Event Management
in Sports, Dance and
Games
At the end of this course, the
students should be able to:
• Gain a solid understanding of financial
concepts and principles as they apply to
event planning and execution.
At the end of this course, the
students should be able to:
• Learn how to create detailed budgets
that account for all anticipated
expenses and revenues associated
with an event.
At the end of this course, the
students should be able to:
• Explore various revenue streams for
events, including ticket sales,
sponsorships, merchandise, and grants,
and learn how to maximize these
sources.
At the end of this course, the
students should be able to:
• Acquire skills in cost control and
expense management to ensure events
stay within budget while maintaining
quality.
At the end of this course, the
students should be able to:
• Learn how to maintain accurate
financial records and prepare reports
that provide transparency and
accountability.
What Is an
Event Budget?
What Is an Event Budget?
An event budget is a financial roadmap for
your event. It helps you organize your
projected expenses and revenue so you can
effectively manage your resources and stay
on track to achieve your event goals.
Categories within your event
budget may include:
• Fixed costs
Fixed costs are expenses that stay the same
regardless of how many attendees join your
event. These may include your venue rental,
entertainment, and event registration software
fees.
Categories within your event
budget may include:
Variable costs
Expenses that vary according to your attendee
count are called variable costs. Examples
include food and beverage and event staff
costs.
Categories within your event
budget may include:
Revenue
The money you expect to make from your event
is your projected revenue. Common sources of
event revenue include ticket sales, sponsorships,
and exhibitor booth fees.
Categories within your event
budget may include:
Profit and loss
The profitability of the event depends on the
number of attendees who show up. To determine
how many attendees you’ll need, you may add a
section to your budget that summarizes your
projected expenses and revenue for different
potential attendee counts.
Planning your budget
Planning your budget ahead of time prevents you
from overspending and sets realistic expectations
for how much money you can afford to allocate
to different areas of your event.
Planning your budget
Better prioritize which aspects you’d like to
spend more on. For example, if you find that you
have to choose between a larger event venue or
an upgraded catering package, you can make an
informed, data-backed decision based on which
is more important to your team.
Planning your budget
Developing a clear event budget also helps you
measure your success at the end of your event. In
reality, your actual revenue and expenses will
likely differ from what you projected, but these
benchmarks help you determine whether you
generated more or less revenue than expected and
adjust your budgeting strategy accordingly for
future events.
Planning your budget
An event budget is a necessary tool for
managing your event finances and making
careful decisions during the event planning
process.
How to Plan Your
Event Budget?
How to Plan Your Event Budget?
One of the key challenges for planners is
managing expenses and revenue sources to
achieve the financial goals set by your
organization.
How to Plan Your Event Budget?
A budget provides a detailed forecast of your
event’s finances. It helps you manage your
spending and expectations by outlining exactly
what you’re spending on (including fixed costs
and variable expenses), your predicted revenue,
and how much revenue you need to earn to meet
your goals.
How to Plan Your Event Budget?
This applies whether you’re creating a
corporate event budget, trade show budget,
conference budget and even sports budget.
How to Plan Your Event Budget?
When you begin event budget planning, focus on
determining which items represent expenses and
which are sources of revenue that can help cover
costs. You’ll also need to distinguish between
fixed and variable costs to effectively forecast a
budget for your next event.
Plan Your Event Budget in 7 Steps:
Step 1: Set financial goals for your event
One of the first steps for every event planner is
preparing an event profit and loss budget and
predicting as accurately as possible if the event will
result in a profit, loss, or break even. However,
determining what financial success means for your
event depends on the type of event and objectives.
Plan Your Event Budget in 7 Steps:
Step 1: Set financial goals for your event
Although you won’t be able to forecast all
expenses and revenue from the beginning—
and some of these could even change during
the planning process—it’s vital to plan your
budget with consideration for the most
common expenses and revenues.
Plan Your Event Budget in 7 Steps:
Step 2: Determine your fixed and
variable costs
As part of your event cost breakdown, it’s
critical to differentiate between fixed costs
and variable expenses.
Plan Your Event Budget in 7 Steps:
Step 2: Determine your fixed and
variable costs
Fixed costs are costs that do not change based
on the number of attendees. These costs are
calculated as a total amount.
Plan Your Event Budget in 7 Steps:
Step 2: Determine your fixed and
variable costs
Variable costs are event expenses that change
based on the number of attendees. These costs
are calculated on a per-person basis.
