Budgeting Essentials Part 2

This is the continuation of the part 1. In this section, we will see how the following points affect an event budget planning for big firms.

  1. Boarding and lodging
  2. Catering and Refreshments
  3. Decoration
  4. Technical Aspects
  5. Entertainment

If, an event requires outstation people participation, then planning boarding and lodging can cause headache for administration department of any big firms. This is because, a not only hotel booking needs to be done, but also at a competitive rate. Also, the hotels should not be very far from the event venue. Further, the hotels or guest- houses should be such that it creates a good image for the company.

Room service, food, and other services should be efficient. In such cases, the administrative department needs to call up each and every hotel or guesthouses and seek their service portfolio, negotiate rates etc. It is better then, to give the entire task to event planning firms. For, apart from event management, they can provide such services more professionally and efficiently. The event planning firms, in general, have a nexus of business partners not only nationally but also internationally.

The event planning firms can get you a competitive rate and can help in image boosting activity for your company.

Catering and Refreshments - the best event planning firms, always, seek a guest list or a list of delegates from the event organizing company. After seeking that the event planning firms, creates a database of people keeping these factors in mind:

  • Where are they coming from?
  • What is the main food or the best cuisine in that country?
  • What is the person's designation and probable income?
  • What is the age of the person?
  • Any allergic disease or any such disease that requires low fat consumption for his diet etc.

The above question then guides the event planning firms to frame delicacies for delegates. The food that is served need not include all the cuisine of the world. Neither it should reflect taste of a particular delegate. But, it should be a mixture of some cuisines that can serve the purpose of a course or a menu.

Food and Beverages, when laid on the table, should signify that the event hosting organization has kept all the delegates in mind and their tastes. This is a useful for all the event -planning firms, to research on their clients and his business associates. Budgeting for the above, event planning firms must ascertain the actual cost on per plate basis and keep provision for more plates, in case.

Event venue decoration is something that must reflect the event theme. The arrangement of furniture should be such that enough empty space is there. For a long meeting and planning session, keeping some empty space provides a relief to the tired minds. Green plants or better indoor air purifying plants and usage of pastel colors brings a sense of smoothness and politeness. Interiors decoration is given very much importance by all event planning firms, as they know that the participants should not feel claustrophobic and have proper aeration.

A fair of the event budget is spend on decorating the event venue. For events like trade fair, where numerous small or big companies create their own stalls, it is important to give a uniform look to entire venue. Hence the event planning firms must put an effort to synchronize decoration of individual outlets with the main purpose of the event.

Technical Aspects influence an event budget tremendously. Apart from lights, fan, air conditioners, refrigerators, technical devices like microphone, video camera, computing devices, movie screens, projectors, video conferencing devices, fax machines and others needs to be arranged. For that, usually the venue management authorities provide some of the basic facilities. But other than that, equipments need to be brought. The event planning firms should therefore prior to the event day, arrange and check all the devices.

Entertainment cost is something, which is optional. Since, provision for some entertainment is always welcome in meets that takes more than 2 days, event planning firms keeps this option open in their event plan. Companies can bear this cost, provided this creates a good brand mileage and exposure in the minds visiting delegates.

The factors above are thus needs to be ascertained pertaining to each event, and planning for budgetary allocation should be done by firms.

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