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There can be several issues and challenges related to the health and environment of the word cards, which are engaged in the project of railway bridge construction.
There can be several hazardous issues and challenges that have to be managed with proper strategy and implications.
Mitigating the risk
The construction design and management regulation are necessarily a set of guidelines that need to be followed by a given high profile project that is commercial or public, involving the risk of a high number of people in case of its collapse. It is pertinent that the given project must abide by the construction design and management regulation latest of which came in the year 2015, replacing the old guidelines that were laid in the year 2015. It is important that any of these governing projects must comply with the standard protocols of design set by the construction design and management regulations to meet the legal requirements unless it is bound to be penalized strictly on the basis of the contractual options.
The intended project, which is considered here of a truss type bridge design, railway track design as well as an adjacent access road design, is a very high-level project that must adhere to the construction design and management regulations for which the given project will be duly completed (Li et al., 2021). The construction design and management regulations will be implemented in the design and monitoring of this project in the form of suitable inspection teams and auditors that will highly evaluate the project during the particular stages of the construction, confirming the safety. The responsibility to adhere to the legal guidelines of the construction design and management regulations would be shared by the contractors in providing the safe and sustainable practices of construction amounting to the greater notion of constructional development in the given civil structure.
It is probable that any form of a constructional project will have a certain form of cost flow model involved as the estimation and costing forms the basis of any project. In this construction project, various elements of construction are involved, such as bridge design, railway track design, as well as a pavement design consisting of a large portion of financial estimation entailing the overall project, is involved. It will be highly complicated to develop the cash flow model for the overall construction project underlying various construction activities for the system for which every form of activity that is present is avoided. For the simplicity of the cash flow model, only the abutment and pier design for the bridge design is considered (Kaewunruen and Mirza, 2017). It is assumed that all the work activities till that part are completed, and the suppliers and subcontractor for that particular part of the project are selected adequately as well. Since the pier design and abutment design is considered, the foundation design for them is considered as well for the supplier for these works are chosen separately. The amount which is collected from the client is considered based on the sum to be paid to the suppliers as well as the financier of this project.
The interest of 5% is considered for the financier of this project, and the rest of the sum is considered as the profit that will be accumulated for the project (Kaewunruen and Lian, 2019). The cash model is developed on the basis of a 12 month instalment period over which it is estimated that the abutment design, as well as the pier design, is fully completed for the bridge design that is considered as the essential part of the bridge as it will be providing the necessary stability to the whole bridge structure.
"Internal rate of return"(IRR) Is a unit or metric that is used to estimate the rate of profitability of a business after investing capital into it. "Internal rate of return" is also counted as a discount rate that turns the " net present value"(NPV) of total cash flows into zero (Lee et al., 2018). The use of this operation is appropriate in discounted cash flow analysis. The calculation of IRR depends upon the same equation of NPV. " internal rate of return" does not give the result accurately in the form of pounds. The total annual return turns the present value to zero. According to the rule of " internal rate of return," the higher value of it means a number of profitability may occur against the given amount of investment.IRR can be implemented in capital analysis to manage the investment according to their profitability return (Wang et al., 2021). “Internal rate of return” also provides a General overview regarding each investment proposal to the business. The equation that can be used for the calculation of IRR is mentioned below.
In this report, the total amount of primary investment is considered as £10M. The bank interest is taken as 5%. The series of cash flow and the corresponding dates can be calculated using IRR. In this Railway project, IRR calculation is required to estimate the returned capital after investment. It also helps the management to measure the project's practicality.
The overall construction project programme is developed as a part of the overall estimation time for the whole project. The numerous activities that entailed in the completion of this overall large construction project of twin railway tracks, pair of access roads on either side of a constructed truss type bridge over an undocked basin supported by abutments and piers beneath the bridge structure were duly considered for the program design.
The outline diagram for the bridge design considering the development of the bridge as well as the different activity details which were provided for the construction of the whole project was referenced for developing the whole project program planning in the form of Gantt chart (Lin et al., 2019). The Gantt chart was developed covering the overall project construction process considering each and every activity such as sleeper design, prestress segments, abutment construction, pier construction and others for the overall project realization. As per the project requirements and overall project completion time of 3 years were considered for which each of the activity tasks were divided accordingly for each of the projects. A suitable time estimation time was considered for each of the activities by referring to a similar type of bridge construction project.
