Event management

budget uncertainties insurance against risks

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

Rudyard Kipling's poem: I Keep Six Honest Serving Men:

"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

Budget: conference venue

Day rate per person all-in
Hire venue at fixed costs, 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.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

Conference: delegates
Poster papers
often used to gain additional delegates

Access for disabled persons Special dietary requirements

vegetarian, vegan, halal, etc

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MATS326/EventMgt.ppt

Budget: marketing and media

advertising
TV, radio, journals, magazines specialised mailing lists e-discussion lists SMS/MMS telecommunications

media
flyers, brochures etc
design costs printing costs mailing costs
24 February 2007 MATS326/EventMgt.ppt

Budget: other costs

administration personnel on-the-day travel (to view venue in advance) audio-visual aids and technician

... and other income

sponsorship flyers in the delegate pack
24 February 2007 MATS326/EventMgt.ppt

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

continuation may result in:

negative budget loss 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 - no atmosphere)

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.ppt