So what I'm looking for are ideas like:
1. I would give the class a Work Breakdown Structure outlining all the activities required to cook dinner for a date, plan a party, or something else college students have experience doing
2. Give them a set amount of "cash" to allocate to each activity and give extra to allow for a contingency reserve (to fund complications or changes, any money left over in the contingency reserve at the end of the project is wasted money), this is their budget. Any money that is not included in the budget is given back to management.
3. Gives some basic guidelines on cost and initial requirements and allow the groups time to decide how to allocate the funds.
4. Read off scenarios that effect the actual cost of the project, such as accidentally breaking bottles of alcohol and having to repurchase or more people RSVP to the party which requires more food. If the group underfunded the drink or food categories then they have to pull money from their contingency reserve. If their contingency reserve runs out the project is broke and unsuccessful.
5. Give out a prize for the team that has the largest contingency reserve at the end (they budgeted the most efficiently) and a prize for the team that gave the most money back to management and still produced a successful project (lowest overall cost of the project)
This is the kind of activity I'm trying to plan and any advice would help