Project Management Activities For Efficiency, Productivity, And Financial Performance At Lightning Fast Theme Park, Resort, And Zoo

About Lightning Fast Theme Park, Resort, and Zoo

One project that will generate value for Lightning Fast will be installation of food and drinks stalls. With increasing popularity of the theme park, more and more people will visit the park every day. Hence, food and drinks stalls will allow the visitors to refresh themselves and will also be strong sources of revenue from the theme park. The food stalls can be snacks stalls, meal stalls, ice cream parlors and others and drinks stalls can be soda and soft drinks stalls, water stalls and others. With increasing number of visitors, the revenues in the food stalls will gradually increase. Moreover, due to the presence of the food stalls, more people will be attracted to visit the theme park that will further boost the revenue of the park.

The most important process group for Lightning Fast is Monitoring and Controlling. Theme parks have a large number of features that need monitoring for successful functioning of the park. The theme park in this case study contains a large number of rides like roller coaster, toy trains, monorail, chairlift, time twister and others. Every ride has a specific ticket counter where the visitors have to be purchase tickets to access the ride. Again, there are souvenir shops and information kiosk for the convenience of the visitors. Monitoring is necessary to see whether all the operations are done correctly. Moreover, controlling is required to ensure that the operations are within the controls. The operations include proper running of the rides, collection of revenues, cleaning of the facilities and paths, maintenance of the washrooms, food stalls and others.

Unites 3 and 4

Client satisfaction is the first priority for the theme park. Hence, for the proposed project in the park, a suitable management plan is needed. The deliverables of the project with emphasis on client satisfaction are as follows.

Internal:-

• Construction of food and drinks stalls
• Hiring of cleaning staffs for keeping the eating area clean
• Signing of contract with suppliers for the supply of different food items and drinks

External:-

• Setting the prices of the food products and a tax percentage on the food vendors
• Promotion of the theme park including information about the food stalls and new features
• Distribution of one-time usable discount coupons for the rides as well as the food stalls of the theme park

Project communication between the stakeholders can be enhanced by arranging stakeholder meetings every one or two weeks in the park auditorium. The main objective of these meetings will be to discuss the success of the park in the last one week. Accordingly, the stakeholders can discuss possible ways that can be used to enhance the quality of services in the park and attract more customers. Moreover, the stakeholders can also discuss about the financial planning and approval of additional funding for the enhancement of the park.

Initially, during the construction of the food stalls, the park will have to closed for some time. This will be subject to high client pressure as this park is extremely popular and the visitors will not let it close down for some time. Hence, a few months prior to the project implementation, visitors should be notified the developments that are expected from the project and as a result, the park must be closed for some days.

Units 5 and 6

A project definition statement defines the ultimate objective of the project and can be analyzed by all the stakeholders and project team members to understand their roles in the project. When the final goal of the project is set using the definition statement, the team members can learn the deliverables of the project and can chalk out a plan that will help them make suitable contributions to the project. Moreover, along with the project definition statement, a roles list is attached where the roles of the stakeholders in the project are defined. The following is the list of the stakeholders that are related with the project.

Most Famous Attraction: Lightning Rod Roller-Coaster

As a part of the problem escalation strategy, the stakeholders will meet in the theme park auditorium where they will discuss about the problem and find suitable solutions. Involvement of all the stakeholders will ensure the finding of a suitable solution that will help to solve the particular problem or risk.

Units 7 and 8

The closure of the project will depend on the outcome of the project. Once the construction of the food stalls are complete, the stakeholders will meet together and discuss the overall expenses encountered in the course of the project. These expenses will then be compared with the estimated expenses prepared during the project planning phase. At this point, the stakeholders will give a final verdict on the success of the project. Then the stakeholders will sign off. After a year, the net profit from the food stalls will be calculated and will then be finally compared with the actual estimated cost benefit prepared during the project planning. Once significant benefit is obtained, the project will be finally closed and signed off.

The value creation can be demonstrated to the Lightning Fast stakeholders by preparing an accurate report based on the percentage increase of the revenue gathered from the park. It has been expected that in the first year alone, the expected rise in the park revenue is at least 30%.

Agile project management is based on several iterations where the errors in each phase are removed and then the next phase is executed. On the other hand, traditional project management is based on execution of the complete project and then the risk management. Traditional project management does not involve any iteration and the risks and issues are mitigated once the project is completed. In this project, the most suitable is the traditional project management as there are no significant phase-wise risks are present and moreover, execution of agile project management will increase the overall expenses and decrease the value creation of the project.

Unit 9

I have learnt the following from this project.

• I have learnt that a project is to be planned with every detail before execution. Moreover, the estimations must be accurate and there are no room for errors in a project.
• I have learnt that the success of a project depends greatly upon the value created by it on the company as well as the customers.
• Customer demands must be addressed through the projects.

The learning from this module has also affected my outcome on personal life. I have learnt to prepare specific plans and risk assessments before taking a big step in my life. I have learnt to manage my duties in my professional field. The module has provided me with a clear idea regarding my approach to work. There are always rooms for further development in the topics covered as there are some more subtle details that have been passed during the course of the module. In my personal and professional life, I will try to apply the lessons learnt in this module.

In personal life, I will face all the problems and sort them using the project management skills. Again, during my career development, I will analyze my options just as I did in this module in terms of project management. I have learnt to prepare suitable plan for my career and schedule my duties in the form of a routine. Accordingly, I follow the scheduling to gain successful outcomes in my career. Hence, this module has been able to change my views towards my professional and personal life.

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