PROJECT MANAGEMENT CONSTRUCTION PROJECT.
Identify the critical path for the construction phase.
Re-present key data in Table 3 to show task durations using Eli Goldratt’s Critical Chain approach. Show also the safety buffer for the phase as a whole.
Determine how buffer time should be used either at key milestones within the construction phase or only at the end clearly stating the reasons for your choice.
Determine a basis for the provision of contingency within the cost plan (for example, adopting a flat rate for the entire project or risk-related rates for different elements or phases). Make a clear recommendation, stating your reasoning.
10 marks
Analyse this data and, using the PERT technique, assess the probability of the arena construction works being completed before the end of December 2023.
What conclusions do you make as a result of your findings?
10 marks
Calculate the estimated cost of the arena construction at completion.
Calculate the estimated total duration of the arena construction and identify the estimated completion date.
10 marks
Analyse this information with respect to the project plan you prepared in response to task one and prepare a “traffic light” progress report indicating the status of each task on the following basis:
What conclusions do you draw?
10 marks
