Australian Budget Monitoring and Preparation

Fiscal Foresight: Integrating Strategy and Financial Insight

Project 3
STUDENT NAME:
BATCH:
TEACHER:

eVersity
Case Study 1: Urban Boutique Hotel Expansion
Background:
Urban Boutique Hotel, a well-established brand known for its unique customer experiences, is embarking on an expansion to open a new property in the heart of
the city. The location is prime real estate, close to cultural hotspots and business centres, offering an attractive proposition for both leisure and corporate guests.
Finance and Marketing Strategy:
• Initial Capital: The hotel secured initial capital through a mix of equity financing from existing stakeholders and a loan from a commercial bank, focusing
on the hotel's strong operating history.
• Budgeting: The budget includes substantial allocations for construction, staffing, marketing, and a contingency fund for unforeseen costs.
• Marketing: The marketing strategy is built around the hotel's proximity to city attractions, targeting both new and existing customers through digital
campaigns, partnerships with travel influencers, and corporate event packages.
Success Indicators:
• Pre-Opening Reservations: A key performance indicator set is the number of reservations made prior to the opening, driven by early bird offers and
special packages.
• ROI Milestones: Return on investment is projected within the first five years, with incremental goals set for each quarter post-launch.
Challenges:
• Regulatory Hurdles: Navigating city zoning laws and obtaining the necessary permits delayed the initial timeline, impacting the budget due to extended
financing costs.
• Construction Delays: Supply chain disruptions led to construction delays, necessitating budget reallocations to maintain the project timeline.

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 Case Study 2: Culinary Ventures
Launch Background:
Culinary Ventures, a new entrant into the restaurant industry, plans to launch a gourmet restaurant chain that emphasizes sustainable and locally-sourced
ingredients. The start-up aims to capitalize on the growing trend of health-conscious dining combined with a luxurious ambiance.
Budgeting Approach:
• Start-up Costs: Forecasts include kitchen equipment, interior decor, hiring of top-tier chefs, initial inventory, and marketing.
• Funding Sources: The venture is funded through a combination of angel investors, a crowdfunding campaign, and a small business loan focusing on its
innovative concept.
• Break-even Analysis: A detailed break-even analysis dictates the pricing strategy and the expected turnover rate necessary to cover fixed and variable
costs.
Marketing Strategy:
• Branding: A strong branding effort focuses on the restaurant's unique selling proposition of gourmet yet healthy dining.
• Community Engagement: Hosting pop-up events and cooking classes to engage the community and build brand awareness before the official launch.
Success Indicators:
• Customer Acquisition Cost: Monitoring the cost of acquiring new customers through different marketing channels to optimize the marketing budget.
• Average Revenue Per Customer: Tracking revenue per customer to ensure menu pricing and customer spending align with financial projections.
Challenges:
• Vendor Reliability: Ensuring the reliability of local vendors to maintain a consistent supply of high-quality ingredients without interruptions.
• Market Penetration: Differentiating the brand in a competitive market, requiring innovative marketing techniques and exceptional customer service to
establish a loyal customer base.

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 ** These case studies provide a context for students working on the Major Project to apply the concepts learned in a real-world setting,
ensuring a deeper understanding of the financial and strategic considerations involved in such business initiatives.

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 COMPREHENSIVE BUDGET WITH STRATEGIC INSIGHTS TEMPLATE
TASK 1:

Section Description Details / Example Data

By following these things like making funds, • Reservation

Revenue Streams advertising, and leasing could increase the • Fund raising
chance of having higher amount of revenue. • Dining services
• Allow customers to have a reservation with
allotted fee • Marketing advertisements
Strategic Initiatives
• Collaborations
• Creating social media platforms
• Direct materials • Staff salaries
• Labor • Utilities
Costs
• Rent • Marketing
• Utilities
Postpone date of selling due to climate change, • Supplier issues
Risk Analysis as well as having emergency or personal • Staff turnover
healthrelated problems. • Accidents
Knowing the prices of the materials that will be
needed in making a delectable menu, would be • Use past data to project next quarter
Forecasting tough task to do. Basically, you are being • Compare the past data to determine the
reasonable in spending the funds for the need changes or growth of the business.
ingredients.
The suggestions of every customer will be highly
• Customer service training upgrades
Feedback Integration appreciated, for the betterment and making our
business the best. • Timeliness

Market Analysis The needed materials for the menu are too pricy, we • Increased competition
will think an alternative way to be able to save • Seasonal fluctuations

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 money while providing our market customer a • Place of the business
highquality service.
This template was provided by eVersity for the purpose of this project. All entries and content are the responsibility of the student.

