Use tech to manage event risk

Here, our Managing Director, Peter Ward, uses his experience gained at London 2012 and subsequently directing WeTrack to share his ideas on the process of risk management for events, and the role of tech within it.

The risk management process is six-part:

Identify - Categorise - Record - Track - Close - Learn.

Let's break a few of those down and explore the role of tech.

Identification. Plenty of sources through which to identify risks, and tech can play an integral role!

• Prior experience (lessons learned aided by tech). Why trawl through old emails and files when you can just refer to your previous system data?
• Self-assessment (internal departments and contractors)
• Consultants and risk experts. The most serious risks can threaten to derail your event altogether, so don't skimp on what's necessary.
• Desktops and simulations / readiness exercises. Scrutinise your event's capabilities on a large scale.

Categorise. Keep it simple - by risk type, and by severity on a risks matrix. Tags etc can be loaded on top where useful.

Tracking. Here's where tech can make your life much, much easier. It can be everything you need to manage identified risks. It provides real-time updates, notifications, the ability to collaborate and record, and a full, indelible audit trail that can be reviewed after the event for any planning (or legal) considerations.

Lessons learned. What role can Machine Learning play?

• Identify trends which humans would miss
• Use AI experts in UK
• Predict hotspots in future events
• New development for events sector

So how can tech be used to enhance your risk management? We have six take-home points:

• The nature of risks doesn't change with tech
• You don't need to use technology to record and manage risk - but you'd have to work harder to ensure good practices
• Tech tools can be good for driving consistency, transparency and collaboration
• Align your risk register with your project plan for full visibility on how your risks affect your projects and tasks
• Tech is more useful the larger / more complex the event
• Be open to leveraging machine learning and AI!

According to a McKinsey study in 2017, 70% of senior managers said they were moving towards managing risk digitally. There's no reason why our sector shouldn't be doing likewise.

For more information on WeTrack's risk and issue management software for events and venues, go here:

We have also produced a comprehensive white paper aimed at helping events, venues and organisations to deal with uncertainty. Click here to read The Complete Guide to Risk and Issue Management.