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A mega project .doc

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A megaproject is an extremely large-scale investment project. According to the Oxford Handbook of
Megaproject Management, ...
In 1942, Walter Hunziker and Kurt Krapf were the first academics to add to thisidea by disputing the
view of tourism as pu...
The position of the Local Council in talks is among the most challenging. As we shall see, this is not the
greatest moment...
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A mega project .doc

  1. 1. A megaproject is an extremely large-scale investment project. According to the Oxford Handbook of Megaproject Management, "Megaprojects are large-scale, complex ventures that typically cost $1 billion or more, take many years to develop and build, involve multiple public and private stakeholders, are transformational, and impact millions of people". However, $1 billion is not a constraint in defining megaprojects; in some contexts a relative approach is needed, such as in developing countries, where a much smaller project (such as one with a $100 million budget) could constitute a megaproject. Therefore, a more general definition is "Megaprojects are temporary endeavours (i.e. projects) characterized by: large investment commitment, vast complexity (especially in organizational terms), and long-lasting impact on the economy, the environment, and society".(Wikipedia, Megaproject 2022) MEGA RESORTS PROJECTS Moon-shaped mega resorts dubai ($5) The project is meant to help visitors who don’t have connections to Jeff Bezos or Elon Musk experience space tourism. The area around the resort’s lunar surface, dubbed the “lunar colony”, is designed to evoke the sensation of being on (or at least very close to) the surface of the Moon. In addition, visitors can plan to book one of 300 private boutique residences, known as sky villas, which will be housed in the main building’s disc-shaped superstructure. Purchase a villa and you can access the private members’ club on the property. (Givens, 2022) According to Arabian Business, Moon Dubai co-founders Sandra G. Matthews and Michael R. Henderson said in a press statement that the project will have "significant impacts" on the tourism, transportation, commercial and residential real estate, infrastructure, financial services, aviation and space, energy, MICE, agriculture, technology, and education sectors of the United Arab Emirates (UAE) economy. By virtue of its worldwide appeal, brand awareness, and unique numerous integrated offers, [it] will become the greatest and most successful modern tourist project in the MENA area, doubling annual tourism visitation to Dubai. There is a nightclub, an event space, a public lounge, a spa, and a "moon shuttle" thattransports guests around the property. The building is intended to be a focal point forfuture space mission planning by space agencies and their personnel. It will take more than two years to build to its full height of more than 735 feet. It is estimated that at least 2.5 million people will visit annually after the project is finished. Designers, design students, and researchers can use the critical thinking framework as a practical tool to assess the merits of various claims and hypotheses. This allows us to make better decisions and assessments by reducing the influence of prejudice, distraction, and other such variables. The three fundamental tenets of the critical thinking framework are: (1) observing the situation to acquire reasonable understanding, (2) asking questions to analyse andevaluate facts, and (3) locating information that can be used to desig WHOLISTIC FRAMEWORK The term "holistic" is used to describe an approach that looks at the big picture while also considering the smaller pieces. You can think of it as interdisciplinaryif you accept the premise that most social and economic events defy simple explanation and require an approach that transcends the goals of a singlescientific discipline.
  2. 2. In 1942, Walter Hunziker and Kurt Krapf were the first academics to add to thisidea by disputing the view of tourism as purely commercial. They looked at itfrom a more holistic, human, and economic perspective (Williams 2004). Leipermade another another ground-breaking discovery a few years later (1979). He believes that a systems perspective is necessary to have a complete picture of tourism's origins, destinations, revenue centres, hotspots, ecosystems, and flows. Murphy (1985) stresses the significance of using a community-based, all encompassing approach to tourist planning at the regional and municipal levels.People have to live with the decisions made by authority, so they should have asay in how those decisions are made. An integrated strategy that can address economic, ecological, and social systems has been advocated for in recent years. THE ROLE OF KEY STAKEHOLDERS IN TOURIST RESORT DEVELOPMENT There is always more than one group interested in the outcome of a project. People in this category could be customers, specialists in the field, or financiers. A project's operational and financial strategies benefit from having a stakeholder on board. Anyone who cares about the results of the project is considered a stakeholder. Architects, town planners, engineers, quantity surveyors, builders, estate valuers, the general public, developers, the local council, the local planning authority, etc. are all examples of relevant parties involved in a building THE DEVELOPER AND THE PLANNING TEAM When I say "the developer" in this toolbox, I'm referring to anyone or any group with grand plans that could have far-reaching effects on a neighbourhood. For the sake of this discussion, I will generalise about all developers and treat them as a homogeneous group of businesspeople with a shared interest in moving forward with major construction projects. In other contexts, the phrase can refer to landowners or institutions as well. Large-scale housing projects, industrial or commercial developments, or other similarly complicated schemes that may lead to developer contributions or infrastructure improvements are all possible examples. By "small matters," I do not mean things like homeowner applications, changes in use, or anything else that will not need the construction of new facilities elsewhere. THE DEVELOPER’S AGENT AND PLANNING TEAM The "agent," who is typically a licenced town planner3, completes all application papers on behalf of the developer or landowner and manages consultations with the planning officer and other consultees after the application has been submitted and determined. When applying for elaborate plans, the agent will act as project manager. In order to properly support an application for a complex project, it may be necessary to conduct multiple specialised studies. Agents are responsible for coordinating the results of these studies to compile substantial written evidence in favour of the programme and to craft arguments forits approval. THE LOCAL COUNCIL In some cases, local councils are required to be consulted by the LPA on development projects in their region.
