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Published

M.I.C.E.

M.I.C.E.

Published in Business , Technology
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Transcript

  • 1. Event management budget uncertainties insurance against risks 24 February 2007 MATS326/EventMgt.ppt
  • 2. Event management 24 February 2007 MATS326/EventMgt.ppt
    • What is an event?:
    • conference, symposium
    • hands-on training
    • marketing exhibition
    • sports competition
    • many others ...
  • 3. 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
  • 4. 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
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. 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
  • 9. Budgets
    • “ Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and sixpence, [£19.97 ½p] result happiness . Annual income twenty pounds, annual expenditure twenty pounds and sixpence, [£20.2 ½p] result misery ”.
    • Mr Micawber in Charles Dickens “David Copperfield”
    24 February 2007 MATS326/EventMgt.ppt
  • 10. 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
  • 11. 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
  • 12. 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