consolidated portfolio

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 1 & 2;

· Australia National Audit Office - Planning and Approving Projects

· AS 4120-1994 Code of tendering;

Optional Readings

· Locate your company internal Project Development Manuals (if it exists and available);

· You can also study the Californian Government Department of Transportation Project Development Procedures;

· Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

· Brisbane Airport's New Parallel Runway;

· YouTube: Brisbane's New Parallel Runway – Overview;

· Brisbane Airport 2014 Approved Master Plan.

1. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

From this study, I have learnt about the importance of project, portfolio and program management and how these can be applied in asset rich business organizations. The process of project management helps business organizations to achieve their organizational goals and objectives. With the use of project management process, I will be able to manage complex projects while I am working as a professional. I would utilize organizational assets in effective way so that good quality project is delivered to clients. By studying program management, I have learnt how to manage interdependent or interrelated projects in a group in order to meet desirable organizational objectives. With the use of portfolio management, the centralized management of asset rich organizations can easily identify, authorize and prioritize programs and projects.The knowledge of these management processes will help me to coordinate projects within organization with better communication and fewer conflicts.

· Heiskanen, A. (2012). Project Portfolio Management. ISACA JOURNAL, [online] 3. Available at: https://www.isaca.org/Journal/archives/2012/Volume-3/Documents/12v3-Project-Portfolio-Management.pdf [Accessed 29 Mar. 2018].

· Munns, A. and Bjeirmi, B. (2018). The role of project management in achieving project success. International Journal of Project Management, [online] 14(2). Available at: https://pdfs.semanticscholar.org/1dc0/869c0fb6f52b23da12aa7922be43296e0b06.pdf [Accessed 29 Mar. 2018].

Mandatory Readings

· Smith Chapters 1 & 2;

· Australia National Audit Office - Planning and Approving Projects

· AS 4120-1994 Code of tendering;

Optional Readings

· Locate your company internal Project Development Manuals (if it exists and available);

· You can also study the Californian Government Department of Transportation Project Development Procedures;

· Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

· Brisbane Airport's New Parallel Runway;

· YouTube: Brisbane's New Parallel Runway – Overview;

· Brisbane Airport 2014 Approved Master Plan.

2. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

From this study, I have learnt about various project investigating tools and techniques along with asset life cycle. From the concept of asset life cycle, I have learnt about it helps in business of organizations using effective management of valuable assets. By implementing this cycle in daily life, I would manage my personal assets in better way. I have study various project investigation techniques like SWOT analysis, RACI, Stakeholder matrix, Cause and Effect Diagram and Risk map which helps me to understand the environment of project management in effective way. With the knowledge of these techniques, I can manage new facilities, processes of organization in easier way. I have learnt how new facilities, processes, plants and equipment’s can be designed, developed and maintained within asset and technological life status.

· Prabhakar, G. (2008). Projects and Their Management: A Literature Review. International Journal of Business and Management. [online] Available at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.663.4000&rep=rep1&type=pdf [Accessed 29 Mar. 2018].

Mandatory Readings

· Smith Chapters 1 & 2;

· Australia National Audit Office - Planning and Approving Projects

· AS 4120-1994 Code of tendering;

Optional Readings

· Locate your company internal Project Development Manuals (if it exists and available);

· You can also study the Californian Government Department of Transportation Project Development Procedures;

· Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

· Brisbane Airport's New Parallel Runway;

· YouTube: Brisbane's New Parallel Runway – Overview;

· Brisbane Airport 2014 Approved Master Plan.

3. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

I have learnt about the process of tender and contract selection from this study. This study helped me to understand the importance of tender and contract within an organization. I have studied contract process which includes contract selection, collection of essential information, selection of negotiator, reviewing contract and contract signing. I have learnt how good contract selection helps to fix resource cost and limit obligations within organization. The use of contracts helps to protect both parties i.e. an organization and client. I have learnt about the importance of tendering in the field of business organizations which is a formal procedure through which suppliers can easily submit their sealed bid in order to supply services to customers. From this study, I have learnt the need for maintaining balance between administrative time and contract value using tendering. This study helps me to clear my views regarding policies of contract and tendering. Now, I can easily explain these concepts to others with more confidence.

· Wainwright, D. and Sambrook, S. (2018). The role of the organisation in managing the psychological contract: what local policies say to practitioners. [ebook] Available at: http://www.download.bham.ac.uk/hsmc/delia-wainwright.pdf [Accessed 29 Mar. 2018].

Mandatory Readings

· Smith Chapters 1 & 2;

· Australia National Audit Office - Planning and Approving Projects

· AS 4120-1994 Code of tendering;

Optional Readings

· Locate your company internal Project Development Manuals (if it exists and available);

· You can also study the Californian Government Department of Transportation Project Development Procedures;

· Download and study the Engineers Australia Infrastructure Report Card for your State;

Case Study

· Brisbane Airport's New Parallel Runway;

· YouTube: Brisbane's New Parallel Runway – Overview;

· Brisbane Airport 2014 Approved Master Plan.

4. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

I have learnt about operational activities and management strategies while doing this study. I have learnt new concept of strategic management which is very important for business organizations as it helps to provide an effective direction to enterprises in which the top management can easily define objectives, plans and policies in order to achieve all organizational goals. I have learnt hoe operation strategies and strategy management is used by business enterprises to make effective decisions. If I implement strategy management in both my personal and professional life, then I will manage my workload in effective way without any stress. The safety, expenses overruns, quality and rework can be managed in organizations with the use of effective strategies. I have learnt how organizations are making decisions whether to close, continue or discontinue the project using management strategies. While studying this concept, I have understood how business performance is effecting with use of management strategies.

Rastislav,, R. and Silvia, L. (2018). Strategic Management of Business Performance Based on Innovations and Information Support in Specific Conditions of Slovakia. Journal of Competitiveness, [online] 7(1). Available at: http://www.cjournal.cz/files/182.pdf [Accessed 29 Mar. 2018].

Mandatory Readings

5. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

· I have learnt how professional level of communication and teamwork is supporting in collaborative learning. Basically I have learnt why teamwork and communication is very essential part of organizations. This study helped me to understand the benefits of team work in organization such as improve business efficiency, new generation of ideas, knowledge sharing and effective communication. I have learnt that communication and teamwork is interlinked with each other. In my personal life, I am also believing in the strength of effective communication and it helps me to catch other’s attention and work effectively in team. In professional life, I will make good relations with my colleagues by adopting good professional skills. I have learnt how teamwork and communication supports group learning.

