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Running head: INTEGRATED MANAGEMENT PROJECT (IMP) Impact of Employee Turnover on Performance of the Organization-“A Case Study of Phoenix Power Company” Name of the Student: Student ID: Name of the University: Author’s note:
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1INTEGRATED MANAGEMENT PROJECT (IMP) Table of Contents Introduction......................................................................................................................................2 Company Background.....................................................................................................................2 Issue Identification...........................................................................................................................3 Evaluation of the Issue.....................................................................................................................3 Possible Solutions of the Issue........................................................................................................5 Impact of Various Project Management Theories and Techniques.................................................7 Conclusion.......................................................................................................................................9 References......................................................................................................................................11
2INTEGRATED MANAGEMENT PROJECT (IMP) Introduction There are various project management tools and factors for the implication of the effective project management works (Hornstein 2015). The use of the innovative project management tools and techniques implied with the continuation of the implied with the formation of the successive management of the works. The project management tools and techniques are very helpful for completing the works and formation of the innovative implication works. The implication of the project management tools like work breakdown structure, Gantt chart, risk management, operation management, and scope management (Heagney 2016). These tools would be helpful for taking care of the works of the project and integrating the alignment of the project succession. The following assignment has included the case study of Phoenix Power Company so that one of the probable issue is identified. The identification would help in analysis of the possible factors for the cause of the issue. The work identification done would help in forming probable strategies for dealing with the issue identified. The project management tools and techniques were helpful for taking care of the innovation works. The employee turnover on the organization is a major factor for developing the effective work alignment. The possible issue identification supports the formation of the effective strategies. Company Background Phoenix Power Company is a power generation company owning the Sur Independent Power Plant for the generation of the power for commercial use. The organizations of Oman India Fertilizer Company and Oman LNG plant terminal has been using the power generated at the power plant for their operations. Phoenix Power Company has been maintaining the power
3INTEGRATED MANAGEMENT PROJECT (IMP) plant since last 5 years for generating 2000 MW power. The following of the sustainable power generation practice at the power plant has helped the company for being famous in the power supply industry. The plant operates from 175 Km near of south east of Muscat (Oman). Issue Identification The major problem identified from the study of the operations and past reports of Phoenix Power Company is the increase of the turnover rate of the workforce. The problem identified has resulted in power generation and proper management of the work force in the organization. The possible issues has been growing ever since and it has resulted in many dire problem for the organization. The issue has affected the organization in terms of people, financial stability, market analysis, and strategy development. The compilation of the issue can form the effective work and stability hindrance for the organization. Evaluation of the Issue The problem identified for Phoenix Power Company is the increase of the turnover rate of the workforce and it has disturbed the organization financially too. The production have decreased and the strategies developed for the training and evaluation of staff and employees. The increase of turnover rate of work force had affected Phoenix Power Company and it had resulted in forming problem for the organization and effective project work completion. The section analyzes the impact of the issue on the factors of LMP, LP, and MCI for people. The financial stability, profit generation, profit, revenue, and financial condition of the organization was affected by the issues in market position, marketing strategies, and market stability, market growth, market stability, and market share. The probable operational issues was resulted by strategy development, operationalignment, and managementstrategies, strategicalfactors,
