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The events industry has various risks just like any other industry. Various events ranging from concerts, festivals, tradeshows, sporting events, political events and various types of ceremonies have their unique risks (Stellman, 1998). These events are usually undertaken by organizations which do event management as a business.
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The paper explores the topic in detail and especially pays special attention to the essence of risk management, through the presentation of the two sides of the debate. The paper uses examples to explain various arguments. It draws from various academic sources including books, journals and web resources.
What does risk mean in the construction industry?
In the construction industry, risk is often referred to as the presence of potential or actual treats or opportunities that influence the objectives of a project during construction, commissioning, or at time of use (RAMP, 1998).
What is the definition of risk in business?
Risk is also defined as the exposure to the chance of occurrences of events adversely or favourably affecting project objectives as a consequence of uncertainty (Al-Bahar and Crandall, 1990).
Last Update: Oct 2021
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