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Risk Management Essay

1729 words - 7 pages

Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. (Lecture notes)Risk Management is also described as 'all the things you need to do to make the future sufficiently certain'. (The NZ Society for Risk Management, 2001)
The goal for risk management in the event industry should be to allow maximum range of activities to be enjoyed in a safe environment. The golden rule of risk management is to "approach event risk assessment and risk management from the perspective of audience and participant amenity". (Lecture notes) A successful risk management is one in which risks are continuously identified and analyzed for relative importance. The problems should be prevented before it happens.
The risk management also involves the duty of care. For event managers Duty of care translate to "Taking actions that will prevent any foreseeable risk of injury to the people who are directly affected by, or involved in, the event. (Lecture notes) Thus, Events managers have the responsibility of duty of care when the likelihood of a mishap happens to event staff, volunteers, participants, performers, audiences and even the public in nearby areas that is affected by an event
Before an event being held, the risk management team has to think about the possibilities of the risks, and prepare to handle it on that day. A 1991 USA survey of event managers have identified 10 risk factors at an event. They include sale and consumption of alcohol, size of crowds, over capacity of crowds, inexperienced organizers, poor or untried communications systems, inexperienced security, dangerous or hazardous activities, weather conditions, no evacuation plan and free or uncontrolled admission.
We can take some of the examples of the risks factors that often occur in an event. Size of crowds and over capacity crowds could be under control if under good management. Event management team must think of the worst case will happened to the size of the crowds and what can they do to prevent over capacity crowds. There are normally a lot of people got faint and even died due to an over-crowded space in a certain concert. Why was it happened? Some of the concert organizers want to earn the money as much as they can. They don't care about the capacity of the people, for instance, the venue has capacity of 200 people. But they want to sell tickets to more than 200 people, and they have 20 security guards .It is still fine if the audience sitting and enjoying the music. But the thing became bad when the audience became crazy as they saw their idol singing on the stage. They jump on the chair, they push each others, and some even run towards the stage so that they can get closer with their idol. The limited security guards can't...

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