budget uncertainties insurance against risks

Event management

Event management
What is an event?: conference, symposium hands-on training marketing exhibition sports competition many others ...

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"

Budget: conference venue

Day rate per person all-in Hire venue at fixed costs, and either
pay

lower day-rate to cover refreshments

with teas/coffees required

perhaps

leave

delegates to find own refreshments

Access arrangements disabled persons exhibition materials

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

Conference: delegates

Poster papers
often

used to gain additional delegates

Access for disabled persons Special dietary requirements

vegetarian,

vegan, halal, etc

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

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

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

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,

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

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