Event management is the application of the management practice of project management to the creation and development of festivals, events and conferences.
Event Management involves studying the intricacies of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually executing the modalities of the proposed event. Post-event analysis and ensuring a return on investment have become a significant drivers for the event industry.
Event Management is a multi-million dollar industry, growing rapidly, with mega shows and events hosted regularly. Surprisingly, there is no formalized research conducted to assess the growth of this industry. The industry includes fields such as the MICE (Meetings, Incentives, Conventions and Events), exhibitions, conferences and seminars as well as live music and sporting events.
There are a number of companies hosting and organizing events on a regular basis. These range from the small time private events to the large-scale international events. Yes, the large scales one do happen far rarer, but then the amount of returns they churn out is far beyond expectations. However, in the past there have been events that have also resulted in losses to the hosts and sponsors for varied reasons. But then, all said and done, event management is about organization and execution, and that is precisely where the money lies. Those in the field are paid for their these services.
Today, there a number of people, who have entered the field because they realize the potential of the market where demand and supply is concerned. In fact, the most profitable aspect of this field is the need for creativity. And that is how and where one earns.
The management of events calls, largely for coordination, from stage one. The first thing required is to get the orders for the event. This process is also known as pitching for an event. Usually, whether it is for small time events (birthday parties and weddings), or then for the larger ones assigned by companies (exhibitions and trade fairs), or then the international concerts; the event manager/company is asked to submit a project report, with the finances involved. On the basis of this is the assignment given to them.
Careers in Event Management
Careers in event management seem to be alluring more and more youth. In fact, even homemakers have stepped into the industry and organize small and private events in their spare time. Also, there are event management companies that that take on consultants, who work with them on a freelance basis, as and when the need arises. Thus there is a lot of scope in the field of event management. And the event manager jobs are ever increasing.
Earlier one was employed and learnt the ropes of the trade on the job. But now there are vocational courses – diploma and degree in this field. These courses provide theoretical information, which then is implemented during the internship period. And on the completion of the course, one is almost like any other seasoned event manager.
Amongst the job openings in event management are those in the following departments :
- Visualizing concepts
- Planning
- Budgeting
- Marketing
- Organizing
- Coordinating
- Executing
One can also select a few areas of event specialization that include :
- Fashion shows
- Musical concerts
- Corporate seminars
- Exhibitions
- Wedding celebrations
- Theme parties
- Product launching
