HTT 607 Lecture Notes - Lecture 7: Paraplegia, Contingent Fee, Fire Extinguisher

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

Document Summary

Flat fee: set fee negotiated prior to start must be justifiable. They may not give you a benchmark and say you tell me how much it"s going to cost : need to anticipate different scenarios and the effect they will have on your time and capabilities. It can be difficult with so many changes (up until the event) with so many decisions to be made and other things to be added on to your tasks throughout the planning process. Clearly identify what they"re hiring you for (what tasks are you responsible for) Hourly fee like developing the event or execute it too: need to estimate: (cid:2203)(cid:2195)(cid:2184)(cid:2187)(cid:2200) (cid:2197)(cid:2188) (cid:2197)(cid:2203)(cid:2200)(cid:2201) (cid:2175)(cid:2187)(cid:2202) (cid:2174)(cid:2183)(cid:2202)(cid:2187) Know how many hours and how much you"ll be paid per hour. Percentage of costs: on average, 15-20% of total costs. Combination (ex. percentage of costs & flat fee: combination of fixed and costs, can include an incentive (extra motivation to hit objectives)