Regency Plaza Essay

Regency Hotel Group (RHG) is a rise up reputed and masteryful operator in the hotel industry. They cede experience on managing resources and controlling the Regency sum determine. But they eat up faced several problems such as Unhappy Customers, Slow gross revenue Growth, Increasing Costs, Work Delays and Internal Conflicts. The reason for every those problems is poor devisening. When worthy conceptionning and shake off management well f alone ined, Its very easy to archive and coordinate the work. Then any problem potty be identify and solved less expensively in a short succession period. This would help to utilize resources economic on the wholey and save up to a greater extent snip to finish the work successfully in the completion of the stray. RHG has reputed brand hang with their Good Service, Luxury and wide range of facilities apt(p) to their customers. Any beguilement or delay of this check would fail the reputation of Regency Hotel Group. This report depart express the importance of close relation in the midst of organizations strategic mission and the regard Management. too testament state to which outcome the Regency Plaza cast off has managed and large-minded a good example for prospective Project Managers.IntroductionIntroduction to the companyThe Regency Hotel Group was located in major urban centers end-to-end the world & it was well-kn throw for both its focus on service & the wide range of the conveniences that it offered in this hotel. They had develop all of its hotel properties in the past and now it was a mixed riding habit forge, this would be the first cipher & that would include condominium units. The hold carriage of the regency plaza was decided to build the maximum of 96 units, averaging 1,400 squ be feet, sooner than fewer and larger units.Introduction to the reportThis throw ab initio tar forceed toward wealthy couples in late middle age.The hotel leap out was non success the condomini um sales were slow & the local economy appeared to be debilitative & in addition, this render was at the back schedule & oer reckoned, the damage estimating changes did non run through, the number & frequency of changes that were taking place on this get a line & excessively, lot of buyers were complain about the slower service, delaying closing & the bad workmanship. So, we progress to to analysis this communicate under these four questions.Analysis1. rate the intention definition phase of the Regency Plaza construe. How do the problems that emerged during the project relate to how the project definition phase was managed? During the invent process, managing construction, managing marketing and in the current bureau Regency Plaza project police squad had to face many problems and they took actions to prevent these issues. The actions interpreted during the project relieve oneself explained below.The Design ProcessThe Regency, KDS, the Boston Redevelopment ascendan ce and vocal neighbourhood groups involved to the controvertions for jut out process of condominiums. Hodgkins first scrap was number, size and type of condominium units that he could offer to the buyers. in that location were diametrical ideas about number of unit. Farely suggested it should be 72 units and KDSs view was it should be 96 units. But Hodgkins decided to build 96 units which could come upon more profits.Managing constructionKelly had a huge work load to handle and beca intake of that she divided up the workload among few sub contractors. To approve the contract, project aggroup needed subcontractors to uprise a floor plan showing all the necessary things and terminate age of the contract. though this cycle took around one month, project team up needed to know that they are in the right path. MarketingHodgkins use a comprehensive marketing and service programme to introduce condominiums to the customers. They piss committed to a high level ofcustomer servic e and the strategy was to customize condominiums according to the buyers interest. Hodgkins did non except gravid changes that would disrupt other condominiums owners and the guests and she hoped buyers would change their condominiums by themselves after the completion of the building. thus she did non start discussions about the customization with buyers by imagineing changes would be cutting out off.The current web siteThe condominium project became slow repay equal to the causal agency of workers to the hotel area, because the hotel area needed to speed up their work to finish the project before July 15th according to the schedule. The relationship among Hodgkins and Kelly became weak during the project period due to the maturation of costs and design changes. Grogan, Kellys project motorcoach also became frustrated because of the increase of specialty items and unusual dilate. The project motorcoach of Regency hotel, Jeff Cunningham was also behind the schedule due to lack of man superpower. thus in that respect were arguments amid Cunningham and Grogan, because Grogan used more man power due to the constant changes. There was a problem of hard wood flooring and Cunningham asked Grogan to replace the flooring. But Grogan said it was Cunninghams responsibility. This was caused to a conflict between Cunningham and Grogan. The sales of condominiums went slowly. Only 30 units out of 96 units buzz off been pre-sold, because at that place organize market was wealthy couple in late middle age. So Hodgkins wanted to gain more sales by minimizing the cost.2. Evaluate the role of the project coach-and-four ( seam Hodgkins) in the case. What skillsdo you sound off are infallible to be the project manager for the Regency Condominium Development project? How well do you think that Kris Hodgkins meets these skill requirements? Do you think Kris Hodgkins was a good project manager? Project manager is the or sobody who has responsibility till the project is completed with the help of the project team. Project management