Mba – 590 Implementation Plan For Friar Tucker Galleria Project
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Running head: IMPLEMENTATION PLAN FOR FRIAR TUCKER GALLERIA PROJECT
Implementation Plan for Friar Tucker Galleria Project
University of Phoenix
Strategic Implementation and Alignment
MBA 590
John Pucciano
February 26, 2008
Implementation Plan for Friar Tucker Galleria
To survive in this highly competitive business market, companies have to be alert, constantly on watch and come up with new business plans. Development of a project implementation plan is crucial to the success of any business venture and Friar Tucker International (FTI) is no exception. Companies not only have to be selective in the projects they acquire but they have to ensure the projects are in line with the strategic plans of the company. Since no strategy is perfect and without risk, companies need to be aware of risks and constantly on watch. The ability to manage risks allows companies to remain competitive, retain and acquire new customers. Outlining the requirements prior to starting a project can eliminate confusion. Ensuring that time, resources, and issues are all taken into account, planned for, and addressed is a significant part of making sure that the project will meet the measurement of success.
Friar Tucker International (FTI) is a growing company in the hospitality business whose core business revolves around fine cuisine and entertainment. Over the years Friar Tucker has entered into agreements to manage several fine food restaurants, sports bars, hotel chains and other family and corporate entertainment establishments. As the business has increased the number of projects that have come to the doors of Friar Tucker has increased significantly. Therefore, the company needed to have a strategy in order to decide which projects the company should accept and which one’s the company should let go. In order to achieve that the Chief Executive Officer of Friar Tucker, Ricardo Bellini formed a Project Selection Committee consisting of several upper management members and a consultant. These members were assigned to research all the potential projects and align them with overall strategy and experiences of Friar Tucker.
This paper covers Friar Tucker’s current organizational strategy, the unique implementation plan developed for completing the Galleria project, the implementation planning process at FTI, and conclusion.
Friar Tucker’s Strategy
FTI is hospitality services chain with1200 employees, who live the vision of being among the top 10 providers in their industry by offering innovative marketing and superior service levels (Anonymous, 2008). FTI also has a secondary vision to attract more visitors and customers through their food and entertainment establishments and to ensure an enjoyable family experience. FTI wants to establish their presence in the entertainment hospitality segment, consolidate their presence in the cuisine business by expanding into specialty cuisine establishments, and to expand into the corporate entertainment segment.
The Galleria project fits into these key focus areas while strengthening the corporate primary and secondary visions. Although not ideal, Friar Tucker will have to outsource most of the operations to a construction vendor on its Galleria project since FTI does not currently possess the experience needed to handle such projects. Further, this new project will enhance the brand image of FTI. The Galleria project will enable FTI to drive growth and thus coincide with its vision of becoming a top 10 hospitality services provider. What makes this project even more lucrative and attractive at this time is that it will produce multiple revenue streams because of the diverse scope of the project. No strategy is perfect and without risk. However, with Friar Tucker being in the hospitality industry without any major competitors, the risk of building Galleria with Atoll Solutions is minor. In order to minimize risk, Atoll Solutions has created an implementation plan and presented the plan to Friar Tucker.
The Galleria project strategically aligns itself with the core values, visions and focus areas that FTI has developed. The Galleria is a proposed entertainment center that houses a multiple screen theater, indoor gaming, restaurant, two bistro cafД©s and a shopping mall that offers several thousand square feet of retail space. This enterprise is expected to attract a variety of customers considering it is designed to be a complete entertainment center. Since the Galleria is a new project, it is expected to build new core competencies that will allow FTI to achieve their vision of becoming one of the top ten hospitality providers in the industry. The Galleria will also establish a presence into the corporate entertainment segment and strengthen their presence in the entertainment segment (Anonymous, 2008).
Friar Tucker also hopes to strengthen their brand image through the projects they implement. The Galleria project has the potential to impact the vision and objectives of Friar Tucker International. Each person associated with the implementation of this project must successfully complete their tasks on time to avoid delays or failure of the project. The project team also needs to identify any shortfalls, risk factors and consequences associated with the Galleria project. Based on the selection process, Friar Tucker International made a decision to invest in the Galleria project to gain entry into the entertainment and hospitality market where it considered it to be the next strategic stronghold for the company. The Galleria project demonstrated a more favorable outcome.
Unique Implementation Plan for Completing the Galleria Project
The thoughts and ideas for the Galleria Project are humongous, and if accomplished successfully will put Friar Tucker International at the forefront of the hospitality service industry (Anonymous, 2008). There are many deliverables planned for Project Galleria, as well as timelines and those ultimately responsible for the deliverable. The implementation plan for the Galleria project will begin with selection of the specific design and construction process for the facility. Together with Friar Tucker’s Project Selection Committee, Atoll Solutions’ design team will create a concept that suits the diverse needs of a hospitality services provider while attempting to appeal to a broad customer base. The project