A Study on Singapore Grand Prix

SINGAPORE POLYTECHNIC

School of Architecture and the Built Environment

Diploma in Integrated Events and Projects Management

Events and Project Management:
A Study on
Singapore Grand Prix

Sim Pin Yi P0932666
Benjamin Daron Phoon Wei Ji P0962331
Cynthia Teo P0933625

Year of Study: Year 3, 2011/2012

Project Facilitator: Mrs Alvena Sam

Contents
Abstract 5
Acknowledgement 6
Chapter 1- Introduction to Project 7
1.1Brief of Project 7
1.2 Scope of Work 7
1.3 Objectives 9
Chapter 2- Situational Analysis of Singapore Grand Prix (Part One) 10
2.0 Singapore Grand Prix 10
2.1 History of Singapore Grand Prix 10
2.2 Reborn of Singapore Grand Prix 11
2.3 Editions of FORMULA 1 SingTel Singapore Grand Prix 11
2.3.1 Inaugural FORMULA 1 SingTel Singapore Grand Prix 2008 11
2.3.2 FORMULA 1 SingTel Singapore Grand Prix 2009 12
2.3.3 FORMULA 1 SingTel Singapore Grand Prix 2010 12
2.3.4 FORMULA 1 SingTel Singapore Grand Prix 2011 13
2.3.5 FORMULA 1 SingTel Singapore Grand Prix 2012 13
Chapter 3- Situational Analysis of Singapore Grand Prix (Part Two) 15
3.1 SWOT Analysis on Singapore’s hosting and anchoring of Singapore Grand Prix 15
3.1.1 Strengths 16
3.1.2 Weaknesses 18
3.1.3 Opportunities 20
3.1.4 Threats 22
3.2 Impact Analysis of Stakeholders 29
3.2.1 Hotel Industry 29
3.2.2 Entertainment Spots/ Restaurants 30
3.2.4 SMEs 31
3.2.5 General Public 31
Chapter 4 - PEST Analysis on Singapore’s Suitability of Hosting and Anchoring Singapore Grand Prix 34
4.0 Introduction to PEST Analysis 34
4.1 Political 34
4.11 Political Structure and Stability 34
4.1.2 Pro-Business Environment 35
4.1.3 Public Private Partnership 35
4.1.4 Conclusion of Political Factors 36
4.2 Economy 37
4.2.1 Local Economy Outlook 37
4.2.2 Economic Outlook in the Region 37
4.2.3 Conclusion of Economic Factors 38
4.3 Social 39
4.3.1 Cosmopolitan and Meritocracy 39
4.3.2 Lack of Sporting Events/Racing Events 39
4.3.3 Increase in Standard of Living 40
4.4 Technology 41
4.4.1 World Class IT