Project Planning 2 Research Paper Example | Topics and Well Written Essays - 1000 words

Project Planning 2 - Research Paper Example Introduction Project planning is normally stressful to human and resource managers since there are many requirements including adequate resources, skilled staff and other tools important for the project completion. Also required is the organizing and communication of the project plan, scope and procurement activities as well as the breakdown structures necessary for the success of the program. This paper contains a memo that communicates the budget situation to the team members, ways of improving underperforming team members and the action plan to bring the project back to normal. Memo To: Team members From: Mary Tranquillo, Human resource head for the team Date: March 14, 2013 Subject: Budget situation It has come to my attention that some this project of human resource of revamping the employee compensation and the package has started to develop issues. It is so unfortunate since time is not on our side since we have already lost six weeks and seems like most of the members are not dedicated. I have also noted that some of the members are not keen with deadlines, and this is contributing to the much drag in our project. As a result, our budget looks to have been depleted faster than anticipated. We must bring this budget to track as a group. I strongly feel that there is lack of motivation in the group. As a form of encouraging the team members, there will be rewards for the best individuals who will perform best. This will include contests, bonuses, time off payouts and promotions. In addition, the group will also benefit by getting a 5% share of the total profits they contribute to the company. However, appropriate measures will be taken against the poor performing members of the team since we require an energetic team who are ready to contribute to the success of the team. Best, Mary. Ways to improve an underperforming team member Compensating for results: These are the benefits to employees from the company for the efforts employed which are either moneta ry or other benefits. Compensation plans should be designed in a manner that motivates and encourages the team members. Many plans include large incentive component including bonuses, trips, cars, commissions and stock options (Andris A., Zoltners, Prabha K. et al. 2001, 269). Compensation will be an easy thing to do especially if the work done is measurable and comparable. The best team member will be determined through the measurement of the individual performance where the results are compared and the one performing best is rewarded. Other forms of reward whose nature is personal, special and also unique rewards tend to be even motivating more than cash alone. In order to determine how much a team member will be compensated, different factors will be considered. These include the contribution of the team to the total earnings of the company and the type of industry. Also benchmarking among different industries is important so as to approximate the right amount or type of compensa tion (Andris et al. 2001, 281) Improving Team Member Accountability According to Berry (2001), team work is normally beneficial to the company, but underperformance of one member is a drawback to the team and this can be worse if the members tend to hold each other accountable. If the team member fails to undertake actions that are useful to the needs of the team, then team member accountability becomes an issue of concern. There