Project Management

Project Management Name Professor Class Date Project Management Table 1: Cost-Benefit Analysis Matrix t=0t=1t=2t=3t=4t=5One-time CostsReplacement costs(xxx)Recurring CostsPay slip costs(xxx)(xxx)(xxx)(xxx)(xxx)Costs for Management reports(xxx)(xxx)(xxx)(xxx)(xxx)Postage and Mailing Costs(xxx)(xxx)(xxx)(xxx)(xxx)Advisory Costs(xxx)(xxx)(xxx)(xxx)(xxx)BenefitsReduced costsxxxxxxxxxxxxxxxReduced IRS PenaltiesxxxxxxxxxxxxxxxSavings from payroll systems maintenance costsxxxxxxxxxxxxxxxSavings from technological costsxxxxxxxxxxxxxxxIncreased productivityxxxxxxxxxxxxxxxNet (F)(xxx)xxxxxxxxxxxxxxxP(xxx)xxxxxxxxxxxxxxxNPVxxxROIxxx Risks associated with Integration of a New Payroll System Outsourcing of the payroll services will be faced by some risks. The first risk associated with outsourcing involves the access of private information of the employees to third parties. In outsourcing of payroll services, a firm transfer important HR information to a third party. Some managers and business experts argue that the transfer of private information of the workers to third parties is insecure (Pandey, 2011, p. 1). The other risk is that the employees will be opposed to an outsourcing program because it will involve a transfer of their private information from the company. This can therefore result to wrangles between the managers of an organization and the employees. The other risk is that not all payroll-outsourcing firms are successful. In this regard, a firm can outsource the services from an incompetent firm and therefore problems maybe experienced in processing the salaries of the employees. This can lead to the loss of experienced workers, which is a disadvantage to the organization. Even if the cost-effectiveness of the program may be high, outsourcing of payroll system may not be sustainable and hence a firm can reconsider its decision in the end. This is risky to an organization because the management may appear to be incompetent, which can affect the stability of an organization. Outsourcing of payroll services means that the HR department loses track with the progress of the worker, which is risky for the organization. It is important for the HR management to keep records of accomplishment of the workers of an organization in order to determine the progress and predict future behaviors of the workers. The project management team can undertake measures to minimize the risks associated with outsourcing of payroll services. According to Albrecht (2001), the best risk management precaution will be to undertake a thorough research in order to obtain the best outsourcing firm. The management should ensure that such a firm has conducted such tasks before and the results were satisfactory. The project management team can also seek referrals from players they trust in the industry who have outsourced payroll services successfully. Tasks needed to complete the Gantt chart For the project to be implemented effectively, it will be important to establish tasks and their timelines in order to form the Gantt chart. The tasks are shown in the table below: Table 2: Gantt chart Tasks TaskDurationInvitation of tenders for payroll outsourcing services and waiting for applicationsThree weeksEvaluating the applications, short listing potential firms, and sending invites for interviews One weekConducting the Interviews and selecting the best firmOne weekCommunication of the expectations of the firm on the outsourcing agencyOne dayHolding a joint meeting with the outsourcing firm and the senior management of the companyOne dayOfficial handing over of the payroll services to the outsourcing firmOne day Apart from Gantt chart, the project managers can use Program Evaluation and Review Technique (PERT) or the Critical Path Method (CPM) to manage a project. There are pros and cons associated with each of the methods and hence the indifference among the project managers on the best method. There are some advantages associated with use Gantt chart in relation to PERT in project management. For instance, time is explicit under Gantt chart model in which the relationship between one task and other tasks is well known (Ingram, 20...