MAN133 Assignment Sample – International Business Issues and Practice 2022
The Project management is essential as it ensures that risks are handled appropriately to mitigate and to prevent problems. Effective project management practices enabling project managers to assess thoroughly, quantify and prepare a mitigation strategy for all future project challenges and to create an action plan towards them.
Jadar rare deposits in the vicinity of “Loznica in Serbia “, which contains “jadarite – a new sodium mineral lithium”. Jadar is the world’s “only spot that can only be contained in that mineral. “Jadar” has been classified as one of the world’s most important lithium reservoirs, which, if created, will provide a considerable share of the “global lithium and boric” acidification market.
In order to produce “lithium carbonate and boric acid inside the mined ore Rio Tinto” is developing a modern, revolutionary technique. A multinational team of experts from Rio Tinto has established a small-scale testing facility at “Rio Tinto’s Bundoora, Melbourne, Australia”. So far, over 2,000 studies have been conducted to ensure the best mineral method for industrial chemicals extracted from Jadarite ear.
To date “Rio Tinto” has, after all, thoughts, contributed and pledged over “US$450 million” to the project. Here we will evaluate the project process of planning, risk management and other processes.
It is the process of the work that will be leading the team to get and achieve the aim as well as meet the criteria of success that is specified in that time. The main objective of the company is to for project management is to achieve the goals of the project within the margin that is provided by the company (Demirkesenand Ozorhon, 2017).
All the information is described in the documentation of the project, which is generally created at the beginning of the project development process. The major constraints of the projects are the scope of the project, time limitation of the project and the overall budget of the process.
The secondary constraints are the optimization of the allocation of the necessary and important inputs and then applying them to manage and meet the objectives that are predefined by the company before the start of the project. The main objective is the production of the complete project that is required by the clients (Demirkesenand Ozorhon, 2017).
There are instances where the objective of the project management is to change the proposed objective or reshape the brief of the client to address the objective of the client feasible. After the understanding of the client objective, the decision of all the people working for the project is influenced. There are generally five processes of production management.
Initiation: This process is the first step, and it determines the natures and the scopes of the project. It is very important to perform the stage well (Radujkovićand Sjekavica, 2017). Otherwise, the project will not be successful, and a further meeting with the client is required for the clarification of the objectives. The initiation should have a proper plan which includes the scope of the project, PBS project breakdown structure, project proposal, work breakdown, RACI roles and responsibilities aligned to deliverables etc.
Planning: In this stage, the project is planned to the proper levels of details. It includes the plan of cost, time and the resources that are required to complete the project (Radujković, and Sjekavica, 2017). This planning increases the chances of accomplishing the aim.
Execution: For proper execution, the planned terms has to be cleared to the team. This phase ensures the delivery of the executed plan. This requires proper coordination, allocation and human resource management (Mülleret al. 2019).
Monitoring and controlling: This process is very important as it observes the execution of the project to deliver the proper project. If any problem arises, this is the process where it is identified and informed to the management so that they can take appropriate measures to eliminate the problem (Müller et al.2019).
Closing: It means the end of the project by completing all the process and documentation. The phase includes contract closure and project closure.
Challenges of the project management
- Clear objectives and benchmarks for achievement
- communication problem
- Problems in budgeting
- The team members have insufficient expertise
- Mismanagement of risks
- Failure to be responsible
- unrealistic timing of the project
The planning is the part of the project management the company is doing (Papke-Shieldsand Boyer-Wright,2017). There is variant software that is helpful nowadays, but mostly the project planning is done manually. Project is the pervasive management of the company, which is accomplished by all the levels of the project hierarchy, detail, the difference in scope and level of the effort. The process is oriented as per the output.
It decides in advances all the necessary questions and actions required to finish the aim of the project. Planning makes the base for the future actions of the project using the history of the experience as a guide. The process of planning involves “inductive problem solving” (Papke-Shieldsand Boyer-Wright,2017). After setting the clear objective of the project, all other activities are planned by the manager of the project.
The manager will decide the equipment required, supplies, raw materials, facilities and skilled labor. When all is decided, then the purchase and the hire of the appropriate materials and workers are made. The management process for the whole project will be by the internal managers, and the acquisition of the resources would be generally external (San Cristóbalet al. 2018). The two external categories which concert the project planning includes the organizational environment and the external environment, which will be outside of the company.
