Part C of the assessment allows the student to examine and analyse the challenges, stakeholders and financial aspects associated with the case study project (Here the case study Project refers to the case done in draft earlier). That is to say,
Note: I need two assignments separately. One for myself and another for my friend
In preparing for this component, particular attention should be paid to the article ‘Innovation in Megaprojects: System Integration at London Heathrow Terminal 5’ (Davies, Gann, & Douglas, 2009) and the six processes it calls out when examining challenges and the Indus Towers case study which highlights the complexity introduced when goal congruence amongst multi-stakeholder groups is sought. As a guide, Part C Final Report (and associated analysis of the case study) should address the following requirements in 2000 words.
Identification and Assessment of KeyChallenges
Funding Model and Financial Arrangements
In considering these requirements, always be mindful of, and reflect on, the findings and the lessons learnt from the case study and how they can be applied in your own personal development and professional career. Highlight any specific instances where your strengths and limitations as a project manager or manager have been identified.
PUBLIC PRIVATE PARTNERSHIP (PPP): CASE STUDY (DRAFT REPORT) ON PENINSULA LINK PROJECT
This report sheds light on the Peninsula link project, which was observed as an important project of the private-public partnership project of Australia. Through reviewing the raised challenges of the project process, this report is designed in as an effective phase of this project. With this initiative, opportunities and roles of leaders for improving this Peninsula Link project in the Australian region. Moreover, through reviewing different case studies, the stakeholder analysis is done that helps in incurring involvement of stakeholders towards this project. In this context, based on the level of involvement the existing tensions are analyzed in this report, which is essential to develop the further development of this project in an effective manner. Moreover, the funding requirement for this project is also reported in the study that helps in achieving the financial sustainability of this project in an advanced way. Enlightening the opportunities of specific instances the best practices of this project is developed in this report in an effective way.
Peninsula link can be considered as an effective mean of fast transportation, which is twenty-seven kilometers long, four-laned motorway road. Successful Completion of the project has established a connection between Frankston Freeway link in Carrum Downs and Mornington Peninsula of Mount Martha. Construction of the link is made upon a public-private partnership contract, which relies on the Southern Way Pty Ltd and various stakeholders. Ministry of Roads and ports on behalf of the state of Victoria launched the transportation plan for avoiding traffic congestion and development of a hassle-free motorway road. Various factors affecting economic, social and environmental aspects of the projects needs analysis depending on the complex management process associated with the project.
Peninsula link project was an important public-private partnership project (PPP) of the Australian government for linking freeway network of Melbourne. The stakeholders associated with this project faced challenges in designing phase of this project. In this context, one of the major challenges was related to the logistic operation associated with this project. For developing an effective logistic operation in this regards, 5000 drawings were prepared within a short 12 months period, which was a daunting task for the stakeholders of this project (Aurecon Group, 2013). For developing an effective logistic operational design total project designed by considering 110 individual packages.
Afterward, the teams associated with the delivery process were divided by assigning 7 packages for a specific team. Here the major challenge was to manage the progress of the project (Aurecon Group, 2013). In order to mitigate this challenge Abi group was the main responsible private vendor, which had worked with Linking Melbourne Authority.
From this project, one necessary lesson related to the project breakdown can be learned and this project has helped me to realize the main challenge associated with the designing process of a PPP.
The leaders involved in the Peninsula Link Project developed effective planning of the logistic operation and vendors functionalities by considering available period of this project (Parliament, 2019). Leaders of this project developed effective groups for monitoring and supervising the risk related to this project. Especially they focused on the logistic operation and contract management process related to this group (Parliament, 2019). For assigning 7 packages to each logistic vendors related to this project they considered the necessary resource management techniques as well as the ability of the vendor teams.
Leaders associated with this project formed groups according to a specific discipline and they reviewed the progress of the operation in a continuous manner (Aurecon Group, 2013). This helped to mitigate the challenges related to the logistics operation of the Peninsula Link project. Moreover, these kinds of leadership initiative also helped to rectify the errors associated with the contract binding process of this PPP project.
From the overview of this project, I have acknowledged the necessary supervision and monitoring process associated with the leadership of a PPP project. I have also acknowledged the necessary amendment related to the contract binding process associated with a PPP project.
The main opportunity related to improvement in the management of the Peninsula Link project was leadership initiatives in this regards helped to enhance the sustainability of this project by elevating the operational effectiveness of this project. Application of monitoring policy and supervising policies for mitigating these challenges helped to rectify errors in the logistic operation related to this project. Moreover, continuous motoring process helped to develop exclusive contingency planning related to the risk mitigation process. This can be considered as another major opportunity associated with the project management process which delineated by leaders for managing the key challenges regarding this project.
Development of an effective contingency planning by considering different risks can be considered as an essential factor related to the PPP project management process. Furthermore, leaders by developing effective planning of the project by considering specific phases of a project can help to elevate the sustainability of the project. This project has elevated my knowledge regarding different phases of project management and has provided me a guideline to develop effective contingency planning for risk mitigation process. This has helped to elevate my skill level in developing contingency planning associated with a PPP project, which is my weak section.
Peninsula Link Project was a large PPP project of Australian government where the key roles of different stakeholders and involvement were specified. The State of Victorian Government was the most important stakeholders associated with the project and was responsible for any change in operation associated with the project planning (Tenders, 2013). Moreover, the southern way was the supplier associated with this project. Linking Melbourne Authority was the responsible stakeholder associated with this project for providing necessary suggestion associated with the procurement process related to this project. Other internally and externally involved stakeholders of this project were Bilfinger Berger Project Investments, ANZ, Abigroup Contractor Ltd. and SKM Aurecon Design (Armarchitecture, 2013).