Suter, E., Arndt, J., Arthur, N., Parboosingh, J., Taylor, E. and Deutschlander, S. (2009). Role understanding and effective communication as core competencies for collaborative practice. Journal of Interprofessional Care, [online] 23(1), pp.41-51. Available at: https://pdfs.semanticscholar.org/fb0e/c9c089200798016bdeebe5dbe1d9178578e8.pdf [Accessed 29 Mar. 2018].

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 3, 4&5;

Optional Readings

· Australia National Audit Office Developing and Managing Contracts - Getting the right outcome, achieving value for money;

· HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract.

· Australian Commonwealth Government Procurement Rules

· Victorian Government Procurement Rules

· WA Government Procurement Rules

· NSW Government Procurement Rules

· QLD Government Procurement Transformation;

Case Study

· Brisbane Airport's New Parallel Runway – Climate Change;

· BNE Airports EIS/MDP - Approvals.

6. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

During my study, I learntprocess management and program management which is beneficial for asset rich business. The role and responsibilities of each team member are examined with the use of process management. By reading program management process, I learnt how to settle the goals and activities for better performance and controlling the execution of activities in an organized manner. By using program management processes, the performance and management the processes related to the organizations is done in an effective manner as it easily transforms the systems of organization. By studying portfolio management, selection of right investment toolin proper proportion is done. I learned that, right measurementsand selection helps to generate optimum returns for asset rich organization. By reading all these management plans, I learned that how the performance of business and risks faced are easily managed by taking right decisions at right time.As, Australian common wealth government is also using these management processes to improve their business performance.

Nagano, S. (2008). Space systems verification program and management process. Systems Engineering, 11(1), pp.27-38.

Statman, M. (2014). Behavioral Finance:Peter Bernstein and The Journal of Portfolio Management. The Journal of Portfolio Management, p.140913001535001.

Mandatory Readings

· Smith Chapters 3, 4&5;

Optional Readings

· Australia National Audit Office Developing and Managing Contracts - Getting the right outcome, achieving value for money;

· HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract.

· Australian Commonwealth Government Procurement Rules

· Victorian Government Procurement Rules

· WA Government Procurement Rules

· NSW Government Procurement Rules

· QLD Government Procurement Transformation;

Case Study

· Brisbane Airport's New Parallel Runway – Climate Change;

· BNE Airports EIS/MDP - Approvals.

7. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

From this study, I learnt how tools and techniques are important for future development of organization.With the use of all these technologies and techniques, I learnt how the asset rich organizations can define, develop and identify the value and usefulness of managing the project. By using new tools and techniques, I observed that Australian National Audit office also develops and manage their contracts for getting better outcomes and achieving valuable money. By learning life cycle asset management, all the process that are performed by the organization are designed, developed and justified. I also learned that with the development of new workings, processes, equipment’s and facilities, organization easily optimizes the data and make the decisions for improving their business strategies. Context related to the technological equipment is also learned for the betterment of business processes.

Peijnenburg, K. (2011). Life-Cycle Asset Allocation with Ambiguity Aversion and Learning. SSRN Electronic Journal.

Borawska, A. (2017).

Cognitive Neuroscience Tools in Economic Experiments Investigating the Decision Making Process. Folia Oeconomica Stetinensia, 17(1).

Mandatory Readings

· Smith Chapters 3, 4&5;

Optional Readings

· Australia National Audit Office Developing and Managing Contracts - Getting the right outcome, achieving value for money;

· HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract.

· Australian Commonwealth Government Procurement Rules

· Victorian Government Procurement Rules

· WA Government Procurement Rules

· NSW Government Procurement Rules

· QLD Government Procurement Transformation;

Case Study

· Brisbane Airport's New Parallel Runway – Climate Change;

· BNE Airports EIS/MDP - Approvals.

8. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

By reading the processes which are based on sound policy, information and research, I learnt that examination, evaluation and implementation of laws and elected officials are important for the asset rich organization. By defining all the processes, organization can easily set their goal for making better relations with their team members. By reading these justifications related to enabling contract and tenders, I learnt the steps with the use of which organization can work in an organized way.As, Victorian Government Procurement Rulesalso definesa contract which is enforced and recognized by the government. I learnt the importance of signing a contract before accepting a project for an organization.From my person experience, I observe that evaluation of program before its implementation is important for asset rich organizationfor proving better services.

Lee, J., Kim, Y., Yoo, S. and Kim, S. (2011). An Objective Performance Analysis of Crosstalk Cancellation Scheme for Sound Rendering Systems Based on Listener Position Tracking. The Journal of Korea Information and Communications Society, 36(2C), pp.112-118.

Mandatory Readings

· Smith Chapters 3, 4&5;

Optional Readings

· Australia National Audit Office Developing and Managing Contracts - Getting the right outcome, achieving value for money;

· HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract.

· Australian Commonwealth Government Procurement Rules

· Victorian Government Procurement Rules

· WA Government Procurement Rules

· NSW Government Procurement Rules

· QLD Government Procurement Transformation;

Case Study

· Brisbane Airport's New Parallel Runway – Climate Change;

· BNE Airports EIS/MDP - Approvals.

9. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

By reading strategic management, I learnt that planning and designing plays an important role in managing the resources. By strategizing the plan, rich asset organization team can easily deal with all the risks that may face in future. I observe that effective utilization of resources clearly defines the goal and purpose of the organization by aligning all the internal and external resources in rational expected time.I also learnt the role of operational activities in asset rich organization.All the functions related to business offerings provides organization cash flow and also helps the company to check their profit rate.From my experience, I observe that QLD Government Procurement Transformation is an asset rich organization which is using these management strategies and functions for securing their data and information which are varied according to the decisionsmade while closing the project. Hence, I learned that management strategies and operational activities are important for better quality of services.

Lowson, R. (2007). Operational management and operations strategies: an SME perspective. International Journal of Procurement Management, 1(1/2), p.180.

Mandatory Readings

· Smith Chapters 3, 4&5;

Optional Readings

· Australia National Audit Office Developing and Managing Contracts - Getting the right outcome, achieving value for money;

· HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract.