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4INTEGRATED MANAGEMENT PROJECT (IMP) implication analysis, and formation operations of the organization. The probable issue have affected the organization in various possible sectors like, SectorDescription of the sectionImpact of the issue of increase of the turnover rate of the workforce PeopleThe section analyzes the impact of the issue on the factors of LMP, LP, and MCI(Battisti2018).Thesection evaluatesthe impact on the people, teamandemployeesofthe organization.Itiscrucialfor developingthefinalstrategy implication works for dealing with the issue. The increase of turnover rate of work forcehadaffectedPhoenixPower Company from the people factor. It had resulted in forming problem for the organization and effective project work completion. The section analyzes the impact of the issue on the factors of LMP, LP, and MCI. The section evaluatesthe impact on the people, teamandemployeesofthe organization. Financial Aspect The section analyzes the impact of the issueonthefactorsoffinancial stability and profit generation (Kerzner 2018).Thesectionevaluatesthe impactontheprofit,revenue,and financial condition of the organization. It is crucial for developing the final strategy implication works for dealing with the issue. The increase of turnover rate of work forcehadaffectedPhoenixPower Company from the financial factor. It had resulted in forming problem for the organization and effective project work completion. The section analyzes the impact of the issue on the factors offinancialstabilityandprofit generation. The section evaluates the impactontheprofit,revenue,and financial condition of the organization. MarketingThe section analyzes the impact of the issue on the factors of market position, marketingstrategies,andmarket stability (Heldman 2018). The section evaluatestheimpactonthemarket growth, market stability, and market share. It is crucial for developing the finalstrategyimplicationworksfor dealing with the issue. The increase of turnover rate of work forcehadaffectedPhoenixPower Company from the marketing factor. It had resulted in forming problem for the organization and effective project work completion. The section analyzes the impact of the issue on the factors ofmarketposition,marketing strategies,andmarketstability.The sectionevaluatestheimpactonthe market growth, market stability, and market share. StrategyThe section analyzes the impact of the issueonthefactorsofstrategy development, operation alignment, and management strategies (Binder 2016). The section evaluates the impact on thestrategicalfactors,implication The increase of turnover rate of work forcehadaffectedPhoenixPower Company from the strategy factor. It had resulted in forming problem for the organization and effective project work completion. The section analyzes
5INTEGRATED MANAGEMENT PROJECT (IMP) analysis, and formation operations of theorganization.Itiscrucialfor developingthefinalstrategy implication works for dealing with the issue. the impact of the issue on the factors ofstrategydevelopment,operation alignment, and management strategies. The section evaluates the impact on thestrategicalfactors,implication analysis, and formation operations of the organization. Possible Solutions of the Issue The possible solution of the issue of increase in the turnover rate of the workforce for the Phoenix Power Company includes the development of the new human resource management policy, examining the financial implications, operational implications, marketing implications, and analyzing of the effectiveness of the new strategy. The implication of these solutions would help in ensuring that the organization gets the improved workforce management and power generation (Verzuh 2015). The explanation of the solutions is, Development of New human resource management policy: The development of the new human resource policy would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. According toEskerod and Jepsen (2016), the management of the human training facilities has decreased with the issue and it has resulted in decrease of the possible issues of the organization. The lack of power generations resulted in the overall loss to the company and performance issues. The organization needs to develop the new strategies for ensuring that the work resumes with improved performance and training of the work force. Examination the financial implications: The examination the financial implications would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. According toSchwalbe (2015), the management of the human training
6INTEGRATED MANAGEMENT PROJECT (IMP) facilities has decreased with the issue and it has resulted in decrease of the possible issues of the organization. The lack of power generations resulted in the overall loss to the company and performance issues. The organization needs to develop the new strategies for ensuring that the work resumes with improved performance and training of the work force. Examination the operational implications: The examination the operational implications would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. The development of the new human resource policy would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. The management of the human training facilities has decreased with the issue and it has resulted in decrease of the possible issues of the organization (Golini, Kalchschmidt and Landoni 2015). The lack of power generations resulted in the overall loss to the company and performance issues. The organization needs to develop the new strategies for ensuring that the work resumes with improved performance and training of the work force. Examination the marketing implications: The examination the marketing implications would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. The development of the new human resource policy would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. The management of the human training facilities has decreased with the issue and it has resulted in decrease of the possible issues of the organization (Marcelino-Sádaba, González- Jaen and Pérez-Ezcurdia 2015). The lack of power generations resulted in the overall loss to the company and performance issues. The organization needs to develop the new strategies for ensuring that the work resumes with improved performance and training of the work force.
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7INTEGRATED MANAGEMENT PROJECT (IMP) Analysis of the effectiveness of the new strategy: The analysis of the effectiveness of the new strategy would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. The management of the human training facilities has decreased with the issue and it has resulted in decrease of the possible issues of the organization (Lientz and Rea 2016). The lack of power generations resulted in the overall loss to the company and performance issues. The organization needs to develop the new strategies for ensuring that the work resumes with improved performance and training of the work force. Impact of Various Project Management Theories and Techniques The various project management theories and techniques include the usage of the work breakdown structure (WBS), Gantt chart, risk management, operation management, and scope managementfordevelopingandevaluatingthenewhumanresourcemanagementpolicy (Kerzner 2015). The policy would assist Phoenix Power Company for deploying the strategy effectively across the organization working stability for easing the works. The impact of the work was resulted by the formation of the successive alignment management. The project management theories and techniques would imply the significant work function development. The analysis of the impact of the tools and techniques for the implication of the new human resource management strategy for the organization is, StrategyDescriptionImpactonPhoenixPower Company WBSWBS is the tool developed for the listing of the work requirements in the project (Schlegelet al.2018). The analysis would employ the successive utilizationoftheactivitiesand formationoftheworks.Thetool wouldemploytheanalysisofthe issueanddeployingeffective The tool would help in forming the implication of the new policy and ensuringthatPhoenixPower Company would be able to deal with the issue of increase in turnover rate ofworkforce.WBSisthetool developed for the listing of the work requirementsindevelopingand
8INTEGRATED MANAGEMENT PROJECT (IMP) management of the works.evaluating the new human resource managementpolicy.Theanalysis wouldemploythesuccessive utilizationoftheactivitiesand formationoftheworks.The organizationwouldbeableto complete its operation. Gantt chartGantt is the tool developed for the schedulingoftheactivitiesinthe project(Hazır2015).Theanalysis wouldemploythesuccessive utilization of the time management for the completion of the activities and works. The tool would employ theanalysisoftheissueand deployingeffectivemanagementof the works. The tool would help in forming the implication of the new policy and ensuringthatPhoenixPower Company would be able to deal with the issue of increase in turnover rate ofworkforce.Ganttisthetool developed for the scheduling of the activitiesindevelopingand evaluating the new human resource managementpolicy.Theanalysis wouldemploythesuccessive utilization of the time management for the completion of the activities and works. The organization would be able to complete its operation. Risk Management RiskManagementisthetool developed for the management of the risk in the project (Kerzner 2017). Theanalysiswouldemploythe successiveutilizationoftherisk management activities and formation of the mitigation strategies. The tool wouldemploytheanalysisofthe issueanddeployingeffective management of the works. The tool would help in forming the implication of the new policy and ensuringthatPhoenixPower Company would be able to deal with the issue of increase in turnover rate of workforce. Risk Management is thetooldevelopedforthe managementoftheriskin developing and evaluating the new human resource management policy. Theanalysiswouldemploythe successiveutilizationoftherisk management activities and formation ofthemitigationstrategies.The organizationwouldbeableto complete its operation. Operation Management OperationManagementisthetool developed for analysis of the work requirementsintheproject (Burtonshaw-Gunn2017).The analysis would employ the successive utilization of the development of the operationmanagementworks.The tool would employ the analysis of the The tool would help in forming the implication of the new policy and ensuringthatPhoenixPower Company would be able to deal with the issue of increase in turnover rate ofworkforce.Operation Management is the tool developed for analysis of the work requirements
9INTEGRATED MANAGEMENT PROJECT (IMP) issueanddeployingeffective management of the works. in developing and evaluating the new human resource management policy. Theanalysiswouldemploythe successiveutilizationofthe developmentoftheoperation managementworks.The organizationwouldbeableto complete its operation. Scope Management ScopeManagementisthetool developed for the listing of the scope (in scope and out of scope) in the project (Andler 2016). The analysis wouldemploythesuccessive utilizationoftheactivitiesand formationoftheworks.Thetool wouldemploytheanalysisofthe issueanddeployingeffective management of the works. The tool would help in forming the implication of the new policy and ensuringthatPhoenixPower Company would be able to deal with the issue of increase in turnover rate of workforce. Scope Management is the tool developed for the listing of the scope (in scope and out of scope) in developing and evaluating the new human resource management policy. Theanalysiswouldemploythe successive utilization of the activities andformationoftheworks.The organizationwouldbeableto complete its operation. Conclusion The following assignment had included the case study of Phoenix Power Company and it helped in analysis of the possible factors for the cause of the issue. There were various project management tools and factors like work breakdown structure, Gantt chart, risk management, operation management, and scope management for the implication of the effective project management works. The tools had helped in forming the implication of the new policy and ensuring that Phoenix Power Company would be able to deal with the issue of increase in turnover rate of workforce. The identification had helped in analysis of the possible factors for the cause of the issue. The employee turnover on the organization was a major factor for developingtheeffectiveworkalignment.Thepossibleissueidentificationsupportedthe
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10INTEGRATED MANAGEMENT PROJECT (IMP) formation of the effective strategies. The project management tools and techniques were very helpful for completing the works and formation of the innovative implication works. The work identificationdone had helpedin formingprobablestrategiesfor dealingwith theissue identified. The project management tools and techniques were helpful for taking care of the innovation works. The completion of the report helped in developing strategies of implying project management methodology, issue management, risk assessment, quality management, and control strategies for dealing with the issue of Phoenix Power Company. The final report had developed the some solutions like new human resource management policy development, examine the financial implications, examine the operational implications, examine the marketing implications, and analyzing the effectiveness of the new strategy for dealing with the issue of increase in turnover rate of the workforce. The development of the new human resource policy, examination the financial implications, examination the operational implications, examination the marketing implications, and analysis of the effectiveness of the new strategy would help in dealing with the issue of the increase in the turnover rate of the workforce for the Phoenix Power Company. The lack of power generations had resulted in the overall loss to the company and performance issues. The organization had developed the new strategies for ensuring that the work resumes with improved performance and training of the work force.
11INTEGRATED MANAGEMENT PROJECT (IMP) References Andler, N., 2016.Tools for project management, workshops and consulting: a must-have compendium of essential tools and techniques. John Wiley & Sons. Battisti, C., 2018. Unifying the trans-disciplinary arsenal of project management tools in a single logical framework: Further suggestion for IUCN project cycle development.Journal for Nature Conservation,41, pp.63-72. Binder, J., 2016.Global project management: communication, collaboration and management across borders. Routledge. Burtonshaw-Gunn, S.A., 2017.Risk and financial management in construction. Routledge. Carstens,D.S.,Richardson,G.L.andSmith,R.B.,2016.Projectmanagementtoolsand techniques: A practical guide. CRC Press. Eskerod, P. and Jepsen, A.L., 2016.Project stakeholder management. Routledge. Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute. Golini, R., Kalchschmidt, M. and Landoni, P., 2015. Adoption of project management practices: Theimpactoninternationaldevelopmentprojectsofnon-governmental organizations.International Journal of Project Management,33(3), pp.650-663. Hazır, Ö., 2015. A review of analytical models, approaches and decision support tools in project monitoring and control.International Journal of Project Management,33(4), pp.808-815. Heagney, J., 2016.Fundamentals of project management. Amacom.
12INTEGRATED MANAGEMENT PROJECT (IMP) Heldman, K., 2018.PMP: project management professional exam study guide. John Wiley & Sons. Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity.International Journal of Project Management,33(2), pp.291- 298. Kerzner, H. and Kerzner, H.R., 2017.Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Kerzner, H., 2015.Project management 2.0: leveraging tools, distributed collaboration, and metrics for project success. John Wiley & Sons. Kerzner, H., 2017.Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons. Kerzner, H., 2018.Project management best practices: Achieving global excellence. John Wiley & Sons. Lientz, B. and Rea, K., 2016.Breakthrough technology project management. Routledge. Manole, M. and Avramescu, M.Ş., 2017. Comparative Analysis of Agile Project Management Tools.Academy of Economic Studies. Economy Informatics,17(1), pp.25-31. Marcelino-Sádaba,S.,González-Jaen,L.F.andPérez-Ezcurdia,A.,2015.Usingproject managementasawaytosustainability.Fromacomprehensivereviewtoaframework definition.Journal of cleaner production,99, pp.1-16. Martinelli, R.J. and Milosevic, D.Z., 2016.Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons.
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13INTEGRATED MANAGEMENT PROJECT (IMP) Martinelli, R.J. and Milosevic, D.Z., 2016.Project management toolbox: tools and techniques for the practicing project manager. John Wiley & Sons. Schlegel, E.F.M., McLeod, K.B.D. and Selfridge, N.J., 2018. Practical Tips for Successful Implementation of Educational Innovations: Project Management Tools for Health Professional Educators.MedEdPublish,7. Schwalbe, K., 2015.Information technology project management. Cengage Learning. Verzuh, E., 2015.The fast forward MBA in project management. John Wiley & Sons.