helps to puff the people and the process to finish the project successfully. There are approximately qualities that project leader should submit such as planning, organizing, controlling, leading, communicating, motivating and customer awareness.PlanningA project manager should collapse a clear plan to achieve the success of the project. He should have clear objectives to motivate others to be actively involved to the project. Kris did non have any contingency plan to implement if something went wrong with the Kellys schedule of 32 months.OrganizingHere the project manager should consider succession schedules, resource allocation and required performances. He should inform job scope, tasks and responsibilities to the project team members to get the maximum result from them. She purchased required items such as elevators and marbles earlier which take long time to receive. She was well nonionised with wear resource when needs. There were 250 construction workers at a time on the condominium floors. But Regency plaza condominium project went slow, because they could not follow the time schedules. This affects to the budget of the whole project.ControllingThere should be a management information system to exchange information among the project team and monitor and control the ongoing project all the time. The project manager should always compare actual budget over planes budget and discuss regularly progress of the project with team members. But in Regency Plaza project, there was no good relationship between Hodgkin and Kelly. They didnt discuss about the progress regularly. Because of that they couldnt identify the future problems. Though she did not consider the above issues, she has retained 10% pay communicate to show some controlling over Kelly constructions.LeadingThis is important to guide the team to complete the project in efficient effective manner. The team member sho uld be encouraged and providential to get the maximum performance. But,Hodgkins couldnt get the maximum use of his team, though she had a well-qualified team. She didnt lead her team well in there was no togetherness. indeed conflicts have being occurred. In the case SusanRandolph, the interior designer of the Regency didnt agree with Hodgkins and Grogan because she felt they were both focused on speed and readiness rather than quality. There was a conflict betweenSinclaire and Hodgkins because Hodgkins asked to cut down on toms billable hours. As a project manager Hodgkins should her circumspection more to reduce conflicts.CommunicationCommunication is the important factor in projectmanagement. Projectmanager should able to send right massage to right person effectively. If not there pull up stakes be more conflicts among members and expected result will not be achieved. But,Hodgkins did not make any meeting she on the button sent letters to the buyers informing packages of c ondominiums. Hodgkins asked Sinclaire to do changes with incomplete information. If she maintained a good relationship with buyers, she could prevent the issues and complaints of the buyers.MotivationProject manager should secernate individuals specific skills and talents. The team members should be appreciated,recognized, encouraged and inspired to achieve the project goals. Members put forward be motivated by giving incentives and feedback of the performance. In this project Hodgkins shows poor motivation skills. Shecut downSinclairs billable hours but it was not fair because forwarded designs to him were incomplete.Customer AwarenessEvery organizations eventual(prenominal) target is to attract more customers and to gain more profits. Therefore this project also should follow the same strategy. They tried provide individual customization but they did not consider needs and wants of the properly. As this was a big project they should have to take idea of the customers. But they fail to do so, because of that still 30 out of 96 pre-sold and that project was behind schedule and over budget. He should have done a market research to regulate out the interests and attitudes of the people.Kris Hodgkinshad to face many problems and conflicts as a project manager but he was unable to take right decisions at the right time. Those decisions directly affected to the final result of the project. Considering above explanations if KrisHodgkins took unwrap decisions, project would achieve expected results.3. Evaluate how well essay was managed in the Regency Plaza project. You should use the four stage peril Management simulation from the module in answering this question. Every project has a chance and you cannot eliminate it. Only thing you can do is reducing risk of exposure. jeopardy should be carefully managed to minimize the impact of it. Regency Plaza projects main priority should be to manage the risk to achieve the success. utilize four stages of risk management process, how well risk was managed in the Regency Plaza project is described. Risk identificationFirst, risks that will directly relate to the project should be identified and the risks that will occur in the future should be foreseen. It can be related to the quality, cost, schedule and etc. In this project they did not have a good idea about the size, layout, and design of the floor plate. They might have considered more about the fool plan efficiency and room locations. Hodgkins did not care much about the buyers satisfaction. He did not initiate ant meeting to discuss about the customization and he sent only a letter. He purview it will reduce the changes after completion of condominiums by his marketing strategy.Risk AssessmentThere were many upcoming risks with condominium units. Design changes, increase number of specialty items, increasing incomplete information and unusual details were some of the issues. It was very difficult to continue the project with these issues. So they could not follow the schedule.Risk reply developmentAfter assessing risk project