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Initiation and procure of project

Order Description

This order is 4 questions of exam attached, you have to answer these questions from the materials attached to this order and you can look for other sources if necessary but you have to but specific page number for information used. No need references or bibliography, just need clear answers, direct and easy vocabulary to understand.

Answer ALL questions. Each question carries equal marks

Scenario. All questions relate to this scenario. Answers should also relate to the scenario.

Antrobus Developers plc have purchased land adjacent to the centre of an East Midlands city centre on which they propose to develop high specification flats and offices.
They have completed this transaction because they assess that there will be a demand for both as the current recession eases.

The Local Planning Authority have indicated that they are unlikely to resist the proposal as they wish to encourage the sort of development planned but have commented that the development should be no more than five stories high.

Existing properties cover about two thirds of the site and consist of empty workshops, a small number of shops (now closed and boarded up) and a recently closed garage and petrol filling station.

Antrobus Developers anticipate that construction costs are likely to amount very approximately to £15million based upon a similar project they completed 5 years ago.  They have estimated that demolition costs, removal of any contamination and an appropriate contingency may add £3million to this estimate.
Given anticipated rental values and yields for the area they believe this will just enable them to realise a satisfactory profit.

They have therefore decided in principle to progress with their proposed scheme without delay.
Cont’d

Questions:

1.    Discuss how Antrobus Developers can evaluate and prioritise the risks to them associated with the in-principle decision to progress with their proposals for this site and suggest techniques which could be adopted to manage these risks.

2.    Early estimates regarding project cost, as well as estimates of the project completion date, are proving vital to the client in making a final decision whether or not they are able progress with the sort of development for which they have initial sketch designs. If the proposed project cannot be achieved within the time or budget redesign may be required with implications for overall viability.

Discuss methods of estimating cost and time, suggest which methods can be adopted at this early stage in the project and evaluate the level of reliability which can be placed upon such estimates.

3.    In the event of Antrobus Developers progressing with their proposal identify potential strategies for procuring the design and the construction of the project and evaluate the most appropriate strategy, giving reasons for your choice.

4.    The Chairman and Managing Director of Antrobus Developers plc (Martin Jones) believes that the adoption of a Partnering approach could bring benefits compared with current project procurement methods. He is seeking advice whether such an alternative would be appropriate in the case of this project.
Outline the potential benefits and pitfalls of the adoption of Partnering and comment upon the suitability of its adoption for this project.

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