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Develop a 700- to 1,050-word Risk Management Plan in which you include the following:Potential risks for the project and for the portfolio to which the project belongsLikelihood and impact analysis of the identified risksA plan for managing responses to portfolio and project risksWrite a 350- to 525-word Project Control Plan in which you briefly discuss control mechanisms for this project.Create a 175- to 350-word introduction and executive summary for the plan, and place them at the beginning of your completed Project Management Plan.Format your project plan consistent with APA guidelines. scenario_3__creating_an_employee_incentive_program.docx Unformatted Attachment Preview Scenario 3: Creating an Employee Incentive Program Name Institution Creating an Employee Incentive Program Executive Summary Incentive Program Boosting employee morale is a vital element for a project that requires employees to show personal interest in the business. Besides, senior managements thought regarding employee incentive program and how it can boost employee morale is true sense Title IV of higher education Act of 1965 also support incentive program for employees. The Scope The first element is to identify how many employees are absorbed at the work. Secondly, incentive programs usually only be given to employees who meet specific qualifications and skills. Therefore, senior management will scrutinize each employee to determine the ones who are eligible for incentive program. The reason for a decline in employment l will also be a vital aspect to analyze. Financial capability of the business will also determine the incentive program needed to boost employee morale. Needs for the Stakeholders As stipulated in the scope of the project, the stakeholders need to analyze the eligibility of employees for the incentive program. Secondly, stakeholders need to analyze the reason for a decline in employment. the third aspect is analysis of the financial capacity of the business to consider incentive program. Determination of the bonuses for Junior, Senior, and Executive employees should also be an element that needs to be stipulated by the stakeholders. Tools and Techniques Qualification list for incentive program. 1. Human resource department that is qualified to analyze the qualification required for the incentive program. 2. Procurement department that is qualified to handle incentive each employee who qualifies or gets disqualified for the program. Main Activities for the Implementation of Factors that Can Make an Employee to lose the Program Eligibility ● Analysis of the Eligibility of Employees for the incentive program ● Qualification required for new employees. ● Violations that can make an employee to seize being granted the incentives. ● Aspects that the employees who lose their eligibility need to meet before being considered for the program. Attributes that Employees Need to Portray Procurement ● A boosted morale ● The cost of the program ● Ready to solve problems founded ● How to minimize the cost ● Showing personal interests in the ● Reasons for minimization. business Communication Management Plan Strong communication is essential for a successful launch of a project. There are various ways of communicating the project plan as well as its status and completion. When designing the communication plan, it is important to understand the level of interest and communication needed for the different recipients. The following table identifies the project and portfolio stakeholders and their influence on the project scenario developed in week 2. COMMUNICATION MANAGEMENT PLAN Information Description Method/Medium of Communication Relevant Stakeholders Receiver Sender Name Employee Incentive Program Email Employees Employee Incentive Program Email & Face to Face meetings Guidelines set by the salaries board. Email Memo Distribution Reasons To ensure the communication gets to the employees in a timely fashion. Frequency Name Incentive Project Program Manager. Twice a week The To ensure the Organization information gets to the relevant officials in a timely manner and allow room for deliberations. Incentive Project Program Manager Daily. Employees The Organization Weekly To ensure that the employees receive all pertinent information regarding the reason behind the organization failure to provide bonuses and explain the need for the incentive program. The communication plan aligns each stakeholder with the relevant communication medium or technique that is easily accessible by the stakeholder and which can be accessed in a timely fashion. The frequency of communication is dependent on the frequency of the shareholder in accessing the medium/method of communication described in the communication plan above. Why the methods identified are effective The methods of communication identified above are the most effective with respect to the information being disseminated and the availability of the communication medium for each given stakeholder. Employees all have access to emails and have a tendency to access them frequently due to the availability of internet. In this way using emails as a medium of communication is very effective as it ensures the employee gets the information quickly and in a timely fashion. Face to face meetings are also an effective medium of communication as they allow room for instant feedback regarding an issue and can be held at any time depending on the availability of the stakeholders (Petronio et al., 2013). Given the information description, the medium is appropriate as it gives room for deliberations between the stakeholders in order to arrive at a mutual consensus. Memos are also highly effective mediums of communication. They can be sent via email to all relevant stakeholders such as employees and they can also be printed out and posted on the notice boards of the relevant departments that the employees work in. Human Resource Plan When building any project portfolio, you must determine the company’s organizational strategy and goals. This order of planning by the stakeholders and portfolio manager outlines the decisions about which activities must be implemented in order to achieve success and deliver their vision. The choices made form a strategic portfolio will have a significant impact on the success of an organization. The human resource management and strategy are linked with the strategic objectives of the organization as well. Human resource objectives can play a huge role and have an impact on the company’s organizational goals such as their vision, profitability, reputation as a business, along with their ethics and principles. The human resources team also plays a role during the development of position descriptions as well as the review of policies. Without the necessary human capital to work the projects within the portfolio, there would be no projects to align to the organization’s strategic objectives. As the portfolio builds, human resource because a major part of moving and improving the organization’s strategies and business plans. Along with reviewing internal and external factors, human resources may have an impact on people management or human capital services. With growth, you also have more risk. People tend to want quick success and will take on multiple projects as an attempt to achieve their goals. Having this type of unbalanced portfolio can lead to low turnovers and poor investments. Making sure your portfolio transitions from one project to the next smoothly is a big part of the human resource team. There bottom line is aligning strategies while ensuring services support for the business to achieve their goals laid out within the portfolio. Reference Petronio, S., Torke, A., Bosslet, G., Isenberg, S., Wocial, L., & Helft, P. R. (2013). Disclosing medical mistakes: a communication management plan for physicians. The Permanente Journal, 17(2), 73. ... Purchase answer to see full attachment