Table of Contents
Part A: Project Management Consultancy Report
1.1 Project Definition/Parameters and Risks.
1.1.1 Various iron triangle parameters in setting the Overall Project objectives.
1.1.2 Resources and estimated costs for the projects.
1.1.3 Potential risks for the project
1.1.4 Contingency plan.
1.2 Planning and costs.
1.2.1 Network diagram showing the critical path and planned duration of the project
1.2. 2 Gantt chart for the project
1.2.3 Resource histogram.
1.2.4 Projected gross profit for the contract
1.3 Managing progress and spending.
1.3.1 Planned progress vs. actual process.
1.3 .2 Identify the new completion date and comment on the outcome.
1.4 Earned Value Analysis and Acceleration.
ACWP, BCWP and BCWS values for every project task.
Estimation of completion costs.
Estimation of the completion date.
Acceleration options for the Directors to consider
Part B: Reflective analysis.
Challenges and problems faced in this module/project work.
Setting out goals for improvement
Part A: Project Management Consultancy Report
AIF is the technology consulting and product or software development organization with huge experiences in manufacturing, design, delivery, and commissioning of different Electronic or Technology projects. However, it is specializing in automation and new products for its different clients such as Bespoke Automation Factories. This company works as the large Consultancy Practice in the technology hub of the UK and as the product manufacturing company in Ireland (ROI) that manufactures or develops automation plants as well as Prefabricated Factories for the assembly on Client sites in Europe. The expertise of this company permits them to provide tailor-made clarifications which are highly competitive compared to the other companies in the marketplace.
Project margin is good which is provided innovative nature of a business but the customers need or want the effective as well as the competitive responses in the fast-changing world. AIF has acquired different key contracts to build or develop a new Automated Engineering Plant for the manufacturing clients including TMC PLC, depended on Germany that will deliver the Electronic Component parts to be designed the power saving products for installation in the Power Plants over the world.
TMC is the key supplier to several power companies and also for the governments around the world. By focusing on the risks and rewards, the contract is structured with the target price of about £58.5m. In addition, the target price is competitive as well as reflects the belief in which they have the ability to develop on delivery date and gain bonuses. The bid of AIF was relied on the conceptual design to set out the outputs according to the product attributes such as power saving and availability of the product. Moreover, AIF will be completed the design of the Power Saving Product from the outlining design set by TMC and the automated production line as the part of Contract and establish the installation of equipment in a new factory in Germany that they will construct and commission.
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1.1 Project Definition/Parameters and Risks
1.1.1 Various iron triangle parameters in setting the Overall Project objectives
Mavenlink (2018) said that “Project Life Cycle” consists of four major steps such as project initiation, project planning, project execution and project closure that are mainly focused by managers of a project to manage and complete the project effectively. In addition, Project Life Cycle provides the standard structure that helps the project managers to manage several tasks of a business project.
A project’s management system must define the scope, feasibility study, and purpose of a project to manage the project work properly (Mavenlink, 2018).
This proposed project includes the key objectives which are:
- To design and construct the new factory to fit automatic equipment;
- To design, develop and install manufacturing automatic equipment such as production line software;
- To design Power Saving Product such as control software.
Delivery of new and completed factories by providing the Power Saving Manufacturing and Automation Equipment should take place within 1st June 2020. TMC needs to begin the full production on 8th June 2020. The project must include some weekends where AIF must pay the liquidated damages about £50k for each day. In addition, the cost overrun will be 5% of the original contract value which must be shared by 50:50 bases. Similarly, if they can provide this project under its targeted cost then they will be allowed to retain 5% below the value of the contract and it will be shared by 50:50.
On the other hand, early delivery will attract a bonus of £50k each day without the weekends. However, a standard retention clause is also included in the contract. Moreover, the 10% value of the contract would be collected by TMC for the ten weeks after the module’s delivery and installation. If the operations team of TMC is detected by any type of problems or faults after completing the Automation Equipment in ten weeks, then extra costs charged for repairing the problems that would be deductible from the reserved funds………….