Project

A. Definition

Project means that a planned work or task is executed under the agreed time frame, cost and resources creating committed product and other requirements. The Project is unique endeavour under taking different timing, resources, procedures, and circumstances. The Project requires a management, planning, execution, controlling and monitoring, and close-out and appraisals. The Project carry out by a team work and systematic operation internal and external organizations rather than individual work.

Definition is an exact statement and a concise that explains the meaning of the term of a word, phrase, sentence, text, concept, or action. A Project Definition means that a concise statement of the exact meaning of words, phrases, sentences or descriptions of the subject in the project business. The definition can be varied in aspects like precision or popularity, and different definitions with different purposes and focuses. The Project Definition is clearly defined and agreed in terms of the project language that is the essential requirement and the critical success factor for the project execution to communicate accurately with the same understanding of the meaning or terminology. Some critical project words and phrases are defined in the contract document.

Project Phase including each phase of project such as project management and controls, engineering, procurement, construction, commissioning and hand-over including close-out and appraisals, etc. Each phase of the work carries out a step by step as per the Project Life Cycle definitions such as initiation, planning, execution, monitoring and controlling, and close out.  

B. Project Roadmap

Project Roadmap is a framework of strategic planning for how to achieve the project objectives and goals under the company guidelines. The Project Roadmap is a plan that applies to the project initiation, planning, execution and close-out activities utilising company resources. To develop the Project Roadmap: communicate company mission and vision; develop project objectives; analysis any gaps; define core strategies with goal setting and implementation and regularly review and feedback.

Project Roadmap1

Life Cycle

C. Project Life Cycle

Project Life Cycle means that the definition of project progressive work process from the beginning of the project to the close-out activities, consists of initiation, planning, execution, monitoring and controlling, and close-out.

An Initiation is a formal commencement of the work by obtaining authorization to start the project, the Project Initiation means that the project execution team begins the project works and activities. Define the what to do?, and who is going to be key members including overall project scope of work; project schedule; budget and project goals/ objectives (execution philosophy or principle) to be a basis of the Project Execution Plan. Establish a project organization, project baselines and kick-off meetings with internal and external members. The Project Initiation team should buy in the overall project status include risks from a corporate planning team or a proposal team. Project Goals are achievable, measurable, specific and realistic for project teams and both parties of contract.

Planning is to set up the methodology, how to achieve the project objectives and goals through the identification of the project requirements and to complete the project. The Project Planning is an establishment and development of the project organization with roles and responsibilities; the project baselines and the project execution plan (PEP), and the detailed project schedules, cash flow, reporting and measurementation system, risk management plan and project procedures and manuals, and so on utilizing tools and systems (software). During the planning stage (approximately 2 to 3 months from the project beginning), the project team develops the work processes for the project progress monitoring, controlling and performance appraisal to achieve the project success. The Project Planning is required an agreement and consensus with internal/external functional organization through the project kick-off meeting and alignment meetings. Effective planning include the resource allocation planning for all team members. All Planning documentations are updated and maintained for the entire project life cycle.

Execution is an implementation of the project, performing the works and activities in accordance with the project baselines, plans and procedures, and contractual requirements. Leadership of the project managers, and coordination and cooperation within internal and external organizations building the team works, and well defined project definitions, and roles and responsibilities, accurate status reporting including forecast, timely decision making are key success factors for the project execution. The Project Execution is carried based on the project baselines, plans and procedures for scope, resource, interface, change, schedule, cost, risk, quality, safety and environment management.

Monitoring means that assess and observe the actual performance and progresses comparing with baselines and plans, and evaluate actual status and performance to ensure the project goals and targets can be met. Review the project reports, interview project members, examine quality and completeness of output. A Controlling means that foresee or identify and analyse any gaps from original plans, and develop the corrective action plans to meet the project targets and goals or evaluate project new goals and targets. Corrective action plans include increase resources and upgrade work processes. The Project Control needs a forecasting ability, developing corrective action plan and change management.

Close-out is to finalise all activities of the project at the end of the project. Complete hand-over the facilities and documentation to the client according the contract terms and conditions. The Project Closeout activity includes the project completion report: project histories; performance analysis with relevant raw data; project financial close out activities to the corporate organization (Archive); appraisals and demobilize project peoples. Any minor open issues including agreed punch works to be performed during a turn-around work period; any minor unsolved claims with other parties; remaining financial follow-up activities such as a final payment to be paid after expiring of the warranty period and bond return can be handed-over to the corporate dedicated team.

D. Additional Definitions