Project Management

Project Management Quality, Theory and Planning

Manage project quality

When managing the quality of a project, all of the processes and activities needed to determine and achieve project quality is determined prior to the project management plan being drawn up. The quality of the deliverables will vary from project to project but the three quality management concepts that need to be covered is customer satisfaction, prevention over inspection and continuous improvement.

Project management theory

Project management theory contains many techniques, tools, and methodologies pertaining to project quality. In a sense, the quality of the project is what drives all of project management theory. The theory is based on correct and proper planning, implementation of techniques, use of tools and methodologies to produce a project that is of a sufficient and correct quality. Tools and techniques are various and are applied throughout a project to both define set criteria and also measure the set criteria against the performance of the project. The development of the project scope management is essential to the project quality. This includes planning the relevant standards and legislation that are applicable to the project, performing quality assurance which is applying the planning techniques to the project and performing quality control, which is monitoring the project to assure that it complies with the relevant requirements.

Quality planning

Quality planning includes processes such as cost-benefit analysis, benchmarking, the design of experiments and cost of quality analysis. These can be performed to the required level dependent on the project. Adequate planning will also include establishing project metrics or measuring tools, project checklists to ensure all aspects of the project can be reviewed and checked off, an improvement plan and establishment of a baseline.  

Quality assurance

Quality assurance is completed throughout a project to maintain the project quality. The process used are the development of the quality management plan, the establishment of quality metrics, a process improvement plan and work performance implementation. Introduction of approve change requests need to be considered in the quality assurance process as well as implementing defect repair and implementing preventive actions to reduce project risks. Quality audits should be completed to review the project.  

Quality control

Quality control involves monitoring project results to ensure that they comply with the relevant quality standards. The quality management plans describe how the quality control will be performed within the project. Many processes can be used to show the effects of project performance including control charts, cause and effect diagrams and histograms. These and others are used for different visual aids to highlight project deviance and cause of problems.  

Legislation, codes and national standards to be applied to project quality management

Quality planning includes many quality standards and determines how they are to be satisfied. Standards include Australian and International standards, industry standards and organisations policy, systems and procedures. Quality assurance standards include testing laboratory certification standards, code of good manufacturing practice and quality systems. These processes interact with each other and with the processes in other knowledge areas. Quality management is designed to be compatible with ISO standards. Codes and standards that could apply directly to project quality management include standards governing WHS, environment and industry standards.  

What quality management methods, tools or techniques can be used to resolve quality issues?

Undertaking regular quality assurance audit for compliance is the primary way to ensure that quality issues are resolved. Constant review of correct plans, specifications and quality metrics, by undertaking remedial action and recording data are all key aspects of resolving quality issues. It is essential to prevent defects or variances to the agreed specifications early, as it will always cost more to redo work than to prevent poor work, to begin with. Quality assurance is the application of planned quality activities to ensure that the project will meet requirements. Tools used during the quality assurance process includes quality planning tools and techniques, quality audits, quality control tools, and techniques and process analysis. The primary results of these techniques are requested changes, to reduce risk, and recommended corrective actions. Learn about Project management budgets and cash flow by going to this website.  

By user23395, ago
Accounting

Learning Accounting – declaring income tax in Australia

Income You Must Declare on your Tax Return

In Australia, when you earn an income, most likely you will have to declare that income on your tax return. With the advancement of data matching and reporting, most of this information is already pre-filled on your income tax return if you were to lodge your tax return online. However, at times, especially where you are a sole trader or you undertake cash jobs on the side, you will need to declare this income manually on your tax return. Let’s look at the different types of income you might have received.

Employment and foreign income

Simply put, employment income is money you earn from working. For some, they are paid cash in hand, others, directly into their nominated bank accounts. Regardless of whether you have one, two or three jobs; full-time, part-time or casual; it is your responsibility to make sure all of your employment income is included on your tax return.   Salary and wages include your normal weekly, fortnightly or monthly pay; commissions; bonuses; money for part-time or casual work; parental leave pay; payments from an income protection policy, sickness or accident insurance policy or a workers compensation scheme; pay and allowances for continuous full-time service in the Australian Naval, Army or Air Force Reserve; and foreign employment income.   Many people forget that the income they earn overseas must also be declared on your Australian tax return. Heavy penalties apply for not accurately declaring income on your tax. it can be a good idea to take basic accounting courses at edna.edu.au  if you are thinking about doing your taxes without the help of an accountant. Once you have mastered the basics you can move onto learning more advanced accounting principles by enroling in a diploma of accounting - details about this qualification can be found here.   

Super pensions and annuities

Any pensions and annuities received must be declared in your tax return. A superannuation pension generally is a series of regular payments made as a super income stream made by an Australian superannuation fund, life assurance company or retirement savings account provider. In each super income stream payment, there are three components which need to be declared – the taxed element, the untaxed element, and the tax-free component.   An annuity payment is generally a series of regular payments to you by a life insurance company in return for a lump sum payment. Most annuities have both taxable and tax-free components and the taxable portion of the payment will be included in your assessable income when received, this includes annuities received by you as a reversionary beneficiary.

Government payments

Any income received from the Australian Government such as the aged pension, carer payments, Austudy, Newstart and Youth Allowance must be declared on your tax return and can be taxable. Other payments such as the disability support pension, child disability allowance, carer adjustment payment and Veterans’ Affairs disability pensions and allowances must also be declared but you won’t have to pay any income tax on these payments.  

Investment income

Investment income needs to be declared whether or not it is paid directly to you or through distributions from a partnership or trust. Investment income such as interest payments, dividends, rent, managed investment funds and capital gains must be declared in your income tax return.  

