Finance, Risk and Legal Issues in Event Management

22C9007

Bachelor

English

5.0

only summer term

1 semester

This module prepares students for the financial and risk management of business events. Learning includes feasibility studies, budgeting, basic accounting issues, risk management, occupational health and safety (OHS) requirements, relevant government acts and legal issues.  Planned or special events are examined carefully, including business events, cultural and sport events These topics are taught with specific reference to sponsorship opportunities (including fundraising), legal and moral obligations and contracts.

The module consists of four parts:

Part 1: Financial management of events: Topics in this block include forecasting finance and ROI, developing an event budget, budget control, financial ratios and financial reporting.

Part 2: Sponsorship (incl. fundraising) of events: Topics in this block include the introduction to sponsorship of events, sponsorship benefits for events and sponsors, developing an event sponsorship strategy, managing sponsorships, measuring and evaluating sponsorships, event fundraising and grant applications.

Part 3: Risk management: Topics in this block include the potential risks of events, risk management processes, occupational health & safety (OHS) and events.

Part 4: Legal issues of event management: Topics in this block include contracts, trademarks and logos, regulations/licenses/permits, duty of care, legal issues with events, event insurances.

The total workload for the module is 150 hours (see also "ECTS credit points and grading").

• Portfolio exam

The portfolio assessment consists of:

PFP1: a one-hour exam (50%) and a presentation (50%)
PFP2: a one-hour exam (40%) and a seminar paper with oral and written parts (R; 60%) 
PFP3: a one-hour exam (40%) and a written paper (60%)

Written examination: in accordance with the valid study regulations

Presentation: approx. 15-20 minutes

Seminar paper: approx. 5-10 pages/ approx. 10 -15 minutes

Written paper: approx. 10-15 pages

The requirements are specified in the relevant class.

None

Students who successfully complete this module

• understand the role of financial management in the overall management of an event.
• can conduct a feasibility analysis.
• can develop an event budget and conduct a break-even analysis.
• understand the methods of event costing and ticket pricing.
• can conduct a risk analysis.
• understand how to find a suitable sponsor for events.

Students who successfully complete this module

• can monitor and control event spending and incoming finances.
• understand the advantages and shortcomings of using a budget.
• understand the importance of risk analysis and risk management. 

Students who successfully complete this module can

• assess potential risks for events and how to mitigate them.
• analyse the financial conditions and challenges for events and analyse sponsorship (incl. fundraising) opportunities for events.
• identify the safety standards set by government bodies and the means of achieving those standards.
• understand legal issues around events and how to mitigate them.

Students who successfully complete this module can apply successful financial management to the planning and implementation of events. They deal with the importance and a suitable fit of sponsoring in the context of event management. They develop solutions for events resulting from risk analysis and risk management. They consider legal issues, potential liabilities, and associated insurance.

Students who successfully complete this module are able to explain and justify the operationalisation of research in the context of financial and risk management. They can apply research methods in this regard. They are able to explain and summarise new research findings on issues in areas such as finance and risk management and sponsorship.  

Students who successfully complete this module demonstrate effective communication and teamwork skills.

Students who successfully complete this module are able to further develop their own professional self-image based on theoretical and methodological knowledge. They recognise and assess more well-founded design and decision-making scope within the framework of financial and risk management as well as sponsoring for events. They recognise the framework conditions of professional action with regard to initial legal aspects or liabilities. They critically reflect on their professional actions with regard to social expectations and consequences.

The module is closely linked to the modules Corporate Events and Event Sponsoring as well as Financial Management.  

• International Event Management Shanghai (IEMS), B.A.

• Werner, Kim

• Werner, Kim
• Hagen, Dirk