Project Execution Planning and Management - Free Samples to Students

Question: Discuss about the Project Execution Planning and Management. Answer: Introduction: Design of a Bid Build: This particular project holds three different phases such as designing phase, bidding phase and the building phase. In order to complete the project successfully it is necessary to maintain all three of these phases properly. At the very initiation phase the project designer should hire an architect who will help to design the plan of the project. For designing and bidding the project all the necessary steps are required to be maintained by the project designer. In order to complete the project successfully or without any kind of error it is necessary for the project architect to keep in continuous touch with the project owner. The project deliverable includes. The project could move further only after getting confirmation from the project owner. However, if the project owner does not give any such confirmation then, the project team members will not be able to continue the project. For taking up the project tender the project owner is required to take part in the bidding session. However, after the project contractor will be selected the documentation bid cannot be changes at all. For starting the work on the particular tender, all the contractors associated to the tender are needed to give proper permission. In order to produce an effective document it is very much necessary for the project contractor to make proper auction on the project. On the other hand, the project subcontractor takes relevant tender those are required to implement the project successfully. However, at the end of the project proper documentation is required to be done then, accurate working timelines is also required to be followed by the management authority of the business organization to generate expected project outcome. In order to complete the project successfully it is necessary to share every project art. For complete the project successfully it is necessary that all the bid documents are shared with the auction. For successful completion of the project, the project owner, contractors and the project architects are required to keep connected to the project properly. Even from the project start up to the end of the project they are required to work as a collaborative team. In order to complete the project the contractors and the sub contractors cannot be changed. With any out sided contractors the project details cannot be discussed. Even no such bidding can also be done with the other project contractors. With the help of this approach the project could be executed as a collaborative project. It also helps to build relationship between the project owners and the architects. In order to gain long term success from the project document it is necessary to consider partnership. While implementing the construction level design or planning of the project, it is very much necessary for the project owner to provide the project outcome. The best value that has been assigned for the project should be followed by the project owner. Not only this but also the project manager is needed to follow the lowest bidding based on their previous knowledge and skill. The project contractor should assign the project only based on the documentation. In order to gain effective success from the project, it is very much necessary for the project owners to consider every project components. For this particular project the components are as follows: Schedule for perfect delivery: After considering the project scope, it has been determined that, for successful implementation of the project proper schedule is needed to be developed. With the help of accurate schedule the work can be divided in smaller segment and it will reduce the work load from the project team members. The project schedule is divided in different segments such as project planning, project design. Not only this but also there are different bidding values will be rose in the project auction. Based on the project success criteria the lowest auction price is required to be selected by the management authority. Thus, adoption of lowest value is referred to as the most beneficial one. Innovation, creative design and project complexity: In order to reduce the project risks or project complexity, different new creative and innovative ideas are needed to be developed by the project manager to reduce the project complexity. Not only this but also for eliminating the risks project associated instruments and techniques are needed to be incorporated by the project manager. Initial risk assessment: During the implementation of the project different risks might occur. In the absolute preliminary phase, for developing the project proper risk evaluation approaches are needed to be implemented by the project manager. Not only this but also, the main primary objective of the construction project is to prepare and motivate the project workers to develop different approaches to mitigate the probable risks. During the project implementation of the project, this kind of risks might occur. Cost: Finance or commercial project budget is referred to as one of the most important aspect that is strictly required to be considered by the project owner before the official implementation of the project. Even a feasibility testing is also required to be made by the project manager, with the help of the feasibility study the project manager will be able to understand that whether the project is beneficial or not. Therefore, for successful completion of the project, total cost must be developed by the project manager. Experiences of the staffs and availability: Experiences of the consumers and competitors are the most helpful things to be considered by the contractors and project managers. The project owner must understand the project details and the other details of the project. It will help the project manager