Event management

budget uncertainties
insurance against risks

MST326 lecture 8

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

24 February 2007 MATS326/EventMgt.ppt