RISK MANAGEMENT AND DEVIATION RESPONSE PLAN TEMPLATE

TASK 2:

Risk Factor Potential Impact Mitigation Strategy Response Plan

Only offer what is only available in the

This will be a big problem for you and
Supply Chain Disruptions your business, as this makes your
progress slow,
You may tend to have a loan, that will
increase your debt. As well as ended
Market Downturn
up turning your business into
bankruptcy.
• Implement robust quality assurance
Decreased product/service quality,
customer dissatisfaction, rework or
Quality Control Issues
repair costs, project delays, damage to
reputation.
• Conduct comprehensive training for
Find a supplier that would be the most
menu for fhe meantime. To at least
suitable for your business in a long
stabilize the revenue and capital of
run. Those suppliers that are diligent
your business. Then, offer other menu
and efficient in making a stronger
again if there is already available
partnership with their clients.
supply of ingredients.
Focus on the growth of your business
and double your effort, make sure that
you rationally think every decision that
Promotional offers, cost savings
you will risk. I suggest making an
implementations
outreach project, posting online, and
comprehensive planning to reduce the
effects of threats faced by business.
Implement quality assurance
processes throughout the project measures, conduct regular inspections
lifecycle, including regular and testing, train personnel on quality
inspections, testing, and peer
standards, establish protocols for
reviews. addressing and resolving quality
issues promptly.

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 project team members on quality
standards and best practices.

• Use quality management tools and

Incomplete deliverables, missed
deadlines, increased workload on
Resource Constraints
existing resources, compromised
project objectives, decreased morale.
techniques to track and monitor
project deliverables.
• Establish clear escalation
procedures for addressing and
resolving quality issues promptly.
• Conduct thorough resource
planning and allocation to ensure
adequate resources are available Prioritize tasks, optimize resource
to support project activities. Identify allocation, explore alternative resource
• potential resource bottlenecks or options (e.g., outsourcing,
shortages early and explore subcontracting), renegotiate project
alternative resource options (e.g.,
scope or timelines, if necessary,
outsourcing, subcontracting). communicate effectively with
Prioritize tasks based on resource stakeholders about resource
•
availability and criticality to project limitations.
objectives.

Security Breaches Data loss or theft, disruption of
operations, compromised systems or
networks, financial losses, legal
liabilities, damage to reputation.
• Implement comprehensive
cybersecurity measures to
safeguard sensitive data and
systems.
• Utilize encryption, firewalls, access
controls, and intrusion detection
systems to protect against
unauthorized access and data
breaches.
• Conduct regular security audits and
vulnerability assessments to
identify and address potential
security weaknesses.
Implement robust cybersecurity
measures (firewalls, encryption,
access controls), conduct regular
security audits and risk assessments,
develop incident response plans,
provide cybersecurity training to
employees, comply with relevant
regulations (e.g., GDPR, HIPAA).

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 • Provide ongoing cybersecurity
training and awareness programs
for employees to mitigate
humanrelated security risks.
• Develop and test incident response
plans to ensure a timely and
effective response to security
breaches.
• Establish effective communication Facilitate open communication
channels and mechanisms for channels, establish clear roles and
Decision delays, project scope stakeholders to express concerns responsibilities, conduct stakeholder
changes, communication breakdowns, and feedback. analysis to understand concerns and
Stakeholder Conflicts interests, mediate conflicts through
decreased morale, loss of stakeholder • Conduct stakeholder analysis to
support, project failure. negotiation or conflict resolution
understand their interests,
techniques, seek consensus on project
expectations, and potential
objectives and priorities.
conflicts.
• Regularly maintain and update
technology infrastructure and
systems to ensure optimal
performance and reliability.
• Establish service level agreements
(SLAs) with technology vendors to Implement redundancy and backup
guarantee timely support and systems, conduct regular maintenance
Downtime, disruption of services, loss of resolution of technical issues. and updates, invest in reliable
Technology Failures data, decreased productivity, financial technology solutions, develop
• Develop and test contingency
losses, damage to reputation. contingency plans for technology
plans to restore critical systems failures, provide technical support and
and services in the event of
training to users.
technology failures.
•
Provide technical training and
support to users to enhance their
proficiency and troubleshooting
capabilities.
This template was provided by eVersity for the purpose of this project. All entries and content are the responsibility of the student.

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 FINANCIAL STRATEGY PRESENTATION OUTLINE TEMPLATE – USE THIS TEMPLATE AND THEN PRESENT YOUR POWERPOINT
TASK 3:

Slide # Content Notes / Example Data

Evaluation of my money such as income,

1 • Listing down the ingredients and materials that will be needed.
debt, spending and saving in my business.

I will always update the data of my business

every end of the month, to be able to acquire • Environmental sustainability
2
if there is an occurrence of development and • Data presentation and analysis of profit
sales as well.
I will used social media platforms to gather
• Expand services
3 potential customer and offer convenient
options to utmost satisfy their needs. • Use numerous assets coming from technological advancements.

I will take a personal supplier to lessen the

burden in finding new supplier. To be able to • Lean operations
4
get a discount to them and save at least a bit • Automation of services
of my revenue.
To avoid potential dilemmas that may occur, I
will think an alternative way on how to • Financial buffers
5
prevent as soon as possible. So that, it could • Investment diversification
not affect my business itself.
First and foremost, I will make a draft about
this and brainstorm future scenarios that will • Best case
6
help me to identify the trends and driving • Worst case scenarios
forces. With that, I can successfully manage

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 my business well.
I will rationally think about a comprehensive
and concise strategy, that will be adamantly
7 deepen my knowledge to be able to create a • Summarize the strategy and immediate actions
technique that would be beneficial for my
business in a long run.
This template was provided by eVersity for the purpose of this project. All entries and content are the responsibility of the student.

NOTE: This format can serve as a guide to help students systematically cover all necessary aspects for a robust, compliant project that aligns with academic
standards and provides practical insights for the industry.

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