It is identified that the entire budget that is needed in order to repair the Australian storage facility is around $82,400. The table below reflects the budget that is required to complete each of the project activities.
|
Task Name |
Cost |
|
Repairing Australian Storage facility |
$82,400.00 |
|
Initiation phase of the project |
$6,360.00 |
|
Development of business case |
$840.00 |
|
Feasibility analysis |
$2,000.00 |
|
Establishment of project charter |
$1,600.00 |
|
Appointment of project team members |
$1,200.00 |
|
Reviewing initiation phase of the project |
$720.00 |
|
Project planning phase |
$16,800.00 |
|
Creation of project plan |
$2,400.00 |
|
development of project resource plan |
$1,960.00 |
|
Creation of financial plan |
$1,920.00 |
|
Testing quality |
$5,760.00 |
|
Development of acceptance plan |
$4,760.00 |
|
Project execution phase |
$57,200.00 |
|
Agreement from different participants |
$4,160.00 |
|
Settlement of external issues |
$3,840.00 |
|
Creating agreement as well as finance for the project |
$4,480.00 |
|
Preparatory work completion |
$3,120.00 |
|
Strategies that stops leakage |
$3,200.00 |
|
Development of strategies that resolves issues |
$2,880.00 |
|
Adjustment of activities |
$3,840.00 |
|
Completion of whole repair |
$3,360.00 |
|
Activity adjustment |
$2,800.00 |
|
Repair risk completion |
$8,960.00 |
|
Analysis of completed work |
$7,040.00 |
|
Closure of various types of issues |
$9,520.00 |
|
Project closure phase |
$2,040.00 |
|
Completion of gas storage construction |
$560.00 |
|
Financial reporting |
$800.00 |
|
Post project review |
$400.00 |
The assumptions that are made in order to prepare the budget are as follows:
Budget: It is assumed that the budget that is needed for repairing the Australian storage facility will be completed within the budget $$82,400. It is assumed that even if few project activities will be added then also the variation in the project budget will not be more.
Scope creep will not occur: The project manager assumed that scope creep would not occur within the project. If scope creep occurs due to some reason then also the budget of the project will not vary much.
Time: It is assumed that the time that is needed in order to repair the Australian storage tank will be around 3 months. The project manager will execute the entire project successfully within the assumed time that is estimated.
|
Task Name |
Duration |
Start |
Finish |
|
Repairing Australian Storage facility |
81 days |
Tue 3/27/18 |
Tue 7/17/18 |
|
Initiation phase of the project |
15 days |
Tue 3/27/18 |
Mon 4/16/18 |
|
Development of business case |
3 days |
Tue 3/27/18 |
Thu 3/29/18 |
|
Feasibility analysis |
5 days |
Fri 3/30/18 |
Thu 4/5/18 |
|
Establishment of project charter |
4 days |
Fri 4/6/18 |
Wed 4/11/18 |
|
Appointment of project team members |
5 days |
Fri 4/6/18 |
Thu 4/12/18 |
|
Reviewing initiation phase of the project |
3 days |
Thu 4/12/18 |
Mon 4/16/18 |
|
Milestone 1: Completion of project initiation phase |
0 days |
Thu 4/12/18 |
Thu 4/12/18 |
|
Project planning phase |
22 days |
Tue 4/17/18 |
Wed 5/16/18 |
|
Creation of project plan |
6 days |
Tue 4/17/18 |
Tue 4/24/18 |
|
development of project resource plan |
7 days |
Wed 4/25/18 |
Thu 5/3/18 |
|
Creation of financial plan |
8 days |
Wed 4/25/18 |
Fri 5/4/18 |
|
Testing quality |
9 days |
Fri 5/4/18 |
Wed 5/16/18 |
|
Development of acceptance plan |
7 days |
Mon 5/7/18 |
Tue 5/15/18 |
|
Milestone 2: Completion of planning phase |
0 days |
Fri 5/4/18 |
Fri 5/4/18 |
|
Project execution phase |
41 days |
Wed 5/16/18 |
Wed 7/11/18 |
|
Agreement from different participants |
13 days |
Wed 5/16/18 |
Fri 6/1/18 |
|
Settlement of external issues |
12 days |
Wed 5/16/18 |
Thu 5/31/18 |
|
Creating agreement as well as finance for the project |
14 days |
Mon 6/4/18 |
Thu 6/21/18 |
|
Preparatory work completion |
13 days |
Mon 6/4/18 |
Wed 6/20/18 |
|
Strategies that stops leakage |
10 days |
Fri 6/1/18 |
Thu 6/14/18 |
|
Development of strategies that resolves issues |
12 days |
Fri 6/1/18 |
Mon 6/18/18 |
|
Adjustment of activities |
