Here are some examples and some guidance on how to pick the right number of calendars for your organization. The simplest answer is that you need to purchase one calendar for each unique VIEW you want to create.
For example, you have a company with 9 departments. You would like to be able to view each department by itself or view the company as a whole. You can do this one of two ways. You can purchase a 10-calendar license and create a calendar for each department and a rollup or combined calendar for viewing the whole company. The other way you could do this is to use use one calendar and create an Event Type for each department. You could then view the calendar by Event Type to show a specific department or you could view by calendar to see all events together.
The trade-off is cost versus flexibility. Fewer calendars means a lower license fee but at the cost of being able to view your events in different ways. Here's a comparison of the two methods.
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