Project Budget: £46m For Students ✓ Solved

Project Budget fixed Project Budget: £46m (million) Students will

Students will need to determine how to allocate a fixed project budget of £46 million against the different activity project stages and primary activities, including requirements, design, build, testing, and procurement of equipment. The project must be delivered within a fixed timescale of three years, with all project stages and activities completed within this timeframe.

Key objectives and primary design requirements for the project include the following:

• The library will have a size of 7,400m².
• It will be seven storeys high.
• A double-height entrance space will address the streetscape.
• The library needs to house 154,000 physical books.
• It will provide 200 laptops for loan.
• There will be 530 new PCs available.
• 916 study spaces will be included.
• A café will be part of the library.
• A study hub will provide student advice and guidance.
• Each of the upper four floors will include silent study spaces.

The design should create a strong civic presence and gravitas while ensuring energy efficiency and sustainability. The building must connect to the adjacent Campus Centre and Business School at first-floor level, continuing an intricate network of linking bridge spaces throughout the campus.

The project requires the use of templates for diagrams, including a Work Breakdown Structure (WBS) presented in correct diagrammatic form that may be split over two slides. The WBS should be derived from the project objectives with emphasis on the major project components while ensuring adherence to design requirements. Each task must start with a verb and be numbered as per the diagram format.

Students must also complete an activity list related to the library project, detailing tasks without going too in-depth into construction while adhering to the listed objectives. The activity list must include the following:

• Activity Number
• Description
• Duration (Weeks/Days)
• Preceding Activity/Activities
• Early Start (ES)
• Early Finish (EF)
• Float

Additionally, a late start (LS) and late finish (LF) should be included using the description, duration, and preceding activities from the activity list above to create a network diagram that shows the critical path, slack, ES, EF, LS, and LF.

Finally, students need to identify all possible risks associated with the library project that are specific and not generic. A risk rating key (1=low) must be utilized, with a scale of 1-5, where 5 indicates the highest risk. For each identified risk, the following elements should be documented:

• Risk Description
• Probability (P)
• Impact (I)
• Risk Rating (P x I)
• Action/Countermeasure
• Responsibility
• Review Date
• Status/Review Comments

Paper For Above Instructions

The allocation of a £46 million budget for the construction of a new library presents a complex challenge that necessitates careful planning and management. In order to effectively allocate resources and ensure timely completion within a three-year timescale, the project must be divided into distinct stages: requirements gathering, design, build, testing, and procurement. Each of these stages will have specific activities that require budget consideration, timeline adherence, and resource allocation.

In terms of requirements, the project aims to create a library with a total area of 7,400 square meters, spread over seven levels. Key design features include a prominent double-height entrance intended to enhance the streetscape and serve as a visual focal point for the campus community. Furthermore, the library will accommodate 154,000 physical books, along with significant technological resources, such as 200 laptops available for loan and 530 PCs for student use. The project will include 916 designated study spaces, a café, and a study hub to offer student guidance, all designed to foster a conducive learning environment.

Given the objective of creating a library that maintains a strong civic presence, the design will incorporate sustainable practices and energy efficiency. This is aligned with current architectural trends emphasizing environmental responsibility. Additionally, connecting the library to the Campus Centre and Business School will create a seamless transitional experience for users of the campus, promoting accessibility and visual continuity.

The Work Breakdown Structure (WBS) should categorize these elements into major components for effective management. Tasks might be structured as follows:

1. Define project scope
2. Gather requirements
3. Develop design blueprint
4. Finalize design approval
5. Begin construction
6. Procure equipment and materials
7. Conduct testing of facilities
8. Open the library

Each task will be assigned a numerical ID, which corresponds with its position in the project timeline. The duration for each phase must be established through collaboration among project managers and stakeholders while also considering dependencies between activities, such as construction following the design process.

Moreover, an activity list for the library project can be created based on this WBS. Each entry in the activity list should clearly outline the duration of activities, any preceding activities, and timings (Early Start, Early Finish, Late Start, Late Finish) while also factoring in potential float time. Here's an example of how some entries could look:

This iterative process continues for all stages leading up to the eventual opening of the library. For robust project management, a network diagram must also be created to visualize the interdependencies of these tasks clearly, revealing critical paths and slack time.

Risk management is a vital component of successful project delivery. Identifying specific risks associated with the library project will help in proactive planning. Risks may include construction delays, budget overruns, supply chain disruptions for equipment, and potential changes in regulatory requirements regarding sustainable practices. Each risk should be evaluated, and the following format may be utilized:

Through comprehensive planning, resource allocation, risk evaluation, and continuous monitoring, the library project can be executed within the defined budget and timeline effectively. Engaging with stakeholders for feedback during various phases will also contribute to achieving the overall goals more transparently.

References

• Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
• Harvard Business Review. (2018). The Five Keys to Project Management Success. Harvard Business Publishing.
• Project Management Institute. (2020). A Guide to the Project Management Body of Knowledge (PMBOK Guide). PMI.
• Schmidt, C. (2016). Managing Project Risks. Routledge.
• Meredith, J. R., & Mantel, S. J. (2017). Project Management: A Managerial Approach. Wiley.
• Lock, D. (2018). Project Management. Gower Publishing Limited.
• PMI Risk Management Professional (PMI-RMP) Handbook. (2016). Project Management Institute.
• Andersen, E. S. (2018). Project Management: The Organizational Challenge. Cambridge University Press.
• Hillson, D. (2019). Practical Project Risk Management: The ATOM Methodology. Vivid Publishing.
• Gray, C. F., & Larson, E. W. (2020). Project Management: The Managerial Process. McGraw-Hill Education.