Partial Satisfaction of the Requirements for the MBA Advanced Rehearsal

Acknowledgments

This research may see the light of success without the cooperation, supervision and support of a few persona and organisation. The University espoused supervisor Dr. —ABC1—, Lecturer, Department of Financial Management, PQR University, is the foremost resource of the approaching, motivation and encouragement to this dissertation endeavor. He has gifted with fundamental assistance along all the way and extended his hands as needed. His helps are beyond measure.

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Department of Financial Management, PQR University, is an additional resource to go ahead with this study. It has smoothed the progress with valuable modulation, books, Academic Journals, Magazines, and Researches as well as many efforts for this study. The teacher and staffs of the Department are extraordinarily accommodating to the author. Without their support and collaboration, this study could not be competent to reach its conclusion at the end.

National Statistics, BAA2, T53 and other divisions of the Ministry of Civil Aviation under the state government has collaborated exclusively to collect data for this research initiative. State employees assisted with their openness, allegiance and earnest aspiration to serve.

Encouragement, caring and love of my ancestors and intimate companions have ensured a just right working environment for such a scheme without distressing the usual family schedules.

Each and every of the optimistic rudiments of this dissertation have gifted from those pointed out above. The conclusions and any other mistakes, omissions and inaccuracies within this dissertation are attributable presently to the author.

Abstract/ Executive Summary

Terminal -5 is a milestone of most up-to-date Project management. The technical risk management viewpoint of the Heathrow Terminal -5 has been evidenced new aspect of project management that the project has been delivered perfectly matching with the standardised norms and designed objectives ensuring all the involved deliveries in time.

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Heathrow Terminal -5 the largest construction project of the glob is the pioneer of the advancement of technology. As a construction project it has a greater impact on the modern project management theories and overall performance with different change in protocol and security issues.

The present dissertation ” Quality Delivery of Heathrow Terminal 5: A Technical Project Risk Management Perspective” has been devoted on the current issues aimed to investigate the implications of project risk management and draw conclusions, which will prop up the development of a business plan and the proposal for Project Management. With this vision, the author has undertaken a review of the literatures regarding Project Risk Management and identified comprehensible areas of consideration in this regards. An obvious justification has provided on Project Management and worked out a logical business case to address the needs of customer and stakeholders.

The strategy of Project Management of BAA has based upon economic analysis, environmental issues, customer psychological approach, social & emotional impact, cost effectiveness and a variety of IT hypothesis. In this literature the cost of such a construction project has scrutinised within the feature of concerned involvement of the effectiveness, cost saving, capabilities, customer service expansion, security measures and CSR4 issues. The outcomes from this study should make available suitable resource allocation to project risk management costs and progress the competency of future in the United Kingdom.

It has been critically evaluated with knowledge transformation making appropriate use of relevant project management theories. It has impersonated on the author’s role in service development, reference to leadership as well as collaborative working. The decision making of the project management evaluating the organisational and contextual issues are utilising the strategy for stakeholders, service users those are put into operation due to reality of changes and needs to expand existing service for project management strategy within the organisations.

Problem statement

The rationales of project risk management are to get hold of enhanced project results in stipulations of timetable, cost and operational presentation. The modern technical project risk management and conventional Heathrow terminal -5 construction projects has been related with services directly delivered to passengers through the project. The terminal -5 system enabled BAA to carry out business and get hold of information on project management, the passengers get access to project services by means of intellectual electronic devices such as a PC, PDA, touch tone telephone and most up-to-date IT orientation. Whereas the risks and controls are similar for the different risk management access channels, this “Quality Delivery of Heathrow Terminal 5: A Technical Project Risk Management Perspective” focuses specifically on technical project risk management and its impact including effectiveness of the technical risk management strategy accepted by BAA throughout the construction of Heathrow Terminal 5. Accordingly, this dissertation set in motion with a discussion of risk management related critical success features.

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Rationale for the Research

Because of the launch of new technology integrated with IT, the global perspective of project management has shaped in a new arena. It has generated enormous impacts on business sectors. Amazing expansion of ICT has introduced a global revolution in technological project risk management. The global trend in construction arena has set some challenges that cannot be fulfilled with the shifting of the traditional project management system. The survey of current Heathrow terminal-5 construction project reveals the fact that it requires rapid modification and adaptation to keep harmony with the world construction industry. It becomes more obvious by observing the increased number of passengers in some modern airports while others are bringing up the rear. In this context of any technical project of maximum service users and project managers would realise that there is no other alternative for them than to join the current trend of project risk management. Otherwise it would be more or less impossible to bring any sort of rewarding achievement for Project Management. At present, entrepreneurs are very often scared of performing any project risk management function with most of the traditional paper based organism. It, then, becomes bulky to carry out even a simple project service delivery checking. Consequently, the existing project risk management is embarrassed and seriously driven to upgrade the project outcomes. It causes some imperative losses both for the managers’ authority and customers.

On the other hand IT integration opens the new window for customer service by resolving the limitation of traditional project risk management and set aside a positive gaining such as increased success rate and investment by providing high yield of risk.

Research Question and Objectives

This dissertation has been premeditated to answer the subsequent research question. What factors most persuade the project risk management implementation and productivity among the Project Managers? The retort to this question would enable the project managers to organise the construction projects toward a greater motivation and augmented productive output. The justification of project risk management course of action has looked for to make certain that all momentous risks that cause failure of the project should be identified. The Identified risks should be understood and analysed with both the assortments of prospective consequences that impact on decision making. In context of Heathrow Terminal -5, four research objectives are listed below-

  • How efficient was the level of the integration of the project risk management?
  • How important the development of strategy for project risk management?
  • To what degree the customer service efficiency has improved with the implementation of project of Heathrow Terminal -5?
  • To what extend the security and delivery measures have been addressed?
  • To what degree the implementations of project risk management system support CSR operations?

