Change Management - Cost Benefit Analysis And Project Plan For Fast Track Couriers Essay.

Option

Cost

Risk

Benefit

F/ MF

/ NF

Employee motivation

$10000

Disruption in operating activities

Well motivated personnel can come up with various benefits inclusive of better productivity, low absenteeism, low staff turnover, improvised relations in industry, improving business reputation in delivering in quality of products(Carnall, 2018).

F

Resistance to change

$15000

Delay in attaining schedules targets, overrun in budgets, higher costs due to insufficient communication, human resource and technology. Unavailability of resources, impact on customer as well as suppliers and stress.

There are multiple benefits of better change management; it helps in responding quickly to employee issues and customer demand (Hayes, 2018). In addition, it aids business by organizationaleffectiveness, less possibility of unexpected and unsuccessful change and risks. This change management facilitates communication, smooth operation of HR, better management of stakeholders and optimal training and development.

F

Risk/Barriers

Impact

Likelihood

Strategies to mitigate risk

The risks and barriers associated with the disruption is increasing dissatisfaction among employees and workplace issues.

There will be adverse impact of these risks if not mitigated such as improper execution of daily activities, employee resistance(Kerznerand Kerzner, 2017).

Moderate

To mitigate the risk of disruption while enhancing motivation, the firm must implement the strategy of managing the demand, powering the supply chain, appreciating employees, maintenance of personnel satisfaction and providing optimum training (Bromiley and et.al, 2015). It is crucial that initially business shapes the view of strategy, then shape platform and lastly shapes acts and assets. In addition, that the Fast Track seek continuous feedback and cheer up communication within workplace.

The risks and barrier in the pathway of resistance to change are several, and can result in poor communication and coordination as with the implementation of new technology significant amount of change is requirement and to coordinate existing aspects require efforts and a lot of strategies(Turner, 2014).

Negative impacts can be created, which are inclusive of resistance to change, failure of project. The major risks can be states as; people, benefits, processes and management. There can de drastic consequences to mismanaged change these can come in form of project level impact and organization level impact.

High

For overcoming the risk of resistance to change, the Fast Track will be required to consider team structuring to increase its potential, and then it must consider SMART goals and targets, and set plants to resolve the conflicts rapidly and being persuasive(Hopkin, 2018). It is also that business engages strategic innovation and creativity, and always stays supportive and affirmative to all involved individuals.

Stakeholders

Commitment

Concerns

Addressed by

Consultation

methods

Employees

The commitment of firm towards employees will be offering of best workplace environment and culture, making sure that they are satisfied with the job, with communicating often.  The firm must also speed up the execution process and measures attitudes, opportunities and costs timely(Hornstein, 2015).

Job insecurity and higher competence required to meet up the technological changes.

These issues can be addressed by discussing performance, respecting them, scheduling meetings and agreeing to mutual solutions.

Focus group and meetings, this will help in ensuring to retain a good snapshot of performance and operations.

Customers

The firm must ensure that the customer demand is managed and they are providing with best quality. It is also that firm consider customer participation and involvement and must make sure that customer is satisfied with rendered services with seeking constant feedback.

The concern of customers is to get reasonable quality at viable prices as compared to others.

These issues can be solved by customer involvement, getting feedbacks, providing affordable prices and best quality(Bradley, 2016).

Social media channels, customer surveys, investigation of complaints and user testing.

Investors

The commitment toward investor is that firm delivers best returns by using better operational approaches.

To get good returns on the amount invested by them.

These issues can be solved by meeting the expectation of investors.

Board meetings

Audience

Message

When

Communication

method

Person

Responsible

Employees

To create a win-win situation in order make them more competent, to improvise their professional growth and career along with the organizational growth.

In regular time intervals i.e. weekly and monthly meetings

Open meetings, E-mails, training, use of presentations and visuals while ensuring a positive environment(Matos Marques Simoesand Esposito, 2014).

Upper management

Investors

Highlighting more on sustainability, corporate image and quality, and making mutual agreements for retaining them on long-term basis.

In annual meetings

Monthly reports, providing P&L information and monthly conference call updates with investors.

Board of Directors

Who

Skills and

knowledge

When/where

How

Person

Responsible

Management

Technological skills, management skills, knowledge of using new technologies with productivity and competence.

In-house and prior to the implementation of new technology

These will be done through providing presentations and handling them tasks and delegating responsibilities to them.

Presentation will be provided by the technology provider

Employees

Communication skills, technical skills, decision making and problem solving skills.

In-house and before and after  the implementation of new technology

These training and education will be provided by integrating technical training and personal development alongside(Goetsch and Davis, 2014). On the job-training and constant education will be given by suing formal or traditional approaches.

Expert will be recruited for providing development, opportunities better training and guidance

Measurement of success

Strategy element

Measures

Change goals

Tracking the activities of change management, while testing training and effectiveness of organization. Along with this, communication will be often measure while considering the performance improvements.  

Change impacts

Likelihood of impacts will be reduced as more as possible by adapting successive measures such as planning, resourcing, communicating and executing(Abele and et.al, 2015).

Project management

Measures are inclusive of costs, variables, scope, scheduling and security.

Stakeholder management

A consultative and co-operative approach will be integrated to connect with stakeholder and arrive at mutual decisions

Communication

Strong collaborations, engaging employees, setting benchmarks and considering the employee performance and profile (Bromiley and et.al,  2015).

Education

Stimulating learning, efficiency, knowledge and information

Cost benefits

Setting decisions, forming goals and implementing the type of analysis.

Risk management

Diversification, forecasting, transferring, reducing and controlling the risks and costs.