CERTIFIED MEETING PROFESSIONAL EXAM WITH 100% CORRECT QUESTIONS AND ANSWERS

CERTIFIED MEETING PROFESSIONAL EXAM WITH 100% CORRECT QUESTIONS AND ANSWERS Requirements for the event - CORRECT-Financial resources Human Resources Marketing & PR Resources Technology requirements Logistical requirements Event specific resources Legal or regulatory requirements Evaluation resources Sustainability resources Safety & security resources Financial summary - - CORRECT Fundamental part of your strategic plan Answers: -How event will be funded -Financial goal of event -What is the event budget -How will event respond to budget shortfalls -How will event address cash flow concerns -Which currency will be used 3 things to analyze for financial summary - CORRECT -1- Historical income and expense statements 2- Budget for best and worse case scenario 3- Do any financial decisions impact policies at an organization? (Fee for family members implies family members allowed) Monitor strategic plan - CORRECT -1- measurable objectives 2- monitoring tools and processes 3- feedback and modification processes Analysis - ANSWER-Disciplined management requires a solid foundation of data. Variety of information on past events should be collected. Planning - CORRECT -Once discovery and analysis phases are complete, development of events strategic plan begins. Mission statement - CORRECT -Defines the purpose of the organization Goals - CORRECT -Broad and general; expected to be achieved over a long term horizon. Used to achieve the mission Objectives - CORRECT -Specific and narrow and used to achieve a goal. Tie directly to evaluation measures. SMART-ER objectives - ANSWER-E - ethical R - recorded Business value - ANSWER-Not measured by only the financial bottom line, but on what outcomes are expected by the business. For some this will mean exceptional education or brand positioning. For others the value will be the quality of contacts made through networking or sales generated by the event. Event strategy - ANSWER-Involves the what and why of a meeting, which drives the how or the planning of the meeting. Strategic planning - ANSWER-Process by which an organization develops its long range plan of action Development role in strategic planning - ANSWER-Answers the question: how will we achieve our organizations mission through our meetings Implementation role in strategic planning - ANSWER-Fully understand the strategic goals for the organization and event, and then develop objectives to achieve those goals. Strategic plan - ANSWER-Long range call to action for a company 3 distinct elements of strategic planning - ANSWER-Discovery, analysis, and planning (DAP) Discovery - ANSWER-Purpose of the event, internal assessment, business environment Internal factors to determine event feasibility - ANSWER-History Financial Role of the event in the organizations finances and overall strategy Availability of Human Resources Commitment Marketing and brand considerations External factors to determining event feasibility - ANSWER-Audience Industry Economic context Applicable legislation or regulatory requirements