Introduction to event
b. Equipment and Material Resources
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EVENT MANAGEMENT
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- 3.5.3 Budget Control
b. Equipment and Material Resources: Equipment include all the specialized
tools needed by the event, from water pumps to electrical generators that will be used by the event or delivered to the beneficiaries, it also includes the need for vehicles and office equipment such as computers and printers. The materials include a wider category of requirements such as utility services such as electricity, telephone lines, access to the internet, office material, office space and used by the event. The material may also include materials that will be used to build temporary facilities or food and exhibits that will be delivered to the beneficiaries. c. Other Cost: These include cost of venue, Marketing, special arrangements for events .These cost shall be dependent on the following: the duration of the event the participant groups the venue or facility the scale of the event in terms of participant numbers 3.5.3 Budget Control Monitoring and controlling the event budget ensures that only the appropriate event changes are included in the budget baseline, that information about authorized changes are communicated and corrective actions are taken by those in charge. The action of budget control is also a process of managing the budget. Controlling the budget is a critical responsibility of the event manager, and it is equally important that the organization defines the roles and responsibilities of all parties involved in budget control. Usually the finance department's responsibility is to record, track and monitor the budget from a cost accounting perspective and generates reports for the organization management and the donor as part of the compliance requirements such as ensuring the correct accounts are properly used and recorded. The finance unit is not responsible for monitoring if the event budget follows the event goals and targets, that is the responsibility of the event manager who needs to use the reports and monitors the budget and determine if the resources are used according to plan and identify any deviations, changes or modifications to the budget Budget Performance. |
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