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Risk Management in the Meetings Industry
Elling HamsoManaging Partner
European Event ROI Institute
Risk Classification
PEOPLE risks- Illness- Injury
PROPERTY risks- Physical property- Information- Reputation
OPERATIONAL risks- Continuity- Quality
Risk Classification
http://www.iccaworld.com/cnt/docs/COPEbrochure.pdf
Same on a graph !
http://www.alphagroup.ch
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) B A A
C B A
C C B
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 websiteshttp://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
Thank you
Dr. Elling HamsoManaging Partner
European Event ROI InstitutePostboks 171
NO-4302 SandnesNorway
Phone: +47 90 12 24 18E-mail: elling@elling.no
Web: www.eventroi.com Blog: www.elling.no/blog
.
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