Project Management in for a Steel Project...

Project Management in for a Steel Project Project consists of a group of tasks, performed in a definable time period, in order to meet a specific set of objectives. It is a temporary activity. It is a one-time program hence different from operations where tasks are repeated in a routine way. Every project has a life cycle, with a specific start and end. The work scope of a project can be categorized into definable tasks. Project has a budget within which it is required to be completed. During the execution of the project, there is likely requirement of multiple resources. Many of these resources can be scarce and may have to be shared with others. Steel project like any other project has a life cycle (Fig 1) which includes (i) initiation, (ii) planning, (iii) execution, (iv) monitoring and control, (v) commissioning and handing over, and (vi) closing of the project activities. Fig 1 Project life cycle Steel project has four components namely (i) performance, (ii) cost, (iii) time, and (iv) scope. All these four components are interrelated and dependent on each other. Performance is the quality of the work being done. Cost is the expenditure made on the project work and is directly related to the human and physical resources applied. Time is the schedule which is required to be met for completing the work. Scope is the magnitude of the work to be performed. One of the key ingredients for successful project management in a steel project is having the right people on the job and managing them appropriately. Both of the two elements ‘having the right people’ and ‘managing people appropriately’ are important for the project success. However, in practice both conditions are frequently violated. There are several groups of activities in...