Faulkner University Compute the Total Direct Expenses Excel Task

Part 1

Excel work sheet

Part 2

http://jwp.revsim.com/events/10939/months/12/resul…

Simulation Timeline for November and December:

This week you will make decisions for the months of November in the first part of the week and for December in the latter part of the week. We will do this from now on through Week 15, on the same schedule.

In order that students have time to make decisions AND review the reports they will have access to once November “ends”, this is the schedule we will follow for each week.

1. Your instructor will notify you when the simulation has been run for October (sometime on Monday morning)
2. Access the simulation on Monday after you have been notified that October has been run and review your performance reports.
3. After you have assessed your performance for the prior month, adjust your strategy for the current month, and enter November decisions by Thursday at 11:59PM Eastern.
4. Your instructor will cycle the game on Thursday morning and let you know when you may review your reports and begin November decisions. DO NOT begin to make decisions for November until your Instructor notifies you that it is OK to do so.
5. After you have assessed your performance for the prior month, adjust your strategy for the current month , and enter December decisions by Sunday at 11:59PM Eastern.
6. Each student must post TWO entries to their Reflection Journal. This week, your posts will be about what you learned from October and November results, respectively. Journal posts are due by Sunday at 11:59PM Eastern.

Simulation Decision Sequence:

The following is the recommended decision sequence each team should be following. We highly recommend that your team responsibility be divided so that each of these decision areas is a focus of one team member, and that the work is evenly distributed each week.

1. Review the Information Tab to see if there is new information posted this month.
2. If there is an RFP, complete and submit your bid using the “communicate” function in the simulation by the end of the current month (either Wednesday or Sunday).
3. Review your historical reports, and use this information to develop changes to your strategies to improve your hotel’s performance.
4. Complete the rooms occupied forecast.
5. Complete and enter your rate decisions.
6. Complete your decisions about Refurbishment, Services, and Facilities. Remember that you may only spend whatever funds are available in the FFE Reserve. Funds are added to this reserve each month based on your total revenue from the previous month.
7. Complete your staffing, wage, and training decisions. Remember that your occupied rooms forecast must be completed and updated in the system BEFORE the staffing guide on the staffing tab will update.
8. Complete your decisions on marketing and advertising. Pay close attention to the Market Momentum and spend index numbers to help guide your strategy.