Project Management For Asset-Rich Organizations

Mandatory Readings

·         Smith Chapters 1 & 2;

·         Australia National Audit Office – Planning and Approving Projects

·         AS 4120-1994 Code of tendering;

Optional Readings

·         Locate your company internal Project Development Manuals (if it exists and available);

·         You can also study the Californian Government Department of Transportation Project Development Procedures;

·         Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

·         Brisbane Airport’s New Parallel Runway;

·         YouTube: Brisbane’s New Parallel Runway – Overview;

·         Brisbane Airport 2014 Approved Master Plan.

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

1.       Project defines the process of creating any new system, structure or the logical steps to modification of existing system. The level of complexity of the projects depends on the requirements of the project and the processes associated with the project. Each project follows a life cycle. At the beginning of the project life cycle the planning and setting objectives of the project is done (Snyder, 2014). The lifecycle finishes at the ending of the project. There are five phases of the project management. The project management defines the controlling of the execution of all steps involved in the project management. These principals of project management can be applied for the successful compilation of the projects like development of Brisbane Airport  Parallel Runway. There are certain terms such as risk management, opportunities and value management are associated with the project management. The risks are the uncertainties associated with the projects and opportunities defines the chances for the improvement the project can get .  Value management refers to the value process during the various phases  of the project management. The clear definition of the project process along with defining the risks and opportunities gives the logical structure along with the clear instructions for the successful compilation of the complex project.

Snyder, C. S. (2014). A guide to the project management body of knowledge: PMBOK (®) guide. Project Management Institute: Newtown Square, PA, USA.

Mandatory Readings

·         Smith Chapters 1 & 2;

·         Australia National Audit Office – Planning and Approving Projects

·         AS 4120-1994 Code of tendering;

Optional Readings

·         Locate your company internal Project Development Manuals (if it exists and available);

·         You can also study the Californian Government Department of Transportation Project Development Procedures;

·         Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

·         Brisbane Airport’s New Parallel Runway;

·         YouTube: Brisbane’s New Parallel Runway – Overview;

·         Brisbane Airport 2014 Approved Master Plan.

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.

2.       The primary objective of the project management tool is to help the project managers to execute the steps in the process life cycle efficiently. The project management tools refers to the PERT ,Gantt chart, WBS. PERT is known as Program Evaluation and Review technique (Hornstein, 2015). It helps to contribute in developing the project along with that it also contribute in developing the work break down structure. Gantt chart helps to show the phases of the task along with the timeline and the resource needed for compilation of each task. WBS denote to the Work Break Down structure, which defines  the total work divided into the different modules. The risk associated with each module is described in the WBS.

Hornstein, H. A. (2015). The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), 291-298.

Mandatory Readings

·         Smith Chapters 1 & 2;

·         Australia National Audit Office – Planning and Approving Projects

·         AS 4120-1994 Code of tendering;

Optional Readings

·         Locate your company internal Project Development Manuals (if it exists and available);

·         You can also study the Californian Government Department of Transportation Project Development Procedures;

·         Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

·         Brisbane Airport’s New Parallel Runway;

·         YouTube: Brisbane’s New Parallel Runway – Overview;

·         Brisbane Airport 2014 Approved Master Plan.

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.

3.There are certain  processes and the stages i the project management development. Five stages are involved in the project life cycle. They are project  initiation, project planning, project execution, project monitoring and control and closing of the project (Regan, Love & Smith,2016). The project initiation involves with the gathering the requirement of the project, project planning is involved with making the blue print of the execution of the project plan, monitoring and control involves with the observing the process of each stages of project management and the last stage is closing of the project.

Regan, M., Love, P., & Smith, J. (2016). Whole life costing of infrastructure investment: Economic and social infrastructure projects in Australia. In Transforming the Future of Infrastructure through Smarter Information-Proceedings of the International Conference on Smart Infrastructure and Construction, ICSIC (pp. 701-706).

Mandatory Readings

·         Smith Chapters 1 & 2;

·         Australia National Audit Office – Planning and Approving Projects

·         AS 4120-1994 Code of tendering;

Optional Readings

·         Locate your company internal Project Development Manuals (if it exists and available);

·         You can also study the Californian Government Department of Transportation Project Development Procedures;

·         Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

·         Brisbane Airport’s New Parallel Runway;

·         YouTube: Brisbane’s New Parallel Runway – Overview;

·         Brisbane Airport 2014 Approved Master Plan.

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.

4.There are various management policies and strategies can be taken in order to ensure the safety and quality of the service or process. Some of theses initiatives are-

Quality and audit: In this case, a checklist is prepared   and compilation of all tasks in the checklist will ensure the quality of the service.

Safety management programs can be taken into account in order to ensure that the processed service or product will deliver its purpose in an efficient manner with maintaining the certain safety rules and regulations.

Reporting: This is the most crucial task in managing safety and quality of the products and services (Chih & Zwikael,2015). The progress and status of the process are discussed among the stakeholders so that all of them can be aware of the process and can understand the opportunities and risks involves in the project.

Chih, Y. Y., & Zwikael, O. (2015). Project benefit management: A conceptual framework of target benefit formulation. International Journal of Project Management, 33(2), 352-362.

Mandatory Readings

·         Smith Chapters 1 & 2;

·         Australia National Audit Office – Planning and Approving Projects

·         AS 4120-1994 Code of tendering;

Optional Readings

·         Locate your company internal Project Development Manuals (if it exists and available);

·         You can also study the Californian Government Department of Transportation Project Development Procedures;

·         Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

·         Brisbane Airport’s New Parallel Runway;

·         YouTube: Brisbane’s New Parallel Runway – Overview;

·         Brisbane Airport 2014 Approved Master Plan.

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

  5.There are certain factors on which effective group process is dependent. These factors  are-

 Accountability and individual responsibility: Here, all the stakeholders and the team members of the project will agree on the way of doing a task (Hornstein,2015).

 Feedback: Giving and receiving feedback helps to evaluate the performance of the team as well as the individuals of the team. The acknowledgment of the good work can boost up the confidence of the team and motivate the team to do better work.

Defining the roles: The team leader should aware of his or her responsibility along with that the team leader should define the roles of individuals team members in the group. The clear definition of the role will help each of the member in the team to do the specified work effectively. This will lead to an effective team work.

Hornstein, H. A. (2015). The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), 291-298.