My sister and I are doing our own version... she's only 12, and I haven't written anything more than a short (short short) story and a couple essays in college - many years ago. SkyTurtle (little sis) and I have decided that this year we'll do 10,000 words. Write in November, edit in December, post by the end of the year. That's the plan.

Our other sister is quite a writer, with lots of stuff up on fanfiction.net (greywriter, check her out), and she's doing the big event.

Good luck with yours.

N