Brief
Golden Wattle Leisure pty is a dynamic leisure group that is constantly seeking to move its business forward. Currently, their operations consist of six racecourses which stage 20% of all racing fixtures held each year, making them one of the Victorian’s largest operators of horseracing. The Golden Wattle race portfolio includes one of the oldest classic races in Australia, the Regent Louis Stakes, as well as other high-profile race meetings throughout the year.
All of Golden Wattle’s racecourses provide conferencing and banqueting facilities, ensuring their venues are capable of operating 365 days a year. Their leisure offering is enhanced through the inclusion of 18-hole golf courses at two of their racecourses, one of which also provides a leisure club, and an integrated, branded hotel at a third racecourse.
Proposals
Golden Wattle are proposing to make substantial improvements to their flagship racecourse at Hamilton, which hosts the Regent Louis Stakes every year. The redevelopment of Hamilton is to include:
Phase I
demolition of the existing grandstand
the construction of a new 5-storey grandstand to include an extensive conference and
exhibition center (10,000m2 total) and associated external works (budget $50M)
refurbishment of two existing stands circa 100 years old (budget $10M)
N.B. to enable redevelopment, during Phase I, the 2023 Regent Louis Stakes meeting
and others have be relocated to other courses. However, the 2025 Regent Louis Stakes, scheduled for mid- August, must return to Hamilton
Phase II
• Construction of a new 120-bed hotel facility and casino (budget $125M) to be operational for the 2025 Regent Louis Stakes meeting in mid-August
At this stage, Golden Wattle do not wish to constrain by identifying specific procurement solutions and fixed budgets. However, they need informing of options available and guiding toward an optimum solution in terms of performance for their business. Value for Money (VfM) will be attractive to Golden Wattle and should be demonstrated wherever possible.
Golden Wattle are constantly investing in their venues and expect to expand the group and develop several of their facilities substantially over the coming years.
Task:
Develop an effective performance measurement and design appropriate KPIs for the project during design and construction for both phases of the project.
Golden Wattle Leisure Pty is embarking on a significant endeavor to revamp their flagship racecourse at Hamilton, home to the prestigious Regent Louis Stakes, one of Australia’s oldest classic horse races. This redevelopment project consists of two phases: Phase I involves the demolition of the existing grandstand, the construction of a new 5-story grandstand with a conference and exhibition center, and the refurbishment of two old stands. Phase II includes building a 120-bed hotel and a casino, aimed to be operational for the 2025 Regent Louis Stakes meeting. Effective performance measurement and well-defined Key Performance Indicators (KPIs) are crucial to ensure the successful execution of these phases.
To ensure the successful execution of the Hamilton racecourse redevelopment, a robust performance measurement framework needs to be established. This framework should encompass multiple aspects of the project, including cost management, timeline adherence, quality control, and stakeholder satisfaction.
Budget Adherence: This KPI will track the project’s adherence to budget estimates for both Phase I and Phase II. Any significant deviations must be promptly addressed to prevent cost overruns.
Cost Efficiency: Measure the cost efficiency by comparing the actual expenses to the value delivered. This can be calculated by dividing the project’s value by its total cost.
Project Timeline Adherence: Track the project’s progress in comparison to the established timeline. Delays can be costly, especially for events like the Regent Louis Stakes, so minimizing them is critical.
Milestone Completion: Break the project into key milestones and measure the timely completion of each. Delays in one milestone can impact subsequent phases.
Quality Assurance Inspections: Establish a routine inspection schedule to ensure construction quality meets or exceeds industry standards. KPIs can include the number of inspections conducted and the percentage of successfully passed inspections.
Defect Resolution Time: Measure the time taken to address and rectify any construction defects or issues. A shorter resolution time signifies efficient quality control.
Stakeholder Surveys: Collect feedback from project stakeholders, including the racing community, local residents, and government authorities, to gauge their satisfaction with the project’s progress and its impact on the community.
Public Relations Impact: Monitor media coverage and public sentiment regarding the redevelopment to ensure that Golden Wattle Leisure maintains a positive image throughout the project.
Golden Wattle Leisure’s ambitious redevelopment project for the Hamilton racecourse is a multi-phase endeavor that demands rigorous performance measurement and KPIs to ensure its successful completion. The chosen KPIs should align with key project objectives such as cost control, timeline adherence, quality assurance, and stakeholder satisfaction. By effectively measuring performance in these areas, Golden Wattle can maximize value for money and achieve their goal of enhancing their flagship racecourse while continuing to evolve and expand their leisure group. This approach will contribute to the overall success and sustainability of the project and the organization as a whole.
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