No Need



[Name of the Writer]

[Name of the Institution]

[Title]

Diversity, in broader terms, refers to the concept of different people living or working together at the same place. This difference may encompass many aspects like race, color, caste, creed, nationality, religion and even gender (Cascio, Cascio, & Nambudiri, 2010). Diversity may refer to the people living in some specific geographical area, or individuals unique in their social and physical characteristics working at the same firm, more commonly known as workplace diversity. Workplace diversity is people from different backgrounds, races, cultures, nationalities and even religions working together in an organization, for the well-being and prosperity of the company.

A lot of work is being done in the area of diversity. One of such efforts is a video titled “Diversity Challenges - What Would You Do?” by Media Partner Collections ("Diversity Challenges - What Would You Do?” 2009). The video gives a great insight into a large firm that has adopted diversity very welcomingly and does not discriminate at all between any employee on the basis of race, gender, nationality, and even disability. A potential new employee goes to this firm to be interviewed and is amazed to see the diverse culture there. Being a newbie and a little bit of conservative mind, he looked down upon every different employee working at the company.

However, the perspective provided by most of those employees were quite different than his thinking. They were still very welcoming and generous towards him, although, knowing his prejudice behavior. I would like to offer the position to Alex because although he is showing a little discriminatory behavior, people tend to change and he seems like a flexible person. Moreover, his qualifications and experience depict that he will prove to be a valuable asset for the company. Only his attitude or behavior can come in the way of his getting this job, in my eyes. The first diversity insight that I have got through this video is that only the performance of an employee should be the highest criteria for hiring and promoting an employee. No matter a person is black or white, performance should be the highest scale for judging any employee in any organization. The second insight is that always keep a positive attitude towards your life and work. Even if your employee is showing some discrimination, treat them with humbleness and kindness; it will help significantly in changing their behavior.

References

Cascio, W. F., Cascio, W. F., & Nambudiri, R. (2010). Managing human resources: Productivity, quality of work life, profits. New Delhi: Tata McGraw Hill Private Ltd.

Diversity Challenges - What Would You Do?. (2009). Retrieved from https://www.youtube.com/watch?v=n6kUaDp5FVU

No Need

[Name of the Writer]

[Name of the Institution]

[Title]

Employee development and training is an essential part of the growth of the company, as well as the employee themselves. It is one of the most important investments that any organization can make, as an employee is the most important asset of an organization (Cascio, 2016). Various organizations adopt multiple training strategies to equip their employees, with the necessary skills and knowledge, so that they could be prepared for the challenges of the modern world. A recent blog in this respect proved to be of extreme benefit for me, as it summarized the various methods of training and how to choose the right method(s) to cope up with the current training needs in the organization, as well as the business world.

The blog carried the title” 5 Popular Employee Training Methods for Workplace Training” and it encompasses all the important aspect of the training techniques that are required for successful and fruitful training of the employees CITATION And18 \l 1033 (Andriotis, 2018). The piece of writing also focuses on the need for training and how an effective training program can be developed in order to bring out the best capabilities in the employees and polish their skill. The blog highlights two types of training techniques; one the orthodox one or the old training strategies the other one as the new or modern techniques of training. In addition to this, the blog also throws light over the facts that which training strategy will be effective in what situation and how it can be determined that whether to use the modern-day techniques or the old techniques of training.

One of the well-known organizations that I personally know is Apple Inc. Apple Inc. has a very unique and diverse training program and it develops its training strategies with great care, in order to fulfill the current training needs. It uses a combination of both modern and old training strategies to equip its employees with the much needed latest knowledge and to polish their skill set.

References

BIBLIOGRAPHY \l 1033 Andriotis, N. (2018, December 27). 5 Popular Employee Training Methods For Workplace Training. Retrieved from eLearning Industry: https://elearningindustry.com/how-choose-training-methods-for-employees

Cascio, W. F. (2016). Managing human resources. McGraw-Hill.

No Need

[Name of the Writer]

[Name of the Institution]

[Title]

Employee orientation and onboarding techniques are very essential and effective practices that are carried on by all good organizations to introduce the newly inducted employees to the company.

Components of the Employee Orientation or Onboarding Techniques:

Although all the parts of an employee orientation play a crucial role in making a new employee comfortable in the new organizational setup, some of the components garner more importance than others (Brown, 2007). These components are as follows:

The New Job Description:

Job description is the main concept that needs to be explained during an orientation session as it the set of duties the new employee has to perform. For instance, a new accountant hired for the job will be introduced to the job duties he or she is going to perform in the new role.

Organizational Culture:

The second most important component of an employee orientation process is the introduction of the newly hired worker to the organization culture or environment of the new workplace, to make them comfortable in the new setup. For example, the introduction of a new employee to the events held in the company, can be taken in this regard.

Role of HR in Employee Orientation:

Human resources do not only play an integral part in the recruitment and motivation of the employees; its role in terms of employee orientation is also very crucial. It is the duty of the HR department to make sure that a newly hired employee acclimates quickly to the new culture and environment of the company (Cascio, 2016). For example, it is the duty of the human resource department to provide the necessary resources, tools, and checklists to a newly hired employee to enable him or her to make a confident entry into the organization.

Role of Line Managers in Employee Orientation:

Line managers also play a critical role in the orientation of a newly hired employee, in collaboration with the human resource department. As the line manager is the primary or the first person, to whom the newly inducted employee is going to report, it is very much essential for them to take part in the process and explain the policies, procedures and job descriptions to the new worker. Example of the contribution of a line manager in the orientation process may be taken in the form of a line manager explaining the job description and soft wares used for the completion of various projects in the department, a recently hired employee.

References

Brown, J. (2007). Employee orientation: Keeping new employees on board. human resources. about. com/library/weekly/research/nuc042102a. htm, 20(02), 2014.

Cascio, W. F. (2016). Managing human resources. McGraw-Hill.

No Need

Effective teaming

Author name

Affiliation

When people work to attain the common goals teams are formed. Teams can promote problem-solving and have positive synergy and are the source of people motivation to obtain a certain goal. People learn from each other and their feelings of belongingness to increase their efficiency. However, not all teams are efficient and result in synergy. Different barriers are present that need to overcome to become an effective team. This paper will discuss different strategies that can be used to overcome the barriers to effective teaming as well as the actions that would improve team performance. 

Teams are formed to share the burden of responsibilities among different people. For example, in cross-functional teams, there are different members with different specializations. They are part of a team to assist in their area of specializations ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"PutdhKUi","properties":{"formattedCitation":"(Wheelan, 2014)","plainCitation":"(Wheelan, 2014)","noteIndex":0},"citationItems":[{"id":2328,"uris":["http://zotero.org/users/local/KZl8ZL3A/items/43NZA4IA"],"uri":["http://zotero.org/users/local/KZl8ZL3A/items/43NZA4IA"],"itemData":{"id":2328,"type":"book","title":"Creating effective teams: A guide for members and leaders","publisher":"Sage Publications","ISBN":"1-4833-9099-3","author":[{"family":"Wheelan","given":"Susan A."}],"issued":{"date-parts":[["2014"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Wheelan, 2014). However, not all members of teamwork equally. There must be clear communication of responsibilities to team members to increase the effectiveness of the team. It is also essential to assign roles and responsibilities to members according to their interest and specializations so they can perform well ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"tRoOi4rC","properties":{"formattedCitation":"(Lorinkova & Perry, 2017)","plainCitation":"(Lorinkova & Perry, 2017)","noteIndex":0},"citationItems":[{"id":2329,"uris":["http://zotero.org/users/local/KZl8ZL3A/items/A2IHQGCL"],"uri":["http://zotero.org/users/local/KZl8ZL3A/items/A2IHQGCL"],"itemData":{"id":2329,"type":"article-journal","title":"When is empowerment effective? The role of leader-leader exchange in empowering leadership, cynicism, and time theft","container-title":"Journal of Management","page":"1631-1654","volume":"43","issue":"5","author":[{"family":"Lorinkova","given":"Natalia M."},{"family":"Perry","given":"Sara Jansen"}],"issued":{"date-parts":[["2017"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Lorinkova & Perry, 2017).

Moreover, team members must understand the importance of working collectively. They must not give preference to their personal interests to team collective interests. In this way, they will achieve the purpose of team formation. In addition, effective communication is essential for effective teaming. Poor communication result in breakdowns that impede team progress. If members are not communicating effectively they will not understand team requirement and will not be able to attain the team purpose.

Similarly, teams are formed of members of different personalities. Team member’s attitude also matters a lot in its effectiveness. There are some team members who have dominating personalities. Their arrogant behavior affects teams and reduces their efficiency. When this result in disagreement then there are conflicts in teams. These must be managed timely when they arise. One way of this can be the equitable participation of team members as it will improve their effectiveness.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Lorinkova, N. M., & Perry, S. J. (2017). When is empowerment effective? The role of leader-leader exchange in empowering leadership, cynicism, and time theft. Journal of Management, 43(5), 1631–1654.

Wheelan, S. A. (2014). Creating effective teams: A guide for members and leaders. Sage Publications.

No Need

[Name of the Writer]

[Name of the Institution]

[Title]

Organizations, in the current times, try to maintain a high level of perceived justice and fairness in their working environment, so that the employees can remain satisfied and work whole-heartedly for the achievement of organizational goals. Another thing that is ensured by the management of all the good organizations is procedural justice. Procedural Justice refers to processes and the procedures adopted to ensure justice and fairness in an organization. The idea of procedural justice is usually employed in the resolution of disputes and allocation of resources, within a company (He, Zhu, & Zheng, 2014).

The laws and regulations prevailing in a country also provide various opportunities for an employee to raise his or her voice if they feel that they are being mistreated or unfairly at their workplace. These opportunities or ways adopted to claim against this unfair treatment, against oneself, is known as work due process. Another practice that is adopted by the organizations and the employees equally to ensure a smooth running of the business is the ethical decision making about the behavior. Every employee, from the top management to the lowermost staff tries to maintain such behavior which works in the best ethical interest of the organization and maintains goodwill in the society regarding the company (Cascio, 2016). Procedural justice and work due process are similar in the sense that both are designed to provide justice to the employee and are beneficial for the employees. The only difference between these two practices is that procedural justice is provided by the organization itself while the employee has to take help from the outside sources, like courts and labor unions, to get justice.

