Regency Plaza Case Study

This report is a Tutor-Marked Assignment (TMA) in Fundamentals of Senior Management, submitted as part of the requirements for the Master of Business Administration (MBA) Degree program at The Arab Open University (Oman Branch). Specifically, it deals with a case study involving an analysis of the construction of Regency Plaza. This report presents an analysis of the construction of Regency Plaza. Specifically, 1) We explain the role of the project manager, and discuss the functional areas that encompass at each stage of the development process. 2) We more specifically, evaluate the elements of cost, and explain how it is negotiated as well as contracted. 3) We recommend an action plan for Hodgkins and explain best suited incentives.
Risk assessment: " evaluating the risk to assess the range of possible outcomes in relation to the project and the potential impact of each of these" (AOU, 2013, session)
In the case of Regency Plaza, last minute design changes, incomplete design and increasing number of specialty items and unusual details made the project too difficult. Moreover, manpower deployment and requirements, internal layout of the condominium units and cost will change the schedule project. (Poorvu, Crum, 2008)
3. Risk respond development: developing plans to have in reserve to reduce the impact of the risks to ensure that these plans are implemented when necessary. (AOU, 2013, session 1)
Hodgkins made assumptions that minimal changes would be anticipated throughout the project. She assumed that the buyers would be given an allowance to use towards the purchase of these items. As we see the design change regarding many modification such as electrical, mechanical, plumbing, or fire safety system. (Poorvu, Crum,
However, she tried to put the plan in the construction stage while the problems are aggravated. (Poorvu, Crum, 2008)
In many projects , staff costs are the mainly expensive element ,but there are further other elements of costs to consider ,such as materials and equipment. (AOU, 2013, session 2)
In the case of Regency Plaza, Cunningham had to pay for an extensive segment of hardwood of flooring that needed to be replaced. Hodgkins saw that a series of major changes should be made such as the entrance of bathrooms had to be reoriented, the master bedroom had to be changed, the den should be enlarged, and the living room fireplace had to be shifted slightly. (Poorvu, Crum, 2008)
Moreover, Hodgkins wanted to submit the owner for approval; if she felt that some portion needed to be reworked, the process would go through another changes. All these changes would raise the budget and schedule requirements and Hodgkins had to pay $25,000 for the subcontractors. (Poorvu, Crum, 2008)
Furthermore, the changes of building electrical, mechanical, plumbing, or fire safety systems on the twelfth floor might delay the work for two months more. (Poorvu, Crum,