Project Managing the Revitalisation of Suncastle's Night Time Economy - Literature review Example

REPORTING ON PROJECT MANAGING THE REVITALISATION OF SUNCASTLE'S NIGHT TIME ECONOMY Student’s name Institutions affiliations Professor’s name MAY, 8, 2012. Conceptualisation of projects According to Meredith & Mantel (2010) the process of evaluating proposed projects or groups then choosing to implement it, the choice of the project is crucial in the long-run survival of any particular project. The project will be carried out in Suncastle its aim will be to regenerate the town to become a night time economy; this was carried out for a period of three years. The project was selected using the net present value of the project, which states that the present value of the inflows will be greater than the present value of the outflow. The suncastle project will have a number of benefits which will go hand in hand with the changes that the project will be planning to implement (Morris, 2010 pp.145). The information’s which is associated with project selected is featured with uncertainty and is key appropriately for application of risk analysis. The following were risk identified and mitigation measures that will be taken. Positive sector support- the number of business in Suncastle may be resistant to a number of changes occurring in the town. Education and open forums will be organized to these groups to be able to win support. Sites and premises availability- this may pose a problem but discussions with relevant authorities and owners to use the available resources adequately. To establish a number of needs and preferences of the particular project a feasibility study was carried out for a period of two weeks this was to be able to integrate views and opinions of them to enable sustainability of the projects. The following are stakeholders involved with the process and their varying needs: Residents of the Suncastle- they will need improved economy but to achieve that a number of factors need to be taken in considerations this include improved security, good infrastructures and reductions of congestions and noise pollutions. Local business firms/ organizations- they are concerned with improved security rates in the region and also provision of other supporting services like banking. Investors- they need that the area will be secured and does enjoy economies of scale. One key point of the project conceptualisation is establishing, working and partnering with a number of individuals, because the project requires inputs of a number of people. The project identified a number of individuals to be contacted to provide their support: County councils authorities- a number of their activities will be affected by the project and their collaboration is important for the success of the project. The council operations will involve cleaning, securing and other business interest during the nights and also providing licensing for some of the business activities. People of Suncastle- they may be affected positively or negatively by the project and they need to be explained to the benefits of the projects. They need to be integrated in the project in providing views and opinions, providing resources like land and labour. Design of the project It is essential that a number of project objectives and aims are tied up on an overall mission, goals and strategies. It is important that the project team be able to outline the intent of undertaking the projects, outlining the scope of the project and describe how the projects desired results that need to be reinforced (Lewis, 2010 pp.132). The Sunscastle project established the following aims which will be implemented based on a number of changes: The project plans to build a hotel in the town centre or a close range to the town centre. Which will be easily located and accessible to the tourists and visitors, the aim of the project is to attract all individuals from the entire world who will be able to get accommodations during their stay in Sunscastle. The project also plans to rehabilitate and expand the Victorian Civil Centre which will provide more rooms for artists, an extra stage for more performances, and other seating areas and facilities. The aim of these is to allow more performers to the centre and boost more visitors to Sunscastle. The project will plan to acquire more building facilities for sale this will be in and around the town centre, the outcome of these will be more clubs and pubs. The aim of such changes will provide a wide range of services and products to the visitors who through their spending during the night will boost the economy of Sunscastle. The project plans to negotiate with owners of the Mall shopping centre regarding their extension of opening hours to 9-10 pm in the night. The aim is to attract shoppers during the night hours. It will also plan to hire some of the land owned to facilitate a number of attractions into the Mall for example music events, tourists markets and playing facilities. The individuals will be able to enjoy a number of packing facilities within the Mall and Victorian Civil Centre. The project will also adopt a general approach by borrowing some of the aspects or contributions of similar projects that were carried out elsewhere. A project that was done in Coventry which aims were to generate a night time economy, borrowing from it how that project team was able to establish vital and effective links created between organizations and licensing premises of alcohols, how it was able to establish a standard training, registration and disciplinary procedures, and securing grounds, and lastly on how it was able to engage both big and smaller organizations (Meredith & Mantel, 2010pp.150). The second project is by learning and mitigating problems that happen in a project that was used in regenerating high time economy in Lincoln sure with