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PROJECT COSTING

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PROJECT COSTING

PROJECT COSTING

Part 1 Executive summary

The report shades light on the overall risks and obstacles associated with the project and the risk management strategies that the Global manufacturing technology pvt ltd undertakes to mitigate the risks associated with the project. It also focuses on the preparation of cost estimation and time schedule within which the project can be completed. This report also contains an Appendix which summarizes the background research analyses of the projects. This report covers all the costs of the 3 projects separately and the time limit within which these projects can be completed. Since, these projects have different time limit and different construction locations; it may tend to take more time than expected. The Background research analyses of this report cover all the cost details, work location, starting and completing time of each project. It also focuses on the budget estimates of all the projects.

Part 2 Risk assessment summarizing the major risks of contracting the work

Starting a new business or expanding the existing business in a different sector is not an easy job. According toHealy and Williams(2017, p.147), a whole lot of obstacles and risks are associated with starting a new business project. Before starting a new business venture, the management need to identify all the risks that the company may encounter during the project and measures must be taken to overcome such risks. The task of developing a new business idea will challenge even the most experienced management team of any organization. In the following study, the management of Global manufacturing pvt ltd has identified three areas in which company can invest to expand the business.

Global manufacturing pvt ltd, being a financial sector company, is investing in Healthcare sector, which will create a completely new level of risks associated with management of these projects.Van den Nouwelantet al.(2015, p.143) has commended that the motive behind this task is to establish and expand the scope of the company in Healthcare sector, which is one of the most rapidly growing sector in Australia. The management has developed three projects in which investment will be made and these projects are:

(a)    Victorian comprehensive cancer Centre in Melbourne

(b)   Fiona Stanley hospital in Perth

(c)    The gold coast university hospital in Queensland  

Starting a business development project in Healthcare sector is a very risky and time-consuming process. There are number of risks in this task and these risks must be identified before starting the project. In the following study, discussion will be made on various risks associated with the task and measures to counter these risks will also be discussed. 

Part 5 Appendix summarizing the Background Research

It is very important for any company to investigate and make some background researches before engaging itself in any project. Initial research on the project helps in better understanding of all the aspects in project. It will also help in better understanding of the risks related to the project. In the following study, Global manufacturing technology pvt ltd is preparing a bid for three different projects in three different location in Australia. This requires a lot of background research and analyses of this research before starting contracting for the project.

 In the following study, discussion will be made on each of the project separately.

Victorian Comprehensive Cancer Centre:

Background:

The strategy behind this project was to provide a better products and services to the citizen of Victoria by expanding and improving the public infrastructure. The framework of this project is designed to use the designing, financing and building expertise of Global Manufacturing technology pvt ltd in public infrastructure to establish the company in Healthcare sector. The Victorian comprehensive cancer center (VCCC) has a project budget of around $1.1 billion. It is a world-class cancer treatment center which will provide best cancer treatment with the help of recognized leaders in cancer research, treatment, care, training and education.

Project Delivery System:

Grocon PCL JV managed the contract for the construction, leading construction companies in Australia. The project start date was April, 2011 and the completion date was May, 2016. The purpose was to provide world class treatment facilities in this center. It also provides a remarkable facility in prevention and detection of cancer. The vision of the project is to save the lives of the people suffering from this disease and create awareness among people regarding the prevention of cancer and patient care.  

Reference list

Chesbrough, H., Vanhaverbeke, W., and West, J. (Eds.). (2014). New frontiers in open innovation. Oup Oxford.

Franks, D. M., Davis, R., Bebbington, A. J., Ali, S. H., Kemp, D., and Scurrah, M. (2014). Conflict translates environmental and social risk into business costs. Proceedings of the National Academy of Sciences111(21), 7576-7581.

Healy, G., and Williams, P. (2017). Metaphor use in the political communication of major resource projects in Australia. Pacific Journalism Review23(1), 150. Healy, G., and Williams, P. (2017). Metaphor use in the political communication of major resource projects in Australia. Pacific Journalism Review23(1), 150.

van den Nouwelant, R., Davison, G., Gurran, N., Pinnegar, S., and Randolph, B. (2015). Delivering affordable housing through the planning system in urban renewal contexts: converging government roles in Queensland, South Australia and New South Wales. Australian Planner52(2), 77-89.

Infrastructure Planning and Delivery - Victorian Comprehensive Cancer Centre (VCCC). 2017. Infrastructure Planning and Delivery - Victorian Comprehensive Cancer Centre (VCCC). [ONLINE] Available at: http://www.capital.health.vic.gov.au/VCCC_project/. [Accessed 04 November 2017].



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