· Australian Commonwealth Government Procurement Rules

· Victorian Government Procurement Rules

· WA Government Procurement Rules

· NSW Government Procurement Rules

· QLD Government Procurement Transformation;

Case Study

· Brisbane Airport's New Parallel Runway – Climate Change;

· BNE Airports EIS/MDP - Approvals.

10. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

By studying and demonstrating communication and professional level team work, I learnt the importance of effective communication and teamwork in business.It helps to maintain a positive work environment in the organizationwhich helps the team members of the organization to work in an effective manner. I learnt that with good and effective communication, asset rich organization can also define their policieswhich is beneficial for the organization. I also observe that collaborative group learningis useful in conducting the activities and also enhance the knowledge of team members which helps the team members of the organization to perform the activities in easy and better way.

Sarangi, S. (2016). Editorial: Team work and team talk as distributed and coordinated action in healthcare delivery. Communication & Medicine, 13(1), pp.1-7.

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 6;

· Chapter 26 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) Accounting Principles Vol 2: Managerial Accounting;

Optional Readings

· Chapter 18 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) compares managerial accounting with financial accounting;

Case Study

· Brisbane Airport New Parallel Runway Funding Facts;

11. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

From this study, I got an opportunity to learn new concepts which are widely used in business organizations for managing complex projects in more easy and effective way. My learnings are deep knowledge about project management, portfolio management and program management. The project management is important for business organizations as it improves growth, effectiveness, flexibility, risk assessment and customer satisfaction. I can apply the concept of project management in personal life for managing complex workload situations in easy manner. Form this case study, I have studied role and benefits of program management in business enterprises. Project management provides easy way to share resources, manage conflicts, improve risk visibility and to choose best projects. Through this study, I have studied the concept of portfolio management which ensures proper mixing of projects in order to achieve high level of overall returns. According to me, program, project and portfolio management helps to save cost and time of business organizations.

P. Killen, C., A. Hunt, R. and Kleinschmidt, E. (2018). Project portfolio management for product innovation. International Journal of Quality and Reliability Management,, [online] 25(1). Available at: https://opus.lib.uts.edu.au/bitstream/10453/10093/1/2008003301.pdf [Accessed 29 Mar. 2018].

Mandatory Readings

· Smith Chapters 6;

· Chapter 26 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) Accounting Principles Vol 2: Managerial Accounting;

Optional Readings

· Chapter 18 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) compares managerial accounting with financial accounting;

Case Study

· Brisbane Airport New Parallel Runway Funding Facts;

12. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

From this study, my learning consists of many topics like tools and methods for investigating and describing projects within organizations. I have studied the concept of asset life cycle management with helps me to understand its importance to business organizations. This is important for organizations as it is able to forecast needs in better way and improves service quality. It provides total cost of assets used in specific organization. This study helps me to understand the working of asset life cycle. Using this life cycle, I will be able to manage my valuable assets with proper monitoring and care. I have studied various investigation techniques used in enterprises for describing project requirements and to investigate them. My learnings include how organizations developed new facilities, designs, processes, equipment’s. The organizations are using these tools and techniques for designing, maintaining and developing current existing facilities with the implementation of technological management & asset life cycle management. This study helps me to enhance my knowledge along with concept clarity.

Al-Zwainy, D., Mohammed, D. and Raheem, S. (2018). Investigation and assessment of the Project Management Methodology in Iraqi Construction Sector. International Journal of Applied Engineering Research ISSN 0973-4562, [online] 11(4). Available at: https://www.ripublication.com/ijaer16/ijaerv11n4_55.pdf [Accessed 29 Mar. 2018].

Mandatory Readings

· Smith Chapters 6;

· Chapter 26 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) Accounting Principles Vol 2: Managerial Accounting;

Optional Readings

· Chapter 18 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) compares managerial accounting with financial accounting;

Case Study

· Brisbane Airport New Parallel Runway Funding Facts;

13. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

From my study, I learned that processes based on information, policy and research play an important role in the management of project. While analysing the policies, asset rich organization can easily implement the goals of elected officials and laws. I learnt the importance of signing a contract before any further implementation. For proper justification, proper steps are included for signing the contracts or tenders. I observed that Brisbane Airport New Parallel Runway uses proper steps that are selection a contract, collection the necessary information, choosing negotiator, contract review process and at last asset rich organization signs a contract which is beneficial for the organization for proving better services to the users.

Editorial Board. (2015). Endocrinology, 156(5), pp.2C-2C.

Whittaker, S. (2011). The Optional Instrument of European Contract Law and Freedom of Contract. European Review of Contract Law, 7(3).

Mandatory Readings

· Smith Chapters 6;

· Chapter 26 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) Accounting Principles Vol 2: Managerial Accounting;

Optional Readings

· Chapter 18 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) compares managerial accounting with financial accounting;

Case Study

· Brisbane Airport New Parallel Runway Funding Facts;

14. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

From this study, my learning is related to the importance of strategic management and operational activities. By studying this information, I learnt that implementation and formulation of goals. It plays an important part while managing the behaviour of the asset rich organization. Consideration of resources helps to organize all the external and internal offering in a specific manner. I also learnt that specification and development of objectives improves the way to manage the resources in better way. Importance of organizational activities is observed as these activities aims to perform the quality of services. Brisbane Airport New Parallel Runway is an asset rich organization that is using management strategies and operational activities. Hence, all these ways help the assets rich organization to secure their data and also ensures quality management services before project closure.

PROCESS-ORIENTED AGGREGATION SCORECARDS OPERATIONAL CONTROL FORWARDING ACTIVITIES. (2014). Automation and Control in Technical Systems, (1.2).

Mandatory Readings

· Smith Chapters 6;

· Chapter 26 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) Accounting Principles Vol 2: Managerial Accounting;

Optional Readings

· Chapter 18 from Edwards J. D., Hermanson R. H., Ivancevich S D. (2010) compares managerial accounting with financial accounting;

Case Study

· Brisbane Airport New Parallel Runway Funding Facts;

15. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

From this study, I learnt the importance of effective communication and teamwork. Effective teamwork and good communication helps the asset rich organization to perform their activities in better way. With good communication, organization can easily define their goals which satisfy the requirements of the customers and team members of the assets rich organization. I also learnt that clarity in communication defines the expectations and helps the organization to achieve their goals easily and effectively

Teeth Team receives £137k to further its good work. (2017). BDJ Team, 4(4), p.17058.

