RUNWAY PROJECT

The Denver International Runway Project



Executive Summary

The purpose of this paper is to analyze the techniques and principles of different management approaches and other theoretical concepts, utilized mainly in the developmental strategy of the Denver International Runway project. The entire life cycle of this project was designed appropriately, and it had all the essential characteristics that any proficient project must possess. These essential features included a temporary endeavour, uniqueness and progressive elaboration. Furthermore, the success of the project was made sure by the leaders who maintained a healthy interactive work environment throughout its completion. However, despite the fact that an excellent management control system was maintained in the form of an interactive control system, the risk management was not done appropriately, which lead to sudden critical conditions during the construction. Nevertheless the outputs produced were remarkable, and the airport management plans to further grow and expand, in order to maintain its greatest assets which include its individuality and its considerable size. The authorities intend to further lay down six more massive runways, in addition to another terminal, and another gate area.

Introduction1

Characteristics of a Project1

1. Temporary1

2. Unique Products, any Services, or a Result2

3. Progressive Elaboration2

The Concept of Iron Triangle2

Interdependence of Cost, Time and Scope3

Project Management4

Project Life Cycle5

Project Management Methodologies7

2. Incremental Methodology7

Life Cycle of Denver International Runway Project10

Risk Management of Denver International Runway Project16

References20

The Denver International Runway Project

Introduction

In Management Sciences, the term project can be described as a temporary endeavour undertaken to produce a unique product, any service, or a result (PMBOK® Guide, 2004, p. 5). Any project becomes distinctive in nature based on its operations and the agenda created for its completion.

The process of a successful project completion requires that the activities are planned efficiently so as to achieve the set goals. A planned blueprint also ensures that everyone involved in the project can compare their performance against the established deadlines, ensuring that the project completes in time.

Characteristics of a Project

1. Temporary

The idea that a project is initially a temporary endeavour suggests that it holds a distinct and a defined commencement and a resolution plan. It completes when the set objectives have all been achieved. This process may take up to several years.

The temporary nature of a project can be caused due to some other factors such as the workforce. For any project to be completed a team comprising of efficient member from different departments is created, who usually are disbanded when the project completes. Another reason could be the time limit assigned by the market in which the project intends to operate.

2. Unique Products, any Services, or a Result

Any project becomes more valued when it's unique, however, uniqueness here does not mean that it can not have any similarities with a pre-existing one. It only implies that the achievement of its objectives is gained by the execution of a distinct design at a distinct location by a distinct work force, under the supervision of several managers and owners. In short, the process of deliverance of the outputs itself, is unique ...