Apple Inc. is a very prominent name in terms of facilitating its employees to the highest levels. It also ensures that its employees are served with the maximum amount of fairness so that employee retention can be optimized. Apple Inc. provides maximum procedural justice to its employees by designing and implementing such policies that ensure ethical practices at the workplace. The practices also ensure that an optimum level of ethical decision making is achieved so that both the organization and the society can benefit from them. For example, if an employee is facing an issue of discriminatory comments from a fellow employee, he or she can head straight to the human resource department and report it, without any fear.

References

Cascio, W. F. (2016). Managing human resources. McGraw-Hill.

He, H., Zhu, W., & Zheng, X. (2014). Procedural justice and employee engagement: Roles of organizational identification and moral identity centrality. Journal of business ethics, 122(4), 681-695.

No Need



[Name of the Writer]

[Name of the Institution]

[Title]

Effective recruitment strategies are an essential need in today’s dynamic business environment. They enable an organization to hire the right kind of talent for carrying out their activities and fulfilling the goals and objectives of that organization (Cascio, 2016). In order to give an insight about effective recruitment practices and strategies, Paige Garner has penned down an excellent blog for Technology Advice, which has been titled “8 Employee Recruitment Strategies to Improve Your Hiring Process” CITATION Gar18 \l 1033 (Garner, 2018).

The blog encompasses eight major strategies that can be adopted by any organization, to bring an improvement in its hiring process and recruiting talented resources for the organization. The first and foremost method is inculcating technology in the recruitment process and using social media. Moreover, another popular method of recruitment can also be used while recruiting the employees for an organization that is college recruitment. The writer also thinks that bringing an improvement in the method of interviewing the candidates will also help significantly in attracting good talent towards the organization. This improvement also constitutes in re-modeling the interview structure and the techniques. The company may also keep an outlook for passive candidates and contact them in order to let them know that the company needs their expertise.

My favorite organization, Apple Inc. applies some of these intelligent recruitment strategies to hire the right kind of candidates for their company. They announce a pre-recruitment or pre-selection criteria, which describes the complete job description of the post to be announced. Apple Inc. conducts multiple recruitment events to attract the potential candidates towards the vacancies recently announced in the tech giant. One of the major events conducted by Apple Inc. is the college recruitment process, where a team of experts from Apple Inc. goes in different colleges to attract such students who are recently going to graduate.

References

Cascio, W. F. (2016). Managing human resources. McGraw-Hill.

BIBLIOGRAPHY \l 1033 Garner, P. (2018, July 17). 8 Employee Recruitment Strategies to Improve Your Hiring Process. Technology Advice.

No Need



[Name of the Writer]

[Name of the Institution]

[Title]

Employees are the most important and valuable asset of any organization. They take the organizations to heights and create a good name in the market due to their performance and hard work. It would not be wrong if it is said that employees are the building blocks of any company or organization (Noe, et. al., 2017). But if the right kind of HR strategies are not applied and implemented, the situation may become worse. In fact, it can take the profits, production and the reputation of the company down, all at once.

In order to hire the right kind of talent and then retain it in the organization for a longer period of time, various intelligent and successful strategies are required to be designed and implemented by the HR department of the organization. Some of these strategies have been listed in an excellent piece of writing present on 1training.org in an article titled as “10 Strategies for Effective Human Resource Management” (("10 Strategies for Effective Human Resource Management - 1Training", 2018). This article intricately explains the importance of the role of HR department in the life of an employee and each and every employee working in an organization and how it can leave a positive impact on the attitude and behavior of that employee.

As per the article, some of the best strategies that can be adopted by the HR department are keeping the employee on the top priority of the company and by keeping the lines of communication clear. By keeping the lines of communication straight and clear, the HR department makes sure that the concerns of employees reach them or the right person properly and the employees also feel valued. These Strategies can be applied in the selected organization SAS, by the mutual corporation of the employees and the HR department. Moreover, SAS can also incorporate various reward schemes so that the employees get motivated and perform better.

References

10 Strategies for Effective Human Resource Management - 1Training. (2018). Retrieved from https://www.1training.org/10-strategies-for-effective-human-resource-management/

Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.

No Need



[Name of the Writer]

[Name of the Institution]

[Title]

The dynamics of business are changing rapidly all over the world. The global business scenario has seen many changes in the past some decades as compared to any another period of time in history. This rapid modification has been observed due to the increase in the innovations and development in technology and the introduction of the latest techniques in the production of their units. An example of such a dynamic and fast-paced organization is SAS, which focusses on the well-being of its employees and developed various strategies to promote a healthy culture among its workforce.

Attitude refers to the internal and underlying beliefs or perceptions regarding any specific concept, object, or values on the basis of which an individual designs his or her behavior. Various organizations adopt multiple ways in order to promote positive beliefs and attitudes in their employees so that a positive environment can be created (Cascio, & Boudreau, 2010). A positive environment at workplace automatically leads towards the happy and motivated employees, which lead towards better and healthy results in the organization. SAS is also one of those organizations, which believes in the promotion and maintenance of a healthy workplace environment so that it can shape up a positive attitude and instill a creative mindset among its employees (Video Case Study, 2013).

The best way the management of a company can instill positivity in its employees is by adopting non-discriminatory processes. A company should try to be an equal opportunity employer and provide equal chances to everyone to portray their skills and talent for the organization. The HR department of a company can also contribute in this respect. It can help in creating and maintaining cultural fit in the company, which will develop an air of mutual understanding and respect among the employees. It can also encourage the employees to report any misconduct, whether it happens with them or they witness it happening with some other employee.

References

"Human Resource Management at SAS". YouTube, 2013, https://www.youtube.com/watch?v=utMy2RiM9wA. Accessed 5 May 2019.

Cascio, W., & Boudreau, J. (2010). Investing in people: Financial impact of human resource initiatives. Ft Press.

No Need



[Name of the Writer]

[Name of the Institution]

[Title]

Performance management is a very important component of every organization’s life cycle. It is a process designed to evaluate the performance of each and every employee of the organization, and make sure that the activities and results of every action of an employee are completely aligned with the goals and objectives of the organization (Van Dooren, Bouckaert, & Halligan, 2015). It includes the setting of goals, standards, and benchmarks, coaching the employees, collecting feedbacks and then documenting appraisals. Performance management at one of the best organizations, Apple Inc., is very much close to an ideal performance management system, which is driven by culture and values.

Managers working in the human resources departments of any organization can bring an improvement in their performance management systems in multiple ways. The first and most effective method is to provide regular feedback to the employees. There should be regular providence of the response to the employees regarding their performance and behavior at the workplace, whether it is negative and positive. Moreover, human resources should make sure that the discussion of the appraisal starts with the appraisal form of the employee. This approach can help in the improvement of employee performance on the basis of actual data collected from their daily routine.

One of the best qualities of an ideal performance management system is that it is relevant, valuable and beneficial for the manager, employee and the organization as a whole (Cascio, 2016). It is widely accepted by the employees of the organization and can be used in the long term development of the employee. A manager can bring all these qualities in a performance appraisal by encouraging discussion by the employees. Moreover, the employee should be given credit where it is due. For example, an employee has shown commendable performance throughout the course of the performance appraisal, so he or she should be appreciated whether in terms of verbal appreciation or in the form of monetary compensation.

References

Cascio, W. F. (2016). Managing human resources. McGraw-Hill.

Van Dooren, W., Bouckaert, G., & Halligan, J. (2015). Performance management in the public sector. Routledge.

OCBC Bank Case Study

OCBC Bank Case Study

[Name of the Writer]

[Name of the Institution]

OCBC Bank Case Study

Management and Development

The approach of OCBC towards talent management and development is to organize the staff members/employees goals with how they learn and communicate or interact. OCBC operates very closely with its employees to make sure they can excel within their career by their program which is named as “Career Best”. OCBC contributes to success at building a career inside the organization. OCBC does it through working closely with employees and managing their ultimate goals (Govindarajulu, & Deily, 2004). In the program, manager determine their strengths and capabilities to know and find that what suits them and organization the best.

In addition, OCBC propose well-designed development program. It would take three years to get completed because this offers a clear pathway for managers to know their employees and how they perform in their initial three years. As well as allows them to bring improvement in their capabilities and capture opportunities in the group.

Comparing Talent & Management Development to another Organization

The first organization, I am much familiar with is McDonalds. At McDonalds I have noticed that manager value their employees like loyal customers. McDonalds use the same approach like OCBC. When it comes to employees, managers of McDonalds follow other to be replaced the any of the employees promotes or retires. Assisting employees and specially those which you consider as competent and capable for your position ensure that productivity would remain the same and positive if the person takes your position (Rasins, Franze, & Russell, 2007). McDonalds trains it employees for around two weeks for the new position and ensure that how they would work and perform each tasks at the new supervisory position. The major benefit of this training is it is paid. During a period, I saw two employees promoted to manager from crew who were working at McDonalds since few years (Rasins, Franze, & Russell, 2007).

How OCBC’s Approach Contributes to Success

OCBC completely relies of its employees so employee management and development approach of OCBC is a fundamental contributor in the organizational success. The major reason behind the success of every organizational is success or employees because the better and enhanced productivity of employees lead organization towards success.

The HR department of OCBC focuses on when to hire employees, whom to hire and how to train. The HR management arrange for a link between organization’s strategic planning and implementing those plans for achieving organization’s success. The main concern of management should be to ensure that how to train employees. Training employees properly eliminate weak decision making processes and enhances the productivity level (Noe, et.al, 2017). Effective training of employees is also mandatory because employees acquire how to proceed, lead and how to follow the actions to reach the ultimate potential.

Evaluation of OCBC’s Approach to Other Organizations, Industries, with Limitations

The step taken by OCBC employees’ development and management can be found highly suitable when compared with others but making changes would be beneficial to best fit with the organizational objectives. The organization has financial, technical, and other resources to generate with their type of employee management and development. The best things needs to have at hand is the plan for every employee. It is crucial because plan covers both organizational and personal goals of employees which motivates them to stay strong, act accordingly and work as guided by the organization (Noe, et.al, 2017). Even though, everyone is different than each other, so one would prefer to have a plan while other may be interested to work as presented to them.

