Professional Documents
Culture Documents
Event Management: Budget Uncertainties Insurance Against Risks
Event Management: Budget Uncertainties Insurance Against Risks
MST326 lecture 8
24 February 2007 MATS326/EventMgt.ppt
Event management
What is an event?: conference, symposium hands-on training marketing exhibition sports competition many others ...
24 February 2007 MATS326/EventMgt.ppt
"I keep six honest serving-men (They taught me all I knew); Their names are What and Why and When And How and Where and Who"
24 February 2007
MATS326/EventMgt.ppt
pay lower day-rate to cover refreshments leave delegates to find own refreshments
24 February 2007
MATS326/EventMgt.ppt
Conference: delegates
Poster papers
often used to gain additional delegates
24 February 2007
MATS326/EventMgt.ppt
media
Budgets
Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and sixpence, [19.97p] result happiness. Annual income twenty pounds, annual expenditure twenty pounds and sixpence, [20.2p] result misery. Mr Micawber in Charles Dickens David Copperfield
24 February 2007 MATS326/EventMgt.ppt
Continue or cancel?
cancellation may incur:
lost deposits on venues refunds of any prepayments speakers spending in anticipation of event all that effort for nothing negative budget loss leader informing future events loss of reputation, if delegate expectations not realised
MATS326/EventMgt.ppt
24 February 2007
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 - no atmosphere) 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.ppt