Change management is referred as the procedure of evolving the extent of the project in manner by which it can satisfy the change in goals and requirements. It is engaged with the implementation of the structured methods and a structure that is pre-planned to keep up with the changes (Burke, 2017). One of the most significant theories of change management that is majorly used in the modern era is Lewin’s three phase model it engages a movement from one fixed state by a stage of activity and again to other fixed state. The three phases are namely; unfreeze, change and refreeze.
|
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. |
References
Abele, E., Metternich, J., Tisch, M., Chryssolouris, G., Sihn, W., ElMaraghy, H., Hummel, V. and Ranz, F., 2015. Learning factories for research, education, and training. ProcediaCiRp, 32, pp.1-6.
Bradley, G., 2016. Benefit Realisation Management: A practical guide to achieving benefits through change. Routledge.
Bromiley, P., McShane, M., Nair, A. and Rustambekov, E., 2015. Enterprise risk management: Review, critique, and research directions. Long range planning, 48(4), pp.265-276.
Burke, W.W., 2017. Organization change: Theory and practice. Sage Publications.
Carnall, C., 2018. Managing change. Routledge.
Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson.
Hayes, J., 2018. The theory and practice of change management. Sage.
Hopkin, P., 2018. Fundamentals of risk management: understanding, evaluating and implementing effective risk management. Kogan Page Publishers.
Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Matos Marques Simoes, P. and Esposito, M., 2014. Improving change management: How communication nature influences resistance to change. Journal of Management Development, 33(4), pp.324-341.
Turner, J.R., 2014. Handbook of project-based management(Vol. 92). New York, NY: McGraw-hill.
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