...investment idea will impact the Operation department 3 Section 3- Milestones and Time plan for the major operations activities 4 Section 4- Financial Overview for the Operations Section 6 Section 5- How the Operation implementation plan is linked with other departments 8 Section 6- Risks identification and Management 9 Section 7- Resource requirement by the operations department 10 Section 8- References 12 Section 1 The investment idea and the role of operations department The operation department stands as the foundation of the business operation, and how the company would be run and the ideal location for the business. The operations staff that would be involved is a few people since the business of upgrading two hotels that would be located in Los Angeles and San Francisco to five star status. The source of funding is very critical to this investment, and it would be given to the operation department by the financial department of the Eagles’ Nest Company of $125 million. This money was made available to this syndicate group Solutions Supplying Strategists to help develop the Eagles’ Nest Company to help...
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...Abstract This paper is going to research the motivation for the core talents in hotel industry. My research will include the present situation of rotational flow of hotel’s core talent, the core talent’s feature, the motivation management’s principles and several measures and suggestions. In my view, the importance of motivation for core talents is not only to retain the top talents of hotels, but also the way to stabilize the management team. In the modern hotel industry, the brain drain becomes one of the biggest problems which hotels need to face and solve. So, in my paper, you can find the analysis of situation, the ideas from the insiders, and I will give suggestions by my own at last. Introduction With the fast development of Chinese economy, the foreign hotel giants accelerate continuously enter into the China to expand the Chinese market. At the same time, the domestic star hotels spring up and start to divert the customer source, so the competition of capture the source of customer market becomes severely. Because of the rapid development of hotel industry, the vying for hotel’s top talent is increasing. In fact, the essence for hotel industry’s competition is talent competition, and the “talents war” has become a major strategic for the hotel industry’s competition. So, the hotel’s core talents retaining and stabilize management team appear essential important. How to suit the remedy to solve the problem should be the focal point, so first...
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...the document.] | 1 Introduction Following project plan describes Holiday inn Melbourne airport hotel’s restaurant renovationproject in detail. As management decided to carry on this project this project plan generated to express the information identified such, legal, human resource, financial, technical requirement as well as customer review, deliverables, milestones, limits and exclusions when achieving project objectives and analysed risk and contingency planning to avoid or minimize the negative impact to the project. By delivering this project with in the period of 3 months’ and budget limit of $220,000 hotel is expecting to increase its revenue and make a high profit margin to get back the money in two years’ time. Therefor hotel managers will be having meetings and audits with project management team to confirm the quality of the project and to make decisions if required. 2. Scope Statement 2.1 Project Objective The objectives of the Holiday Inn restaurant renovations are as follows * To open and furnish the extended restaurant at the Tullamarine located Holiday Inn. * Complete the project by ……………. * The project budget cannot exceed $............. * Complete renovations without failing an inspection. * Minimise the negative impact on customer’s service throughout the Hotel Inn during the renovations. * Final product conforms to all relevant State building legislations, Victorian renovation regulations, building codes and...
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...Analysis of the Regency Plaza case study 4.0 Risk Evaluation and Management of Regency Hotel Project Any project will presents risk elements that represent opportunities or threats that can undermine the smooth running or even completion of the project. Similarly the Regency Plaza project with its high stake of the deliverables, careful managing of risk should be top priority. Using the four stages of Risk Management framework, we shall attempt to evaluate how well risk was managed in the case Regency Plaza project. 4.1 Risk Identification: Sources of Risk Identifying the sources of risk is paramount; detect as many as possible and should be directly related to the project objectives. Uncertainties will happen during the project runtime; hence identification of all possible of risk elements should be meticulously specified, and in the case of Regency Plaza, it can be associated with the design, development, quality, staffing, schedule and budget. Since the Regency Plaza was a mixed use project, and being the first of its kind undertaken by the Group, they may lack the experience in running this project. This was further compounded by the complication of the size and layout of the floor plate in terms of the difficulty of designing a structure to accommodate condominiums over the hotel rooms, seated over a parking garage. Elevator core location and column spacing were essentially fixed by these constraints. At the same time issues such as length of the hallways, floor...
