17.7 Integrated Master Planning for Destination Development - Part 7 – Business Master Plan

First before getting into the Business Master Plan lets remind ourselves what Integrated Master Planning is all about.

Integrated Master Planning - the process of Orchestrating the vast range of technical and professional disciplines in order to execute a development. This includes marketing, environmental analysis, programing, physical planning, economic planning, social planning, execution and operations planning.

In discussing each part of the Integrated Master Planning for Destination Development process, I will use the same methodology which is answering the following questions.

1.   What is the objective of this phase of the process?

To compile in a brief executive summary of all the critical issues of the development of the business so it can be quickly comprehensible to shareholders and or potential investors.  It is also enhanced with critical information developed by the Orchestrator primarily such key issues of phasing the execution.  This becomes the road map for executing the development. 

It is this summary of all the professional expertise on the development that is critical to making all the time and effort and cost pay off by the simple fact that the information becomes use able!

We call this the Business Master Plan because we want to emphasize its objective to execute and make the business work. Too often the words Master Plan is thought of as a single plan or map and does not sufficiently tell how to make the business work and hence difficult to execute.

We must emphasize the Business Master Plan must be executed with judgement along the way and can almost never be followed 100% word for word, hence professional involvement is essential through out a development.

2.  What expertise is involved in this phase of the process?

This is taking all the expertise put into the project but eventually compiled and further processed by the Orchestrator.  The Orchestrator needs to use professional judgement to compile marketing, engineering, design, finance, operations, etc. into a comprehensive strategy road map.

3.  What are some of the common mistakes?

The Business Plan Master Plan is not something that is seen to be essential to compile thinking all the parts are available and no need to spend time to formally compile them.  When shareholders or investor ask for something then it is quick compiled usually omitting some key issues or information and hence explanation appears flawed or unprepared.

4.  Any other issues that relate to this phase?

This comprehensive Business Master Plan is an internal test to see the development strategy is sound.  This then becomes the basis for all communications to both shareholders as well as the public. And it ensures consistency in the message being sent.  

The Business Master Plan is like a financial statement in a sense that it is a snap shot at a point in time.  This plan will need to be periodically updated and revised.

Go to previous parts of the series and look for future parts.

Part 1 – Need for a Methodology?

Part 2 – Environmental / Site Analysis

Part 3 – Market Analysis

Part 4 – Product Development
Part 5 -  Physical Planning / Design
Part 6 -  Cost Plan
Part 7 -  Business Master Plan
Part 8 -  Site Execution
Part 9 – Operations Management
Part 10 - Review and Revise


Jiwa Studio
Singapore, December 2011
http://jiwastudioweb.blogspot.com/