1.Executive Summary (207 words)
2.Introduction (280 words)
3.Project Definition Phase (949 words)
3.1Problems Encountered during the Project
4.The Project Manager (790 words)
4.1Assessment of Kris Hodgkins
5.Risk Management (938 words)
5.1Evaluating Risk Management
6.Miller’s Dilemma (821 words)
7.Final Discussion (398 words)
8.Conclusion (142 words)
Being a successful hotel operator, the Regency Hotel Group (RHG) has the experience, the resources as well as the capability of managing the Regency Plaza Project. So the question is, why has the project been dogged by various problems? From slow sales growth, unhappy customers to increasing costs, internal conflict as well as work delays, the list is extensive.
One major reason for this appears to be poor planning.
With proper planning and project management in place, scheduling and coordination is made much easier. Any arising problems could be identified and resolved which would lead to less time and money spent on rectification. This would in turn enable more time and resources to be spent on the refinement of the works which would result in the completion and success of the project.
The RHG has established a reputation and a brand name associated with good service, luxury and an extensive range of amenities. Failure or even further delays on this project would be detrimental to their reputation.
This goes to show the importance of project management in relation to the organization’s strategic mission.
This report will assess how the Regency Plaza project was managed and implications for future project managers to take note of.
Lewis (2005; P23) mentioned that haste makes waste and it is very true. But in the “hurry up and get it done world”, there is little patience with “wasting time” on all that planning.
The result? Rework and rectification, which is 100 percent waste. Experts estimated that one-third of the cost of the average project goes to correcting errors through reworks. Having said the above, there is still no flawless project process. Why is that so?
This is because we are all human beings, and human beings tend to make mistakes.
In situations where time, cost and resources are of special concern, project managers tend to make more irrational decisions, resulting in more re-work. The Regency Plaza case study is a key example.
So how can these errors be minimized?
What projects managers can do to minimize these errors is to ensure that there is proper planning, project design and project management.
Projects are stepping stones of corporate strategy and its success is the lifeblood of every organization RHG is well known for her luxurious fittings and high service quality in the hotel industry. The Regency Plaza project was formulated using this strategy in the challenging market environment. The role of the project manager (which in this case is Hodgkins), is to take responsibility for the overall success of the project. However, this is not seen in the Regency Plaza project. As indicated, this project has been racked with many uncertainties.
This essay will evaluate the following:
1) The Project Definition Phase of Regency Plaza,
2) The Role of the Project Manager,
3) The Overall Risk Assessment, and lastly
4) The Implications for the Project Manager facilitating the pace of the project.
3.Project Definition Phase
The overall project definition phrase goes according to the following cycle diagram which shows the interrelationship between the 3 stages of project definition.
RHG had a clear goal in mind of what they wanted to achieve in this project development; that is, to develop Regency Plaza. This is their first attempt venturing into building luxury condominiums units together with hotel rooms. The financial aim was to earn projected...