BUSM 3077 - Construction Project Management

Task 1: Earned Value Management (EVM) Analysis 

The project manager will use earned value management (EVM) to track the project's progress.

Question 1.1: EVM Metrics Calculation

Each student will apply EVM principles to track project progress and calculate the key metrics in the table

1. Actual cost: each student should make reasonable assumption of the actual costs of the 5 phases, and each student’s answer should be unique and different from each other.

Question 1.2: EVM Data Analysis & Corrective Actions

Analyse the EVM data to identify any schedule or cost variances and recommend corrective actions if necessary - A brief (150-200 words) summary of your analysis and recommended corrective actions.

Task 2

Given the complexity, high public interest, and need for efficient delivery, selecting an appropriate procurement method.

• Question 2.1: please advise the procurement method could be used for delivering this project with clarification (follow the four steps in procurement) 

• Question 2.2:

  Identify two key risks associated with your selected procurement method and the project and propose mitigation strategies to address these risks effectively. 

Task 3

As an assistant project manager specialising in risk management, you are consulted about whether to invest $150 million to build a new commercial building or to instead invest only $80 million to upgrade the existing building. The market demand for the building is uncertain. Based on a recent market study, there are  probabilities of a strong, medium, and weak market demand, respectively, for the building. A strong demand leads to $180 million revenue with the new building but only $110 million for the upgraded building due to its limited capacity. A medium demand brings $100 million revenue with the new building but only $70 million for the upgraded building. Further, a weak demand only brings $50 million and $30 million revenue with the new building and the upgraded building, respectively.