Question 1

Managing risk is about managing the:

Accepted Answer

Managing risk is about identifying potential risks and developing strategies or plans to mitigate or eliminate those risks. Risks can impact costs, quality, and time, and managing risk means considering all of these impacts. Therefore, the best choice is C, which includes all three impacts of risk management.

Question 2

Event managers need to have an understanding of the national and local requirements of their events because:

Accepted Answer

The legalities of an event may vary from country to country, therefore event managers need to have an understanding of the national and local requirements specific to the location of their event. Different cultures and traditions may also play a role, but the legal requirements take priority in ensuring a successful and compliant event. The VIP may request something customized to their culture, but this does not necessarily relate to legal requirements. Option D is incorrect as legal requirements can differ greatly between countries.

Question 3

The risk that an event cannot be achieved because there is neither the management availability nor the inherent skills people need to do it, is called:

Accepted Answer

Management Risk is associated with the potential that a project or endeavor may face challenges or fail due to inadequacies in management or the team's skill set.

Question 4

Requirements Risk is the risk which is:

Accepted Answer

Requirements risk refers to the risk associated with unclear, incomplete or incorrectly understood requirements. This type of risk arises due to improper specification or understanding of requirements, making it difficult to ensure that the end product satisfies the project objectives.

Question 5

When a location/venue has a poor reputation this is called:

Accepted Answer

A poor reputation of a location/venue poses a psychological risk to potential patrons as they may feel unsure or uncomfortable about attending events there. Physical risk refers to the danger of physical harm, financial risk relates to monetary loss, and performance risk pertains to the uncertainty about the quality or effectiveness of a product or service.

Question 6

The traffic plan for an event usually includes:

Accepted Answer

The traffic plan for an event typically encompasses a comprehensive approach to manage the influx and movement of vehicles and attendees. This includes assessment (to understand the needs and potential issues), car parking (to accommodate vehicles), public transport (to offer alternatives to driving), event signing (to guide attendees), road safety (to prevent accidents), and weather management (to adapt to environmental conditions). These elements ensure a smooth and safe experience for everyone involved.

Question 7

The risk management of an event takes place in several linked stages:

Accepted Answer

The risk management process typically involves three main stages: assessment, evaluation, and implementation of control measures. Therefore, the best choice would be D, which includes all three stages in the correct order. A only includes assessment and evaluation, and B only includes assessment and implementation of control measures. C includes evaluation but does not specify the preceding stage, making D the most comprehensive and accurate answer.

Question 8

High-probability and low-severity risks should be:

Accepted Answer

High-probability and low-severity risks are risks that are likely to happen, but their impact is not significant. Therefore, they should be controlled rather than avoided or insured. Minimising such risks may not be cost-effective, but controlling them can help reduce their frequency and minimise their impact.

Question 9

The venue evaluation for an event usually includes:

Accepted Answer

The venue evaluation for an event usually includes location, suitability, available services, carrying capacity, and security. These factors are all important in determining if a venue is appropriate for a particular event. Location is important because it determines accessibility for attendees. Suitability refers to whether or not the venue is appropriate for the size and goals of the event. Available services are necessary for ensuring that the event runs smoothly. Carrying capacity is important for ensuring that there is enough space for attendees and equipment. Finally, security is important for ensuring the safety of all attendees and the protection of valuable equipment. All of these factors should be evaluated when choosing a venue for an event.

Question 10

Event organisers need to balance by offering:

Accepted Answer

The safety and well-being of both visitors and staff should always be a top priority for event organisers. Duty of care includes providing adequate security measures, emergency planning, and ensuring that all facilities and equipment at the event are safe and up to code. While creative work/life balance options and entertainment opportunities are important, they should not be prioritized over the safety of those attending the event. Promotional giveaways are also nice to have, but they should not be the main focus of the event.

Question 11

The risk cascade is when:

Accepted Answer

The risk cascade refers to a series of small risk events that add up and build upon each other, eventually resulting in a larger event or disaster. This can be seen in situations like a chain reaction of accidents on a highway or a series of small financial crises that lead to an economic recession. Option D is the only choice that accurately describes this phenomenon.

Question 12

In the case of the Environmental Risk, an event may fail because an element of the environment has not been properly understood, such as:

Accepted Answer

The options that include culture, attitudes, security, timing, marketing, and overcrowding all have the potential to impact the success of an event, especially in terms of environmental risk. Failing to properly understand these elements can lead to issues such as insufficient safety measures or ineffective marketing strategies that may negatively impact the event's success.

Question 13

High-severity and low-probability risks are best:

Accepted Answer

High-severity and low-probability risks are best transferred, such as through insurance, to mitigate potential impacts on the project or organization.

Question 14

The failure of an event to take place due to, say, booked entertainers or competitors not turning up, is called:

Accepted Answer

The failure of an event due to booked entertainers or competitors not turning up is an example of performance risk, which refers to the risk that an event won't be successful due to poor execution or unexpected circumstances that prevent it from meeting its objectives.

Question 15

The purpose of risk management is:

Accepted Answer

The purpose of risk management is to identify, assess and prioritize risks in order to manage them effectively and avoid or minimize their impact. It aims to help event planners navigate through the various risks and uncertainties that could potentially affect the success of the event. It is not primarily focused on calming customers or staff, nor is it directly linked to increasing sales or reputation.

Question 16

Risk tends to fall, more or less, into four groups:

Accepted Answer

This is the only option that includes "economic" and "psychological" as categories, which are both commonly considered when assessing and managing risk. The other options either have different categories or include categories that are not typically included in discussions of risk.

Question 17

The risk that an event as it is proposed can't be delivered or won't work, is called:

Accepted Answer

Technical Risk refers to the risk that an event or project might fail due to technical issues such as software or hardware problems, network issues, or system failures. It is a common risk in large-scale projects that involve new technologies or complex systems. Technical risks can be mitigated by thorough testing and quality assurance processes. The other options, Acceptance Risk, Requirements Risk, and Management Risk, are different types of risks that are not related to technical issues.

Question 18

When it comes to the various tasks of an Event Safety Officer, all events have different needs.For performers and speakers relevant security issues and needs relate to:

Accepted Answer

Performers and speakers require security measures to be in place to ensure their safety, particularly regarding their access to the venue and any special effects involved in their performance. The nature of their performance may also require specific safety measures. Communication, lost property, engagement, information, safeguarding, location, personal assistance, and emergency services may also be important, but they are not directly related to the security issues and needs of performers and speakers.

Question 19

Physical risks include:

Accepted Answer

Physical risks include danger to the public or participants, health and safety problems or crisis, crime and security difficulties. Some examples of physical risks are accidents on-site, natural disasters, security breaches, and health crises. These risks can cause harm to people and property and may have legal and financial consequences. Therefore, event organizers must assess and manage physical risks to ensure the safety and security of everyone involved. B, C, and D may be related to physical risks, but they do not cover the full scope of potential physical risks.

Question 20

The place in front of a gig audience where the liveliest activity takes place is called:

Accepted Answer

The moshpit is a specific term for the area in front of the stage where the most energetic dancing and physical activity takes place during a gig. Backstage is behind the stage and not accessible to the general audience. Front stage is a term that is not commonly used in the context of live music performances. Gig pit is not a commonly used term in the industry.

Quiz 9: Risk Management and Legalities