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5/2/2021 Project Management Report for Tank Farm
Contents: The authors would like to thank Mr. ANAND KUMAR SINGH (Energy Risk Prof...
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5/2/2021 Project Management Report for Tank Farm
Project Charter:Trade is an important facet in the economic development of any nation. The
ASSOCHAMSTUDY ON PETROLEUM TRAD...
Project Objectives:The project objectives can be listed as; Project area: 5 acres Project location:
Off-NH4B (...
Technical Details:The technical details for construction can be detailed as; Material of
construction is Mild Steel ...
Project Organization Structure: Project Director Project M...
Work Breakdown Structure (WBS):Work breakdown structure (WBS), in project management
and systems engineering, is adelivera...
Tank Construction pictorial representation:Some Pictures:
Network Diagram:
Precedence Table:Task Project Activity Duration Phase PredecessorNo. ...
Network Diagram (Critical Path Method): Abbreviations: Critical Path: Non Critical Path:
Dumm...
Project Evaluation & Review Technique (PERT): Optimistic Time of completion: t0 Most
Likely Time of completion...
Computation of Event TimesTask No. Project Activity Duration (D) TEi ...
Project Risk Management:Risk likelihood is the probability that a potential risk factor will
actually materialize. It isex...
Low 0.1 Minor 0.3 RCR (Risk C...
Critical Tasks:Project Resources:
Conclusion:The tank farm project, which is supposed to be a very lucrative project in terms of
futurebusiness prospects, f...
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5/2/2021 Project Management Report for Tank Farm
India and caters to JNPT which is spread over10 square kilometres (2,500 acres) handling
bulk consignments of 7.88 million tons perannum. The port handles 65% of Indias container
traffic has an average berthing period of37 hours which is considered very long. Hence the
tank farm is expected to cater to highbusiness volumes.
4. 4. Project Objectives:The project objectives can be listed as; Project area: 5 acres Project
location: Off-NH4B (NHAVA SHEVA Port, JNPT, NaviMumbai) Shell Capacity: 100000
kilolitres Project Type: Turnkey contract Project construction deadline: 36 months Project
Cost: US$ 200 millionProject Location: Project Area
5. 5. Technical Details:The technical details for construction can be detailed as; Material of
construction is Mild Steel Type of Tank: Floating Roof tanks (20 nos) Diameter of
Tanks: 20 meters (largest tank) Height of Tanks: 12 meters (highest tank) Tank
foundation: Reinforced Concrete piling with Bitumen and sand surfacing Associated
pipelines: 2650 meters (diameter 100mm and 200mm NB) Material of Storage: Petroleum
derivatives (non-reactive) Design guidelines: OISD-STD-105/ OISD-RP-108/ OISD-STD-
110/ OISD-STD-112/ OISD- STD-113/ OISD-STD-114/ OISD-GDN-115/ OISD-STD-117/
OISD-STD-118/ OISD-STD- 119/ OISD-RP-149/ OISD-STD-156/ OISD-GDN-166/ OISD-
RP-167 Tank construction method: Jack-up methodTank Foundation Details:
6. 6. Project Organization Structure: Project Director Project Manager Project Management
Resource Risk Management Team Management Team Team 1. Technical Manager 1. Finance
Manager 1. Configuration 2. Communication 2. Accountant Manager Manager 3. Purchase
Manager 2. Scheduler 3. Personnel Manager 4. Transportation/ 3. Estimator 4. Project
Administrator Logistics Manager 4. Senior Consultant 5. Mechanical Engineer 5. IT Manager
(vendor) 6. Civil Engineer 6. Systems Manager 5. Senior Consultant 7. Electrical Engineer 7.
Metrics Analyst (customer) 8. Draftsman 8. Contract Manager 6. Insurance Consultant 9.
Safety Manager 10.ContractorsPMI’s Standard for Portfolio Management:
7. 7. Work Breakdown Structure (WBS):Work breakdown structure (WBS), in project
management and systems engineering, is adeliverable oriented decomposition of a project into
smaller components. It defines andgroups a projects discrete work elements in a way that
helps organize and define the totalwork scope of the project. Preconstruction Activities: 1.
Develop Technical Specifications 2. Contractor Solicitation 3. Pre-construction Meetings 4.
Acquisition of Permits and Licences 5. Construction Agreements with vendors, suppliers and
sub-contractors 6. Land surveys/ Aerial Photographs/ Soil Tests Construction Preparation:
1. Clearing of Site/ Demolition 2. Land excavation/ filling 3. Levelling 4. Ground water
removal Resource Acquisition: 1. RFQ/ Tendering 2. Vendor Selection 3. Ordering 4.
Delivery 5. Testing 6. Payments 7. Construction Equipment hiring Construction: 1.