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...PROJECT RISK MANAGEMENT MONITORING, EVALUATION AND CONTROL FINAL PROJECT REPORT GROUP MEMBERS: FOZIA MUBARAK KHAWAR KHAN MOHMAND HUMAIRA JAHANZEB MUHKUMUDDIN ADNAN AKBAR VACATION TO FLORIDA Scope Statement • A 14 days’ vacation to Florida with a total budget of $10,000. Constraints • Only cash will be used. • $3000 in a savings account for the vacation and another $7000 in a certificate of deposit that would not mature until the start of the second week of our vacation. • Travel by air to Florida. • Stakeholders include husband, mother, daughter and son. • Non-refundable tickets with one stop. • First class two bedrooms • Eating three good meals a day was particularly important and saving money by eating fast food could spoil the vacation and the medical costs could easily exceed the savings on food. • Using a Cadillac or a Lincoln for a week in Florida. • Spending two days in travel, two days lounging around the hotel or resort, and ten days at the theme parks. • There were two or three theme parks that both the kids were interested in visiting and they wanted to “do it all.” • $30 limit on souvenirs for the immediate family. Assumptions • Assume a “moderate risk” with a $500 contingency reserve. • $7000 will definitely mature by the expected date without any banking/otherwise issues. • The cash in hand is a safe option with no chances of theft. What is not Included • No tour guide • No laundry at hotel Risk Management Plan Methodology ...
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...The elements include the following: 1. Project objective - the project objective describes the what, when, and how much of the project. It describes the overall objective to meet the customer's needs. For this project, the objective is to create a suite of projects that capitalized on the oasis' resources and promote global tourism by using sustainable actions which would preserve the local culture, heritage and landscape of the area, making it an oracle for sustainable development. 2. Project scope - the project scope is to make Siwa a sustainable oasis for international tourism by building three hotels, a line of embroidered products, traditional jewelry, and exporting organic agriculture at a cost of $1,366,000. 3. Deliverables - the project deliverables are the expected outputs over the life of the project. The deliverable for this project includes three hotels completed using sustainable materials, a line of authentic Siwan jewelry and embroidered products, and the export of organic Siwan agriculture to other parts of the world. 2. Analyze the key stakeholders and their issues One of the key stakeholders are Environmental Quality International, who first came to Siwa in a consulting capacity in the 1980s, but began investing in the company in 1996. Siwa was the...
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...Chapter 1 6 1. INTRODUCTION TO RISK MANAGEMENT 6 1.1. Risk Management-An Overview 6 1.2. IMPORTANCE OF THE RESEARCH 7 1.3. RISK MANAGEMENT EMERGANCE-REASONS AND FACTS 8 1.4. RESEARCH METHODOLOGY 9 1.5. LIMITATION OF RESEARCH 10 CHAPTER 2 11 2. LITERATURE REVIEW 11 2.1. DEFINITION OF RISK MANAGEMENT 11 2.2. DIFFERENT TYPES OF RISKS IN BUSINESS 12 2.3. CONSTRAINTS 14 2.4. RISK ASSESSMENT 14 2.5. HISTORY OF RISK MANAGEMENT 15 2.6. PROCESS OF RISK MANAGEMENT 15 2.7. Enterprise Risk Management 16 2.8. ERM&CRO 18 2.9. BANKING RISK 19 2.10. Credit risk management in UK banking sector 19 CHAPTER 3 21 3. ANALYSIS AND DISCUSSION 21 3.1. ECONOMIC CRISIS AND BANKS OF UK 21 3.2. Minimizing the moral difficulties involved in the originate and distribute model of banking. 22 3.3. Transparency of risk in financial products is essential if regulation is to work 22 3.4. Reform Basel ii so that it is not so pro-cyclical 23 3.5. RISK MANAGEMENT AND COSTS OF BANKING CRISIS 24 3.6. Costs of Risk 25 3.7. SIGNIFICANCE OF REGULATORY STYLE 26 3.8. KEY WAYS TO MITIGATE BUSINESS RISK 27 3.9. Risk dash board every bank needs 28 3.10. ROYAL BANK OF SCOTLAND 29 3.11. RISK MANAGEMENT AT KENYA COMMERCIAL BANK (KCB) 29 3.12. Risk management in hotel and tourism industry in India and in the whole world 30 3.13. The management of risk in agricultural sector in the United States of America 31 3.14. THE ROLE OF INTERNAL AUDITORS IN RISK MANAGEMENT 33 4. CONCLUSION AND RECOMMENDATION...
