Economic and Operational Feasibility of an Interactive Cultural Museum in Puerto Plata: A Systemic Approach to Innovation in Cultural Engagement

This study pioneered the conceptualization of an interactive cultural museum in Puerto Plata, leveraging a systemic approach that married cutting-edge market analysis with a comprehensive economic and financial evaluation. The research utilized industrial and systems engineering methodologies to craft a multifaceted proposal that promised both financial sustainability and cultural enrichment. Employing robust market analysis, the study identified untapped consumer segments and crafted strategic entry tactics, informed by a deep understanding of cultural trends and competitive landscapes. The technical study meticulously outlined the operational blueprint, focusing on interactive technology integration and visitor experience enhancement, to ensure the museum's operational feasibility and service excellence. The project's environmental strategy was rooted in sustainable design principles, evaluating the ecological footprint and promoting green initiatives throughout the museum's lifecycle. The organizational and legal framework was meticulously developed to ensure robust governance and adherence to regulatory standards. Central to the study was a granular financial model, featuring detailed cash flow forecasts, sensitivity analyses, and risk assessments. The financial projections affirmed a robust return on investment and a viable break-even analysis, underscoring the museum's potential as a profitable cultural venture.

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Publication Details

Published
2024-10-01
DOI
https://doi.org/10.21872/2024iise_6161
Primary Topic
Cultural Industries and Urban Development
Type
article
Field-Weighted Citation Impact
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article

Economic and Operational Feasibility of an Interactive Cultural Museum in Puerto Plata: A Systemic Approach to Innovation in Cultural Engagement

Diego Fernández, Emilio Hernández⋆, Minerva Tavarez, Levis cab
Cultural Industries and Urban Development
article

Economic and Operational Feasibility of an Interactive Cultural Museum in Puerto Plata: A Systemic Approach to Innovation in Cultural Engagement

Diego Fernández, Emilio Hernández⋆, Minerva Tavarez, Levis cab
article en

Abstract

This study pioneered the conceptualization of an interactive cultural museum in Puerto Plata, leveraging a systemic approach that married cutting-edge market analysis with a comprehensive economic and financial evaluation. The research utilized industrial and systems engineering methodologies to craft a multifaceted proposal that promised both financial sustainability and cultural enrichment. Employing robust market analysis, the study identified untapped consumer segments and crafted strategic entry tactics, informed by a deep understanding of cultural trends and competitive landscapes. The technical study meticulously outlined the operational blueprint, focusing on interactive technology integration and visitor experience enhancement, to ensure the museum's operational feasibility and service excellence. The project's environmental strategy was rooted in sustainable design principles, evaluating the ecological footprint and promoting green initiatives throughout the museum's lifecycle. The organizational and legal framework was meticulously developed to ensure robust governance and adherence to regulatory standards. Central to the study was a granular financial model, featuring detailed cash flow forecasts, sensitivity analyses, and risk assessments. The financial projections affirmed a robust return on investment and a viable break-even analysis, underscoring the museum's potential as a profitable cultural venture.

Openalex Percentile: Top 47%
Cultural Industries and Urban Development
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