Cost and Performance Management

Running Head: Cost and Performance Management
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Cost and Performance Management

Cost and performance management 1
Executive summary
Budgeting is the primary source of the organisation to understand where they are at
present and where they want to reach in future. The term budgeting is used in every sector
and this report will focus on the hospitality and the tourism sector. The term budgeting is one
of the most crucial terms in the history of the finance. The hospitality and the tourism
industry are also driven by the certain factors due to which the implementation of the
budgeting is necessary; hence an overall analysis of the Elephant Hotel is undertaken with
regards to the cost control mechanism, performance analysis and recommendations on how to
improve the position of the Elephant Hotel.

Cost and performance management 2
Table of Contents
Executive summary..................................................................................................... 1
Introduction............................................................................................................... 3
Part 1....................................................................................................................... 3
Cost control............................................................................................................... 3
Part 2....................................................................................................................... 4
Performance Analysis.................................................................................................. 4
Part 3....................................................................................................................... 5
Cost and Revenue Analysis............................................................................................ 5
Make a plan............................................................................................................... 5
Recommendations and Conclusions.................................................................................6
References................................................................................................................ 7
Appendix.................................................................................................................. 7