The Peninsula Link Project can be considered as a significant PPP project where the criteria of involvement of public-private partnership were very specific and thorough. The respective positions of each stakeholder were fixed for mitigating different challenges associated with this project (Westkon, 2019).
The overview of this project has helped me to realize the specific field of operation of different stakeholders in a PPP project, which can be considered as one of the major criteria for developing the sustainability of the project.
LMA authority was solely responsible for developing the procurement operation and for developing, the plan associated with the project logistics. In this regards, LMA authority specified the key challenges associated with the logistic operation and has developed proper project management planning by considering 110 packages (Aurecon Group, 2013). On the other hand, SKM and Aurecon Design were involved in a joint venture in the Peninsula Link Project. Lend Lease Infrastructure Services were involved for maintaining the road infrastructure. Beside this, Abigroup Contractor limited has designed the overall task force related to the Peninsula Link Project.
Involvement of different stakeholders in this project elevated the conflict level in this project, which can be considered as one of the major challenges associated with this project. The tensions related contract binding process was profound and this tension included conflicting issues in this project (Kerzner & Kerzner, 2017). Moreover, in the logistics operation, conflicting problems related to the managerial process of this project was significant.
Analysis of tensions of a PPP project is necessary for developing a proper conflict management planning. This project has helped me to elevate my skill level for developing succinct conflict management planning by considering the potential risks associated with the project.
The project management team associated with the Peninsula Link Project has developed planning of this project by considering necessary quality factors and factors related to the aesthetics of this project. This has helped to fulfill all the requirements of stakeholders in Peninsula Link Project (Worldhighways, 2019). However, in this project affected the biodiversity of the Peninsula Region by bisecting this side into the road corridor. This can be considered as one of the side effects of this project, which hampered the interest of external stakeholders associated with this project (RACV, 2018). However, the Victoria State Government planted the array of trees beside this road in order to provide proper compensation. Project management team associated with this project also developed proper contingency planning for managing project conflicts.
Stakeholder management can be considered as one of the essential attribute associated with a PPP project, which can help to retain all interest of stakeholders. This can help to solve different critical issues associated with a project (Mok, Shen & Yang, 2015). The stakeholder management planning of Peninsula Link Project was succinct and it helped to elevate the sustainability level of this project by mitigating conflicting issues of this project. The stakeholder management planning of Peninsula Link Project helped me to elevate my knowledge in this regards.
The venture capitalist financial arrangement and Crowdfunding model was included in the Peninsula Link Project. Venture Capitalist financial arrangement was included for managing funds related to different private vendors in this project (Whitehelm Capital., 2014). On the other hand, crowdfunding helped to manage the funding of a project in which different banks, as well as state government authorities such as ANZ, LMA and Victoria State Government, have participated.
The overall project of Peninsula Link was financially stable although risk associated with a delay for achieving the closer of the contract and crisis for global economic downfall was still presents (DTF, 2013). The sustainability of the project was affected by these critical financial issues. However, the project management team developed proper planning for mitigating the financial risk associated with this project (Parliament, 2019). For developing project sustainability further project management team has applied Time-Driven-Activity-Based-Costing in this regards for mitigating different financial risks related to this project.
For developing proper financial planning in the project of Peninsula Link, project management team considered contract-binding technique. However, one of the major issues in this regards was contract binding restricted the opportunities of different stakeholders (Parliament, 2019). This has included conflicts among stakeholders associated with this project. Moreover, the inclusion of stake based logistic operation has included complex financial analysis in this project as a trade-off issue related to this complexity hampered the interest of logistic vendors related to this project.
The estimation of financial trade-offs associated with a PPP project is essential since this can help to elevate the level of financial sustainability of the project. Application of complex financial tools in a critical PPP project needs to complete analysis of financial trade-offs since this can help to realize the financial mismatches (Caperchione et al. 2016). The Peninsula Link project has helped me to elevate my knowledge regarding different financial trade-offs regarding a PPP project. Furthermore different mitigation techniques associated with financial trade-off issues has helped me to recognize the critical success factors associated with a PPP project. The overall project helped me to recognize the application of different financial tools in a specific field. Moreover, I have realized the application of crowdfunding model and application of joint venture if a PPP project from the Peninsula Link project.
Leadership has been a crucial aspect of the construction process involved in the project and the use of various management tools has simplified the management process. Understanding the loopholes in the contract paper and immediate reformation by amendments can be a vital part, which helps avoid disorientation regarding financial and structural management of Peninsula Link Project (DTF, 2013). Time and Cost management are two most significant factors regarding project management in construction sector thus, using TDABC tool as a mean of managerial enhancement can improve outcomes of the project.
Risk management and reporting can be considered as the most effective tool for this project as consequences of the project reflected in the inconvenience faced by Government for destruction of natural resources (Westkon, 2019). Alternative plans for conserving the natural habitat of the area and construction of contingency plan as per reported risk can be considered as a major opportunity by the management for future avoidance of such mistakes. This has helped me to realize the necessity of financial planning and the process of development proper financial planning by considering trade-off issues.
Australian Government faced several different issues regarding the construction of the link road and inconvenience faced by the construction aggregates to a vast amount of challenges. Destruction of the natural resources upon the construction of the road faced several backlashes from the environmental activists. Severe complexities arose from the stakeholder management, which caused difficulties to the leaders regarding completion of the project within the given budget was solved by using conflict management policies.
Due to the huge financial expense involved in the construction, Australian Government faced immense pressure. Moreover, benefits offered from the project has changed the perspective of the locals, offered support regarding transportation, and enhanced quality of life. Strong leadership involved in the project appointed by the Government has been the most effective aspect for resolving stakeholder issues through contingency plan, escalating economic obstacles by crowd funding process and public grievance generated from environmental disruption.