ABSTRACT
Creating a budget for an event is probably the most important action an event organiser or venue manager will undertake. The budget is essential to the overall success of an event and is an important part of not just controlling an event, but deciding whether to go ahead with it in the first place. This chapter explains where budgets come from, how they are developed and created, as well as some simple calculus that will help determine whether they are achievable or not. Budgeting can be a bit like looking into a crystal ball: there are no rights or wrongs at the time of creation as nobody can see the future. A budget which is impossible to achieve can be damaging to morale and cause stress and loss of staff. Venues offer both a product, the space and its facilities, and a service- client handling, service standards, professional event management.
