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Risk planning in construction projects
Briefly describe project management framework
Risk planning in construction projects
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1. Introduction The High Speed Two is a high speed rail that is of very high profile within the UK right now. The project is to update the current rails as well as gaining better punctuality of service, less crowded trains and an increase of business travellers as well as a reduction in carbon emissions. The project is designed to update the rail network between London and the North West of England initially with the intention of expanding further north. The reason for this report is to evaluate three variation requests made to the High Speed Two project. The three requests are, first, a variation to the original route to take in more of Oxfordshire, second is to add a station in Madeley and third is a change of supplier. After completing the evaluation of the changes, the report is going to be presented to a Change Committee. Each change is evaluated through the analysis of project management theories, such as change management theories, risk management theories and finally change control theories. Secondly the variations are appraised with looking at limitations and opportunities, through evaluating, scope, cost, scheduling and risks. Thirdly the impacts are evaluated with the topics safety, contractual, commercial and technical to establish procedures for the change to be able to happen. Finally the potential consequences and significances to the High Speed Two Ltd and to the public are discussed. 2. Change 1: Variation of Route The first proposed change is regarding the route of the High Speed two, and is a variation to the originally planned route to take in more of Oxfordshire. 2.1 Project Management Theory 2.1.1 Change Management Theory Project Management provides a powerful infrastructure to the process ... ... middle of paper ... ...rnational Journal of Project Management, 15(3), pp.141–149. PRESTON, J., 2009. The Case for High Speed Rail: A review of recent evidence. RAJENDRAN, S., CLARKE, B. and WHELAN, M.L., 2013. Contract Issues. pp.1–7. REASON, P. and BRADBURY, H. eds., 2001. Handbook of Action Research. RICHMAN, L., 2011. Improving Your Project Management Skills. ROSEWELL, B. and VENABLES, T., High Speed Rail, Transport Investment and Economic Impact. ROWLINSON, S., 2004. Construction Safety Management Systems, Routledge. WINCH, G.M., 2010. Managing Construction Projects. XIANG, P. et al., 2012. Construction Project Risk Management Based on the View of Asymmetric Information. Journal of Construction Engineering and Management, 138(11), pp.1303–1311. ZAND, D.E. and SORENSEN, R.E., 2008. Theory of Change and the Effective Use of Managennent Science. pp.1–15.
Rouda, R. H., & Kusy, M. E., Jr. (1996, May 4). MANAGING CHANGE WITH LARGE-SCALE, REAL-TIME INTERVENTIONS. Tappi Journal. Retrieved from http://alumnus.caltech.edu/~rouda/T5_LSRTOD.html
Kotter, J. P., & Schlesinger, L. A. (2008). Choosing strategies for change. Harvard Business Review, 86(7/8), 130-139.
Hughes, M 2006, 'Strategic change', in M Hughes (ed.), Change management: a critical perspective, Chartered Institute of Personnel and Development, London, pp. 52-63.
Picture a person who that is juggling doing several things at once; they are balancing a stick in one hand and another stick on their nose. Each stick has a plate on the top that they want to keep spinning without losing balance or dropping either. There is a lot going on in those actions including the exact timing of when to reach up and spin a plate, constant body movement to keep the sticks balanced as not to fall, and a continued push from the free hand to keep both plates spinning. This paradigm could be used to describe integration knowledge area of project management. Schwalbe (2014) defines project management as, “Coordinating all other project management knowledge areas throughout a project’s life-cycle. This integration ensures that all the elements of a project come together at the right
The book contains the most effective methods of completing a project within its budget, schedule, and the resource constraints. It briefly explains all the stage process of every major project goes through. From creating the plan to monitoring and evaluation, there is a lot for project managers and supervisors to learn.
Graetz, F., & Smith, A. C. T. (June 2010). Managing organizational change: A philosophies of change approach. Journal of Change Management 10(2), 135–154.
Project Management is quickly becoming a field of study and importance in the business world. A search on the Internet of the title “Project Management” yields hundreds or results including forums, training manuals and job openings for related positions. Project Management is a broad term referencing the necessary steps taken by management to ensure a product is feasible before and during implementation. According to Project Management Learning Objectives, the steps to achieve success in this area include: testing and measuring products, evaluating and managing the product cycle, comparing costs and benefits, measuring product worth, economic analysis, product analysis, teambuilding and leadership, and budgeting and cost control (Project Management Outline). Project Managers oversee many different areas of the business and are responsible for project success.
Your project has been chosen, and you have been selected as the Project Manager. Your employment now is to successfully deal with the project to fruition. For your project to be effective, you have to comprehend what precisely constitutes a project, and which criteria are used to figure out if a project is fruitful or not. I’ll tell you why should you use project management. Today 's much focused business environment strengths companies to make superb items at a lower expense and in a shorter span.
The projects in today’s world are given a lot of importance and it will continue to grow in the coming years. There are a lot of companies which do not have production, but all of them do have projects. There are a lot of books which have been published on which related to planning and managing the projects. The one of the most important one was published by the author Eli Goldratt in his book ‘Critical chain’. This book basically talks and shows how the application of theory of constraints in the field of project management. The novel is basically based on one of the MBA classes in America where a number of ideas are developed in discussions among the students and the lecturers. The lecturer is basically fighting for a tenure with the president of the university who expects a downturn in the executive MBA. The lecturer who teaches project management has a word with one the senior colleagues and project management was the right topic to teach. There were three students who were placed in the project management team of their company which manufactures electronic products. The students are enrolled in this MBA class along with other students, here they discover a new approach to project management which is known as the
Risk management is a major success key of project management in business world. With major budget overruns in parallel with significant delays, Sydney Opera House is a real example of poor risk management. Risk management requires effective planning, budgeting, and scheduling. First of all, the highest risks should be identified and evaluated in order to find methods to reduce their impact and exposure. Then, factors that cause risk should be addressed while factors that only correlate with the negative impact but do not affect it may be omitted. At this stage, interrelation between various risks should be accounted for to spot the core factors that should be treated in order to ensure effectively and stability of the project's functioning.
Project Methodology plays the vital role in completing the project faster by meeting the project requirements and amplifying the use of time and resources.
The topic of my group (group 4) was “How to totally float through your project for free” and the presentation was held by Roger Goodman who works for PMI NZ and Ernst & Young supply chain management with many years of working experience in many different countries such as Saudi Arabia and China.
The roles of project sponsor and project manager are both vital to the success of a project. Assuming these roles within a major corporation is a huge task and can takes the use of certain strategies to complete projects successfully. During most projects it is custom for the project manager to work closely with the project sponsor from start to finish. When each individual understands what their role in the project is, and the other’s role, they can then easily work together to ensure a smooth completion is successful. This paper will cover three strategies that a sponsor can use to help ensure project success, and also three strategies that a project manager can use to help ensure project success. I will describe how the strategies are used
Most organizations run their businesses by the use of projects. What is a project? How can it be defined? What is project management and why has project management become so significant in today’s modern business environment? The purpose of the paper is to consider the why, what, who, when and where today that project management has become so important. Attempt to consider the history of business and project management to find these answers.
The business organizations of all need their goals to measure the level of growth and successfulness. If the goals and objectives concrete have been completed successfully, it is brought about careful planning of available resources, by the organization and management. Project management is a whole range of work to reach many of the goals of the business organization. In order to or exceed the expectations of customers, to achieve some, this can be an extremely useful tool to use resources of people, time, and money.