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 7;

· AS 4915-2002 Project management - General conditions;

Optional Readings

· Engineering & Construction Risk Institute;

Case Study

· BMD Constructions Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at Brisbane Airport

· Jan De Nul Group: New parallel runway for Brisbane Airport

· Hall Contracting: New Parallel Runway Project

· Jacobs Awarded Contracts through Brisbane Airport Airside

· Airbiz: Aircraft noise projections

16. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

From my study I learnt that management of process, program and portfolio plays an important role in asset rich organization. From my learnings I analysed that project management helps to discover, automate, improve, measure and optimize all the business processes. I also observe that process management helps to improve corporate performance of asset rich organization. It is basically a repeatable process which is used to improve the outcome of project. I also learnt that program management helps to support project level activity which resolves the issues related to project. Hence, project management helps to manage and identify cross project dependencies. From my study I also learnt that including project and process management, decision making is also important as it improves the performance of asset rich organization which is done by Portfolio management. From my experience, I observe that Hall Contracting: New Parallel Runway is asset rich organization which is using all these management processes to achieve their business goals.

HILL, A., SCHROEDER, R. and LINDERMAN, K. (2008). DISCIPLINED PROJECT MANAGEMENT: THE KEY TO PROCESS IMPROVEMENT PROGRAM SUCCESS. Academy of Management Proceedings, 2008(1), pp.1-6.

Zakamulin, V. (2016). Optimal Dynamic Portfolio Risk Management. The Journal of Portfolio Management.

Mandatory Readings

· Smith Chapters 7;

· AS 4915-2002 Project management - General conditions;

Optional Readings

· Engineering & Construction Risk Institute;

Case Study

· BMD Constructions Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at Brisbane Airport

· Jan De Nul Group: New parallel runway for Brisbane Airport

· Hall Contracting: New Parallel Runway Project

· Jacobs Awarded Contracts through Brisbane Airport Airside

· Airbiz: Aircraft noise projections

17. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

I have learnt that usage of specific tools and techniques helps to develop the project in an effective manner. There are specific tools that are used to resolve the problems which are faced while developing the project. By using these tools and techniques, resources used in the development of project is managed properly which helps the asset rich organization to easily complete the project within assumed budget and time. I also learnt that asset life cycle is also useful because it includes sequence of stages by following which organization can maintain their status. From my observation I found that BMD Constructions asset rich organization is using assets life cycle steps to develop, justify and maintain the equipment’s and data related to the project and organization.

Mladina, P. (2016). Optimal Lifetime Asset Allocation with Goals-Based, Lifecycle Glide Paths. The Journal of Wealth Management, 19(1), pp.10-22.

Mandatory Readings

· Smith Chapters 7;

· AS 4915-2002 Project management - General conditions;

Optional Readings

· Engineering & Construction Risk Institute;

Case Study

· BMD Constructions Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at Brisbane Airport

· Jan De Nul Group: New parallel runway for Brisbane Airport

· Hall Contracting: New Parallel Runway Project

· Jacobs Awarded Contracts through Brisbane Airport Airside

· Airbiz: Aircraft noise projections

18. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

From my study, my learnings are related to the processes that are based on information, research and policy which helps to justify the data of assets riche organization. I learnt the importance of signing a contract and tender before further implementation of project. As it helps the assets rich organization to work according to the law. I learnt the proper steps that need to be followed for proper management of project. These steps include contract selection, information gathering, selection of negotiator, process review and contract signing. From my experience, I found that Jan De Nul Group is a assets rich organization in which all the contract and tender steps are followed for successfully achieving the goals.

Bao, Y., Shi, M. and Kalra, A. (2017). Managing Project Selection Through Contract Design. SSRN Electronic Journal.

Mandatory Readings

· Smith Chapters 7;

· AS 4915-2002 Project management - General conditions;

Optional Readings

· Engineering & Construction Risk Institute;

Case Study

· BMD Constructions Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at Brisbane Airport

· Jan De Nul Group: New parallel runway for Brisbane Airport

· Hall Contracting: New Parallel Runway Project

· Jacobs Awarded Contracts through Brisbane Airport Airside

· Airbiz: Aircraft noise projections

19. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

I learnt that operational activities and management strategies also help in maintaining the quality of project. Strategizing the working of project helps the assets rich organization to achieve their goals and complete their work within assumed budget. Strategize or plan a strategy helps the organization to deal with the risks that they may face while making the project. I also learnt the importance of operational activities in business. It includes different activities such as marketing, manufacturing, product selling etc. which are easily managed by the organization by taking proper decisions and by managing the resources. I found that Airbiz is using operational strategies to check the profit of their business and manage their strategies to ensure quality and safety of work.

Hsu, S. (2008). Allocation Information and Operational Strategies. Information Systems Management, 25(3), pp.258-265.

Mandatory Readings

· Smith Chapters 7;

· AS 4915-2002 Project management - General conditions;

Optional Readings

· Engineering & Construction Risk Institute;

Case Study

· BMD Constructions Awarded Civil Contract for the Reclamation Phase of the New Parallel Runway at Brisbane Airport

· Jan De Nul Group: New parallel runway for Brisbane Airport

· Hall Contracting: New Parallel Runway Project

· Jacobs Awarded Contracts through Brisbane Airport Airside

· Airbiz: Aircraft noise projections

20. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

I have learnt that good communication and team work helps the assets rich organization to work effectively and in an organized manner. Working in team is the one of the way through which organization can reach their goals easily. I also learnt that good communication helps the workers of an organization to work with interest. Hence, I observe that for the overall success of business, good communication skills and teamwork play a major role to achieve business objectives.

Miller, D., Crandall, C., Washington, C. and McLaughlin, S. (2012). Improving Teamwork and Communication in Trauma Care Through In Situ Simulations. Academic Emergency Medicine, 19(5), pp.608-612.

