Project Cost Management

PROJECT COST MANAGEMENT
Project Cost Management
Name of the Student:
Name of the University:
Author’s Note:

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Table of Contents
1.0 Executive Summary:............................................................................................................2
1.1 Cost Estimates:.................................................................................................................2
1.2 Headline:..........................................................................................................................2
1.3 Sponsorship:.....................................................................................................................3
1.4 Attendance Fees:..............................................................................................................3
1.5 Honorariums and remunerations:.....................................................................................4
1.6 Profit summary:................................................................................................................4
1.7 Conclusion and recommendation:....................................................................................6
2.0 Cost Estimates:.....................................................................................................................7
3.0 Detailed Budget Analysis:..................................................................................................11
3.1 Key points to save costs and increase profit:.................................................................11
4.0 Cash Flow Analysis:..........................................................................................................14
4.1 Graphical Presentation of net Cash Flow over the period:............................................15
5.0 Conclusion and Recommendations:...................................................................................15
Appendix A:.............................................................................................................................16

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1.0 Executive Summary:
Project cost management is an emerging tool in cost and management accounting
which is gaining importance in modern business world. An international seminar will be held
in Singapore over three consecutive days starting from the 1st day of March, and ending on
the 3rd day of March, 2020. Three key note speakers will be sharing their valuable knowledge
on the topic project cost management over the three days. This report analyses all the
expenditures and incomes related to organising such a seminar.
1.1 Cost Estimates:
For analysing the feasibility of the project, a detail cost budget and estimates is
presented to you as follows. All the costs are as of April 2019. All the costs are shown in
Australian dollars and exchange rates as of 07/04/2019 have been used for converting any
price to the Australian dollar. Screenshots have been added for the sources of costs and
exchange rates.
1.2 Headline:
As established a minimum of 10% profit is estimate, to make it attractive and achieve
the minimum profit target, following keynote speakers have been selected.
1.2.1 Day 1: Luca di MonteZemolo:
He is the former chairman of Ferrari (1991-2014) and a non executive chairman of the
board of directors of Alitalia. He is having a huge professional and management experience
as he have served various organisations with his professional expertise in management. In the
first day of the event he will be addressing about the basics of project cost management and
the importance of it.

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1.2.2 Day 2: Marijn Dekkers:
He is the chairman of Unilever appointed in 2016, previously working with various
other successful organisations in the managerial posts. He will be briefing about the
importance and successful practices about the project cost management which will help an
entrepreneur or a manager to take certain key managerial decisions.
At the end of the session, a grand dinner will be arranged for all the delegate
members, speakers and other participants.
1.2.3 Day 3: Sayeeda Waris:
She is the Britain’s First Muslim Government Minister. She is having a very good
leadership quality. She has served various other business organisations with her sharp and
intellectual leadership. She will be addressing about the implementation and political and
other regulatory factors about execution of any project.
1.2.4 Other Delegate Speakers and scholars:
Many other delegate speakers and scholars will be present there and they will be
presenting their thoughts and research outcomes on the topic project cost and management.
1.3 Sponsorship:
It is estimated that 10% of the total cost can be raised from sponsorships. Profit
considering the sponsorship revenue and without the sponsorship revenue have been
presented in the cost estimate and budget section.
1.4 Attendance Fees:
The fees for joining the conference have been set at $550 for three days. The fees
include a small refreshment food and a lunch per day. Any other lodging and food

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expenditures will be borne by the participants themselves. Their travelling expenses are also
excluded from the participation fees, and all those things need to be arranged by them own.
1.5 Honorariums and remunerations:
Honorariums will be paid to the keynote speakers estimated to be $12,000 each
including some mementos and gifts. For other delegate speakers, budgeted expenses for their
remunerations would be $15,000 and also some other gifts and mementos will be provided to
the research scholars who will be presenting their papers in the seminar.
1.6 Profit summary:
From the estimated costs and an expected attendance of 250 participants following
revenue and expenses summary can be presented. A detail of estimated cost is added in the
next section. Considering the attendance fees for delegates as $550 per head following profit
summary can be presented.
1.6.1 Summary of revenue and expenditure with the Sponsorship and 250 attendances:

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1.6.2 Summary of revenue and expenditure without the Sponsorship and 250
attendances:
1.6.1 Summary of revenue and expenditure with the Sponsorship and 200 attendances: