Project Management Performance and Value †MyAssignmenthelp.com

Question: Discuss about the Project Management Performance and Value. Answer: Intrduction: There are a number of different tools for the purposes of measurement of the performance such as the organisational and the employee performance evaluations. There are many that are considered to be the part of the enterprise systems and then there are some for the standalone programs. The development of the metrics of the performance usually includes the following: Establishment of some of the critical processes along with the customer requirements Identification of the specific and the quantifiable outputs of work Establishment of the targets against which the results could be scored There are many of the attributes that prove to be useful when it comes to the assessment of the employee and the quality of the management. Among others, there is cost effectiveness. It is defined as the outcome which is divided by the input and then signifies the efficiency of the performance of the organisation (PM solutions, 2017). Improvement in the effectiveness of the employees. It is termed as being the continuous process wherein the managers and the employees come together and join hands and monitor and review the objectives for which they are working. The work objectives are reviewed and the overall contribution to the organisation is also reviewed (HR council, 2017). The measurement of the business performance is of an utmost importance and has a variety of uses such as monitoring and controlling of the costs, driving improvement, maximise in the effectiveness of the improvement efforts, achievement of the alignment with the goals and the objectives of the organisation and rewarding and disciplining the management. One of the scholars views the measurement of the business as being the tool used for balancing the 5 major tensions that exists within the company. The tensions include the balancing, of the profit, growth and control, balancing of the results that are short term in nature set as against the long term capabilities along with the various growth opportunities, balancing the opportunities and the attention, balancing the different motives of the human behaviour and balancing the different expectations of the different constituencies. The different ways through which the performance could be measurement through the way of cost effectiveness include the balanced scorecard, activity based costing, economic value added method, quality management, the analysis of the customer values, action profit linkage model. The reference models include the supply chain management and the development of the new product (Semantics scholar, 2017). References: Hrcouncil.ca. (2017).Performance Management | Keeping the Right People | HR Toolkit | hrcouncil.ca. [online] Available at: https://hrcouncil.ca/hr-toolkit/keeping-people-performance-management.cfm [Accessed 28 Aug. 2017]. pdfs.semanticscholar.org. (2017).Why Measure Performance? Different Purposes Require Different Measures. [online] Available at: https://pdfs.semanticscholar.org/f311/b46229f7e81fbf289ed2548aace868ec3610.pdf [Accessed 28 Aug. 2017]. www.pmsolutions.com. (2017).Measures of Project Management Performance and Value. [online] Available at: https://www.pmsolutions.com/audio/PM_Performance_and_Value_List_of_Measures.pdf [Accessed 28 Aug. 2017].