Professional Documents
Culture Documents
Task summary
In this assessment task, you are required to assist in the finalization and payment of external parties
involved in the conference. You are then required to assist in the writing of a project financial
management report.
Required
Submit to GOALS
• Email with verdict on whether funds should be transferred
• Draft Conference Finances Report (Appendix F)
• Email with Draft Conference Finances Report attached
Assessment criteria
For your performance to be deemed satisfactory in this assessment task, you must
satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily
completed, you will be asked to complete further assessment to demonstrate competence.
If any parts of the task are not satisfactorily completed, the assessor will explain why, and
provide you written feedback along with guidance on what you must undertake to demonstrate
satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.
You have the right to appeal the outcome of assessment decisions if you feel that you have
been dealt with unfairly, or have other appropriate grounds for an appeal.
You are encouraged to consult with the assessor prior to attempting this task if you do not
understand any part of this task or if you have any learning issues or needs that may hinder
you when attempting any part of the assessment.
It is now two weeks since the Leadership Conference 2019: Leading in the twenty first century. It
was a great success. All of the tickets were sold, many new contacts were made, and the Project
Manager gave a reasonable talk on Managing Virtual Teams.
You have received the following email from the Accounts Officer:
One of the project follow-up tasks is to review and confirm the assets and liabilities of the project to
ensure that it has run to budget. In the case of the congress, this involves reviewing the costs
incurred. The venue and catering costs were as budgeted, and the last task is to review the
speakers’ invoices.
The Accounts Department has received invoices from each of the speakers at the recent
conference. They are summarized in Speakers’ Invoices. Before I authorize the transfer the funds,
however, please take a look at them to see that they are correct and get back to me with your
confirmation or questions within 24 hours, so I can authorize the payments.
We are to submit a conference finance report for Senior Management within the next two weeks. I
would appreciate it if you could insert these figures into the table in the Conference Report Template
and write a first draft of the report. Send it to me when you are done, and I will edit it before sending
it on.
Yours sincerely,
Project Manager
Assume that the conference is now completed, and you have been provided with the final
costs. Review the information provided to calculate and report on the success of the
conference assuming that a 50% profit was required.
Assume also that Senior Management has identified that, while the conference had a very
positive outcome, they would like further recommendations on best practice project cost
estimating. Do some research on the internet into similar projects and their cost estimating
practices. Provide at least four recommendations which you consider would improve project
estimating for future projects.
Attach your draft conference finances report to the email (Appendix F).