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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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slide1

Risk Management in the Meetings Industry

Elling Hamso

Managing Partner

European Event ROI Institute

risk classification
Risk Classification

PEOPLE risks - Illness - InjuryPROPERTY risks - Physical property - Information - ReputationOPERATIONAL risks - Continuity - Quality

risk classification1
Risk Classification

http://www.iccaworld.com/cnt/docs/COPEbrochure.pdf

same on a graph
Same on a graph !

http://www.alphagroup.ch

slide5

Risk Analysis

What is the probablility?

What are the consequences?

How do we manage it?

slide6

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

slide7

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

slide8

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
slide9

Risk Management Strategies

4 T’s (Dorfman 1997)

Tolerate (retain)

Treat (mitigate)

Terminate (eliminate)

Transfer (by contract or insurance)

slide10

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.
slide11

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

thank you
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