some of the problems on funding, sector support and sites and premises problem. In the process a number of contractual requirements, liaison arrangements, advisory committees, cancellation procedures, property requirements and management it agreements will be met. A contractual agreement will have to be made with Mall issues of opening times and parking spaces but this will be based on win-win situations. Contractual agreements will also need to be done with the local authorities on how business will be done in the county during the night with support of their services. Liaison agreements will be established with existing business and organizations in working together in making the project profitable and sustainable, this will go hand in hand with the property owners around Sunscatle town. An advisory team committee consists of experts in a number of fields to help in running and implementation of a number of tasks. The personnel of the project were recruited based on the needs of the projects (Burke, 2009 pp 123). The following were the personnel that were involved with the project, qualifications met and schedule period of the project with outlined roles and tasks. Advisory team of five who will involve experts in a number of fields, projects engineering, legal and financial, a committee of 10-12 members individuals representing a number of stakeholders in the projects for example business, owners, government authorities, one project manager who will be responsible for all other projects changes and success of all the project. Four technical managers who will be responsible to each of the changes in the project plans to achieve. Ten technical staff will be responsible for running and performing tasks within the project life (Lewis, 2010 pp.42). A vital aspect of the project is the resource available to be used for the business. There are two primary aspects of resources they include: both capital requirements and daily expenses involved in running of recurring project costs. This was outlined in the project budget; this budgeting process will involve a bottom up approach in which elemental tasks, schedules and individual budgets will be constructed using a work based system with consultative with the people will be invented with the tasks this ensures the best level of accuracy. A cost estimates will be done to cover the cost of purchasing equipments and facilities for the office, payments of the employees’ salaries and other statutory and legal costs. The project will come up with a risk management pan this will help to cover potential problems as well as potential lucky breaks that would affect the project. A number of risks may affect the project as the management may have no control over then. The project will establish a risk management team consisting of the employees within the project who will help in mitigating any ask when it occurs this will be in support of risk management tools (Lewis, 2010 pp.45). Lastly in the design process the project management team will establish an evaluation and monitoring plan. This project changes and tasks will be evaluated against standards and by methods established at the projects inceptions allowing for both the direct and ancillary goals of the project it then becomes a benchmark for any continuous improvement programs the project will establish elaborate and complex set of rules and regulations to settle disputes between the project and other individuals surrounding the town where they interact around the project environment (Meredith & Mantel, 2010pp.151). Implementation The implementation process will involve project plans which will involve a sequence of activities required to carry out the stated project from start to completion. Project plans are usually constructed by listing the sequence of activities required to carry out the project from start into completion. The implementation plan for this project will contain estimates of the time required, the cost and a number of materials used. Each major changes of the project is listed a long estimates of resources, time available (Burke, 2009pp 123). Depending with the needs of the project, project schedules are given to the all process; personnel, equipments and other resources usage are estimated in a sequence to sequence basis this is in order to ensure that resource constraints are not violated. The project manager technical manager needs to enforce the plan fully staffing the committed changes in the projects. They will also establish and identify opportunities for leverages across for projects or for process of reengineering. The team or project management needs to maintain the plan in a central place; the same people will be best suited in updating it periodically quarterly or as any changes occur. They need also to identify resources that will be needed for each profit. The management team will also be responsible for managing and supervising the technical employees. The committee team that was formed to help integrate a number of needs of all the stakeholders. They will also help in tracking progress of the particular project by giving feedbacks and opinions. Before and during the implementation process the advisory team which consists of experts from a number of fields will help by giving expert opinions to the concern parties. The financial departments with the committee will be responsible in establishing a one year financial plan for the project that also be used in sourcing financial resources for the projects. The project did establish a number of changes that will be used in the process of implementation of the project. It is appropriate to identify how these changes will be implemented, available resources and the individuals who will be responsible: The first change to be implemented is the building a hotel in town centre, which will be located close to town centre. This will take a