A percentage of the event budget — typically 10–15% — reserved for unexpected costs.
No event budget survives contact with reality entirely intact. Contingency funds cover cost overruns, last-minute additions, price increases, and emergency supplier changes. The industry standard is to build 10–15% on top of the confirmed budget as contingency. Clients often want to minimise this allocation, but experienced event planners know it is rarely returned unused. Unused contingency at the end of an event is a welcome outcome, not a planning failure.
Deposit
An upfront partial payment to secure a venue, vendor, or service — typically non-refundable.
Final Numbers
The confirmed guest count provided to the venue or caterer by a specified deadline, which forms the basis of billing.
Cancellation Policy
The contractual terms specifying what fees apply if an event booking is cancelled, and by what date.
ROI
Return on Investment — the measurable return generated from an event relative to the total cost of producing it.
Breakeven
The point at which event revenue covers all costs exactly, with neither profit nor loss.
Event Insurance
Coverage that protects against financial losses from event cancellation, public liability, or property damage.