12 days |
Fri 6/22/18 |
Mon 7/9/18 |
|
Completion of whole repair |
14 days |
Fri 6/22/18 |
Wed 7/11/18 |
|
Activity adjustment |
10 days |
Thu 6/21/18 |
Wed 7/4/18 |
|
Repair risk completion |
14 days |
Fri 6/15/18 |
Wed 7/4/18 |
|
Analysis of completed work |
11 days |
Tue 6/19/18 |
Tue 7/3/18 |
|
Closure of various types of issues |
17 days |
Tue 6/19/18 |
Wed 7/11/18 |
|
Milestone 3: Completion of execution phase |
0 days |
Mon 7/9/18 |
Mon 7/9/18 |
|
Project closure phase |
4 days |
Thu 7/12/18 |
Tue 7/17/18 |
|
Completion of gas storage construction |
2 days |
Thu 7/12/18 |
Fri 7/13/18 |
|
Financial reporting |
2 days |
Mon 7/16/18 |
Tue 7/17/18 |
|
Post project review |
1 day |
Mon 7/16/18 |
Mon 7/16/18 |
|
Milestone 4: Completion of project closure phase |
1 day |
Mon 7/16/18 |
Mon 7/16/18 |
It is identified that in this project, agile project methodology will be mainly used as this project methodology helps in breaking down the entire project into number of manageable as well as smaller project activities which are mainly not present for re-ordering, however the activities can be easily managed and tracked. The agile methodology generally helps in managing time of the project and therefore frequent reviews on improvement of financial budget is reference to profitability as well as productivity is provided on a regular basis. It generally helps in improving the project on a continuous basis by encouraging the various project team members so that they can be able to properly team up and provide proper effort in managing the project tasks faster as well as in a very much efficient manner.
The advantages of various tools and techniques that are generally used in order to design as well as organize the activities of the project are illustrated below:
Cost: The cost that is generally needed for completing each of the project activities can be showcased with the help of schedule. It also helps in providing a clear idea about the project that is needed for completing the project.
Tracking: The schedule of the project helps in providing the opportunity of tracking the activities of the project on a regular basis.
Provide appropriate project idea: The project scheduling generally assists in providing a proper overview about the different activities as well as tasks that are generally needed in order to complete the repairing of Australian storage tank.
Comparison between waterfall and agile methodology
|
Agile methodology |
Waterfall methodology |
|
It is identified that agile methodology mainly reflects on time management and thus it generally focusses on frequent review of time that is needed by the project activities in context to profitability and productivity in order to make sure that the project time will not exceed. |
It is found that waterfall methodology does not reflects on the management of project time but is generally helps in preventing number of project related compatibility issues. |
|
The workers of the project are mainly encouraged in order to improve the project on a continuous basis. |
The waterfall methodology mainly helps in allowing the project team for focusing on various aspect of the project in order to allow the developers to make sure that proper quality is maintained within the project development stage. |
Comparison of scheduling and work breakdown structure
|
Schedule |
Work breakdown structure |
|
The project managers gets proper opportunity of tracking the activities of the project with the help of the project schedule. |
Work breakdown structure mainly helps in organizing the entire work of the team into number of manageable actions |
|
The cost that is needed in order to execute each of the activities of the project can be reflected with the help of the scheduling technique. |
It is found as the groundwork for developing proper budget plan for the project. |
The resources that are mainly needed for completing the project are as follows:
Financial resources: It is identified that budget of around $83,000 is needed in order to complete the repairing of the storage tank properly.