  3. 3. The position of the Local Council in talks is among the most challenging. As we shall see, this is not the greatest moment to seek amendments to a project, despite the fact that it has a statutory role in the development process and is only formally consulted after the application has been submitted. All residents of the area need to feel equally represented by the Local Council. Until the issue has been discussed in a formal meeting and decided upon corporately, they should not adopt definite stances, in contrast to the larger community as defined above. They are given extensive instructions on how to keep an open mind until a final recommendation is made to the planning authority. Multiple negotiations are required of the Local Council: • Reach consensus on its approach to community planning as a whole. • Work with the developer to identify and address any new issues as they arise. • Reach consensus amongst its own council members on the optimal solution. KADUNA GEOGRAPHIC INFORMATION SERVICE (KADGIS) This is the state agency in charge of issuance of the Statutory Right of Occupancy as well known as the Certificate of Occupancy. The procedures involves numerous stages, these stages include the submission of a District Head Confirmation Letter from the district head of the particular district for the proposed project site, a Sales agreement and evidence of proper mitigation between the developers and the parcel owners, a Site Analysis Report done by a registered consultant to KADGIS, a Deed of assignment by a registered law practitioner, payment and submission of legal and acceptable means of identification to the organization, a recent unity bill of the applicant and application processing fee. DESIGN CONCEPTUALISATION An architectural, urban, or landscape design competition's end result should be superior to that of a typical building or renovation project. It's goal is to improve city planning and building so that they provide something useful to the people. Typically, a number of different architectural companies will submit competing designs for a project, and a jury or panel will decide which one is the best based on whether or not they attain design perfection. It is planned to solicit competing architectural proposals for this prospective tourist attraction. Amongst many possibilities, the one with the highest aggregate score will be selected. PROJECT MANAGEMENT STRUCTURE Involvement at all levels of the most important stakeholders is crucial for a successful governance plan in project management. It shows that you value their input and are willing to act on their recommendations. Project managers are accountable for creating plans that align with the company's strategy and enforcing those plans across the enterprise. PEOPLE
  4. 4. It's important to keep in mind that your intended outcomes must be specific enough to be attainable. But how can we make sure that these objectives will actually be met? You do this by looking at information gathered throughout completed initiatives. You break down what you set out to do and how you did it for each of those initiatives. How challenging were they to accomplish? Did you require special skills or additional resources to succeed? Using the insights gained from this research, you will be better equipped to develop long-term objectives and then carefully craft the bemethods for achieving those objectives. FINANCIAL RISK Getting your organisation to make more money on a project than it costs is a common goal for managers, but it's not always easy to achieve. It's simple to go over budget if you don't provide the work a thorough estimate. There will be additional costs associated with the project's timeframe and budgetary constraints if there are many changes to the project. Financial risks can be mitigated by meticulous planning and regular project monitoring. PHYSICAL SAFETY RISK In industries like construction and manufacturing, there is typically at least one physical safety risk associated with project management. Because of the size of the machinery employed, accidents are common on these sorts of projects if adequate precautions aren't taken. In addition, if you didn't adhere to all the relevant requirements when planning and advancing the project, you could get in problems with the Occupational Safety and Health Administration (OSHA). TECHNICAL RISK Poor planning or a project manager taking on more than they can handle are common causes of technical risk. Technical risk increases dramatically when a project manager accepts responsibility for a task that requires more expertise than they or their team possess, or when they do not have sufficient time or resources to complete the task. Issues can also arise if clients haven't clearly articulated their expectations for a project, or if there is no reliable means to evaluate whether or not your work has satisfied these expectations. CONTRACTUAL RISK To reduce uncertainty in projects, contracts and proposals should be carefully drafted and adhered to. Not following the terms of the contract can pose legal consequences. A corporation would be in violation of contract if, for instance, it failed to transfer title to the deliverables it had promised a customer. Mishandling sensitive client information might potentially put you in breach of contract danger. Finally, there is a risk of not following the contractual terms if the project team does not fully grasp them. EXOGENOUS AND ENDOGENOUS RISK Is a form of economic uncertainty brought about by the actions of traders. Jon Danielsson and Hyun- Song Shin first put forth the idea in 2002. There are two types of risk, referred to as external and endogenous, respectively. Financial exogenous risk refers to shocks that come from outside the system,
