Risk Assessment in Event Planning

This report also covers the nature and characteristics of a given segment of the leisure or events industry, what economic impact towards society using PESTLE to specify these aspects and also what skills required of managers in the segment mention on this topic.

I think company’s look at how popular the event is not only in the present day but also how popular it can become, I also think they look at what percentage of their target market attend those events, and of course they look at how much money can be made at a single event.

Contextual factors in events management refers to different characteristics that can play into the way that events are conceived, planned or delivered. These characteristics can impact the success or failure of an event and therefore need to be taken in consideration throughout the events planning process. They can be categorised into six main areas including social, environmental, legal, political, physical, technological and organisational. Using The Sydney Gay and Lesbian Mardi Gras (SGLMG) as an example, I will identify three of these contextual factors that would need to be considered when conceiving, planning and delivering an event such as the Mardi Gras.

This figure likely includes the industry’s whole span from mega events such as the Pan Am Games, to small scale corporate and personal events. On nation level research firm IBIS World estimated earlier this year that the Canadian event planning and trade show sectors would generate $1 billion in revenue in 2014 (Trade Shows & Event …, 2014). This marked an increase of 2.2% over the previous year, however the company noted the industry’s success was heavily based on corporate spending and the state of the economy (Trade Shows & Event …, 2014). This alludes to the fact that many organizations likely see spending on event management as non-essential, meaning event management firms may need to heavily stress their value proposition.

Risk refers to a likelihood, probability, a chance that a loss may occur in a given organization. Most of the times, there is a high risk when there is vulnerability. In this case, vulnerability refers to a weakness that the organization has. Risk assessment refers to the process of identification of potential hazards and proper analysis of the expected losses if those hazards occur (Homeland Security, n.d.). Risk assessment as a way of profiling risk according to impact to the organization. Some organizations have business impact analysis exercises geared towards determination of potential hazards based risk assessment approaches. Organizations’ risk differ depending on the size and the type of business they are doing. The disparity in organizations’ risk call for different adaptation of risk assessment approaches. Even with the disparities of the businesses, proper risk management not only ranks the risks according to the seriousness but also identifies the best methods to control risks in an organization.

Analyzing the event research means that the ramifications of organizing Tough Mudder will involve several players toward understanding different vital factors. For example, aspects of marketing will take a high precedence in regards to the models of operation such as emergency plans and scheduling to accommodate the targeted audience. Conversely, attendance audits always factor in advertisers, attendees, and exhibitors to facilitate the decision-making process (Mallen & Adams, 2013). It equally assists in finding the accuracy of available data in most parts of South East Queensland. Therefore, during the event research, economic impact studies are fundamental because they will compare varying variables that are under

The proliferation of events, and event-producing agencies, has resulted in the need for the performance of events to be evaluated more stringently. Event managers and planners are now being called upon more often to prepare comprehensive post-event evaluations with detailed accounts of the impacts of the event. As many special events require financial assistance from governments and businesses in order to be staged, post-event evaluations are required by such agencies that need to assess the value of their investments. Evaluation is also required by event organisers who need to justify their activities to a diverse set of stakeholders, which includes sponsors, funding agencies, economic and tourism development agencies, special interest groups, and the

When we plan an event, it's important to be imaginative. Events and conferences can be educational, with public speakers and classes; or fun, such as an outdoor cookout for customers, suppliers, and employees. It takes time, effort, and good project management skills to plan and organize a successful event.

Response involves a number of protocols whereby, intelligence is applied as well as information that is useful in lessening the impacts or the results of the accident. Secondly, investigations have continued to get to know the nature and the core sources of the threats. This also increases the security operations. The next thing is continuing the assessment of the public health and testing and immunizations processes. Finally, the response involves restoring the infrastructure that which is critical for example, utilities. The Smart Emergency Response System abbreviated as SERS is the agency involved in responding to disasters (Warfield, 2010).

Research of social impact of events is one of the emerging topics in event management literature and has a great degree of importance for a variety of different reasons considering their short term, high profile and a relatively profound effect on everyday life of local communities. (Ritchie

More event jobs are available in larger towns and cities or locations with large conference and

Every event requires a well-thought through plan to guarantee a successful event. A plan is a crucial and important process no matter what type of event. A plan is the most important part of an event, this is because without it there will be no structure to the day, specific legal requirements will not be followed through, an event plan is key to secure permission for the event to proceed. The event I will be discussing is a charity event, to raise money for dementia UK, the event is called a Charity Ball. Women are able to dress up in ball gowns whilst the men will wear a suit and tie. Every year the event depends on the funds of the people attending. The event is funded from people purchasing the tickets to attend the event. The money from

Refreshed from the summer holidays, we are resuming a busy calendar of events this September. The industry has put its expertise and efforts into creating winner events, maximizing exhibitors’ returns on investment and enhancing visitors’ experience. Crucially, for all of us in the industry, success will depend on a number of elements relying on the symbiotic relationship between venue and events’ identify. Each show has its unique audience and identity; and events’ organizers have to meet their needs to guarantee it continues running and generating outstanding returns.

Chapter nine of Reading In Risk examines the risks involved with the amelioration of other risks. Although we are in the safest time period in history as a culture we seem preoccupied with risks and their reduction. Though on the surface this seems like a good thing how do we decide what risks to concentrate on, not all of them will happen. A further consideration to account for is that by using resources we deplete future resources to deal with the shocks that were caused by risks we did not address or novel ones that arose because we displaced the risk instead of reducing the net risk. This is problematic for government agencies because they often disagree on important risk reduction strategies since they are focused on various risks and

A case study is a situation of events that involves a real or hypothetical scenario that includes real life problems if ever one to occur. Case studies are one of the most beneficial problem solving techniques a business can invest in because they can help improve decision making and help to identity flaws in current systems. Analyzing case studies requires critical thinking and knowledge of the subject in order to predict the outcome. For any business to learn from a case study the best practice is to be put in a situation, but to understand the value acting it out as if it 's really happening is where it is effective. The case study "The Olympics and the risks that comes with it" below details the issues of risk and how critical thinking, knowledge and patience can apply to mitigate threats that can have significant impact.