23:44
Faizan
The value of a performing and enough budget in an event can't be overemphasized. But sadly, this is where most event organizers fall short. More often than not, expenses are not really under estimated, but rather, there are numerous costs that have been overlooked while drafting the budget table. Why are these costs overlooked in the first place? It all boils down to very poor planning and management. Budgets are often cut towards the tail end of the event set-up and execution; thereby sacrificing quality and quantity of material and manpower resources.
In a concert event, for illustration, because of budget constraints, the number of security assistance personnel was trimmed down. Thus, during the concert event itself, people became restless at the gates due to gatecrashers and people cutting in line. Due to the lack of security personnel, there was not enough manpower to handle and manage the crowd, which then led to a stampede. Yes, more often than not, event organizers tend to cut down on the essentials, like manpower. In doing so, the more important things are compromised.
Budgeting is one of the components in event planning and management where committing a big and major mistake is not an option. In order to prevent this, here are some costly items in event planning and management that should be given utmost consideration:
Speaker Travel Expenses
The best, credible, and most suitable speakers for your event may not at all times be available in your locality, city, or sometimes, in your country. Airfare, accommodation and other travel expenses are important costs that need to be allocated on your budget plan.
Audio Visual Expenses
This would comprise your sound and speaker/ PA systems, microphones, which includes laptops and/or computers, LCD projectors, LED screens, wifi or internet connection, and other devices or paraphernalia need to give your audience a clear and audible audio visual presentation.
Shipping Charges
Mailing invitations, cost of freight and transportation in transporting equipment from one event location to another, ordering of materials like brochures, premium souvenir / giveaway items - these are some of the shipping charges that you incur.
Handouts
Cost or design, layout, and printing of handouts, brochures, modules, flyers, and other print paraphernalia should be well allocated for in your budget. These print materials are your participants' guide or take home resource materials, thus it should be presentable, readable, and well-printed.
In a concert event, for illustration, because of budget constraints, the number of security assistance personnel was trimmed down. Thus, during the concert event itself, people became restless at the gates due to gatecrashers and people cutting in line. Due to the lack of security personnel, there was not enough manpower to handle and manage the crowd, which then led to a stampede. Yes, more often than not, event organizers tend to cut down on the essentials, like manpower. In doing so, the more important things are compromised.
Budgeting is one of the components in event planning and management where committing a big and major mistake is not an option. In order to prevent this, here are some costly items in event planning and management that should be given utmost consideration:
Speaker Travel Expenses
The best, credible, and most suitable speakers for your event may not at all times be available in your locality, city, or sometimes, in your country. Airfare, accommodation and other travel expenses are important costs that need to be allocated on your budget plan.
Audio Visual Expenses
This would comprise your sound and speaker/ PA systems, microphones, which includes laptops and/or computers, LCD projectors, LED screens, wifi or internet connection, and other devices or paraphernalia need to give your audience a clear and audible audio visual presentation.
Shipping Charges
Mailing invitations, cost of freight and transportation in transporting equipment from one event location to another, ordering of materials like brochures, premium souvenir / giveaway items - these are some of the shipping charges that you incur.
Handouts
Cost or design, layout, and printing of handouts, brochures, modules, flyers, and other print paraphernalia should be well allocated for in your budget. These print materials are your participants' guide or take home resource materials, thus it should be presentable, readable, and well-printed.
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