How OCBC has Performed Recently. What has it done more of, less of, or differently from in the Area of Human Resource Management.

In the recent days, OCBC has taken a completely new and different step which has not yet taken by any other similar organization in the market and industry. The step is the Bank support employees by talking with their families regarding the issues they face. OCBC has established Single family program for this purpose. Through the program, organizations help employees in resolving the problem which may impact their mental health and productivity level (Garrow, & Hirsh, 2008). Proceeding, the organization ensures the enhanced productivity of employees by eliminating all possible issues or problem that affects them and their productivity inversely.

References

Garrow, V., & Hirsh, W. (2008). Talent management: Issues of focus and fit. Public Personnel Management, 37(4), 389-402.

Govindarajulu, N., & Deily, B. F. (2004). Motivating employees for environmental improvement. Industrial management & data systems, 104(4), 364-372.

Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.

Rasins, L., Franze, I., & Russell, S. (2007). A systemic approach to career development at McDonald's. Organization Development Journal, 25(3), P31.

OCBC Bank Case Study

OCBC Bank Case Study

[Name of the Writer]

[Name of the Institution]

OCBC Bank Case Study

Introduction

Overseas-Chinese Banking Corporation is a group of businesses that were born out of three different banks. It wouldn’t be wrong to say that OCBC is one of the oldest Singapore banks that was founded in 1912. OCBC is a multinational banking and financial services corporation. (Putting the 'person' in personnel, 2015).

Talent Management and Development

OCBC has a unique and innovative approach to the employee talent management and development that is lining up the business goals with the learning of employees. It directs OCBC to help its employees in building a career parallel to learning. Moreover, OCBC works in close coordination with its employees by becoming a structural head for their career development. An example of this fact is, "Career Best” that was started in 2002 and it helps employees to build strong professional framework. It facilitates employees to evaluate their strengths (Putting the 'person' in personnel, 2015). Structured Development Program is another example of talent management and development by OCBC that is valid for employees during the first 3 years of their service. Moreover, OCBC also uses different online media in the education and learning of the employees' such e-learning and online tutorial’s (Putting the 'person' in personnel, 2015). Moreover, the initiation of long term and short-term plans and program also decipher positive and unique approach of OCBC for talent management and development taking into account that all these actions and propositions play a central role in the career building of employees (Putting the 'person' in personnel, 2015). These approaches and initiatives are also unique because career development while being employed let employees use their learnings and learned objectives to use them for the success of the bank because employees practice their leanings within the bank and it ultimately helps bank to grow and get empowered in all dimensions of profession (Putting the 'person' in personnel, 2015).

Comparing OCBC’s approach to talent management and development with other organization

The approach of OCBC to talent management and development is similar to OMA (Open Mashup Alliance). The nonprofit organization, OMA always try to encourage and motivate its employees to learn more and train them with positive reinforcement so as to retain and build talent. It is observed that the employee retention rate is much higher in the company and the credit ultimately goes to the company (Putting the 'person' in personnel, 2015). OMA tries to look for someone who is capable of addressing the requirements of a job along with the motivation of co-workers to work more. This company also offers training for the first 2 weeks of paid training. Evaluation and employee satisfaction is also a prime concern in the company as the company uses performance evaluation plan to evaluate the working of employees and get to know the areas in which improvement is required. Although OCBC is facilitating its employees on a significant edge, still there are some strategies that are also used by OMA to help its employees to grow both educationally and professionally (Putting the 'person' in personnel, 2015).

Another example that can be compared with OCBC is USAA Federal Savings Bank. It is observed that there is a huge difference between the working of the banks and approach towards employees. There is no evidence and visible platform or scheme that can be seen to retain and train employees. In fact, the stance of having fewer assets are imposed in different ways to the working of employees (Munusamy, et al. 2019). Moreover, the case of OCBC is clearly an employee’s-oriented framework but USAA is more customer-oriented rather than employee-oriented. It is found that USAA also encourages employees in the form of incentives and rebates but there is a gap between the training of the employees so as to train them in such a way that they can upgrade their knower and utilize their knowledge for the strength and progress of the bank (Ye, et al. 2019). There is no doubt that the bank is providing excellent services to the military employees and it has incorporated several ways to retain its customer but the notion of treating employees like OCBC is not found.

OCBC Approach to talent management a key to success

OCBC approach to talent management and employee development is one of the major factors that contribute to the success of the firm because the policies and active talent management and development approach is much unique and different as compared to other banks and companies (Putting the 'person' in personnel, 2015).

According to Ong, “By aligning employees’ learning objectives with business goals, we help employees succeed in building a career and not just a job with OCBC.” (Putting the 'person' in personnel, 2015).

It is a clear depiction of the policy framework that they differentiate OCBC from other organizations and industries. OCBC has rolled out different initiatives to empower employee’s empowerment such as the strengthening of internal communication. Moreover, OCBC has identified and cultivated different promising leaders that not only train employees in terms of skills and attributes but it has also facilitated employees to incorporate work-life balance to mitigate professional and organizational depression (Putting the 'person' in personnel, 2015). Different programs such as Future Leader Program and Executive Development Plan is another initiative that highlights the approach to employee development as a primary contributor to the success of the company. OCBC also encourages its employees to be a stakeholder of their career by getting themselves enrolled in “Career Best” Program that was launched in 2002 and is still working to help employees evaluate their strengths with adequate career orientation. OCBC learning-3 is also an example of the initiates that are taken by the company to ensure the development of employees. E-learning is another unique approach that is used by the company for the education of employees and it is one of the hallmarks of success of the company (Putting the 'person' in personnel, 2015).

OCBC approach to employee talent management and development fitting other organizations

OCBC’s approach fits many of the organization and industries because there are a lot of organizations who actually care for the employees along with the care of their customers. It would not be wrong to say that “Employee satisfaction and care” is one of the standards for the success and welfare of any large comapny. So, it is asserted that other organizations also have the same standard for the progress and of the employees as well as the company (Putting the 'person' in personnel, 2015). Companies such as BB&T, AXA and Generali Group share the same approach to monitor new employees and initiate sessions and training to ensure that the employees are well prepared to perform with excellence. There are no evident limitations that are found while analyzing and reviewing the policies and frameworks of these organizations but it is agreeable that OCBC has a comparatively different approach for the satisfaction, learning, and development of the employees (Putting the 'person' in personnel, 2015).

Conclusion

OCBC is one of the organizations that is termed as one of the world’s strongest bank for the second year straight. There are several attributes that are associated with this bank such as risk management and a disciplined approach towards employees. OCBC gives special attention to its employees in terms of retention, educational development, and talent management. Initiation of different plans and platforms play a major role in educating employees and making them a resourceful part of the organization (Munusamy, et al. 2019).

References

Munusamy, A., & Assim, M. I. S. A. (2019). PSYCHOLOGY HARDINESS AND PSYCHOLOGY WELL-BEING OF BANKING SECTOR EMPLOYEES AND MODERATING ROLE OF COPING STRATEGY. e-Bangi, 16(1).

Putting the 'person' in personnel. (2015). Linkedin.com. Retrieved 28 September 2019, from https://www.linkedin.com/pulse/putting-person-personnel-sunil-chhanwal

Ye, S., Zhu, Y., & Lu, E. (2019). The Innovation of Retail Banks in the Cross-Border Payment Fund Transfer System: Take OCBC as an Example. Modern Economy, 10(05), 1479.

Organizing HR Projects

Organizing HR Projects

Jasmine Williams

[Institutional Affiliation(s)]

Author Note

Organizing HR Projects

The Organizing of Human Resource is the cornerstone of the success of any enterprise, big or small. Manpower is always raw unless it is put to good use. Often, we find that successful venture fails due to lack of appropriate allocation of resources required in the various departments of a company. Over time, we are witnessing our company decline due to lack of several factors. We will be restructuring these factors from scratch to make sure that our company does not bear any more loss. We will be doing a complete overhauling of the system to prevent the budget from taking any further hits. This plan will provide a complete analysis of the new strategies that we will be taking in the future for the betterment of this organization.

Strategic Planning and Portfolio Agreement

Studying Human Resource Management is a scientific study that requires a scientific method to evaluate the shortcoming that occurs in an organization CITATION Kij19 \l 1033 (Kasemsap, 2019). Here we will be presenting a top to bottom overhauling model require to change our company’s culture and standings into a positive one. We will be defining all the necessary steps for the improvement of any company’s HR policies.

First of all, comes the step of Strategic Analysis of all the program. It is a process that involves investigating an organization’s business atmosphere within which it functions. Strategic analysis is critical to creating a framework of strategic planning for decision making of any organization. With the assistance of strategic planning, the objectives that are decided by any organization can be realized. In an endless attempt to improve, organizations must every so often do a strategic analysis which will help them decide what needs to be improved and what departments of the organization were previously doing well. For an organization to work professionally, it is very important to think about how constructive changes need to be instigated. Strategic analysis is vital if any organization, business or otherwise, has a mission. All organizational leaders, like Steve Jobs, Jack Ma and Bill Gates, who are well recognized for their accomplishments have applied decades of strategic planning at various layers of their organizations CITATION Min18 \l 1033 (Zeng, 2018). The main query that any organization should seriously consider while performing a strategic analysis is what is the constitution of the target market? How are the target clients in this sector? While doing strategic analysis, organizations must recognize their competitors and be able to outline a strategy that will aid them to beat an unbeatable performer in that market.

Next, every organization is burdened with the obligation of developing a strong and vibrant vision, clear mission, and cultural, ethnical and value principles. These principles influence the leadership style of any association, let alone an organization, through the specified goals to accomplish. This is necessary to specify for any organization because a statement will lay down the direction they would follow in the future, and will also specify the framework for the employees in the future. The important roles played by these decided values include the message of the organization to the anxious and concerned investors and shareholders, conveying the strategic development, and the aid in making realistic and assessable objectives and goals to measure the growth employed by an organization. Therefore, these values must be carefully considered to successfully mould an organization into achieving efficiency and productivity.

