FEATURED PAPER
By Dr. Uzoma Francis Amaeshi
Department of Project Management Technology
Federal University of Technology, Owerri
Imo State, Nigeria
and
Donatus Chikwendu Azunna
Department of Project Management
Enugu State University of Science &Technology Business School
Enugu State, Nigeria
ABSTRACT
Events Planning/Management in Nigeria is a relatively new venture in the business scope in Nigeria. It has evolved over the years from sundry events services such as catering, decoration, rentals, bridals, photography, etc into a One-Stop or total/holistic Events Packaging/Planning. Events vendors now have to handle events as projects from start to finish. This need came as a result of desires to reduce stress associated with events planning on the parts of the celebrants. However, such holistic events planning have attendant risks associated with them. Managing such risks demands some form of professionalism on the part of the Events Manager. This work is therefore, to serve as a guide to Events Manager on the possible risks inherent in events management and also how to manage such risks.
INTRODUCTION
Project Risk Management involves managerial steps taken to avoid/reduce losses during the development and execution of projects. Every project comes with attendant risk which can be eliminated, reduced or transferred. Events Planning/Management, as it has evolved in modern times, is not an exception. Events managers record losses in the course of carrying out their projects. Therefore, this research work is focused on the steps taken by Events Managers to manage the risks involved in events planning/management.
CONCEPTUALIZATION
To avoid ambiguity there is a need to define the basic terms used in this research to suit the context under discussion.
Project:
Project can be defined as an individual or collaborative enterprise that is carefully planned to achieve a particular aim.
Risk:
Risk can be defined as unforeseen or uncertain occurrence which may hamper the successful execution of events thereby creating losses in form of financial loss or reputational dent on the on the organization.
Management:
Management can be defined in relation to management functions, which include: Planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing organizational goal.
Events:
The word “event” is derived from the Latin word “eventus” and was originally used to describe big happenings out of the ordinary (“Event,” 2009). Today, the concept of events includes a large variety of social gatherings, meetings, sports, shows, and performances. It has become a fashion to use the word ‘event’ for everything that is happening.
An event can be described as a public assembly for the purpose of celebration, education, marketing or reunion.
Vendors:
These are people or organizations that provide component services to the events manager.
Project Risk Management:
Project Risk Management is the application of management functions to avert, reduce, or transfer the effects of attendant adverse occurrences that come with projects.
Event Management:
Event management is described by Wikipedia as the application of project management to the creation and development of large-scale events such as festivals, conferences, ceremonies, formal parties, concerts, or conventions. It involves studying the brand, identifying the target audience, devising the event concept and coordinating the technical aspects before actually launching the event.
Events Manager:
The events manager is the person who plans and executes the event, taking responsibility for the creative, technical, and logistical elements. This includes overall event design, brand building, marketing and communication strategy, audio-visual production, script writing, logistics, budgeting, negotiation, and client service.
PROJECT RISK MANAGEMENT IN EVENT PLANNING/MANAGEMENT:
Project Risk Management in Event Planning/Management can be defined as the application of project management skills to avert, reduce, or transfer the effects of attendant adverse occurrences that come with the creation and development of large scale events such as festivals, conferences, ceremonies, formal parties, concerts, or conventions which involve studying the brand, identifying the target audience, devising the event concept and coordinating the technical aspects before actually launching the event.
More…
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How to cite this paper: Amaeshi, U.F., Azunna, D.C. (2021). Project Risk Management in Events Planning and Management in Nigeria; PM World Journal, Vol. X, Issue IV, April. Available online at https://pmworldlibrary.net/wp-content/uploads/2021/04/pmwj104-Apr2021-Amaeshi-Azunna-project-risk-management-in-events-planning.pdf
About the Authors
Dr. Uzoma Francis AMAESHI
Federal University of Technology
Owerri, Imo State, Nigeria
Dr. Uzoma Francis Amaeshi is a senior lecturer in the department of Project Management Technology, Federal University of Technology, Owerri, Imo State, Nigeria. His doctoral work is in Management with areas of research interest that include: Human Resources Management; Organizational Development and Entrepreneurship development. Dr. Amaeshi can be contacted at uzor1958@gmail.com.
Donatus Chikwendu AZUNNA
Enugu State University of Science &Technology Business School
Enugu State, Nigeria
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