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In Manchester, a top-rated luxury hotel was Yang Sing, a luxury boutique hotel. It was a massive hotel with 48 luxury bedrooms designed very nicely inspired by some cultural ideas from China, Japan, India, etc. That hotel also ran very successfully, but it was closed after eight months of its opening due to some economic crisis. As a project manager, there is a need to relaunch this hotel with the help of some new ideas. This project will describe some ideas about some policies for opening a luxury hotel in Manchester. In this particular assignment, the focus has been provided to planning and controlling the project and managing stakeholders and people associated with the project by identifying stakeholder management plan, resource allocation plan, and schedule and risk assessment. Apart from that, conflict management style and sponsor management strategies have been discussed.
To run a business properly, an organisation needs to follow some objectives and set goals or missions. With the help of those goals, the organisations try to do a successful business while managing the main stakeholders (Akhwaba, 2020). In this case, Yang Sing also should fix some objectives with the help of them the main stakeholders of Yang Sing will benefit.
The hotel’s mission, Yang Sing, is determined to provide world-class, highly personalised services. Along with that, consumer satisfaction is one of their main mottoes by maintaining an amicable relationship with their guests. Therefore, the project’s primary mission is to deliver the best hotel project while managing consumer expectations and creating a sustainable project by ensuring that all the stakeholders are benefitted that (Bahadorestani et al. 2020).
Apart from that, they have long-term objectives that they are determined to follow to create sustainable competitive advantages in the hotel industry of Manchester. They are required to complete a project that can help them fulfil their project requirements, and these are mentioned here.
Stakeholders are a very crucial part of an organisation. The organisation should maintain a healthy relationship with the company and the consuming customers. Therefore, the CEO, project manager, guests, employees, investors, hotel owners, etc., are the organisation’s stakeholders. In order to make a good impact on the particular hospitality business, there needs a proper involvement of their stakeholders (Bogdanova et al. 2020). If an organisation ignores any stakeholder expectations, the company will be very costly; also, it will create a destructive impact on that particular business. Anyhow, the new project manager wants to avoid repeating the same mistakes as the prior one. An economic downturn can’t be predicted while the world economy keeps growing. As a result, its offerings will be more diverse. The wealthy and the upper-middle-class will be the primary beneficiaries of this policy. Due to the hotel’s target audience, the first three classes of necessities will be overlooked. The final two classes will assess the quality of the company’s products. According to Collinge (2020), people in the middle and upper classes crave respect. They’re driven by the desire to be recognised for their achievements.
A stakeholder management plan is a kind of project management document that helps to identify the prime stakeholders and some strategies of that hotel. There are so many elements that help to build a stakeholder management plan. With the help of a stakeholder management plan, the Yang Sing hotel project manager can identify all stakeholders and their responsibilities and the cause of their interest in this project.
Under this plan, the first is High power, high interest. Those who conducted this project, such as the investor and the owner, are included in this stage. They have considerable ability to serve some resources to fulfil this project, so they are highly interested in it. They want to see this project run successfully (Corejova et al. 2020).
The second stage is high power low interest. In this case, stakeholders have considerable power to develop the business, but they have limited appeal. As an example, the government is this kind of stakeholder (Foschini, 2021). They have immense power in this project, but they are interested in it. They are just observing whether Yang Sing is maintaining the government policies and law or not.
Customers are also a kind of stakeholder of an organisation. According to this model, they have no considerable interest because they will not benefit from this organisation running high. But they have a lot of power; as per their availability in the hotel, that organisation’s business is run correctly. So, they have some influence in this case.
Next, the stage is low power high interest. The employees of an organisation mainly fall into this stage. They do not have that much power, but they are interested in its success.
With the help of a communication medium like TV, radio, internet, information about the hotel named Yang Sing spread across the country. So these mediums are also a type of stakeholders. Those have high interest and high power as well (Garcia et al. 2020). They need to regularly know all information about the hotel for publishing or telecasting using their medium. They also have a high power on society by dealing with governments, junior employees of there.
The project team members need to know when or how to perform various tasks. The team’s first task will be to re-establish the construction to its former glory. The renovation work is expected to take seven months, from May to November. They will then focus on furnishing the accommodation with luxurious bedding as well as other items. Also, another team will focus on equipping the kitchen as well as other areas. The work should be finished by the end of November.
In this case, in the stage of making a plan for a project, this resource is a very vital thing. It is imperative to identify the resources of this particular project with the help of that the project can fulfil the organisational goal. Here, the organisation primarily needs financial resources to conduct all its activities. Here an outline of some financial resources is given below. For relaunching a hotel here, financial support is very much needed. With the help of that, the organisation can renovate its old structure (Getova et al. 2020). Here are some different cases; some funds are required. Such as some hotel equipment like beds, curtains, pillows, towels, etc., need to buy. The hotel also needs to upgrade its employees, services, and facilities.
Cost estimation is an essential process with the help of these projects planned, implemented, and executed. It is also a callous process for designing and managing the project. It provides a guideline with the help of this the project runs properly It also looks upon the success and failure of the organisation here on the hotel. In some cases, the estimate can be a source of some error, increasing the project’s cost. In this case, to reduce the error cost, the assessment should fix the beginning and adjust it. As per Hillson and Simon (2020), the organiser and the stakeholders should execute that properly when a cost estimation is complete. In an operation section of an organisation, expert judgment is a factor with that company’s help to check the knowledgeable cost estimators. The project manager always depends on the specialist who executes the process and has all the overall ideas about the cost estimation. Nowadays, computerised cost estimation plans are running successfully. But somewhere, the manual cost estimation plan makes it more effective. The manual or human judgment process often reduces the cost estimation more. The direct and indirect labour cost exists. According to Islam and Evans (2020), the direct labour cost denotes the total number of working hours by each project team member is multiple by their hourly wage to arrive. In this case, 20% of direct costs are considered indirect costs. The project’s annual Return On Investment (ROI) rate is calculated using the total project cost. The total investment on the project, average after-tax cost savings, etc., are included in this ROI.
