Remove Food and Beverage Remove Negotiating Remove Risk Management Remove Venues
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Money Talks: Defining an Event Budget

TicketBud

By delineating expenses across various categories such as venue, marketing, and entertainment, budgets help prioritize spending for maximum impact. Event budgets also act as a risk management tool. An early start means more time to shop around for bargains, establish partnerships and negotiate with vendors.

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Budget Financial Meetings: Doing More with Less

SmartMeetings

Overall, uniqueness and the “wow” experience were the most influential factors in planners’ selection of a venue for ancillary activities, according to the FICP’s fall survey. “As A collaborative approach will always benefit you in all aspects, including managing costs.”. Work with Partners—and Haggle. Maybe a three-hour event is 2.5

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What Is the Meetings Industry’s No. 1 Challenge?

PCMA Convene

In the 28th Annual Meetings Market Survey, respondents listed rising food and beverage costs as a major challenge. Nearly 30 percent of respondents’ answers in some way reference budgets or rising costs this year, with AV, food and beverage, and Wi-Fi expenses standing out as particular pain points. Hotel negotiations.

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What Did You Do Differently Last Year?

PCMA Convene

Better contract negotiations. We are moving to a larger venue for 2017. We have implemented a risk-management manual to our events and we have purchased more event insurance for better protection. Increase in what we budget for food and beverage, and managing other costs more closely. More outreach.

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Top 6 Event Planning Certifications To Boost Your Career

Eventtia

They work with clients to determine their budgets, choose a venue, and select vendors. You’ll learn about budgeting, venue selection, and logistics management. To get the CMP title, a person must show that they are good at negotiating contracts, planning events, managing risks, and marketing.