Birds Nest Network Case Study
Project Life Cycle & Events:
The main project construction of Birds Nest Stadium was started in December, 2003 and finished in June, 2008 with a break of one and half year in 2004 due to excessive construction cost (Wei, 2011). However, The Birds Nest Stadium, like all other projects, also had the common life cycle of-
1. Conceptualization- which include the primary target and technical description of this project.
2. Planning- where all the schedules, specifications and plans were developed.
3. Execution- the implementation of the project starts in this stage.
4. Termination- when this project was handover to the customers and closed the project.
Date Milestones
October 29- November 20, 2002 Design Competition
March 25, 2003 The design of …show more content…
At first the project was given to construction companies like China International Trust and Investment Corp. (CITIC), Beijing Urban Construction Group (BUCG), the private Golden State Holding Group of the United States and Guoan Elstrong from Hong Kong, an affiliate of the CITIC Group after having an open bidding process for nine months (Wei, 2011). As per the agreement, public sector hold 58% share and companies were supposed to handing it over to government after 30 years (Wei, 2011). This type of agreement holds a huge risk for the …show more content…
Source: (Wei, 2011).
However, with huge pressure and financial challenge, all these risks were overcome by the project managers by applying the following risk mitigation strategies:
1. Accept
2. Minimize
3. Share
4. Contingency Reserve : Task Contingency & Managerial Contingency
5. Mentoring
6. Cross Training
Applying all these strategies successfully was an easy task. Further, the risk management process also had to include evaluation like: o What is likely to happen? o What can be done? o What are the warning signs? o What are the likely outcomes?
Project Risk= (Probability of Event) (Consequences of Event)
Considering all these strategies, the Birds Nest Stadium project finally launched and became a huge success and a profitable business for the government of China. Government as well as the construction companies took a challenging project and ultimately made it success. Although, it included a huge risk and criticism as a large project, it overcame all those and is functioning great up until the
The main project construction of Birds Nest Stadium was started in December, 2003 and finished in June, 2008 with a break of one and half year in 2004 due to excessive construction cost (Wei, 2011). However, The Birds Nest Stadium, like all other projects, also had the common life cycle of-
1. Conceptualization- which include the primary target and technical description of this project.
2. Planning- where all the schedules, specifications and plans were developed.
3. Execution- the implementation of the project starts in this stage.
4. Termination- when this project was handover to the customers and closed the project.
Date Milestones
October 29- November 20, 2002 Design Competition
March 25, 2003 The design of …show more content…
At first the project was given to construction companies like China International Trust and Investment Corp. (CITIC), Beijing Urban Construction Group (BUCG), the private Golden State Holding Group of the United States and Guoan Elstrong from Hong Kong, an affiliate of the CITIC Group after having an open bidding process for nine months (Wei, 2011). As per the agreement, public sector hold 58% share and companies were supposed to handing it over to government after 30 years (Wei, 2011). This type of agreement holds a huge risk for the …show more content…
Source: (Wei, 2011).
However, with huge pressure and financial challenge, all these risks were overcome by the project managers by applying the following risk mitigation strategies:
1. Accept
2. Minimize
3. Share
4. Contingency Reserve : Task Contingency & Managerial Contingency
5. Mentoring
6. Cross Training
Applying all these strategies successfully was an easy task. Further, the risk management process also had to include evaluation like: o What is likely to happen? o What can be done? o What are the warning signs? o What are the likely outcomes?
Project Risk= (Probability of Event) (Consequences of Event)
Considering all these strategies, the Birds Nest Stadium project finally launched and became a huge success and a profitable business for the government of China. Government as well as the construction companies took a challenging project and ultimately made it success. Although, it included a huge risk and criticism as a large project, it overcame all those and is functioning great up until the