Budget review project

The Principal Consultant has asked you to review the conference costs, as the conference will not be repeated if it continues to lose money. Revisions need to be made to the conference budget and the conference fee increased to make it profitable. The review will be submitted to the company’s management as a bid to host the conference again.

To ensure that the revised concert budget is accepted with confidence by management, you are required to state the source of the figures that you use. This will make it easier for them to be checked and verified.

The Principal Consultant would like you to propose a cost-covering conference fee given a 10% increase in all the recorded costs for the conference as shown in the profit and loss statement (and that match the conference costs for the document you reviewed in Assessment Task 2) and assuming 70 people will attend the 2020 conference. The Principal Consultant would like a 20% return on the conference costs.

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