Scope and Limitations of the Study

There are frequent developed in the project risk management strategy. Heathrow Terminal -5 is an ultra modern significance of successful project management. Although there is not yet implemented such a big project all over the world inconsideration of timeframe and budget, the basic information Heathrow Terminal -5 sites that just disseminate information on project risk management strategy offered to construction clients as well as to the general public. The project risk management strategy that allows Heathrow Terminal -5 passengers to put forward for different services, make queries on their journey, and submit instructions to them with standard norms, but do no permit anyone to violate any security measures. Advanced technology based Heathrow Terminal -5 allows its operators to electronically conduct all relevant duties online. Current development situations Heathrow Terminal -5 project is getting more and more advanced and escalating variety by as long as information at the early stage to providing transactional activities for project risk management.

The shapeless nature of the open-ended investigation questions and the resulting free outlined responses introduces the opportunity for false impression of the answers as well as creates the prospect of overly broad grouping of the responses into factor groupings. The data has been gathered from the surveys is predominantly subject to these problems, care has been given in analysis of survey keeping as much of the pragmatic data as possible for appraisal by any person interested in replicating this study. The outcomes were amassed into standard features as reported in the Findings section.

The timeframe was also a limitation for this study. A superior rejoinder rates from the supervisory review would have been advantageous, as would an additional systematic random sampling arrangement for the workforce surveys. On the other hand, from the dependable character of the results, this researcher doubts that a further refined sampling plan or else more comprehensive research design would lead to significantly diverse conclusions.

Overview of the Topic

This literature review has been organised with writings, researches and scholarly opinion concerning the description, measurement and evaluation of quality delivery afforded by the Heathrow Terminal 5 from the view point of risk management of a technical project has evaluated in this paper. In this evaluation, there have an amalgamation of literature review that consequence of the project and the project evidence of Heathrow Terminal 5 with the implication of that theoretical overview.

The inspections and judgments of contemporary theoreticians concerning the effectiveness of the risk management strategy, relationship between critical success factors, the risk management, the hypothesis or assumptions to be effective with those risk factors, risks minimising ways and limitation of the project. On the other side, evidence is gathered from ‘Heathrow Terminal 5’ in the consequence of literature part.

Scope and Limitations of this Review

The writings those has been included in this review reflect authors and researchers interested in the description, measurement and evaluation of project risk management strategy and its momentous effects in the organisation. The report focuses on studies of the dimensions of risk management strategy, customers behaviors, how project success has been measured and attributed by others, and the effect of project management upon organisational effectiveness and productivity. Special emphasis is placed upon the effect of managerial behaviors on productivity and quality initiatives in quality delivery. Both the historical and contemporary writings have been reviewed.

There are very big quantities of literature concerning project risk management are available, this review would be limited to the most legitimated theories and time-honored principles. It is but a sampling of the mass literature of project risk management. At the same time the wide range of popular writings associated project success, management and productivity necessitated limiting the review to mostly mainstream writings of customary authors.

Organisation of the Literature Review

Burke R., (2003) argued that the effectiveness of the technical risk management strategy approaches that convey to supervise risks strategies of project management. In an airport industry the areas of risks are scheduling, budget and delivery quality including emerging markets, environmental & economic risks, fuel costs, significant political issues, continuous altering technologies etc. On the other hand, these forces are also donating a significant impact on value achieving.

Other than these there also have several dynamics those are involve in managing risk strategies effectively. They are investment criteria, statistical evidence of risk factors, operating flexibility, entire personnel resources, information networks, stock of reliable intelligence, speed of development, consider the customer claims, exposing new risks by own, enter into a unfamiliar market, motivating employees through reward system, compensation system, organizational culture etc.

Ackermann, D. (2006), identified the Project Risk Management Strategies and Risk happening usual responses as follows-

  • It would carry out formal project planning and scrutinising sustained by the preset project management tool,
  • It would put forward regular standing reports of the project to both IS as well as user management,
  • It would get hold of user recognition of a precise change in management course of action at the commencement of the project,
  • It would split the effort into break up projects on the phase restrictions,
  • It would depend on team leaders to facilitate manage the efforts,
  • It would make available for further quality appraisal points,
  • It would distinguish the individual requirements of team members.

Meredith, R. J. & Mantel, J. S, (2008) has gathered the outcome of risk management strategy cultivating with all of these brought an advantageous steps to short description of the effectiveness of the technical risk management strategy and indicated the type of the market: In an airport operating company all categories of markets are considerable for their business. Market of this industry includes children, teenage, younger people, adult people and old age. Traveling, health treatment, higher studies, migration etc. are issues act behind air travel.

Lozier, T., (2008) added that the Investment features of big construction project like airport requires a large amount of investment because of its logistics articles. Joint venture is the most effective investment course of action for this industry where operating flexibility has been needed for operation before a flight and in the era of construction project as a travel risk free and secure. The economic risks from the source of financing are a crucial issue for a big construction project because of its large investment criteria. On the other hand, recent recession and high inflation rate are other fact of economic risks.

Well-Stam, D. V., Lindenaar, F & Kinderen S. V., (2004) mentioned that the significant political issues and geopolitics are momentous in determining boundaries and accessibility large projects. Political conflict among countries make complex of this accessibility where larger scales of information networks including telephone, e-mail, fax, radio frequency etc. are the tools to form an airline communication network. There should also have advance and accurate weather upgrade.

