Assessment 1 Specification Individual Assessment (40%)
Introduction
You have taken up a new job in Perth, Western Australia. Both your partner and you are very keen on wanting to build your own home. You come across the Keystart initiative (https://www.keystart.com.au/) by the government of Western Australia and have found out that you and your partner are eligible to apply. You have decided to submit an application, but will have to do the following:
• Identify the suburb you want to build and decide the land size you want to buy (this will depend on the budget you are willing to spend on the land)
• Research the market and identify potential home builders who will construct your dream home.
• Finalise the layout /design and agree on the cost to build the house with the chosen builder
• Enter into a deal
o Sign a land contract with the land developer – you will need to pay a deposit of AUD$2000
o Sign a Pre-Work Construction (PWC) contract with the builder – you need to pay a deposit of AUD$2000
(in both contracts you have inserted the following clause: Deposit to be returned to client (in full) in the event of failure to obtain finance approval).
• Finally, you are now ready to submit an application to Keystart (can be done through the builder) to obtain finance to build your dream home.
The above activities can be efficiently managed through key project management processes. Where possible, you can also aim to implement lean project management principles to successfully manage the above activities.
This assessment is to be done INDIVIDUALLY.
Your tasks:
Answer the following questions:
1. Select and explain the project management processes (either from PMBOK or PRINCE2 or a combination of any best practices you have learned in this unit) that can help you:
a. Choose the suburb and decide the land size
b. Chose the best builder
c. Identify the stakeholders for the project
2. What are the factors that will influence the design and layout of your dream home? Explain the project management processes you used to determine the design/layout.
3. Explain how you would implement lean best practices to achieve lean project management for (1) and (2) above.
Solution
Lean Construction
Answer 1
- In choosing the appropriate suburb to establish the dream home, the cost will be a significant determining factor. Developing homes in different parts of Australia will come at varying costs in terms of material availability and pricing as well as value of land. In some suburbs, the land is highly valuable as compared to others, and so the cost will be elevated in places with high value (Hooper et al., 2015). Considering this factor, the project cost management process is applicable in the choice of the suburb to establish the dream home for the couple. Failing to consider the cost of land could result in the developers overstretching their budget and not completing the construction project conclusively in the long run.
Through the project cost management process, it is likely to be easier for the developers to plan, budget, fund, and control expenditure as far as the undertaking is concerned. By managing costs, it has to be clear to the designers and builders that there is a minimal margin of deviation from the initially budgeted finances for the completion of the project (Ricciardi, Xia & Currie, 2015). Failure to do so could imply that the project runs on budget deficits and losses in the end. In the choice of a suburb, it is important to note that in different areas, there is varying expenditure in terms of labor cost. High-end suburbs are less likely to………………………………..To access the rest of the solution for $10, please click on the purchase button.
