Please help with this paper.
How to apply the principles of project management to a real project ( a Project that you know that has been completed in real life like; the Colorado Air Port etc...) ( This is Just trying to analyze an already finished Project using the Project Management principles).
Choose a project or endeavor that has recently been completed and that has been reported on in the media. But it may be easier if you choose a project that underwent difficulties because such projects will have had more coverage. For example, Boston's Big Dig or the Hurricane Katrina or Sandy recovery efforts are projects which much has been written about.
The steps are as follows:
1. To decide on a topic for this paper. Try to choose a topic that is as current as possible. However, the project or some major phase of it should be completed so that you can draw conclusions about. (this is just to analyze the already finished project according to the Project management principles)
2. You need to (research or know the scope of the project) like, its progression, its problems, and its outcome.
3. I need to Review the project management concepts presented in this course and discuss how at least 5 (but no more than 7) are illustrated successfully or unsuccessfully in this project. You need to Analyze what you think went wrong and how problems might have been avoided or corrected.
4. you need to Write to 15 pages (3000 to 3800 words) discussing the project and the project management concepts that you chose and refer to the following list of guidelines for more complete instructions.
● The paper must be 12 to 15 pages (3000 to 3800 words) long and should cover the topic already described.
● Follow accepted research approaches and citation format (APA).
● The paper should be well developed and convey your understanding of the readings and concepts.
● Your paper should be organized, coherent, and unified.
● Your paper should be free of spelling and grammatical errors.
The response addresses the query posted in 3527 words with APA references.
//Project management is one of the major requirements for the successful completion of the project within cost and time limits. It is essential to have a good knowledge of project management concepts and principles to analyze project successfulness or unsuccessfulness or to understand the problems. In particular, this discussion has provided knowledge about the application of principles of project management in a chosen project of 'Boston's Big Dig'."
Project management is essential for the successful completion of the project in an appropriate manner. Project management is required from the inception to completion stage that requires careful planning, co-ordination and control of the various activities involved in the project to produce a financially and functionally viable project. This paper will describe the Boston's Big Dig project and the difficulties that have been encountered while executing this project. In addition to this, certain project management concepts and principles are highlighted in this paper, which have proved to be successful in overcoming the problems in the project. Moreover, certain recommendations are also proposed for this project that will help to address the major problems in mega-project management. With reference to this case, analysis of the project management concepts will provide a detailed understanding of the issues confronted by the Big Dig's project team. Several loopholes are identified in the big infrastructure projects more specifically because of unforeseen technical and financial challenges and wrong implications of the project management concepts (Fewings, 2013).
About Boston's Big Dig Project
Boston's Central Artery/Tunnel Project, which is commonly referred to as Big Dig, is the most challenging highway project in the American history. Boston's deteriorating six-lane elevated Central Artery with an eight-to-ten lane underground highway and construction of two new bridges over the Charles River improved the mobility by reconnecting downtown Boston to the waterfront. The initiation phase of the project involved tunneling under Boston Harbor by incorporating immersed tube tunnel method (Board on Infrastructure and the Constructed Environment, Committee for Review of the Project Management Practices Employed on the Boston Central Artery/Tunnel, 2003). The prime purpose of this big infrastructure project is to reduce traffic congestion, but the project was confronted by massive design failure and cost overruns. There were massive complications in design and construction and the final cost that incurred was phenomenally high. An extensive study was undertaken to assess the environmental feasibility and risk assessment prior to the initiation of the project. The Big Dig project was initiated by Bechtel/Parsons Brinckerhoff, which is considered as one of the largest and most experienced teams in infrastructure design and construction sector. In this context, one of the major challenges confronted by the project team was the methods and techniques used to address the issues that emerged in the project design and drawings. Thus, in the field of project management this real life project depicts the engineering excellence and innovation in the most appropriate manner (Brenner et al., 2002).
Scope of the Project
//Above discussion has reflected about 'Boston Big Dig', the largest infrastructure project in the US to deal with the issue of high traffic. Now, the next section has presented more information on the project, such as scope and its progression."
Boston's Big Dig project is an example of innovation and persistence. There was horrific gridlock traffic on the roads of Boston (Brenner et al., 2002). Thus, the idea of constructing a tunnel under the city and its waterfront will resolve the transportation problems in the city in an effective manner. In this project, various innovative tools and programs have been incorporated to control the project activities and cost overruns. While, constructing an urban highway, cost and technical complexities emerged at a very frequent pace. Likewise, it is often not possible to gain a wider understanding of the subsurface conditions until the project is initiated. Therefore, Boston's Big Dig project is an influencing example as it can help other cities to lay importance to pedestrian, transit and street mobility. This project will provide wider understanding to other cities in maintaining highway access to the city center, which in turn will reduce the traffic congestion. In relation to its effect on the urban environment, Big Dig project has been considered as a successful construction project. This project has contributed significantly to the development benefits, which in turn have contributed to the economic development of the nation. With the execution of this project, the formerly underutilized land has been used in an appropriate manner. Furthermore, all the challenges and issues confronted while undergoing this project can prove to be beneficial for their project management teams as they will gain an effective understanding of addressing the issue of uncertain events and risks. This huge project undertaking has provided enhanced learning for the mega projects in terms of project integration and compliance with the massive regulatory requirements. Considering the scope and complexities of the Big Dig, this project would not have been managed in an appropriate manner without partnering. With the help of partnering, the root cause of the problems emerging in the project is easily identified. Partnering is now being extensively used in the government and construction entities across the globe. According to the partnership agreement, project-related risks are shared jointly among the partners. It has also been identified that the construction of Central Artery/Tunnel Project has established more than 45 parks and open spaces (Chandra & Ricci, 2001).
Furthermore, the partnership encourages innovation and continuous improvement, wherein new and improved technologies are used in the construction project in order to reduce operational expenses. With reference to Big Dig, project-related risks were shared among the contractors and owners that facilitate deep underwater connections, tunnel jacking and development of interfaces between the contractors. Through partnerships, Big Dig was able to improvise on quality and safety aspects, improving schedule ...
The response addresses the query posted about principles of project management to a project in 3527 words with APA References.
Key Principles of Financial Managements
You have recently been appointed as the senior management accountant in a large listed company, XYZ plc which has divisions in a number of countries and trades globally.
You have examined the financial management procedures of XYZ plc and have had discussions with the board of directors of the company. In doing so you have identified the following key areas which need to be addressed:
1. There is little understanding of the role and nature of financial management amongst the other directors and senior managers and you feel that this limits their ability to make sound decisions regarding shareholder wealth maximisation.
2. There appears to be no strategy behind the management of the sources of capital in the company and little understanding of the need to manage the cost of capital.
3. Large projects seem to be undertaken with little or no formal investment appraisal.
You are required to produce a report to the board of directors explaining the key principles and concepts in the above areas and discuss models and techniques by which the company may improve performance.
The report should include critical evaluation of the models and concepts proposed outlining their merits and limitations. You may incorporate logical assumptions with regard to the company and use numerical examples to illustrate the models and concepts that you propose to adopt.View Full Posting Details