REPORT ON THE PANAMA CANAL EXPANSION PROJECT Institution Instructor Date Table of Contents Table of Contents 1 Abstract 3 Introduction 4 Background 4 Literature Review 5 International governance of projects 5 Corporate Social Responsibility 7 Stakeholders in projects 8 Project maturity 8 Findings 9 Finances 9 Environmental Impact 10 Stakeholders 10 Project Maturity and the Project Approach 11 Governance and oversight 11 Risk mitigation 12 High level risks and insurances 12 Procurement Policies 12 Strategic Human Resource Management and HR concerns 12 Performance Assessment of the Panama Expansion Project 13 Earned Value management 13 Professional Reflective statement 13 Conclusion…
Risk mitigation, high level risks and insurances and procurement policies followed in carrying out the Panama expansion project. The report will first begin with a small background on Panama project then a literature review will be presented. Introduction Most infrastructural mega projects are prone to suffer from cost overruns, delays, poor performance or inability to give customer satisfaction if inadequately managed. Interaction of several factors such as governance of such projects, their financing, human management and financing can cause complexities which can either promote their success or inhibit it depending on how they are approached. It is therefore crucial for project managers to thus critically analyze a mega project before undertaking it. This report takes an in-depth assessment of the expansion of the Panama Canal which is one of the busiest waterways internationally. Panama expansion project is also of key interest given that it plays a critical role in maritime trade and brings together international concerns. This report highlights some of the areas that have been considered since the decision to embark on Panama Canal Expansion Program was made. Background The initial construction of Panama Canal went underway in 1880 under the leadership of Ferdinand de Lesseps who built Suez Canal. This was a large scale project undertaken by people who had little prior experience in canal construction. They faced several challenges including minimal workforce, diseases and lack of funding. The geology of the region also posed a challenge to the construction work. A second company, the Compagnie Nouvelle du Canal de Panama, was contracted to complete the construction (Mack, 1944, p.24-26). After the American government the requested French machinery for construction, work officially began in 1904. Despite the challenges encountered in constructing the canal, Panama Canal was completed a decade later. The canal comprises of artificial lakes, channels and sets of locks. The three lock system included a one-stage Pedro Miguel lock, a two-stage Miraflores lock system and a three-stage Gatun locks (Maddox, 1993, p. 78). The locks determine the size of which ship can be allowed entry. Since the Panama Canal is of great importance to international trade, most traders use ships with a maximum size the locks can allow. With continued development and increase in international trade, Panama Canal lacked enough capacity to accommodate this growth, hence ship traffic congestion. As a result, it has lost market share to other trade routes including Suez Canal. Besides this, the canal has stagnated in growth of transit demand; its canal structure is outdated and lacked the ability to divert traffic to alternative routes (Dasgupta Marine insight, 2011, p.1). For this reason, Panama Canal Authority proposed the expansion of Panama Canal (Reagan, 2007, p.16). By doing so; APC applied the project principle of analyzing its customers’ needs. By expanding the canal, customers will be able to ferry more cargo at once. On October 22, 2006, ...
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At the ends of each canal, there are locks that are used to lift the ships to Lake Gatun hence reducing the workload to connect to the sea level. The locks are currently 33.5 meters even though there is a proposal to construct larger ones.
The meek 3,000 Panama Defense Force, more commonly known as PDF, proved to be no match when more than 27,000 United States troops stormed its shores for the name of democracy.
This event came to be known in history as “Operation Just Cause.” The entire movement quickly sprang into action after gathering popular media hype to the portrayal of the Panamanian dictator as being dangerously insane together with other refuted incidences that were manifested to be gravely perilous to American citizens located in the small country.
It went on to become one of the first biological reserves and is now the oldest tropical research station and concerns not just the Panama but also the tropics (National Research Council; The Smithsonian Institution). This paper discusses the history of STRI in Barro Colorado, tracing it from its very beginning to its current status.
It has also analyzed issues of human resource and procurement and project monitoring procedures. Workers in the project are subject to international labor laws. Moreover, there has been reevaluation of the procurement policies in Panama thereby allowing the government to give adequate consideration to international bidders.
The Suez Canal is also known as the Highway to India. The Canal is in Egypt and connects the Mediterranean Sea to the Red Sea and is a man made water route. The canal was opened in November 1869, and is a sea level water route
The main issues analyzed in this report include financing of the project, its environmental impacts, main stakeholders and governance and oversight of implementation project. Risk mitigation, high-level risks and insurances and procurement policies followed in carrying out the Panama expansion project.
His skillful negotiation tactics saw him win a Nobel Peace Prize as a result of negotiations that saw the end of Russo-Japanese war as well as be used in negotiating for the Panama Canal deal from the French, the Columbian and Panama (Vander
In the management of risks, it is important to carry out risk analysis in the area. Risk analysis refers to the techniques employed by individuals, businesses, organizations and government agencies to identify and evaluate factors hindering the achievement of objectives and project success.
The country’s efforts to reclaim the Canal Zone led to altercations on its cultural, political, social and economic changes since 1968 (Quigley & International Progress Organization, 2000). The actions
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