Certified Meeting Professional (CMP) Practice Exam

What is a key action to take when reviewing a post-event report?

1. Determine sponsor satisfaction levels

2. List all individuals who attended

3. Update revenue and expense items with current fees and costs

4. Assess competitor events

The correct answer is: Update revenue and expense items with current fees and costs

When reviewing a post-event report, one of the key actions is to update revenue and expense items with current fees and costs. This process is crucial for providing an accurate financial overview of the event's performance. By comparing the anticipated budget versus the actual expenditure, planners can identify areas where costs may have exceeded expectations or where they achieved savings. This information is vital for future event planning and helps in making informed decisions about budget allocation for upcoming events. Understanding true financial outcomes allows organizers to refine their budgeting strategies and improve overall financial management in future meetings and events. While assessing aspects such as sponsor satisfaction, attendee lists, and competitor events can provide valuable insights, they do not directly give a quantitative measure of the event’s financial success. The primary focus in a post-event review should be on the financial metrics, making the update of revenue and expense items the most critical action in that specific context.