The Targeted Success for the Proposed Project
Public health is a global concern. Most institutions recognize the need to integrate transformative research on this field. The incidences of lifestyle diseases in Australia are notable. These include health complications such as obesity, diabetes and heart related conditions. At Sydney University, the importance of establishing a contemporary CODCD centre is eminent. The centre is projected to play several significant roles. As indicated, it is supposed to be a potential collaboration, research and training centre. The basic focus of the proposed project is to support systems and develops capacities (Koulizos 2012, p. 23). The proposed project is to be a multi-disciplinary centre, enabling constructive public health research. It is also expected to increase the level of partnerships and collaborations. Particularly, this project will assist in knowledge transfers and capacity building.
There are potential job opportunities to be created. An efficiently managed and operational CODCD centre can generate remarkable revenues for the federal government. The centre shall aim at transforming intellectual discoveries into potential solutions. Indeed, it shall have positive impacts both at the domestic and global levels. The centre shall host both clinical as well as population research. The proposed project is also expected to develop and reinforce effective collaborations (Davies 2012). The University’s existing rich network shall be a better platform form for increased development. Medical research organizations will also be other potential partners of the proposed CODCD centre. Generally, the centre shall remain as an intersection point for the fight against lifestyle diseases. These enlisted operations constitute the expected success factors for the proposed project.
The Business Environment for the Proposed Project
The proposed project is to be located in an area with great business potential. Generally, the Sydney’s economy remains strong. Apart from being versatile, the area also has very reliable infrastructure. Many people have recognized the great business potential in Sydney (Siddique 2007, p. 23). It is a thriving centre for commercial activities. Because Sydney is an identifiable global city, it shall provide an amiable habitat for international investors and partners. This means that even international developers are able to bid for the tender. The strategic location of the area is obvious. This is because it is the capital city of State of “New South Wales,” (NSW).
The city’s strategic location as a gateway to the rest of Australia as well as the Asia Pacific is important. The proposed CODCD building will enjoy a large pool of potential workers. A majority of the population within this area is highly skilled and educated (Higgins1998, p. 45). There are approximations that about 57 per cent of this population have attained tertiary education. Analytically, this area perhaps provides the most highly educated persons within the greater Australia. Evidently, NSW has a comparably larger economy relative to those of Hong Kong and Singapore. The area also caters for a third of the larger “gross domestic product” for Australia. The proposed project is to be located within the city. This shall provide competitive offices and other associated services.
The building shall also have the capacity to host international guests and develop global partnerships. This shall occur with minimal interruptions. This aspect is largely attributed to its strategic location. Observably, approximately over 600 multinational corporations presently have their headquarters within this city (Attard 2010). This may be due to the flexible and effective regulatory system notable in the government. This makes it simple to initiate and operate any legal business. It is imperative to indicate that the proposed project is likely to operate in a highly competitive business environment. The graph below shows the trend of costs for various building materials in Australia.
Factors Likely To Affect the Project
The client
The proposed location for the CODCD project is critical for client attraction. Sydney harbours a lot of people from diverse cultural backgrounds. Because it is a capital city, the Sydney is a home for several people from different global destinations (Davies 2012). It is noteworthy to indicate that the proposed project is expected to serve the international community. Therefore, its intended operations must consider various multicultural concerns. This consideration shall ensure adequate client satisfaction. Additionally, the client base is expected to expansively grow. One of the critical services to be offered includes academic training. Apart from this, the centre shall offer capacity building and knowledge management to most medical staff. Indicatively, this will occur within the expansive local and global community. The basic implication is that there must be crucial consideration of the quality service standards (Siddique 2007, p. 35). The construction processes must also provide room for the different social groups and categories of clients. Most people suffering from notable lifestyle diseases will also be part of the client population. The constructions and operations must present provisions for basic services for the disabled clients.
The Procurement Approach
The intensive construction operations in the proposed project require a strategic methodology for procurement. It is also evident that the operations within the centre shall largely depend on a robust system for procurement. Therefore, all responsible teams must identify and employ transformative approaches to procurement. These considerations enable effective operations and completion of contrition and management tasks. The utilization of advanced technology is appropriate (Isbister & Bryant 2008, p. 20). This should be coupled with a high system for monitoring and evaluation. Particularly, all the procurement processes must be effectively monitored and recorded. This is important in alleviating instances of theft, material and monetary loss. Procurement entails the processes undertaken to obtain and convey raw material and service to the appropriate consumers.
The team involved in the development will ensure the extraction of maximum gain from the process of procurement. Ideally, there should be direct savings on the expenses. This must be attained through reduced prices. Value additions can also be applied to reinforce the existing procurement efficiencies. The application of procurement procedures such as freight efficiencies and visibility is critical in enhancing the successful operations. Relevant technologies must accompany the strategic procurement methodologies. An explicit explanation for all the costs to be incurred in acquiring the building materials is necessary (Siddique 2007, p. 50). Of course this involves all the raw materials, engineering works as well as the necessary fitments. These observations necessitate a comprehensive and strategic approach to procurement process.