The manager does not control most of the environment variables that are outside of the project and even within the firm. The proper planning helps the manager to influence the budgets and the allocation mechanism of the resource. The manager also does not have control of the organizational climate generally as well.
Again, with proper planning, the possibilities of influence are there to minimize the impact on the project (San Cristóbalet al. 2018). The internal variable includes the competition of the firm in the market, government regulations, social constraints and technological change. Thus, the planning is very critical for the completion and success of the project.
All the variables are important for the project for completion, and the control is not possible for all the variables (Bond-Barnard et al. 2018). the planning makes the project successful.
A project risk is an unanticipated event or situation that, on the off chance that it occurs, affects, at any rate, one project objective. Extension, schedule, cost, and proficiency are instances of goals. A weakness can have at least one trigger, and it can have at least one outcome on the off chance that it occurs (Miningnews.net. 2021).
A need, assumption, cut-off, or condition that creates the likelihood of a negative or positive outcome is alluded to as a trigger. For instance, an explanation might be that the project requires a license or that there are only a couple of individuals relegated to it. The risky occasion is that the grant will take longer than expected, or that the labourers will be inadequate for the work.
On the off chance that any of these dubious occurrences occur, the project’s cost, timetable, or yield might be influenced. Parts of the projected climate that can prompt project risks, for example, frail project the executive’s methodology or dependence on outside entertainers that cannot be overseen, are instances of risk conditions (Dvir et al. 2017).
The point of project risk to the executives is to decrease the odds of the project and its accomplices neglecting to meet their objectives, just as to perceive and exploit openings. Risk evaluation, specifically, helps project chiefs put forward objectives, assign workforce, and execute exercises and methodology that lessen the risk of the project neglecting to meet its objectives.
There are three keys to effectively dealing with project and procurement risk:
- Early and complete distinguishing proof, examination, and appraisal of risks, just as the formation of risk the executive’s plans.
- Relegating risk the board obligation to the gathering generally fit to do as such, which could incorporate presenting new approaches, cycles, or structures or conceding to fitting legally binding arrangements.
- Guaranteeing that the expenses of risk decrease are relative to the project’s worth and the risks implied (Zwikael and Globerson, 2020).
The accompanying things are remembered for the structure of project risk management:
- Request, rivalry, innovation, monetary and monetary conditions, government and political pressing factors are on the whole instances of business risks that may affect the undertaker’s benefit.
- All risks that may influence the project’s cost, timetable, or productivity are remembered for project risk.
- The two dangers that may affect the plan, acquisition, development, appointing, cycles, and fix works on, including critical perils and disastrous mishaps, are remembered for the creation and preparing risks.
Partner support is the interaction of deliberately recognizing, dissecting, planning, and executing exercises pointed toward impacting partners. A partner cooperation approach perceives key gatherings’ inclinations, and the support has a significant impact in guaranteeing that requirements are tended to (Seenews.com. 2021).
People or associations with contribution or position in the drive, program, or plan, or who are influenced by it, are alluded to as stakeholders as a rule. Stakeholders can be found both inside and outside the organization that is subsidizing the drive, administration, or portfolio. Stakeholder contribution and stakeholder management are maybe the most basic parts for successful project execution; however, they are frequently ignored or moved to the same old job.
Individuals should adjust to the yields and advantages that project directors offer (Aven and Renn, 2018). Individuals can answer just in the event that they are intrigued.
To engage the stakeholders there some key points to be considered:
It is critical to consider individuals you’ll manage and zeroing in on during the project lifecycle prior to endeavouring to associate and affect stakeholders (Zwikael and Globerson, 2020). It is basic to impart information to stakeholders; however, it is additionally basic to initially assemble data about the stakeholders.
Early, consult and often:
A project’s purpose, scale, dangers, and procedure, for instance, can be misty to its stakeholders, especially in its beginning phases (Aven and Renn, 2018). Early and progressing discourse is basic to guarantee that determinations are settled upon and that a conveyance approach that is acceptable to most of the stakeholders is arranged.
Stakeholder support should take a more insightful and determined methodology, which is the reason it is invited. Before including accomplices, industrious arrangement will give generous advantages.
Stakeholder support is not the obligation of a solitary project group director. It is everybody’s obligation to consider their position and utilize legitimate correspondence and connection strategies (Samimi, 2020). Stakeholder interest capacities and commitments, just as what is expected of those partaking in the project, should be explained for acceptable project administration.