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...Finance and Performance Management Mastery and the High Performance Business At Accenture, we have always believed that a direct correlation exists between the sophistication of an organization’s finance and performance management capabilities and its overall performance. 2 Now, we’ve put that theory to the test. In a recent landmark study, Accenture examined the relationship between finance and high performance. The results show a tangible link and strong correlation between a high-performance business and mastery of a new finance competency set. The results also reveal that those companies that created the greatest value have embraced entirely new ways of thinking about finance and performance management. Achieving High Performance Accenture defines high-performance businesses as organizations that consistently outperform their peers over a sustained timeframe (typically 5 to 7 years) and across business cycles, industry disruptions and CEO leadership cycles. These companies deliver consistently upper-quartile total returns to shareholders. They create returns on invested capital significantly in excess of the cost of capital and drive profitable revenue growth faster than their industry peers. In short, they are lean, responsive to changing competitive fundamentals and consistently rank as market leaders. How do they do it? Accenture embarked on a major research program to identify the attributes and practices that distinguish high-performance businesses from...
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...People take risk daily whether they realize it or not. For instance, a person might take a different route to work. The individual has two choices. One, take a conservative approach and travel the familiar road they are accustomed to minimize the risk of being late. Secondly, the person can obtain a diverse path and assume the chance of being delayed or discovering a new road that saves time and money. Sure, it is always safe to stay in the comfort zone. The person may begin to think the “what if.” What if there is more traffic or closed roads while taking this new path towards reaching their destination. A savvy individual must assess the risk of driving an unfamiliar way. They must be willing to face the outcome. The consequences can be positive...
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...POLITICAL RISK Globalization is the name of the game, every business and individual has a direct or indirect connection with it. Even in the tightest locked-up economy, there is a level of dependence with the global economy. Brands and products have managed to break the national frontiers and sail the murky waters of international markets. The 21st century has seen a more regulated and somewhat “fair” and competitive playfield. International organizations, such as the International Monetary Fund (IMF) and the World Trade Organization (WTO), have gained strength while working to ensure a firm and stable environment for trade and payments at a global scale. Smaller, regional organizations also play a strong hand and trade regulations can be found at a country and state level. This colossal amount of regulations and regulators aim, for the most part, to establish a fair environment for the benefit of both the consumers and the companies; yet, these regulations pose great, and sometimes hidden, risks. But these regulatory risks represent one of the many institutional differences companies may face when entering a foreign market. In order to have a better understanding of the potential political risks, one must study, not only the current state of the targeted area, but also the historical context and analyze examples of other companies in similar situations. Sometimes the industry, or even the area are not the same, but the knowledge gained is still valuable and many points can...
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...Risk Analysis Risk Seeker After analyzing the case study it is evident that the company has a good risk appetite and is a Risk Seeker. The company’s vision to create a diversified group of niche resorts and hotels in strategic locations throughout the world amplifies that it wants to create a distinct image for itself. Banyan Tree identifies strategic locations where a typical resort would play safe and charge moderate prices whereas Banyan tree would price exuberant rates and be price maker than a price taker. It ability to create a niche where others are conservative clearly shows it is ready to take higher risks for higher benefits making it a Risk Seeking organization. Its strong strategy is to enjoy higher prices for the concepts like tropical garden spa and pool villa which is a signature feature of Banyan Tree and complement it with residence and property sales and gallery operations. Banyan Tree has grown and established its presence in Asia - Pacific against the backdrop of many disasters like Terrorists attacks in 2001, breakout of SARS in 2003 and Tsunami in 2004. Some facts like the profits of Banyan Tree grew by 41.9% from 2003 to 2004 when breakout of SARS severely hit countries like China, Hong Kong, Singapore and Vietnam where Banyan Tree had its major operations proves its adaptability and strength. In 2004 when Tsunami hit even though the profits from resorts receded profits from property sales helped Banyan Tree to not run into losses. Thus multiple revenue...
