REPORT ON THE PANAMA CANAL EXPANSION PROJECT of Institution Date: Abstract This paper seeks to identify issues on international governance and management that have arisen with the proposal to expand the Panama Canal…
Download full paperFile format: .doc, available for editing
Download file to see previous pages
The project has been rocked with a strike which could threaten the completion of work as scheduled. Contents Abstract 1 Contents 2 Introduction 3 Background 4 Strengths and weakness of the project 6 Findings 7 a.Finances 7 b.Environmental Impact 8 c.Stakeholders 9 d.Governance and oversight 9 e.Risk mitigation 10 f.High level risks and insurances 10 g.International Governance 11 h.Procurement Policies 12 i.Strategic Human Resource Management and HR concerns 12 j.Performance Assessment of the Panama Expansion Project 14 k.Earned Value management 15 Professional Reflective statement 16 Conclusion 16 Recommendations 18 Bibliography 19 Appendices 22 Introduction Many infrastructural mega projects are prone to suffer from cost overruns, delays, poor performance or inability to give customer satisfaction. Interaction of several factors can cause complexities which can either promote success or inhibit it depending on how they are approached. It is crucial for project managers to thus critically analyze a mega project before undertaking it. One such project is the Panama Canal expansion project. Panama Canal is one of the busiest waterways globally. Opened in 1914, Panama Canal is a critical prop of international trade (Gagne, 2011, p. 1267). Nevertheless, the growth of international shipping in the last century and in the present times continues to be hampered by the Canal’s capacity (Gagne, 2011, p. 1267). This necessitated Panama Canal Authority to embark on an ambitious project of expanding the canal. Currently, the canal accommodates vessels of not more than 965 feet (294.1m) in length, 39.5 feet in depth, and a beam width of 106 feet (Sayre, 2010, p. 16). Vessels that can navigate in this canal are known as Panamax and have the ability of can carrying 4000-4500 Twenty Four Equivalent Units. Vessels larger than Panamax are able to navigate in other trade canals which and therefore Panama Canal Expansion project seeks to position the harbor as an international trade channel able to attract bigger ships and therefore enhance international trade and increase profitability. The expanded canal will be able to handle vessels of up to 1200feet in length, 160 feet beam and a draft of 49 feet (Sayre, 2010, p. 16). After completion, the canal will help reduce waiting times and bring down the costs of shipping significantly (Berman, 2006). According to the projections by Panama Canal Authority, canal expansion project is going to result to between 7 to 17 percent savings to shippers due to increased capacity (Panama Canal Authority Announces Expansion Plans, 2006, p. 12). The decision to expand the canal took into consideration various factors that could be affected by its expansion both locally and internationally. This report highlights some of the areas that have been considered since the decision to embark on Panama Canal Expansion Program was made. It will also evaluate the issues of international governance, change leadership, performance and procurement management and human resources issues surrounding Panama Canal expansion. Background The genesis of a canal running across the Isthmus of Panama goes back to 1534. At this time, the king of Spain, Charles V ordered a survey to be carried out in search for a route passing through the Americas that ships traveling Between Spain and Peru could use (Caso & Welsh, 1978, pp.72 . This discovery of gold in California was met with interest to cross between the Atlantic and Pacific
...Download file to see next pagesRead More
Cite this document
(“Report on Panama Canal Expansion Project Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.org/management/1449280-panama-canal-expansion-project
(Report on Panama Canal Expansion Project Essay Example | Topics and Well Written Essays - 2000 Words)
“Report on Panama Canal Expansion Project Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/management/1449280-panama-canal-expansion-project.
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.
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.
Consequently the complexities associated with such business are increasing at a rapid rate. Businesses are facing new challenges almost every single day in their respective field of work while conducting different projects which is affecting their performances significantly.
My visit to Galaxy School was a closely guarded secret as per the instructions of my higher authorities. Even though the school has a good reputation as for the teaching standards, of late, the Education Department of the State had
Both the companies wanted to expand their reach and achieve success, so they started formulating strategies accordingly. As part of their strategies, they wanted to incorporate organizational change by going for merger. That is, as part of the
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
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
3 Pages(750 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Report on Panama Canal Expansion Project"
with a personal 20% discount.