The change point of view on activities gives the project reasoning. A project is seen as an interpretation of contributions to yields from the change point of view (project, R., 2021). The management of a project depends on a bunch of ideas. These rules propose, for instance, separating an enormous change into more modest changes, or tasks, and lessening the expense of each errand independently.
Management at the stage of the task is viewed as comprising the turn of events, audit, and execution of plans in management-as-planning. This management approach expects a direct causal connection between management choices and hierarchical results (Willumsen et al. 2019). The dispatching model recommends that planned errands can be finished by sending an agent a notification of the assignment’s dispatch.
Rio Tinto has approved an almost $200 million venture to propel the lithium-borate Jadar project in Serbia to a higher degree of development (Trojanowska and Dostatni, 2017). This cash will largely go into the possibility report, which will incorporate the execution of complete specialized plans, just as allowing land obtaining before the finish of 2021, as arranged.
Jadar Mineral Resources are assessed to be 136 million tons. Throughout the long term, broad mineral body data studies and understanding have reinforced trust in the scale and organization of the Jadar metal body. Rio Tinto expanded the Jadar Mineral Resources to 136 million tons in March 2017 inconsistent with global necessities – JORC. A piece of the asset has been recorded as Indicated interestingly.
Surmised assets are additionally utilized in the asset. Jadar is a significant wellspring of borates and lithium, with all-out identical borate item supplies of 21Mt B2 O3 and comparable lithium item assets of 2.5Mt Li2o.
“Rio Tinto’s lithium project pipeline is a significant part of the organization’s vision to investigate possibilities that are important for the way to a low-carbon future,” said Rio Tinto Energy and Minerals Chief Executive Bold Baatar (Mahmoudi et al. 2020). Throughout the following eighteen months, the organization anticipates working intimately with the Government of Serbia to assemble and confirm our perspective on the project to the point that the organization will acquire the last venture choice from Rio Tinto’s Board of Directors.”
The Jadar store has high-grade boron and lithium mineralisation, taking into account a drawn-out activity in the principal quartile of working expenses for the two materials. Rio Tinto geologists tracked down the uncommon mineral Jadarite close to the city of Loznica in Western Serbia in 2004.
In February 2020, the organization closed the broad investigation of the Jadarite store. The discoveries of the boring effort are right now being coordinated into a geographical model update. This update would make it simpler to pronounce a JORC Reserve as a feature of the possibility survey, just as present an Elaborate on Reserves in accordance with Serbian mineral law (Prantl, 2020). An underground a modern creation plant, all connected offices, and mine are all essential for the project.
The plant can give an enormous number of end-mechanical lithium batteries for electric vehicles and energy storerooms to the remainder of the world. Borates, which are utilized in the creation of cleansers, beautifying agents, and other family items, will likewise be provided.
Rio Tinto has additionally started charging work on its lithium show project in the United States, which separates lithium from squandering rock at its Boron mine in California. This plant will fabricate 10 tons of lithium carbonate each year, which is utilized in battery-powered batteries for electric vehicles and purchaser gadgets.
Serbian and unfamiliar experts in various fields, from mining to handling to urban communities, will keep on propelling far-reaching designing and plan of the underground mine, preparing plants, and supporting offices, just as significant authorizing, during the Feasibility study period (Uribe et al. 2018). Finishing mechanical, social, and financial examinations is often expected to evaluate the Project’s attainability.
Detail hierarchical plan, inventory network and provider connection, and management framework configuration are completely finished in view of things to come. Serbian capital BELGRADE, March – The Serbian government declared that a spatial arrangement has been produced for the advancement of a lithium borate revelation and handling project by British-Australian mining organization Rio Tinto in the Jadar waterway valley.
The public authority said in a notification distributed in Serbia’s State Gazette on Friday that the spatial arrangement was readied dependent on examinations and reports from Rio Sava Exploration, an auxiliary of Rio Tinto, which holds the license for topographical investigation for boron and lithium at the Jadar store (Aubry et al. 2018).
As per the spatial arrangement, the mining tasks zone will involve 854.8 hectares, the rural exercises zone will cover 646.5 hectares, and an aggregate of 358.5 hectares will be utilized for modern garbage removal, access streets, and supporting offices. The geological arrangement covers 293.9 square kilometres in the western Serbian regions of Loznica and Kranj.
