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Risk Management for events: an introduction

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An introduction to the application of risk management to events and festivals. there is an accompanying voice frile on soundcloud - the URL is on slide 2

Published in: Business, Economy & Finance

Risk Management for events: an introduction

  1. 1. 1 Copyright William J. O’Toole epms.net Risk Event Management Risk Management - possible problems Using the ISO 31000:2009 for events and the Event Management International Competency Standard (EMICS)
  2. 2. 2 Copyright William J. O’Toole epms.net Commentary  The commentary to accompany this slide is found at:  https://soundcloud.com/epms/risk-commentary-64
  3. 3. 3 Copyright William J. O’Toole epms.net Caveat  This is not legal advice  This is the process - not the result  Every event is different therefore the risks must be analysed – not assumed  This process is recognised around the world and used by almost every major company you deal with e.g. IKEA, VW  It is recognised in many courts of law around the world.
  4. 4. 4 Copyright William J. O’Toole epms.net Changing definition of risk “Measurable uncertainty”–Knight, Frank H. (1971), “Risk, Uncertainty and Profit” (University of C Press), Orig. pub. 1921 “Combination of the probability of occurrence of harm and the severity of that harm”– Source: ISO/IEC Guide 51:1999 “Combination of the probability of an event and its consequence” –ISO/IEC Guide 73:2002 “Chance of something happening that will have an impact on objectives”–AS/NZS 4360:2004 “Effect of uncertainty on objectives” ISO 31000:2009 (Draft) A working definition : Possible Problems
  5. 5. 5 Copyright William J. O’Toole epms.net
  6. 6. 6 Copyright William J. O’Toole epms.net Control and Management Persons who control or manage matters that give rise or may give rise to risks to health and safety are responsible for eliminating or reducing those risks so far as is reasonably practicable. (Source: Section 4 (2) The principles of health and safety protection, Occupational Health and Safety Act 2004)
  7. 7. 7 Copyright William J. O’Toole epms.net
  8. 8. 8 Copyright William J. O’Toole epms.net
  9. 9. 9 Copyright William J. O’Toole epms.net
  10. 10. 10 Copyright William J. O’Toole epms.net
  11. 11. 11 Copyright William J. O’Toole epms.net Risk Management Risk Management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. Risk Management is as much about identifying opportunities as avoiding or mitigating losses.
  12. 12. 12 Copyright William J. O’Toole epms.net Example of Risk management requirements for events
  13. 13. 13 Copyright William J. O’Toole epms.net Client company, council Sponsors Other interested parties INSURANCE Event Manager Old Model – pressure/response
  14. 14. 14 Copyright William J. O’Toole epms.net Event Manager Contractors: AV, Stalls Caterers… Staff, volunteers Venue Old Model - transfer liability
  15. 15. 15 Copyright William J. O’Toole epms.net Event Manager Client company, councilSponsors Other interested parties Contractors: AV, Stalls Caterers… Staff, volunteers Venue New Model - consultation/ risk management plans
  16. 16. 16 Copyright William J. O’Toole epms.net Event Manager Client company, councilSponsors Other interested parties Contractors: AV, Stalls Caterers… Staff, volunteers Venue Participants: attendees, staff, volunteers, competitors, exhibitors, spectators… DUTY DUTY OF CARE
  17. 17. 17 Copyright William J. O’Toole epms.net Consultation Client company, councilSponsors Other interested parties Contractors: AV, Stalls/exh Caterers… Staff, volunteers Venue OHS Act and regulations
  18. 18. 18 Copyright William J. O’Toole epms.net Consultation – what does it mean? “Consultation involves providing employees with relevant information and giving them the opportunity to express their views . These views are to be valued and taken into account by the employer” Summary of the OHS Regulation 2001.
  19. 19. 19 Copyright William J. O’Toole epms.net Event Manager Stakeholders RTA, council.. OHS Coroners Court Laws Insurance Co Risk Management Plan
  20. 20. 20 © W. J. O’TooleCopyright William J. O’Toole epms.net Reputation risk  Can be a secondary risk  Intangible  Perception by your stakeholders - would you visit Yemen or Zanzibar?  Moral hazard – would you do business with a politician who is on corruption charges.  Complex - uncertain effect on cost  Loss of goodwill – one of the ROI – cost?
  21. 21. 21 © W. J. O’TooleCopyright William J. O’Toole epms.net
  22. 22. 22 © W. J. O’TooleCopyright William J. O’Toole epms.net
  23. 23. 23 © W. J. O’TooleCopyright William J. O’Toole epms.net More information  Books: Events Feasibility and Development, Corporate Event Project Management, Festival and Special Event Management - find them - William O’Toole author  Websites such as crowdsafe.com  The best is to attend a workshop on risk and project management.  Send me an email to find out the nest workshops

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