Excavation 2. Piling 3. Tank Foundation 4. Plate welding Testing and Handover: 1. NDT
Testing for Welding joints 2. Hydro test of Tank 3. Handover to operations
8. 8. Tank Construction pictorial representation:Some Pictures:
9. 9. Network Diagram:
10. 10. Precedence Table:Task Project Activity Duration Phase PredecessorNo. (days)1-
Recurring Morning Meetings (Daily Activity) Daily137138 Preconstruction Activities 27139
Develop Technical Specifications 5 1140 Contractor Solicitation 15 139141 Acquisition of
Permits and Licences 20142 Construction Agreements with vendors, 7 140 suppliers and sub-
contractors143 Land surveys/ Aerial Photographs/ Soil Tests 6 141144 Construction
Preparation 3 141145 Clearing of Site/ Demolition 9 138146 Land excavation/ filling 4 2
143147 Levelling 2 146148 Ground water removal 5 146149 Resource Acquisition 60 145150
RFQ/ Tendering 30 3 139151 Vendor Selection 7 150152 Ordering 3 150153 Delivery 15
152154 Testing 5 153155 Payments 7 154156 Construction Equipments Hiring 3 144157
Construction 35 149158 Piling 4 4 156159 Tank Foundation 6 158160 Plate Welding 25
159161 Testing and Handover 4 157162 NDT Testing for Welding joints 2 5 160163 Hydro
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14. 14. Project Risk Management:Risk likelihood is the probability that a potential risk factor will
actually materialize. It isexpressed numerically between: never happen (0) will happen
(1)Risk likelihood table:S No. Qualitative Quantitative 1 Low 0 to 0.20 2 Medium 0.21 to
0.50 3 High 0.51 to 1.00 Composite Likelihood Factor (CLF)Activity Nos Activity Name
Likelihood of Failure Weight-1 (Finance) Weight-2 (Manpower) Weight-3 (Technology) CLF
139 Develop Technical Specifications 0.1 0.05 0.05 0.2 0.03 140 Contractor Solicitation 0.3
0.05 0.055 0.05 0.0465 142 Construction Agreements with vendors, suppliers and sub-
contractors 0.5 0.01 0.0025 0.03 0.02125 150 RFQ/ Tendering 0.5 0.2 0.05 0.05 0.15 152
Ordering 0.1 0.0025 0.01 0.01 0.00225 153 Delivery 0.7 0.05 0.03 0.055 0.0945 154 Testing
0.7 0.0025 0.25 0.2 0.31675 155 Payments 0.3 0.05 0.05 0.05 0.045 158 Piling 0.3 0.055 0.05
0.25 0.1065 159 Tank Foundation 0.5 0.2 0.2 0.05 0.225 160 Plate Welding 0.7 0.25 0.2 0.05
0.35 163 Hydro test of Tank 0.9 0.03 0.05 0.0025 0.07425 164 Handover to operations 0.5
0.05 0.0025 0.0025 0.0275 Project CLF (max value) 1 1 1 0.35 Composite Impact Factor
(CIF)Activity Nos Activity Name Cost impact Weight-1 (Financial) Time impact Weight-2
(Schedule) CIF 139 Develop Technical Specifications 0.1 0.7 0.28 140 Contractor Solicitation
0.5 0.7 0.56 142 Construction Agreements with vendors, suppliers and sub-contractors 0.3 0.5
0.36 150 RFQ/ Tendering 0.3 0.3 0.3 152 Ordering 0.1 0.7 0.28 153 Delivery 0.1 0.7 0.28 154
Testing 0.1 0.7 0.5 0.3 0.22 155 Payments 0.1 0.5 0.22 158 Piling 0.5 0.7 0.56 159 Tank
Foundation 0.5 0.7 0.56 160 Plate Welding 0.9 0.7 0.5 163 Hydro test of Tank 0.3 0.7 0.42
164 Handover to operations 0.1 0.9 0.34 Project CLF (max value) 0.56
15. 15. Low 0.1 Minor 0.3 RCR (Risk Consequence Rating) 0.714 Likelihood Moderate 0.5
Significant 0.7 High 0.9RCR = Impact * LikelihoodSince the RCR of the project is 0.64, it is
a moderately risky project and hence can beexecuted with proper safeguards.# for detailed
calculations, please refer to the attached MS Excel worksheet.MS Projects
Applications:Project Overview:
16. 16. Critical Tasks:Project Resources:
17. 17. Conclusion:The tank farm project, which is supposed to be a very lucrative project in
terms of futurebusiness prospects, faces immediate project implementation challenges in
terms of highrisk of failure. Also the project envisages to be completed in 4months, would
face a delay ofa fortnight, where only a remote possibility of completion (6%) within the
timeframeannounced by the promoters. Although a detailed cost analysis was not undertaken
due toresource constraints, it can be safely concluded that adequate safeguards should
beimplemented to mitigate project risks. In case of cost over runs due to delays in
projectimplementation, a cost-benefit-analysis should be performed to ascertain the benefits
ofemploying more man-hours during for the project vis-a-vis the cost of capital and
theopportunity cost of completing the project before time. Contractors can be
givencommensurate benefits based on early completion of project.Key Findings:The key
findings in the project can be summarized as; 1. Lucrative business prospects 2. Project
deadline would be breached by a fortnight (inclusive of holidays) 3. Project risk is high
(RCR=0.714) 4. High risk due to critical activities like Piling & Plate Wielding 5. Mitigation
required for the above activities which would significantly reduce risk exposure 6. Manpower
deployment to increase at the fag-end of the project (phase- 4/5) 7. RFQ/ Tendering process
has to be critically monitored for smooth project execution 8. Due to high project risk, equity
should be preferred over debt for capital infusion as high cost of capital (debt) could make the
project unfeasable
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