ASSESSMENT TASK 3

Project Costs Analysis and Variations

Manager Networks
Conference finances information

Budgeted costs for the conference were finalised as:

Expenses
Venue $ 45,000
Catering $ 15,000
Speaker fees $ 10,000
Speakers travel $ 7,300
Publicity $ 15,800
Courier $ 2,000
Printing $ 2,500
TOTAL 97,600

Conference finances information

Expenses Income

Venue $50,000 Registration fees – individuals $100,000

Catering $15,000 Registration fees – companies $100,000

Speaker fees $11,500 Sponsorship: Gold $50,000

Speakers travel $7,300 Sponsorship: Silver $45,000

Publicity $15,800 Sponsorship: Bronze $100,000

Courier $2,000

Printing 2,500

TOTAL 104,100 TOTAL 395,000

Comments:
While looking at the case study data, I made some changes to the costs to consider the new data I received.
According to this information, the first seat is not available, and the second option is $5,000 more, even one of
the speakers is no longer available, and the next best option is 1,500 more expensive than the second. These
additional costs will be reflected in the final profit, but will not exclude us from our ultimate goal - to make a
profit of at least 50% after reaching the coast.

Email Summarising the Project Costs Analysis and Variations

To: Manager
Subject: Conference Finances Information

Dear Marketing Manager,

I have made the project cost analysis and variations as you suggested about our annual conference project. The
file is attached for your consideration. Thank you.

Best regards
Project Change Request and Analysis
Manager Networks
Change Request and Analysis

Project: Manager Networks Date: 08/02/2022

Leadership Conference 2020: Leading in the twentieth century
 Change Requestor: Jessica Lim Change No: 01
Change Category (Check all that apply):
□ Schedule x Cost □ Scope □ Requirements/Deliverables □ Testing/Quality □Resources
Does this Change Affect (Check all that apply)?
□ Corrective Action □ Preventative Action □ Defect Repair X Updates □ Other
Describe the Change Being Requested:
Add a comedian and a singer
Describe the Reason for the Change:
Upgrade in entertainment. Two candidates will add a cost of $4000.
Describe all Alternatives Considered:
No other alternative.
Describe any Technical Changes Required to Implement this Change:
No need to change.
Describe Risks to be Considered for this Change:
Additional cost of $4000
Estimate Resources and Costs Needed to Implement this Change:
Additional $4000
Describe the Implications to Quality:
There is no quality association to the project.
Disposition:
X Approve □ Reject □ Defer
Justification of Approval, Rejection, or Deferral:
The incident has already been resolved, so it must continue. The cost represents the final delivery of the
project.
Change Board Approval:
Name Signature Date
Bryan Lee 08/02/2022

Conference Finances Report

Manager Networks
Conference Finances Report

Introduction
The following expenditure details show the overall financial outcomes from the conference.
An analysis of this is as follows:
Total profit/loss:
Income: $395,000
Expenses: $103,265
Total profit or loss is: $291,735

Evaluation: around 73.86% profit from revenue

Conference expenditure details

Expenses Income
Venue $50,000 Registration fees: individuals $100,000
Catering $20,000 Registration fees: companies $100,000
Speaker fees $10,000 Sponsorship: Gold $50,000
Speakers travel $4,520 Sponsorship: Silver $45,000
Publicity $7,250 Sponsorship: Bronze $100,000
Courier $1,595
Entertainers $6,400
Printing $3,500
TOTAL 103.265 TOTAL $395,000

Recommendations
As requested by Senior Management, recommendations for more accurate project estimating are as follows:
 Draw up an agreement containing the main parts of the conference/event, date, duration and agreed
price, which will be signed for all parts to confirm interest in participation and avoid any subsequent
cancellation or price change.
  Once the previous agreement is signed, buy your plane tickets and book all the accommodations you
need, so you won't be surprised by a date nearby.
 Check with your collaborators for the basic idea of what you need to do so that new ideas don't come
up after the budget is ready.
 Get well-reviewed seats and speakers, so attendees know the conference/event is meeting their
expectations.
Email with Project Change Request and Analysis and Conference Finances Attached
To: Senior management
Subject: Final Project Cost Management Plan

Dear Sir,
I have made the project change request and analysis along with conference finances report as you suggested.
The files are attached for your consideration. Thank you.

Best regards