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Event management
Introduction
Event management is the application of project management to the creation and development of large scale events such as festivals, conferences, ceremonies, formal parties, concerts, or conventions. It involves studying the brand, identifying its target audience, devising the event concept, and coordinating the technical aspects before actually launching the event.
The process of planning and coordinating the event is usually referred to as event planning and which can include budgeting, scheduling, site selection, acquiring necessary permits, coordinating transportation and parking, arranging for speakers or entertainers, arranging decor, event security, catering, coordinating with third party vendors, and emergency plans.
The events industry now includes events of all sizes from the Olympics down to business breakfast meetings. Many industries, charitable organizations, and interest groups hold events in order to market themselves, build business relationships, raise money, or celebrate achievement.
Types of events
1. Private events: Private events are used for individuals who can book venues such as - Wedding - Wedding receptions - Birthday parties - Festival gatherings Private events are used for individuals who want certain guests to arrive at the venue. Private events will have a guest list to ensure the venue is not open to the public. There are a large number of private sector organizations involved in commercial activities in the events management business. Clients who are looking for a suitable venue for their event can do so themselves, which can be time consuming, or they can place their enquiry with agencies
2. Corporate events: Corporate events are used for a business to promote their companies brand
and products such as
- Ensuring team building exercises
- Business dinners
- (^) Conferences
- Networking events
- Seminars
- Product launches
- Meetings A business will use corporate events to help build professional relationships between employees which will benefit staff communication to make a business expansion. RESOURCE: ▲ Men -stage decoration, catering, lighting, sound system operator, electricians ▲ Material – flowers, carpets, decorative items, wedding merchandise. ▲ Money- cost of each tasks/activity.
DERGREE OF UNCERTAINITY:
Weather condition, more number of guests than expected, shortage of material, food etc
rank corporate events as their top most priority. As India is a rich cultural society variety of festival. So all group of people who wants to organize the event are part of this segment. Families with all categories rich, medium earner who are looking for wedding and birthday events are the segment of this group.
- Targeting:- Targeting deals with the selection of the best segment that will give more profit to the business. If we have considered the same example of food kiosk the targeted segment is middle and high income people.
- Positioning:- Positioning deals with the implementing chosen image and appeal to chosen segment. Positioning can be done with considering four things which are product, price, promotion, distribution.
SWOT Analysis: -
Strengths: -
- Highly motivated staff
- Customer friendly
- Executes plan with shoestring budget
- Superior specialized services offerings
Weaknesses:-
- Generating awareness and visibility of company in its first few year of operation is difficult.
- Obsolete conditions of expensive product are frequent
- Brand portfolio.
Opportunities:-
- Growing demand
- New markets.
- New product and services
- Support from local vendors.
- Threats
- Rising cost of raw materials
- Future completion from existing services providers competing in different but in complementary market space
- The inability to find qualified, high quality employee
Financial analysis
Financial planning is important aspects of event management which include financial planning , control and budgetary issues. The process is labor intensive and recognizes that a higher level of talent is required. The financial investment in its employees will be one of the greatest differentiators between it and its competition
Service-based businesses require little funds to start up and, as they grow and expand, less funds to maintain. This gives Occasions a quicker break-even point and increased profit margins from the start. As Occasions grows, the debt-free philosophy will be maintained until it is impossible to function during growth periods without financial assistance.
The broad activity-mix for the project has been worked out based on the analysis of the advantages associated with the project location and potential opportunities vis-a-vis prevailing demand in the market.
The products/activities for the envisaged development are derived based on following factors:
- Demand pattern for various product components/ activity types.
- Product mix of other similar facilities which are successfully running.
- Standards, guidelines and current industry practice for various activities.
- Prepare a detail checklist of activity heads.
- Plot a detailed time chart, delivery schedules that would lead to successful execution of the production.
- Pre-production work also includes completion of following tasks :-
- Designing and creation of set.
- Scripting, designing and allocating the technical production elements.
On-site production:
This includes actual execution of work on site this include
- Construction of sets
- Lighting,
- Backstage management and production,
- Coordinating with dancers, artists,
- Cueing and executing the screenplay of the act or performance,
- Shooting and online editing
- Controlling and managing multi camera setups.
Technical World at a glance:
- Lighting
- Sound reinforcement
- Audiovisuals
- SFX
- Trusting and scaffolding
- (^) Lasers
- Televised coverage/broadcasting
- Venue construction
Lighting:-
- Architectural Lighting
- Theater Lighting
- Special Effect Lighting
Venue construction:-
- On ground venue arrangement
- Drinking water
- Canteen during set up days
- Toilets
- Green rooms
- Meter room
- Cabling
- General lighting
- Gates
- Parking arrangements
- Venue cleaning and maintenance
