This multinational event can help to determine not only basic risk management needs for events, but also provides insight into the specialized problems and risks that come with sporting events that are held at a multinational level.
Defining risk management for different events is one that is essential for the success of any event. The first aspect of this is known as quantitative risk management, which is understood by how much risk is at a specific event, as well as how different organizations should respond to this. Measuring the amount of risk through political and sociological concepts can provide a broader understanding of the preparation that needs to take place as well as how one can respond to this. Models that are known to assist with the risk management are able to create thresholds, which defines how much an organization needs to prepare without moving over the needed components of the models. The mixture of security measures that are taken are then able to create a better understanding of what is needed with the event to create an elimination of potential risks (McNeil et al, 7, 2005).
To effectively reach the quantitative analysis of an event is the need to understand the various factors that create risk. For instance, if the event includes a multinational component, then this will need to be a part of the risk management process. By doing this, there will be the ability to create a strategic model that will affect the way that the event is approached. The risks will then define the event through the organizing committee, stakeholders of an event and the individuals that are participating in the event either as athletes or as audience members. Creating best practices that are a part of an event and making sure that safety, security and avoidance are a part of the risk management can help to create a different response from those that are