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 8, 9, 10;

· QLD Dept. Transport and Main Roads. 2017. Project cost estimating manual;

Optional Readings

· AS/NZS ISO/IEC 15288:2015 Systems and software engineering;

Case Study

· BMD Constructions has a unique capability and portfolio of projects

· Brisbane Airport Corporation’s New Parallel Runway

21. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

From my study, I learnt many things which help me to manage my work in proper way. It includes process management, project management and portfolio management practices. I leant what exactly these management practices include. Managing the processes and programs of business helps to improve the performance of business by structuring the resources in proper manner. Process and program management also helps to improve the outcome of the project. The processes related to the project are managed which improves assets rich organizational performance. From my study, I also learnt the importance of portfolio management which is defined as the art of decision making. I observed that assets rich organizations such as BMD Constructions is managing their processes easily which is helping the organizational team members to achieve their goals.

Bibliography of process. (2004). Process Biochemistry, 39(8), pp.1025-1030.

Anson, M. (2005). Institutional Portfolio Management. The Journal of Portfolio Management, 31(4), pp.33-43.

Mandatory Readings

· Smith Chapters 8, 9, 10;

· QLD Dept. Transport and Main Roads. 2017. Project cost estimating manual;

Optional Readings

· AS/NZS ISO/IEC 15288:2015 Systems and software engineering;

Case Study

· BMD Constructions has a unique capability and portfolio of projects

· Brisbane Airport Corporation’s New Parallel Runway

22. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

I learnt that with the use of proper tools and techniques, assets rich organization can achieve their goals easily by managing their tasks and resources in proper way. To develop a project, proper equipment’s are used which helps the workers of the organization to work effectively. I observed that there are many organizations like QLD Dept. in which asset life cycle is followed. It describes the project into sub processes for maintaining, designing and justifying for developing new facilities which helps the organization to achieve their goals. I also learnt that assets life cycle also helps the organization to increase their productivity and provides good quality IT services to the customers of the organization.

Saleeb, N. (2016). Impact of Fidelity in 3D Space Visualisation Across the Construction Asset Lifecycle. International Journal of 3-D Information Modeling, 5(1), pp.16-28.

Mandatory Readings

· Smith Chapters 8, 9, 10;

· QLD Dept. Transport and Main Roads. 2017. Project cost estimating manual;

Optional Readings

· AS/NZS ISO/IEC 15288:2015 Systems and software engineering;

Case Study

· BMD Constructions has a unique capability and portfolio of projects

· Brisbane Airport Corporation’s New Parallel Runway

23. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

I observe that processes which are based on policy, information and research help to justify contract and selection criteria effectively. I learnt the importance of signing a contract before the implementation of project. To smoothly operate the business operations, policies, processes and procedures need to be followed so that assets rich organization do not make any decision which is against the law. I learnt proper steps of making a contract and tender which need to be followed for efficient operations and success of business and it also help the management team to easily resolve the risk in case it may face in future.

Bao, Y., Shi, M. and Kalra, A. (2017). Managing Project Selection Through Contract Design. SSRN Electronic Journal.

Mandatory Readings

· Smith Chapters 8, 9, 10;

· QLD Dept. Transport and Main Roads. 2017. Project cost estimating manual;

Optional Readings

· AS/NZS ISO/IEC 15288:2015 Systems and software engineering;

Case Study

· BMD Constructions has a unique capability and portfolio of projects

· Brisbane Airport Corporation’s New Parallel Runway

24. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

I learnt from my study that before the development of project, proper strategies must be made for managing the project and completing it within assumed budget. I also learnt some of the operational activities which are the functions of an organization which help me to deliver good services to the customers of an organization. It includes different types of activities which need to be managed before closing the project. From my experience, I can say that there are many assets rich organizations that are still using management strategies and operational activities to view their organizational profit and quality of services such as Brisbane Airport Corporation’s New Parallel Runway use management strategies for ensuring safety and quality to their customers.

Benson, D., Fritsch, O. and Langstaff, L. (2016). Local flood risk management strategies in England: patterns of application. Journal of Flood Risk Management, 11, pp.S827-S837.

Mandatory Readings

· Smith Chapters 8, 9, 10;

· QLD Dept. Transport and Main Roads. 2017. Project cost estimating manual;

Optional Readings

· AS/NZS ISO/IEC 15288:2015 Systems and software engineering;

Case Study

· BMD Constructions has a unique capability and portfolio of projects

· Brisbane Airport Corporation’s New Parallel Runway

25. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

I learnt that teamwork and good communication is important to support collaborative group learnings in asset rich organization. Team work helps to complete the task within assumed budget. With good communication skills, organization can achieve their goals easily with less effort. Teamwork in an organization divides the work among all the employers according to the strength and qualification of each employer. I observed that there are many asset rich organization such as BMD Constructions in which the work is divided among all the members which helps the members to complete the project before the deadline.

최윤미 (2009). Graduate Students' Perceptions on the Characteristics and Types of Good Teamwork. Asian Journal of Education, 10(3), pp.257-283.

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 11 & 12;

· Australian Contractors Association (ACA) Relationship Contracting;

Optional Readings

· BMA's Caval Ridge Mine;

· Adani Mining Pty Ltd Carmichael Coal Mine and Rail Project;

Case Study

· Enhanced instructions and grading criteria.

26. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

From this chapter my learnings are related to project management, portfolio management as well as process management. I learnt the importance of management processes for assetrich organizations. By readingall the information, I analysed that to complete the project before the deadline and assumed budget, all the members of rich asset organization must manage all the tasks and work accordingly. For the management of processes and programs, rich assets organizations strategize their activities in such a waythat that they achieve their goals. Through portfolio management, organizations can easy undertake all the risks and easily plan the plan the strategy through which rich assets organizations can increase their marketprofits. I leant that program management is the another way through which rich asset organizations can improve their business performance. I observed that there are many organizations such as BMA's Caval Ridge Mine which is a rich assets organization are using management strategies for enhancing their business performance.

A. Levine, H. (2005). Project Portfolio Management. [online] Available at: https://zodml.org/sites/default/files/Project_Portfolio_Management_A_Practical_Guide_to_Selecting_Projects%2C_Managing_Portfolios%2C_and_Maximizing_Benefits_%28Jossey-Bass_Business_%26_Management%29.pdf [Accessed 27 Apr. 2018].