The Project Location and the General Physical Environment
Observably, the proposed project location lies within a busy town environment. There is adequate transport network within the proposed area of location. Notably, the presence of other high rise buildings within this area provides an ambient environment for the location. The physical planning codes for the city provides effective benchmarks and control regulations for the development control process. The city of location provides ambient habitat for a large population. There is an adequate human resource and skilled personnel within the city. The presence of modern infrastructure and social amenities is important (Isbister & Bryant 2008, p. 31). The readily available information technology might be applicable to enhance the delivery of efficient services. The proposed development is uniform and fits the development control regulations stipulated by the physical planners. The area is dominated by high rise buildings and highly developed physical infrastructure. The nearby train station and airport offer crucial transport infrastructure. Generally, the proposed site of the project provides the best location and physical environment.
Micro and Macro Economic Factors
Exchange Rates
Sydney city enjoys the relatively stable Australian economy. The exchange rates are notably hospitable for global investors (Wang 2009, p. 12). Observably, the Australian dollar still holds a remarkable bargain within the international domain. This observation is likely to influence the proposed project in many ways. For instance, it might attract many international travels and negations within the centre. Consequently, this observation is bound to increase the capacity for global partnerships and operations.
Inflation
The high level of inflation noted in Australia and the NSW capital city is likely to have an important impact. The prices of basic commodities have increased (Nieuwenhuysen, Lloyd & Mead 2001, p. 61). The real estate has also been grossly affected by this high inflation rate. It is important to indicate the impact of high inflation on the development and operation of the CODCD centre. The acquisition of all building materials is likely to consume huge portion of the budgeted cash. The high inflation rate will also increase the wages to be given to the hired workers. In construction phase, the project team must adequately plan to meet the high wage demands from the casuals and skilled manpower.
Interest Rates
The transformations in the trend of interest rates charged by most Australian banks remain notable. The weak economy has been identified by most economists and policy makers. There has been greater attention on the commercial banks. The tough economic times have forced these commercial banks to significantly cut off their interest rates. The real estate sector has also remarkably transformed in this aspect (Isbister & Bryant 2008, p. 54). Basically, the interest charged on the mortgage has reduced. This trend is notable even in 2012.
Employment
The high inflation rate is likely to raise the amount of wages to be paid to all the workers. This is irrespective of whether they are skilled or not. On the other hand, there is readily available labour for the proposed project. The presence of highly skilled personnel in the city is observable (Davies 2012). Basically, it is indicated that the city provides a habitat for the most highly educated personalities in Australia. The intended global operations would also necessitate out sourcing critical human resource services. In this initiative, the neighbouring countries and states provide a better and potential niche for human resource. The University is also set to provide a potential source of manpower. This is notable during both the construction or development and operation stages. The graph below indicates the employment trends in western Sydney, Australia.
General Issues Likely to Affect the Proposed Project
Generally, Australia experiences an adequate state of political stability. This provides an ambient room for international investment, smooth business operations and growth. There are less stringent government policies regarding property development and investment. The environment within NSW provides a great condition for business growth and development. The government is democratically instituted. The federal government provides sufficient incentives and protection for massive property developers. This trend is also observable at the state level (Davies 2012). The city comprises of people or occupants with a multicultural background and orientation. This offers an appropriate platform for the acceptance of different personalities and cultures.
Ideally, the foreigners are able to enjoy their stay, work and intermingle expansively with the natives. The city occupants are generally sociable, charming and welcoming. This is a positive culture that is capable of promoting effective development and performance (Lenskyj 2002, p. 67). All developments within specified locations must meet the technical requirements outlined by the relevant state and federal agencies. The increased awareness of labour laws and processes within the area is notable. This implies that employee welfare must be adequately met. Generally, the construction industry is competitive and high skills and technical capacities are appropriate amongst the various intended project teams. The demands from both internal and external stakeholders must be adequately addressed.
Conclusion
The proposed CODCD project has several benefits for the university. The surrounding community and the global society are also set to benefit immensely. However, it is vital for various project teams to observe the impacts of the highlighted factors. To ensure project success, these factors must be adequately understood and factored in. Sustainability of the project must also be considered.
List of References
Attard, B 2010, The Economic History of Australia from 1788: An Introduction, Web.
CIE, (Centre for International Economics) 2009, Creative Industries Economic Analysis, Web.
Davies, G 2012, How is NSW growing? Part 3: Sydney’s employment growth 1996 to 2006, Web.
Higgins, H 1998, Employment without inflation, Transaction Publication, New Brunswick.
Isbister, H & Bryant, M 2008, Property: land your dream job!, Career FAQs, Ultimo, N.S.W.
Koulizos, P 2012, The Property Professor’s Top Australian Suburbs a Guide for Investors and Home Buyers, John Wiley & Sons, Hoboken.
Lenskyj, H 2002, The best Olympics ever?: social impacts of Sydney 2000, State University of New York Press, Albany.
Nieuwenhuysen, P, Lloyd, P & Mead, M 2001, Reshaping Australia’s economy: growth with equity and sustainability, Cambridge University Press, Cambridge, UK.
Siddique, B 2007, Regionalism, trade and economic development in the Asia-Pacific region, Elgar, Cheltenham.
Wang, P 2009, The economics of foreign exchange and global finance, Springer, Berlin.