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...BSBRSK501B Manage Risk Assessment 1 Management report for the senior stake folders - Five star hotel located on “The Great Ocean Road” Risk Name | Description | Likelihood | Impact (1-5) | Grade(1-10) | Treatment | Responsibility | Monitor | Breakdown of equipment | Unable to provide services | 50% | 5 | 10 | Check equipment warranty and ensure regular maintenance | Director of operations | Daily | Theft | Stolen goods or money will affect project success | 10% | 4 | 5 | Ensure security measures are in place to protect properties, cash flows. | Director of operations | Daily | Increased competition | Failure to increase business and revenue due to competitors | 30% | 4 | 6 | Carry out regular market research | Director of OD | Monthly | Bad debtor customers | Lack of funding to implement project initiatives | 10% | 2 | 2 | Refuse accounts, ensure all bills are finalized | Director of Finance | Weekly | Loss of a key staff members | Staff turn over requires staff training and can lead to delays in delivering project objectives on time | 30% | 3 | 3 | When faced with staffing challenges and conflict approach the subject prompty | Director of HR | Quarterly | Natural Disasters | Unable to run a business due to disasters | 10% | 5 | 3 | Plan for unexpected incidents, ensure health and safety requirements are met | Director of operations | Quarterly | Capacity planning | Insufficient capacity to meet customer’s demand | 40% | 5 | 8 | Plan for reservation | Director...
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...23INTERNATIONAL JOURNAL OF PROJECT MANAGEMENT International Journal of Project Management 24 (2006) 587–594 www.elsevier.com/locate/ijproman Role of public private partnerships to manage risks in public sector projects in Hong Kong Li-Yin Shen a a,* , Andrew Platten b, X.P. Deng c Department of Building and Real Estate, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong b Elevate East Lancashire, Accrington, England, UK c School of Civil Engineering, South East University, PR China Abstract The clients of public sector works have an obligation to ensure that the large scale investment in public works is effective and can achieve improvement in social and economic performance. However, construction activity is usually subject to more risk than other business activities because of its complexity particularly in coordinating a wide range of disparate and interrelated skills and activities. This complexity is further compounded in implementing public sector projects where multiple project objectives are expected by a wide range of stakeholders who have different interests associated with the projects. With reference to current practice in Hong Kong, this paper examines the major risks in implementing public sector works, and the ways that the application of public private partnership (PPP) can help to manage risks in project delivery. The example of Hong Kong Disneyland (KDLD) demonstrates how various major risks in committing to a PPP project are...
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...Social Innovation Centre Risk Management for Energy Efficiency Projects in Developing Countries _______________ Paul KLEINDORFER 2010/18/TOM/ISIC Risk Management for Energy Efficiency Projects in Developing Countries 1 Paul Kleindorfer * * The Paul Dubrule Chaired Professor of Sustainable D evelopment, Distinguished Research Professor at INSEAD Social Innovation Centre, Boule vard de Constance, 77305 Fontainebleau , France and Anheuser-Busch Professor Emeritus of Man age ment Science and Publi c Pol icy, The Wharton School of the Universi ty of Pennsylvani a Ph: +33 (0) 1 60 72 91 28 Email: paul.kleindorfe r@insead.edu A working paper in the INSEAD Working Paper Series is intended as a means whe reby a faculty researcher's thoughts and findings may be communi ca ted to interested readers. The paper should be considered preliminary in nature and may require re vi sion. Printed at INSEAD, Fontainebleau, France. K indly do not reproduce or circulate without permission. 1 Paper prepared for the UNIDO Project “If industrial energy efficiency pays, why is it no t happening?” Risk Management for EE Projects (V3) 15/3/2010 2 Risk Management for Energy Efficiency Projects in D eveloping Countries Abstract/Summary The present paper addresses risk management fundame ntals for energy efficiency (EE) projects in developing countries. The starting point for th is paper is that there are many profitable EE projects in nearly...
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...Risk Management for Jingdong mall Background of Jingdong mall Jingdong mall is a Chinese electronic commerce company headquartered in BEIJING, and it is one of the largest B2C online retailers in China by transaction volume. Jingdong mall has been working to provide customers the world beyond reality-experience with pleasant and delightful online shopping. By means of luxuriant content, user-friendly website (www.jd.com) and mobile clients, it offers abundant commodity with rivalrous price and excellent quality, on the other hand, their services enjoy fast and reliable way, including flexible payment at any circumstance before headed to consumers. In addition, Jingdong mall also offer third-party sellers with online-selling platform carriers a series of value added services like logistics information, etc. Products of Jingdong mall JD provides abundant commodity, type includes computers, mobile phones and other digital products, home appliances, auto parts, clothing and footwear, luxury goods (such as: handbags , watches and jewelry) , home and household articles, cosmetics and other personal care things, food and nutrition , books, electronic books , music, movies and other media products , baby articles and toys, sports and fitness equipment, as well as virtual goods ( such as: domestic air tickets , hotel reservations , etc.). Process of Jingdong mall’s electronic commerce Order received Check availability Article available Procurement no Ship article ...
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