Creating an Online Holiday Company

This document provides a comprehensive guide on how to create an online holiday company. It covers project goals, objectives, critical success factors, project scope, risks, and more. The document also includes a project organization structure, project control mechanism, reporting framework, stakeholder involvement, project planning with milestones, and budget assumptions.

Creating a online holiday company

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
A project management plan can be considered as a formal document that defines how a
project is going to be carried out. It outlines the scope, goals, budget, timeline, and deliverables
of a project, and it's essential for keeping a project on track. Project management can be defined
as that aspect where the manager is been involved in applying their skills knowledge and abilities
in order to achieve their set target and objectives. In this the deliverables related to time scale and
budgets are been finite. Present project is been based on creating a online holiday company. The
main objective of the project is to provide excellent travel services to consumers online. In this
Go Crazy a new online travel company will provide e-travel services where consumers can book
their rail, bus, train tickets online. They can also book hotels, motels or any other place where
they want to stay and that too online. The budget of the project is with a budget of £50,000.
Present report will lay emphasis on critical success factor like project goal, scope and objectives.
It will also lay focus on any type of risk that has been faced by project.
MAIN BODY
Project goals, objectives and critical success factors
Aim: To open a new online travel company in the upcoming six months.
Objectives:
 To provide excellent travel services to consumer online
 To increase consumer satisfaction by 10% till the end of year 2021
 To increase the profitability by 20% in upcoming year
 To evaluate the factors and risk that can affect the business of new online travel
company.
Critical success factor: The critical success factor for the new project that is online travel
company is that they will be engaged in doing aggressive marketing. In this project manager will
make sure that products and services that has been sold by Go Crazy is been promoted promptly.
They will make use of online marketing channels such as social media platforms so that large
range of consumers can be attracted (Melamed, 2017). Organisation will also be involved in
maintaining public relations through online channels. They will be involved in providing
distinctive services than their competitors in order to gain competitive advantage. It has also
been analysed that start-up will be involved in providing facilities to book tickets online that will
increase consumers flexibility and they will like to explore services online. Also the other
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success factor will be that firm will be engaged in providing cash back services on particular
travellers. They will also collaborate with various hotels so that discount can be provided to
consumers if booking is been done thorough their websites. Go Crazy will also be engaged in
appointing and recruiting skilled and talented staff so that issues and problems that has been
faced by consumers can be solved out effectively. This will assist them in creating consumer
loyalty and also the start-up will be able to grow because of this.
Project scope: The new project which is to open an online travel company is really wide. It will
truly transform the ways travellers with plan their tours. It will also provide employment
opportunities to people (Karma and Susanti, 2017). The services of Go Crazy will not be limited
to particular geographic area so that more and more consumers can explore the benefits that have
been provided by company. Start-up will be engaged in enhancing the travel experience of
consumers by providing them with excellent online services.
Risk constraints: In order to start the new online travel company that is Go Crazy, project
manager needs to be engaged in identifying and assessing various types of risk that can be faced
by them. This is really necessary so in order to make the project successful. It includes the
following:
Risk Impact Risk rating
High-3
Medium-2, low-1
Strategy
Human resource risk In order to run an
online company it is
really necessary that
highly efficient and
expertise workforce is
been recruited by the
project manager as the
online task requires
lots of knowledge. If
this is not been done
than lots of errors can
3 In order to overcome
this risk project
management needs to
be engaged in
providing high level of
training and learning
to employees so that
task can be completed
efficiently. This will
help Go Crazy in
increasing their
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be created by them and
the firm will reduce
their efficiency and
also travelers will not
be attracted to book
their tours with firm.
efficiency and also
productivity. They will
also be able to increase
their profitability.
Risk of fraud and
hacking
There are chances that
when consumers book
the tickets online, the
hackers can hack the
web site and the
personal data and
money of consumers
can be leaked. This
can increase the
chances that
consumers lose trust in
the new online
company. This can
hamper goodwill of
firm(Botsman and
et.al., 2016).
2 In order to overcome
this new online travel
company can make
use of various
phishing software so
that hackers will not
be able to hack the
website and the data
will not be leaked.
This will increase
consumers trust
towards new online
company.
