Project management for declining hotel revenues and rising costs

Production Management

When deciding which factors are important when revenues are down and costs are on the rise, one must first truly understand what project management means. Project Management, is the application of knowledge, skills, tools, and techniques to describe, organize, oversee, and control various project processes (LC Powers [LCP], 2005, p. 1). Before having the ability to fix a problem one must first determine what the problem is; what factors brought the problem about in the first place, as well as how to prevent the problem from reoccurring in the future.

Improvement and evaluation of the current processes are necessary in order to determine where changes need to take places as well as determine the processes that are working and do not need changing. To improve a process one must go through four phases: description, examination, implementation, and monitoring (LC Powers.com [LCP], 2005, pp. 1-4).

When walking into Hotel *** project manager should first, identify what the problem is (LCP, 2005, p. 2). In this case, the problem is a decline in revenue while costs continue to elevate. Next, create a model of the current process in order to determine where the problem(s) originated and how to deal with them (LCP, p. 3). When the first two processes have been, completed one would then incorporate change into the process model, this will allow one to see where there are possible places for change and give one the opportunity to train all staff and associates on the new processes (LCP, p. 4). Now is the time to monitor the process. During this phase, one will measure performance, monitor potential problems, and look for future improvements.