After the specifications of the mission and vision of any organization, Strategic objectives are the main goals of any organization. Strategic objectives are mainly needed in strategic management. Appropriately set strategic objectives are not fixated at only one area of operations of the organization, like to just increase profits, but they are constructed to instate balance. The strategic objective of the organization is directly related to its mission and vision. Strategic objectives may not necessarily meet the scope and values of “SMART’ (specific, measurable, achievable, realistic and time availability) if they are added into the specific aims CITATION Gra13 \l 1033 (Yemm, 2013). So now the question arises that why are strategic objectives needed in an organization? They are highly central to explain their vision, which will specify their outcomes. They are normally defined by the owner or the upper management, who is also accountable for accomplishing them. Strategic objectives also make organizations realize its vision and help managers to persuade their peers and inferiors at the organization for achieving it, together with suitable and well-defined specific objectives.

Once the organizational strategic objectives are recognized and decided, they need to “flow down” to the precise business divisions, units and/or departments, however, the culture of the organization is specified. Each of these departments will require them to categorize their roles in attaining these organizational goals. These goals also need to have clear objectives, deadlines and dimensions for determining the success of the said objectives. Communication is at the heart of all the operations, making sure that each department is conscious of what the other department is doing. When communicating with the staff, it is vital to collect feedback and settle any fears they may have regarding them. There may be a possibility that some goals need to be attained with collaboration with other department and these need to be checked thoroughly to avoid repetitions. It may also be appreciated by their co-workers to make these objectives attractive by offering schemes to produce these goals. This is only applicable where they are needed. For example, offering hefty commission-based pay scales work well where sales projections need to be attained to increase sales for the organization. The management should also ask their employees to create their own goals that help in achieving the organization’s specified mission. In short, targets should be achievable but employees should be tested to their limits to increase momentum.

Now that all the objectives are recognized at the organizational level, different managers within the different sections can start to distribute these objectives and goals to the individuals within their authority, and that is where Portfolio Alignments in any Organization comes into play. Organizations that accept projects as a means to attaining change and materializing highly needed results, often find it tough to arrange projects on a priority basis and to make optimum use of the resources at their disposal. Furthermore, many surveys have verified that project backlog is an important issue in any organization. Portfolio management is an approach that intends to combine project efforts with the organizational strategy and make efficient use of resources in the organization. There are three major parts of Portfolio Alignment. Firstly, ranking projects and other related activities, based on their involvement in an organization's daily dealings. Secondly, the distribution and usage of resources between those projects that have been selected so that they give the projected benefits. Lastly, monitoring and directing the components of your Portfolio based on the structure and development of a Combined Risk Profile.

Project Charter

 After the above discussion, he is necessary to write down the above ideas and practices into a formal document. For that we have a document called a project charter. A project charter is an official and typically short formal document that defines your project comprehensively, including what the organizational objectives are, how will they be achieved, and who the participants are in the said project. It is an important and highly crucial element in planning out the project because it is used during the project entire lifespan. The project charter usually identifies risks, shows the benefits of the said project and provides a general outline of the budget required in the accomplishment of the project. So, now the question arises that how to Create a Project Charter? Firstly, identify the project vision and determine the scope of the project to specific dimensions and boundaries to facilitate the management. Secondly, define project management. Mention all of the crucial roles for the undertaken project like customers, participants, shareholders and the project team. Thirdly, create an execution plan. Outline major indicators, dependences and timeframe for the entire team. Last but not least, list all probable problem areas that can materialize. Nobody wants to be the bearer of bad tidings, but adding probable issues and risks to the project charter helps everybody involved to think ahead in case the worst occur.

Statement of Emphasis

The Human Resource often creates a motto to promote teamwork, yoking together employees and shareholders from different backgrounds for a successful operation. We can identify such a statement as the "Statement of Emphasis". The required statement of emphasis is about highly centralized management to run the company efficiently. In the light of the concept provided above, the appropriate statement should be “Coming together under the leadership of Mr. ________ for his vision for a better future”. This statement does emphasis a highly centralized authority of one person to achieve the goals and objectives set by him and also how he commands the entire structure strictly. It also sends the message that how every decision will be solely made by him in the entire course of the project.

References

BIBLIOGRAPHY Kasemsap, K. (2019). Promoting Strategic Human Resource Management, Organizational Learning, and Knowledge Management in Modern Organizations.

Yemm, G. (2013). Essential Guide to Leading Your Team : How to Set Goals, Measure Performance and Reward Talent. Pearson Education.

Zeng, M. (2018). Smart Business: What Alibaba's Success Reveals about the Future of Strategy. Harvard Business Review Press.

Organizing HR Projects

Organizing HR Projects

[Name of the Writer]

[Name of the Institution]

Organizing HR Projects

Strategic Planning

Strategic Analysis

Strategic Analysis is defined as a process that involves an analysis of business environment of an organization, taking into account the environment in which an organization operates. It is one of the major element in order to facilitate decisionmaking. Strategic refers to anything that is of superficial level and analysis asserts the breakdown of larger section into small fragments. If a company holds certain objectives and mission in terms of goals, strategic analysis plays a significant role in achieving those objectives. It would not be wrong to say that strategic analysis is a long term task that involves continuous and systematic planning along with resource investment. In a simplified form, strategic analysis is an external review of the happenings in environment in which an organization operates, adhering to long, medium and short term features. (Joseph M.Putti, 2015).

Strategic analysis refers to three main paradigm

SWOT Analysis. It refers to the analysis of strengths, weaknesses, opportunities and certain threats.

Elements within the control of project team

Elements on which team of project control has no/ little control

Guiding Principles

Guiding principles refer to the principles that are used to highlight "the baseline of organization" as well as, "mechanism used for achievement of vision”. (Bratton, et, al. 2000).

Vision Statement

Vision statement is a single sentence that highlights and laments organization in terms of future. There are two major aspects that are associated with “Guiding Principles” such as, “requiring extra effort to be achieved” and other paradigms refer to “multiyear goals that may require a new vision.”

Mission Statement

It refers to the mechanism that is designed for achieving vision. It includes several considerations such as culture, core values, primary customer, beliefs, primary business and organization's core purpose. The purpose of mission statement infers existence of an organization. Core values refer to the circumstances and factors that can facilitate decision making and beliefs reflect the attitude of organization towards people. It also asserts the stance for which leaders stand for. Culture considers the attitude and attribute of the members of an organization. Primary business areas highlight major areas of interest of an organization, referring to products, and services. Primary customers are the actual people or customers for which an organization works to satisfy and fulfill their needs.

Satretic Objectives

Strategic Objectives refers to the means that are utilized for an organization in order to achieve vision and mission. It is significant to note that strategic objectives occur annually, taking into account that objectives are modified and reformulated every year. Strategic objectives define both, long term and short term results. (Bratton, et, al. 2000). Long term objectives are inherently strategic, taking into account that they shape the overall orientation of an organization. On the other hand, short term goals reflect the performance of organization's program. (Li, Y., et, al. 2018).

Essence of gaols

It is significant to note that, effective objectives are “effective” in nature adhering to certain attributes such as, Specific, Measurable, Achievable, Result-based and Time-specific. It is equally important to note that SMART goals are the actual stance towards achieving required gaols. (Li, Y., et, al. 2018).

Flow-Down Objectives

Flow-Down objectives refer to those objectives that have the potential to enforce, "strategic objectives". Flow-down objectives are enforcement and real-time implication of the strategic objectives. It is important to note that Flow-Down objectives are implemented through ongoing operations. The stance of implication of objectives relies on projects as the primary methods. (Li, Y., et, al. 2018).

Portfolio Alignment

Portfolio alignment is management tools that can agile program management. Project portfolio management is a process by which the projects of an organization are evaluated in order to define benefits, aims and purposes. There are different aspects of portfolio management such as portfolios, programs, project and subproject and assessment of organization's ability to perform projects (Li, Y., et, al. 2018).

Portfolios

It refers to the composition of programs, sub-portfolios projects, and ongoing operations. Portfolios are a major tool to adhere to balance between small and large projects, high risk and low-risk projects. Portfolios also determine equilibrium between the high rewarding and low rewarding project, taking into account the time required for the completion of the projects as well as the substantial time that is required for the achievement of project goals. (Li, Y., et, al. 2018).

Programs

Programs are an accumulation of subprograms, related projects and the activities that can synchronize organizational goals. Programs last as long as organization lasts because organization cannot work without programs that are highly dependent on the organizations. It is significant to note that projects that are localized within a program are of limited duration and they are managed at a level that is above project manager. (Li, Y., et, al. 2018).

Project Portfolio

Project Portfolio refers to the collection of projects that are grouped so that they can be managed collectively. The management of portfolio includes management of projects referring to certain aspect and paradigms such as identification of projects, their selection, prioritization, sorting of resources and the governance of the projects. (Li, Y., et, al. 2018).

Projects and Sub Projects

Project is a collection of multiple subprojects. It is the responsibility of project manager to coordinate several subprojects and make certain decisions that are best for the project. The subproject is a fragment that is attained by division of project, referring to obtaining more manageable pieces. (Li, Y., et, al. 2018).

Organization’s ability to perform projects

It refers to the ability of different stakeholders to perform actions that are associated with projects such as teamwork, PM process, and leaders. The ability of an organization to perform required actions are dependent on the ability of each of the stakeholder to perform duties that are required of them. (Li, Y., et, al. 2018).

Importance of these steps

“The steps of strategic planning can guide project team to make decisions that could act as a code of conduct in terms of long and short term goals, taking into account that required changes can be made by adhering to both quality and quantity”. (Li, Y., et, al. 2018).

Vision and Mission Statement

Vision

To incorporate word class human resource management adhering to best practices and technologies with continuous learning and improvement.

Mission Statement

The mission of Project team is to provide effective management of human resources by implementing and developing policies, services, and programs that can contribute to the attainment of employee and corporate goals. Project team aims at balancing the needs of company and employees, ensuring a diverse workforce void of discrimination. Organizational goals are achieved by adequate training and development in the areas of career development of employees, government regulations and employment laws. The aim of project team is to hire most qualified employees by adhering to employment market place.

