(Protected View) - Word View Help Dha Tell me what you want to do You are screen sharing Stop Share Unless you need to edit. it's safer to stay in Protected View. Enable Editing MAN 400 - Introduction to Project Management. GROUP ASSIGNMENT - II Winter 2023 Project Budget Costing the Oscars ENG arch insert delete end prt sc home F10 F11 F12 F8 F9 DII F6 F7 FA F5Group Assignment 2 W23 Project Budget Main Version A (1) (Protected View) - Word es Mailings Review Help Tell me what you want to do You are screen sharing Stop Share a virises. Unless you need to edit, it's safer to stay in Protected View. Enable Editing "All the Worlds a Stage" "I work all night, I work all day to pay the bills I have to pay ABBA The Academy Awards offer a chance for Hollywood to show off its glitz, glam and gold. From courting voters to hiring red carpet, the Academy Awards are big business. To even get to the Oscars, it costs a lot: Hollywood spends $100 million on awards-season lobbying each year. Although the pandemic hit Hollywood hard, with revenue down nearly 60% compared to pre-COVID pandemic levels, according to WalletHub, people can still look forward to certain things to stay the same: the red carpet, the awards and of course, the films. To attend the Oscar party can cost around $80,000 per couple, and A-list actors can expect to pay an average of $10 million on their outfits: although this number varies from $1.5 million for the average attendee's ensemble to $266,000 for a first timer. For Los Angeles, the Oscars are an economic boon: $130 million is the annual revenue the city gets from the awards ceremony. ABC gets $120 million in ad revenue from the awards show and $21 million is generated from the Red-Carpet show. It's not just the city or television network that benefits from the awards: the best actor/actress winner can expect a 60% boost in pay. Seneca college has been invited to prepare an initial budget for the Oscar Grand Gala and your Group has been designated to undertake this. You can refer to the links given here for preparing the WBS and you can also refer to other documents in the public domain. https://www.theguardian.com/film/2017/feb/25/oscars-2017-how much does hollywood-biggest.party.cost.earn https://www.newsnationnow.com/entertainment news/how much is the oscars-costing this-year/ https://fox4kc.comews/how much is-the oscars-costing-this-year/ ENG US Q Search insert prt sc home end F11 F12 F9 F10 Dil F7 FB F3 F4 FS F6Group Assignment 2 W23 Project Budget Main Version A (1) (Protected View) - Word References Mailings Review View Help Tell me what you want to do You are screen sharing Stop Share n contain viruses. Unless you need to editit's safer to stay in Protected View Enable Editing Assignment Notes Your team put together the Work Breakdown Structure (WBS) for this project and get the same approved by the Business Sponsor. This signals the approval of your project's scope. Now it's time to determine how much it will cost to deliver this project's scope. In other words, we are building the project's budget. 1. Your first step is to create the structure of your budget. Please use Microsoft Excel and the WBS provided in the Table 1 below 2. Your second step is to estimate the labour and non-labour costs. Estimating labour costs requires you to estimate how long the work will take (durations) and how much you will pay the people performing the work. Use the duration estimates provided in Table 1 below As a group, determine the hourly rates for the human resources required. With respect to the non-labour costs of this project, consider the equipment and materials required to complete the project. Ensure you document your assumptions clearly. This includes a description of what the cost represents and how you determine the dollar amounts. 3. Your third step is to create the total budget This requires you to sum up the costs of each major deliverable. Create subtotals at the major deliverable level. Create subtotals for the labour and non-labour costs as well. Use formulas whenever possible so you fully harness the power of Microsoft Excel. Establish a reasonable contingency for this project. You are free to make any assumptions you like; simply ensure they are well documented. 4. Your final step is to create the time-phased budget. As discussed in class, the objective of the time-phased budget is to determine the cash flow needs of the project To create a time-phased budget, you need to consider when the work will be done. Refer to Table 1 below for guidance. With respect to contingencies, it is acceptable to include them at the beginning of the project, end of the project or spread them out over the project's duration. As a team, decide which approach you feel is most appropriate. Lastly, ensure your time-phased budget has the same total cost as your aggregate budget. Q Search home end insert prt sc DIIGroup Assignment 2 W23 Project Budget Main Version A (1) (Protected View) - Word ences Mailings Review View Help Tell me what you want to do You are screen sharing Stop Share itain viruses, Unless you need to edit. it's safer to stay in Protected View. Enable Editing Deliverables for this Assignment: As part of this Assignment, you will submit four deliverables: 1. Developed WBS 2. Assumptions Document - The documents should clearly list out the assumptions you have made for: a. Total Budget b. Time Phased Budget C. Level of Contingency considered. 3. Total Budget: This is aggregated costs of components/sub-components. Your total budget is the aggregate of all your WBS categories. Time-phased budget: Create your time-phased budget on a monthly, quarterly, or half years basis Additional Assignment Notes: 1. Please submit your Microsoft Excel file (not a PDF version) as I will be reviewing the calculations made. One member of your team will submit your completed assignment on blackboard. 2. You must use MS Teams as your online collaboration tool. 3. Confidential Peer Evaluations are also required. Please note to submit the Peer Evaluation. TABLE 1 Costing the Oscars WBS # Deliverable /Work Package Duration (Days) 1 The Campaign 1.1 PR Consulting 15 1.2 Advertising 12 1.3 TV Commercials 21 Talent Costs 11 1.5 Film Screenings 3 1.6 Digital Screenings 1 2 The Show 2.1 Producers Briefing 14 2.2 Hosts Briefing 12 2.3 Dolby Theatre Booking 2.4 Oscar statuettes 2.5 Security Q Search prt sc home end insert DIu need to edit it's safer to stay in Protected View. Enable Editing Please submit your Microsoft Excel file (not a PDF version) as I will be reviewing the calculations made. One member of your team will submit your completed assignment on blackboard. You must use MS Teams as your online collaboration tool. Confidential Peer Evaluations are also required. Please note to submit the Peer Evaluation. TABLE 1 Costing the Oscars WBS # Deliverable /Work Package Duration (Days) 1 The Campaign 1.1 PR Consulting 5 1.2 Advertising 12 1.3 TV Commercials 21 1.4 Talent Costs 11 1.5 Film Screenings 3 1.6 Digital Screenings 1 2 The Show 2.1 Producers Briefing 14 2.2 Hosts Briefing 2 2.3 Dolby Theatre Booking 7 2.4 Oscar statuettes 2 2.5 Security 5 2.6 Red Carpet 1 3 Black-Tie Dinner 3.1 Main Course 3.2 N N UT Dessert 3.3 Drinks HRGB Exam Cover Sheet Template Page 6 of 8 Version A W P