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Project Plan for Whitbread World Sailboat Race

SUBMITTED TO:
Prof. Himanshu Chowdhury

SUBMITTED BY:
Amit Singh (FT-11-1014) Harwant Singh (FT-11-1010) Tarisha Rathod (FT-11-1020) Satvinder Singh (FT-11-1028) Harendra Pratap (FT-11-1126) Bashistha Sharma (FT-11-1031)

Project Plan for Whitbread World Sailboat Race


The two main objectives of the project are to: 1) Design, build and test a new sailing vessel, 2) Select, equip, and train a crew capable of winning the race. Both objectives must be completed within 45 weeks, the start of the race, and with a planned budget of $3.2 million. Initial projections calculate the current schedule will take more then 50 weeks to finish with a final budget estimate of $ 4.8 million. Although the project estimates come in under budget, the time frame for completion extends beyond the acceptable 45 weeks. Therefore, the following analysis will examine submitted project managers time and cost estimates, in an effort to design a project closure approach. By reworking project network sequences, scrutinizing normal and crash costs, developing an optimal solution implementation plan, and comparing alternative Gantt charts will this assessment assist Bjorn Ericksen and his team to reduce project duration while keeping potential budget swell to a minimal. Bjorn Ericksen Project Strategy Analysis. Bjorn Ericksen has the tough task of meeting race standards while maintaining a budget and developing a winning boat. Bjorn has past experience of as a master Helmsman and is recognized as the best designer of racing sailboats in the world. Bjorn has brought two well qualified candidates to lead the two critical tasks within the one project. Karin Knusten (Chief Design Engineer) will work to construct and design the vessel, while Trygve Wallvik (Master Helmsman) will work to train the team that is chosen. Bjorn will use both of these well qualified individuals projections and suggestions to establish a project timeline that will accomplish completion of both critical tasks within the allocated time. The goal as a management team is for Karen, Trygve, and Bjorn to create a plan to reduce project duration through eliminating 5 weeks yet staying on budget. The normal cost submitted by Karin and Trygve totalled $2,990,000 leaving a $210,000 budget excess. The crash cost totaled $4,820 thus eliminating excess project time overruns but created a $1,620 budget shortfall (Attachment A). Therefore, the team will need to analyse the project network and its critical path, as well establish project priorities to determine which individual activities can be crashed while maintaining the integrity of the budget.

Conclusion After developing his strategy for building the boat and training the crew, Bjorn convened with his team leaders to discuss the strategies that were imperative in completing the project within the allocated budget and stipulated time period. The leaders correctly gave the Bjorn the normal time and cost information along with crash time and costs. With the help of the given information the team was able to analyse and determine the time slope. In the given project it was difficult to reduce the duration of the project without increasing the initial budget. The mission of Bjorn Ericksen and his team was to win the next Whitbread World Sailboat Race, for which they had laid down a exhaustive and expensive project. Now, by preparing, designing and building the vessel in accordance to the proposed plan we expect that the team would be able to sail home victorious. The multiple Gantt charts would be helpful in assisting the team in preparing an optimal solution plan for the project and will prove to be vita in counteracting the unprecedented setbacks. Hence, once the proposed plan has been properly implemented their will be no looking back and the team would certainly be second to none.