Project Management Regency Plaza - 5104 Words

Table of Contents Page 1. Executive Summary (207 words) 2. Introduction (280 words) 3. Project Definition Phase (949 words) 3.1 Problems Encountered during the Project 4. The Project Manager (790 words) 4.1 Assessment of Kris Hodgkins 5. Risk Management (938 words) 5.1 Evaluating Risk Management 6. Miller’s Dilemma (821 words) 7. Final Discussion (398 words) 8. Conclusion (142 words) 9. Appendix 10. References 1. EXECUTIVE SUMMARY 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†¦show more content†¦The management failed to take into account the fact that they are venturing into a new business territory involving long-term residential condominium units. Hotel guests and condominium residents have different levels of expectations not to mention the fact that the Regency Plaza is a luxury development. While being established and successful in their main business is good, perhaps this has also contributed to the over-confidence of the management and their failure to set appropriate realistic goals. A project priority matrix was first developed to identify the various levels of project priorities in terms of time, performance and cost which interelate to the goals set. Project Priority Matrix | | | | | | | | | | | | This would signify the following for the Regency Plaza Project: âÅ"“ If the project is behind schedule, there will be a reduction in the completion time in order to successfully market the product âÅ"“ If the project is behind schedule, cost budget will be increased to speed up work âÅ"“ The original specifications fixed cannot be compromised Specifications When the project management team under the leadership of project manager Hodgkins was set-up by RHG management, plentiful amounts ofShow MoreRelatedRegency Plaza Case Study - Risk Management Process, Review of the Options1247 Words   |  5 Pages3. Risk Management Process of the Regency Plaza Project Regency Plaza is a mixed-use multi million US dollar project carrying quite high stakes. So the risks of it should be evaluated beforehand and managed well in order to make sure that the project wouldn’t over run budget or time and end with a successful result. 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