STUDY OF FAILED PROJECT ---- THE MILLENNIUM DOME
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STUDY OF FAILED PROJECT ---- THE MILLENNIUM DOME
- 1. Study of Failed Project Naila Ghani Khunsa Iqbal Zahra Badar Wajiha Farooq Narmeen Haroon MS – TOTAL QUALITY M ANAGEMENT INSTITUTE OF QUALITY AND TECHNOLOGY MANAGEMENT UNIVERSITY OF THE PUNJAB, LAHORE, PAKISTAN.
- 3. The Millennium Dome, colloquially referred to simply as The Dome.
- 4. Origination: • the project concept was expanded and championed by Labour party Prime Minister Tony Blair when he took office in 1997. • The event was designed to draw tourists into London during the Millennium year and was intended to be a celebration of mankind’s achievements.
- 5. "a triumph of confidence over cynicism, boldness over blandness, excellence over mediocrity".
- 6. In 1997 the Labor government of Tony Blair formed the New Millennium Experience Company Ltd. (NMEC)
- 7. Finance Management: Government decides to support the project with public money after being unable to raise private capital.
- 8. Total expenditure: • the total cost of The Dome at the liquidation of the New Millennium Experience Company in 2002 was £789 million, • of which £628 million was covered by National Lottery grants • and £189 million through sales of tickets etc.
- 10. initial reaction from the press was poor. Lack of content, lack of clear themes and lack of creativity were common criticisms.
- 11. • For budgeting purposes government officials had projected 12M visitors. In reality only 6 1/2M people attended.
- 12. • The NMEC is a company which has been under considerable pressure. Any company which had just completed a massive capital project and had then opened a huge and novel visitor attraction would be.
- 13. LONDON ARENA
- 14. the venue's new owners, spent 600 million pounds ($1.2 billion) to renovate the site, adding a 20,000-seat concert arena
- 15. Contributing factors as reported in the press: • Lack of vision. • Poor execution • Failure to manage expectations • Failure to plan properly for the post event disposition of the venue.
- 16. Causes of difficulties: The main cause of the financial difficulties is the failure to achieve the visitor numbers and the income required. Right from the start the idea was driven by politicians, not the commercial or business sector. Its designers created an impressive pack and only when this was launched they started asking the market how they want it.
- 17. a table linking these factors with the factors studied in class. no Factors contributed towards failure Falls in category of phase 1 Less creativity conception 2 Poor prioritization planning 3 Over expectations definition 4 Wrong forecasting definition 5 Changing responsibilities planning 6 Poor marketing strategies execution 7 Over use of resources execution
- 19. Definition phase is the most important phase. You are doing project to attract customers so find out their requirements before starting the project and not after.
- 20. it was all………. Thanks for your attention……..!
Notas del editor
- Located on theGreenwich Peninsula in South East London, England….it was completed in 1999
- The Millennium Dome, colloquially referred to simply as The Dome, is the original name of a large dome-shaped building, originally used to house the Millennium Experience, a major exhibition celebrating the beginning of the third millennium
- The incoming Labour government elected in 1997 under Tony Blair greatly expanded the size, scope and funding of the project.[citation needed] It also significantly increased expectations of what would be delivered. Just before its opening Blair claimed the Dome would be "a triumph of confidence over cynicism, boldness over blandness, excellence over mediocrity".[9] In the words of BBC correspondent Robert Orchard, "the Dome was to be highlighted as a glittering New Labour achievement in the next election manifesto".
- A national exhibition for the millennium was first proposed in 1994. The idea was dropped when it met with resistance, but it was revived two years later. In 1997 the Labour government of Tony Blair formed the New Millennium Experience Company Ltd. (NMEC), which assumed responsibility for the creation of the dome, the main exhibition, and a series of lesser projects throughout the United Kingdom. Work on the dome began that year.
- According to the UK National Audit Office,[15] the total cost of The Dome at the liquidation of the New Millennium Experience Company in 2002 was £789 million, of which £628 million was covered by National Lottery grants and £189 million through sales of tickets etc. A surplus of £25 million over costs meant that the full lottery grant was not required. However, the £603 million of lottery money was still £204 million in excess of the original estimate of £399 million required, due to the shortfall in visitor numbers.[16]
- On December 31, 1999, a New Year’s Eve celebration at the dome was attended by some 10,500 people, including the prime minister and queen. Opening the next day, the Millennium Dome exhibition lasted until December 31, 2000; however, visitor receipts failed to cover expenses, and the dome was closed to the public. The structure was then sold in December 2001, and in 2007 the renovated building, which included a 20,000-seat auditorium, reopened as The O2; it was named after a mobile phone company.
- The project and exhibition was the subject of considerable political controversy as it failed to attract the number of visitors anticipated, with recurring financial problems.
- The Dome was planned to take over the functions performed by the London Arena, after its closure. This is the function which The O2 Arena has now undertaken.
- lackluster content resulting in negative experiences for visitors and the resulting negative PR stemming for those experiences). (prior to the opening the Prime Minister claimed the event would be “a triumph of confidence over cynicism, boldness over blandness, excellence over mediocrity”.
- That’s all. Thank you very much.