Project Management

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Bonus system for Project Manager

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Zaur Ahmadov Project Manager, Sales Solution| IT Baku, Baku, Azerbaijan
Hello All, Does anybody used result-driven project bonus system for Project Managers? any template, forms appreciated.

thanks.
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Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
Zaur -

What results are you referencing? If those relate to the outputs of the project that is one thing, but achieving the outcomes (e.g. benefits) from a project is rarely something a PM can be held accountable for...

Kiron
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1 reply by Zaur Ahmadov
Jan 27, 2021 8:20 AM
Zaur Ahmadov
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Thanks for feedback Kiron. I look for KPI identification criteria's for PM's who manage projects.
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Zaur Ahmadov Project Manager, Sales Solution| IT Baku, Baku, Azerbaijan
Jan 27, 2021 8:12 AM
Replying to Kiron Bondale
...
Zaur -

What results are you referencing? If those relate to the outputs of the project that is one thing, but achieving the outcomes (e.g. benefits) from a project is rarely something a PM can be held accountable for...

Kiron
Thanks for feedback Kiron. I look for KPI identification criteria's for PM's who manage projects.
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George Freeman Thought Leader | Author | Architect| Florida, United States
Zaur,

I would recommend looking at an MBO (Management by Objective) program and keep the Measurements/KPI’s at a strategic level, as the goal is to incentivize not to paralyze.

These types of programs have been around for some time, so you will find ample reference on the internet. They were becoming quite popular in the early 2000’s, but were pulled-back by enterprises during the “Great Recession 2007-2009,” and never fully came back into vogue – just like my pension.
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Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
Zaur -

To add to George's feedback, you could use a combination of quantitative (e.g. EVM performance) and qualitative (e.g. stakeholder & team satisfaction surveys) methods to evaluate PM performance. However, it is important to ensure that the measures are balanced and don't punish PMs for things which were out of their control.

Kiron
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Sergio Luis Conte Helping to create solutions for everyone| Worldwide based Organizations Buenos Aires, Argentina
In our case we use a system that is tied to organizational objectives mainly to those that are created from vision of the company. So, to take an example, if you go to Pepsico website and you see our Vision, Mission and mainly Values all our objectives are fully aligned with them. To give you an example, Pepsico is strongly committed with planet conservation and people health then into our projects we have drivers to it and then we have performance objectives, for each project by mainly personal objectives, aligned to it too.

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