Project management in an organization is quite effective to enhance the performance of a project within the organization and to accomplish the project goals significantly. Project management includes the planning, organizing, managing, and securing the resources to accomplish the objectives of a specific project (Lock, 2007). This case study assignment help paper includes the project management in Bechtel Corporation that is a leading company in project management, engineering and construction. It has several projects at different locations that will be effective to determine the approaches of project management undertaken by the company (Bechtel Corporation, 2011).
Project Life Cycle
Project life cycle can be described as the logical sequences of the activities that are performed to accomplish the project objectives. Each project pass through the series or stage during its life regardless its complexity namely initiation, planning, execution and closure (Westland, 2007). Bechtel uses the project life cycle as the integrated process. This type of project life cycle of Bechtel includes the different steps of project life cycle with the inclusion of different objectives and aspects of the project (Project Life Cycle: Integrated Processes, 2011). The integration type of the project life cycle in Bechtel is quite effective to accomplish the project objectives efficiently by integrating all the process and stages with the project and business objectives. Following type of project life cycle is used by Bechtel Corporation –
Project drivers: This phase of project life cycle includes the preferences, requirements and goals of the owner.
Conceptual plans: It includes the feasibility study, risk estimation, gap assessment for material, labor and equipments.
Project baseline: This stage of life cycle includes the detailed design and the work breakdown schedule through the project estimation and project scope. This step also includes the master schedule and contract packages (Project Life Cycle: Integrated Processes, 2011).
Procurement contracts: This phase includes the procurement of the project requirements such as major equipments and other material. The sub-contracts and transportation & logistics facilities are also determined in this phase of the project life cycle of Bechtel that helps the effective execution of the project. The budget detail is also a part of this phase.
Execution drivers and control: This phase of project life cycle of Bechtel includes the cost monitoring, schedule monitoring and scope monitoring through the management and variance reporting. The corrective action plans are also taken by the management within this phase of project life cycle (Project Life Cycle: Integrated Processes, 2011).
Elements of Project Management
Bechtel Corporation applies different elements of the project management. These elements of the project management are also effective to relate the project management with other types of management. Following are some elements of project management that are used by Bechtel Corporation –
Time management: The time management element of the project management is applied within the Bechtel by project and schedule estimates at the planning stage of project. The schedule monitoring is also done in the execution and controlling stage.
Cost management: It also applies the cost management element of project management by cost estimate and cost monitoring. The management and variance reporting are effective to enhance the effectiveness of cost management (Project Life Cycle: Integrated Processes, 2011).
Risk management: At the initial stage of the project life cycle, the risk management element is applied by identification of risk and development of the mitigation strategies.
Contract/procurement management: This element of the project management is also applied in the planning phase of the project management. The procurement of require material, equipment, contracts with suppliers, sub-contracts are some activities that are performed in this element (Dobie, 2007).
Key Areas for Balance & Tradeoffs
Bechtel is a value-driven organization that mainly focuses over the balance and trade-offs between the ethical values and the business objectives. It also focuses over the safety, quality and sustainability of the organization. As per ASSIGNMENT HELP MELBOURNE experts, The main challenges that are faced by the organization in the construction industry are the avoiding corruption and facilitate transactional transparency with all the aspects of project. At the same time, issue of cost and timeline also affects the ethical and compliant operation of Bechtel in the project management that are required to balanced with the organizational objectives and its policy of ethical conducts (Zaccaria, 2009).
The other areas in which project manager faces for balance and trade-off is the cost and schedule of the project. The cost & time estimation and changing customer requirements is the major area for balancing and trade-offs. It is because; changes in the customers’ requirements increase the cost and time of the project that affect the overall effectiveness of the project. The balance between the project objectives and organizational objective is also required by the project managers in Bechtel.
Project Management & Organizational Strategy
The project management is quite effective to implement a strategy within the organization. The project management may fit with the organization’s strategy quite effectively as efforts of the project team to complete a task help to achieve the strategic goals of the organization (Snyder & Parth, 2006). The project management includes the proper communication system that is also effective to communicate each project member about the organizational strategic goals and objectives that will be effective to achieve them effectively. The project management also supports the design and execution of organizational strategies. It is because; the main objective of the organization’s strategy is to use the resources optimally and project management facilitating the effective utilization of resources due to its time and resource constraints that aligns with the organization’s strategy.
To fit the project management with the organization’s strategy, the strategy should provide boundaries to the project in terms of goals and objectives that will be effective top establish future direction for the project and to achieve the strategic objectives of the business (Koster, 2009). Through this way, project management fits with the organization’s strategy.
From the above discussion of project management assignment help, it can be concluded that project management plays an important role to achieve the organizational objectives properly. There are different elements and challenges that are applied in the business with the project management. The proper communication of goals and objectives with project management is essential to align it with the organizational strategies.
Bechtel Corporation. (2011). Retrieved February 17, 2011, from http://www.bechtel.com/overview.html
Dobie, C. (2007). A Handbook of Project Management: A Complete Guide for Beginners to Professionals. Australia: Allen & Unwin
Koster, K. (2009). International Project Management. London: SAGE Publications Ltd
Lock, D. (2007). Project Management (3rd ed.). England: Gower Publishing, Ltd.
Project Life Cycle: Integrated Processes. (2011). Retrieved February 17, 2011, from http://www.bechtel.com/assets/files/PDF/Power/Project%20Life%20Cycle.pdf
Snyder, C. & Parth, F. (2006). Introduction to IT Project Management. Management Concepts
Westland, J. (2007). The Project Management Life Cycle: a Complete Step-By-Step Methodology for Initiating, Planning, Executing & Closing a Project Successfully. UK: Kogan Page Publishers
Zaccaria, A. (2009). Ethics at All Cost. Retrieved February 17, 2011, from http://www.bechtel.com/assets/files/PDF/safety/AZ_ECOA_Speech.pdf