A special event was recently held in your restaurant, and you have been asked by the Director of Food & Beverage to analyse the results of the events, relative to the event budget that was originally forecast.
Here is an overview of what is expected of you in the two parts of this assignment:
1. Variance analysis, explanation & recommendations:
• Conduct a variance analysis on your event budget/actual results
• Explain the impact of the variances on profitability
• Provide logical and specific reasons for why each variance occurred
• Suggest recommendations for how to address similar issues in the future
2. Impact on strategic objectives:
• Explain the impact the variances will have on the four strategic objectives of your food outlet
