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Meeting & Event Planning - Budgets/ Financial Management, Venue Selection, and Contract Negotiations
The course will include three modules as described below.
Budgeting: Strategic Financial Management
Will provide you with techniques and strategies to make sound financial decisions as you develop and administer budgets for your meetings or events. Learn how to analyze costs and make educated estimates of income and expenses. Become familiar with various statement formats. Learn how to accurately reconcile a master account and anticipate hidden costs that can be budget breakers. Walk away with a toolkit of established budgeting practices and cost-saving ideas that will positively impact your meeting or events’ bottom line. Relevant in-class exercises.
Site Search, Selection and Inspection
Learn how to gather important information about your participants and how to evaluate the data before beginning a search. Identify locations for different types of events and meetings, compare types of facilities and review key components used to pre-select sites to be recommended to your client. This class will prepare you to go through the process of creating an effective request for proposal (RFP). You'll receive tips and techniques on how to prepare for a site inspection and what to look for when you conduct an in-person or virtual site visit. Relevant in-class exercises.
Negotiations and Contracts Simplified
Demystify supplier contract clauses and learn how to become a better negotiator. After attending this class, you will know what's negotiable. Learn what to say and how to say it as you enter into the negotiation process. Examine the various elements of a contract and gain an understanding of complex clauses such as attrition, cancellation and indemnification and learn how to revise them. Limit the liability of your organization without yielding any of the important savings and service benefits that are vital to the success of your meeting or event. Relevant in-class exercises.