Business, partnership and trust income

The net income you receive from carrying on a business is assessable income and you need to declare when submitting your tax return, this includes business you run as a sole trader and as a partnership. So whether you are an artist, a trades person, a jewelry maker, a baker, you will need to declare this income.   It is important to note that whilst a business partnership does not pay any tax on its income, it must lodge a partnership tax return declaring all income earned and all deductible expenses. It will show how the net income or loss was distributed between the partners and the individual partners must declare their individual share in their individual tax returns.   In a trust, the trustee is required to lodge a tax return for the trust. It is the beneficiaries’ duty to declare the amount of income they receive in their own tax returns and pay tax on it. The only exception to this is a family trust distribution tax has already been paid. It is best to speak to your accountant about this.  

Crowdfunding

Interestingly, as more and more people use crowdfunding for their own personal purposes, the tax office has now released guidelines as to whether you are required to pay income tax on the amount received. If you earn or receive money through crowdfunding, some or all of it may be assessable income. This will depend on the nature of the agreement, your role in it and your circumstances. Speak to your accountant for more information. Still want to learn more check out this article  how bookkeeper and accoutnattns laern subsidiary accounts and ledgers

By user23395, ago
Project Management

Planning stage of the project management

PLANNING STAGE

Planning within project management is the process of predetermining all objectives and goals of a project and then developing strategies, outlining the procedures and programs required to attain them. This structured course of events typically defines the time and cost inputs of involved undertakings by collating relevant facts and perspectives (Kerzner, 2013). The planning stage (specifically the risk management analyses) is arguably the most pivotal part of a construction project such as the Carmichael mega-mine and railway. The sheer enormity of everything that needs to be planned is evident, and project managers much ensure that all options are weighed up and the best ones are followed through with. This project exemplifies exactly why planning is so important from the moment initiation is brought about, in regards to developing a clear line of action to properly deal with any changes to the project’s circumstances. This stage in construction extends to the likes of the environment, the community and even the positive and negative outcomes, beyond just the resourcing and budgeting for the venture. Learning about the planning stage and other areas of project management by visiting this website.

Planning Process

The initiation phase for the mine and railway that began in 2010, finally transformed into a reality in May 2014, when Queensland’s Coordinator-General approved the proposal’s advancement. With the project being green lit, the goals of the following, had all their courses of action developed and Scheduled in preparation:
  • Pit and underground mines
  • A coal handling and processing plant
  • A heavy industrial area • 189km of rail line
  • Off-site infrastructure (including workers’ accommodation and airport)
Likewise, aims of expanding the Port of Abbot Point to increase its capacity were planned. The primary goal of the project is to provide Indian power plants with enough coal to create electricity for up to 100 million people. The mine project has a reduced timeline of 60 years (down from 150) and 2.3 billion tonnes of coal (as opposed to 8.3 billion). Job prospects were also a largely planned agenda for this operation, and one of the key reasons (aside from $16.5 billion to the Australian economy) that it was permitted by the government. Adani project managers approximated that the project will generate 10,000 jobs in total. However, an Adani economic consultant told a court that a realistic number would be closer to 1464 jobs. In July 2014, approval was granted to Adani by the Federal Government to create the mine following 36 conditions. These conditions required management to re-plan certain schemes that were not in accordance. In August 2015, the plans for the mine were halted when a dispute about vulnerable species arose and the approval was set aside. The Adani group went about resolving this issue for themselves by recording the levels of species in the mine’s proposed location and announcing they would dedicate funds and surrounding areas to “moving” them. As planned, the coal mine was re-approved a few months later. This was in Adani’s favour because they spent little effort in planning for these species, and did not have to alter project plans at all. In February and April 2016, the coal mine was permitted final state government environmental approval and mining leases respectively. In October 2016, the government of Queensland granted critical status to prioritise all remaining approvals so that the project can begin. In accordance with this announcement, the rail line and construction camp were secured in a step to begin the process officially. What remained as of then were, ratifications for water licensing, power and road access before construction could get underway. With that in place, Adani had generated a finalised plan for the entire creation of the project and had outlined an intent to begin work on the mine before mid-2017.

Summary of Planning

Activities that were planned, controlled, and monitored by Adani’s project managers were as follows: Adani planned the creation of up to 10,000 jobs, covering all kinds of roles from engineers, project management, labourers and contractors in order to successfully create the mine and railway. A total budget for the project was estimated; monitoring of financial changes is crucial to ensure these values remain correct. A whole project schedule was in place, to ensure that all goals were achieved in a manner that followed a clear line of action. The mine and railway layout and civil engineering was planned and created in the early part of this stage to set a guiding basis for the project. Lastly, environmental impacts were heavily controlled and monitored since the conception of the project. The original intent to dump dredging spoils on the Great Barrier Reef (GBR) was quickly forced to be controlled and changed, and species affected by the project had to be monitored and managed to ensure as small impact as possible.

Outcome of Planning

The outcomes of this planning stage had prevalent positives and negatives involved. The planning was typically positive, with a clear focus on its goals while simultaneously offered an increased GDP and employment opportunities for the state government. Negatives also arose, largely surrounding the provision of misleading information. Inadequate planning regarding species with habitat on the site combined with grossly underestimating numbers, as well as planning to dump spoils on the GBR were notable negatives that received fierce backlash. Since the initiation of the project in 2010, many important environmental changes have occurred in the world. The world “carbon budget” is a factor here, and the burning of the coal from this mine will produce 0.6% of the world’s limit. Similarly, India recently announced a plan to step away from coal fired energy, which all but eliminates the project’s output. Such factors were clearly never planned for which exemplifies why it must be done for all possibilities regardless of whether they are good or bad for the company. Another reason why project management costs need to be considered before on all project prior to moving forward with the project.    

By user23395, ago