Event proposal and budget management system
The project manager combines the event proposal, budget and customer changes. See which additional works are paid by the client and which costs are borne by the organizer.
Copying the previous sale price but not checking the actual volume of work, additional rent and the reasons for previous deviations. The new project repeats already known cost and preparation errors.
How the solution works
- Describe the client's goal and bid limits
- Check prices and facts of previous projects
- Capture the accepted commercial version
- Evaluate and transmit volume change
- Meet the actual costs and settlement
Key challenges
- Lessons from previous projects not used for new proposal
- Customer need and previous events are not in one profile
- Project margin seen late
- The event proposal and budget are hand-made from many suppliers
- The impact of the changes on the program, budget and suppliers is untraceable
Solution capabilities
Need and Lessons
The previous project is used with actual costs and the reason for the deviation. Old prices and participant data are not copied as self-relevant.
Estimated version
The quantity of service, the validity of the supplier's price, the method of own labour costs and the parts not included are seen together.
Commercial solution
The customer's representative confirms the specific works and price. The supplier's reservation is recorded according to the supplier's own response.
Impact of a change
The number, program or location of participants is associated with the work, term and cost affected. The agreed correction is passed on to resources and execution plans.
Actual result
Accounts, credits, significant working time and additional work are checked against the estimate. An account that has been taken but not yet received is not shown as zero cost.
Business context
- Lessons from previous projects not used for new proposal
- Copying the previous sale price but not checking the actual volume of work, additional rent and the reasons for previous deviations. The new project repeats already known cost and preparation errors.
- Customer need and previous events are not in one profile
- Queries, offers, contracts, decision history, participant data and feedback remain in different files. The client repeats the information, and the project manager has difficulty adapting the agreements and experience of previous events for a new order.
- Project margin seen late
- Budget versions, supplier prices, employee time, inventory utilization and additional work are not constantly checked. A lossy project is only noticeable after the event, and some of the additional costs remain untaxed.
- The event proposal and budget are hand-made from many suppliers
- Prices and availability of spaces, machinery, catering, personnel, performers, transport and other suppliers are collected by email and tables. Proposals are prepared slowly, prices quickly become obsolete, and margins and risks are calculated unevenly.
- The impact of the changes on the program, budget and suppliers is untraceable
- The change of number of participants, space, program, equipment, or client requirement is hand handed over to all teams involved. Unconfirmed costs, technical conflicts, delays, and disputes about the final scope occur.
- The developer can compare the variants and changes of the proposal
- It is important for the event client to understand what is included and how wishes change the overall budget. The saved estimates and approvals allow for discussion of alternatives. The organizer can justify additional services and their price, while maintaining the visible profitability of the project.
Core features
- Need and Lessons
- Estimated version
- Commercial solution
- Impact of a change
- Actual result
Key integrations
- Resource and Enforcement Systems
- Reservation reference, relevant volume and actual additional work.
- Accounting and Customer Relationship Source
- Accounts, credits, authorized client and commercial decision history.
Potential impact (%)
The ranges indicate an illustrative relative change in the metric under the stated assumptions. Results depend on the starting position and actual use of the solution. Percentages for different metrics must not be added together.
Cost forecast deviation
3–16%Decreasing
This illustrative scenario assumes that 15-40% of forecast error is attributable to the data and model used. That share is assumed to fall by 20-40%. Company data is needed to verify both the addressable share and the resulting change.
To measure the absolute cost difference in euro by the comparable scope of the project and the reason for the deviation.
An agreed payment has been missed
5–25%Decreasing
This illustrative scenario assumes that 20-50% of missed actions can be identified through task and deadline tracking. That share is assumed to fall by 25-50%. Company data is needed to verify both the addressable share and the resulting change.
Sum up contract and accepted replacement paid jobs not written down due to an administrative gap.
Share of winning event offerings that retained the default margin
4–19%Increasing
The sample starting part is 35%. Assumption: 10-25% of the remaining cases relate to the uncertain scope of the event and the cost of the changes; a solution would help resolve 20-40% of these cases.
The winning and margined events are divided by all comparable bids submitted. The margin limit is agreed in advance; additional works are included under the customer's approval.
Conditional calculation scenarios. The assumptions have not been validated against client measurements.
When this solution is relevant
- Changes to the event approved by the client create additional works that do not fall within the estimate in time.
- Proposal, supplier orders and project budget data need to be manually checked.
Implementation requirements
Rules for assigning suppliers, internal work and other significant costs are agreed on the event budget. Changes approved by the client must reach settlement so that the actual margin is comparable to the assumptions of the offer.
Further development options
- Comparison of project types and pricing review based on data from reliably closed projects.