The assessment aims to present a proposal for the project strategy framework for a new cruise terminal in Sydney. It presents the viability of the project and creates a portfolio that meets the organisations’ strategic goals and requirements. The proposal is presented as a strategic framework for stakeholder's reference. The assessment discusses the project background and objectives. It presents the competitive advantage of the proposed framework and its criteria for success and failure. The proposal acknowledges the existing environment and delivers an ideal description of the project to meet the necessary goals and requirements of the organisation.
Sydney is Australia's primary cruise industry port which has developed through a mixture of available facilities, international appeal and supportive policies of the government. A new terminal will certainly be profitable in the long-run with the increase in tourism and globalisation. This is the proposal for a strategic project framework of a new cruise terminal in Sydney. A major proposal like this needs to be elaborative and rational to be able to attract the stakeholders. For this, the study of other successful terminals is done to have an idea about the execution and completion of such strategic projects. The evaluation of the project is done by considering the standards and goals of the organisation. The evaluation methods also include the architectural study and viability of the project. It acknowledges the industry inadequacy in the process of development of such project and offers counter explication for that.
Australia has the world’s highest penetration rate of 5.3 per cent with Sydney being its largest tourism destination. The demand for cruise ships are increasing exponentially however, the ships are expected to decrease which gives a space for another terminal cruise (NSW Government, 2018). Therefore, Sydney is the best place for the next cruise terminal. The objective of the project is to analyse the portfolio requirements and evaluate the success of the project based on organisational goals, strategy and standards in establishing this terminal. The site selection process needs to be done initially. There will be different goals for different departments required for establishing the terminal. The financial department will ensure that the project is within the decided budget and all trustworthy sources are targeted for funding of the project. The terms will be followed by the authority and incentives are required to assure the stakeholders that the operator does not act only in its interest but also consider the managerial objectives of the terminal authority.
Project management in corporate project management is usually driven by documentation and paperwork. The project will begin by collecting the necessary data from local architects and historians. The investigation will be based on written sources as well as visual observation (Daniel, 2009). After gaining an understanding of the local producers and architectural typologies the development of terminal can initiate. The project will explore all options to maximise the number of passengers into the overseas passenger terminal and also the maximum utilisation of the berths at the terminal. For the funding of the project, various local and state funding sources will be contacted. It is understood that the project will be technically challenging, for that well-experienced engineers and architects will be hired to lay out the entire texture of the terminal. The project will be reviewed at every step to make adjustments in the planned procedure according to the changing environment and policies. The ecosystem factors influenced by the local and global factors also will be considered in making decisions in the project (Korbee, Mol & Tatenhove, 2015). Therefore, for the development of its infrastructure, the policies set by the environmental organisations will be followed to avoid any disputes in the future.
It is understood that while establishing this project due to asymmetric information, there will exist a certain conflict of interest between the contractor and operating parties. Therefore, specific incentives are necessary to avoid such undesirable outcomes (Notteboom, Pallis & Wang, 2014). This way proposal will ensure to be beneficial to all the stakeholders linked to it. The project includes the study, design and construction of the terminal after studying the environmental impact. The project offered will have a competitive advantage with the application of real-time simulation in the design of the Sydney Cruise terminal project. The preliminary approach channel connects open waters to a turning area where the jetty is located, in front of the berthing area. Under the influence of environmental forces, the real-time simulation study forms the behaviour of the specific ship while manoeuvring in port areas (Lin, Luo and Wang, 2019). The project offers a sustainable proposal which benefits all the stakeholders of the cruise terminal.
While the industry is regarded for the primary purpose of profit maximisation a satisfaction of shareholders interest, it is duly noted that the business objectives are consistent with the overall objectives of all the stakeholders. The most cited stakeholders on whom the business is dependent on is the customers (Penco, Perfumo & Scarsi, 2017). Therefore, research on there preferences and limitations on other cruise terminals according to their perception will be done to provide the highest satisfaction. The new Sydney cruise terminal will also contribute by increasing economic output by generating employment in various sectors including manufacturing, lodging, transportation, financial services and restaurants. The entire project will be based on the set guidelines by the government and environmental organisations to avoid any future disputes.
There will be a lot of challenges in the way of project management. Lack of investment will be one of the major challenges. Therefore, it will be ensured that enough funding is available or can be arranged when needed before pursuing the work. This will also be required to maintain a contingency fund if needed for the unfortunate failure of the project. There will always be a security fund available which will be maintained duly. Also, there could be some technical glitch which would result in the major failure of all the efforts. For example, engine failure of the cruise ship that can be caused by various factors. A contingency plan for situations like this will be made. There will be the availability of immediate help for the security forces and plenty of necessary types of equipment will be available. The success of the project will be beneficial to not only the government of Australia but also its economy (Department of Industry, 2017). It will be able to provide significant economic impact by promoting tourism and sourcing food, beverages and other consumable products from local NSW and Australian suppliers and producers. The success of the strategic proposal will benefit all the stakeholders in the long-run financially.
Over the last two decades, the cruise industry has shown an increase in demand. This framework has is responded to avail of this opportunity by bringing in a holistic strategic project. The proposal of the new Sydney Crusie Terminal set above depicts all the necessary steps that will be followed in the completion of the project by taking all the stakeholders into account. The proposal explains the competitive advantage of this framework and criteria of how the failure criteria will be handled during the development process. The concerns regarding environmental impact which is a major issue in current business processes will also be taken in an ethically responsible way.
Daniel, T. J. (2009). A New Cruise Ship Terminal & Urban Waterfront Proposal for the Settlement of Lyttelton. Retrieved from https://core.ac.uk/download/pdf/70765435.pdf
Department of Industry. (2017). The Report of The Cruise Industry Reference Group. Retrieved from file:///C:/Users/91870/AppData/Local/Temp/Rar$DIa0.585/Cruise_Industry_Reference_Group_Report_-_Peter_Collins.pdf
Lin, H. X., Luo, Z., & Wang, C. (2019). Application of Real-Time Simulation in the Design of Panama Amador Cruise Terminal Project. International Society of Offshore and Polar Engineers. Retrieved from https://www.onepetro.org/conference-paper/ISOPE-I-19-397
NSW Government (2018). NSW Cruise Development Plan. Retrieved from https://www.business.nsw.gov.au/__data/assets/pdf_file/0008/261476/NSW-Cruise-Development-Plan.pdf
Notteboom, T. E., Pallis, A. A., & Wang, G. W. Y. (2014). Incentives in cruise terminal concession contracts. Research in Transportation Business & Management 13, 36-42. Retrieved from https://www.sciencedirect.com/science/article/abs/pii/S2210539514000881
Penco, L., Perfumo, G., & Scarsi, R. (2017). Stakeholder Orientation in Cruise Lines’ Mission Statements. Department of Economics and Business Studies. Retrieved from file:///C:/Users/91870/Downloads/sustainability-09-02151.pdf
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