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Topic 6: Financial Planning

Content Time Required: 8 hours

Course Description: The primary purpose of the Financial Planning curriculum is to ensure participants have a working knowledge of event budgeting. The instructor will ensure participants understand the financial considerations of event planning. Participants will understand cost centers, profit margins and their application. Participants will also explore challenging budget situations and creative ways to achieve event goals.

Learning objectives:

1. Understand budgeting methods.

2. Explore income avenues, profit margins and cost centers.

3. Apply the knowledge to your business environment.

Learning Tools: Lecture, case study or evaluation, and open discussion.

Take Home Materials: Hard copy or electronic copy of learning objectives and any relevant textbooks, manuals, articles, or journals.

Instructor’s tools or expectations: Instructor is encouraged to incorporate examples, case studies, multi-media tools, and/or publications to demonstrate learning objectives, provide handouts, and require group discussion. A maximum of 25 students will be allowed in each class in to facilitate open discussion and questions. Questions should be acceptable at any point throughout the course.

Evaluation tool: The course and the instructor will be evaluated by the students using a standard questionnaire. The instructor will also evaluate the class and provide feedback to planners regarding successes, failures, or changes needed to better accommodate the students or program. The course and instructor will also be evaluated by the planners or class monitors assigned to assist with the class. The instructor may also incorporate tools that assist the students in evaluating their success in accomplishing the learning objectives. Also, in the wrap up at the end of the program, students will be encouraged to openly evaluate each session with comments and/or suggestions for future changes and/or corrections.

Course Offerings:

1. Understanding The Costs of Hotels

2. Budgeting Process

If you are interested in hosting classes privately please contact Stacy L. Harvey, CMP, CMM at stacylharvey@vt.edu