Create A 7 To 9 Slide Presentation Using The Scenario ✓ Solved

Create a 7- to 9-slide presentation using the scenario

Create a 7- to 9-slide presentation using the scenario from your Week 2 Individual assignment. The total slides for everything in the submission should not exceed 9 slides, including an introduction and summary slide. The introduction slide should outline what the presentation will contain. List, discuss, and apply three measurements you would use to measure performance for the project, focusing on measurements to be used during the project. Recommend appropriate financial compensation/rewards for the project team with detailed explanations. Explain your rationale for selecting these financial compensations over other options. Outline a human resource plan specific to your project with explanations. Include typed speaker notes on each slide, relevant media and visuals consistent with the content, and use bullet points on the slides, avoiding long sentences or paragraphs.

Presentation Overview

This presentation focuses on the management of a specific project scenario. It outlines the measurement of performance, financial compensation for the project team, and a tailored human resource plan, all detailing strategies aimed at optimizing project outcomes. Each section provides insights into the rationale behind each decision, emphasizing the need for tailored approaches in project management.

Introduction

The aim of this presentation is to explore effective performance measures, financial compensation strategies for the project team, and a comprehensive human resource plan tailored to our project's needs. By implementing these strategies, we strive to enhance team performance and project effectiveness.

Performance Measurement 1: Earned Value Management (EVM)

Earned Value Management (EVM) is a crucial performance measurement tool that integrates the project scope with schedule and cost elements. It provides an objective measure of project performance through key metrics such as Planned Value (PV), Earned Value (EV), and Actual Cost (AC). By regularly monitoring these metrics, project managers can assess whether the project is on track, ahead, or falling behind schedule.

Using EVM allows for timely identification of potential issues, enabling proactive management and corrective actions when necessary. It helps in maintaining project alignment with budget and timeframe, ensuring that resources are being utilized efficiently throughout the project lifecycle.

Performance Measurement 2: Key Performance Indicators (KPIs)

In addition to EVM, developing Key Performance Indicators (KPIs) specific to the project is essential for tracking performance. These KPIs may include measures such as:

• Project completion percentage
• Team productivity rates
• Customer satisfaction scores

Each KPI allows for tracking specific areas of project performance and helps identify areas needing attention or improvement.

Performance Measurement 3: Continuous Feedback Mechanism

Implementing a continuous feedback mechanism helps in capturing real-time performance insights from team members and stakeholders. Regular feedback sessions can help identify roadblocks and streamline processes to enhance team collaboration and motivation. This measure fosters an environment of open communication and adaptability, essential for project success.

Financial Compensation Strategy

To ensure high performance and motivation among team members, a well-defined financial compensation strategy is necessary. This strategy proposes a performance-based bonus system where team members could receive bonuses of up to 15% of their base salary based on achieving key project milestones. This incentive not only encourages timely project completion but also fosters a sense of ownership among team members.

Rationale for Compensation Selection

The choice of a performance-based bonus aligns team incentives with project goals. It differs from other compensation strategies that might simply offer fixed raises without regard to performance. This approach promotes accountability and encourages team members to exceed their targets, ultimately leading to improved project outcomes.

Human Resource Plan Outline

The human resource plan for this project includes the following elements:

• Project Roles and Responsibilities: Clearly defining roles such as project manager, team leads, and individual contributors to ensure accountability.
• Recruitment and Training: Employing targeted recruitment methods to find qualified individuals and planning training sessions to enhance team skills specific to project demands.
• Performance Review Mechanism: Establishing regular performance reviews to provide feedback, recognize achievements, and identify areas for development.

This tailored HR plan is designed to ensure that team members are not only skilled but also motivated and aligned with project objectives.

Conclusion

In summary, the effective measurement of performance, strategic financial compensation, and a well-formulated human resource plan are essential components for successful project management. By tailoring these strategies to meet the specific needs of the project, we can enhance productivity, maintain high levels of team morale, and achieve project success.

References

• Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.
• PMI (2021). A Guide to the Project Management Body of Knowledge (PMBOK® Guide). Project Management Institute.
• Schwalbe, K. (2019). Information Technology Project Management. Cengage Learning.
• Lock, D. (2020). Project Management. Gower Publishing, Ltd.
• Kloppenborg, T. J., & Petrick, J. A. (2019). Contemporary Project Management. Cengage Learning.
• Wysocki, R. K. (2019). Effective Project Management: Traditional, Agile, Extreme. Wiley.
• Verzuh, E. (2015). The Fast Forward MBA in Project Management. Wiley.
• Rodriguez, M. (2018). Project Performance Measurement: Lessons from the Field. International Journal of Project Management.
• Snyder, C. A., & Montag, G. A. (2020). Measuring Project Success: A Total Quality Approach. Project Management Journal.
• Harvard Business Review. (2018). How to Give Employees a Pay Raise. HBR Press.