As indicated by energy serve Aleksandar Antic, Rio Tinto plans to burn through $1.5 billion (1.3 billion euro) in the project and start delivering jadarite, an uncommon mineral that contains both lithium and boron, before the finish of 2024 or the start of 2025. In 2004, the mining organization discovered a lithium borate mine in the Jadar stream valley.
The lithium saves in Jadar are assessed to hold 10% of the world’s lithium stores, which is the primary crude material used to make batteries for electric vehicles. The weighted normal grouping of lithium oxide in the Jadar lithium borate disclosure in Serbia is projected to be 1.86 per cent. Jadar Resources is framing another ASX-recorded firm to house its Serbian lithium and borate holds, with copper maker Sandfire Resources as one of its foundation financial backers.
Balkan Mining and Minerals will focus on the immature Rekovac project, which Jadar will hold an openness to through a 22 per cent stake in Balkan following the proposed IPO. Sandfire’s $2 million speculations would give it a 22% stake in the new pursuit. Balkan will be going by non-leader director Sean Murray, a previous Rio Tinto Borax vice president-chief (Barão et al. 2017).
The way to Jadar’s development is worldwide participation. A project of this nature requires solid coordination. To rejuvenate the project, worldwide specialists from geography, disclosure, mining, measure configuration, project management, promoting, urban communities, and different fields are cooperating. This organization shows Rio Tinto’s capacity to seek after greenfield adventures like Jadar because of its expansiveness of skill.
The underground Jadar mine’s tailings removal site would purportedly be between the streams Jadar and Korenita, which sporadically flood the encompassing territory, persuading that the radioactive waste will wind up in the Drina, at that point the Sava and Danube.
As indicated by tree huggers from Serbia, the Banja Luka Center for Environment has mentioned the beginning of a system in BiH to evaluate the transboundary impacts of potential lithium metal mining and preparation in the Loznica area across the boundary (Rasnacis and Berzisa, 2017). Rio Tinto will decide if to mine jadarite in a year’s time.
Water pollution issue
Another worry, as Mr Mijatovi calls attention to, is that the exhuming interaction has effectively fomented submerged waters, bringing about the presence of saltwater. Mr Mijatovi illuminates Emerging Europe that notwithstanding the metal, salt water will be mined from the mine at a pace of 942,000 tons each year, or around 2,800 tons each day, with a salt substance of around 30 grams for every litter (Wei and Miraglia, 2017).
This is a test since researchers accept that since saltwater is available in the stone pores, it is hard to forestall consumption because of the siphoning out of the water. The greatest issue made by the mine, as per professor Dragana Levi, top of the Center of Excellence in Environmental Chemistry and Engineering, will be the irreversible loss of rich land that can never be utilized for horticulture again.
Many tailings would be an eco-compound delayed bomb, cleaning out and spreading toxins to prolific soil and water affected by precipitation, especially corrosive downpour. It cannot be to Serbia’s greatest advantage. Saving unpolluted and unharmed seas is substantially more significant than this technique for mining (Demirkesen and Ozorhon, 2017).
Serbia’s water supply is as yet a worry, and numerous examiners accept that further mining activities will heighten the issue. They say that the proposed lithium mine would affect drinking water sources too.
An enormous piece of Vojvodina is progressively running out of drinking water because of serious oil extraction in Banat that has caused critical pollution of underground water. Professor Levi expresses that Vojvodina, Mava, and even Belgrade could confront significant water lack issues later on.
In spite of the fact that popular assessment in the space is unequivocally against the mine, and experts have cautioned of the potential risks, Rio Tinto officials have expressed that they view ecological concerns appropriately (Dvir et al. 2017). They say that the waterways Jadar, Drina, and Sava will not be tainted and that the organization will spend more than $100 million in ecological assurance.
As per an assertion delivered by the association following an exhibit against the mine in Loznica on April 9, the most elevated natural security prerequisites will be followed and carried out as per Serbian and EU guidelines.
In view of the immense amounts of cash in question, and in light of the fact that lithium demand is required to rise, the Serbian government has made lithium mining one of its main concerns (Hartman and Ashrafi, 2019). Notwithstanding, what amount of lithium is right now present at the Jadar site.