Human resources: The people who mainly involved in project are listed in the table below:
|
Resource Name |
Type |
Material Label |
Initials |
Group |
Max. Units |
Std. Rate |
Ovt. Rate |
Cost/Use |
Accrue At |
Base Calendar |
|
Project manager |
Work |
100% |
$50.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|||
|
Supervisor |
Work |
S |
100% |
$40.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
||
|
Contractor |
Work |
C |
100% |
$40.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
||
|
Business analyst |
Work |
B |
100% |
$30.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
||
|
Project planner |
Work |
P |
100% |
$35.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
||
|
Site planner |
Work |
S |
100% |
$30.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
Material resources: The materials that are generally required for repairing the Australian storage tank are illustrated below:
|
Task Name |
Duration |
Start |
Finish |
Resource Names |
|
Repairing Australian Storage facility |
81 days |
Tue 3/27/18 |
Tue 7/17/18 |
|
|
Initiation phase of the project |
15 days |
Tue 3/27/18 |
Mon 4/16/18 |
|
|
Development of business case |
3 days |
Tue 3/27/18 |
Thu 3/29/18 |
Project planner |
|
Feasibility analysis |
5 days |
Fri 3/30/18 |
Thu 4/5/18 |
Project manager |
|
Establishment of project charter |
4 days |
Fri 4/6/18 |
Wed 4/11/18 |
Project manager |
|
Appointment of project team members |
5 days |
Fri 4/6/18 |
Thu 4/12/18 |
Site planner |
|
Reviewing initiation phase of the project |
3 days |
Thu 4/12/18 |
Mon 4/16/18 |
Site planner |
|
Project planning phase |
22 days |
Tue 4/17/18 |
Wed 5/16/18 |
|
|
Creation of project plan |
6 days |
Tue 4/17/18 |
Tue 4/24/18 |
Project manager |
|
development of project resource plan |
7 days |
Wed 4/25/18 |
Thu 5/3/18 |
Project planner |
|
Creation of financial plan |
8 days |
Wed 4/25/18 |
Fri 5/4/18 |
Business analyst |
|
Testing quality |
9 days |
Fri 5/4/18 |
Wed 5/16/18 |
Project manager, Business analyst |
|
Development of acceptance plan |
7 days |
Mon 5/7/18 |
Tue 5/15/18 |
Project manager, Project planner |
|
Project execution phase |
41 days |
Wed 5/16/18 |
Wed 7/11/18 |
|
|
Agreement from different participants |
13 days |
Wed 5/16/18 |
Fri 6/1/18 |
Contractor |
|
Settlement of external issues |
12 days |
Wed 5/16/18 |
Thu 5/31/18 |
Supervisor |
|
Creating agreement as well as finance for the project |
14 days |
Mon 6/4/18 |
Thu 6/21/18 |
Contractor |
|
Preparatory work completion |
13 days |
Mon 6/4/18 |
Wed 6/20/18 |
Site planner |
|
Strategies that stops leakage |
10 days |
Fri 6/1/18 |
Thu 6/14/18 |
Supervisor |
|
Development of strategies that resolves issues |
12 days |
Fri 6/1/18 |
Mon 6/18/18 |
Site planner |
|
Adjustment of activities |
12 days |
Fri 6/22/18 |
Mon 7/9/18 |
Contractor |
|
Completion of whole repair |
14 days |
Fri 6/22/18 |
Wed 7/11/18 |
Site planner |
|
Activity adjustment |
10 days |
Thu 6/21/18 |
Wed 7/4/18 |
Project planner |
|
Repair risk completion |
14 days |
Fri 6/15/18 |
Wed 7/4/18 |
Contractor, Supervisor |
|
Analysis of completed work |
11 days |
Tue 6/19/18 |
Tue 7/3/18 |
Contractor, Supervisor |
|
Closure of various types of issues |
17 days |
Tue 6/19/18 |
Wed 7/11/18 |
Contractor, Site planner |
|
Project closure phase |
4 days |
Thu 7/12/18 |
Tue 7/17/18 |
|
|
Completion of gas storage construction |
2 days |
Thu 7/12/18 |
Fri 7/13/18 |
Project planner |
|
Financial reporting |
2 days |
Mon 7/16/18 |
Tue 7/17/18 |
Project manager |
|
Post project review |
1 day |
Mon 7/16/18 |
Mon 7/16/18 |
Project manager |
It is identified that analogous estimation tool as well as technique is mainly used in order to estimate the project resources. The technique is used in order to estimate the cost that is needed for repairing the tank. The technique that is utilized does not able to provide proper reliable estimation. The main benefit that is provided by this technique is that assists in lowering costs as well as helps in presenting the result of the project quite easily as well as quickly.
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