Optimising surplus and managing financial risk for association events
Whether events are required to breakeven or expected to generate a profit, it is important to review how event surplus can be optimised. Routes to delivering a good financial outcome include:- Cost management and minimisation – where can costs be reduced, particularly on wasteful or unnecessary elements?
- Effective contracting – getting value for money from suppliers and no nasty surprises!
- How can delegate income be improved – what can be added to create higher spend without damaging the credibility of the event? Workshops, awards, hospitality events.
- Return on Investment – what should we be aiming for?
Ref: ACUK18/TLK-7548