Risk management in general comprises:
- Risk Identification
- Risk Evaluation
- Risk Mitigation
Sports Event Organizers need to adopt a step by step approach for managing risks associated with organizing a sports event in India.
- Legal Compliance : compliance with local, district level, state and national level legal clearances
- Identification of safety and security hazards and adopting suitable mitigation methods
- Sports Event Insurance : insurance can be for multiple reasons like cancellation of event, fire, theft, damage to equipment / infrastructure etc.
- Audit of Sports Event Risk Management
Audit of Sports Event Risk Management : Benefits
- Gain trust of sports event attendees, sports fans and general public
- Credibility in the eyes of Sponsors, Government / Law agencies
- Peace of mind to the sports event organizer
It makes sense to do things this way.
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