Project Management discussion response 150-200 words with APA citation.

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Business Finance

Please reply to the below discussion with a 150 – 200 word response and a cited source.

Winning the bid to host the 2012 Olympic Games, London was faced with a significant task. London had to turn an uninhabited, wasteland into a stadium. The stadium could not be designed to support any one sport such as track, rugby or soccer. The stadium required 80,000 seats, 25,000 permanent and 55,000 temporaries. The stadium also had to be designed to host a myriad of athletics which make up the Olympic games. Therefore, London was challenged with the Iron Triangle, also known as the Triple Constraint, which are scope, time and cost (Meredith, Mantel, & Shafer, 2017).

SCOPE

The scope was not necessarily to build an infrastructure to host the 2012 Olympics with 80,000 seats. The scope was to design and construct a long-term infrastructure with 25,000 permanent seats and 55,000 temporary seats so the building can be adapted to host the 2012 Olympic games but remain standing and occupied long thereafter (Tramantano, et al., 2015).

TIME

London won the bid in 2006 and had to have it completed in mid-2011, less than 5 years to complete, with groundbreaking construction beginning in 2008.

COST

London allocated £537 million for the project which came in £51 million under budget.

The direct goal was to have a permanent venue in place for longevity which could also be adapted to host the Olympics. Ancillary goals were to clean the waste in which the venue would be built, build infrastructure around the stadium such as roads, railways and businesses and have the venue occupied after the Olympics to pay back some of the money spent on the venue.

The Stadium had a stretched-J project life cycle. Much like the cake example provided by Meredith, et al. (2017) in the text. Once the stadium took form and was completed, the life cycle concluded, there were no needs for the life cycle to tamper off.

References:

Meredith, J. R., Mantel, S. J., & Shafer, S. M. (2017). Project management: A managerial approach (10th ed.). Hoboken, NJ: John Wiley & Sons Inc.

Tramantano, E., Barnwell, D. C., Bishop, J., Jones, G., & Miller, A. (2015). Developing a Program Map: 2012 London Olympics Construction Program. Journal of Economic Development, Management, IT, Finance & Marketing, 7(1), 14–29. Retrieved from http://search.ebscohost.com.csuglobal.idm.oclc.org…