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Replytodiscussion.docxRahul Pulimamidi
Week 3: Question 1
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Executive sponsor provides vital support in every project success. He is the individual or group that provides financial resources to the task. While giving resources is essential, the full job of the sponsor is significantly more comprehensive. Executive sponsor directly in initial phases of the project planning in resource allocation. Executive sponsor and the project manager will ideally be working closely from the initial phase to finish phase of the project, both need a reasonable comprehension of their operations. The executive sponsor needs to take distinct and frequently opposing stakeholder interests and arrange a shared opinion that all stakeholder can approve on and team up to communicate (Crawford, Brett, 2001).
Executive sponsors should hold high-level state executive positions with the goal that they can guarantee the organizational engagement to give the support expected to finish the project and the senior management's suitable degree of attention for the project. Although the executive sponsor has an essential impact on both organizational project executives and project governance, these regions have only recently picked up influence in the literature on project management. Along these lines, no standards evaluate the executive sponsor's role directly exist (Cooke-Davies, Crawford, Hobbs, Labuschagne, & Remington, 2006).
Formalizing and giving instruction on the sponsorship role and duties are both fundamentally identified with senior management's opinion of the manageability of an executive sponsor. No significant relationship exists between the prevalence of the sponsorship role and project management value results. These outcomes expand our perception of the significance of the sponsorship project and give realistic direction to improve the support for project success.
Reference:
Crawford, L., & Brett, C. (2001). Exploring the role of the project sponsor. In Proceedings of the PMI New Zealand Annual Conference. PMINZ Wellington New Zealand.
Cooke-Davies, T., Crawford, L., Hobbs, J. B., Labuschagne, L., & Remington, K. (2006). Exploring the role of the executive sponsor. Paper presented at PMI® Research Conference: New Directions in Project Management, Montréal, Québec, Canada. Newtown Square, PA: Project Management Institute.
Sri Ranganath Seelam
Chapter 6 - Week 3 – Question 2
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There are various types of metrics that need to be gathered in policy development, program controls, monitoring, auditing and enforcement for determining the level of employee compliance, its impact on key operational areas and progress made towards established business objectives and they entail; first, revenue per employee which is a metric that helps managers to be in a position of finding out the value that their employees have for the organization. According to this metric, employees on average should help the organization in producing more revenue thus justifying their employment. It is measured by dividing total revenue with the total number of employees working within the organization.
In addition, there is the cost per hire metric which is used in measuring the expenditures an organization incurs in recruitment of employees. According toBoudreau, J. W., & Ramstad (2001) the estimated cost per hire in most organizations is between $ 4,000 to $ 5000. In measuring cost per hire, three main items need to be put into consideration; recruiting costs, training costs and costs of applicant tracking system. Moreover, there is also the employee turnover which is used in finding out whether employees within the organization are cheerful or not. Various organizations have an employee turnover of more than 20%. Employee turnover is measured by dividing the total number of employee terminations by the average number of employees within the organization.
Another metric is health care cost per employee which is used by managers to determine the amount of budget the organization needs to spend on its employees’ health insurance costs. It is measured by dividing the total healthcare costs contributed by the organization to its employees’ healthcare premiums by the number of employees signed up for healthcare services. Lastly, there is the timesheet and scheduling match metric which helps managers in determining how closely the total hours scheduled are in line with the total number of hours worked. It is measured by dividing the number of hours scheduled with the number of hours worked.
References:
Boudreau, J. W., & Ramstad, P. M. (2001). Beyond cost-per-hire and time to fill: Supply-chain measurement for staffing.
Smallwood, R. F. (2014). Information governance: Concepts, strategies, and best practices (Vol. 574). John Wiley & Sons.
Regards,
Sri
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