Page 139 - DMGT304_EVENT_MANAGEMENT

Event Management

Notes Risks of Financial Loss

Loss of assets due to theft, fire, flood or vandalism
Financial losses resulting from staging events, activities and/or programs
Loss of future income i.e. loss of sponsor

Financial losses arising from legal proceedings
Risks of Losing Facilities

Loss of facilities due to environmental damage
Loss of facilities due to bio-hazards
Loss of facilities due to Acts of Nature

!

Caution Always observe the term risk as including far more than health and safety issues.
Risks of Imprisonment

Failing to abide by Workplace Health and Safety Regulations
Involvement in drugs
Sexual relations with minors
The first step in planning any new event is to conduct a feasibility study. The purpose of such a
study is to identify and assess the benefits and risks of the event, and to identify what problems
need to be solved in order to successfully stage the event.

The feasibility analysis should aim to identify any risks such as:
The sufficiency of lead time (years, months, weeks) to organise the event
The date of the event and whether it clashes with any other events that may significantly
effect the success of the event
The budget and whether the event can be run without incurring a loss
The degree of support that can be gained from the community, government, and parent
bodies.
The sufficiency of resources such as equipment, manpower, finances and facilities
The environmental impact and whether the event may cause a disturbance to surrounding
community, and cause traffic congestion, waste, noise, and lighting spillage
The legal considerations such as permits, landholders permission, alcohol licensing,
fundraising regulations

In addition to the above, there needs also to be a thorough examination of risks to human safety
as sporting events are inherently risky. It is the first and foremost duty of all event directors to
implement strategies to ensure the safety and well-being of all event goers. This responsibility
even extends to a consideration of the risks involved if parents who are spectating fail to keep
control of small children. For example, small children may be injured in the spectator stands by
running and jumping from aisle to aisle, step to step and seat to seat.

134 LOVELY PROFESSIONAL UNIVERSITY