information about the pre-negotiated amount of the project costs which will cover the contractors overhead and profit. The detailing of the cost in accordance to direct and indirect costs is necessary in this type of contract (Brandes et al. 2012). Project Financing The project financing is carried out keeping in mind the resources and the cash flow related with the project. The finance should include the potential benefits of the project and the profits from the investments. The financing of this project has undergone three phases, which includes the pre-decision phase that consisted of undergoing proper feasibility studies, experts opinion and aimed at selecting the best version of the project (Winch 2014). The second phase included the investment phase that deals with the planning and contract of the different materials that would be required for the project, services, equipments needed and furnishing. This included the traditional activities contractors hiring and managing their supply chain. The third phase includes the operations phase that estimates the use of facility and resource management as a part of the project requirements (Finnerty 2013). Project Condition, Project Team and Project processes The general project condition includes tools, resources and equipments needed to implement the project. The project tender estimates the costs of the equipments needed, tools and resources as well. The tender further includes the pre development fee, utilities, and office trailers, cost of vehicles and dumpsters, clean up, project staff and labor wages as well (Chin et al. 2012). The members of the project team includes- A project manager A construction manager Project stakeholders Project Owners Contractors Sub Contractors Project Scheduler Safety Manager Staffs and laborers The majorproject management processes related to this project is communication management process and resource management. Different communication planning methods can be implemented for maintaining proper communication flow within the project and to keep the stakeholders informed about the project progress. This is a part of aproject management process, which helps in delivery of successful projects. The resource management process is essential for keeping a track of the project requirements. Expected estimate The expected estimates of the project labor plant materials and subcontractors and other team members are elaborated in the following table Resource Name Std. Rate Project Manager $80.00/hr Workers $35.00/hr Construction manager $80.00/hr Laborers $20.00/hr Sub contractors $50.00/hr Contractors $70.00/hr Business Analyst $70.00/hr Materials cost (estimated) $1000000 Equipments Cost (estimated) $900000 Safety manager $50.00/hr Project Scheduler $45.00/hr Quality assurance manger $45.00/hr Requirements of project changes The requirements or causes of the project change are listed below (Stark 2015)- The difference in opinion of the project stakeholders may lead to the changes in project requirements. Possibility of change in this project requirement should be considered in the tender. Changes in the regulation can be considered as another requirement of project changes. If new regulations or legislations are introduced, it may result in change of project scope and requirements. The improper requirement specification is another major reason of requirements of project changes in particular project. Changes in sponsorship may lead to the requirements of project changes and therefore, this criteria should also be kept in mind Another requirement of project change may be due to the change in the business strategy that may ultimately lead to the change in scope and requirements of a project. Updated technology mainly during a long project as this may be another reason of requirement of project changes. Requirements for Quality Assurance and Quality control Quality Assurance and quality control is required for this project in order to ensure that the project meets the specified requirements (Oakes 2012). The requirement for ensuring quality control and quality assurance for the project includes- The need for through testing of every phases of the project to ensure that the project under development meets the set specification A quality control manager should be appointed who would be in charge of the project quality assurance The routine quality testing is essential for assuring the specified quality of the project. Proper operational techniques should be identified for fulfilling the requirements based on the quality of the project. Different operational actions should be supervised by the quality control manager to ensure the specified quality of the product Requirements for document management, reporting and governance Document management is necessary for keeping a track of the of the project progress according to the planned schedule. Furthermore, it helps in keeping a track of all the project works. The requirements of documents management include appointed of a document manager who would be responsible for keeping a track of the project works and archive all the project documents (Winch 2014). Project reporting is necessary to keep the project owner and project stakeholders updated about the project progress. The sub contractors are responsible for reporting to the contractors, who in turn report to the construction manager and project manager. The tender should include the cost of reporting as well. Project governance or project supervision is necessary to ensure that the project is implemented according to the project plan. The project manager and the construction manager is responsible for project governance and therefore, the requirements of governance includes project and construction manager. Requirements for disputes, Arbitration and mediation Arbitration and mediation are the two methods of dispute resolution. Arbitration is a dispute resolution technique that are used for resolving the disputes outside the court. It is generally used for resolution of commercial disputes and therefore it is necessary requirement of a project. A single mediator who helps in facilitating the discussion and eventual resolution of the dispute however, conducts mediation. This is another major requirement that should be considered in this project. 10. Requirements for Safety Ensuring project safety is an integral part of project management. Therefore, requirements for safety in a project includes Designing of a safety manual by the project supervisor for ensuring the safety of a project The project should comply by the legal requirements in ensuring the safety of the workers. Workers safety should be considered as a first priority. References Brandes, T.T., Fernandez, P.B., Issa, P., Lee, V.Y. and Ma, L.J., Sprint Communications Company LP, 2012. System and method for project contract management. U.S. Patent 8,108,232. Chin, C.M.M., Spowage, A.C. and Yap, E.H., 2012. Project Management Methodologies: A Comparative Analysis Participation. Journal for the Advancement of Performance Information Value, 4(1). Finnerty, J.D., 2013. Project financing: Asset-based financial engineering. John Wiley Sons. Finnerty, J.D., 2013. Project financing: Asset-based financial engineering. John Wiley Sons. Oakes, M.G., 2012. Project reviews, assurance and governance. Gower Publishing, Ltd.. Stark, J., 2015. Product lifecycle management. In Product Lifecycle Management (Volume 1) (pp. 1-29). Springer International Publishing. Winch, G.M., 2014. Three domains of project organising. International Journal of Project Management, 32(5), pp.721-731. Winch, G.M., 2014. Three domains of project organising. International Journal of Project Management, 32(5), pp.721-731.