The feasibility study covers many important points such as technical, legal, economic, operational, and related to scheduling that would be helpful for reducing the risks in the project and addressing probable issues of the project. The large industrial project would intake a huge sum of money and the use of feasibility study would help in information development for stakeholders like Environmental Analysts and Local Governments.
The business strategy matrix has shown that high attractiveness and strong competitive position in a project is resulted when the project plan is based on impressive Leadership and leaders. The efficient leaders would help in developing maximum investments, diversify the operations, consolidate the position for focusing on the resources, and build the market share with the help of near-term profits for penetrating into the new country market.
The company PMO is responsible for defining and maintaining the process standards for the organization by developing an effective framework for establishing the framework of standard performance measure. They form and imply the project vision and mission and plan for project portfolio and operations development.
Benefit cost analysis is the systematic approach that is helpful for estimating the strengths and weaknesses of the project implementation alternatives and for comparing the benefits and costs of the project to determine the project selection.
Project developer has several roles and responsibilities that requires excellent communication skills, financial knowledge, and team work. The project developer helps in performing project designing and development of activities as pert he customer’s requirements during the project scoping phase.
The residential complex project has a requirement of maintaining the cultural heritage of the project location. However, a construction project should be cost effective and feasible for the development of the project operations. Hence, the scope of the project designer should be to form feasible designs that signify the project cultural objective.
The project detailed design would be formed by the lead engineering consultant for overcoming the potential risks and applying the secured design of the EPC turnkey package of the project. The lead engineering consultant would help in developing the design for the software package.
The Coal fired power plants project require the use of coal as the fuel of the power plant and the logistics study of supply and handling the coal should be done in the commissioning and startup phase as during this phase of the project, the coal would be required to be used for running the power plant.
The Preliminary Design Phase is characterized by the development of design specific solutions that is based on the safety and design requirements. The progress limitation to 10% – 20% for ensuring the estimation with an accuracy of ± 40% for an oil and gas project falls under the Preliminary Design phase of the design lifecycle.
The Public-Private Financing is a co-operative financial arrangement that is held between two or more private and public sectors and lasts for longer period of time. The real estate project deployment consists of joint venture of project companies with an equal investment of 30,000 and the Government financial institution investing 40,000
The Build Transfer Operate contract would be followed as it is a contract that involves the development of the electricity and transferring the electricity developed with the help of State Municipal Electricity Board.
The company wants to deploy the turnkey contractor for the execution phase as it would decrease the probability of the operational risk for the company. The contractor would ensure that the technology would work successfully for the company and the company would be liable for the operational issues.
The tactical to strategic supply strategy should be followed as the project requires the development of the specialized fabrication and erection of steel structure for heavy industry and infrastructure projects. The fabrication of 23,000 tons of steel would require the tactical strategy development and then implementing the strategy for successful completion of the project.
The Basic Alliance and Partnership is formed when two or more parties forms an agreement of working together on a definite objective while rest of the operations would remain independent. It would allow company A and B to form collaboration of project phase 2 and future projects without involving in other aspects of the project.
The Engineer contractor is responsible for the expansion of the company’s operations in the petrochemical field and involved in growth of the company portfolio and shareholder’s return. The contracting strategy developed with the Engineer contractor is Design, Build, and Operate basis.
The developer had to develop the project feasibility study and conceptual design in the front end planning phase. However, for the detailed scope development, the developer would need to form the project scope definition and boundaries, process design basis, and cost estimation and schedule.
The PMO wants to boost his performance in management of the project portfolios and establish a model for the engagement of the operational team in the project. PMO would have to imply cross-organizational alignment between functional groups within organization to align the objectives throughout the project life cycle along with maintaining a top-to-bottom alignment within an organization.
Considering the good and bad points about Overestimation and Underestimation, the worse condition of the two is Underestimation. The developer would have to take care of the issues that can harm the project in long run. Hence, his major concern about the project project cost and time would be Strategic Underestimation.
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