If you fail to plan, you plan to fail.

Events attract considerable media attention, draw sizeable investment from sponsors, involve interactions with the public, invitees or participants and contain non-negotiable dates. They also require seamless integration of hundreds of non-standard elements across infrastructure, permissions, performers, props and personnel.

Risks include (but are not limited to):

• Audience or participant dissatisfaction
• Failure to achieve event objectives
• Withholding of payments by sponsors
• Loss of reputation
• Loss of life
• Litigation against the company

The events and activation company has to manage risks by adopting a defined risk management approach. Our survey indicates that these companies face the highest risks around safety, procurement and event quality. However, only 17% of the survey respondents conducted a formal and documented risk management exercise for all events managed by them, while 61% conducted some level of risk management for their marquee events or for events with a considerable level of public exposure.

Risk management

 

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