Project Charter

Project Charter is an informal contract between the sponsors and the project team. It would not be wrong to say that project charter is a contract in which two or more parties are freely in contact with each other, this contract cannot be changed arbitrarily. (Bratton, et, al. 2000). Project charter is a stance that offers something for value, taking into account that it is a living document that changes with a change in condition. It is asserted that project charter is a transition from project initiating stage to project planning stage. (Bratton, et, al. 2000).

Uses

Authorize project manager to proceed

Project charter allows the project manager to proceed with the plan. There are two specific considerations with it, mentioned below

Commitment of resources to a project

Resource commitment is a project management document that is used in the planning of human resource. This form does not use all the projects however it refers to the resource sharing between different departments. Commitment of resources highlights the stance of "check and balance" between different resources. (Bratton, et, al. 2000).

Providing official status in the parent organization

Project charter is a tool that can pave the way for granting official status to the parent organization. It refers to the fact that charter is more like a code of conduct that allows an organization to incorporate the stance of “set pattern”. It is evident that official status highlights the "expected conduct” that can keep contractors and stakeholders in synchronization with each other. (Bratton, et, al. 2000).

Developing a common understanding

Organization character incorporates teamwork; it paves the way for attributes such as trust, agreement, commitment, and communication. Common understanding reflects mutual understanding taking into account that a sponsor is less likely to bring bout a change in the original agreement. It is significant to note that common understanding is the stance that keeps the sponsor and stakeholders in coordination with each other. (Bratton, et, al. 2000).

Creating commitment

Commitment is one of the catchlines of the organizational charter; it is an analysis of abstract relationship that keeps the contractor in touch with each other with complete trust. (Bratton, et, al. 2000).

Screenout poor projects

Organizational charter is one of the major tools that allow an organization to screen out poor projects, taking into account the fact that a systematic and procedural analysis of decision paves the way for continuous betterment and evaluation. (Bratton, et, al. 2000).

Three Charter Elements

There are different elements of charter, taking into account individual significance of each; however, three major elements are as follows

Risk, assumptions, and constraints

Risk refers to an uncertain situation that could have a positive or negative impact on the project. It is asserting that “negative connotation” is commonly associated with risks.

Assumption refers to the supposition that is made while planning a project; these presuppositions adhere to factual basis. Negative assumption refers to risk that can threaten the overall goal achievement in an organization. (Joseph M.Putti, 2015).

Constraints

It refers to the restrictions and limitations in the implementation of project. Constraint may range from external factors to certain internal factors. A common example of constraints is lack of money. (Joseph M.Putti, 2015).

Resources

Resource refers to the budget adhering to a level of confidence in the estimate; it refers to the identification of expenses that a project manager can authorize. Resource estimation also highlights the control of needs of sponsor as well. (Li, Y., et, al. 2018).

Stakeholders

In the case of stakeholders, charter determines the actual stakeholders who can have an influence on the decision making power. Stakeholder list determines the actual stakeholders who can have impact on the organizational decisions. (Bratton, et, al. 2000).

Statement of Emphasis

Organization charter is more like an action plan that determines the future circumstances, side by side it keeps the present and ongoing action to be controlled by the mutual coordination of both stakeholders and sponsors. Organizational charter is the spine of organization, adhering to an analysis of facts and figures in terms of major elements of organization such as resources, and stakeholders.

References

Bratton, J., & Gold, J. (2000). Human Resource Management : Theory and Practice (Vol. 2nd ed). Mahwah, N.J.: Taylor & Francis [CAM]. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=56637&site=eds-live&scope=site

Joseph M.Putti. (2015). Human Resource Management : A Dynamic Approach. [Place of publication not identified]: Laxmi Publications. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1223947&site=eds-live&scope=site

Li, Y., Wang, M., van Jaarsveld, D. D., Lee, G. K., & Ma, D. G. (2018). From Employee-Experienced High-Involvement Work System to Innovation: An Emergence-Based Human Resource Management Framework. Academy of Management Journal, 61(5), 2000–2019. https://doi.org/10.5465/amj.2015.1101

Performance Appraisal

Performance Appraisal

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Performance Appraisal

A performance appraisal is also known as employee appraisal or performance evaluation. It is a process designed to evaluate and improve the job performance of an employee. A performance appraisal is the foundation of many activities such as training and development, promotion and decisions regarding bonuses and perks. There are many forms of an employee appraisal system and each company adopt a different method of appraisal according to their needs. This paper seeks to analyze how performance appraisals are an essential element of Human Resource of an organization. In addition, it will also explain the role of performance appraisals in the attainment of organizational goals and objectives, and effective training alongside the laws to protect employees from discrimination in this regard.

The essentials functions of a Human Resource department of an organization include hiring the right people, retaining them, providing them benefits, and training them as well. In order to ensure all these functions are performed in a better way, HR has to perform some sub-functions as well. Designing and implementing effective performance appraisals is essential to ensure that employees are working towards the organizational goals and objectives (Aguinis, Joo, & Gottfredson, 2011). It is the task in which human resource department plays an indispensable role. The safe and sound implementation of the complex appraisal process is done by the human resource teams. The prime responsibility of the HR team is to design an effective appraisal of an assessment proposal. Along with the effective design, the criterion is also fixed which has to be clear and concise in nature. it is mandatory for HR teams to sit and discuss issues with inspection teams to ensure the facilitation of appraisals on time, and to assure that only the deserving employee get the due reward for their performances in the organization.

An effective performance appraisal system is the one which seeks to attain the basic goal of assessing employee performance, without any discrimination. A successful performance appraisal system must have some evidently defined goals and objective, so that effort is directed towards achieving them (Lawler III, Benson, & McDermott, 2012). The system must remain a continuous process and it must begin with effective performance planning. The goals and objectives should be set for employees based on which the performance will be assessed. Performance planning is essential before starting the process of appraisal and the methods adopted to evaluate must be free of any bias. It must also include an overall assessment including self-appraisal and 360-degree appraisal as well. Rewards and compensations should be performance-based and results of appraisals must be communicated to employees. In the end, decisions must be made fairly on the basis of appraisal results.

The primary role of a performance appraisal system is to enhance the performance of and promote the effectiveness of employees. In this continuous process, employees and managers work together to plan and monitor an employee’s performance. In addition, the alignment between employee’s aims and objectives and organizational aims and objectives is also observed. In the presence of this alignment, an employee is motivated by offering benefits, perks and compensation while otherwise employees are motivated to improve their performance. Without an effective performance appraisal system, it is not possible to see if the employees are fulfilling their roles and responsibilities listed in their job description (Aguinis, Joo, & Gottfredson, 2011). Furthermore, it becomes the basis of employees’ promotion and chalking out the compensation packages for employees. Moreover, it further helps in fostering communication between the supervisors and subordinates. All these activities result in the attainment of the company’s aims and objectives.

Performance appraisals offer countless benefits to organizations such as these become the basis of promotion decisions. It helps in designing the compensation packages to motivate employees. The systematic procedure of performance appraisal is a guide for supervisors to design training policies and programs. Since appraisals help in assessing the strengths and weaknesses of employees so that new jobs are designed and employees are trained to perform their current jobs effectively. The future development programs designed on the basis of performance appraisals prove to be effective in their outcome. There could be discrimination the performance appraisal programs, supervisors may evaluate the employees unfairly.

Labor laws and regulations protect employees against any form of discrimination based on age, sex, race and any physical disability. Though labor laws do not mandate the performance appraisals they protect employees from discrimination. Potential form of discrimination can be late appraisals and pay raise, different standard for different employees and short-term memory of supervisors that may result in an unfair assessment of employees. Based on the unfair performance appraisals, employees are treated deceitfully in terms of compensation and benefits. As a result, organizations may face some lawsuit and concerns from regulatory organizations.

To sum up the discussion, performance appraisals are a great way to enhance employees’ performance is an essential function of HR and its effectiveness is entirely dependent on the effectiveness of the HR team. An effective performance appraisal must contain elements that assure fair treatment to employees. In addition, appraisals assess strengths and weakness of employees and help them align their goals with organizational goals and objectives. It becomes the basis of some most imperative organizational and HR functions such as training programs. Appraisals are an assessment vital for the fair treatment to employees and save an organization from any regulatory risk of discrimination if conducted in a fair way.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Aguinis, H., Joo, H., & Gottfredson, R. K. (2011). Why we hate performance management—And why we should love it. Business Horizons, 54(6), 503–507.

Lawler III, E. E., Benson, G. S., & McDermott, M. (2012). What makes performance appraisals effective? Compensation & Benefits Review, 44(4), 191–200.

Performance Appraisal And Career Management.

Performance Appraisal and Career Management

[Author Name(s), First M. Last, Omit Titles and Degrees]

[Institutional Affiliation(s)]

Author Note

[Include any grant/funding information and a complete correspondence address.]

Performance Appraisal and Career Management

Employee Performance Evaluation-what you’re not doing

The article discusses the engagement of employees in an effective and there are other ways, which cannot be limited because the way of engaging employees has its implications. The engagement of employees portrays the idea about the activities of the organizations. While, evaluations are important and the processes include what to do, and what should be avoided. The evaluation should not be done on the employees because every employee performs differently while the goals should be connected to the individuals in the organization ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"ZGNfj4RW","properties":{"formattedCitation":"(\\uc0\\u8220{}Employee Performance Evaluation,\\uc0\\u8221{} 2010)","plainCitation":"(“Employee Performance Evaluation,” 2010)","noteIndex":0},"citationItems":[{"id":522,"uris":["http://zotero.org/users/local/F0XOCTdk/items/VZYX2TP9"],"uri":["http://zotero.org/users/local/F0XOCTdk/items/VZYX2TP9"],"itemData":{"id":522,"type":"post-weblog","title":"Employee Performance Evaluation: What you're Probably Not Doing","container-title":"Emergenetics International Blog","abstract":"Don't expect every person to approach their employee performance reviews in the same way. Tailor your review so that it is in line with their thinking preferences.","URL":"https://www.emergenetics.com/blog/employee-performance-evaluation-what-youre-not-doing/","shortTitle":"Employee Performance Evaluation","language":"en-US","issued":{"date-parts":[["2010",12,10]]},"accessed":{"date-parts":[["2019",11,8]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Employee Performance Evaluation,” 2010).

