Success (finance+planning)
What is a financial statement? What documents does it consist of?
a report provided by a company for its shareholders and investors that shows details of its financial situation. Documents: Balance Sheet, Income Statement and Cash Flow Statement
Define ‘external’ and ‘internal’ stakeholders
External - people and organisations that are outside of the business, they include suppliers, governments, customers, and creditors. Internal - anyone within the organisation, they include employees, owners, shareholders, and managers
What’s the purpose of performance appraisal?
to evaluate and document an employee's job performance, providing feedback on their strengths and areas for improvement. It helps in making informed decisions about promotions, compensation, training needs, and career development. Additionally, performance appraisals aim to align individual performance with organisational goals and foster employee growth and engagement
https://disk.yandex.ru/i/2J09AwV0DWfoHA
What is it? Why is it important in PM?
The PM (Project Management) Triangle, also known as the Triple Constraint, is essential because it helps project managers balance three critical aspects of any project: scope, time, and cost. By understanding and managing these constraints, project managers can ensure that project objectives are met while maintaining quality. It provides a framework for making informed decisions and trade-offs, facilitating better planning, resource allocation, and risk management throughout the project lifecycle
Describe a successful negotiator
Possible answer: A successful negotiator is someone who effectively balances assertiveness with empathy, actively listens to understand the other party's needs and concerns, and communicates clearly and persuasively. They are well-prepared, knowledgeable about the subject matter, and skilled in finding win-win solutions. Additionally, they remain calm under pressure, are adaptable, and can build strong relationships and trust with all parties involved
Name three elements of Balance Sheet
Assets (current and fixed); Liabilities (current and long-term debt); Equity
Explain what an ethical dilemma is
Students’ own answers. Module 4 class 5
Give an example of an organisation that went through change. Was the transition successful? Why / why not?
Students’ own answers.
Name and describe four phases of the project lifecycle
Planning, Initiating, Executing, Monitoring & Controlling, Closing.
More info – module 4 class 2
Describe the bargaining’ stage of negotiation
During the bargaining stage, parties exchange positions and make initial offers, followed by counter-offers and concessions to move the negotiation forward. If negotiations get stuck, they work to find common ground and overcome obstacles. Finally, they prepare to close by solidifying agreements and finalising terms.
Name four steps of setting goals
A clear vision, a clear deadline, establish the necessary resources, accountability, reviewing
Describe the most effective stakeholder engagement strategy
Module 3 class 3
Provide four negotiation tactics HR managers might use
1 conducts salary surveys to ensure competitive compensation. 2 implements performance-based pay structures tied to measurable goals. 3 provides professional development opportunities to increase employee value. 4 offers non-monetary benefits such as flexible work arrangements or wellness programs. 5 communicates transparently about the organisation's financial constraints. 6 highlights the employee's contributions and achievements within the company. 7 explores opportunities for career advancement or lateral moves within the organisation. 8 offering additional responsibilities or leadership opportunities. 9 provides avenues for feedback and dialogue between employees and management. 10 considers market trends and economic conditions to inform salary adjustments
Name three steps of risk management
Risk Identification, Risk Measurement, Risk Mitigation, Review & Monitoring.
Describe three types of negotiations
win-win; win-lose; independent advantage
more info - module 3 class 4
Name three elements of Income Statement and Cash-flow Statement
Income Statement - revenue, COGS; expenses, income. Cash-flow statement – cash from operating activities; cash from investing activities; cash from financing activities
Describe four stakeholder engagement strategies
Identifying your stakeholders; implementing clear and transparent communication; keeping stakeholders informed; including stakeholders in decision making process.
There are more strategies, module 3 class 3
Choose four risk management strategies and describe them, say where and when they are effective
Module 4 class 3
Explain the following:
the shock opener;
the take-it-or-leave-it challenge;
the all-have-to-check-with-head-office ploy;
the once-in-a-lifetime offer;
the salami technique.
Module 3 class 4. There are more tactics.
Choose one goal setting framework and say its:
- key components
- benefits
- drawbacks
- what it’s best for
Describe a real ethical dilemma between managers and employees
Students’ answers. Module 4 class 5
In a minute explain what these models are:
Bridges’, Lewin’s, ADKAR, Kotter’s
Module 4 class 1
Explain what Kanban, Waterfall, Agile, PMBOK, and Scrum are. Describe their pros and cons.
Describe four stages of negotiation
Preparation; Opening; Bargaining; Closing; Following up.
Module 3 classes 4-5 https://www.youtube.com/watch?v=OXCdAPBpE9g