Plan Your Event Budget in 7 Steps:
Step 4: Create an event budget
proposal
An event budget proposal is a document or
presentation you’ll put together to convince
stakeholders at your business to sign off on.
Plan Your Event Budget in 7 Steps:
Step 4: Create an event budget
proposal
If the budget is already put together and
projected for the event, the budget is more than
halfway through creating a solid budget
proposal the your event.
Plan Your Event Budget in 7 Steps:
Step 4: Create an event budget
proposal
Event Budget Proposal should include:
1. The stated purpose and goals of your event
2. Data about past events you have hosted
3. Information about similar industry events
Plan Your Event Budget in 7 Steps:
Step 4: Create an event budget
proposal
Event Budget Proposal should include:
4. Contingency plans for your budget
5. Potential overages for your budget
6. Information on how you will measure and
report ROI on your event
Plan Your Event Budget in 7 Steps:
Step 5: Calculate cash flow for your
event
To calculate your cash flow, add up all your
revenues and subtract the uncollected accounts
receivables (money that is owed to you for
services/work performed). This is your cash on
hand before expenses.
Plan Your Event Budget in 7 Steps:
Step 5: Calculate cash flow for your
event
If you then subtract all of your accounts payable
(money you owe for services/work provided to
you) from that number, you will have your cash
on hand. If the number is positive, you have a
positive cash flow.
Plan Your Event Budget in 7 Steps:
Step 5: Calculate cash flow for your
event
Cash Flow Calculation
All Revenues – Uncollected Accounts Receivable = Cash on
Hand Before Expenses
Plan Your Event Budget in 7 Steps:
Step 5: Calculate cash flow for your
event
Cash Flow Calculation
Cash on Hand Before Expenses – Accounts Payable = Cash on
Hand
Plan Your Event Budget in 7 Steps:
Step 5: Calculate cash flow for your
event
Cash Flow Calculation
Starting cash is the amount of money you have
readily available at the start of any given period.
Plan Your Event Budget in 7 Steps:
Step 6: Review and track your
event budget
Not all expenses can be forecasted and your
budget will likely change during the event
planning process. This makes it crucial to review
and track your budget as you go.
Plan Your Event Budget in 7 Steps:
Step 6: Review and track your
event budget
If possible, arrange a meeting with the financial
officer to review the format of your event budget.
This will help ensure that you’re in good shape
before continuing the event planning process.
Plan Your Event Budget in 7 Steps:
Step 6: Review and track your
event budget
Confirm in advance who would have the
authority to spend beyond the approved budget.
Contingency fund will come in handy when
dealing with unplanned expenses.
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
First, go back to your success measures and
benchmarks that you set before your event to
determine if you were successful.
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
The emergence of new technologies has
enabled planners to measure the overall
performance of an event in multiple ways.
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
Using qualitative and quantitative event data
you are better able to quantify the performance
of your event and show impact.
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
Return on Investment (ROI) is a performance
measure used to evaluate how successful your
event was.
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
Additional options for you to measure non-
monetary business impacts that will help you
calculate your event ROI, for example:
• Social Listening
• Event Surveys
• Event App Insights and Engagement
• Sponsor Recognition
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
Event Management Platform that offers
advanced analytics to enable calculate the event
ROI where you can track:
• Attendance numbers, both on a macro and micro level
• Traffic to specific sections of the platform
Plan Your Event Budget in 7 Steps:
Step 7: Analyze your event’s
financial performance
Event Management Platform that offers
advanced analytics to enable calculate the event
ROI where you can track:
• Attendee interest, engagement, and actions
• Content viewing duration (including sponsored and non-
sponsored video views, banner clicks, and more)
Understanding the
Role of Sponsorships
Understanding the Role of
Sponsorships
In a sponsorship, two key players work together
to generate revenue: The sponsor and the
sponsee. Each player has a unique role and
responsibility.
The Role of the Sponsor
The sponsor is typically a well-established
business entity with a considerable marketing
budget, looking to increase its brand visibility
and reach.
The Role of the Sponsor
They are the party providing funds, resources,
or services in exchange for access to the
marketing potential offered by the sponsee.
The Role of the Sponsor
Sponsors usually make an investment with the
expectations of gaining returns in the form of
increased customer engagement, expanded
market share, or improved brand recognition..
