Project Initiation Document (PID), Project Management, Heritage 59 Essay

Project Initiation Document (PID), Project Management, Heritage 59 Residence in Thailand - Essay Example Financial viability is always an important variable for commercial projects of this nature (Knight 2006) and already, financial feasibility has showed a net profit of THB 380 million over 36 months. The scope of the project clearly defines the boundaries of the project as in what will be involved in the project and what will not be involved in it. The Heritage 59 Residence project will comprise of a two building edifice that is located Sukhumvit Road. The first building will be a maintained 12-storey building at the front side of the site. The second building will be a reconstruction of the existing 3 story-building into a 27-storey at the back side of the site. The proposed financial scope given to the project is THB 85,000 per Sqm with the total land size of project being 806 sq.m to be completed in 36 calendar months. The scope described is graphically represented below Achievable It is important not to set an objective that will be excessively difficult to achieve. The project objective has therefore been defined to be moderate and made up fulfilling all legal provisions that were given in the course of seeking permit for the site plan. Relevant At the end of the project, there should be specific benefits that can be pointed to as the outcome of the project and this is to make a commercial gain of THB 380 million out of the project. Of the tasks, the procedure of construction team and materials will be the most highlighted. Generally, a bid will be opened for interested suppliers to tender. An executive from the Tender Board will be consulted to oversee this process. The project manager will then put in the procedures for procurement to begin by following the steps laid down by the National Procurement Board. The procurement, which is to centre stage will be undertaken through