Wk 5 - Project Management Plan

Performance, Compensation, and Rewards

Qiana Reynolds University of Phoenix CPMGT/301 December, 14, 2020 Gary Denney

Introduction

● Scenario

● Performance Measurement Methods ○ Management by Objectives

○ 360 Degree Feedback

○ Graphic Rating

● Financial Compensation/ Rewards

● Human Resource Plan

● Conclusion (Rabha, 2020)

Scenario

Acme Shipping and Warehouse

● Outdated Shipping Software ● Hired Project Management

Team ● Utilize In-House Employees (Systemation, 2019)

Performance Measurement Methods: Management by

Objectives ● Goals oriented ● Employee & Manager

Collaboration ● Multiple Feedback Discussions

(Quantum Workplace, 2020)

Performance Measurement Methods: 360 Degree Feedback

● Feedback from Peers ● Feedback from Managers ● Influential to Job Performance(DeCarlo, 2018)

Performance Measurement Methods: Graphic Rating Scale

● Rating Scale 1 to 5 ● Good for production-based

company ● Done Confidentially(Shepherd, 2016)

Financial Compensation/ Rewards

● Pay rate stays the same ($20 - $25 per hour)

● Overtime Pay ($30 - $37.5 per hour)

● Yearly Bonus ● Profit-Sharing Program(Porter, 2019)

Human Resources Plan

(Covey, 2020)

Conclusion

● Performance Measurement Methods are key ● Utilization of Financial Compensation/Rewards inhibits positive

performance ● HR plan contributes growth and profitability

(Carder, 2017)

References Carder, E. (2017). Ad agencies increase profit margins despite lower fees and higher staff cost. https://www.campaignlive.com/article/ad-agencies-

increase-profit-margins-despite-lower-fees-higher-staff-costs/1451159

Covey, S. (2020). Goal setting for team success. https://www.workbetterindia.com/our-solutions/ssb/leadership-development/goal-setting-for-

team-success/

DeCarlo, L. (2018). Evaluating employee performance. https://rz.mdrt.org/html/2018hg-evaluating-employee-performance/

Kissflow Inc. (2020). 6 performance appraisal methods for the modern workforce. https://kissflow.com/hr/performance-management/employee-

performance-appraisal-method/

Porter, S. (2019). Benefits and rewards - why employees want more. https://www.ngahr.com/blog/benefits-and-rewards-why-employees-want-more

Quantum Workplace. (2020). What every leader should know about employee performance. https://www.quantumworkplace.com/employee-

performance

References Rabha, M. (2020). 11 tips for better and positive work performance. https://blog.vantagecircle.com/work-performance/

Shepherd, D. (2016). Top methods and techniques for evaluating employee performance. https://www.assessteam.com/top-methods-and-

techniques-for-evaluating-employee-performance/

Systemation. (2019). 5 must-have skills for project manager. https://www.systemation.com/5-must-have-skills-for-project-managers/?

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