Question

In: Mechanical Engineering

You are a manager and are asking a member of your team to take on an...

You are a manager and are asking a member of your team to take on an additional project. Would you pay the team-member at the completion of the project or would you begin to structure payments that become effective right from start of the project? What Behavioral concept would you draw on in structuring the payments?

Solutions

Expert Solution

If I am a manager and I give an additional project to my team the behavioral concept on structuring the payment which I apply is the part/monthly basis payment. In which part of payment which I will give to team members at the beginning of the project. After that releasing part of money on the completion of phases of the project. The part payment structure helps in completion of a project in a better way and one thing which is very important is in this structure the consistency is maintained in a work. I also explain you why i am choosing the part/monthly basis payment structure.

Suppose if I give the complete payment on the annual basis or completion of project from my point of view the team members are not active all the time, takes more time for the completion of project. So I think the part/monthly basis payment structure is good for the team and also better for the organisation.


Related Solutions

You are a member in a project team and the project manager asked you to purchase...
You are a member in a project team and the project manager asked you to purchase 4 laptops with certain specifications (Lenovo ThinkPad T series, Core i7, 2 Tera Storage, 32 GB Ram, 15.6" size, NVIDIA® graphics). How do you set your procurement management to do that?
you are a member in a project team and the project manager asked you to purchase...
you are a member in a project team and the project manager asked you to purchase 4 laptops with certain specifications (lenovo thinkpad T series,core i7,2 tera storage ,32 GB Ram ,15.6 size , NVIDIA graphics ) how do you set your procurement management to do that?
You are a member of a geological team in Central Africa. Your team comes upon a...
You are a member of a geological team in Central Africa. Your team comes upon a wide river that is flowing east. You must determine the width of the river and the current speed (the speed of the water relative to the earth). You have a small boat with an outboard motor. By measuring the time it takes to cross a pond where the water isnt flowing, you have calibrated the throttle settings to the speed of the boat in...
As a member of the international strategic management team in your company, you are assigned the...
As a member of the international strategic management team in your company, you are assigned the task of exploring potential foreign market entry. As part of your initial investigation, you want to know if there is a difference between developed markets and emerging markets with respect to the time required to start a business. You select 15 developed countries and 15 emerging countries. The time required to start a business, defined as the number of days needed to complete the...
As a member of the international strategic management team in your company, you are assigned the...
As a member of the international strategic management team in your company, you are assigned the task of exploring potential foreign market entry. As part of your initial investigation, you want to know if there is a difference between developed markets and emerging markets with respect to the time required to start a business. You select 15 developed countries and 15 emerging countries. The time required to start a business, defined as the number of days needed to complete the...
When setting up a new Team member (member of your firm) in QuickBooks Online Accountant, you...
When setting up a new Team member (member of your firm) in QuickBooks Online Accountant, you can assign which of the following user permissions to the new Team member. One or more of your selected options was incorrect. Selecting even just one incorrect option will earn no credit for this question. Please try again. Accounts receivable Accounts payable Accounts receivable, Accounts payable and Reporting Payroll You cannot assign user permissions to Team members. The Accountant Team member setup includes unlimited...
You are a project team manager, and your team members report each day to you to...
You are a project team manager, and your team members report each day to you to receive their primary assignments.   Not every team member is as efficient as another with particular kinds of tasks.    Time required (hours) to complete tasks Task Task complexity Team member 1 - Jones Team member 2 - Nguyen Team member 3 - Walpita Team member 4 - Manderas Task A Very high 3 5 4 3 Task A High 2 1 3 2 Task...
As a team member, what values do you adopt that may support or impede your team's...
As a team member, what values do you adopt that may support or impede your team's function? Consider the values you contribute when you are on a team. How does consensus building (effectively or ineffectively) facilitate or impede team function? Think of a scenario you (or someone you know) experienced as a member of an ineffective team. Address the following issues in your answer How would you incorporate biblical principles to effectively facilitate team function?
You are a member of your audit firm’s quality assurance team. The firm has recently been...
You are a member of your audit firm’s quality assurance team. The firm has recently been appointed as the auditors of Windmill Ltd, a company which manufactures a large range of diving and hang-gliding equipment. The company has been in operation for twenty years. The audit is not complicated as the systems are well established and the staff generally competent. One complication is that before any of the company’s diving equipment can be sold, it must be rigorously quality control...
You are a manager of a sales team that travels often. Your responsibility is to approve...
You are a manager of a sales team that travels often. Your responsibility is to approve expenses accrued during the trip. Your job is to draft a travel expense policy that covers what employees can or cannot expense. Please draft a document that covers the following: Expense limits for transportation (air fair, taxi, parking), hotel, and meals. Draft a section that discusses items that will not be covered as an acceptable expense
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT