Running head: IMPLEMENTATION PLAN FOR FRIAR TUCKER GALLERIA PROJECT
Implementation Plan for Friar Tucker Galleria Project
University of Phoenix
Implementation Plan for Friar Tucker Galleria
As the world economy continues to grow and evolve local and national business models need to change toward the global trend. With the world market saturated with competition and new innovation around every corner, Friar Tucker International (FTI) has identified the need for growth and change within its organization so it can remain a major player in the hospitality service industry. In order to strengthen its position in the market, the company wants to diversify its product and service offerings and broaden its customer base. To do so FTI has identified three focus areas of continued development; entertainment hospitality, cuisine business, and corporate entertainment (UofP, 2007). To ensure that future project development is in line with these corporate goals, FTI’s CEO, Ricardo Bellini has created a Project Selection Committee (PSC) to identify and select projects that will yield the greatest Return on Investment (ROI) and that are in alignment with the organizations stated focus areas.
This paper will briefly summarize the FTI scenario, and review the project selection process. It will then define a project implementation strategy by; listing action item deliverables, identifying deadlines for deliverables, identifying who will be responsible for each deliverable, and finally will assess potential shortfalls, risk factors, and consequences for the plan. Successful implementation is critical to realizing the potential gains of this project plan while minimizing the risks associated with any new venture.
Friar Tucker’s Strategy
Friar Tucker International (FTI) is a hospitality services chain that manages over 60 entertainment and cuisine establishments. The company also is affiliated with two large hotel chains. It employs approximately 1200...