Week 3 Assignment | Event Audit Site Approval
You must submit a detailed description of your site selected for your Final Project: Event Audit.

Your submission should be submitted in a Word Document and include the following: 1. Name of Event 2. Dates of Event & Dates you will attend 3. Site of Event 4. Hosting Organization 5. People you have contacted in the organization regarding your project and your attendance at the event? 6. Short 1 paragraph description of why you think this is an appropriate selection. This assignment is to be approximately 1 page long. This event must be a future event between Week 1 and Week 7 of this class as you must conduct three interviews at the event as required in the directions (please see the directions for the final project/event audit due at the end of Week 7).

Financial Planning

Financial planning involves four stages pertinent to the strategic planning of sporting events. Stage I involves objectives; their organizational objectives related to the specific event and organization involved and there are business objectives where principles are in place to maximize sales, profits, and revenue generation. Stage II involves strategic decision-making. There are both short-term and long-term decisions that need to be made. Many of these decisions are made at the senior level impact how individual events are managed. Stage III involves operating decisions where pricing and budgeting are the main concerns. Stage IV involves monitoring and correction as management decisions need to be evaluated constantly and consistently to determine the right course.

Generating revenue is the primary concern for many sporting events. Determining a variety ways to generate income is essential for the sport management planning and implementation process. Some of the ways to increase exposure and the ability to generate revenue includes developing media rights and partnerships, television and radio broadcasting, press coverage, Internet broadcasting, ticket sales, corporate hospitality, and sponsorship sales.

References

Patel, A., Bosela, P. A., & Delatte, N. J. (2013). 1976 Montreal Olympics: Case Study of Project Management Failure. Journal of Performance of Constructed Facilities, 27(3), 362–369. https://doi-org.ezproxy2.apus.edu/10.1061/(ASCE)CF.1943-5509.0000332

Wilson, R. (2009). Economic impact of hosting major sport events. In S. H. Callahan, The SAGE dictionary of leisure studies. Sage UK. Credo Reference: https://search-credoreference-com.ezproxy2.apus.edu/content/entry/sageukdicles/economic_impact_of_hosting_major_sport_events/0.embed

Xiaoyan Xing, Chalip, L., & Green, B. C. (2014). Marketing a Social Experience: How Celebration of Subculture Leads to Social Spending During a Sport Event. Sport Marketing Quarterly, 23(3), 138–147.