What budgets do you need to prepare to help you achieve these goals? (List 3 budgets) Q3: What are four external and internal factors that might affect the event and therefore your budgets?

You’ve been appointed the project manager for organising and running a charity ball. The ball will be held in the local town hall, a beautiful historic building in the centre of the shopping and business district. The not-for-profit (NFP) organisation running the ball want a black tie, gala event with a three- or four-course meal, music, dancing and entertainment. They plan to hold a charity auction throughout the evening to raise more money for their cause. The ball will be held on the last Saturday in October and they hope to sell 500 tickets. You are responsible for organising the provision of all food and beverages, a MC, entertainment and music. The charity will source all items for the auction. The charity organisation has two main goals: to hold a successful event and make a reasonable profit from the ball and the auction. They hope to make this an annual event as money raised can significantly boost their ability to provide aid to others. As part of the planning process, you must prepare a number of budgets to help achieve these goals. The first stage of your planning process is to calculate expenses to determine the final selling price for the ball tickets. An initial estimated figure of $150 to $200 has been discussed. You must confirm if this is an appropriate price and determine anticipated profits for the organisation. You will report your initial budgets to an event sub-committee of representatives from the NFP organisation. Task 1: Source information question and answer • Answer all questions. Q1: What are two of the charity organisation’s goals and objectives for this event? Q2: What budgets do you need to prepare to help you achieve these goals? (List 3 budgets) Q3: What are four external and internal factors that might affect the event and therefore your budgets?