Project Management Assessment 2: Project budget, schedule and resources Asif Ashraff - 18217042 Table of Contents Introduction 2 1. Budget of the project and explanation of the assumptions 2 2. Project Schedule for the Construction Project 5 3. Resources Required for the Project Activities 10 Conclusion 1 Bibliography 2 Introduction The construction project had been helpful for development and management of the operations of the building and construction. It is important for forming effective and smart operations and functions by the use of construction project management concepts and principles (Alzahrani and Emsley 2013). The principles of the construction industry had been supplemented for formation of more advanced and innovative set of operations. The following report had been helpful for forming the schedule, budget and milestone events for the development of the project operations in a construction case study. The construction case study is for development and construction of three tankers of unequal capacities and making a storage warehouse for the three tankers to be operated. The schedule, milestone events and the cost budget had been made for critical evaluation of the project operations in tanker construction industries. 1. Budget of the project and explanation of the assumptions List of operations Operators Estimated Expense Proposal of Idea of construction Project Manager $1,120.00 Making Project Charter Document Planner $1,600.00 Submitting it to sponsors and Government Planner $640.00 Getting prior approval of operations Project Manager $1,680.00 Analyzing the requirements of construction Engineers $3,360.00 Gathering Resources Project Manager $8,400.00 Making Project Plan Planner $3,200.00 Reviewing the plan Project Manager $1,120.00 Leveling of site Contractor $1,680.00 Cementing the site Contractor $2,240.00 Implementing plan for infrastructure Architects $1,080.00 Constructing the boundaries Workers $9,600.00 Making Walls and Roofs Workers $14,400.00 Analysis of the tankers specification Surveyors $960.00 Building tank Bottom Workers $4,800.00 Installing bottom plates Technicians $800.00 Shell Plates installation Technicians $1,200.00 Drainage piping Workers $6,720.00 Final Coating Supervisors $1,080.00 Tank Accessories Supervisors $720.00 Building Platforms and rails Contractor $1,400.00 Building Connection between 3 tanks Workers $3,840.00 making passage way Workers $2,880.00 Fire Safety implementation Technicians $800.00 Final testing of tanker Supervisors $360.00 Manager Approval Project Manager $560.00 Infrastructure passed by Government Government $0.00 New tanker is functional $0.00 Project is Closed $0.00 Total Cost $76,240.00 Table 1: Cost Estimation for the project (Source: Created by the author) Assumptions made in the project: The project had been made while considering the role played by the various human resources in the project. Each activity of the project would require the support and role of a human resource for the completion of the project activities. The various human resources needed for the project a and their standard rate for working per hour is listed below, Resource Name Std. Rate Project Manager $70.00/hr Planner $40.00/hr Budgeter $40.00/hr Engineers $60.00/hr Surveyors $40.00/hr Supervisors $45.00/hr Architects $45.00/hr Technicians $50.00/hr Workers $120.00/hr Contractor $35.00/hr Government $0.00/hr Table 2: List of resources for the project Some work assumptions in the project are, a. The resources of the project had been considered as working 8 hours a day b. Number of working days in a week is considered to be 5 (considering Saturday and Sunday fixed off) c. It makes a total of 40 hours a week for the working duration of the resources d. The standard rate had been considered in terms of the hierarchy of the project (project manager had been given the top most position e. There are six workers for the worker group and each of them would be provided $20.00/hr. 2. Project Schedule for the Construction Project Task Name Duration Start Finish Construction of Tankers 131 days Thu 6/1/17 Thu 11/30/17 Project Initialization 12 days Thu 6/1/17 Fri 6/16/17 Proposal of Idea of construction 2 days Thu 6/1/17 Fri 6/2/17 Making Project Charter Document 5 days Mon 6/5/17 Fri 6/9/17 Submitting it to sponsors and Government 2 days Mon 6/12/17 Tue 6/13/17 Getting prior approval of operations 3 days Wed 6/14/17 Fri 6/16/17 Project Planning 34 days Mon 6/19/17 Thu 8/3/17 Analyzing the requirements of construction 7 days Mon 6/19/17 Tue 6/27/17 Gathering Resources 15 days Wed 6/28/17 Tue 7/18/17 Making Project Plan 10 days Wed 7/19/17 Tue 8/1/17 Reviewing the plan 2 days Wed 8/2/17 Thu 8/3/17 Construction of Site 42 days Fri 8/4/17 Mon 10/2/17 Leveling of site 6 days Fri 8/4/17 Fri 8/11/17 Cementing the site 8 days Mon 8/14/17 Wed 8/23/17 Implementing plan for infrastructure 3 days Thu 8/24/17 Mon 8/28/17 Constructing the boundaries 10 days Tue 8/29/17 Mon 9/11/17 Making Walls and Roofs 15 days Tue 9/12/17 Mon 10/2/17 Construction of Tankers 39 days Tue 10/3/17 Fri 11/24/17 Analysis of the tankers specification 3 days Tue 10/3/17 Thu 10/5/17 Building tank Bottom 5 days Fri 10/6/17 Thu 10/12/17 Installing bottom plates 2 days Fri 10/13/17 Mon 10/16/17 Shell Plates installation 3 days Tue 10/17/17 Thu 10/19/17 Drainage piping 7 days Fri 10/20/17 Mon 10/30/17 Final Coating 3 days Tue 10/31/17 Thu 11/2/17 Tank Accessories 2 days Fri 11/3/17 Mon 11/6/17 Building Platforms and rails 5 days Tue 11/7/17 Mon 11/13/17 Building Connection between 3 tanks 4 days Tue 11/14/17 Fri 11/17/17 making passage way 3 days Mon 11/20/17 Wed 11/22/17 Fire Safety implementation 2 days Thu 11/23/17 Fri 11/24/17 Project Closure 4 days Mon 11/27/17 Thu 11/30/17 Final testing of tanker 1 day Mon 11/27/17 Mon 11/27/17 Manager Approval 1 day Tue 11/28/17 Tue 11/28/17 Infrastructure passed by Government 1 day Wed 11/29/17 Wed 11/29/17 New tanker is functional 1 day Thu 11/30/17 Thu 11/30/17 Project is Closed 0 days Thu 11/30/17 Thu 11/30/17 Table 3: Project Schedule for the Construction Project (Source: Created by the author in MS-Project) The project schedule Milestone events are, Task Name Finish Getting prior approval of operations Fri 6/16/17 Gathering Resources Tue 7/18/17 Constructing the boundaries Mon 9/11/17 Building tank Bottom Thu 10/12/17 Building Platforms and rails Mon 11/13/17 Final Coating Thu 11/2/17 making passage way Wed 11/22/17 Fire Safety implementation Fri 11/24/17 Final testing of tanker Mon 11/27/17 Infrastructure passed by Government Wed 11/29/17 New tanker is functional Thu 11/30/17 Table 4: Milestone for the Construction Project (Source: Created by the author in MS-Project) System Development Life Cycle for project: Using the concept of system development life cycle of software had implied the project activities. The phases of system development life cycle afre analysis, planning, implementation, and evaluation. The project of construction of tankers had been developed by using the similar life cycle (Budayan, Dikmen and Birgonul 2015). The first step if analysis of the requirements, followed by the planning phase. The plan is implemented and the outcome is monitored and evaluated. Figure 1: System Development Life Cycle or SDLC Phases (Source: Benefit of using SDLC for Project Operations: The approach for System Development Life Cycle would be helpful for implementing the operations of the construction project (Shen et al. 2015). The use of System Development Life Cycle had the following advantages for the Construction of Tanker Project, a. Systematic flow of activities b. Ease of reviewing each phase c. Tracing of the errors can be done easily d. Structured division of resources is possible Merits of using Ms-Project for Scheduling: The development of the project schedule would be helpful for forming the effective and smart development of the activities of construction project. The importance of forming the schedule lies on the fact that it helps in making the flow of operations of the project. The main benefit of using the Ms-Project for the development of the project schedule is in its functions. The Ms-Project works best for the final scheduling and development of the milestone event. The benefits of using Ms-Project are, One stop solution: The Ms-Project is helpful for the development of the project activities, schedule, and resources. The software is very efficient for listing the functions of the project and categorizing them for under one header. All the major activities of planning phase can be done in the Ms-Project itself. Subdivision of Main Activities: The Ms-Project provides the solution for the major operations of the activities. All the main activities of the construction project can be divided into subparts for making the objectives of the project clearer. The subdivisions are helpful for forming a creative model of operations in a phase manner. Timeline extension: The Gantt chart consists of the timeline of the project activities and it would help in evaluating the concept of the shift of activities of the project. The timeline provides extensive development of the project operations for distributing the operations of the project. Comparison with other tools for Project Scheduling: The major advantage of using Ms-Project for the project scheduling is that it is easily available in Microsoft office package consisting of other software like Word, PowerPoint, Excel, and Access. The ease of using the software is another reason behind the selection of Ms-Project for the project scheduling activities. It is highly efficient for the development of system defined objectives and tools for the project operation. The time phase budget, critical path, etc. can be easily done on the Ms-Project software. It is easy to use and Microsoft had released many tutorials for easing the operations and usages of Ms-Project. 3. Resources Required for the Project Activities The list of resources, their working duration and estimated cost is listed in the table below, Resource Name Work Cost Architects 24 hrs $1,080.00 Contractor 152 hrs $5,320.00 Engineers 56 hrs $3,360.00 Government 8 hrs $0.00 Planner 136 hrs $5,440.00 Project Manager 184 hrs $12,880.00 Supervisors 48 hrs $2,160.00 Surveyors 24 hrs $960.00 Technicians 56 hrs $2,800.00 Workers 352 hrs $42,240.00 Table 5: List of resources along with their working duration and expense estimated (Source: Created by the author) The list of resources that would be required for completing the overall project of constructing the tankers consist of Architects, Budgeter, Contractor, Engineers, Government, Planner, Project Manager, Supervisors, Surveyors, Technicians, and Workers. They had to work for 1,040 hrs and the total expense of the project is estimated to be about $76,240.00. Critical Path of the Project Operation Figure 2: Critical Path of operations for the construction project (Source: Created by author) Figure 3: WBS for Cost and Activity duration for project operation (Source: Created by author) The Critical path and the WBS cost and Hours had been shown for evaluation of the activities of the project in terms of the cost and scheduled operations. The diagram had shown the use of the individual resources of the project and the estimated cost expended in the operations. The development of the project schedule chart and critical path had been done using Ms-project and WBS Schedule pro. The benefits of using Ms-Project have been mentioned before that includes, a. One stop solution b. Subdivision of Main Activities c. Timeline extension d. Easily availability e. Highly efficient f. Presence of many tutorials The WBS provides the benefit of graphical representation of the activities of the project. It consists of many types of views of the project activities that can be managed and used for the development of the operations of the project. Conclusion It can be concluded from the report that the use of project management tools and options would be very helpful in developing the faster and easier operations of the organization and development of effective and efficient operations. It can be stated that the use of construction project management concepts and principles has been very important for forming effective and smart operations and functions. The principles of the construction industry had been supplemented for formation of more advanced and innovative set of operations. Bibliography Alzahrani, J.I. and Emsley, M.W., 2013. The impact of contractors’ attributes on construction project success: A post construction evaluation. International Journal of Project Management, 31(2), pp.313-322. Budayan, C., Dikmen, I. and Birgonul, M.T., 2015. 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