HTT 607 Lecture Notes - Lecture 7: Critical Path Method, Fixed Cost, Meeting And Convention Planner

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTT 607
• Professor: Judy Healy

Document Summary

Flat fee set fee negotiated prior to start: need to anticipate different scenarios and the effect the will have on your time and capabilities. Hourly rate paid for every hour dedicated to planning/executing the event: need to estimate number of hours x set rate, similar to flat fee but allows flexibility to make adjustments by both parties. % of costs 15-20% of costs: should include a minimum charge incase costs go down. Critical path essential planning tool (a list) Milestones absolute date something needs to be done before affecting other tasks (domino effect). Detailed timeline of all the tasks to be completed. To keep team members clear on whose doing what. To keep team on track to reach goals. To keep manager aware of what the teams doing. To show what it takes to run an event. Read the report summary to help understand what changes took place. No history look at comparables, vendors, colleagues.