The Importance of Risk Profiling Every Event

Ensuring the safety and success of every event is paramount to venue and event leaders. From concerts and conferences to sporting events and festivals, no two occasions are alike, and each one carries its own set of risks. There are, however, risks that you know are well-known and important — expected crowd size, historical crowd behavior for that type of event, weather conditions and their impact travel to and from the venue, potential known security threats, and other special considerations. Good event planners consider these factors as a matter of course, but they not always so in a structured and consistent way.

This is where an Event Risk Profiler comes into play — a vital tool that helps organizations systematically assess potential risks and prepare for the unexpected when it comes to event management. 

What is an Event Risk Profiler? 

The Event Risk Profiler is a form of risk assessment that goes beyond intuition and guesswork. It provides a structured process for venues to evaluate events based on risk factors that have been problematic in the past.  For example, when large crowds are expected or if past security incidents have occurred at similar events, then risk profiler can help. If certain events typically involve high level of alcohol consumption or pose specific security threats, the risk profiler can offer valuable insights. Through a configurable questionnaire, the tool helps venue and event managers make important risk-based decisions like: 

• What key elements of the event equipment, crowd behavior, or other factors could go wrong?   

• If something does go wrong, how severe could the consequences be? 

• Overall, how risky is the entire event, and based on that assessment, what approvals are required? 

• What resources and plans are needed to mitigate these risks? 

By considering the venue’s past experiences, and building on the profiler’s configurable questionnaire, an event risk profiler takes the hunches and gut feelings that event planners already have and converts them into quantifiable metrics. These scores then form the foundation for risk-based decision-making, helping to allocate resources and put in place good operational plans to mitigate risk.  

Why Conduct a Risk Profiler for Every Event? 

Many venues still rely on informal methods of planning for risk — often shaped by past experiences when things have gone wrong.  In planning meetings, risks are typically identified and mitigated by drawing on the experiences of others, sometimes using checklists or simply relying on intuition and experience. While this approach may work for small, low-risk events, it can lead to inconsistencies and gaps in preparation for larger, more complex events, especially when new staff are involved or the event takes place at larger venues.  

Traditionally, risk assessments have been labor-intensive or avoided altogether due to concerns about something potential liabilities. However, every event, regardless of size, carries some level of risk. To mitigate liability and move beyond manual risk assessments, conducting a baseline risk profiling of the event, can help determine the level of effort required for preparation.  

With an event risk profiler, venues no longer need to rely on outdated methods or miss critical safety issues. Instead, they can confidently manage risks, enhance event safety and ensure operational success. A risk profiler helps solve these challenges by: 

1. Standardizing Risk Assessment 
   The event risk profiler ensures that all venue and event leaders are asking the right questions from the start. Whether it’s a sporting event with a rowdy crowd or a peaceful performance, this system provides a structured way to evaluate event risks consistently.
2. Empowering Better Decision-Making
   By using the event risk profiler early in the event booking process, venues can make more informed decisions about which events to host and how to plan for them. For example, if an event is flagged as high-risk due to the promoter’s history or potential crowd behavior, venue managers can allocate additional security or adjust alcohol policies to mitigate potential problems.
3. Proactive Risk Management
   Rather than waiting until an event is booked to start operational planning process, a risk profiler allows venue and event managers to start assessing risks during the initial booking. This means that the decision to host an event is informed by both financial rewards and potential operational risks. 

10 Key Benefits of Using an Event Risk Profiler 

1. Early Risk Identification: Start assessing risks during the booking process, not after contracts are signed.
2. Ensured Consistency: A standardized set of questions ensures all team members evaluate risks in the same way.
3. Enhanced Planning: Allocate resources more effectively by understanding the full scope of risks.
4. Improved Safety: From crowd control to intoxication management, the risk profiler helps address potential safety and security hazards.
5. Data-Driven Decisions: Make more informed choices based on the venue's historical data and past events.
6. Increased Operational Efficiency: Save time and effort by systematizing the risk assessment process and creating a comprehensive plan of action.
7. Aligned Stakeholders: Engage event bookers, suppliers, and other stakeholders in the risk assessment process.
8. Enhanced Organizational Awareness: Foster a culture of safety by increasing risk awareness across the organization.
9. Unified Risk Scores: Compare risk levels across events using a consistent scale to quickly identify high-risk situations.
10. Streamlined Integration: Seamlessly incorporate risk profiling into broader risk and incident management practices, enhancing operational efficiency. 

How Risk Profiling Impacts Event Booking and Financial Decision-making 

Risk profiling doesn't just influence operational planning; it has a significant impact on financial decision-making as well. When venue and event managers can assess potential risks early — before an event is booked — it allows them to weigh the financial rewards against operational risks.  