Financial risk This is also one of the
major risk that can be
faced by the new
online travel company
Go crazy. In this there
are chances that
expenses related to
task can be increased.
2 In order to overcome
this project managers
need to be engaged in
doling proper planning
related to budget. This
will help them in
making sure that all
tasks have been carried
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This can affect
managerial efficiency
of firm and also their
productivity can be
reduced down.
forward promptly.
Technological risk This can also be faced
by the new startup.
There are chances that
firm might not be
involved in making
use of the advanced
and new technology.
The impact can be
huge as it can reduce
down the satisfaction
level of consumers.
1 In this the project
manager needs to be
involved in making
sure and doing market
research that advanced
technology is been
used. This will also
assist them in gaining
competitive advantage.
Time: This part will describe the time in which project will be completed. The project of
opening new online holiday company is defined to open within the period of six months. All the
arrangements related to taking forward the activities related to opening company is been done
according to the time limit. Project manager is been engaged in making sure that the project is
been completed on timely basis (Wani and et.al., 2017).
Cost and benefits realization: This part will explore about how time and resources are being
managed by the project managers and how they are been invested in order to earn profit. In this
part project manager will ensure amount of profit that has been earned by them in order to grow.
Benefits needs to be managed in relation with organization change process. This will also assist
new start up in gaining advantage and they will be able to earn more amount of profit which is
really necessary for their growth. It will also include time line and tools that is really necessary
so that set goals and objectives can be achieved.
Project execution challenges: There are various challenges that can be faced by project manager
during execution stage. It has been analyzed that they can face issues related to training of
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human resource. They can also face challenges in managing resources and there are chances that
sustainability is not been created by them. Firm needs to make sure that resources are been
effectively utilized and this can act as a challenge for company. They can also face challenges
while communicating the changes and making employees comfortable with it. Issues related to
making of budget can also be faced by project manager.
Assumptions related to project: These are the factors that are been considered to appear during
the project life cycle. It has been analysed that cultural and environmental changes can affect the
business in positive or in negative way. It can also go through and face situation of pandemic
affecting business adversely.
Stakeholders concern: There are various stakeholders that are been included in the project like
employees, owners, project manager. They can face various concerns related to return or profit
that has been made by the new start up (Park, Lee and Kim, 2018). All these concerns need to be
considered by project manager.
Project organisation structure and roles and responsibilities
There needs to be a organisation structure of Go Crazy company so it defines that who
reports to whom. Also, it state the roles and responsibilities of various people within company.
Thus, the structure will include manager, secretary, department such as operation, sales, etc.
then, below will be travel counsellor, account exe and book keeper.
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Manager – the role will be to develop plans and strategies
Secretary – to monitor entire implementation of plan and take decision by discussion with
manager. Also, to handle and manage activities of department
Travel counsellor- to guide and provide services to people and make travel plans
Account executive- to keep book of accounts and maintain financial records.
Bookkeeper- to record daily income and expenses in database and make entry of it.
Project control mechanism
It is necessary to ensure that project is controlled and completed on time. for that it
require to monitor project activities (Ivankina, 2016). This is because it shows that whether
project is moving in right direction or not. In order to do so there are certain mechanism which
can be followed. It will help in control project. Here, cybernetic control method will be used. It
focus on output so, they will be measured with input hence with help of output it will be easy
to find out any deviation in output. Thus, with help of it project will be controlled. For example
– if there is delay in any activity then accordingly other activities will be modified as well.
Reporting framework
Along with controlling it requires a framework through which communication is done. it
is necessary to communicate so that project progress is identified and match with schedule.
Besides that, project managers gets insight that how much project is completed and remaining,
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what resources are required, progress of particular task, etc. so, in this project there are several
people involved in it such as team members, manager, stakeholder, etc. thus, here there will be
different ways in which communication is done. first is team members will provide data and info
to project manager via e mail and report. Then, project manager will prepare final report and
give to stakeholder. The manager will also use e mail for it. the, if there is any change in scope,
progress, etc of project the manager will communicate through e mail or by taking meeting of all
team members (Paunikar, . and Satkar, 2019). Therefore, in this way communication will take
place effectively.
