The new¬ Golden Dragon ¬¬Hotel is a to-be-relaunched version of the Yang Sing hotel. This hotel offers forty-eight guestrooms designed to display the culture and look of the Far East and Southern parts of Asia. The hotel is located in one of the most active business street of Manchester. A planned staff spread of around twenty-six employees in total each payed an average of 21,800 USD (dependent on type of job). The hotel also offers a shuttle service to some of the most visited areas in Manchester, free of charge. Next door is the old Yang Sing Restaurant in mutual business partnership with the hotel. This report will consist of the recommended sections a project plan should possess. These sections include a framework, necessary …show more content…
One of the most important parts of this financial plan is that rates be increased on weekends. In the information, it also stated that most customers visited on the weekends. If the prices were increased over the weekends, even if not by much, the hotel could make more revenues. 2.2 Critical dependencies The success of this project depends on a variety of dependencies including the following. Accordance to the Timeline: Proper following and acknowledgement of the timeline is vital to the success of this project. If the project goes overtime, it can cause serious budget mess-ups and furthermore delays. Compliance of the Project Team: The project team must comply with their project managers (and the timeline) or else there can be delays leading to the issues mentioned above. Budget Accordance: The project must stay in budget. This was the problem Yang Sing had when opening their hotel. The hotel itself costs over eight million USD and as the hotel managers did not properly address the market price calls, the hotel lost too much money to continue staying open. If the budget is not heeded in the initial stages, the Golden Dragon will not be able to last long enough to make themselves a place in the market. Quality of the Project Actions: If the project is carried out with full effort there will be less likelihood for a need of reparations in the future which can beneficially save the investing company money and effort. 2.3 Stake Holder Analysis
My partners and I have made a list of areas that might cause the project delays or failure with their respective outcomes. We have listed the risk below that can prevent the project to finish on time.
Describe common practices to estimate the duration of project activities as well as real reasons that cause project delays.
significant investment. The company had not initiated a project of that magnitude for more than a
The question that transcends the project is whether equity investors be sufficiently rewarded to justify there financing interests. The answer to this question is dependent
After the solution has been agreed and funding allocated, a project is formed. The Terms of Reference defines the vision, charter, scope and deliverables for the project. It also provides the plan tree diagram, which is a summarized plan of the activities, resources and funding required to undertake the project. Finally, any risks, issues, planning assumptions and constraints are listed.
3. Increase weekend prices. By increasing lodging prices on the weekends, it will not harm the business traveler base, and increase profits for
The team has stated the project’s objectives, defined deliverables, established milestones and technical requirements, which help define the project’s scope and establish priorities. With the imposed deadline, completion of the project on time should be the project’s top priority and thus becomes the
Enough information should be provided to give sufficient context. However in the Executive Summary this section can receive less emphasis than it might in the overall report so that more attention can be given to the evaluation purpose, design, limitations, and findings. In the main report it should describe the problem being addressed by the project, and the project logic for why it will lead to better outcomes. This could include a logical framework for the project if one exists, and the development hypothesis, or causal logic, of the project or program of which the project is a part.
Based on the original project schedule, it seems that the project could be achieved on time. However, there still is a high possibility that the project would fail to be completed on schedule because of some issues, such as human resource over-allocation, delayed works as of Aug 26 2003, and so on. To make sure that the project could be finished on time, Chris Johnson and
Due to the one month delay, all participants of the project need to meet in one big meeting to set targets, how to catch up the schedule in order to complete the project on time. Everybody at the meeting needs to know how serious the situation is and that everybody has to work harder to recover the lost time. The management of the company can implement awards to give incentives for people who would like to benefit from the extra work.
Project Managers and management seem to be the only people who have knowledge about the roadmap of the project and what needs to be done (Pechau, 2011). The arbitrary timelines being imposed in a top-down way are making it difficult for those who are actually performing the tasks to communicate exactly what, from their level, still needs to be done and the nature of that work. This is impeding an accurate understanding of where the timeline really is and the depth and breadth of the work to still be accomplished.
Projects often can exceed their planned schedule by a certain percentage, sometimes even 50 to 100 percent. Often this is
The business risks for this project could be wasting money on programs that are not very effective, in enhancing employee performance, or
It will also detail what milestones must be met to be able to successfully coordinate effort within the project timeline and meet the inauguration date as planned, without the milling of any other milestones nor the compromising of any nor all deliverables. Finally, it ensures the appropriate risk mitigation is in place to meet the final deliverables and the timeline requirements within every project phase.
In order to attract contract clients from industries, businesses and travel agents we will have rate cut offer for next 10-12 month. The Hotel 's survival in the current time, will be dependent on repeat business. That is why brand must continue to deliver on its quality service with affordable values.