Mandatory Readings

· Smith Chapters 11 & 12;

· Australian Contractors Association (ACA) Relationship Contracting;

Optional Readings

· BMA's Caval Ridge Mine;

· Adani Mining Pty Ltd Carmichael Coal Mine and Rail Project;

Case Study

· Enhanced instructions and grading criteria.

27. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

From my study, I learnt the tools and techniques plays a significant role in describing all the facilities related to the development of project. By using designing and using proper tools and techniques, organizations can easily accomplish and justify the task that are assigned to the workers of assets rich organization. I also learnt that rich assets organizations such as Adani Mining Pty Ltd Carmichael Coal Mine and Rail Projectfollowsassets rich life cycle for designing, developing and maintaining all their tasks and activities. I observed that with the usage of proper tools and techniques, assets rich organizations can easily complete their task within the context. I also learnt different types of equipment’s with the use of whichorganizations can maintain their existing facilities for the enhancement of their business growth.

D. Carroll, C. (2001). Portfolios of the Rich. [online] Available at: https://pdfs.semanticscholar.org/4c64/6c09ec69b539d00b621963594ebd7d285b41.pdf [Accessed 27 Apr. 2018].

Mandatory Readings

· Smith Chapters 11 & 12;

· Australian Contractors Association (ACA) Relationship Contracting;

Optional Readings

· BMA's Caval Ridge Mine;

· Adani Mining Pty Ltd Carmichael Coal Mine and Rail Project;

Case Study

· Enhanced instructions and grading criteria.

28. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

While learning about the sound policies based on tender acquisition, I analysed that there are several activities performed by the project managers which are crucial in nature as it requires hard efforts and coordination of the tasks. Some of the sound policies and criteria are as mentioned below:

· Preparing the effective business case for securing the management approval from the managerial authorities by collecting the expected outcomes of the contract.

· Assembling the team members to assign them with the appropriate tasks to perform

· Developing the contract strategy by analysing the nature of the contract to ensure supplier meets and allowing effective performance improvements.

· Risk assessment should also be performed for developing the effective strategies to mitigate the unwanted outcome happening

· Developing tender/contract termination strategy by meeting the expectations of the clients from the delivered system.

By my understanding, contract selection criteria is a complex task and can be handled effectively by grafting the specifications as well as tender documentations for supporting desired outcomes of the contracts.

Sutcliffe, S. and Court, J. (2005). Evidence-Based Policymaking: What is it? How does it work? What relevance for developing countries?. [online] Available at: https://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/3683.pdf [Accessed 27 Apr. 2018].

Mandatory Readings

· Smith Chapters 11 & 12;

· Australian Contractors Association (ACA) Relationship Contracting;

Optional Readings

· BMA's Caval Ridge Mine;

· Adani Mining Pty Ltd Carmichael Coal Mine and Rail Project;

Case Study

· Enhanced instructions and grading criteria.

29. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

From my study, I analyse the importance of management of operational and strategic activities. It is necessary to build the conditions for ensuring the safety and quality to the contracts by avoiding cost and time overruns. Some of the factors contributing in the project delays are as mentioned below:

· Designing error I the primary factor contributing in the project delay which is often overlooked by the project managers.

· Constantly changing project scope can be another factor contributing in the project delay as project scope should be defined in the initial stage for delivering the project on agreed deadline.

· Inadequate procurement can also be contributing factor in the project delay as it fails to manage the variations.

· Other contributing factors are complexity of the project which is raised due to the inefficiency of project manager to break down the project in simpler terms.

By my understanding, managerial authorities must have broad view about the contract and tender variations for managing the project effectively by ensuring its quality and safety.

Slack, N. (2005). Operations strategy: will it ever realize its potential?. [online] Available at: http://www.scielo.br/pdf/%0D/gp/v12n3/28022.pdf [Accessed 27 Apr. 2018].

Mandatory Readings

· Smith Chapters 11 & 12;

· Australian Contractors Association (ACA) Relationship Contracting;

Optional Readings

· BMA's Caval Ridge Mine;

· Adani Mining Pty Ltd Carmichael Coal Mine and Rail Project;

Case Study

· Enhanced instructions and grading criteria.

30. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

During my study course, I worked in various group projects and familiar t the various teamwork activities. While working in a team, most important factor is to coordinate with other team members to deliver the tasks effectively. Effective coordination is possible by having enhanced communication between the team members by supporting collaborative group learning. There are several communication mediums which can enhance the collaborative peer group learning such as video-conferencing, blogs and forums.

Sutcliffe, S. and Court, J. (2005). Evidence-Based Policymaking: What is it? How does it work? What relevance for developing countries?. [online] Available at: https://www.odi.org/sites/odi.org.uk/files/odi-assets/publications-opinion-files/3683.pdf [Accessed 27 Apr. 2018].

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

31. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations..

From this study, I have learnt the importance of project, portfolio and program management in order to manage discrete packages of work for achieving project objectives. The work within asset rich organizations can be managed in effective way with the help of these type of management. Project management consists of various areas such as project integration management, time management, scope management, cost management, human resource management, stakeholder management, risk management, project communication management and procurement management. The process of project management consists of project initiation, planning, execution, control and validation, closeout and evaluation phase. I have learnt that portfolio management process is on-going way to manage portfolio assets of client. The process of portfolio management includes planning, execution and feedback phases. The planning phase consists identification of objectives, investment policy statement, capital market expectations, asset allocation strategy, portfolio selection, portfolio management, monitoring and rebalancing and performance evaluation. I have learnt that program management comprises five stages such as start-up, define programme, establish programme, manage programme and closure. I have learnt that project management is focusing on strategic, process, people, learning and growth and project leadership key areas.

Oosthuizen, C. (2017). Project Portfolio Management Best Practice and Implementation: A South African perspective. [online] Available at: http://file:///C:/Users/Gurdeep%20kaur/Downloads/oosthuizen_project_2017%20(2).pdf [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

32. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

I have learnt various project management tools that are used for project investigation. I have learnt that with the help of PERT Chart and Gantt chart in the project planning phase, it would be easy for organizations to describe the projects with new facilities, plant, processes etc. that will be helpful to identify the asset lifecycle status. With the help of asset life cycle, better knowledge related to project requirements can be achieved as it provides clear picture of TCO (Total Cost of Ownership). I have learnt that planning, deployment, decommission, upgrade, usage, salvage ad procurement are main stages of Asset life cycle through which it is easy for organizations to identify new facilities, equipment, processes and plants during project management.

