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24 February 2007 MATS326/EventMgt.ppt
Event managementbudget 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
24 February 2007 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,[£19.97½p] result happiness.
Annual income twenty pounds,annual expenditure twenty pounds and sixpence, [£20.2½p] 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
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