Barkley, B., (2004) expressed that the stock of reliable intelligence required for a safe and secured large technical project. Tasks of the intelligence is to erase the complexity of air journey, concern on weather, flexible the flight schedule both for passenger and the crews involve in a journey. They also be aware and prepare of any technical outlook. Speed of development influenced by alteration of the technology, labor efficiency, supply of materials, coordination between project design and exercise in practice, technological assimilation and flexibility of the contract.

Cooper, F D., et al (2005) argued that make the operational activities flexible organizational culture is most imperative factor. Policies, motivation, relation, agent change and quality consciousness are the view of an organizational culture. Organizational culture varies because of the dissimilar culture among nations. On the other hand, airport is a spot where appearance of dissimilar culture is an on going process. Consequence of this, Airline industries have to more concern in their organizational culture.

Artto, K., & Kujala, J., (2008) mentioned that entire personnel resource and process of human resource management (HRM) determine success achievement of a project. Placing right person in the right place maximize skill of the personnel and efficiency in managerial decision-making process. As it is a sensitive project, compensation structure is high than any other industry.

Galarreta, D., (2007) discussed the coordination between risk management and critical success factors. Forces that work behind to preserve competitive advantages and areas to achieve success are the concept of critical success factors (CSFs). An airline company has involved in diverse risk dynamics because of its technological accessory. In coordination of risk management to critical success factors, there have four major sources of CSFs as bellow-

  • Industry characteristics: Type of the industry grounds its area of CSFs. CSFs of an airline company includes- proper placement of the passengers, construction of the building for the project, issues of providing security both for the passenger and the worker, place for refreshments, lightings, heating and ventilation, power services, baggage system, electronic system etc.
  • Competitive position: In accordance to the competition and CSFs, firm’s position varies from each other. From view point of an airlines company, issues of practical risk analysis- finance, geopolitics, economics and the stock market are look after as CSFs.
  • General environment: Alteration of general environment affects the CSFs constitutes. For instance, during early 1973, in USA practically there was no listed form of CSFs like- “energy supply ability”. But at the stage of the OPEC emergence and oil embargo they fall into a critical phase.
  • Organizational development: Innovative CSFs would arise throughout the occurrence of entire organizational developments. For example, rebuilding of the executive groups could be a mode of organizational development.

Burke, R. (2003) argued that the hypothesis of effective risk management is critical to the success of construction projects involves with completion of that project with a set of specific tasks those requires to employ resources and a target time to be end. Event is the concept that does not requires making use of resources but evaluates outcomes of the activities at the end of a particular time.

PB Network, (2008) defined network as the arrangement of all activities (in specific cases considering events) under a logical sequence, represent by different symbols and delineate the relationship between the project and the activities. Typically, networks are drawn using direction flow from the left side and end at the right side. Direction flows are for ensuring predecessors. Predecessors ensure that immediate activity has been completed before next activity needs to start. GERT (Graphical Evaluation and Review Technique), CPM (Critical Path Method), PERT (Program Evaluation and Review Technique), ADM (Arrow Diagram Method) Gantt chart etc. are the modes or concepts of network drawing.

Burke, R. (2003) also argued that path is a set of activities that attached every events of a network. Critical terminologies of a project determine the project’s operation speed. One of them like- events, activities or paths delayed completion of the project would be delayed. Critical path of a project combines a sequence of critical activities or events that connects the projects.

Royer, P S., (2001) added that before start a project it should measure the time limitation and resource limitation. Measurement of time limitation or expected time (TE) would estimate using following method. There also include the uncertainty of each activity or probability of each activity and probability of project completion time respectively.

TE = {(a + 4m + b)/6} … … … … … … … … … … … (1)

Where, TE = Expected time, a = Optimistic time estimate, b = Pessimistic time estimate

m = Most likely time estimate or the mode

σ2 = {(b – a)/6} ^2 … … … … … … … … … … … (2)

Where, σ = Standard deviation of the project schedule, a = Optimistic time estimate

b = Pessimistic time estimate

Z = (D – µ)/ √ σ2 … … … … … … … … … … … (3)

Where, Z = the standard normal deviate or the number of standard deviation under a normal deviation, D = Desired project completion time, µ = Critical time of the project or on the critical path total estimated time (TE) for the activities, σ = Variance of the critical path or the activities on critical path as a whole.

Marsh, J., (2008) discussed the issue of resource limitation. Based on industry type, limitation of resources are classified into- resource loading, resource leveling, resource schedule sketching and optimizing the resources. Most used method for this is “Heuristic methods, 1983”

Resource scheduling method: Minimum value is denoted as “dij”.

dij = Max [0, (EFij – LSj)] … … … … … … … … … … … (4)

Where, dij = When activity j follows activity i resulting increase in project duration, EFi = Early finish of activity I, LSj = Latest start of activity j.

The comparison occurs on the basis of pair wise all activities under the conflict set.

Estimation of optimal resource demand: Formula of optimal resource demand is as follow-

Priority = dj ∑ rij, here, i = (1 to m) … … … … … … … … … … … (5)

Where, dj = Duration of the activity j, rij = Requirement of resource i throughout the activity j per period, m = Number of resource type.

Most of the time resource requirement way in the common form of currency- “dollar, $” and the Heuristic methods mostly used in bottleneck perception (both in production scale and inflation rate).

Discussion

Galarreta, D., (2007) said that project should define objectives considering the type of industry risks management first requires to define the context of the work and sketch the way of success. In this fashion achievement of success, minimization risks and decision -making in future would easily grasp by anyone. It should identify risks, areas of risks and uncertainty, constraints vary from industry to industry because of their organizational culture and these views are strongly impact on any project and affect the project objective attaining percentage. Moderation of risks has involved in a sequential steps. Assemble form of these steps are denoted as “Intuitive approach” of risk management.