manager should develop a contingency plan covering all the areas to manage the risks. But she did not make any provision for the design changes and she did not have a better contingencyplan. She did not think that buyers would agree or not with the design. Thus she had to face many problems and constructions were halt. Because of all these issues the project was become behind the schedule and over budgeted.Risk receipt controlFinally after developing a risk response, project manager has to monitor and control it. In this case, Hodgkins could not manage and response to the risks occurred during the project. She made the wrong assumptions which were caused for additional costs and time delays.4. Given the situation that Kris Hodgkins finds herself with the Millers at the end of the case, evaluate all of the options available to her and press the course of action your group thinks she sh ould take? Kris Hogkins has five options at this situation.Option one has an opportunity for Millar to make the change at a later date and no additional delays in project. But some changes such as sprinkler require closing the whole floor. Option dickens minimizes changes required and costs will be removed by move unit ob hold. But Millers changes will find oneself more cost and that will reduce Millars interest on the condominium. There will be a risk to put unit on hold too. Option three, hiring a small general contractor has more disadvantages. It is very difficult to hire contactors for small works and labour cost will be increased. There will be conflicts between the contractors and difficult to manage. The risk will be more. But required changes can be done to satisfy both parties. Option four also not a good idea to work out. Because there are many disadvantages such as difficulty in getting deposit loans without certificate of occupancy, Regencys control over project wil l be reduced and the target customer pool will shrink. Option five, affect Millers to a different unit on higher floor will buy some additional time. But there are no similar floor plates on higher floors. After evaluating all the options we can come to a conclusion that option 2 is more sound comparing to the other options to the project though there is a risk of selling the condominium, there is a chance of selling it, because of the time and cost spend on it by the Millers. Thus we propose option 2 as the action that she should implement.Discussion and ConclusionAfter studying the given case study, they have come across many problems and also they have found better solutions for the said problems.In theDesign Process we have found some problems, we find Hodgkins idea a better suited for the process, because it brings more profit. We think Hodgkins marketing plan is effective because giving the freedom to the buyers to customize their own condo is a great marketing idea. The bu yer can get exactly what they want rather than unwanted stuff. The current situation of the project is getting messy due small facts that are not interpreted in to account by the relevant people. We think that the man power should be increase to achieve the given dead line and as said in the case study only 30 units were pre sold. Also there are small conflicts between fellow partners so its a disadvantage to the firm, and some have lack of interest. However Hodgkins makes his target market by minimizing the prices. According to the case study the project manager Hodgkins is not a skilled person at her job, she fail in many areas which her decisions were effecting the final output.She was not best at her duties even though she had a good team she did not take much use of their skills. Also she was unable to achieve her target and the expenses were high, could not achieve the deadlines. Hodgkins should have focus more on the communication skills due to her miner mistakes her team mat es had small conflicts which affect the project in a way. boilers suit the Hodgkins managing skills was poor during this project. We evaluated the risk assessment and responses and the project manager have not focus much on the risks, because of that the cost of building have been increase also she was unable to give what the buyers wants. Since she was not focus on the risk and once they occur she was unable to face them all. By examining the five options which are left to Hodgkins to make this project work the author thinks the option two will benefits all who are involve in the project. We would like to break up by saying that improving Project managers skills and by focusing on risks and using all the resources give the project would have been a success. If they can overcome the above problems they will be able to achieve their targets.If we were the project manager we used our skills to get the maximum output.And also always try to get team members ideas & by using their ski lls performed tasks to gain best interest to the project. Try to perform all the tasks according to the plan within the budget in order to complete the project on or before the deadline. Then we establish proper communication process to communicate among all the members without occurring barriers & before starting the project made arrangements for assessing risks and establish contingency plans to overcome from them. By considering all the above factors we can recommend below facts. Project managers must aware of the potential issues that can be cause for delay a project & to reduce such class of delays project managers must conduct audits during the usual intervals during the project. At the same time by showing sensitivity to human reactions audit should be conducted throughout the project. Without looking at the weak points and without blaming to mistakes project managers must focus on the issues that should be resolved. All the above things can be possible when theres a stable proper communication between all the parties those who involve in the project to complete it successfully.