Stakeholder and their involvement
In this project it is important to find out that who are stakeholder. so, on basis of that
their needs are identified and within project changes is made. Hence, basically, there are 2
stakeholder in it that are internal and external. They are described as :
Internal stakeholders:
 Project team: It is consider one of the most important key element of the project and it is
formulated by the individual for making actual results that helps to execute the plan in
better manner.
 Top Management: Authorities, directors and division manager of Go Crazy are consider
the internal stakeholder.
External stakeholder:
 Government: It is the external stakeholder in which company have to comply all the
rules and inform government in order to make decision.
 Customers: They are also consider important external stakeholder who directly hit by the
decision, even they are not involved within a decision making process.
In order to identify them, stakeholder mapping can be done. This enable in finding out who are
stakeholder of project
Stakeholder mapping:
 High power, low interest: Project team and Project manager are fall under the category
because they have to manage the work as per the requirement and also responsible for all
the task (Talwar,. and Mäntymäki, 2020).
 High power, high interest: It is top management of Go Crazy who have a power to
make any change regarding the project and also make a decision accordingly.
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 Low power, high interest: Customers are fall under this category because they do not
have any power but the project is designed for their benefit only.
 Low power, low interest: Government are fall under this such that they are not
interested in company operation, but project manager should comply with the rules and
guidelines as specified.
Project planning with milestone
It is essential to do planning of project so that it is completed in systematic way.
Planning enables in giving framework and organising overall project activities. Thus, for Go
Crazy project planning will be done by project life cycle stage. Here, there will be 4 stages in it
that are project planning, initiation, execution and closure. So, in all these planning done will
vary and a milestone in each stage will be set (Chang, , Hsu, and Lan, 2019). This will make it
easy for find out event whether is occurred on time or not. Besides that, a PID will be prepared
for planning and on basis of that project is proceeded.
Budget assumption
There require a budget in order to buy resources which are required in completion of
project. The budget estimate must be accurate otherwise lack of fund may led to delay in project
completion (Ivankina, 2016). However, some assumption can be made here as any variation in
budget amount may affect on ROI of project. Thus, budget identified is as below:
Activity Amount
Website development $1500
Salary and wages $1200
Promoting activities $750
Direct expenses $800
Indirect expenses $450
Launch of business $650
Use of tools $500
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CONCLUSION
From the above study it has been summarised that project is related to opening an online
holiday company. There have been various risks that have been associated with the project such
as human resource, finance, technological. All these risks need to be considered so that project
can be made successful. Various challenges have also been faced while executing project.
Strategies have been used to overcome from the challenges and also to increase operational
efficiency and productivity related to business which is necessary for growth. The stakeholder of
project are project team, government, customer, etc. besides that, the cybernetic control
mechanism will be used to control project. The communication will be done via report and
meeting and e mails.
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REFERENCES
Books and Journals
Botsman and et.al., 2016. Airbnb: Building a revolutionary travel company. Said Business
School Case, University of Oxford.
Chang, Y.W., Hsu, P.Y. and Lan, Y.C., 2019. Cooperation and competition between online
travel agencies and hotels. Tourism Management, 71, pp.187-196.
Ivankina, E., 2016. Project Management for Online Visa Purchasing System SoloVisa for the
Finnish Travel Agency Lähialuematkat.
Karma, I.G.M. and Susanti, J., 2017. Development of account receivable and payable system for
travel bureau company. In 2ND International joint conference on science and technology
(IJCST).
Melamed, M., 2017. Online Marketing Plan for a Travel Company.
Park, S.Y., Lee, C.K. and Kim, H., 2018. The influence of corporate social responsibility on
travel company employees. International Journal of Contemporary Hospitality
Management.
Paunikar, M.. and Satkar, S., Travel Guidance and Management System with Hotel Price
Forecasting Feature.
Talwar, S. and Mäntymäki, M., 2020. Barriers toward purchasing from online travel
agencies. International Journal of Hospitality Management, 89, p.102593.
Wani, M. And et.al., 2017. Beyond utilitarian factors: User experience and travel company
website successes. Information Systems Frontiers, 19(4), pp.769-785.
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