Project Evaluation And Reporting Essay, Research Paper
PROJECT EVALUATION AND REPORTING Project development problems are usually easiest to manage when all development factors are controlled by the project management. Many projects are dependent on external sources. The source of the equipment is reliant on a external vendor, the purchase of building supplies is from an external vendor, and the actual construction is awarded to a construction contractor. Late deliveries of equipment, building supplies, or the actual construction are all possible critical problems. All the components of the project must come together on schedule for the successful intergration of the work breakdown structure of the project. The project is highly dependent of the timely delivery of the equipment and the supplies into a facility ready for use. Each of these milestones must occur on schedule in order to begin intergration and building of the project. Delays in deliveries of any part of the project will lead to costly delays, possibly affecting the promises made to the customer. Key to the project functioning correctly is the quality of supply vendors and the compatibility of the contractors. Poor designs resulting from a poor requirements specification will result in poor quality of delivery from the contractors involved. Identifying the requirements of the construction project ahead of time allows a project manager to communicate and reinforce the quality requirements to the contractors. Additionally, consideration of the compatibility of the sub-contractors must occur as part of the critical problem definition. The project manager must recognize the project’s susceptibility to vendor related problems. The project manager can address and avoid potential problems in the formal contracts, and the building requirements specification. The project manager must plan to monitor all progress and check for issues relating to construction features, compatibility, schedule and cost. The identification of critical problems is the first step in preventing project overruns, and is important in the development of a successful project development and implementation plan.
Accurate estimation of a project’s phases is very important because each phase is dependent on certain task from the previous phase being complete. Slippage in even one task by just a day or two can endanger completing the project within schedule and cost targets. To begin the estimation process, the project team can decompose the project phases into small pieces. Then the team can estimate each individual piece. Furthermore, there is no substitute for experience when estimating project time and cost figures. The project team may gather the experience and knowledge of others by using the following methods. The project team can seek out and consult with individuals with experience in the various phases or in each piece of the construction project. Additionally, the project team can compare their building to past building projects. Also, the project team can consult with colleagues form other companies who have implemented similar types of building projects. The management of projects uses a logical framework, like the WBS model, which ensures a structured approach to planning and estimating a project. And their success will be a direct result of the team’s use of the WBS. The project termination will be handled by the title office, which is responsible for handling all closing cost, following up on the termination of the contract, and finale inspections.