Event management

Event management is particularly challenging from an operational viewpoint. In many cases, events are staged on sites where everything has been set up over a 24-hour period, with all elements carefully synchronised. In contrast, many events are years in the planning: large convention bids are often won five years before the event is held. For the very competitive bidding process, budgets need to be developed and prices quoted, requiring a good understanding of market, economic, and political trends, as well as consumer choices. This long-term view is the basis of strategic management, which is covered in Part 1 and focuses on the event concept, feasibility of the event, legal compliance, and financial management. Marketing is a critical success factor and another important topic of this first section, many events (sporting, cultural, and arts) involving long-term sponsorship arrangements with key industry players. Relationship building is particularly challenging since there are so many stakeholders involved in events, including government agencies at many levels. Part 1 will look at all these aspects, including strategic risk, before moving on to the second part where operational planning and implementation will be covered in detail.