8/6/2019 Ch3 Feasibility

1/14

Feasibility of an Event

8/6/2019 Ch3 Feasibility

2/14

Feasibility

Despite a good Idea, Many events worldwide

have been cancelled as a result of No

feasibility or as a result of risk.

Risk management is one of the most

important concerns of the event manager.

Anything in event, if goes wrong, can be

career limiting as well as catastrophic for the

event manager.

8/6/2019 Ch3 Feasibility

3/14

Keys to Event Success

Following is the checklist developed by Ernst and

Young to check the Feasibility.

1. Is the event a good idea?

This can be gauged beforehand only by surveying

people and recording their sentiments and

enthusiasm towards the event concept/idea.

A few days before event , it has been gauged by theresponse of the people towards marketing

efforts of the organizers and the ticket sales.

8/6/2019 Ch3 Feasibility

4/14

Keys to Event Success

2. Do we have the skills?

Gauged by the involvement and commitment ofthe volunteers and the organizing team.

3. Is the host community supportive?

Survey the localities beforehand, to trace weathertheir sentiments are towards or against the

event and weather events will not hurt theirsentiments.

Especially take care about the local political groups.

8/6/2019 Ch3 Feasibility

5/14

Keys to Event Success4. Do we have the infrastructure in the

community?

Is there necessary infrastructure in place to conductthe event in least possible budget.

If the structured need to be raised for organizingthe event, are of permanent nature, involvinglarge expenditure, then what about their futurelong term financial viability.

If structure raised is of temporary nature, then

whether it can be raised and disbandeconomically

8/6/2019 Ch3 Feasibility

6/14

Keys to Event Success

5. Can we get venue at a price we can afford?

Having the huge impact on the budget and the

pricing of the event.Price mainly based upon the duration , location,

time of the year.

Higher rental cost if long time needed for settingup and dismantling the sets.

8/6/2019 Ch3 Feasibility

7/14

Keys to Event Success

6. Will the event attract an audience?

Market surveys to know the current tends.

Ask people to rank the events from the listbased upon their likings and then analyze.

Have a check of changing market demographics ,

size of new and potential markets and itsneeds and likings.

8/6/2019 Ch3 Feasibility

8/14

Keys to Event Success

7. Will the event attract media support?

Media support is essential.

Try to get your event covered by maximum no.of media partners including local newspapers,

local TV or Cable, Local magazines, etc.

8/6/2019 Ch3 Feasibility

9/14

Keys to Event Success

8. Is the event financially viable?

Montreal Olympics 1976 v/s Sydney Olympics 2000

Critical decision on what price to be charged from thevisitor or spectator, How much merchandise to

produce related with event.A careful estimation about the budget and possible

audience gathering will help in determining the ticketprice.

Also the ticket price will be determined by carefully

understanding the local markets and its perceptionregarding value for money and spending power.

Often event management company earns a fee and theclient is responsible for the cost and budget of theevent.

8/6/2019 Ch3 Feasibility

10/14

Keys to Event Success

9. Are the success criteria reasonable?

Criteria to judge the success of the event vary widely.

e.g. For Olympics , it is judged generally on thefeedback from the international audience.

The criteria for the success need to be established

before the event takes place, and against it the

feasibility of the event is analyzed.

8/6/2019 Ch3 Feasibility

11/14

Keys to Event Success

10. What are the risks?

Most Important question in the feasibility analysis of

the Event as Failures and even fiasco, are always

possible.

The way to understand and Minimize them is

conducting a Brainstorming session to detect all the

possible risks and then Ranking them.After Identifying these Potential Risks, the next step is

the contingency planning.

Lastly decide that Policies and procedures must be in

place to deal with every possible eventuality.

8/6/2019 Ch3 Feasibility

12/14

Keys to Event Success

Risks may include:- Heavy weather,

Wind/Rain

- Flooding

- Fire- Collapse of Buildingsor TemporaryStructures

- Crowd Control

- Safety and Security ofParticipants and VIPs

- Food Poisoning

- Breakdown in Powersupply /water Supply.

- Traffic Jams

8/6/2019 Ch3 Feasibility

13/14

The SWOT analysis

It is Traditional, and Important to do a SWOT analysisfor every event.

Strengths : Could include enthusiasm and commitment of

the team and volunteers, some specialized knowledge.Weakness: May be the skill and knowledge of the team

Opportunities: External Favorable things such as newsponsorships or Unexpected positive publicity

Threats: Competition, Poor Publicity, Poor crowdBehaviour.

The idea to improve the Feasibility of the event is byImproving upon strengths, Maximizing opportunities,

And Minimizing Threats.

8/6/2019 Ch3 Feasibility

14/14

EventfulThank You