2.Case Studies for Project Management Week 9 Wedding Events for Cy's Catering Background Upon graduation, Deepika landed a junior marketing director position for Cy's Catering in Toronto. As a division of the larger dining operation, Cy's Catering provides catering services for weddings at various venues in southern Ontario. Within a couple of months on the job, Deepika was asked to develop an income statement template for several new menu themes developed for different types of clients. Deepika thought that this project would be a great opportunity for her to apply the concept of design thinking that she had learned from her event management class. The cost structure for each menu option will be first built based on the consultation with the catering and main kitchen managers. With the cost items laid out, she will incorporate them into an income statement template on a spreadsheet she will create. Then multiple simulations will be test-run by changing fixed costs and revenues for each menu item. The simulation results will be shared with the direct supervisors and kitchen management. Define the problem make a new set of menus that appeal to different segments of wedding clients. Determine needs -Some clients are more open to international tastes and prefer options for personalization. Brainstorming-Consult with the dining managers and executive chefs from the main kitchen. Prototyping -Build a prototype income statement template for different menu options. Testing-Test the prototypes and adjust if needed. Once all the items are incorporated into her prototype income statement, Deepika decided to test the prototype with the new menu options. . After a series of discussions with her two dining managers, she ran a simulation with an $80 per meal option for 100 wedding guests at a standard venue with average personnel, food quality, and food preparation processes. The total sales revenue from the event equals $8,000($80 per meal 100 guests). The simulation also generated an estimated dollar amount for each of the line items of the income statement, expressed as a percentage value of the event revenue. Based on the estimated event revenue given, fill in the blanks in the income statement below and answer the following key questions. What is the contribution margin (CM)? What is the contribution margin per guest for this meal option?

What is the net profit for this simulation and the break-even point for the number of guests required?

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