COST ESTIMATING, BUDGETING and CASH FLOW Assessment
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You are a project manager with a conference organisation company who wants to run an international conference on project management in Perth. The project objectives are to provide the international community with project management knowledge and for your organisation to make a minimum 20 % profit.
The project sponsor for this project is Gordon Young the Director of Conferences. In your first meeting with Gordon he discussed the scope of the project and asked you to submit a business case in a report format which provides an estimate, budget and cash flow and any conclusion/recommendations for the proposed conference.
The following outline scope statement was provided:
- 3-day International conference in Perth to be held in November 2023
- three high-profile international keynote speakers - one per day
- the rest of the programme to be filled with speakers from industry and academia presenting papers on Project Management
- conference delegate accommodation and transport will be at their own cost
- a conference dinner (with entertainment) to be organised on the evening of the second day
- expected attendance of 200 – 350 delegates
Your submission must contain the following sections:
- executive summary including any conclusions and recommendations
- a detailed list of the contents of the estimate and the respective costs. All sources of cost information must be provided through embedded screen shots. No intense research is required in arriving at the dollar amounts – sources must not be contacted directly ie no phone calls enquiring about costs etc. Reasonable costs through web page information will suffice and should be easy to obtain given that this is not a unique project. A clear and full explanation of the scope of each item (ie quantity, type, etc) must be provided (including any necessary calculations required to arrive at the cost) and a cost per delegate.
- a detailed budget from the 01 March 2023 until final project completion, showing the estimated costs allocated across each of the months in the project life The budget must be set out in the form of a spreadsheet
- a detailed cash flow indicating all costs and revenues from 01 March 2023 to the end of the project including working capital requirements based on a market related delegate conference fee.
Presentation (10 marks)
10 Marks will also be awarded for the quality of presentation comprising appropriate layout, neatness of work and appropriate referencing for sources of data.
- Students must submit their assignments electronically (through Blackboard) Please combine your work into one computer file (i.e. embed all spreadsheets, attachments into the document) and make sure it is correctly labelled with the unit title, your surname and assignment number as per the unit outline instructions