The 5 goals of employee performance evaluation

The employee performance evaluations are not liked by the management because it is done in a traditional way and they don’t like an environment where the employees’ work is judged. While performance management is preferred because it only evaluates performances of the employees and performance management is advantageous for employees as well as the managers. The process includes feedback, self-evaluation, setting goals, recognizing the employees and documenting the progress of employees ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"5plHqI6u","properties":{"formattedCitation":"(Heathfield, 2019)","plainCitation":"(Heathfield, 2019)","noteIndex":0},"citationItems":[{"id":528,"uris":["http://zotero.org/users/local/F0XOCTdk/items/9MU5QZUS"],"uri":["http://zotero.org/users/local/F0XOCTdk/items/9MU5QZUS"],"itemData":{"id":528,"type":"post-weblog","title":"Why Organizations Do Employee Performance Evaluation","container-title":"The Balance Careers","genre":"Human Resources","abstract":"Are you a fan or foe of employee performance evaluations? Organizations have good reasons for doing them. How the evaluation is done is what matters.","URL":"https://www.thebalancecareers.com/employee-performance-evaluation-goals-1918866","language":"en","author":[{"family":"Heathfield","given":"Susan M."}],"issued":{"date-parts":[["2019",5,14]]},"accessed":{"date-parts":[["2019",11,8]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Heathfield, 2019)

Discussion

Performance appraisals are good because they sometimes give motivation to the employees to work efficiently and effectively ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"VuFAhc50","properties":{"formattedCitation":"(Kampk\\uc0\\u246{}tter, 2017)","plainCitation":"(Kampkötter, 2017)","noteIndex":0},"citationItems":[{"id":531,"uris":["http://zotero.org/users/local/F0XOCTdk/items/5UMVFZL5"],"uri":["http://zotero.org/users/local/F0XOCTdk/items/5UMVFZL5"],"itemData":{"id":531,"type":"article-journal","title":"Performance appraisals and job satisfaction","container-title":"The International Journal of Human Resource Management","page":"750-774","volume":"28","issue":"5","author":[{"family":"Kampkötter","given":"Patrick"}],"issued":{"date-parts":[["2017"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Kampkötter, 2017). These appraisals also give legal evidence about employee’s performance, and how they can make changes to improve. For a manager, conducting performance appraisals is for the accountability in work and to evaluate the performances of the employees, while according to an employee, the purpose for appraisals is because this will help them for self-assessment, and to have feedbacks and to set goals for the organization. However, as an employee, I have only experienced the self-assessment and feedback appraisals because we were on training. The appraisals were fair enough because these made me able to do self-assessments and give appropriate feedback to the organization about the environment and the processes.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Employee Performance Evaluation: What you’re Probably Not Doing. (2010, December 10). Retrieved November 8, 2019, from Emergenetics International Blog website: https://www.emergenetics.com/blog/employee-performance-evaluation-what-youre-not-doing/

Heathfield, S. M. (2019, May 14). Why Organizations Do Employee Performance Evaluation [Human Resources]. Retrieved November 8, 2019, from The Balance Careers website: https://www.thebalancecareers.com/employee-performance-evaluation-goals-1918866

Kampkötter, P. (2017). Performance appraisals and job satisfaction. The International Journal of Human Resource Management, 28(5), 750–774.

Performance Pay

Performance Pay

[Name of the Writer]

[Name of the Institution]

Abstract

In this study, we will discuss the performance pay plan introduced during the last decades worldwide to acknowledge the top performers of the organisation. There are certain benefits of this plan such as; to motivate the employees positively. However, this plan has certain drawbacks from both employer's perspective and employees perspective. The effectiveness of this plan could be measured by the quantitative method through a questionnaire. Which would include the employee's satisfaction level, the turnover intention of employees, and the performance of the employees.

Performance Pay

Introduction

The term pays for performance means the compensation plan where the performance of an individual and the organisation is evaluated which significantly influence the pay of the employee. However, the employees do not rely on motivation through money to improve the performance of an individual or organisation. Most employees are motivated through other factors such as personal pride, or their desire to contribute. The monetary rewards could rarely motivate people to go some extra miles for the organisation. According to the employee's behaviour, they need both intrinsic and extrinsic rewards (Howard et al., 2016). The organisation can measure the effectiveness of their pay for performance plans through various factors such as the satisfaction level of employees, turnover rate of the staff, appraisal and performance management, and the productivity of employees. From the employees perspective, this plan is failed and create job insecurity for a competent employee. The performance is not only influenced by the abilities and skills of a person but also influenced by other external factors. For instance, a bank manager who was an average performer at one branch in terms of bringing deposits. He was transferred to another branch where he performed very well due to the nature and position of that market. From the employer's perspective, this plan is not effective because it reduces the sense of teamwork among the employees. Every employee will try to achieve its personal goals and earn more amount of money. The employees might use negative approaches to beat their colleagues. It also results in the deteriorating of the quality of the products or services. And due to the speed of work the quality is compromised.

Discussion

The good performer will be rewarding as the increases in bonuses, and rewards. The best performers of the organisation are rewarded, to motivated and acknowledge them to continue such performance in future as well. Moreover, moderate or average performers will also provide a small amount of increase in their salary or bonus. Which will be a kind of motivation for them to perform better in future. While the poor performers will have no increase and might receive some kind of show cause or warning letter etc. to promote it. Which will persuade them to perform better in the future. Many districts in the USA have taken the initiative of performance-based pay policy to reward the top performing teachers. The achievements of their students measure the performance of teachers. The purpose of this policy was to encourage, motivate, and acknowledge the teachers who are working hard and producing better results. Despite some positive outcomes of this policy, there are some consequences of this decision. This policy aimed to correct inefficiencies found in the previous traditional compensation schedule. It helps to motivate teachers to perform better and align their behaviours with institutional goals. This HR policy in one way helps to achieve the organisational goal, which is set with the individual goals of the employees. It also encourages the average and poor performers to meet the required criteria for their career growth and sustainability. The higher performers have more job security and can retain their job as a teacher for a long time. However, there are certain drawbacks of the performance pay policy. The opponents of this policy claim that teaching performance cannot be measured with the achievement of students. The grades of students depend on various factors such as the subject, students ability, and the level of study.

Moreover, the purpose of a teacher is to teach the students for some non-monetary gain, but it could confine their purpose to money only. This competition for the good grades of teaching will limit the learnings and lessons to the standards of tests and exams. The creativity and extra knowledge sharing of the teachers could be stopped. Some performances are measured easily such as the production, and sales etc. However, some performances could not be easily measured mostly in the service industry. Where the quality of service provided by an employee to one person is different from the service provided to another person. Organisations can measure the effectiveness of the pay for performance plans through various parameters. Usually, quantitative approaches are used to determine the effectiveness of this performance plan (Gerhart, 2017). The HR of the organisation measure the performance-based pay plan through the level of satisfaction of employees, the turnover rate of the staff, appraisal and performance management, and the productivity of employees (Dohmen and Falk, 2011). This plan has many drawbacks from both the employee's point of view and employer and employee perspective. On the employer perspective, there are many drawbacks such as; the quality is being compromised, the teamwork is also affected by the greed earning more money and beat other employees in this race. From the employee's perspective, the pay for performance plan has certain disadvantages such as it will create job insecurity for a competent employee.

Conclusions

The fundamental objective of the business organisation is to maximise its profit and minimise its costs. During the last few decades, the organisations have introduced the pay for performance plan which helped the organisation to improve the performance of the employees. This approach was used to acknowledge the services of top performers of the organisation. However, this plan also holds some disadvantages because the monetary rewards are not sufficient to motivate the employees.

References

Dohmen, T., & Falk, A. (2011). Performance pay and multidimensional sorting: Productivity, preferences, and gender. American Economic Review, 101(2), 556-90.

Gerhart, B. (2017). Incentives and pay for performance in the workplace. In Advances in Motivation Science (Vol. 4, pp. 91-140). Elsevier.

Howard, L. W., Turban, D. B., & Hurley, S. K. (2016). Cooperating teams and competing reward strategies: Incentives for team performance and firm productivity. Journal of Behavioral and Applied Management, 3(3), 1054.

Phase 3 Project Strategic Case

Title Page

Phase III

Executive summary

The stocks of JB Hunt are traded at NASDAQ and quiet period policy is used for maintaining compliance with the regulation of FD. The earnings are recorded in quarter-end financial reports. The sales revenue for the year 2018 is accounted as $8.61 billion compared to previous year's $7.19 billion. The financial performance of the company is satisfactory because a consistent increase in revenue and profits is observed. The company enjoys a strong position in making investments in new projects. It is also investing in technology for enhancing the quality of product and services. In short-perspective JB Hunt has interesting fundamentals. The transport service accounts for 4.57 percent of market share in the USA. The purchase price of trade recorded on February, 28 was $125.66 CITATION Mar19 \l 1033 (Markets, 2019).

High visibility into group activities is the apparent strength of JB Hunt. The analysts determined that the future revenues covering the equity have remained the same. The dispersed estimates reveal highly predictable sales of the company in the future. The sales recorded in the last year are above the company's expectations. The company's earnings depict that it holds the capacity of expanding the business to other states and countries. Strong cash flow is adequate for providing resources for the expansion of new projects. The future recommendations suggest increasing market share and positioning in the US portfolio. The assessment of the mergers and acquisition also indicates the success of the company. The effective distribution and supply chain networks have also boosted financial gains. The profitability ratios and net contribution of the company are satisfactory.