The project costing for this project will also be somewhere around $ 1500000 as it is quite complex, involving bridge truss design and consisting of additional access roads as well provided for the welfare offices and facilities to be considered for the railway development as well.
Value engineering is the most important factor for every construction project. In this project, the main functional steps like planning, budgeting, bringing raw materials, engaging skilful workers, etc., have been focused in a significant way. This project has not engaged in any unnecessary function. In the current days, the cost of raw materials are rising, and due to this matter, secondary options have to be chosen. In this project, for the slab and foundations, instead of cement concrete, the slabs made of flying ash can be used as they can reduce the cost in a significant way, and its stability is also good for this kind of rail bridge construction. For this project, the unskilful workers cannot be engaged as 8t can be very risky for those workers and the project of construction also. The quality of the works in the project has to be checked on a 15 days interval basis. The focus will only be on the several materials and components to maintain the value of the bridge construction project.
Tasks will be observed for maintaining the quality of the project. The portion of the project where improvement is needed has to be identified and improved in an immediate manner. The workers have to be concerned, and there will be proper leadership to the workers for maintaining the workflow while maintaining the quality (Fenget al., 2021). There will be proper decision making before the project and at the time of processing of the project. The relationship among the workers has to be good for better work.
There are different technologies engaged with sustainability that can be used in the railway bridge project. It may include the sustainability of energy. The site of the light railway bridge in the urban areas can be lighted with solar energy. It is a great system of the project to maintain sustainability.
Green insulation can be another sustainable factor for this project as it can be needed for the project development. For enhancing sustainability, the deck slab of the bridge has to be designed on the arching action (Li et al., 2020). It can help the environmental effect in a significant way. In this project, waste of water can be at a very minimum level for the conservation of the water. The reusing technology will be there for the sustainability in the conservation of the water (CalderónGarcía, P.A., 2017). For the use of gas, this project will use biogas instead of non-renewable gas. This is a great factor for the utilization of sustainable technology for this project.
Green or sustainable technology can be there with the use of sustainability in the economy. It can result the less expense for making the railway bridge. The technology for the construction can be there with the least affecting biodiversity. It will not cut any tree for the construction of the bridge, and this can be a very impactful sustainable aspect for the project. The needless expense will not be there for maintaining the cash flow and budgeting for the project, and economic sustainability can be maintained with that.
A procurement strategy is defined as the plan and process of acquiring all of the necessary resources from efficient vendors among others who can supply Prime quality of goods within the schedule. An efficient procurement process depends upon various factors like available budget, " total cost of ownership"(TCO), probable risks, resource purchasing timeline and more.Procurement strategy primary focus is on lowering the operation of the project. Mitigating and natural expansion of the business are also two significant factors of procurement strategy (Middleton, et al., 2019). There are different types of documents that are available which can be used across different types of organizations, and those strategies are mentioned below.
Before obtaining a new procurement strategy, analyzing the existing spending structure of an organization is required for estimating the practicality of the new system (Wu et al., 2020). detailed data and Facts has to be obtained from the stakeholders, resource suppliers and other related parties of the organization. "Total cost of ownership" can be used to identify and evaluate hidden costs of various operations within the organization.
Analysis of market conditions also gives the idea regarding effective procurement strategy. Estimating the economic condition of the supply market as well as the demand market of a product and services is critical for obtaining an efficient procurement strategy (Yuan, et al., 2021). It is done to analyze the relevance of the products or services within the demand market. In this report The demand of Railway Bridge is needed to be estimated as the passage in urban areas.
"Cost-benefit analysis" (CBA) is used to estimate the cost of a project against its returned benefits. CBA is important for any type of project to evaluate its practicality and feasibility from the user's perspective (Kaewunruen, and Lian, 2019). A typical " cost-benefit analysis" includes tangible benefits and the total amount of project expenses. It calculates " return on investment" (ROI), " non present value"( NPV), " internal rate of return" (IRR), " return on investment"(ROI) and period time. After capturing those values, the difference among the project cost and return benefits is calculated. The general rule of cost-benefit analysis is that the project cost has to be less than 50% of the returned benefits (Mirzaet al., 2017).CBA can be used to evaluate the need for hiring human resources for the effective operation of an organization.It can also be used to evaluate the required changes.In this project, the need of the Railway Bridge can be estimated from different perspective using " cost-benefit analysis".
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