Edwards, P., & Bowen, P., (2005) mentioned that quantify risks can be defined as task of this stage is to risk evaluation of the project, arrange the risks factors in a descending order and finally, evaluate their probability of exercise in practice and what would be their scale of contact in future. Cooper, F D., et al (2005) mentioned that project have to develop responses and response of identified risks is assessed through four ways. Areas of risk response assemble risk response development stages.

  • Eliminate risks: Acts of risk elimination involves in two modes. Either completely avoid the risks or seek an alternative that would help to get rid of that. At the beginning of project conception, and design it is better to weigh up cost minimizing scopes and the factors of risks that highly impact on the project.
  • Mitigate risks: Mitigate the risks absorbs to make light of the possibility of the risks and its energy on the project. Adaptation of levels of standard of the product and service along with topical technologies would make easy to seek the desired objectives. In mitigating risks there used three approaches as follow-
  • Develop prototypes: Make investigation at the areas that conjure up the functioning with the intention to accept the tests are the accessories of prototypes.
  • Simulating: Tools used to motivate and improve the speed of the project development in order to turn into perform is under simulating.
  • Modelling: Miniature representation of the project’s physical relationship is the concept of modeling. For instance, make design of the airplane is denote as modeling of an airline industry.

Meredith, J R. & Mantel, S. J, (2008) argued that transformation the risks into another are the concept of risks deflecting. Forms or modes of risks deflect are- insurance, retention, contracting, bonding etc. Area of insurance are include- direct property damage, legal liability, business interruption or the loss of indirect consequential and personal liability. Concept of insurance is- transfer the insurable risks to a third party in terms of premium payment. Premium is enumerated how and what are the ratios of risks that affect the project. If any contractor fail to complete the obligation of a project he should pay retain of his income to the client is the notion of retention. Usually, if any contractor fails to execute 5 % of the contract value he will be spring to pay monthly his client 10 % development of the project. This procedure will continue until the warranty period go to end.

Meredith, J R. & Mantel, S. J, (2008) also argued that contracting is a way the flow the risks from client to the contractor. There are several ways to distribute share of risks between client and the contractor. They are-

  • Fixed price contract: Another term of this is “Lump sum price”. In written form, for a fixed price what would be the scope of work to complete the project is declared here. Cost factors are- labor, plant, material, risk and inflation. Another considering a fact is- the relationship between the model of construction and efficiency in practice of the model. Emphasize on negotiation rather than contract is more beneficial.
  • Cost plus contract: Reimbursable plus fee is the alternative term of this contract and it is considered as the most flexible contract. Under this approach client has paid the direct costs and also agreed to pay a portion of profit to the contractor. At the beginning of any project or term to end the liaison of the client and contractor has used this approach.
  • Unit rates contract: Schedule of rates, billed rates or parameter rates are also exercised to define this concept. For a specific work, negotiated rates are termed as unit rates contract. Using the unit rates payment will be held for every completed task. This approach would be helpful where contractor attains all necessary data by own and in the period of tender “Bill of Material (BOM)” have to be quoted.
  • Turnkey contract: Under turnkey contract or the design and construct contract contractor is responsible for any kind of unreasonable of the project that includes the design phase to the commissioning phase.
  • BOOT contract: Concept of “Build Own Operate and Transfer” or “Public Private Partnership (PPP)” mostly used in airlines, tunnels, railways, bridges etc. Both operational and financial responsibilities are under the contractor. In times of construction, facilities are operated by the contractor and they also charged for the use of product and services during this time.

Lozier, T., 2008 argued that bonding is important to improve the cash flows and full payment of the progress claims are arranged by a contractor against their poor performance. Referencing by a large organization, bond is offered to a client by a contractor when he fails to serve the desired quality of the task. In this case, the bond company compensated the client through grasp asset from the contractor and retention is preferable to the contractor all through this arrangement.

Burke, R. (2003) said that risks acceptance considers those factors that have no impact on cost forces. This concept is also termed as- self-insurance. A contingency plans or steps are required in this manner-

  • Minor changes of internal design,
  • Pay less attention in evaluating- BOM, resources and procurement.
  • Unexpected price changes of procurement.
  • Zero level experience of history, knowledge and judgment.
  • Erroneous hypothesis correction,
  • Deficient detail for the extent of alteration,
  • Forces that play against commissioning and implementing the schedules and
  • Regulation those are mostly rare.

Kerzner, H, (2009) argued that Control of the risks is an essential factor. Risk control is the outcome of risk management plan where all project participants are communicated repeatedly. Control of risks grounds on the following circumstances those are typically changed.

  • The scope of work,
  • Model of the project design,
  • Shifts of the team members,
  • Shifts of the suppliers,
  • Poor communication with clients,
  • Poor evaluation of the project.

Kendrick, T., (2003) stated that limitations of a project are the factors make restrictions that reduce the speed of project operation. Most considerable forces that are termed as the limitation for all categories of industry as well as in an airline company are described as follow-

  • Innovation: Markets requires highly innovative product and services to compete in the market and also for motivation. Lack of innovation dynamics the chances of risk occurrences and play against project failure.
  • Concurrency: Before the claim of market for any products and services concurrency enable an industry serve it in the market. For instance, some airlines company offer “fly-before-buy” and these capable anyone production selection after test of the prototypes. This tool is also used for the procurement disaster protection.
  • Stakeholders: Because of the environmental disaster commercially it is too hard to fulfill the interest of the stakeholders of an aviation company. On the other hand, success of an aviation company also depends on the environmental forces so that it could fly and land supersonically.
  • Communication: Communication technique is both for technological support and maintain network with the clients. Distance between client and the company fail the required project. On the other side, imperial and metric evaluation by an engineer safe the flight in time of landing and also in start to fly.

