Project life cycle characteristics
Aspire Corporation's Proposed Project: Aspire Fitness Club and Spa
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Contents
Work Breakdown Structure (WBS) 9
Executive Summary
Introduction
Project Overview
Scope
The purpose of this proposal study is to analyze the Aspire Fitness Club and Spa project in detail and propose a strategy for moving forward with it. It includes a detailed overview of the project's aims, the budget, a risk analysis, a projected period, quality control systems, a team structure, and the option to ask for more financing. As part of Aspire Corp's commercial diversification plan, the Aspire Fitness Club and Spa project is the exclusive focus of this study, which examines all relevant factors to ensure its effective implementation and long-term viability(Jackson, 2021).
Project Life Cycle Characteristics
Initiation Phase - The project is created during this phase, which also includes developing the project proposal, conducting preliminary feasibility studies, and determining if the company's portfolio requires a fitness facility and spa.
The Initiation Phase is when the idea for the project is conceived, a project proposal is written, and preliminary feasibility studies are performed to see if a fitness center and spa are needed as part of the company's offerings.
Project Phase
Conceptualization Phase - The initial concept for the spa and fitness center is created during this stage, with input from clients and consideration given to both business and market needs. The project's potential and practicality must be assessed before any further preparations can be made.
Launch Phase -The Aspire Health Club and Spa will open to the public during the debut phase. A well-planned marketing and promotional strategy can raise the profile and bring in new participants. The goal is to provide first-rate service to every customer.
Operations Phase - The spa and the fitness facility will be run on a day-to-day basis during the operations phase. Keeping the building in good shape, managing the staff, delivering first-rate health and fitness services, and making sure the customers are happy are all part of the job.
Key Stakeholders
Organization Structure
Operational Staff - Individuals responsible for overseeing the day-to-day operations of the spa and fitness facility, including administrative personnel, building administrators, and customer service agents.
External Consultants and Specialists - Providing expertise in areas such as construction, architecture, equipment procurement, and regulatory compliance to ensure that the project adheres to all stipulations.
Responsibilities of Project
According to Mascia (2019), the individual demonstrates prompt and effective resolution of any difficulties and hazards in the project.
Functional Teams:
Advisory Board or Steering Committee:
Assists the project manager in decision-making and provides strategic guidance.
Work Breakdown Structure (WBS)
Risk Management
The Aspire Fitness Club and Spa project would have a thorough risk management approach to effectively address any challenges and uncertainties. Initially, a comprehensive evaluation of risks will be undertaken, encompassing factors such as evolving consumer preferences, potential construction delays, challenges related to regulatory adherence, fluctuations in market demand, and limitations imposed by financial resources (Liudmyla et al., 2020). A thorough risk assessment will be generated through the collection of comments from key stakeholders and subject matter experts. After the identification phase, each risk will be subjected to a thorough review and graded based on its likelihood and impact. The objective of formulating and executing targeted risk mitigation strategies is to reduce the probability and impact of recognized hazards. Contingency plans shall be formulated to effectively mitigate any unanticipated challenges or hindrances that may arise during both the construction and operational phases. The implementation of a robust monitoring and control system is essential to ensure the successful management of risks. This will facilitate the timely recognition of any emerging dangers and facilitate the monitoring of the progress made in implementing risk mitigation measures. The project plan would possess sufficient flexibility to promptly accommodate unforeseen risks and changing circumstances. During the project, all identified risks will be diligently documented and consistently communicated, along with the corresponding methods for risk mitigation.
Probability and Impact Matrix
Cost of Quality
Cost of Baseline
Project Closure
A critical stage in the project management process, project closure guarantees that the project is concluded systematically. The Aspire Fitness Club and Spa project closing method can be broken into the following steps:
It is imperative that all accessible resources, encompassing persons, equipment, and facilities, be rendered readily available. It is imperative to ensure strict adherence to the contractual stipulations and duly inform the rightful owners of any resources that have been borrowed or rented.
The process of preparing the final report. Produce a comprehensive final report that presents a thorough analysis of the project's outcomes, delineates encountered challenges, elucidates the allocation of budgetary resources, and includes other relevant and significant details. To offer a comprehensive assessment of the project's success, it is imperative to deliver a concise overview of the project metrics and key performance indicators.
Closure is one of the final processes in project management and ensures that everything is finished properly. The final steps of the Aspire Fitness Club and Spa project can be broken down as follows:
Verify that all deliverables have been completed as expected and within the project's scope. You need the client's OK for this. Get the customer's or any interested parties' written consent.
Include everything from the project's triumphs to its failures, as well as how the funds were spent. To give a full picture of the project's performance, please summarize its metrics and key performance indicators.
Recognize and applaud the contributions of all those involved in the project. Throw a celebration or hold a meeting to celebrate the project's completion and the hard work of the team members.
Part- 2
The construction of the railroad has many benefits, including those listed below:
Enhanced Regional Connectivity: The high-speed train will expedite and facilitate passenger travel between Bangkok and Chiang Mai.
It is necessary to implement safeguards to prevent the project's costs from exceeding the prescribed budget of 100 billion baht. For the project's timely completion and long-term profitability, effective risk mitigation strategies and meticulous monitoring and administration of its execution are essential.
The high-speed rail proposal presents supplementary sources of revenue, beyond ticket sales, which have the potential to enhance its financial feasibility. The supplementary sources of revenue encompass the subsequent:
• Establish partnerships with regional travel companies and agencies to provide comprehensive holiday packages encompassing accommodations, transportation, and supplementary amenities. • Alongside enhanced seating and onboard facilities, premium services such as Wi-Fi, culinary offerings, and entertainment should be made available. The objective of this project is to foster economic growth at the local level and provide job prospects through the promotion of tourism along the railway route. By offering these high-end services, it will be able to attract a larger number of affluent clientele, hence potentially increasing your average revenue per visitor. Engage in governmental programs aimed at fostering regional development, promoting environmentally sustainable transportation, and facilitating infrastructure expansion. The enhancement of the railroad's financial status might be achieved through active engagement in governmental projects and the acquisition of additional funds in the form of grants, subsidies, and financing.
The construction of a high-speed train connection between Bangkok and Chiang Mai is recommended, considering the findings of the project's feasibility analysis and the possibility of supplementary income streams. Upon conducting a thorough examination of the project's feasibility, it has been determined that the advantages, including improved social development, expedited economic growth, greater regional connection, and upgraded transportation infrastructure, surpass the corresponding risks and expenses. Nevertheless, it is imperative to strictly adhere to the project budget and employ efficient risk management measures.
References:
Khatri, Dr. M. (2021). How Digital Marketing along with Artificial Intelligence is Transforming Consumer Behaviour? International Journal for Research in Applied Science and Engineering Technology, 9(VII), 523–527. https://doi.org/10.22214/ijraset.2021.36287
Liudmyla, D., Oleksandr, D., Andrii, H., & Olena, S. (2020). Consumer Behavior Modeling for Fitness Services Evaluation. Studies in Business and Economics, 15(2), 69–84. https://doi.org/10.2478/sbe-2020-0026
Nakata, T., Takura, T., Yokoi, H., Nakajima, K., Kohsaka, S., Hashimoto, A., & Nakamura, M. (2020). Design of the Japanese Comprehensive Health-Economic Assessment for Appropriate Cardiac Imaging Strategy Including Outcome and Cost-Effectiveness in Stable Coronary Artery Disease Study (J-CONCIOUS). Circulation Reports, 2(12), 759–763. https://doi.org/10.1253/circrep.cr-20-0109
