HR Strategy - Implementation & Evaluation

Question 1

Strategy Implementation

Answer 1

When strategic intent is translated into specific plans* of *action

• Operational budget
• Strategic budget
• Communication strategy
• Project management stages
  
  • Plan
    
    • Project scheduling
      
      • Critical path analysis
      • Gannt chart
      • Assemble a team
  • Execute
    
    • ​Establish and maintain communication
    • Provide leadership
    • Clear away obstacles to progress
    • Manage internal and external stakeholders
    • Monitor and control progress
  • Close
    
    • ​​Evaluate if the project yielded desired results
• Project management
  
  • Lean project management
  • Six Sigma project management
  • Agile project management
  • Critical chain project management
• Measure performance
  
  • Effectiveness
  • Efficiency
  • Impact
• Key Performance Indicators (KPI)

Question 2

Two different types of budgets in strategy

Answer 2

Operational budget

Strategic budget

Question 3

“Operational Budget” includes what type of expenses

Answer 3

1. Talent acquisition
2. Training & Development
3. Compensation and benefits
4. employee and labor relations
5. Health, safety, and security
6. Information technology
7. Planning
8. Philanthropy

Question 4

“Strategic Budget” includes what type of expenses?

Answer 4

Funds projects that are aligned with the organizations strategic goals

Question 5

5 elements needed for effectively implementing a strategy

*Hint: Communication

Answer 5

1. Communication outward toward entire team
2. Communication inward to leaders
3. Leadership support of decisions made by subordinates
4. Flow of information across the Organization
5. Enough information to allow team members to connect their work to the strategy

Question 6

What are the three project stages?

Answer 6

Planning > Executing > Closing

• Planning
  
  • Work with stakeholders to define strategically aligned project objectives
  • Define the deliverables of the project
    
    • The product or service that the project “delivers” to stakeholders”
  • Create a project schedule
    
    • Critical path analysis
    • Gannt chart
    • Assigning teams
• Execute
  
  • Establish and maintain channels of communication
  • Provide leadership
  • Clear away obstacles to progress
  • Manage internal and external stakeholders
  • Monitor and control progress
• Close
  
  • Evalue if the project was carried out well and created ROI

Question 7

Describe methods:

Project scheduling and project management approaches

Answer 7

Project Scheduling

1. Critical path analysis
2. Gannt Chart
3. Assemble a team

​Project Management

1. Lean project management
   
   • Eliminating waste
2. Six Sigma project management
   
   • Quality
3. Agile project management
   
   • Uncertain environments
4. Critical chain project management
   
   • When there are limited resources (time, people, money, etc)

Question 8

Methods of project schedule creation

Answer 8

Critical path analysis

Gannt Chart

Assemble a team

Question 9

Gantt chart

Answer 9

Horizontal bar chart used to show a project plan and its progress over time.

Question 10

Critical Path analysis

Answer 10

Info about start and mandatory end dates, what task goes before the other and for what length

Question 11

Should the closing process for a project still happen if the project is canceled?

Answer 11

Yes

Question 12

Project Management Approaches

Answer 12

1. Lean project management
   
   • Eliminating waste
2. Six Sigma project management
   
   • Quality
3. Agile project management
   
   • Uncertain environments
4. Critical chain project management
   
   • When there are limited resources

Question 13

Lean project management

Answer 13

Focused on eliminating waste

Question 14

Six-sigma project management

Answer 14

Focuses on quality so that very few errors occur

Question 15

Agile project management

Answer 15

Used when a project is based

Question 16

Critical Chain project management

Answer 16

Resources can not be increased due to deadlines

Question 17

Bar chart

Answer 17

Question 18

Histogram Chart

Answer 18

Question 19

Pareto chart

Answer 19

Containes both bar chart and line diagram

Question 20

Scattergram

Answer 20

Question 21

Measure Strategic Performance

Performance data is gathered and compared to performance objectives.

These objectives should measure:

Answer 21

1. Effectiveness
2. Efficiency
3. Impact - Moving toward strategic goals? Making a difference?
   
   • A recruiting program should increase the number of candidates, but it should also increase the ratio of candidates who meet all criteria, who accept positions, and who receive positive first-year evaluations.

Question 22

Key performance indicators (KPIs)

Answer 22

Quantifiable measures of performance used to gauge progress toward strategic objectives or agreed standards of performance.

Question 23

Strategic Evaluation

Answer 23

Results must be measured against agreed metrics and communicated to the organization

Question 24

Communicating Results

Is it better to present data as a series of bullet points and spreadsheets

OR

Communicate the results of analyzing data as a narrative that will be supported by data

Answer 24

Communicate the results of analyzing data as a narrative that will be supported by data

Question 25

Variance Analysis

Answer 25

Used to compare actual against planned used of resources (e.g. staff hours, expenses) and time line. Difference between actual and planned behavior. This analysis is used to maintain control over a business. For example, if you budget for sales to be $10,000 and actual sales are $8,000, variance analysis yields a difference of $2,000.

Question 26

Outcome monitoring

Answer 26

The periodic measurement of the knowledge, behaviors, or practices that a program or intervention intends to change. While many global health programs are engaged in the practice of outcome monitoring, there are few available resources on the practice of outcome monitoring itself.