Event Management – Planning on a Budget

You may think that just because you are on a strict budget or have a limited amount of funds available that it is impossible to arrange and host a successful event. This is certainly not the case. With the proper planning, event management on a budget will be just as – if not more successful than many other events.

During your event planning, you will have to ascertain where and how you will be able to cut costs in order to stay within your budget. Event management does not need to be a stressful affair and you should certainly not try to do all the event planning on your own. You simply must enlist a number of team members into your event management team and if possible assign a number of team leaders to delegate various tasks to other individuals. These tasks may include a team to organise a venue and catering, one to ensure the media is informed and the event is marketed to the public properly. One event management team can source the MC for the event and any guest speakers you may want to include, another can sort out the attendee list and so on.

Each event management team can also be given the task of preparing the budget they may need for their aspect of the event. The budget is basically an estimate of what each event management team expects the cost of their assigned task to be. A great way to reduce costs is to really “shop around” and get a number of quotes. Compare your quotes in relation to what value you will be getting for your money. If one quotation is really cheap and you get what you asked for, and if another is a bit pricier but they include a number of extras you will then have to decide which would be best for your budget and needs.

You should also determine how much of the event management work or tasks can be done by your own team which will save you a great deal of money. This is because you will not have to outsource the work to another company. Examples of tasks may include flower arranging, cleaning up afterwards, gifts for delegates and so on.

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