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Risk Management in the Meetings Industry

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.

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Risk Management in the Meetings Industry

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

  2. Risk Classification PEOPLE risks - Illness - InjuryPROPERTY risks - Physical property - Information - ReputationOPERATIONAL risks - Continuity - Quality

  3. Risk Classification http://www.iccaworld.com/cnt/docs/COPEbrochure.pdf

  4. Same on a graph ! http://www.alphagroup.ch

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

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

  7. 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

  8. 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

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

  10. 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.

  11. Some useful websites http://www.copeworld.com/ http://www.iccaworld.com/cnt/docs/COPEbrochure.pdf http://www.safehotels.com/ http://www.alphagroup.ch http://www.docleaf.com/ http://www.clarityeventinsurance.com/ http://www.coverex.co.uk http://www.hse.gov.uk/pubns/indg163.pdf http://www.rmmagazine.com/ http://archives1.iomosaic.com/whitepapers/risk-ranking.pdf http://www.theirm.org/publications/documents/Risk_Management_Standard_030820.pdf

  12. Dr. Elling Hamso Managing Partner European Event ROI Institute Postboks 171 NO-4302 Sandnes Norway Phone: +47 90 12 24 18 E-mail: elling@elling.no Web: www.eventroi.com Blog: www.elling.no/blog . Thank you

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