to evaluate the competition level. Through understanding the proper competition level the issues related to the project could be mitigated completely. Goals/ Criteria Criteria Weight Project Delivery Method Design-Bid Build Design-Build CM @ Risk Score Weighted Score Score Weighted Score Score Weighted Score Delivery of the schedule 14 8 112 9 126 10 140 Innovative construction 6 5 30 7 42 8 48 Design level complexity 19 3 57 8 152 9 171 Risk analysis 20 4 80 10 200 8 160 Owner experiences 12 8 96 10 120 5 60 Staff experiences 7 10 70 9 63 4 28 Contractor experiences 7 9 63 9 63 9 63 Cost 8 6 48 9 72 8 64 Control level 7 10 70 10 70 10 70 Total 100 626 908 804 Design-Bid Build, Design-Build and CM @ Risk are three different criteria selected criteria for the project delivery method. Based on the performance the scores are provided. However the column of criteria weighted Colum is fixed for three of the selected processes and the weighted score for the individual processes are generated from the product of criteria weight and score given based on their performance. The behavior and the experiences of the staffs play important role while developing the project. All the project workers available in the project must have proper experiences and idea regarding the project details. If available number of experts and staffs are present in the project implementation then, then there is a huge opportunity for the project owner to complete the project within estimated project budget and allotted time as well. Oversight level and control is also important. Before the implementation of the project the project owners are required to develop proper control on the project before its implementation. The Financial contract type This type of contract is done between the project owner and the project contractors. At the project planning phase, the risks are needed to be evaluated by the project manager and the total budget is negotiated among the project contractors and project team members. For designing the final project contract the project contractors are responsible. Through estimation of the labor cost and other specified cost the margin of benefit can be determined. Considering the compensation of the project cost the project fess are required to be developed. For every extreme and overloaded budget, the project contractors are responsible. The project manager should consider the price that has the lowest bidding. Goals/ Criteria Criteria Weight Financial Contract Type Lump sum contract Guaranteed Maximum Price Contract Cost plus Fixed Fee Contract Score Weighted Score Score Weighted Score Score Weighted Score Construction related fixed capital 15 9 135 9 135 10 150 project schedule 11 9 99 8 88 8 88 production increment 6 10 60 5 30 5 30 Bidding analysis 7 7 49 6 42 6 42 Risk 20 5 100 6 120 9 180 Design 17 6 102 6 102 10 170 Cost related with unforeseen risk 16 9 144 5 80 8 128 Quality 8 9 144 8 64 9 72 net amount 100 833 661 860 The weighted score is the product of score and the constant criteria weight. Based on the performances of the three selected criteria such as the Lump sum contract Guaranteed Maximum Price Contract and Cost plus Fixed Fee Contract the scores are provided. Fixed fee contract: This is another approach that is associated to the contractors and project budget. For evaluating the project budget as the minimal one, this particular approach is very much beneficial. It also helps to provide a margin to the project owner and project contractors as well. Both of the parties are needed to incur proper expense to implement the project. Procurement method The suppliers associated to the project are required to adopt proper bidding method. The competitive procurement technique helps to develop different reasonable and moral strategy to offer proper outcome to the providers. This permits every one of the contractual workers keen on the delicate to present their offer for the delicate. The proprietor additionally applies a similar hypothesis and applies a similar sort of process while choosing the bidder from the connected contractors. The motivation behind this strategy is to give an equivalent and reasonable practice which encourages the proprietor to hold the help of the temporary workers. Negotiation: In this technique of acquisition the proprietor picks a temporary worker who might help him with the agreement. The cost to be paid to the contractual worker is then talked about with the temporary worker. On the off chance that the temporary worker concurs with the citation then the delicate is endorsed. Else the contractual worker can arrange the cost of the venture remembering the hazard factors and the net revenue for the temporary worker. Best value: This particular method does not deal with the low bidding factors that is needed to be undertaken. However, the contractors are required to consider different expertises for developing the project. Goals/ Criteria Criteria Weight Procurement Method Competitiveness Negotiation Best Value Score Weighted Score Score Weighted Score Score Weighted Score Quality 14 9 126 5 70 3 42 Schedule 11 10 110 10 110 10 110 Cost 12 7 84 6 72 8 96 risk 9 9 81 9 81 7 63 Size of the project 10 8 80 3 30 7 70 Contractor's experiences 8 9 72 7 56 8 64 Public related accountability 8 3 24 8 64 4 32 Owner's decision 18 5 90 6 108 8 144 Contractor's expertise 10 10 100 7 49 9 90 total 100 767 640 711 From the score table it has been found that, the score for schedule, cost, owners decision, project size, cost and experiences of the contractors are higher for three of the components such as competitiveness, negotiation and best value than the others because, these are found to be better for the procurement method. However, based on the performance of the stakeholders and the role of other criteria these are scored as higher or lesser out of 10. The criteria score is same for all of the three components. 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