Which type of budget would you use for this conference and explain how is it Sce

Question

Which type of budget would you use for this conference and explain how is it

Scenario: The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 as the international marketing arm for Hong Kong-based manufacturers, traders and service providers. The HKTDC promotes Hong Kong as a platform for doing business with China and Asia. Same as previously, HKTDC is going to hold a 3-day annual conference for about 300 delegates from Asia trading industries in November 2017. The aim of this conference is to discuss how Hong Kong retailers would improve their competitiveness. The Chairman of HKTDC has not yet confirmed all the details. You as a professional meeting manager are consulted to provide advices in holding this event.

Explanation / Answer

As a professional meeting manager I should understand the requirement first. From the caselet given it is mentioned clearly that 300 delegates will be coming and it is a 3 day function. Thus with the number of resources and with the number of days allocated for the program a static budget can be presented which comprises of budget requirement for facilating the function ( accomodation, food, auditorium and miscelleanous).

Static budget

1: Accomodation budget : for approx 300 delegates

2: Food budget

3: Conference hall rent

4: Overhead expense budget ( Domestic travelling,stage arrangements etc.)

4:

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