Srinivasa, R. (2015). [online] Available at: https://www.linkedin.com/pulse/three-phases-asset-life-cycle-critical-wear-point-bucket-mrics [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

33. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

From this study, I have learnt about the selection process of contracts and tenders and their importance in asset rich organizations. I have learnt process based on sound policy, research and information that is used for tender and contract selection. This process is also called MOD tendering process which consists of various steps such preparation of tender document, issue tender documentation, bidders conference, receive tender, evaluate tender, iterative tenders, award contract and debrief. This is a best process for selection of contract and tenders within asset rich organizations.

I have learnt that there are some factors that must be considered during the contract selection such as uncertainty of scope of work, need for predictable project cost, schedule milestone dates and risk of unexpected cost increases.

Kilawga (2013). Tender Process. [ebook] Available at: https://www.slideshare.net/TenderProcess/tender-process-27047746 [Accessed 7 May 2018].

Woodhouse, J. (2015). Asset Management & Maintenance Journal - Decisions in asset management (Engineering Collection) - Informit. [online] Search.informit.com.au. Available at: https://search.informit.com.au/documentSummary;dn=884628759594507;res=IELENG [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

34. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

My learnings include to understand various strategies and operational activities that helps to maintain security and quality of the projects. With the help of effective strategies such as risk management, it would be easy to avoid cost overruns and to make effective decisions related to project closing or execution. I have learnt that risk management allows organizations to identify weaknesses, strengths, opportunities and threats of project. The problem if project budget overruns can be managed effectively with the help of 360-degree planning strategy which is an exhaustive strategy where team cannot leave any kind of stone unturned. Effective planning is one of the biggest instrument in order to manage delays and cost overruns. With the help of good PO system, proper scheduling can be done by the project manager. For scheduling purpose, Gantt chart or any other advance scheduling tool can be used. The best way is to pay a lot of attention to the project planning so that effective decisions can be made related to project cost or overruns. In order to achieve the goals of project, risk management is best strategy.

Carey, S. (2011). Project Management Tools & Techniques. [online] Available at: https://newsletters.ahima.org/newsletters/ICDTen/2011/December/Carey_2011%20ahima.pdf [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

35. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

I have learnt the value of teamwork, communication and collaboration in the successful development of projects. When I was working in a team, then I have realized that common goals of teamwork are difficult to achieve If there is lack of communication among team members. I observed that the ideas can be shared in an effective way while working in a team which help to create more innovative idea that can increase the productivity of project. Hence, I have realized that productivity of projects can be enhanced in an effective way with the help of collaborative peer group learning. I have learnt that the team can deliver projects on time and achieve all their goals with effective team work and communication only which supports collaborative team learning. The organizations can effectively achieve their goals related to projects if the team members have effective teamwork and communication skills.

Andersen, A. (2009). Project Management and Teamwork. [ebook] Available at: http://www.europeanprojectsemester.eu/files/Project_Management_Andersen_abstract.pdf [Accessed 7 May 2018].

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

36. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations..

From this study, I have learnt the importance of project, portfolio and program management in order to manage discrete packages of work for achieving project objectives. The work within asset rich organizations can be managed in effective way with the help of these type of management. Project management consists of various areas such as project integration management, time management, scope management, cost management, human resource management, stakeholder management, risk management, project communication management and procurement management. The process of project management consists of project initiation, planning, execution, control and validation, closeout and evaluation phase. I have learnt that portfolio management process is on-going way to manage portfolio assets of client. The process of portfolio management includes planning, execution and feedback phases. The planning phase consists identification of objectives, investment policy statement, capital market expectations, asset allocation strategy, portfolio selection, portfolio management, monitoring and rebalancing and performance evaluation. I have learnt that program management comprises five stages such as start-up, define programme, establish programme, manage programme and closure. I have learnt that project management is focusing on strategic, process, people, learning and growth and project leadership key areas.

Oosthuizen, C. (2017). Project Portfolio Management Best Practice and Implementation: A South African perspective. [online] Available at: http://file:///C:/Users/Gurdeep%20kaur/Downloads/oosthuizen_project_2017%20(2).pdf [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

37. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

I have learnt various project management tools that are used for project investigation. I have learnt that with the help of PERT Chart and Gantt chart in the project planning phase, it would be easy for organizations to describe the projects with new facilities, plant, processes etc. that will be helpful to identify the asset lifecycle status. With the help of asset life cycle, better knowledge related to project requirements can be achieved as it provides clear picture of TCO (Total Cost of Ownership). I have learnt that planning, deployment, decommission, upgrade, usage, salvage ad procurement are main stages of Asset life cycle through which it is easy for organizations to identify new facilities, equipment, processes and plants during project management.

Srinivasa, R. (2015). [online] Available at: https://www.linkedin.com/pulse/three-phases-asset-life-cycle-critical-wear-point-bucket-mrics [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

38. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

From this study, I have learnt about the selection process of contracts and tenders and their importance in asset rich organizations. I have learnt process based on sound policy, research and information that is used for tender and contract selection. This process is also called MOD tendering process which consists of various steps such preparation of tender document, issue tender documentation, bidders conference, receive tender, evaluate tender, iterative tenders, award contract and debrief. This is a best process for selection of contract and tenders within asset rich organizations.

I have learnt that there are some factors that must be considered during the contract selection such as uncertainty of scope of work, need for predictable project cost, schedule milestone dates and risk of unexpected cost increases.

Kilawga (2013). Tender Process. [ebook] Available at: https://www.slideshare.net/TenderProcess/tender-process-27047746 [Accessed 7 May 2018].

Woodhouse, J. (2015). Asset Management & Maintenance Journal - Decisions in asset management (Engineering Collection) - Informit. [online] Search.informit.com.au. Available at: https://search.informit.com.au/documentSummary;dn=884628759594507;res=IELENG [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

39. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

My learnings include to understand various strategies and operational activities that helps to maintain security and quality of the projects. With the help of effective strategies such as risk management, it would be easy to avoid cost overruns and to make effective decisions related to project closing or execution. I have learnt that risk management allows organizations to identify weaknesses, strengths, opportunities and threats of project. The problem if project budget overruns can be managed effectively with the help of 360-degree planning strategy which is an exhaustive strategy where team cannot leave any kind of stone unturned. Effective planning is one of the biggest instrument in order to manage delays and cost overruns. With the help of good PO system, proper scheduling can be done by the project manager. For scheduling purpose, Gantt chart or any other advance scheduling tool can be used. The best way is to pay a lot of attention to the project planning so that effective decisions can be made related to project cost or overruns. In order to achieve the goals of project, risk management is best strategy.