period of four months and the technical person who will be in charge will be a building contractor who was sourced from within the county in a conjunction of a investor who was sourced to fund the establishment of the hotel The second change to be implemented will be rehabilitation and expansion of the Victorian civil centre this will take a period of 6 months including slippage. The implementation process will involve the owners of the Victorian civil centre and the management of the mall who will be given the ides of expanding the centre; this will be done with a conjunction with a technical manager who will make a follow up that the task implemented fully. The centre will be approached if they will agree to find the change. The third change to be implemented will be acquisition of some of building and facilities for sale which is in and around the town centre which the outcome is expected to regenerate into clubs and pubs. A number of investors, business and organizations owners will be approached to finance the particular project by buying or rehabilitating the existing business but the process will be done in conjunction with the council of the region. The fourth change to be implemented is negotiation with the owners of the Mail shopping centre to schedule their opening times and parking spaces. This is done by hiring some of the lands owned by the Mall. The project technical manager will be responsible in establishing contractual agreements between the project and the management of the Matt within a period of six months is given for such activity. The project activity scheduling this will involve a conversion of a project action plan into an operating timetable. This will serve the basis that will be used for monitoring and controlling the particular projects this will support of plan and budget, the Sunscastle project will be detailed in several schedules which is typically based on a work based structure (WBS) this will then be demonstrated using Gantt charts. The charts are effective and easy to read methods of indicating the actual status of a set of tasks compared to the planned progress for each item of the set. A number of barriers were identified during the implementation process but mitigation measures were identified to address these. A number of conflicting issues arising from competitive among the business people enable the project team to look for open forums that both parties can air out their fear and come up with a negotiation package suiting each party (Morris, 2010 pp.145). Commissioning of the project In the life of the project and monitoring and evaluation should be done at the execution of the project. Not only was the performance of the project monitored but the surrounding environment outside the projects needed to be observed and recorded. First need to expand between what was planned and controlled of the various project performances and activities, Earlier on it was the work of the project manager to have constructed a key monitoring system which will include information system that will give the various stakeholders what the need to make informed, timely decisions and will keep project performance as closer as possible to the project plan. In a monitoring system a specialised form was established that was used to collect data, this should be set-up quality control procedures that will ensure integrity of data transmission. Concerning information needs and reporting each person concerned with the project should be appropriately tied into the project reporting system (Morris, 2010 pp.145). The report of the outcome of the project will be issued which reflect the WBS with each management level recurring reports that allow the exercise of control at the relevant level. The project will run its life cycle or completed after economy has improved after three years and all other business have matured and are doing well. The town will record a large number of visitors during the day and during the night. The public buildings that were not functioning or were seasonally opened will then have become too busy creating more employment opportunities to the local people. The project then could have reached the termination point and a full report of all was achieved during the all process will be written, the contents of the report will include: the feasibility report to identify if the needs of all stakeholders have been met fully, the management strategic plan to show if the objectives that were set was achieved at the required time or period (Morris, 2010 pp.145). Then the report will be issued to the concerned stakeholders of the project, other contents will involve the project performance, administration performance, organizational structure, project and administrative teams, techniques of the project management. For each of the element recommendations for changing current practices will be made and taken note so as to form the basis of future projects. In conclusion the project made the following recommendations from the three year activity. Some measures and regulations need to be established to safeguard or regulate a number of informal businesses that started to occur during the night hours for example prostitution and gambling. More capacity building need to be done regarding the attitudes of the residents of the town concerning 24 hours economy. They need to have positive attitudes. Some supporting services need to be established during the night for example banks, insurance and other bureaus. Reference lists Lewis, P (2010) project leadership, New York, US, Mc Graw Hill, pp. 23-156. Meredith, J & Mantel, S (2010) project management: a managerial approach, London, UK, pp.12-167. Morris, P (2010) the Management of Projects, New York, US, Thomas Telford, pp.123-63 Rory, Burke, (2009) Project Management – Planning and Control Techniques, London, UK Cengage pp.23-145. Read More