Financial projection

Product positioning map

Evaluation of strategies

The strategy JB Hunt stresses on four main operating segments, dedicated contracted, intermodal and integrated capacity solutions. Company’s strategy of investing in projects that use enhanced technology include CarrierWatch for tracking, Landstar system, and Swift Transportation is attainable. The generation of over $1 billion is favorable for the new projects. Improvements are also realized in the trucking segments that predict chances of future growth and profitability. Improving operations is directly linked to reduced costs and increased scope of generating revenues CITATION GDO00 \l 1033 (TAYLOR & MEINERT, 2000). The new design focuses on improving the quality of the product by adopting innovative methods of production.

Implementation

The implementation of JB Hunt's strategy depends on the financial position of the company. As the company has sales reached to 8.61 billion in 2018 indicating an increase from the previous year, the company can finance new projects.

Specific results

A strong financial position of the company leads to increased market share through segmentation and return on equity.

Financial indicators

2016

2017

2018

Sales/ revenue

$6.56 billion

$7.19 billion

$8.61 billion

Gross income

874 million

818.48 million

926.28 million

Net income

432.09 million

686.26 million

489.59 million

EBIDTA

1.09 billion

1.02 billion

1.12 billion

Visual of ending road map

The financial ratios used for evaluating the performance of the company include current ratio, quick ratio, debt-to-equity and return on equity.

Financial ratios

Formula

Values

Current ratio

1,502,981/ 1,352,348

1.11

Quick ratio

1,502,981- 0.51/ 1,352,348

1.11

Debt-to-equity

489.59/ 2101,384

0.2

Return on equity.

1,352,348/ 2101,384

0.64

The current ration (1.11) depicts that the company holds a limited capacity of paying back its short-term obligations. The company can pay back its debts having a value of 1.11. The value between 1-1.5 is not satisfactory indicating that the company needs to improve its ability to pay back debts. Quick ration reveals the state of short-term liquidity of the firm. It is used for estimating short-term debts that are most liquid. The value of 1.11 depicts that the comp may have a limited capacity of meeting its obligations. The debt-to-equity ratio explains the financial leverage of the firm by estimating total liability against stakeholders’ equity. The ratio is an important measure for estimating the degree of the company's financing its operations through debts. The debt-to-equity ratio is 0.2 indicating that stakeholders are financing the company's operations. Return on equity determines the net income returned on the equity of stakeholders. This reveals the number of profits generated by JB Hunt. The value of ROE is 0.64 that indicates that the firm is generating profits from stakeholders investment. The analysis of the financial ratios depicts that it will benefit the company's strategy. The company has a capacity of investing in a new project.

Strategy evaluation

Balanced scorecard

The balanced scorecard is used for assessing the financial performance of the company. Financial measures reflect the company's strategy, implementation, and contribution to the bottom-line. The financial goals focus on revenue growth, profitability, and stakeholders value. It emphasizes on success, survival, and prosperity. Cash flow is used for determining the success and financial stability of the company CITATION Rob92 \l 1033 (Kaplan & Norton, 1992).

Financial objectives

Goals

Measures/ recommendations

Target

Survival

Improving cash flow

3%

Success

Increase in quarterly sales and improved operating income.

5%

Prosperity

Increasing return on equity and market share.

4%

Non-financial objectives

Goals

Measures/ recommendations

Target

Technological capability

Improving manufacturing by adopting efficient methods of production.

5%

Manufacturing excellence

Reducing the cycle time of production. Minimizing unit cost yield.

2%

Design productivity

Improving engineering efficiency.

3%

New product

Adopting schedule vs. plan

2%

Conclusion

The comparison of the current strategy of improving organizational productivity is also identified by the company's own strategy. However, the proposed strategy emphasizes on improving employee-employer relationships such as by creating a buddy system. It also recommends the adoption of enhanced technology that is also part of the company's original strategy such as JB Hunt 360. The enhancement of technology emphasizes on building online systems.

References

BIBLIOGRAPHY Alias, Z., Zawawi, E., Yusof, K., & Aris, N. (2014). Determining Critical Success Factors of Project Management Practice: A conceptual framework. Social and Behavioral Sciences, 153, 61 – 69.

Kaplan, R. S., & Norton, D. P. (1992). The Balanced Scorecard—Measures that Drive Performance. Harvard Business Review.

Markets. (2019). JB HUNT TRANSPORT SERVICES (JBHT) . Retrieved 02 28, 2019, from https://www.marketscreener.com/JB-HUNT-TRANSPORT-SERVICE-9769/ratings/

TAYLOR, G. D., & MEINERT, T. S. (2000). Improving the quality of operations in truckload trucking. IIE Transactions, 32 (6).

Planning Consideration For The HR Project

Planning Consideration

Submitted by

Affiliation

Date

Planning Consideration

Q1. The activity of any organization is to carry out operations and projects. One of the most important tasks of a project manager is to keep the changes and scope of the project under strict control in order to achieve a successful, satisfied customer.

Schedules : Time tracking is an effective way to record and monitor the time spent on a particular task or activity in a project. Schedules can then be used for payroll, billing, or process optimization. The planning of the scope of the Project, according to the PMBoK, is the response that the Project Manager gives to the expectations of the actors interested in the Project. It is the determination of the Project's work and should only include the work necessary to complete the Project. (A Guide to the Project Management Body of Knowledge ,2013)

What is the planning of the scope of the Project?

It is a baseline of the scope and make the concrete definition of the result, product and / or service object of the Project. It include the determination of all the work, production and management necessary for completion with success of the work. It also validate that a correct delivery and acceptance of all the work included in the scope has been made to measure the progress of the scope and assess the performance. It also predict its completion and properly manage the changes in the scope.

project costs can be recorded and evaluated. Project costs comprise labor costs, additional costs and travel expenses. Depending on the filter setting, the project costs can be displayed on customers, projects, sub-projects or processes. Evaluation results on the project costs can be exported for further use. The allocation of project costs to the individual projects can also be displayed graphically in the form of bar charts or pie charts. With this powerful software, you can plan, book and manage budget bills, labor costs, travel expenses and similar costs.

Basically, costing is one of the most important phases of a project. It is used to calculate in advance any expenses that may be incurred and to provide a framework for orientation to the own project team as well as to give the customer a negotiable up-front price. A detailed cost planning is very important, especially in the early stages of the planning process, as these have the best opportunity to influence and control the project costs. (Meredith and Mantel, 2014)

The impact on costs during early project phases is very high. The increase in knowledge regarding costs is increasing in the course of the project. Furthermore, the cost trend continues to increase. Project feasibility analysis is a useful tool to describe the project, the goals of its sponsors, its sensitivity to various risks associated with construction, commissioning and operational risks. In addition, it includes an analysis of alternative financing options and opportunities to enhance the quality of credit. It includes an assessment of capital requirements, debt servicing opportunities, forecasting revenues from the level of planned sales, analysis of production costs, and a market forecast. As a rule, when considering alternative scenarios, fluctuations of such variables as fuel prices, interest bank rates, exchange rates, etc. are taken into account.

Q2. The most important skill associated with project resourcing include;

Selecting the right people

It is important to select right person according to project demands otherwise the expected success will be difficult. When starting a project, planning and choosing the right people for the project team are paramount to the success of the project. However, they are only profitable up to a certain point, and alone do not guarantee the success of the project. The team spirit should be maintained and from time to time ensure that everyone has the same goal for the project. Stakeholders should be in contact throughout the project and ensure their acceptance in case of change.

Ensuring that each person has the capacity needed (or develop that capacity)

The project manager is responsible for ensuring that the end result of the project is the right one, remains on budget and is ready on time. The project manager should lead his team so that these goals are realized. The most important qualities of a hire person are communication skills and the ability to make decisions. Communication can be listening, talking, reading, writing and seeing. The selected person must constantly communicate the project's events to both stakeholders and team members. He should understand how to communicate to different people, given their urgency, personality, and importance of the message. Sometimes it may be better not to communicate the message completely. The project manager himself must always be aware of the project situation, the next steps and their priorities, and communicate accordingly.

Assembling an effective team

The project manager is responsible for ensuring that the end result of the project is the right one, remains on budget and is ready on time. The project manager should lead his team so that these goals are realized. The most important qualities of a good project manager are communication skills and the ability to make decisions. Communication can be listening, talking, reading, writing and seeing. The project manager must constantly communicate the project's events to both stakeholders and team members. He should understand how to communicate to different people, given their urgency, personality, and importance of the message. Sometimes it may be better not to communicate the message completely. The project manager himself must always be aware of the project situation, the next steps and their priorities, and communicate accordingly.

Deciding where each person will work

For each project, an appropriate team is assembled. Team members may not know each other well, and the project organization does not have established practices for meetings or communications, for example. However, they are important to the success of a project, so they should work right from the start of the project. However, a skillful project manager can turn this into a lack of practice. In fact, he is able to choose the right methods for the project and team.

Q3. Assessment and planning of the cost in the project is intended to ensure the implementation of the project within the established budget. Consider the following main stages:

Determining resources - calculating the resource requirements needed for the successful implementation of CIS.

Cost estimation - determining the cost of labor and resources needed to carry out project work.

Development of the project budget - distribution of estimated costs in accordance with the timing of implementation.

Project cost management is primarily associated with the cost of resources needed to complete the project.

Cost management in the project should also consider and take into account all additional costs in the project: the costs of individual orders, remuneration, etc.

After scheduling the implementation work, one can build schedules of resource requirements needed to complete the project. Volumetric and temporal characteristics of resource consumption are used to determine the cost of the project. To determine the full cost of the project, it is necessary to consider all the resources used in it:

software (development environments, system licenses)

labor resources (salaries, expenses for finding personnel.)

cash for additional costs.

office expenses

subcontracting expenses

risk reserves

Accordingly, it is necessary to draw up a number of project budgets. The project budget is equivalent to the estimated current costs of the organizational unit. The main difference is that it covers the entire project from start to finish, while the budget of the organizational unit is compiled annually. For more effective control, the project budget should be divided into two parts: direct budget and indirect cost budget. (Meredith and Mantel, 2014)

Q4.. The keywords in the definition are:

probability;

event;

subject;

decision;

losses.

Project risks are classified according to the following criteria: types, stages of the project, sources of occurrence, nature of occurrence over time, level of financial losses, the possibility of foresight, the possibility of insurance.

By type, the following risks are distinguished.

