CED Risk Management & Contingency Planning Flashcards

A speaker cancels 24 hours before a conference. The best contingency response is to:

Answer: Activate a pre-identified backup speaker or adjust the agenda

Having a pre-identified backup speaker or a flexible agenda allows the event to continue smoothly despite last-minute cancellations.

Which method helps quantify the financial exposure of a specific event risk?

Answer: Risk impact analysis

A risk impact analysis assigns monetary or resource values to potential risks so planners can make informed decisions about mitigation spending.

In risk terminology, 'risk transfer' for event planners most commonly refers to:

Answer: Purchasing insurance or including liability clauses in vendor contracts

Risk transfer shifts the financial burden of a risk to another party, most commonly through insurance policies or contractual liability clauses.

A venue's maximum occupancy limit is primarily a consideration for which type of event risk?

Answer: Safety and compliance risk

Exceeding occupancy limits violates fire codes and safety regulations, making this a safety and compliance risk that can result in event shutdown or legal liability.

Which communication tool is most effective for informing all staff simultaneously during an on-site emergency?

Answer: Two-way radio or walkie-talkie system

Two-way radios allow instant, simultaneous communication across all staff teams, which is critical for coordinating rapid responses during on-site emergencies.

An event planner discovers a key AV vendor cannot deliver equipment on time. The FIRST step should be to:

Answer: Consult the contingency plan for alternate AV vendors

Consulting the contingency plan first ensures the planner follows the pre-established escalation path and contacts vetted backup vendors without delay.