Event Budgeting

  • The impact of short lead times in meetings and event management

    By Maria da Cunha, CTC, CMP Organizations are often focused on short-term economic planning where commitments to a meeting or event are confirmed last minute, often within 30 days of the event date. The 2008 financial crisis was a major contributor to the short lead times applied to meetings and events when inventory was readily available throughout the meetings and events industry. Business operations have also changed or adjusted to different management strategies which have resulted in short lead times…

  • Finding resourceful ways to stretch a small event budget

    Working with a frugal budget doesn’t mean you have to sacrifice style and class As economies ebb and flow, budgets for events will shrink and grow as a reflection of the times. A small budget should not be the reason why an event fails — success depends on ingenuity, resourcefulness and a little flair. The first step is to know what you have to work with. Make sure you have a budget prepared and approved by the appropriate board of…

  • Resourceful ways to stretch a small meetings budget

    Meeting planners don’t generally lack original ideas for how to wow attendees. It’s fun to daydream about having a limitless planning budget and all of the things we could do, from infamous speakers, to the highest quality of food and beverage, and holding events in the most breathtaking destination locations and venues. Now, back to reality. Many of us face small or shrinking meetings budgets, especially in the not-for-profit world. Here are a few ways that you can help stretch…

  • Food and beverage: What convention and conference centres typically do wrong

    By Jeff Dover Food and beverage is an important part of a meeting, conference or convention. Many delegates rate networking as one of or the key reason they attend, and much of the networking is done at meals or on breaks. Gala dinners can be another highlight. A facility with good food and beverage is important to event convenors when choosing a venue. For the venues, food and beverage is a key component of the offering. In some facilities which…

  • Getting noticed: Four tips planners can use for making their event RFP stand out

    Growing up, one of my mom’s adages was “there’s a time and a place for getting noticed!” This may or may not be true – but what I do know for sure is that I want the Request for Proposal (RFP) for my events to stand out to prospective venues every time. Preparing to release an RFP for an upcoming event can be an exciting time, but it can also be wrought with anxiety about how much/what information to include,…

  • Five areas to watch for reducing risk in business event planning

    By Yma Sherry The meetings and events environment has undergone a lot of change in the past few years. More and more companies are rolling out managed meetings programs to enhance transparency, gain efficiencies and save money. But, as with any bustling business division, there are inherent risks lurking in meetings and events departments. These are risks that companies cannot afford to overlook. American Express Meetings & Events took a look at meeting planners’ current awareness and behaviours around these…

  • Can event venues cancel your contract concessions?

    It feels great to negotiate concessions as part of an event contract. Concessions, by definition, are a contractual agreement where one party provides something of value to the other party in exchange for something else. In the case of the events and meetings industry, one typically sees concessions offered in a venue contract, in recognition of the event host choosing the venue to host its event. Venue contract concessions can be wide-ranging and are prioritized differently for each event. Examples…

  • Is doing more with less in events possible?

    When one does a Google search of the text “doing more with less” it comes up with 55,400,000 results, and when one further refines it to “doing more with less in events” it shows 28,200,000 results! Staggering! With my Google findings in mind, combined with my own experiences with limited event budgets, I’m writing today to offer some creative and logical ways to keep your event’s expenses down, thereby “doing more with less.” It is my opinion – well-seasoned after…

  • Celebrate Ontario 2017 now accepting applications

    Province investing in festivals and events to boost tourism and create jobs Ontario is encouraging festival and event organizers across the province to apply for Celebrate Ontario 2017 funding. Celebrate Ontario is a grant program that makes it easier for festival and event organizers to offer new and improved experiences that attract more tourists and increase visitor spending. Last year, the program supported 200 festivals and events across the province, boosting local economies. For 2017, organizers of existing large festivals…

  • Unconventional venue contracts still require conventional contract wisdom

    As revealed in my last article, there are a multitude of items that one must consider when “finding the perfect fit” between an event and an unconventional venue. The wide range of factors to be considered (which even at 30-plus items was not exhaustive!) gives credence to the importance of fully understanding the wants and needs of the event, and the capabilities and limitations of the venue, and when compared side by side – being able to discern the best…

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