Research Methodology

The prime purpose of this episode is to discover how the chosen research methodology would fit with the key objectives of the dissertation question and by which means it would be realised. For all research purposes, there are two categories of research methodology and they are qualitative and quantitative research. At instance when the quantitative research has been carried out in the itinerary of getting hold of primary data through questionnaire, the qualitative research would go for a research as to conduct throughout interviews as well as observations. As a result, the method would enable the researcher to ascertain the details of individual sensitivities over observable fact.

Overview

The topic of the present dissertation is quality delivery of Heathrow terminal 5: a technical project risk management perspective. This research would lead to qualitative research through interview of BAA officials and T55 managers. This method would bring about to explore authentic information of T5 project implementation and perspective of its risk management.

Research Approach

Throughout expressive research theories and inductive way of thinking, this research moves toward develop of the methodology explained as follows. It is most of the essence to develop the base through which the research would be designed, carried out as well as consequently analysed.

At the outset, to generate a momentous qualitative methodology it is imperative to find out the research approach. The research approach would embark on an exacting design and that has taken as a whole strategy favoured to obtain the required information to come back with the research question. In the course of put together on logical relations the research approach would also weigh up the types of research design as well as data collection methods.

Appreciating the research question the descriptive research would be used within the research approach. The data dimensions are reliant on the facilities of essential information as well as excellence of the information. Thus, the outcome of the research would be quite dependent on the profundity and procedures adapted to collecting data as well as types of data collection

It is for the most part significant commencement of qualitative research; somewhere the nature of portrayal is moreover inductive otherwise deductive. The Inductive research embarks on by means of a specific question and likes to illustrate that when the deductive research initiates with the problem by working on the backwards of the answers. In support of that reason, the current research would use the inductive approach to put together the theories from the data draw together to discover potential conclusions towards the project risk management.

Primary research – Research Strategy

The favoured research methodology for this dissertation is a descriptive interview with some staff members and managers of BAA in London and Heathrow Terminal 5 staffs as well as a few managers of the BA. In paramount of the authors believe the interviewer would get hold of all the mandatory information essential to put up an entire representation of the project risk management of construction sector by using project management theories. This would be a well thought-out interview that focuses on user friendliness of project risk management, modifications in investors, construction sectors project implementation, and recessionary impact on the construction sector. The secondary research would evaluate the published materials such as media report as well as articles previously researched that would be analysed to spread out a broader perception of the present issue.

The research strategy would incorporate the inquiries stated above. A sound predictable research strategy would tolerate to enhanced data analysis by incorporating the research approach as an inductive and qualitative explanation. In blood relation to research strategy, the field of project management has been assembled on several diverse schools as well as viewpoint and evolving approaches. By formatting the existing strategic position, the impartial planning school identifies the objectives to press forward. Lynch, R. (2000) stated that by applying a regulatory approach, it demonstrates strategic analysis of project development and implementation.

This would be a well-built underpinning of the research since the viewpoint moves toward the systematic scheme that practices the sequence somewhere the data analysis and the ultimate recommendations would be attained with the sequential congregation of information.

Reliability, Validity of Interviews

To set up an interview with the staff members of BAA and BA why priority has been provided on the other means of data collection? The most imperative cause is that an interview with border line members has been preferred among other feasible scheme is the author contemplation that a discussion that intended to held amongst the interviewer and BAA or BA member, would be furthermore successful than any additional possible means. But the investors of the Terminal-5 would be at the peak awareness related to the research issues such as what would be the risk management strategy to implement the project and how the investment required increasing or coming out from the project implementation.

The Interviews

Saunders et al (2006) characterised that an interview would resolute conversation among the informant and interviewer or more people to collecting data, which would be compelling and reliable for meticulous purpose. The well thought-out interview would be pedestal on questionnaires with ordained and indistinguishable sets of questions. A few semi-structured interviews may have a list of themes and inquiries. The amorphous interview is casual but functional to investigate in depth of the wide-ranging area of interest. In this current research, a semi-structured interview has been adopted. This category of interview has been preferred for the motivation that it allows for unambiguous data to be exposed based on the project risk management perceptions.

Data Analysis

Surrounded by the itinerary of interviews all, the data would be composed and preserved with evidence. Earlier than any authentic analysis, the data would be pre-standardising by the interviewer as well as senior executives of BAA or BA. Following the approval all the irrelevant data that has been together throughout the pathway of the interviews would be stamp out for not to generate any inescapable conclusion.

The data analysis would emphasis to categorise the relevant data that should bring into being qualitative information. This analysis approach would breakthrough the key rudiments as well as connective interaction to determining sets of linkage among the key perceptions obliquely the range of attributes such as risk estimation with project management theories and evidence from the BAA & BA.

The attributes of the UK aviation market are the portrayal environment and events that would be explored by means of inductive approach with an objective for a holistic clarification of the Heathrow Terminal-5. The determined values are the empirical evidence of why the Heathrow Terminal-5 has been instrumented such as to generate as a successful project appraisal correlated with the subject matter. This would explain what happens after the Heathrow Terminal-5 implementation and environmental constrains of London.

Contingency Plans

In favor of any supplementary unforeseeable causes within the events on which the collected data generated from the interview may not be reasonable enough for analysis to represent conclusion. To triumph over these types of dilemma the research method would look for alternatives and as formerly bring up qualitative scheme of data collection and analysis would be taken place.

