Practical Events Management Lecture Three: Forecasting and Planning for Events

Lecture Overview Forecasting for Events Forecasting for Events Why Forecast? Why Forecast? Forecasting Techniques Forecasting Techniques Defining Planning Defining Planning The Planning Process The Planning Process Event Mission and Vision Event Mission and Vision Event Objectives Event Objectives Understanding the External Environment Understanding the External Environment Understanding the Internal Environment Understanding the Internal Environment Event Roles Schematic Event Roles Schematic

Forecasting for Events forecasting can be defined as predictions, projections, or estimates for future events or conditions in the environment in which the organisation operates” (Kreitner, 1998:217)

Why Forecast? Pictures the market Pictures the market Is there demand for the event? Is there demand for the event? Predicts what may happen Predicts what may happen How many people might attend the event? How many people might attend the event? Identifies possible problems Identifies possible problems What are the main issues surrounding the event? What are the main issues surrounding the event? May open up other avenues May open up other avenues You may be able to identify potential follow up events or new event ideas You may be able to identify potential follow up events or new event ideas

Forecasting Techniques Outcomes based Outcomes based Time series analysis Time series analysis Causal analysis Causal analysis Qualitative research Qualitative research Demand and demographics Demand and demographics

Defining Planning In it’s simplest form, the planning process consists of establishing where an organisation is at present, where it is best advised to go in the future and the strategies or tactics needed to achieve that position. In other words it is concerned with end results and the means to achieve those results” (Bowdin et al 2006:115)

The Event Planning Process Development of event concept or intent to bid Feasibility study Decision to proceed with bid Rejection/acceptance of bid Decision to proceed with new event Establishment of organisational structure Strategic plan Implementation of strategic plan Decision to cease

Event Vision and Mission Vision – all about long term direction Vision – all about long term direction EventScotland EventScotland Our 2020 vision for Scotland Our 2020 vision for Scotland Scotland established as the perfect stage for events. Scotland established as the perfect stage for events. Mission – how the vision will be delivered Mission – how the vision will be delivered EventScotland EventScotland To develop a portfolio of events that delivers impact and international profile for Scotland. To develop a portfolio of events that delivers impact and international profile for Scotland.

Event Objectives Detail how you will achieve your mission Detail how you will achieve your mission They should be SMART They should be SMART Specific Specific Measurable Measurable Achievable Achievable Realistic Realistic Time Bound Time Bound They may be concerned with issues such as: They may be concerned with issues such as: > Event Growth > Economic Benefit > Event Quality > Tourism Development > Event Sustainability > Social Benefit > Sector Development > Educational Development > Audience/Participant Satisfaction > Community Development

Understanding the External Environment Environmental scanning should be conducted to gain an understanding of the environment in which your event will operate Environmental scanning should be conducted to gain an understanding of the environment in which your event will operate PESTEL analysis PESTEL analysis Political Political Economic Economic Socio-cultural Socio-cultural Technological Technological Environmental Environmental Legal Legal Other factors to take into consideration may include: Other factors to take into consideration may include: Demographics Demographics Physical environment Physical environment The competition The competition

Understanding the Internal Environment An internal scan should be conducted to identify strengths and weaknesses of the event and how these will affect your ability to deliver it. An internal scan should be conducted to identify strengths and weaknesses of the event and how these will affect your ability to deliver it. It will also help you to identify opportunities that your event could capitalise on and threats that could undermine the event or elements of it. It will also help you to identify opportunities that your event could capitalise on and threats that could undermine the event or elements of it.

Event Roles Schematic Project Manager Project Manager Chair the Project Management Group Chair the Project Management Group Oversee all areas of the event Oversee all areas of the event Work with team members on their specific area of responsibility Work with team members on their specific area of responsibility Finance Manager Finance Manager Manage the event budget Manage the event budget Manage all income Manage all income Manage all expenditure Manage all expenditure Present post-event accounts Present post-event accounts Programme Manager Programme Manager Drive the programme for the event Drive the programme for the event Music, Acts, Talent, DJ’s, Models etc Music, Acts, Talent, DJ’s, Models etc Dressing of the venue Dressing of the venue Marketing and PR Manager Create and manage event marketing plan Secure sponsorship and manage relationships with sponsors Identify key stakeholders and manage approach Media management (print, radio, TV, internet) Production/Logistics Manager Create running order for event, including programme and infrastructure Order all required equipment Booking and management of event venue Oversee the build and de-rig of the event

Remember, failing to plan is planning to fail!!!