The Morant Bay Urban Centre in St. Thomas is a major land development project spearheaded by the Ministry of Economic Growth and Job Creation, through the Factories Corporation of Jamaica (FCJ). The first of its kind to be built in Jamaica, the project so far has been plagued by long delays in its rollout, mostly due to the COVID19 outbreaks.

The projects location is former Good Year property and adjacent lands and is slated to cost about $6 billion. This centre will serve Morant Bay's commercial, industrial, and economic needs. Under the contract with China Harbour Engineering Company Limited (CHEC), 80 percent of the labour force must be Jamaicans and reside in the area.

Project managers assigned to this project are expected to manage the effective and efficient delivery of this venture. Key areas of focus will be planning, executing, and monitoring.

Question # 1

With relevant references and citations, develop a conceptual project budget for a section or phase of the project and explain how the project cost can be monitored and controlled. Also, identify five (5) opportunities and three (3) threats to this project.