How to create a plan for Revenue Management Projects


If you want to fly a 747 you can’t start there. You start with smaller planes and work up to the Jumbo Jet.

If you're building a house, you don't start by installing doors and windows.  First you need to build a foundation and then walls and probably a roof.  And then paint. 

There are many different analogies, but I think you get the point:  You need a plan and some things should be done before others.  And you cannot do everything at once!  

However, when it comes to digital marketing, revenue, and technology, there is often no plan and little awareness of what should be first, second, or nineteenth. 

Once you believe in the value of certain digital opportunities, take the time to think about how much time and attention can be given by you and your staff and how much disruption will occur for guests.  Solution providers will want to move as fast as possible and will often paint an optimistic picture of implementation, so make sure to have an independent expert involved, even if it is just at a high level.

In many ways, the virtual world operates like the physical world.  There are constraints on time and functionality and Project D (for example) may not be possible until Project A is complete.  That's why you need a vision and a plan.  Even if it's a simple list of priorities, it can save lots of time and money compared to having no plan at all.

On the other hand, some properties wait for every single detail to be crystal clear - and they never get started.  So the best solution is somewhere in the middle and you should at least have a list items and think about inter-dependencies of these projects.  Every technology project has constraints of:

  • Time
  • Money
  • Scope (or requirements)

If the scope increases, then the time and money will probably have to increase.  If time is reduced, then money has to be increased, or scope has to be decreased.  Some projects can be done in parallel and sometimes a shortcut is discovered, but you cannot count on those or plan for them to happen.  Look for shortcuts and money savers as you go down the implementation path, but treat them as a bonus.  

Watch this short video to get a better idea of how to sequence your projects to get the best results.



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