For instance, a high-risk event with a significant audience might promise great revenue through ticket sales, but if the risk of crowd violence or property damage is high, the costs of managing those risks could outweigh the benefits. By understanding both the potential profits and the associated risks, venues can make better-informed, commercially sound decisions. 

Importance of Determining Risk Capacity 

Risk capacity refers to the venue’s ability to manage potential risks without jeopardizing safety or financial stability. For example, some venues may be equipped to handle rowdy sporting events with large security teams, while others might struggle with the operational demands of such events.  

Knowing your venue’s risk capacity is crucial in deciding whether to take on a particular event. The risk profiler helps determine whether the venue can accommodate the necessary precautions to safely manage an event. 

Factors Influencing Risk Tolerance 

Every venue has a different level of risk tolerance, and several factors influence this: 

• Venue Size: Larger venues typically attract bigger crowds, which means a higher potential for incidents. 

• Event History: If the venue or the event has a track record of past incidents, such as crowd violence or heavy intoxication, this raises the risk level. 

• Reputation: A venue's willingness to take on risk often depends on its reputation — some venues may avoid high-risk events to protect their brand. 

• Financial Position: After periods of financial downturn (like post-pandemic recovery), venues may be more willing to accept higher risks to boost revenue. 

Understanding these factors allows venue and event managers to make decisions that align with their organization's risk tolerance and financial goals. 

Types of Event Risk Profiles 

Risk profiles vary based on the type of event, and each event type carries different considerations: 

1. Sporting Events: These often involve large crowds, passionate fans, and potential for crowd control issues, intoxication or even violence.
2. Concerts: The profile might assess the history of the performer, likely crowd behavior, or risks related to alcohol and drug consumption.
3. Conferences: While usually low-risk, factors like high-profile attendees or controversial speakers could elevate the risk profile.
4. Festivals or Outdoor Events: These require special attention to weather conditions, large-scale crowd management and medical response readiness. 

Each of these profiles can be customized using a risk profiler, ensuring that every event type is evaluated based on its unique set of risks. 

Overview of WeTrack’s New Event Risk Profiler Software 

An event risk profiler is now part of WeTrack’s risk and incident management software, it will revolutionize how organizations assess and manage event risks.  

WeTrack’s event risk profiler solution provides an intuitive platform for assessing and quantifying event risks. It allows customers to use customizable questionnaires to produce risk scores for events, enabling teams to easily identify and address potential risks. 

Key Features: 

• Customizable Questionnaires: Create tailored questionnaires for event organizers and team members to accurately assess an event’s risk profile. 

• Configurable Risk Flags: Set specific questions and thresholds to flag high-risk responses, ensuring risk acceptability is clearly defined. 

• Historic Risk Profiles: Share and store profiles for future reference, promoting continuous learning and improved risk awareness. 

• Track Risk Levels: Assign scores to different risk factors (e.g., alcohol consumption, crowd behavior) to quantify how risky an event may be. 

• Connect with Detailed Risk Assessment and Incident Management: Link the risk profile to a detailed risk assessment and incident management, ensuring a full overview of past risks and their outcomes to help predict future risks. 

The beauty of the Event Risk Profiler software is its flexibility — each venue can tailor it to their unique needs and event types. The solution also allows venue and event managers to share the event risk profile across teams, ensuring all staff are aware of potential hazards and necessary precautions. 

Interpreting WeTrack’s Event Risk Profiler Results with Ease 

Once the risk profile is complete, the results provide valuable insights into how the event should be managed. The event risk profiler produces a risk score and a risk level for the event.  

• The risk score is a numerical value that represents the overall risk associated with the event. 

• The risk level provides a more practical interpretation, categorizing the event as low, moderate, or high risk. 

The risk score is based on the answers provided in the configurable questionnaire, while the risk level categorizes the event (e.g., low, medium, or high risk). For instance, an event with a high risk of intoxication and crowd control issues would receive a higher risk score and trigger more precautionary measures, such as increased security staff and alcohol monitoring.  

This allows decision-makers to quickly assess whether the event requires significant operational adjustments. A low-risk event might proceed with standard staffing and protocols, while a high-risk event would demand additional resources, such as increased security, medical personnel, and more detailed planning. 

Conclusion: A Risk Profiler is a Must-Have for Every Event 

By conducting a risk profile of every event, venues can not only ensure safety but also optimize their financial and operational planning.   

WeTrack’s risk and incident management software with the event risk profiler serves as the foundation for informed decision-making. Rather than relying on intuition or experience alone, venue and event leaders have hard data to guide their actions. By understanding the specific risks associated with an event, organizations can plan proactively. It’s an essential tool for mitigating the chance of incidents and safeguarding the reputation of your venue and events. 

With the Event Risk Profiler, WeTrack continues to lead the way in empowering venues to make smarter, safer decisions for event management.