The Role of the Sponsor
Sponsors select their sponsees strategically
based on brand alignment, audience size, and
potential for exposure.
The Role of the Sponsor
Example:
A sportswear company might sponsor a popular
sports team, thus gaining access to the team's
large and engaged fan base. As part of its
responsibilities, the sponsor ensures that the
terms of the sponsorship deal are met—like
timely payment and
provision of resources—and
that ongoing communication
with the sponsee is maintained.
The Role of the Sponsee
The sponsee, in many cases, is an individual,
team, event, or organization seeking funding or
support. They offer advertising or promotional
opportunities to the sponsor in return for
sponsorship.
The Role of the Sponsee
The sponsee's responsibilities include fulfilling
the terms of the sponsorship deal. This can
entail displaying the company logo at events,
promoting the brand on social media, or even
wearing branded attire during public
appearances.
The Role of the Sponsee
They might have to provide regular updates or
status reports on how the sponsorship is helping
them and any analytics, showing the sponsor's
return on investment.
The Role of the Sponsee
By fostering a successful relationship with
the sponsor, a sponsee can secure ongoing
sponsorship deals or even increase the scope
of their current sponsorship package, leading
to more resources, support, and exposure.
The Role of the Sponsee
The sponsorship revenue model is a partnership,
with each party—the sponsor and sponsee—
playing crucial roles and sharing corresponding
responsibilities. It is through these
interdependent roles that the model thrives,
generating a steady flow of income and
increased brand exposure.
What are the Factors to consider in
Sponsorship Revenue?
1. Market Reach
A paramount factor when considering a
sponsorship revenue model is the market
reach of the sponsored party (also known
as the sponsee). Essentially, market reach
refers to the size, as well as the
characteristics, of the
audience that interacts
with the sponsee’s
brand or content.
What are the Factors to consider in
Sponsorship Revenue?
1. Market Reach
The sponsor should carefully evaluate the
demographic and psychographic attributes
of the sponsee's audience or customer
base. This includes considerations on the
age, income, interests, and other factors
that describe the
audience.
What are the Factors to consider in
Sponsorship Revenue?
1. Market Reach
A broader market reach typically increases
sponsorship revenue due to the enhanced
visibility it provides to the sponsor’s brand.
What are the Factors to consider in
Sponsorship Revenue?
2. Brand Alignment
Brand alignment, also known as brand fit
or brand congruence, is another
significant factor to consider.
What are the Factors to consider in
Sponsorship Revenue?
2. Brand Alignment
Brand alignment refers to the synergies
between the sponsor and sponsee’s brand
values, image, perceived quality, and
target markets.
What are the Factors to consider in
Sponsorship Revenue?
2. Brand Alignment
The closer the alignment between the two
parties, the more likely that the audience
will perceive the sponsorship as authentic
and relevant.
What are the Factors to consider in
Sponsorship Revenue?
2. Brand Alignment
This, in turn, can facilitate higher engagement
and a better return on investment for the
sponsor.
What are the Factors to consider in
Sponsorship Revenue?
2. Brand Alignment
There is also less risk of the sponsorship
damaging the reputation of the sponsor's
brand if the alignment is strong.
What are the Factors to consider in
Sponsorship Revenue?
3. Expected Outcomes
It is crucial for both the sponsor and the
sponsee to clearly define the expected
outcomes from the sponsorship deal.
What are the Factors to consider in
Sponsorship Revenue?
3. Expected Outcomes
Typically, sponsors aim for outcomes such
as greater brand awareness, improved
brand image, or increased sales.
What are the Factors to consider in
Sponsorship Revenue?
3. Expected Outcomes
The sponsee, on the other hand, generally
aspires to gain financial resources and
increased publicity. However, expected
outcomes can greatly vary based on the
specifics of the deal.
What are the Factors to consider in
Sponsorship Revenue?
3. Expected Outcomes
Prior to finalizing the sponsorship
arrangement, both parties should agree on
the projected outcomes, how to measure
success, and what actions will be taken if the
sponsored activities fail to generate the
expected results.
What are the Factors to consider in
Sponsorship Revenue?
3. Expected Outcomes
This will ensure that both the sponsor and
the sponsee understand their respective
obligations and responsibilities, hence aiding
smoother execution of the sponsorship deal.
END