How to Control Costs for Your Meeting or Event
Make your boss happy by knowing your budget before you start planning your business meeting or event, and then stick to it. Follow these tips to help you control costs:
Avoid surprises when renting a facility or working with vendors by getting all agreements in writing.
Build a 10 percent contingency into your budget to accommodate unexpected expenses.
Check all invoices against written quotations.
Question all charges that don’t seem to compute.
Limit the number of people authorized to charge items to your master account at the facility.
Review hotel accounts daily to avoid major surprises on the final bill.
Don’t sign off on any bills until you are totally satisfied.
Keep an eye on hidden expenses such as overnight shipping, taxes, or overtime charges.
Watch out for currency conversions when planning meetings overseas.