USING ACTION RESEARCH TO DETERMINE THE SYSTEMATIC APPLICATION OF INTERNATIONAL BEST PRACTICE METHODS AND STANDARDS IN MANAGING RISK IN EVENT MANAGEMENT
Keywords:risk, stakeholders, standards, events management, qualitative approach
All business involves assuming and managing risk, and this is particularly true of businesses involved in the staging and management of events, which are inherently risky endeavours. Event management is thus intrinsically concerned with managing various forms of risk. This study aims to identify the factors that influence best practices in managing risk during event management, and to determine the extent to which the factors contribute towards effectively managing risk in event management. More than ever before, a variety of stakeholders are expecting that event organisers will actively engage in managing risks and will do so to the extent of what can be considered reasonably practicable. A qualitative approach was undertaken for this study, consisting of ten online (virtual) semi-structured interviews with selected experienced professionals to ascertain their perspectives on managing risk in events management, and why best practice standards are often not employed. The study concluded that risk management must be an integral part of the event management process, encompassing all phases of events.
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