In these kinds of dilemma, the qualitative research methodology would particularly be non-contributor observation technique such as questionnaire and published materials should be adapted. The vital motivation for such selection is that the scheme has allowed the author to carry out such an enormous research within a shorter timeframe. On the other hand the involved close watch in this research facilitates the researcher with thoughtful to the perceptions of inhabitants whom the researcher observed.

Secondary Research

In this section the secondary resources akin to published materials like as journals, magazines, texts and earlier implemented researches would be used to gain point of view at the internal and external impenetrability that BAA and BA had to accomplishment with the prologue of the project risk management. These are used to answer the question what would be the sort-term and the long-term advantages and disadvantages for choosing and incorporating project risk management replica of Heathrow T5.

Primary Research

The questionnaire has been accumulated and forwarded to the BAA and BA brokers and potential managers of Heathrow Terminal-5. This would provide a superior impending as to a feedback from the general public interrelated to the T5. The sample would involve with younger echelon of society inventions in the midst of the ages of 18-35. The intention of this questionnaire is to put on an impending to investor’s reaction and contribution to the project risk management strategy that would settle on their intensity of trust on the fir value of selected project Terminal-5. The prime issues that would be raised are:

  • Modification in project risk management issues, necessary or not,
  • The level of trust in the project Heathrow Terminal -5 security systems,
  • Future trends and expectations of Terminal -5
  • Advantages and disadvantages of the services provided.

Data and sample selection

The most important objective of this existing thesis is to apply various valuation methodologies to form grounds for arriving at the risk management of technical project. The scope of this study is limited to the selection of a project Heathrow Terminal-5 operated by BAA. The project under investigation for this report includes quality delivery of Heathrow Terminal form the view point of technical project risk management. The purpose of such selection is to allow detailed analysis and comparative approach deriving risk management strategy of BAA.

The underlying principles of project risk management are to get hold of enhanced project results in requisites of timetable, cost effectiveness and operational presentation. The rationalisation of project risk management has looked for to make positive that all earth-shattering risks that cause failure of the project should be identified.

The acknowledged risks should be implicit and analysed with both the assortments of forthcoming consequences that impact on decision making. The estimation should be carried out upon individual risks comparative to the associated risks that would contribute for priority setting as well as resource allocation. The strategies for extravagance the risks considered the opportunities to deal with more than one diverse risk; that process itself and the risk handling strategies as put into practice cost-effectively.

For the risk assessment of Heathrow Terminal-5, the author would also procure the following data. The operational information such as announcement date, completion date, payment method, transaction value, and percentage acquired comes from the BAA and BA data source. Insider ownership the total percent of shares held by BAA is assessed from the proxy statements when the role of BA also taken into account.

The study would also involve analysis of the project under consideration and assumptions would be drawn for building future forecasts for application of Heathrow Terminal-5. Furthermore, current issues in the global project management system would be part of this report with its implications and expected impact on the UK construction sector would also be discussed with conclusions on what is to be learnt from the crisis scenario and what stepladder should be undertaken to the overcome.

Result &Finding

Effective strategies of the risk management at every aspect of the project development there have considered several numbers of risks. Motto of this project’s risk management was to launch the project- Terminal 5 with in estimated budget and also just in target time. Approaches or the effective strategies of Terminal 5’s risk management are-

  • Terminal 5 was created based on the concept of bespoke contract. Requirement of this strategy – supply of full time integrated working teams.
  • An extensive use of prefabrication and off-site manufacture. Aim of this strategy- expansion of economic advantages throughout the UK by the construction of Terminal 5.
  • Implementation of the strategy by means of a comprehensive logistics. There also used demand fulfillment approaches. For instance, carry out vast quantities of materials here used rail.
  • At the heart of the construction, in order to put worker welfare occupational health facilities are obtainable in site.
  • By ensuring the project stay behind program and by saving millions of pounds here used trials and tests of off-site and carried out off the critical path.

Modes Risks Mitigation

Mitigate the risks the project Terminal 5 has broken down their construction program into five following stages:

The site preparation and cultivate work activities- Site surveyed by archaeologists is the first step of the preparation of major construction activity has started and also in order to remove leveled and sludge lagoons. Roads, building logistics centers and office compounds are treated as temporary and support facilities.

The ground works and substructures- Construction of the foundations and the terminal basements substructures, earthworks are involved under this phase. Rail tunnels and drainage systems during the work hour are also included here. Landscaping the Clone Valley, about nine million cubic meters of earth was excavated with the purpose of creating the M25 spur road embankments. The main site was utilized by the rest of backfill.

The major structures of this stage entailed to composition of the roofs, multi-story car park, ancillary building and internal superstructures to connect both terminal buildings. Terminal 5’s roof was lifted into position successfully as spectacular single wave in April 2004. It took 10 hours together with a team of 12 specialist engineers lifted 2,500 tone for the first section. There required other five additional lifts bring about the whole roof. During December 2005, Terminal 5A was completely weather-right.

To fit out the fourth stage has paid attention to fit out the buildings interiors. Here included necessary building services of- power services, baggage system, heating and ventilation system, electronic systems with specialists and the Tracked Transit System.

The operational readiness during September, 2007 there required six-month program for the Terminal 5’s Operational Readiness. Operational Readiness included- check-in, way finding, baggages reclaim security tested and proven by involving 15,000 members through out 6 trials. Aim of this Operational Readiness was to synchronize among Terminal 5 and the rest of Heathrow Airport considering the entire terminal’s systems and full integration test and make certain.

Risk Monitoring and Control

Excluding all of the above steps there are also a set of ways for risk monitoring and control. They are as bellow-

Interchange plaza

Interchange plaza is the unique design of Terminal 5 and that contains 30 meter wide space, fountains and artworks, 40 London plane trees that attach the landscapes and there also have a short-stay car park. To make the car park in front of the terminal parking design has integrated the forecourt departure.

