When conducting a large trade show meeting and event planners deal with all kinds of risk
and crisis issues. Risk and Crisis Management are just to components that they must deal
with. Risk Management is defined as “the process of identification, measurement, control,
and minimisation of risks to a level commensurate with the value of the assets protected.”
Risk Management encompasses at least four components of risk as it relates to an event.
•Strategic Risk (the purpose of the event and how to launch it)
•Operational Risk (how to handle incidents)
•Financial Risk (profit from event)
•Hazard Risk (fires, floods, injuries)
Crisis Management is having a disaster recovery plan in place to address what happens
during a crisis and in the immediate hours thereafter. The whole premise is having a plan
to expect the unexpected. A detailed chain of command and open line of communication
with all that are involved to make sure plans are being enacted for recovery and to sustain
the brand and reputation of the event.