Project Management Defining Success Essay Example For Students

Project Management: Defining Success Essay Project Management: Shaping Success Contentss Executive Summary 2 The Components of Success 3 Failure Case Studies: 3.1 The Big Dig, Boston, USA 4 3.2 World Cup 2022, Qatar 6 3.3 Sydney Opera House 8 A Success Narrative: London Olympics, 2012 10 Common Failures and Comparison with Success 12 Decisions and Recommendations 13 Bibliography 14 15 Executive Summary The study focuses upon the components of undertaking success and provides cardinal recommendations to heighten the company’s policy manual and understanding. The components are: Timescale Cost Quality Health and Safety Bequest Case surveies analyzing undertakings which are established as being overly flawed in one or more country characteristic: The Boston ‘big dig’ , USA ( timescale, cost, quality, safety ) Katar 2022 World Cup ( safety, bequest, quality ) Sydney Opera House ( timescale, cost ) In contrast, the London 2012 Olympic undertaking is regarded as a major success. This expansive undertaking was delivered safely on clip, on budget and boasts a positive bequest. Failures common to the flawed undertakings are compared to the success of the Olympics. These company qualities constitute undertaking direction success: accomplishing ambitious public presentation marks developing partnerships Having a trained, integrated, experient and motivated work force puting value delivered over costs saved THE CONSTITUENTS OF SUCCESS Project direction is a continuously germinating subject. There is no aureate expression to guarantee perfect success ( Smith, 2008 ) . However, understanding gained through experience, investing in preparation and development of marks helps gain a undertaking every bit successfully as possible. The components of success may be identified as: Timescale. A successful company adheres to specify aims, plans efficaciously, anticipates jobs and delivers a undertaking to the client by an in agreement deadline. Finance. This is non merely about maintaining costs low and within a defined budget, but about presenting the best value. Waste should be minimised and labour efficiency maximised. Margins are traditionally low in the industry ( Egan, 1998 ) : a successful company does non simply survive but makes a good adequate net income to: Continue presenting the best value for clients and stakeholders Attract long term stockholders Invest in preparation, research and merchandise development. Be honest and realistic about budgets Quality. There should be no edifice defects and through value direction, client outlooks should non merely be met but exceeded. Through quality, a successful company retains and grows their client base and develops partnering agreements. Partnerships with major clients cut down cost and timescales ( Egan, 1998 ) . Health and Safety. A successful undertaking ensures a dearth of hurts and avoids human deaths. Bequest. A successful undertaking leaves an appropriate, permanent imprint in the undermentioned ways: Political – advancing substructure and industry betterment. Economic – bring forthing income for the country. Environmental – sustainability, adhering to low C building. Cultural – profiting all stakeholders. Technical – forcing the boundaries of accomplishment. Ideally wining on all degrees, undertakings may alternatively win in one or more country but fail overly in other countries. Three instances deemed overall failures are examined. FailureCASE STUDIES THE ‘BIG DIG’ , BOSTON, USA Figure 1 The Big Dig or Central Artery/Tunnel Project ( Geotimes, 2002 ) The ‘Big Dig’ , launched in 1991, was the most expensive building strategy in U.S. history designed to replace an out-of-date main road bing the economic system $ 500 m/year ( Silverman, 2015 ) . The undertaking was originally estimated at $ 2.6 billion due for completion in 1998 ( National Academy of Engineering, 2003 ) . However, holds pushed the undertaking completion day of the month to 2007 with cost overproductions of $ 12.2 billion ( Silverman, 2015 ) . There were legion grounds for the undertaking delays: Tunnel leaks caused by deficiency of due diligence Program holds due to legion alterations of the signature overseas telegram stayed span Change of direction and communicating issues Failure to pull off client and stakeholder engagement Challenges of set abouting building alongside day-to-day public usage Additionally, a calamity occurred when ceiling panels in a tunnel collapsed, doing a human death and ensuing in extended judicial proceeding for direction. Federal probe blamed unequal stuffs and the undertaking s intensifying budget ( LeBlanc, 2007 ) . The inordinate failures of the undertaking led to extended rating. Figure 2 shows the altering entire undertaking cost. Inflation contributed to a great extent about $ 6.5 billion. However, the true impact was hard to measure due to the dynamic interplay of range, agenda and building costs. Extenuation costs were inadequately quantified ( National Academy of Engineering, 2003 ) . Figure 2 Cost History and Scope Evolution, in 1000000s of dollars ( Data from Edwards, 2002 ) 2022 WORLD CUP, QATAR Figure 3 Stadium building site ( Bhatia, 2014 ) The 2022 World Cup in Qatar is another outstanding illustration of direction failure. It remains to be seen whether the undertaking will complete on clip and on budget, although the figure reported by Deloitte is an inordinate $ 200 billion USD ( Figure 4 ) ( Deloitte, 2013 ) . However, irrespective of concluding public presentation in these respects, the undertaking will be remembered as an dismaying failure in safe and responsible building. Reports have emerged exposing unethical ( and in some instances, illegal ) practises on the portion of contractors responsible for the assorted sites and developments. Stem Cell Research EssayTable 5.1: Comparison common failure subjects with success. Standard Failure Success Timescale Absence of planning, deficiency of communicating and unrealistic aspirations. Early-stage planning, integrated squads and realistic ends. Finance Lack of truth and honestness with the budget. Openness and transparence with the budget. Quality Substandard stuffs, undelivered value and inexperient contractors. Good quality of physique, value delivered to the client and stakeholders. Health and Safety Fatalities, hurts, no province concern over worker public assistance and development. Safety as a precedence, no human deaths, hurt rate good below industry norm. Bequest Litigation jobs, all stakeholders non profiting and negative economic impact. Re-usable installations, urban regeneration, cultural pride, good to community and economic additions. It is clear that a undertaking may be deemed a success if the above standards are achieved with the exclusion of lodging stiffly to an original budget. Ultimately, the British Government was right in passing more to wholly accomplish the other four standards. CONCLUSIONS AND RECOMMENDATIONS This study concludes that holding control and bid of the five countries outlined in subdivisions 2 and 5 constitutes success. If a undertaking is a proficient success but fails on other degrees, so it may be deemed an overall failure. Equally, salvaging money does non compare to success or presenting the best value for stakeholders and passing money does non vouch safety. The policy manual should therefore province that the company: Establishes and adheres to a system of clear public presentation marks. Leting rating of quality and public presentation. Pursues a civilization of set uping partnering relationships with clients offering repetition concern. Bettering efficiency. Decreasing the demand for tendering and contracts ( Egan, 1998 ) . Employs an incorporate, trained, safe and motivated work force. Sharing and pooling experience across subjects. Working together on legion undertakings. Avoiding human deaths and major hurts. Considers finance by value delivered instead than money saved. Exuding fiscal honestness and transparence. Bibliography Bolt, H. Haslam, R. Gibb, A. Waterson, P. , ( 2012 ) .Pre-conditioning for success.Loughborough: HSE, ( RR955 ) . Booth, R. , Pattison, P. 2014. Qatar World Cup bowl workers earn every bit small as 45p an hr . Bida: The Guardian. Available from: hypertext transfer protocol: //www.theguardian.com/global-development/2014/jul/29/qatar-world-cup-stadium-workers-earn-45p-hour Booth, R. , Pattison, P. 2014. Qatar World Cup: migrators wait a twelvemonth to be paid for edifice offices . Bida: The Guardian. Available from: hypertext transfer protocol: //www.theguardian.com/global-development/2014/jul/28/qatar-world-cup-migrants-not-paid-building-office Bust, P. ( 2011 ) .Learning bequest.Loughborough: Loughborough University, ( ODA 2011/269 ) . Deloitte, 2013.Insight into the Qatar building market and chances for existent estate developers.Middle East: Deloitte Corporate Finance Limited. Department of Culture, Media and Sport. ( 2010 ) .November London 2012 Olympic and Paralympic budget study published Anticipated concluding cost down ?29m.Gov Announcements Online. Available from: hypertext transfer protocol: //www.gov.uk/government/news/november-london-2012-olympic-and-paralympic-budget-report-published-anticipated-final-cost-down-29m 2 [ Accessed 25/02/2015 Department for Culture, Media and Sport, ( 2012 ) .London 2012 Olympic And Paralympic Games – Quarterly Report.London: DCMS DLA Piper, 2014.Migrant labor in the building sector in the province of Qatar.Katar: DLA Piper UK LLP Egan, J. , The Construction Task Force.Rethinking Construction.1998. . Available from: Uniform resource locatorhypertext transfer protocol: //www.constructingexcellence.org.uk/pdf/rethinking % 20construction/rethinking_construction_report.pdf . Egan, J. , The Strategic Forum for Construction.Accelerating Change.ISBN 1 898671 28 1. Rethinking Construction, Construction Industry Council. ENOCHLAU. ( 2006 )Sydney Opera House Sails. . Available from: hypertext transfer protocol: //en.wikipedia.org/wiki/File: Sydney_Opera_House_Sails.jpg # filehistory. Wikipedia. . Gibson, O. , Pattison, P. 2014. Death toll among Qatar’s 2022 World Cup workers revealed . Kathmandu: The Guardian. Available from: hypertext transfer protocol: //www.theguardian.com/world/2014/dec/23/qatar-nepal-workers-world-cup-2022-death-toll-doha IRVINE, J. ( 2013 )Why Sydney s Opera House was the universe s biggest planning catastrophe. . Available from: hypertext transfer protocol: //www.couriermail.com.au/news/why-sydneys-opera-house-was-the-worlds-biggest-planning-disaster/story-e6freon6-1226744769556. . LeBlanc, Steve. , 2007.On Dec. 31, It’s Official: Boston’s Big Dig Will Be Done . Available from: hypertext transfer protocol: //www.washingtonpost.com/wp-dyn/content/article/2007/12/25/AR2007122500600_3.html . MARTIN, C. G. O. ( 2012 )The Sidney Opera House building: A instance of undertaking direction failure. . 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