Rail station

Six-platform rail station is another feature of Terminal 5 those are accessible both for the interchange plaza and the main terminal buildings underneath. Flood down of natural light into the rail box there arranged “Ethylene Tetrafluoro Ethylene (ETFE)” a translucent plastic. Conveyed Departure of the passengers there has ten 50-person express lifts and this carried passengers ground floor to the rail way station.

Glazing

30,000 square meters of glass made up the Terminal 5’s facades that equivalent to 5,500 glass panels. Entering sunlight into the building and for temperature control exterior of the panel fitted ‘brise soleil’ and make use of film to coat the glasses. Deflecting glare fixed aluminum louvers act as sun shade.

Glass wall lining

As well as the roofs internal walls are also lined by glass. To clean and maintain straightforward 24,000 square meter glasses reflect light through their glazed wall lining. Over white walls glazing has installed that furnish a turquoise hue because of their iron connection. Communication points have fire equipment that conceals a service of multitude through its wall linings.

Ceilings

In construction of Terminal 5 ceiling has got extra attention from the designers. Discs of the ceiling were largely made up loose-fit and the number of discs is 4,678 of steel ceiling discs. Be effective the service access maintenance there has a tilt hinge on each discs and that are totally alternate from the traditional.

Flooring

In order to access service point hard wearing flooring has accommodated in Terminal 5 and throughout it used the conglomerate of Italian natural stone. On the way of passengers aviation undertaken activities dark tiles are used and on the everywhere else light tiles are served flooring.

Furniture

In order to, minimize clutter in passenger areas designers have pay careful attention while fixture and make this areas uniformity. Including speakers, flight information screens and cameras, consolidate system has paid versatile services under 10 meter high zonal beacons. A kit of Modular Park has used to create these beacons. This provides an easy elucidation to alter the recent design and a clears sight to see the length of the building.

Seating

Terminal 5 has adopted an integral element that would serve comfortable seating. Arrangement of seating incorporated through 50 potential suppliers’ product to deliver seating and in the new terminal there have 9,140 seats. Before installation test includes a set of trials.

Lighting

” Spires and Major” designed the lighting system of Terminal 5. Because of deficiency of natural light in the area architecture of the terminal made a balance between highlight the terminal and need of functional lighting. For instance, blue light has used in the immigration hall, all over the terminal used low energy lights and to make up the day light unavailability adequate numbers of artificial lights are used.

Traveling with children

This terminal has made available in baby changing facilities. Regarding this, each and every of the toilet blocks supply soft mat changing bench, wash basin, mirror, paper roll dispenser and hand dryer along with ambient intentional lighting.

Limitations

Authority of Heathrow Terminal 5 tries hard and soul in providing the superior value in aviation to each and every of its clients and passenger although there is a few tiny limitation that generates barrier against their promising vision. Aviation is such an industry that has to need consider environmental factors in their each and every movement. Regarding this, stakeholders interest could not be possible perform as their demand. Another significant phase, continuous innovation is too tough because of its high maintenance costs. Other than these, Terminal 5 of the Heathrow airport has no single imperfection in their performance and services.

All of the aforesaid discussion has exhibited the quality delivery of Terminal 5 of the Heathrow airport together with a literature overview and an evidence of the Terminal 5. This project has been designed and developed by Rogers, S. H. and ARUP. They have discovered a dramatic design of the single-span roof for the terminal. It formulates a spot in the passengers mind and experience 9,140 seats as element from ceilings to the floor. An aviation policy change in future is the key tool in construction of stunning buildings collection with enough flexible the recent and future demand of aviation making of Terminal 5 has involved in concurrency approach.

Other features of this terminal involved in- 22 pairs of 941 mm-diameter steel leg supports excluding any internal supporting columns. All of these assembled by 30,000 tone weight building that capable to run though the length of the building. With superb airfield view, aggregate form of this terminal executes to enjoy a light arrangement in conjunction with a spacious atmosphere.

Though there have abundant scope of enjoyment but there have too limitation make by environmental forces that construct barriers against the interest of the stakeholders and as well as of the passengers and clients. Apart from these Terminal 5 of the Heathrow Airport is a dramatic invention of architecture with the aid of technology.

Conclusion

The project risk management of technical project keeps its effort to track and identify risks, analyse the residual risks and look for new risks. It effectual to monitoring the implementation of premeditated strategies on the well-known risks as well as evaluates their effectiveness. The project risk management continues its initiatives for all throw the existence of the project. With the change of time the inventory of project risks get new shapes as the project grown-up there would born some new risks or predictable risks would be evaporate. Within the period of project implementation there should be on a regular basis risk congregation continues to review the effectiveness of the operation as well as new risks has to be argued for the attention of the stakeholders fitting with alternative responses, contingency plan and remedial actions.

At Heathrow Terminal-5 the delivery process involved to respond to the all part of the project by permitting flexibility and being bent forward to be resourceful. The flexibility has been developed by implementation of LRM intended for information remove. The LRM is an analogous system dedicated for JIT6 in support of construction which could be useful for collectively to transfer every sorts of information delivery. At Heathrow Terminal-5 the Lean thinking has been functional to estimate the development of the stream of information without any misuse. Within the process there are also a variety of opportunities to support processes of stakeholders’ examination and designers respond. Thus the ROI7 get highest form and affected and enhanced value is gained.

