Event Management Report for Car Show: Risk & ROI Analysis

This report provides a comprehensive analysis of an event management plan for a vintage and modified car show, covering various aspects such as event activities, return on investment (ROI), and risk management. The plan includes detailed activities like singer performances, car displays, auctions, and test drives to attract attendees. The report calculates the expected ROI, considering expenses like advertisement, venue rent, and income from sponsorships and ticket sales, projecting a 212.26% return. It also identifies potential risks, including budget overshoots, delivery delays, and safety hazards, and proposes mitigation strategies such as financial control, schedule adherence, and safety measures. Marketing strategies using social media and special guest invitations are also discussed to ensure the event's success.

Running Head: EVENT MANAGEMENT
Vintage and Modified Car Show
Name of the Student
Name of the University

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Event Activities
As per the plan, there will be a number of different activities, which are listed below
(Eventeducation.com 2019).
 Performances of the invited singers and display of their collection cars
 Demonstration and presentation of various vintage cars
 Auction of the vintage cars that are for sale
 Distribution of stickers and photos among the kid guests
 Test drive for the interested customers
 Meet and greet with celebrity participants
 DJ performances
Return on Investment (ROI)
Return on investment is the percentage of profit that is gained on the amount of money
invested in a project or a venture. It is very important to gain a certain amount of return on
investment in order to render the project financially successful (Singh, Shrivastava and
Kambekar 2019).
The return on investment for this project is shown in the following tables.
Expenses Amount
Advertisement Costs $500
Rent of the Venue $3000
Photography $800
DJ $1000

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Transportation Costs $3000
Uniform and Other Equipment’s $800
Design Place $1500
TOTAL $10600
Income Amount
Oceania Consultancy $5800
Abhishek plumbing and Hardware $4000
Brihaspati Gahanna Pascal $5000
International Trading Group $8300
Ticket Sales and Other Incomes $10000
TOTAL $33100
Hence, the net profit from the project is $(33100 - 10600) = $22,500.
Therefore the return on investment for the project = (Profit/Investment)*100 =
$(22,500/10,600)* 100 = 212.26% i.e. the return on investment for the project is expected to be
212%.
Risk Identification
There are certain risks that can occur during the course of the event. These risks are
discussed as follows.
Budget Overshoot: One of the most common types of risk that frequently occurs in most
of the types of projects regardless of their types and other. Hence, it is also expected to occur in
this project as well. Budget overshoot can occur due to unforeseen or uncontrolled expenses or
inability of the project management team to deliver the project on time (Papadaki et al. 2019).

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Budget overshoot can cause significant damage to the project organisation by causing massive
financial losses.
Delay in Delivery: The project is for the arrangement of a particular event and hence,
meeting deadlines in the project is of utmost importance (Harris 2017). In case of delay of
delivery of the milestones and other requirements, the actual event may also get delayed, which
is definitely not acceptable for the organisation as well as the guests.
Accidents and Safety Risks: In this project, there are a number of workers who will be
allocated for field work. However, considering the nature of their work at the venue, safety
hazards may occur that will risk the welfare and health of the workers. These accidents need to
be avoided at any cost to prevent any major losses in the organisation.
Efficiency and Attracting Attendees
Attracting attendees is essential for the success of the project and specific marketing
techniques are needed to attract guests and other attendees for the event (Eventeducation.com
2019). Social media can be utilised for marketing purposes as the social media allow an
organisation to gain maximum reach.
In addition to attracting attendees with the marketing techniques, special guests also need
to be convinced to the attend the event and special gift cards can be sent to them so that they are
interested and join the event during the specific date(s).

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Risk Management
While the risks may occur in the event, it is also important to mitigate the risks by
developing appropriate risk management plan. Hence, for this project, the risk management plan
is provided in the following.
Budget Overshoot: Managing the finances of the project throughout the course of the
project is important to keep the budget in check and control (Hopkinson 2017). Without
sufficient control, additional unnecessary expenses may be done and hence, there should be a
specific spending plan throughout the course of the project.
Delay in Delivery: The team members of the project need to ensure there is no delay in
delivery of any milestone in the project. The project schedule can be developed using various
tools like Gantt chart and once the schedule is developed, it must be followed by the team
members.
Accidents and Safety Risks: Accidents and safety risks may occur anytime while working
on the project. In case of working at heights or working with electricity, the workers need to be
provided with special safety gears and equipments (Kliem and Ludin 2019). First aid camps can
also be set up in order to provide immediate medication to injured workers.

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References
Eventeducation.com. (2019). SWOT Analysis in Event Planning. [online] Available at:
http://www.eventeducation.com/event-analysis2.php [Accessed 19 Dec. 2019].
Harris, E., 2017. Strategic project risk appraisal and management. Routledge.
Hopkinson, M., 2017. The project risk maturity model: Measuring and improving risk
management capability. Routledge.
Kliem, R.L. and Ludin, I.S., 2019. Reducing project risk. Routledge.
Papadaki, D., Bakas, D.N., Karamitsos, D. and Kirkham, D., 2019. Big data from social media
and scientific literature databases reveals relationships among risk management, project
management and project success. Project Management and Project Success (September 26,
2019).
Singh, A., Shrivastava, P. and Kambekar, A.R., 2019. Financial Risk Assessment of Public
Private Partnership Project. Sustainable Infrastructure Development & Management
(SIDM), 20109.