Despite the fact that conflict is a natural and expected component of a project, it can lead to a lack of employees, reduced efficiency, and a postponement in the completion of the project. On the other hand, the dispute can be a catalyst for innovative solutions and increased freedom and a greater understanding of interpersonal relations (Shanker Chandre and Kumar, 2020). Nevertheless, managing conflict is critical to the success of organisation projects. In order to gain better visibility in the Yang Sing project, the five conflict management strategies are mentioned here.
Collaboration
Those who collaborate try to work together to find a solution that meets everyone’s needs through a conjunction of assertiveness and cooperation. This approach, which is the antithesis of avoiding, allows both parties to achieve their goals while also minimising any negative emotions. Collaborating actually works whenever the serious relationship and consequence are essential instance, planning for integrating the design of bedrooms and kitchen requirements into one, the project manager can create collaboration between the two teams.
Competition
Competitors who are assertive and uncommunicative are willing to pursue their own interests to the detriment of those who are collaborative. Highly collaborative competitors will work cooperatively and are often able to develop a good and mutually beneficial relationship with each other. Highly open-minded competitors are likely to be more successful in collaboration and develop a common, cohesive understanding of their role within the project environment. Openness to new ideas and innovation may provide a natural competitive advantage to a firm, but it also means the firm has little incentive to innovate constantly (Sinha et al. 2020). Therefore, the project manager in the team can introduce competition to improve the overall outcome of the project.
Avoiding
When avoiding conflict, people tend to be passive and uncooperative, either politely evading the problem or simply withdrawing from a potentially dangerous situation altogether. Those who believe that conflict is inevitable have the right mindset and resources to minimise the risk of conflict. They seek to be more assertive toward their adversaries and avoid initiating conflict. They use this when it is safer to defer dealing with the situation or when the project manager is not as concerned about the outcome as in a conflict with a coworker over the project’s completion outcome.
Accommodating
It is possible to be accommodating without sacrificing one’s interests in order to appease the other individual. This is the reverse of competitiveness. While it may appear generous, it may be exploiting the vulnerable and causing discontent (Symonenko et al. 2020). Therefore, when the project manager sees different opinions that may lead to a better campaign outcome for the hotel project, they may appease that.
Compromising
This style aims to arrive at an efficient, mutually satisfactory that partly serves the needs of both parties involved in the conflict while still retaining a degree of assertiveness and teamwork. This style is the best choice when the result is not critical and the project manager does not want to waste time. This further can be added while deciding the interior of the project.
For the most part, it is common practice for a project’s financial backer to be in charge of everything from the project’s perception and governance to the actualisation of its advantages and benefits, and this includes everything from planning to implementation. They are essential for a project’s success since they ensure that the project gains the financial profit required to create effective results.
Brand Visibility
Through sponsorship deals, it is possible to get the company in front of people who have never heard of the brand. The number of news and social media mentions of the event grows in tandem with the event’s growing popularity (Taghipour et al. 2020). When a project has a large number of sponsorships, prominent advertisements, signs, as well as radio commercials are all effective ways to increase the brand’s visibility.
Consumer Perception
When a business is always empty, it is difficult to get people to come in and check it out. The company’s public image can make or break its success. On the other hand, customers form positive views about the brand when it is associated with high-profile incidents. Clients will assume that the company is dependable and trustworthy if they are willing to sponsor other charitable organisations.
Efficient Lead Generation
Creating an emotional bond with a customer is half the battle in establishing brand loyalty. In-person attendance provides opportunities to learn more about clients, promote products, and construct an email list. In most cases, event organisers provide information about participants or attendances ahead of time (Thesing et al. 2021). Individuals can create a strategy for gathering as many people as possible after they have done their research thoroughly.
Content Strategy
Event sponsorships offer new content that can be used to further the content strategy. By establishing a social media connection with the event organiser, individuals can select appropriate audiences to reach. When attendees post photos, statements, video files, and blog posts, they will give publicity to wide-area networks due to their participation. Customers respond more positively to the user-generated subject matter, making it simple for them to tag the company on social media.
Return on Investment
Whether the project intends to sell or not, events are about establishing a high-quality relationship with customers. The objective is to leave a list of prospects that can be followed up on later. Individuals are not required to make a significant profit on the day of the event as long as they have a long-term strategy for leveraging the initial investment. It can help the project to gain better visibility and better ROI at the end of the sponsorship.
A visionary leader sets the tone for a team or organisation from the start. It inspires team members by establishing a common vision that they can all strive for. Seeing how their work fits into the larger project vision may motivate team members to apply their specific skills. They will see how their role directly contributes to the project’s success. This style works best when used in combination with a strong team relationship. A project manager may use this leadership style to build rapport with a new team member (Thummadi and Lyytinen, 2020). As the project manager explains the project’s vision, the new team member is invited to consider how their skills can help achieve the project’s goals. First and foremost, visionary leaders must establish and maintain their credibility. Participants will engage with this style if they believe their team leader as well as feel invested in the project’s vision. Therefore, while establishing the hotel project, the project team will feel motivated and complete the work within the designated schedule, which can help the project be completed within seven months.
In conclusion, Yang Sing Oriental will offer them an outstanding hotel experience for which they have established the relaunching of the project. They won’t have to worry about a thing. Self-actualised as well as ultra-wealthy people will soon have their facilities. The hotel’s presidential suites will feature a personalised experience to guarantee that visitors are given the best service possible; a quality control agency will be established to ensure that all the stakeholders gain positive outcomes and the business continues to flourish.
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