HB 337 1st Edition Lecture 7 Information Plan 1 Reviewing organizational Needs 2 Evaluating Current Systems 3 Defining Budget Requirements 4 Developing a RFP 5 System Evaluation and Selection Step 1 Reviewing Organizational needs What is the mission or purpose of an organization What is the organizational goals or objectives What is the organizational structure Step 2 Evaluating the Current System Identify Problematic Areas Formulate Objectives Step 3 Defining Budget Requirements Capital Resources A quantitative evaluation Payback Investment Annual Savings Step 4 System Evaluation Software Evaluation Does it satisfy system requirements Does it have the ability to interface with existing systems as well as future systems planned for installation Is it easy to operate Evaluation of customer support and vender reputation Evaluation of training and installation When will training take place What will be covered in the training program Hardware Evaluation Software or Hardware Type of computer hardware configuration Revenue Management A computer aided program determines whether the pricing and room allocation should be increased decreased or closed based upon an analysis of demand and competitive pricing conditions Functions 1 Pattern Recognition 2 Analyze Variables 3 Heuristics 4 Recommended Actions RM Rules can be established for 1 Overbooking 2 Discount Control 3 Length of Stay Control 4 Group Evaluation 5 Optimization 6 Lead Times 7 Packages