Risk Management in the Meetings Industry Elling Hamso Managing Partner European Event ROI Institute.

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Presentation transcript:

Risk Management in the Meetings Industry Elling Hamso Managing Partner European Event ROI Institute

Risk Classification PEOPLE risks - Illness - Injury PROPERTY risks - Physical property - Information - Reputation OPERATIONAL risks - Continuity - Quality

Risk Classification

Same on a graph !

Risk Analysis What is the probablility? What are the consequences? How do we manage it?

P r o b a b i l i t y REMOTE (low) OCCASIONAL (medium) PROBABLE (high) C o n s e q u e n c e MARGINAL (low) CRITICAL (medium) CATASTROPHIC (high) BAA CBA CCB Risk Assessment Matrix

Exercise 1 – Risk Assessment (A) One Day Corporate Strategy Seminar, London Conference Hotel 100 participants from USA and Europe (B)Three Day Exhibition, Copenhagen exhibition centre, 1000 exhibitors, consumer electronics, open to the public (C)Four Days Scientific Convention, Brussels convention centre, 1200 delegates from 40 countries, 300 spouses, pre- & post tours, 4 conference hotels RISK - PROBABILITY - CONSEQUENCE

Exercise 2 – Risk Management Select one incident in each of categories A, B, and C in the Risk Assessment Matrix and discuss risk management strategies: Tolerate Treat Terminate Transfer

Risk Management Strategies Tolerate (retain) Treat (mitigate) Terminate (eliminate) Transfer (by contract or insurance) 4 T’s (Dorfman 1997)

Liability and Insurance Your safety standards and company safety culture should always be better than the law! The law requires you to do all that can be ’reasonably expected’ to prevent damage – ”due care and diligence” Different types of insurance cover Cancellation Public Liability Professional Indemnity Employer’s Liability Property Etc.

Some useful websites Risk_Management_Standard_ pdf

Thank you Dr. Elling Hamso Managing Partner European Event ROI Institute Postboks 171 NO-4302 Sandnes Norway Phone: Web: Blog:

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