Recommendations

In comparison with the Stansted expansion protest form the environmental activists, BAA has been taken all its most effectual 360 degree project risk management strategy for Heathrow Terminal-5. It has ensured most of the preventive measures for environmental issues, but this paper would go for following recommendations for further consideration-

  • BAA would be aware of airport expansion project argued that the effectual protection of the national and global environment is one of the main goals of the policy maker in its national development projects but Heathrow Terminal-5 project may not violate this terms.
  • With the changing of time Heathrow Terminal-5 project may affect global warming although the prime minister explains the Government’s strategy to bring this problem under control. Government launches the Energy White Paper to describe the whole protection policy and BAA would be suggested to follow them.
  • BAA has been suggested to administer to reduce aviation CO28 emissions at Heathrow Terminal-5 when government has taken initiatives to diminish CO2 emission up to 60% from all other area of the country.
  • BAA has been suggested to control low cost flights at Heathrow Terminal-5.
  • Heathrow Terminal-5, BAA would follow the guide line of DfT9 to control the noise pollution which creates problem for the citizen of airport area
  • In this Heathrow Terminal-5 Airport area there would be required more effective recycling industry to ensure the reduction of waste pollution of the project area.
  • BAA has been suggested to much more aware regarding green house gases at Heathrow Terminal-5.

References

  1. Ackermann, D.2006, Project Management in Practice, Repeatable Risk Identification: A Practical Approach, Project Risk and Cost Management Conference.
  2. Artto, K., & Kujala, J., 2008, Project business as a research field, Emeraldinsight Journal Article,.
  3. Barkley, B., 2004, Project Risk Management, 1st edition, McGraw-Hill Professional, ISBN: 978-0071436915. Web.
  4. BAA Heathrow, 2008, Terminal 5: Information.
  5. BBC News, 2008, Queen Opens New Heathrow Terminal.
  6. Burke, R. 2003, Project Management: Planning and Control Techniques, 4th edition, John Wiley & Sons (ASIA) Ltd, ISBN: 9812-53-121-1
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  9. Cooper, D. F. Grey, S., Raymond, G., and Walker, P. 2004, Project Risk Management Guidelines: Managing Risk in Large Projects and Complex Procurements, Web.
  10. Cummins, T., 2008, Losing touch with the market, IACCM.
  11. Doherty, S. (2008), Heathrow’s Terminal 5: History in the Making, 1st edition, London, Wiley Blackwell; ISBN-10: 0470754354
  12. Doherty S., 2008, Heathrow’s Terminal 5: History in the Making, John Wiley & Sons, Ltd. Web.
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Appendix 1

The Program Management Team
Figure 1: The Program Management Team
:The Program Management Process begins in early planning and guides all projects throughout every phase of work, building assurance of success at every stage.
Figure 2:The Program Management Process begins in early planning and guides all projects throughout every phase of work, building assurance of success at every stage.
Peak Period Speeds on DFW Airport Roads
Figure 3: Peak Period Speeds on DFW Airport Roads
Maximum Aircraft Accommodated by New Tunnel
Table 1. Maximum Aircraft Accommodated by New Tunnel
Terminal 5, Feasibility Hierarchy
Figure 4: Terminal 5, Feasibility Hierarchy

Appendix 2

Performance Measures

The breathing literature does not provide with an appropriate tool to weigh up the impact of Heathrow T5 project risk management on the functional model of the project. For that reason a suitable instrument has been organised to enumerate this consideration. The questionnaire has been developed in a manner that has preserved its internal cohesiveness; care has been provided to make sure that each question focuses on one fastidious issue. Likert Scales (1-7) provides the valuation mechanism for the various.

A C D E F G H I J
1 How user friendly is the BAA Heathrow website 1 1 2 0 3 0 1
2 How secure is the Heathrow transaction on the BAA website? 1 1 2 0 3 0 1
3 How much support did the top management provide during the implementation of the Heathrow T5 project? 1 1 2 0 3 0 1
4 What is the improvement in the level of customer service after the introduction of Heathrow T5? 1 1 2 0 3 0 1
5 What is the level of integration of project risk management with the Heathrow T5 operations? 1 1 2 0 3 0 1
6 What is the level of integration of risk management strategy with associated business processes like equity management, treasury operations etc? 1 1 2 0 3 0 1
7 Please quantify the increase in the customer base after the introduction of Heathrow T5? 1 1 2 0 3 0 1
8 Please quantify the increase in the revenues of the BAA after the introduction of T5? 1 1 2 0 3 0 1
9 Please rate the flexibility of the workforce in adopting to the Heathrow solution [1,2,3,4,5,6,7] 1 1 2 0 3 0 1
10 Please rate the flexibility of the organization in adopting to the Heathrow solution 1 1 2 0 3 0 1
11 How personalized is the Heathrow system (Does it address the individual problems of the customer)? 2 0 2 0 3 0 1
12 What is the level of integration of the different Information systems in the bank? 2 0 2 0 3 0 1
13 Please rate the availability of the Heathrow service 0 1 2 0 2 0 2
14 What is the rapidity or speed of the delivery of service in the Heathrow context (especially when a physical action is required)? 1 1 1 0 5 0 1
15 Please quantify the incentives available with the customer to use the Heathrow T5? 0 2 1 0 3 0 1
16 Don’t trust giving contact information online for T5? 2 1 3 0 2 0 1
17 Extensive functionality and information to answer questions 0 3 0 3 0 1
18 Don’t trust accuracy of information at T5? 1 1 2 0 3 0 1
19 Transfer information is same as other airports in UK? 0 1 2 0 3 0 1
20 Does BAA online communication is unreliable and crashes often? 1 1 3 0 1 0 1

Footnotes

  1. Name of Your Supervisor
  2. British Airports Authority
  3. Terminal 5
  4. Corporate Social Responsibility
  5. Terminal 5
  6. Just in Time
  7. Return on Investment
  8. Carbon Dioxide
  9. Department for Transport’s
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