The paper “ Project Managing the Revitalisation of Suncastle's Night Time Economy” is a meaningful example of a business plan on management. 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 sun castle project will have a number of benefits that will go hand in hand with the changes that the project will be planning to implement (Morris, 2010 pp. 145). The information which is associated with the project selected is featured with uncertainty and is key appropriately for the application of risk analysis. The following were risk identified and mitigation measures that will be taken. Positive sector support- the number of businesses 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 the sustainability of the projects.
The following are stakeholders involved with the process and their varying needs: Residents of the Suncastle- they will need an improved economy but to achieve that a number of factors need to be taken into consideration this includes 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 do enjoy economies of scale. One key point of the project conceptualization 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 into the project in providing views and opinions, providing resources like land and labor. Design of the projectIt 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).
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.