By: Steffy F des

scrib as a public ‡ An v nt can b ass mbly for th purpos of c l bration, ucation, mark ting or r union. Ev nts can b classifi on th basis of th ir siz , typ an cont xt.

social or a combination of th two.EVENT MANAGEMENT ‡ Is a way of outsourcing occasions that ar ith r busin ss. Ev nts can b as iv rs as w ings to political ralli s .

Funeral etc ‡ Education and career events: Events like education fair. contest. job fair. workshop. Wedding. competition etc . Hen/Stag party. seminar. Gra uation ay. Anniversary.AN EVENT CAN E ‡ Social / life cycle events: Ev nts lik irth ay party. debate. Engagement. achelor's party. Retirement day.

flash mob. .‡ Sports events: Events like Olympics. fashion shows. celebrity nights. wrestling matches etc. festivals. Wimbledon. fairs. jewellery shows. stage shows etc. ‡ Entertainment events: Events like music concerts. marathons. World Cup. beauty pageants. award functions.

‡ Political events: Events like political procession. rally. ‡ Corporate events: Events like MICE (meetings. Katha. political functions etc. demonstration. exhibitions). product launches. Pravachan. Dusherra fair etc. road shows. Diwali fair. conferences. . buyer-seller meet etc ‡ Religious events: Events like religious festivals / fairs. incentives. religious procession.

‡ Fund raising/ cause related events: Any event can be turned into a fund raising or cause related event e.g. auctions .

THINGS IMPORTANT WHILE ORGANIZING AN EVENT ‡ ‡ ‡ ‡ ‡ ‡ ‡ Concept and Idea testing Setting up a committee Demand and date planning Planning an event Identifying a venue and logistics Marketing and PR Identifying and managing risks .

. RENTAL: Facilities rental must be considered early in the planning stage. Rental can be in the form of specific insurance requirements. ‡ LOCATION FEES.WHY PLANNING IS SO IMPORTANT ‡ SPECIAL COMMITMENTS: Any allocation of event proceeds such as benefit runs and allocations to the State should be clearly indicated and approved in the planning stages. Special requirements of the site must be included in this category. direct fees and/or percent of gate receipts.

Special art work. . WRIST ANDS: There are costs involved when printing is done and the cost can be excessive. now is the time to estimate and budget for costs. MAILING: Flyers must be planned ahead. mailing costs and the logistics of distribution must be considered.‡ TICKET PRINTING. Careful planning will avoid last minute rush printing. ‡ ADVERTISING: If advertising is to be considered. ‡ FLYER COSTS.

When providing food.‡ INSURANCE COST: Event insurance costs should be established. This area is the most financially abused. Liability insurance should be mandatory especially if alcohol is to be served. ‡ FOOD AND/OR GUARANTEE: A facility that provides food may require a minimum guarantee. . condiments and paper products. Experienced people should be part of the committee or be easily accessible for consultation. Event committees routinely overspend in this area. the committee must plan expenses carefully. Last minutes items which blow a food budget are eating utensils. ‡ LIQUOR PERMIT FEE: Application must be made for this permit at least 30 days in advance of the event.

FEES: Vendors.‡ VENDORS COMMISSION. ‡ SPONSOR FEES: If sponsors are involved determine their expectations in advance and be sure they are made aware of your method of achieving these expectations. . Always send a thank you note. whether it be food or merchandise must be required to pay a pre-determined fee or percentage of receipts to the organizers. Always provide an event summary with information that supports your claim of exposure for his business. A happy sponsor will tell his peers and your prospects increase.

understanding what you can afford. A budget can also be used as a pricing tool ‡ A structured budget helps in monitoring costs. a loss or will break-even.‡ A budget is a fundamental tool for an event director to predict with reasonable accuracy whether the event will result in a profit. . reporting to management and most of all keeping things under control.

Badges .BUDGET ITEMS ‡ The first step in coming up with a comprehensive budget is to separate expenditures and income.Speakers/Performers accommodation .Catering .Venue .Admin .Equipment . ‡ For an average conference EXPENDITURES will be: .Team/Staff .Speakers/Performers token .Advertising and Promotion .

monitor and allocate financial weight to each item .‡ INCOME might be: .Tickets .Public Funds (Should they be available) ‡ Control.Sponsors .

magazines ± Specialised mailing lists ± E-discussion lists ± SMS/MMS telecommunications ‡ Media ± flyers.BUDGET FOR MARKETING AND MEDIA ‡ Advertising ± TV. journals. brochures etc ‡ design costs ‡ printing costs ‡ mailing costs . radio.

BUDGET: OTHER COSTS ‡ ‡ ‡ ‡ administration personnel on-the-day travel (to view venue in advance) audio-visual aids and technician other income ‡ sponsorship ‡ flyers in the delegate pack .

‡ Failing to identify full range of costs. ‡ Failing to find a large enough venue. ‡ Not involving everyone in budget preparation. . ‡ Overlooking subsidiary costs. not knowing how much is being spent.COMMON BUDGETING MISTAKES ‡ Ignoring event objectives when setting the budget. ‡ Being over-optimistic about demand. ‡ Not having enough start-up capital (for deposits etc). ‡ Failure to issue receipts and/or invoices. ‡ Plucking a figure out of the air for ticket sales before costing.

HOW MANY WILL COME? ‡ ‡ ‡ ‡ Surveys Attendance at previous event Attendance at similar event Knowledge of size of available customer base .

BREAK-EVEN ANALYSIS ‡ ‡ ‡ ‡ Break-even Chart Total Revenue Fixed costs Variable Costs .

‡ Fixed Costs Venue hire Guest speaker Menus Mail-out Booking Forms Photocopying XXX XXX XXX XXX XXX XXX XXX ‡ Variable Costs Cost per head @XXX ‡ Total Costs ‡ Revenue @XXX/ticket ‡ Profit XXX XXX XXX XXX .

A DETAILED BUDGET ‡ Budgetary control ‡ More revenue-led or cost-led ‡ Budgeting allocates responsibility for various activities ± Revenue Budget ± Publicity Budget ± Operations budget ‡ ‡ ‡ ‡ Budgeting compares forecast v reality Financial guide not a straitjacket Ensures resources are economically spent Budget can be summary or highly detailed .


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