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Event management

budget uncertaintiesinsurance against risks

MST326 lecture 8

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Event management

What is an event?: conference, symposium

hands-on training marketing exhibition

sports competition many others ...

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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 WhenAnd How and Where and Who"

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Budget: conference venue

Day rate per person all-in

Hire venue at fixed costs, and eitherpay lower day-rate to cover refreshments

perhaps with teas/coffees required

leave delegates to find own refreshments

Access arrangements disabled persons exhibition materials

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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 registrationfees from non-speaking delegates

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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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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

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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

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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

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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

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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

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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