Assessing the management of risks in the event industry and its relevance to 2010 in the City of Cape Town

Abstract

This paper illustrated what the common risks are that event stakeholders within the City of Cape Town have found difficult to manage and have regularly encountered. Research shows that Cape Town has become one of the most popular and prestigious destinations to visit, and has opened its doors to both minor and major events worldwide. Risk management plays an important role in the planning and organising of these events. Successful annual events that have established themselves in Cape Town are those such as the Cape Town International Jazz Festival, the Cape Outdoor Adventure and Travel Show, the Community Chest Carnival, the Design Indaba, Design for Living, Homemakers Expo, the Cape Argus Cycle Tour, as well as the Two Oceans Marathon and Cape Town International Kite Festival. Even though necessary Acts and legislation have been established by the South African government for event organisations, event stakeholders fail to adhere to them. Research has found that there is a limited amount of knowledge in risk management by event stakeholders.