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Risks are involved with any activity carried out. Whether it is something related to business or anything else, everything involves a certain degree of risk. Risk management is the term which refers to the systematic and sensible method which has been used to establish the context, analyze, treat, monitor, identify and communicate the risks which are involved with any given activity. Not only does it help in identifying these factors in an activity, risk management also helps in the process or the function by helping to maximize the opportunities and to minimize the losses (Lecture notes). Risk management is also seen to be a way by which you can secure your future as it involves things which makes this possible (The NZ Society for Risk Management).
The risk management goal in the event industry is to and should be to let people enjoy a variety of activities in an environment which is as safe as possible. The very important rule associated with risk management is concerned with assessing the risks and management according to the way in which the audience and participants would perceive it (Lecture notes). For risk management to be successful, it involves identifying and analyzing risks at a continuous basis. This way the problem can be prevented from occurring before it actually does. Risk management is also associated with care. For an event manager, having a duty to care means that he/she needs to take the required action to stop any…
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