Introduction: The Review of Durham Millennium City Project
In this review, the Durham Millennium City project was evaluated on the grounds of OCG Gateway Review. The success of the Durham Millennium City project was measured through the reviews of this model as a stencil. The operational success of the project has been kept under evaluation as well while considering the futuristic profitability of the project on the whole.
The review of the business case and proposed benefits
The primary phase of a project is to consider the outcomes and proposed health of the project over a period of time giving it, its useful life. The project is normally broken down into components like the Durham Millennium City project constituents and while this is being decided, the relationship that is to be established and promoted between the customers and the client has to be carefully designed to promote the success factors of a singular project (Lundin & Hartman, 2000; Bell & Morse, 1999).
Justifying the monetary value
As the future value is being aligned, the value for money and the future services are considered against the procurement and the supplies of the project to make sure that the spending over the project is not over the charts. In a time period, the project has to be evaluated over the time it’s destined to create revenues, and if the money value is not tracked the profitability and the cost-benefit might not be achieved. Value improvement of a project in the future can be an indication of its success if it is considered aligned with a carefully planned strategy, thus the modification of the services.
Durham City project is working to deliver value to its locals and will be successful to a certain extent before the value will need to be replenished with a dose of considerable innovation over time. The cost of the facility has to be reduced in time but during the project implementation, it is important to identify the maintenance costs to give the project a longer useful life, which if not carefully examined can reduce the chances of success and the project might lose its splendor (Kousholt, 2007).
Focus on continuous improvements might not be relevant
Durham Millennium City Project has been designed to facilitate the consumers in the local market specifically targeted on the basis of their involvement in leisure activities and the community members who appreciate a classy décor with a preset class of services being offered at the location. The city project was termed to be focusing on continual improvements and innovation while looking forward to enhancing the performance of the overall services being offered at the City project. The City project is undoubtedly looking forward to enhancing their leisure activities and providing a considerable experience to its customers but as the reference puts it, customer experience is based on the relative taste and how they perceive the art and the ability of a certain place to amuse the senses whereby ignoring the overall service offering as quoted by the location. Durham City Projects can work on the performance but until the project has settled down and the created hype has been diminished, only then the marvel of the City project will be fully examined as to how it can maintain its position as a public leisure place. Relatively new projects might have a higher frequency of visitors but as time passes, the hype and the amusement diminishes, whether it’s a communal gift or not (Gaskell, 1999).
Change and Organizational learning vs. Investment
As the project is near completion, the basic decision to make it go live in the market is emphasized and while the project takes a long time to complete, the most recent developments are never ignored. An opera house can be converted into a theater; a shopping mall can be equipped with a whole floor of arcade zone. The public interests and the changes in the business world are unpredictable and certainly unprecedented at certain points but public interests are subject to change gradually and they are normally followed with the market offering (Kerzner 2004). A certain handbook for travel might or might not include locations that are termed as key tourist attractions so as the Durham City Project goes, the public interests will definitely confide in the local population for a while before they can be used as an attraction for voluntary visitors from a distance. The success of the project still depends on the local responsiveness and how the services are perceived to assist the locals in their daily lives. As the management learns new ways of modifying the services and primarily setting up a new offering at the location, the business has to be fully exploited at its maximum extent to modify its core competency. The question arises: how can a business incorporate a last-minute development in a nearly complete project. The project is well managed does not guarantee its success (Choudhury, 1988; Kerzner, 2004).
Therefore the investment requires intensive planning before the commencement of a project before making the considerable investment, and committing resources. Continual change in the business case might render the allocated resources useless.
Conclusion: Benefit Realization
The project is always subject to constant evaluation for its future functionality and every single stage of the life cycle has its relative evaluation criteria to measure as to what extent the project can really function in order to fully exploit its potential. The future is unpredictable and subject to change when a certain locality has built an appetite for a specific service. This phase focuses less on exit strategy and more on how to prolong its profitability era so that the revenue streams can be prolonged over the project life. The flexibility of the service is definitely reviewed but to keep the core competency intact the constant change of services is definitely not a good option because that compromises the core competency and the relative profit-making ability of the venture. Prior to the start of the project, the profitability has to be accounted for on the basis of the chosen services that will be provided but the benefits are more highlighted and the best alternative is chosen, not to be changed or replaced, but to be modified and explored (Snyder & Duarte 2003).
The flexibility of the service is definitely reviewed but to keep the core competency intact the constant change of services is definitely not a good option because that compromises the core competency and the relative profit-making ability of the venture. Prior to the start of the project, the profitability has to be accounted for on the basis of the chosen services that will be provided but the benefits are more highlighted and the best alternative is chosen, not to be changed or replaced, but to be modified and explored (Snyder & Duarte 2003).
References
Bell, S. & Morse, S. (1999) Sustainability indicators: measuring the immeasurable? EarthScan, p.8.
Choudhury, S. (1988) Project management. Tata, McGraw-Hill Education.
Gaskell, P. (1999) Landmarks in continental European literature. London, Routledge.
Kerzner, H. (2004) Advanced project management: best practices on implementation. New York, John Wiley and Sons.
Kousholt, B. (2007) Project Management. Nyt Teknisk, Forlag.
Lundin, R. & Hartman, F. (2000) Projects as business constituents and guiding motives. Boston, Kluwer Academic Publishers.
Snyder, N. & Duarte, D. (2003) Strategic innovation: Embedding innovation as a core competency in your organization. New York, John Wiley and Sons.