MPI
Be bullish when budgeting
MPI CORRESPONDENT PAUL COOK SAYS PARTNERSHIPS ARE VITAL AND KNOWING WHAT YOU’ RE WORKING WITH UP FRONT
E vent budgeting may not be
the sexiest task when it comes to planning events, but it’ s fundamental to success. It’ s time to reimagine the significance of budgeting.
There are challenges, of course, that meeting professionals must work with. Cost cutting is widespread, with entertainment and promotional products ranked as the areas that are most likely to face a trim, according to MPI’ s Q3 2025 Meetings Outlook survey.
Stretching a budget is outdated. Meeting professionals can try to do it, and it may work temporarily, but ultimately, vendors and planners suffer.
It’ s even harder now as expectations are constantly rising. Priorities like sustainability, accessibility, and inclusivity need to be budgeted for.
Reimagining a budget starts like this. Michael Fleck( MPI Southern California
Chapter), director of Synergy Effect, tells us that“ a well-constructed budget is the single most important element of the early planning stage because it forces the manager to allocate spend to every item, giving a more accurate picture of what you’ re building”. He adds:“ It then becomes the guardrail as the project progresses, letting you know when things are starting to get off track.”
Corrine Statia Thomas, CMP, a meetings and events strategist and business advisor, and the owner of Absolute Events by Corrine LLC believes that having a solid budget from the start helps you avoid overspending and gives you real power when you’ re sitting across from suppliers.
“ You can walk into those conversations, already knowing exactly what your budget is for their services,
Above: Corrine Statia Thomas
“ A well constructed budget becomes the guardrail as the project progresses, letting you know when things are starting to get off track”
rather than letting the supplier dictate the budget or lead you into spending more. Knowing what you’ re working with up front is one of those fundamental practices that separates successful events from the ones that leave you stressed and over budget!” she says.
“ For me, it always starts with listening. I want to understand my clients’ goals and what their budget looks like from their perspective. Once we’ ve aligned on what’ s realistic for their vision, I lean on the strong relationships I’ ve built with trusted suppliers. Those partnerships are everything.
“ I ask my suppliers directly,‘ Can you work within this budget?’ And if I don’ t feel confident in a particular area, I do my homework before committing to anything with a client. It’ s better to check than to overpromise and scramble later.”
Fleck advocates for maintaining a contingency fund as good risk management.
“ This is especially important in the very early stages of planning,” he says.“ Some clients resist this as they see it as increasing the budget rather than being risk mitigation.”
Kimberly Gaiennie( MPI At Large), head of events for Scrum Alliance, knows that effective budgeting does more than balance books.“ A poor budget can leave you walking into an event already in the red, but a strong budget builds stability and flexibility,” she says.“ For us, that means budgeting not only for financial return but also for community impact. We use metrics to ensure we’ re delivering value beyond revenue.”
It ' s vital to determine the budget before you begin planning an event, but it ' s also important to have the conviction to push back when expectations can’ t be met, despite stretching. Client collaboration works, but it’ s vital to be bullish on contingency funds and the budget when you need to. n
20 / CONFERENCE & MEETINGS WORLD / ISSUE 139