Establishing a Performance Measurement Baseline
• Imagine that you are managing a project that involves the development of a new hotel in Washington, DC, near all of the major tourist attractions. The hotel will have 250 rooms, which will generate room revenues of between $250-300 per night per room. You are required to submit a budget proposal for this project. Determine the top-two (2) important elements of your budget proposal, and specify the main reasons why the elements you have determined are important.
• Using the same scenario from Part I of this discussion, determine the best way to establish a performance measurement baseline for your hotel project