  5. 5. such as an asteroid striking the planet. Individuals in the market will have an emotional response to the shock but will not be able to affect it. Endogenous risk, on the other hand, is the product of the interplay between market participants, who bring their own unique sets of knowledge, skills, attitudes, and resources to the table. Endogenous risk includes, in particular, systemic risk. FINANCIAL EVALUATION Analysis of project costs and benefits. It's the process of looking into all the aspects of a planned project to see how well it'll turn out in the long run. It is only via this preliminary assessment that the developer can determine whether or not the project will be useful in achieving their goals. Before any money is dispersed, a thorough financial analysis must be conducted. This is crucial because without it, numerous financial risks associated with the project would go unconsidered, greatly increasing the likelihood of failure. It's important to remember that because this assessment is predicated on projections, it can't say for sure whether the project will succeed or fail. CONCLUSION As we have seen in this report, tourism is a complex system that is built up of industry sectors including accommodation, recreation and entertainment, food and beverage services, transportation, and travel services. It encompasses domestic, inbound, and outbound travel for business, leisure, or other purposes. And because of this large scope, tourism development requires participation from all walks of life, including private business, governmental agencies, educational institutions, communities, and citizens. Recognizing the diverse nature of the industry and the significant contributions tourism makes toward economic and social value to the universe is important. There remains a great deal of work to better educate members of the tourism industry, other sectors, and the public about the ways tourism contributes to our province and economic. REFERENCE Tourist resort definition (no date) Law Insider. Available at: https://www.lawinsider.com/dictionary/tourist-resort (Accessed: February 7, 2023). Megaproject (2022) Wikipedia. Wikimedia Foundation. Available at: https://en.wikipedia.org/wiki/Megaproject (Accessed: February 7, 2023). Givens, D. (2022) Dubai is building a gigantic $5 billion moon-shaped mega-resort, because of course, Robb Report. Robb Report. Available at: https://robbreport.com/travel/resorts/5-billion-dollar- moon dubai-mega-resort-1234746714/ (Accessed: February 7, 2023). What is risk? definition of risk, risk meaning (no date) The Economic Times. Available at: https://economictimes.indiatimes.com/definition/risk (Accessed: February 7, 2023). Tourism (2022) Tourism Economics " concept, importance of Tourism Economics, Tourism Beast. Available at: https://www.tourismbeast.com/concept-of-tourism-economics/ (Accessed: December 8, 2022). (PDF) Sustainable Tourism: A state‐of‐the‐art review (no date). Available at: https://www.researchgate.net/publication/232818446_Sustainable_tourism_A_state-of-the art_review (Accessed: December 8, 2022). The indeed editorial team (no date). Available at: https://www.indeed.com/lead/indeed-editorial-team
  6. 6. (Accessed: December 8, 2022). Home - Dorset Association of Parish and town councils (no date) Home - Dorset Association of Parish and Town Councils. Available at: https://www.dorset-aptc.gov.uk/Home_26578.aspx (Accessed: December 7, 2022). (Pellegram) Hotel Resort (no date) Reference for Business. Available at: https://www.referenceforbusiness.com/business-plans/Business-Plans-Volume-07/Hotel Resort.html (Accessed: December 8, 2022). Home - Dorset Association of Parish and town councils, Home - Dorset Association of Parish and Town Councils. Available at: https://www.dorset-aptc.gov.uk/Home_26578.aspx (Accessed: December 7, 2022). (Rohit R. Sarde) Phases of tourism product development (no date) Tutorials Point. Available at: https://www.tutorialspoint.com/tourism_management/tourism_management_phases_of_product_dev elopment.htm (Accessed: December 7, 2022). Home - Project Management Governance - Complete Guide, ProProfs Project Blog. ProProfs. Available at: https://www.proprofsproject.com/blog/project-management-governance/ (Accessed: December 7, 2022). (Miller, 2022) panelNellLeiper(Lecturer)∗, A.links open overlay et al. (2002) The framework of tourism: Towards a definition of tourism, tourist, and the Tourist Industry, Annals of Tourism Research. Pergamon. Available at: https://www.sciencedirect.com/science/article/pii/0160738379900033

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