Carey, S. (2011). Project Management Tools & Techniques. [online] Available at: https://newsletters.ahima.org/newsletters/ICDTen/2011/December/Carey_2011%20ahima.pdf [Accessed 7 May 2018].

Mandatory Readings

· Smith Chapters 4, 11 & 12;

· AS/NZS ISO 9004:2011;

Optional Readings

· AS 9002-2000(+A1);

Case Study

· BMD: Management Systems;

· BAC: EIS and MDP.

40. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

I have learnt the value of teamwork, communication and collaboration in the successful development of projects. When I was working in a team, then I have realized that common goals of teamwork are difficult to achieve If there is lack of communication among team members. I observed that the ideas can be shared in an effective way while working in a team which help to create more innovative idea that can increase the productivity of project. Hence, I have realized that productivity of projects can be enhanced in an effective way with the help of collaborative peer group learning. I have learnt that the team can deliver projects on time and achieve all their goals with effective team work and communication only which supports collaborative team learning. The organizations can effectively achieve their goals related to projects if the team members have effective teamwork and communication skills.

Andersen, A. (2009). Project Management and Teamwork. [ebook] Available at: http://www.europeanprojectsemester.eu/files/Project_Management_Andersen_abstract.pdf [Accessed 7 May 2018].

Reading samples

Learning outcomes of the unit

Learnings from your weekly study, experience, this and prior unit readings and assignments

Supporting documentation including any prior learning

Mandatory Readings

· Smith Chapters 4, 15&20;

Optional Readings

· Pinto, J. K. & Kharbanda, O. P. (1995);

· Diekmann, J. E. & Girard, M. (1995).

Case Study

· QBCC.

41. Review using clear terminology the key areas and processes of project, program and portfolio management practices as applies to asset rich organisations.

The project portfolio management practices consist of five key areas and four major processes. coming to its key areas, it consists,

Processes of project portfolio management are:

Hewagamage, C. (2011). Redesigned Framework and Approach for IT Project Management. International Journal of Software Engineering and Its Applications, [online] 5(3). Available at: https://pdfs.semanticscholar.org/2c37/67b320d94ece36987b936b3f9491f9b9325f.pdf [Accessed 18 May 2018].

Mandatory Readings

· Smith Chapters 4, 15 & 20;

Optional Readings

· Pinto, J. K. & Kharbanda, O. P. (1995);

· Diekmann, J. E. & Girard, M. (1995).

Case Study

· QBCC.

42. Discuss the relevance of tools and techniques for investigating and describing project process related to developing new workings, facilities, equipment, plant and processes for justifying, designing, developing, or maintaining existing facilities and equipment within the context of their technological and asset lifecycle status.

The tools which are used for investigating and describing project process like new equipment, new working or facility are software editor and technique which can be used is questionnaire. The software editor allows the team to construct any new working or facility or project and the relevancy of the tool can be verified from the ease of code it is providing. The technique like questionnaire describes that what type of new working can be established and it is relevant because the analyses on it creates a direct output which indicates the demand of that new working.

The tools for designing or maintaining the existing equipment is tool catalogues which provides the equipment manager with data and graphics about the existing working of the project. From this data, the manager can make decision about how accurately the equipment’s are getting managed.

Mandatory Readings

· Smith Chapters 4, 15 & 20;

Optional Readings

· Pinto, J. K. & Kharbanda, O. P. (1995);

· Diekmann, J. E. & Girard, M. (1995).

Case Study

· QBCC.

43. Present and interpret major processes that are based on sound policy, information, and research that enable project justification, tenders, contracts, and selection criteria to occur in an asset rich organisation.

Policies of project contract

Policies of project tender

Policies for selection criteria

Oral, M. (2001). Project evaluation and selection in a network of collaboration: A consensual disaggregation multi-criterion approach. European Journal of Operational Research, [online] 130. Available at: https://pdfs.semanticscholar.org/7bea/9985a86a88a52891f91a96618d37feb26b05.pdf [Accessed 18 May 2018].

Mandatory Readings

· Smith Chapters 4, 15 & 20;

Optional Readings

· Pinto, J. K. & Kharbanda, O. P. (1995);

· Diekmann, J. E. & Girard, M. (1995).

Case Study

· QBCC.

44. Critically analyse management strategies and operational activities from a broad perspective to ensure safety and quality, to avoid overruns or rework, to manage variations and claims, and to make decisions to discontinue or close projects.

The main strategies that can avoid the cost overrun or rework for managing the variations are scheduling of critical tasks first, which means, manager must schedule the critical tasks appropriately. Another strategy that can work in this direction is accurate resource utilization as per the activities. This means the manager must allocate the resources appropriately to the apt places where it is required. To avoid a situation of rework, the managerial strategy of overlooking the task progress can be done. Also, for making the decision over discontinue or close the project, stakeholder meeting, kind of strategy can be followed.

FANIRAN, O. (2018). Effective Front-End Project Management – A Key Element in Achieving Project Success in Developing Countries. [ebook] Available at: http://www.irbnet.de/daten/iconda/CIB8846.pdf [Accessed 18 May 2018].

Mandatory Readings

· Smith Chapters 4, 15 & 20;

Optional Readings

· Pinto, J. K. & Kharbanda, O. P. (1995);

· Diekmann, J. E. & Girard, M. (1995).

Case Study

· QBCC.

45. Demonstrate an effective, professional level of teamwork and communication and support collaborative peer group learning.

The effective professional level of teamwork and communicational group has certain attributes which are explained below.

Twomey, K. (2000). Teamwork: the essence of the successful organization. TEAM PERFORMANCE MANAGEMENT: AN INTERNATIONAL JOURNAL, [online] 2(1). Available at: https://www.emeraldinsight.com/doi/abs/10.1108/13527599610105475 [Accessed 18 May 2018].