Breakthrough Technology Project Management

Question: Discuss about the Breakthrough Technology Project Management. Answer: Introduction: The given case study highlights a large multinational oil company with multiple storage facilities. The relevant and achievable goals are described as following: The first goal is to ensure that the first tank with capacity 1 million litres of unleaded is repaired. In order to achieve this, a subsidiary company is approached and their small tankers with lower capacity are taken for lease (Badiru and Osisanya 2016). By using this method, the tanker with capacity of 1 million litres of ULP could be used by the company form the alternative site, along with repair of the leaking tank. However, considering the challenges mentioned in the case study, small tankers that are reachable to the project site could be could be employed such that the highly flammable vapours venting from the tanks could be of lesser amount (Burke 2013). Though the time taken to fill the tanks up would be more than the usual time, yet, the workers can continue their work with protection masks. The progress management metrics that could measure the progress of the project are as follows: Schedule and effort variance: This metric is successful in measuring the performance of the project against signed baselines (Heagney 2016). The cost for executing the project is measured against the number of hours that the labours are working. Resource utilization: The Utilizations % = the Total effort spend by the resources/Total allocated resources. Thus, this is an important metric, and the progress of the project is measured (Kerzner 2013). Project objectives As mentioned in the case study, the objective of the project is to continue the works of the organization, along with focusing on the repair works of the oil tanks that are leaking (Lientz and Rea 2016). Tasks: The task is to take lease of some tankers of small capacity and transfer the ULP to the leased company and continue the work along with the repair of the tankers (Walker 2015). Resources: The resources needed to implement this project are labours, leased company, and alternative small tankers. Budget allocated: The budget allocated plays an essential role in defining the scope of the project. Potential challenges: The challenges in this case are the original site. The site is tapered triangular in shape and the longest sides are bounded by loading docks. Hence, when the tankers dock to deliver the fuels into the storage tankers, all other operations come to a halt (Walker 2015). Necessary changes: The necessary changes include changes in the process of working. Earlier the work would stop, however, in the new project the work continues with alternative methods of the fuel being delivered. Assumptions: In this project it has been assumed that there is scope of an alternative site where, the tank could be leased temporarily. The various stake holders include the internal as well as the external stakeholders. The internal stakeholders include the employees, the repairing labours, the project managers, the delivery mangers, and health and safety managers. The employees are an important stakeholder, since they would carry out the project successfully. The project managers need to take critical decisions regarding the project and choosing of alternative site. The delivery manager along with the project manager plays a key role in determining the scope of the project. The external stakeholders include the suppliers of the ULP and the contractors (Sears et al. 2015). They are also critical in determining the scope of the project, since the contractors and suppliers need to agree upon the conditions of delivering to an alternative site. The ULP suppliers need to be convinced that they supply the ULP at the tanks of the alternative site. Thus, most of the stakeholders are critical in determining the scope of the project. In order to make the project acceptable, the feasibility study of the proposal is to be determined in order to check where the proposed project is feasible, financially, technically and utilizing the available resources (Sears et al. 2015). In order to ensure the acceptance criteria, a risk analysis is to be done. The potential risks that might take place are determined using a risk assessment template. The ways to mitigate the potential risks is planned as an alternative project. Project development lifecycle The project development lifecycle is a conceptual model that is used to describe the various stages of any project, and the flow of work that would be conducted in the project. In the given case study, the build and fix model could be used. In this model, first the initial model is built, and then it is further developed. In the given case study, the ULP tanks need to be repaired along with continuation of the normal workflow (Lock 2014). The stages of the build and fix lifecycle developments are as follows: Build: The first stage of this model is to build. In the given case study, the repair work takes place in this phase while the oil is stored in tankers that are leased. The Anchors required for each of the tanks are fixed (Sears et al. 2015). Moreover, the replacements of the main valve of each of the tanks are done. As this phase goes on, the required repairs of tanks are done and the patches required are fixed. Modify and fix: Once the basic repairs are fixed, the regular operation is resumed. The additional repairs such as the cleaning and repainting of the outside of the tanks could be done in his phase (Sears et al. 2015). Since these operations does not require the seizure or work of the employees, neither the leasing of the alternative tanks are needed. Hence, in this phase the addition tasks are done, along with resumption of the normal activities (Walker 2015). Use: After the tanks are repaired, and the additional modify and fix stage has been fulfilled, the tanks are ready to be used as usual, with full operations being continued. Thus, using the mentioned lifecycle model the project could be put into action. However, before the project is deployed, the risk factors need to be considered (Walker 2015). The allocated budget needs to be fixed and the feasibility study is to be done, in order to start the project. Once the project is completed, it needs to be monitored. The elements that needs to be monitored includes the inputs such as the time, money, resources used, quality of work, technical performances against the outputs such as progress, cost efficiency, job start time, job completion deadline, design changes. The process of monitoring and reviewing is not just one at the end of the project. It might be conducted at a regular interval while the project is in progress. References Badiru, A.B. and Osisanya, S.O., 2016.Project management for the oil and gas industry: a world system approach. CRC Press. Burke, R., 2013. Project management: planning and control techniques.New Jersey, USA. Heagney, J., 2016.Fundamentals of project management. AMACOM Div American Mgmt Assn. Kerzner, H., 2013.Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Lientz, B. and Rea, K., 2016.Breakthrough technology project management. Routledge. Lock, M.D., 2014.The essentials of project management. Ashgate Publishing, Ltd.. Sears, S.K., Sears, G.A., Clough, R.H., Rounds, J.L. and Segner, R.O., 2015.Construction project management. John Wiley Sons. Walker, A., 2015.Project management in construction. John Wiley Sons.