Planning Schedule

Subject-Event Management Course-BBA-VI

Unit-II

1

Preparing a planning schedule and a proposed outlay

• A successful event coordinator must have many attributes, but two important characteristics are good organizational skills and attention to detail. A key tool that will help in this regard is the planning schedule.

• The planning schedule is a detailed list of all the required tasks and steps, the required completion date, and the person, department, or committee responsible for each. To meet this a cost sheet will have to prepared to ascertain the estimated cost of the event.

• One major question would be whether the execution would be through an internal event management team or whether the services of professional Event Managers would be required.

• In many cases, the allocation of responsibilities is worked out between the internal event team and the External Managers

• This keeps the event cohesive as routine tasks are executed by the internal team and the external and stage management aspects are organized by Event Managers who have more knowledge and experience in the Event business.

• The event manager should prepare a plan comprising all these details and keep it handy

• This schedule will work as a guide for all the members and all of them have to adhere to the guidelines to ensure the success of the event

• The importance of having all the planning issues covered is that, by anticipating problems, special needs, and hidden costs, the manger can be calm during the storm of the event.

• If he/she always asks “what is the worst that can happen?” and then have a solution ready, they will have a reservoir of strategies to be used at a moments notice, no matter how serious the crisis.

• The event manager cannot have a successful planning structure without a budget and priorities for how the money will be spent.

• Financial decisions affect every area of the event and must be established early in the process and monitored on a regular basis.

• A budget is a statement of income and expenditure that has been allocated under a set of headings, for a period of time.

The Budget

• Budgets are a clear way of identifying and allocating funds and communicating important financial information

• They can also be used as a basis for evaluation and to help future planning.

• Preparing a budget is part of the initial planning stage.

• A budget includes projected revenue and expenditure from which an estimate of the net profit from the proposed event can be ascertained.

• Forming a budget begins with the costing of essentials, including the allocation of staff to the planning and of staging of the conference.

• Then there is accommodation, transportation, catering and so on. A budget is a plan based on accurate quotes from all contractors and suppliers and careful research to ensure that no expenses have been overlooked.

• It provides guidelines for approving expenditure and ensuring that the financial aspects of the event remain on track. The budget is a part of the event proposal or the basis of the quote by the event management company to the client.

• The budget as a document is an important planning tool, but the true value is in the degree to which the manager uses it and in the accuracy and thoughtfulness of the preparation process

A budget represents the income and expenses of an organization or the individual event. An event budget is based on the following factors

1. Marketing projections and estimates

2. The general history of previous identical or similar

events

3. The general economy and the forecasts given by the

economists.

4. The income and expenses reasonably expected to

arise with the resources available.

Preparing a budget

• While preparing a budget a manager needs to include every possible income or expenditure he can think of.

• If the manager has historical data from a similar event then he is really lucky because data from a previous experience can give him an idea of previous revenues and expenses.

• He should not try and map out the budget in a single sitting, but rather plan out a few sessions so that he can do a thorough job.

• The more meticulous he is, the more accurate will be the end results.

References • 1. https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTpgIv43pRf2

5Y9P0XVNdYmIwBaaYSSN3BIDRzfARW3j3Mmycue• http://s3.amazonaws.com/ppt-download/eventmanagement-1403201110

00-phpapp01.doc?response-content-disposition=attachment&Signature=HNuhJp4Ab2IBhq62xZRE6bAVmBs%3D&Expires=1419849384&AWSAccessKeyId=AKIAIA7QTBOH2LDUZRTQ