question archive Think about the event you are planning to execute and identify the costs associated with executing the event
Think about the event you are planning to execute and identify the costs associated with executing the event
Subject:FinancePrice: Bought3
Think about the event you are planning to execute and identify the costs associated with executing the event. Some costs to consider could include facilities, marketing and promotion, event presentation and awards, security, and legal and insurance fees. Refer back to the Topic 2 Material for additional information about event costs and revisit the "PAPER Test" you completed for the Topic 2 assignment to ensure that you have included all the expenses you can think of related to promotion, audience, partnerships and environment. Complete the "Expense" and "Amount Budgeted" columns and then write a sentence or two that justifies how you arrived at the estimate in the “Justification” column of the “Expenses” tab of the "Event Budget Estimation" spreadsheet to forecast the costs for executing your event.
Next, identify the revenue streams for the event you are executing. Remember that for your event, “revenue” does not necessarily refer to money. Revenue could take the form of providing a service (i.e., a youth sports clinic), raising awareness for a specific cause or charity, collecting goods for a cause, charity (i.e., canned food, donations of supplies), or it could actually involve raising funds to help a particular group or organization. Some monetary revenue streams to consider could include registration fees, ticket sales, concessions, and sponsorship. Refer back to the Topic 2 Material for additional information about revenue streams. Revisit the “Revenue” section of the "PAPER" Test you completed for the Topic 2 assignment to ensure that you have included all the revenue streams you can think of for your event. Complete the "Description" and "Amount Forecasted" columns and then write a sentence or two that justifies how you arrived at the estimate in the “Justification” column of the of the "Revenue-Monetary” and "Revenue-Non-monetary" tabs of the “Event Budget Estimation" spreadsheet to forecast the potential revenues that could result from executing your event. Your instructor will provide you with feedback about your budget estimations after you have submitted the assignment.
