1. Identify three negative impacts of pandemic in the production of events and explain each challenges. 2. What do you think are the challenges on turning projects into virtual? Cite three challenges. 3. How do you think events management can recover from the COVID19 crisis considering the theories we apply in project management?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
3. How do you think events management can recover from covid-19 crisis considering the theories we apply in project management?
![Question 3
30 pts
Part III Project management
Event management is defined as a well-planned and organized occasion with the view of meeting or achieving specific objectives for the benefit of person, group of people or an
organization. The professionals in this business are known as Event planners. An event can be a Celebration (festivals, weddings, birthdays, and anniversaries), Education (conferences,
graduations), Promotions (product launches, fashion shows, and conventions) or Commemorations (memorials, civic events). COVID-19 has irrupted the global markets and various
industries drastically, though innovative minds and leaders of respective fields are struggling and bringing new ways to survive in this condition. But, still the Tourism and hospitality industries
are still suffering the most. The threat of disease has homed in the minds of the people and the policies of travel, entertain and organize events by certain countries are leading a major setback and
an edge to recession for such and interlinked industries. In the recent studies around the globe, it has reported that maximum loss of about more than $666 million till April is noted in event
industry, due to cancellation of events worldwide and have 85.9 million jobs at stake. The businesses are suffering for huge capital shortage to sustain in long run through the use of technology
and measures like live chat, webinars, online discussion shows, podcasts etc. are being used by companies to continue their services but they cannot replace the revenue from big fat events or
events at large scale in terms of money and people inducement. The daily wage workers associated with the industry, the small and medium event companies who do not have the platform or
the target customers to provide such services are suffering more harshness of this pandemic
1. Identify three negative impacts of pandemic in the production of events and explain each challenges.
2. What do you think are the challenges on turning projects into virtual? Cite three challenges.
3. How do you think events management can recover from the COVID19 crisis considering the theories we apply in project management?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F156e9fab-35ba-4539-ac66-f31ddf906098%2F19c78454-7fc4-4647-9304-c05b018a4617%2Fls4uez5_processed.png&w=3840&q=75)
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