المنهج السعودي
المنهج العراقي
المنهج المصريEvent Financing - Event Management - ثالث ثانوي
LEAP Technical Conference 2023 in Riyadh, Saudi Arabia.
EVENT FINANCING, BUDGETING, & REVENUE MAXIMIZATION
As events need to be financially viable, detailed research must be undertaken into expenses such as venue hiring and staffing
How might a technology-centered event finance its technological needs
Once you have completed this lesson, you should be able to Explain the financial objectives of events
KEY TERMS Profit margin
Event Financial Objectives
Why do individuals, businesses, and governments finance events
Financial Objective: Profit
Short-term Profit
Long-term Profit
Breakeven
Negative Profit
Financial Objective: Revenue
Revenue Growth
Revenue Maximization
Financial Objective: Costs
Minimizing costs by purchasing the lowest-cost option may reduce the initial cost of purchase
Financial Objective: Cash Flow
Why is it important to keep a close eye on the costs of events
Event Financing
Decisions have to be made on how the events should be paid for, and more importantly, who is responsible for paying any bills. Often
Where would the financing for a wedding come from
Savings or Retained Profits
Investments
Sponsorship
Deposits
Bank Loans
Why do different events use different methods of financing?
Factors Affecting Event Financing Requirements
Why do many venues charge more for weddings than for other events
EXTERNAL FACTORS
Internal factors
External factors
Management Fees
Contingencies
Why is planning the financial requirements of an event difficult
Maintaining Financial Records
The Importance of Financial Planning
Monitoring Event Costs
Monitoring Revenue Streams
Calculating Ticket and Merchandizing Sales
Monitoring Cash Flow
Implementing Fraud and Control Systems
Why should event planners ensure there are effective financial management policies in place
Meeting Legal, Zakat, and Tax Obligations
Event Management Skills
Explain how you would decide how much of a provision for emergency rain covers and umbrellas would need to be included in the budget. What would happen with unsold stock
Select the most appropriate answer for each of the following: 1. Which of the following is NOT a financial objective
Why is having a contingency fund essential for an event manager
How does monitoring cash flow help in the financial planning of an event
