Identifying Risk and How to minimize its impact

It is important to be mindful of safety and security needs when planning an event. Risk is common in almost every activity. It surrounds us in our everyday lives. Learning how to identify, analyse, assess, control, avoid, minimize or eliminate unacceptable risks is a life skill needed by all including those in the event management business.

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The tree major categories of risks are:

It is important to be mindful of safety and security needs when planning an event. Risk is common in almost every activity. It surrounds us in our everyday lives. Learning how to identify, analyse, assess, control, avoid, minimize or eliminate unacceptable risks is a life skill needed by all including those in the event management business. Activities carried out by event managers generally have risks associated with them.

All event organizations should engage in a continual process of examination and review of their existing events to ensure that the environment is safe for participants, officials, and spectators. The process of examination becomes even more important in the planning process for new events. Failing to assess the risks involved in events can result in loss of reputation, financial loss, legal lawsuits, damage to facilities, and injury to people, and loss of equipment. In planning the event, the first step is to conduct a feasibility study of the event; the purpose being to identify and assess the benefits and the risks of the event. The feasibility study should aim to identify any risks such as the legal considerations such as permits, alcohol licensing, the environmental impact and whether the event may cause disturbances, noise, traffic congestion, and waste to communities, the risk of running a loss etc.

There also needs to be a thorough examination of risks to human safety as some events e.g. sports are inherently risky. Therefore in that case it is the vents managers’ duty and responsibility to implement plans that will ensure the safety and well being of event-goers.

 

  • project risks, technical risks, business risks
  • business risks, personnel risks, budget risks
  • planning risks, technical risks, personnel risks
  • management risks, technical risks, design risks