Risk management as a unversal embedded process

The best working definition for risk is 'possible problems' and any event professional knows that a large part of the time is spent looking for and dealing with possible problems. For many years the event teams kept the problems to themselves. The result was that mistakes were constantly repeated in events around the world. Fortunately the growth of events and the need for professionalism has led to the engineer or doctor approach to risk : making sure its management is captured so lessons are learned and the profession improved.

The introduction of the new ISO 31000 standard is a milestone for event and event portfolio management. The risk management process is used throughout the management of events and event portfolios. It is a universal process. It is the one aspect of event management overlooked by many organisations who mistake risk management for safety management. Heath and safety, as well as contingency planning, are an output of the risk management process not a substitute. The process must be embedded in all areas.

The members of the event teams across all the organisation must be trained in risk management. The risk management can not be passed onto professionals - liability for negligence cannot be transferred. It is a straightforward process that helps to protect the organisation if an unforeseeable risk does eventuate. At the same time risk management implies opportunity management. The same process is used to identify and assess opportunities.

For more information go to Events Feasibility and Development textbook, purchase the EPMSCDROM. and/or contact events @ epms.net