Strategic project management of the Golden Gate Bridge construction

¶ … Golden Gate Bridge

Tim Truitt

GM591 Strategic Project Management

Resources

Core Project Concept and Market Analysis

Costs and Benefits

Project Stakeholders

Project Strategy -- Recommended Courses of Action to Problems or Issues

After completing a project need and feasibility assessment to analyze the project of constructing the Golden Gate Bridge in San Francisco, CA, I have determined that the Project was an excellent example of strategic project management that achieved the targeted goals and benefits. Safety concerns, mechanical concerns, fiduciary concerns, and local concerns have all been sufficiently addressed by Joseph Strauss, and the costs and benefits of the Project are clearly defined along with the Project's scope, risk, and strategy. Project stakeholders (local counties) have been adequately informed of the Project and have supported its implementation with a vote of confidence.

Project Goal

The goal of the Project is to construct the world's longest and tallest Suspension bridge circa 1937 (Kwan, 2007) connecting San Francisco to Marin County. Currently commuters are served by ferry boat. The bridge would facilitate growth around the bay by making travel easier (Young, Griffin, 1957).

Resources

The Golden Gate Bridge and Highway District (incorporated in 1928) gained approval to sell $30 million in bonds to finance the Project, budgeted at $27 million. In 1932, Amadeo Giannini, founder of Bank of America, purchased the bonds in order to facilitate the needs of the economy (FHWA, 2013). These bonds were paid off entirely by 1971.

Costs and Benefits

The costs and benefits are as follows. The cost is $27 million for construction, financed by bonds sold to Bank of America. The benefits are the facilitation of regional growth by allowing easier access to San Francisco from Marin County commuters. The toll charges for using the bridge will retire the principal owed in bonds to BofA plus the $39 million in interest by 1971.

Project Stakeholders

The local counties voted to approve the Project. Southern Pacific Railroad, which owned the ferry fleet, opposed the Project. The suit only led to locals boycotting usage of the ferry. Humboldt County also opposed the Project on the basis of the tremendous flow of traffic that would result (FHWA, 2013).

Project Strategy -- Recommended Courses of Action to Problems or Issues

The safety net has alleviated concerns of workers and strong anchorages have alleviated concerns of designers. The Golden Gate Bridge District was created to oversee construction and finance of the Project. San Francisco has joined this district as well as other counties. This circumvents the displeasure of Humboldt County residents (Gudde, 1949). We recommend that this Project commence without delay.

Conclusion

Well planned projects have sufficient resources, budgeted costs, excellent benefits, and a core project concept that is supported by clear strategy. The Golden Gate Bridge Project meets these requirements and is an example of a strategic project that is well thought out and planned. Its financial concerns have been met by the selling of the bonds to Bank of America. Its core concept has been strategically designed in order to facilitate the construction crew's safety as well as the local citizens' desire for regional growth. The Project is assured of success so long as the strategic plan is followed.