1. The risk of design. This risk is generated by the imperfection of the preparation of the business plan and design work on the proposed investment object, associated with a lack of information on the external investment environment, incorrect assessment of the parameters of the internal investment potential, the use of outdated equipment and technology that affect the indicators of its forthcoming profitability.

2. Construction risk. This risk is generated by the selection of insufficiently qualified contractors, the use of outdated construction technologies and materials, as well as other reasons that cause a significant excess of the stipulated deadlines for construction and installation work on the investment project.

3. Marketing risk. It is associated with the possibility of a significant reduction in the volume of sales of products envisaged by the investment project, the level of prices and other factors leading to a decrease in the volume of operating income and profit at the stage of operation of the project.

4. The risk of financing the project. This type of risk is associated with insufficient total investment resources necessary for the implementation of the project; untimely receipt of investment resources from individual sources; increase in the weighted average cost of capital involved in investing; imperfection of the structure of sources of formation of borrowed investment resources.

References

Meredith, J. R. and Mantel, S. J. (2014). Project Management: A Managerial Approach (9th ed.),

Wiley, ISBN-13: 9781118947029.

A Guide to the Project Management Body of Knowledge (2013) (5th ed.) Project Management

Institute.

Planning Considerations For The HR Project

Planning Considerations For The Hr Project

[Name of the Writer]

[Name of the Institution]

Planning Considerations For The Hr Project

Scope of the Project

This project is about understanding and knowing the exact job descriptions and job specifications of major people of the university. Those people mostly include Director of the university, Deputy Director, Vice Chancellor, Deans of different faculties, chairman of all department, Heads of departments and department coordinators. In terms of task management, each member of the project will perform different activities or tasks. Every member will be assigned with a specific task or duty for which he/she will be responsible to perform with perfection and add results into the project. The main deliverable or purpose of this project is to know that what are the exact duties and responsibilities of the above-mentioned people (both, roles in the documentation and actual duties).

By delivering this outcome, this project can be extremely beneficial for HR Department of the university for any decision making as well as they will know the actual duties of these bodies beyond what they have in writing about them. Afterward, another major part of this project is the estimation of costs, expenses or expenditures that how much budget will be needed and how costs will be allocated. As well as where the financial requirements will be gathered from (Clark, 1989).

At the end and final step of the scope of the project, we will have to define the expected deadlines of the project. For deadlines, the shortest deadline of the project will be to complete, finalize and submit the result at the end of the coming month and the longest deadline (not longer than) is completed before the final exam of the current semester. Any change request can be made from the team players if any issue or problem occurs in any aspect or at any stage of the project. This request will be made only for the purpose of generating exact, outcomes.

Behavioral Skills Associated with Project Resourcing

There is a number of behavioral skills which all have their importance in project resourcing as well as there are some crucial technical skills which have also the connection with project resourcing. But some most critical and important (based on my consideration) are listed and described in details below.

Communication among Project Members

Leadership

Public Speaking

Team Building

Communication among Project Members

Communication among project members is 90 plus percent important in the success of every kind of project no matter the project is of small size or large. Communication is considered is the most important factors because success or failure and efficiency of the project mostly depend on the strong-ness of communication among project members. Activities and operations and their efficiency also depend on the communication because if the communication among team members of the projects if strong and fine then the activities and responsibilities will be performed better than having weak communication(Burke, & Barron, 2014). Like, all the activities of the project are related to each other and the responsibilities of members are connected with each other. So if members can communicate their progress then they are able to perform better than what has been done, what is going and what is needed to be done. Beyond that, if the communication of members with project leader is good then the progress of work and how a member is performing his/her duty can be checked out by the leader which result to the efficiency of project operations.

Leadership

Leadership is an important factor in the success of every project. Leadership plays a huge role in the project and defines the success and failure of the project. The critical stress in project management or handling is making sure that things are going fine and well while motivating team members of the project towards delivering the desired outcomes as well as ensuring the success of the project. Beyond that, leadership factor in project is very crucial and critical because leadership is the factor which is responsible for answering each and every question as well as to provide the desired outcomes. Sometimes, the importance of leadership in the project(s) depends on the nature and size of the project. If the project is of large size then the leadership become more crucial while it also has a keen role in small size project (Burke, & Barron, 2014). So based on these factors and analyses, leadership is an important and crucial skill required in the project out of mentioned four skills.

Public Speaking

All projects or project of any kind needs members who have the capabilities to be a good public speaker. This is important because project members are the people who face meeting with all the people who are connected with the project. In a project, there is a number of bodies who are highly involved and project members have to answer them. Those bodies include project manager, project supervisor, people or bodies who provide financial resources and the people or public which can be affected in any way by the project (Burke, & Barron, 2014). So, in this case, you must have the capability to face all of them and answer what they ask and what resolve the issues or problems they face or might face. So in short because of this consideration, public speaking is one of the important and critical & crucial skills required in the project.

Team Building/Team Working

Team building and/or team working is a behavioral skill which is mentioned as last one out of mentioned but it is an important and critical skill in the project because the concept of team building or teamwork is basically introduced for project-based activities and operations. It is an important and critical behavioral skill because if there is a well-designed and well-built team then there will strong communication too (Burke, & Barron, 2014). So your project progress and operations will be as good as your communication is (mentioned above too). Beyond that, suppose a project manager has not built a good team for the project then it would be extremely difficult and even impossible to run a successful project and bring desired outcomes as well as satisfy expected need (Martinelli, et.al 2017). So because of these reasons, team building and teamwork are a critical skill for any project.

RACI Chart

Project Phases

Leader/Manager

Member 1

Member 2

Member 3

Phase 1

Team Development

Task 1 (Define Project Scope)

Task 1 (Project Approval)

Task 2 (Activity Scheduling)

Phase 2

Checking Outcomes

Task 3

(Skills Review)

Task 4 (Budegt Projection)

Task 5 (Project Execution)

Phase 3

Performance Evaluation

Task 5 (Project Execution)

Task 5 (Project Execution)

Controling

In the ARCI chart, the main responsibilities have been assigned to project leader and project leader will be responsible for overall project management

Budget Determination with Project Costs

Using the WBS of the Project

The first step in determining the associated budget of the project through the help of WBS of the project. In this, we first checked out the deliverables and their components which are approved to generate the deliverables. After that, we worked on cost estimation for every package of each WBS. In this way determining the associated budget became easier for us than determining the overall budget (Callahan, et.al 2011). After that, the obtained information has been used for aggregating costs estimates associated with the project and setting costs baselines.

In determining this cost for the project, we have looked over several things/components and gone through below steps for determining the cost associated with the project.

First of all, we defined the direct labor cost of our project but we don't have this cost because our project is of small scale and it is performed by students which have been assigned as an assignment.

At the second step, we estimated the material costs of the project. In these costs, we estimated the cost of the material. In our material costs, we have identified several costs for different things which are documentation cost, printing cost of pages, travel cost of visiting a different place (dues) and some other costs.

Beyond that, we also estimated and set out some extra costs for equipment which can be used at any stage of the project but we are not clear about that at the time.

Other than above estimations, we should have to set an estimate the cost of the software which can be used in the project. The software may be MS Project which can be used and its cost may occur.

According to (Callahan, et.al 2011), project office and estimation of its cost is also an important component but we don’t need any office or specific location to perform our work because we are in small scale project, so this cost has been ignored in the process.

Cost Aggregation

Cost of our project has been aggregated by summing the cost of every individual work package to account up to our project level. This has been achieved by summing estimating lower costs associated with the project within the breakdown structure (Callahan, et.al 2011). In this aggregation, we also considered reserve analysis and funding limit reconciliation.

Ways of Risk Identification

There is a number of ways which can be used by a project leader, project head or project manager for identification of possible risks which are highly associated with the project and can affect the results of operations of project negatively. But! In our project (a small level project) there are three ways have been used to identify possible risks. These ways are described in enough detail below.

Brainstorming

Brainstorming is the most usable and common way which enables the manager to identify possible risk which may occur during the project. This technique involves the process of working together to identify possible risks. Brainstorming encourages free-flowing conversation among a group of people who are knowledgeable about the project (Martinelli, et.al 2017). It is also the best way to identify the key controls for the identified risks so that it becomes more easy for the project manager to resolve an issue and eliminate risk before it occurs.

Checklist

After brainstorming, the checklist is considered as the most useful and best way of identifying project risks. The checklist can be used by the project manager to identify possible risks associated with the project. It (checklist) is the pre-populated list of risks which have been developed usually from past and realistic experiences. It is developed from the result of any previous assessment or from a previous happening or incident(s) (Martinelli, et.al 2017). The project manager can prepare a checklist of key controls in his / her list to control effectiveness. This is the most realistic way through which a project manager can identify all possible risks because this checklist has been developed from past experiences which had happened earlier.

Cause and Effect Diagram

After above mentioned (two) ways which can be used by project managers for risk identification, the next and most usable & realistic way is cause and effect analysis/diagram. Cause and effect are one of the powerful tool /ways. The project manager can use this way or technique to identify the causes or reasons which may lead to creating risk(s) (Martinelli, et.al 2017). In this way, if a project manager or project head can identify or address the reasons or causes so that he or she can eliminate and reduce the risks and their possibilities of happening.

References

Callahan, K. R., Stetz, G. S., & Brooks, L. M. (2011). Project Management Accounting : Budgeting, Tracking, and Reporting Costs and Profitability (Vol. 2nd ed). Hoboken, N.J.: Wiley. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=382100&site=eds-live&scope=site

Martinelli, R. J., Waddell, J. M., & Rahschulte, T. (2017). Projects Without Boundaries : Successfully Leading Teams and Managing Projects in a Virtual World. Hoboken, New Jersey: Wiley. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=1486480&site=eds-live&scope=site

Burke, R., & Barron, S. (2014). Project Management Leadership : Building Creative Teams (Vol. Second edition). Hoboken, New Jersey: Wiley. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=nlebk&AN=702739&site=eds-live&scope=site

Clark, K. B. (1989). Project scope and project performance: the effect of parts strategy and supplier involvement on product development. Management Science, 35(10), 1247-1263.