Understanding risk management

No matter the nature or size of your event, your event will have risks and hazards. It is your responsibility as the event organiser, to identify and manage these.

Event organisers can effectively manage risks by anticipating, understanding and making sensible decisions on how to manage and control risks.

This process is called risk management and in order to know what risks need to be managed, a risk assessment needs to be conducted.


Why does an event need to manage risks?

Event sites and activities are considered to be places of work and there are industry acts, regulations standards and guidelines that event organisers should be developing their procedures in accordance with these documents.

There are also high penalties for failure to comply with the regulations and the risk of an event site being shut down by Worksafe for non compliance.

And of course, no one wants to see anyone hurt or have a bad experience at their event.

If you manage the risks and know the regulations, then damage to property or injury to the public can be avoided.

Other reasons for ensuring your event takes risk management seriously:

  • improve your businesses resilience and capability

  • compliance with legal and regulatory requirements

  • stakeholder trust and investment

  • loss prevention

  • improve incident management

  • accurate financial projections

  • reduction in insurance premiums and claims

  • accelerates the turn around of approvals for permits.

The City of Greater Geelong takes risk management and the safety of the community seriously. When we entrust public space to an event organiser, this in on the basis that a relevant risk assessment will be undertaken and that the event organiser are intent upon managing a compliant and safe work place and is equally intent on protecting the public and the asset.


How does an event assess and manage risks?

To start with, you should have a risk assessment and management framework in place from the beginning of the planning stage through to the delivery and pack up of the event.

Your framework should have processes in place and a culture that integrates the events risks into the events planning, management, reporting and training elements. You can then manage risk by anticipating, understanding and making sensible decisions on how to control the risks. 


What is a definition of risk?

Risk is a concept. The concept of risk combines an understanding of the likelihood of a hazardous situation occurring with an assessment of the hazards impact.

What is risk management?

Risk management is the identification, assessment, and prioritisation of risks followed by a planning process that minimises, monitors, and controls the probability or impact of these risks.

The strategies to manage risk typically include transferring the risk to another party, avoiding the risk, reducing the negative effect or probability of the risk, or even accepting some or all of the potential consequences of a particular risk.


What is a risk assessment?

A risk assessment is the process of identifying and quantifying the probability of a harmful effect to an item or an individual.

To assess risks, an objective evaluation of the risks are considered and ranked by using a basic formula of rating the potential loss and the probability of occurrence. 






Page last updated: Friday, 18 October 2019

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