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budget uncertainties insurance against risks
MST326 lecture 8
24 February 2007 MATS326/EventMgt.ppt
Event management What is an event?: conference..ppt . symposium hands-on training marketing exhibition sports competition many others .. 24 February 2007 MATS326/EventMgt.
Their names are What and Why and When And How and Where and Who" 24 February 2007 MATS326/EventMgt.Rudyard Kipling's poem: I Keep Six Honest Serving Men: "I keep six honest serving-men (They taught me all I knew).ppt .
and either pay lower day-rate to cover refreshments perhaps with teas/coffees required leave delegates to find own refreshments Access arrangements disabled persons exhibition materials 24 February 2007 MATS326/EventMgt.Budget: conference venue Day rate per person all-in Hire venue at fixed costs.ppt .
Budget: conference speakers speakers pay full registration fee include their accommodation? include travel and subsistence costs? generates goodwill and eases speakers load speakers pay (reduced) registration fee speakers attend free the latter two require higher registration fees from non-speaking delegates 24 February 2007 MATS326/EventMgt.ppt .
vegan.ppt . halal. etc 24 February 2007 MATS326/EventMgt.Conference: delegates Poster papers often used to gain additional delegates Access for disabled persons Special dietary requirements vegetarian.
journals. radio. brochures etc design costs printing costs mailing costs 24 February 2007 MATS326/EventMgt. magazines specialised mailing lists e-discussion lists SMS/MMS telecommunications media flyers.Budget: marketing and media advertising TV.ppt .
Budget: other costs administration personnel on-the-day travel (to view venue in advance) audio-visual aids and technician . and other income sponsorship ³flyers´ in the delegate pack 24 February 2007 MATS326/EventMgt.ppt ...
ppt . annual expenditure twenty pounds and sixpence. Mr Micawber in Charles Dickens ³David Copperfield´ 24 February 2007 MATS326/EventMgt. [£19. Annual income twenty pounds. [£20.97½p] result happiness. annual expenditure nineteen pounds nineteen shillings and sixpence.2½p] result misery´.Budgets ³Annual income twenty pounds.
Continue or cancel? cancellation may incur: lost deposits on venues refunds of any prepayments speakers spending in anticipation of event ³all that effort for nothing´ continuation may result in: negative budget ³loss leader´ informing future events loss of reputation. if delegate expectations not realised 24 February 2007 MATS326/EventMgt.ppt .
Other types of events Broadly the same considerations outdoors may also need formal permission to use public space fenced area accessible only to ticket holders security to ensure no freeloaders public address systems first-aid provision independent caterers 24 February 2007 MATS326/EventMgt.ppt .
Insurance what can go wrong? pay-on-the-day and no-one arrives the weather (no audience .ppt .no ³atmosphere´) insurers will cover the risk? they are in business to make money they consider the risks involved they request lower premiums where a full risk assessment already exists where plans/budgets have sensible contingency 24 February 2007 MATS326/EventMgt.