The level of 10% of worldwide inventory is not generally acknowledged. As per logical writing, the inventory is a lot more modest, and some distributed information assets that the site holds are simply 1.4 per cent or less of the world’s lithium supply, as indicated by Professor Orevi.
Serbian President Aleksandar Vui said recently that the shows against jadarite make him “bite the dust of chuckling,” adding that Serbia comes up short on an ocean or other common assets that could pull in a large number of euros in income.
This megaproject is conducted to generate opportunities in business industries also in the country, for that the government is the basic stakeholder of the project. Therefore, the way to Jadar’s development is worldwide collaboration. A project of this nature requires solid coordination (Zwikael and Globerson, 2020).
To rejuvenate the project, global specialists from geography, revelation, mining, measure configuration, project management, advertising, urban areas, and different fields are collaborating. This organization shows Rio Tinto’s capacity to seek after Greenfield adventures like Jadar because of its expansiveness of skill. Rio Tinto’s way to deal with maintainable supportability benefits all stakeholders.
Rio Tinto’s arrangement of putting resources into long-life, minimal effort, expandable activities requires long haul planning.
These drawn-out responsibilities permit us to plan, execute, and accomplish long haul commitments to social prosperity, ecological stewardship, and financial development in the entirety of our tasks. We are devoted to framing long haul connections (Mahmoudi et al. 2020).
The Jadar Project is committed to building awareness, long haul, and commonly helpful organizations with landowners and the neighbourhood local area, just as the Serbian government and different stakeholders, both now and later on.
Rio Tinto and the Government of Serbia have marked a Memorandum of Understanding (MOU) for the improvement of the Jadar Project. The MOU would empower the public authority and the organization to shape joint working gatherings to move the Jadar Project through the examination and permitting stages as per the enactment.
Rio Tinto is building the Jadar project in Serbia, which is connected to a-list lithium-borate mine. Whenever set up, the business could meet a huge bite of the world’s interest for lithium and borates (Prantl, 2020). Lithium and borates are significant for the human turn of events and are important structure blocks for present-day life.
They’re utilized to make fundamental things like electric vehicle batteries, glass and pottery, manures, and an assortment of different things. The project is presently in the centre phases of improvement, with tasks set to start in 2023 if possibility tests are positive and all imperative endorsements are obtained.
Rio Tinto Energy and Minerals CEO Bold Baatar, who visited the project site in Serbia recently, said the organization sees Serbia as an ideal venture objective and that the Jadar project is a significant piece of the organization’s advancement portfolio. Planning and carrying out a project of this size requires some investment and experience (Mahmoudi et al. 2020). Just with the help of the Serbian government and the neighborhood local area would we have the option to accomplish our objectives.
All together for our home-grown economy to develop similarly, it is imperative to start monetary development at the neighbourhood level, and the Jadar project will altogether add to the advancement of Loznica and the whole nation, said Serbian Prime Minister Ana Brnabi, who met with Rio Tinto agents prior to going to the marking of the MOU.
Aside from financial measurements, the drive includes homegrown and global experts who consider ecological preservation, without whom further improvement is unthinkable. Rio Tinto has put $US90 million in the Jadar project up until now, with improvement expected to start in 2023, affirming the project’s drawn-out nature and security (Barão et al. 2017).
Expanded interest in Serbia speeds up the financial turn of events, which is a precondition for upgrading the personal satisfaction of every inhabitant, which is the Government of Serbia’s most significant mission. Minister of Mining and Energy Aleksandar Antic, who signed the MOU on behalf of the Serbian government, said:
“Rio Tinto has invested $US90 million in the Jadar project so far. Further and I expect that the signing of the MoU would accelerate the activities related to the process of opening a mine and the start of lithium extraction, which will have a significant impact on Serbia’s growth.
By conducting this project, it’s being clear that in the country Serbia the Rin Tinto company and the Serbia government are conducting the Jadar lithium mega project in-country to create opportunities and expand the business industries. Nevertheless, during the project the local government and the company face some issues, such as the company face the mining issue because the pipeline is going side by side of the river so the company face water-harvesting issues.
Due to these reasons, the local people’s tri to protest and stop the mining work for a while. On the other side, the government face environmental issues because of the company’s heavy duty mining work. To resolve all the issues both government and company management imply some strategies and try to complete the work.
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