Project Contract Management For Asset-Rich Organizations

Mandatory Readings

·         Smith Chapters 11 & 12;

·         Australian Contractors Association (ACA) Relationship Contracting;

Case Study

·         Enhanced instructions and grading criteria.

1.       Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

The effective planning and management of the project are important in order to fulfil the project requirements as per the contract of the project. Through the readings, I learned that it is important to develop the project plan so that the project can meet the demands stated by clients. The key areas include the effective management of the project team and making the team understand about the project objectives in an effective manner. The communication with the team members is important in order to deliver good quality of project. Portfolio management help in analysing the return on the project through organizing the data. The reading material helped me in establishing the understanding related to the application of the project contract conditions to the project team and the project processes.

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Mandatory Readings

·         Smith Chapters 11 & 12;

·         Australian Contractors Association (ACA) Relationship Contracting;

Case Study

·         Enhanced instructions and grading criteria.

2.       Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

There are many of the techniques and the tools that are used for the investigation of the project process so that the effective project plan can be developed, which can meet the project contract conditions. There are different types of plan such as quality plan, risk management plan, project schedule plan, and such other plans are developed with the help of using the tools that includes WBS, Gantt chart, risk register matrix and others.

The use of the tools in an effective manner is essential for meeting the conditions of the project contract (Haughey, 2018).

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Mandatory Readings

·         Smith Chapters 11 & 12;

·         Australian Contractors Association (ACA) Relationship Contracting;

Case Study

·         Enhanced instructions and grading criteria.

3.       Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

I learned through the reading material that policies, research and the information are helpful in the justification, developing contracts, tendering and in developing the selection criteria. The processes helps in conveying the right information to the project team and the conditions of the project contract can be effectively followed while delivering the project.

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Mandatory Readings

·         Smith Chapters 11 & 12;

·         Australian Contractors Association (ACA) Relationship Contracting;

Case Study

·         Enhanced instructions and grading criteria.

4.       Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

The effective strategies for the management of the activities of the project are important. It is essential to develop the quality and risk management plan so that the activities of the project can be accomplished and no such variations can be identified in the project quality. The effective communication plan can help in reducing the chances of the delay and consumption of the extra cost due to delay in the project delivery as per the project contract (Anderson & Merna, 2003). The reading material helped me in providing with the insights related to the management strategies in an effective manner.

PPMP20013 Unit Profile

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Have you any insights you can add from other units you have studies or readings you’ve made?

Mandatory Readings

·         Smith Chapters 11 & 12;

·         Australian Contractors Association (ACA) Relationship Contracting;

Case Study

·         Enhanced instructions and grading criteria.

5.       Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

The project can be accomplished successfully when there is cooperation and continuous communication between the project manager and the project team. The project manager is responsible for maintaining the flow of the information. It is important to support the team so that they meet the requirements of the project contract. I think that in order to maintain the professionalism, it is important to develop an effective communication plan and develop the environment of learning so that the team can work through learning the important skills and contributing in the project success (Rajkumar, 2010).

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