Influencing factors for deciding PM's renumeration
Denathayalan RamasamyChief Technology Officer| Atal Incubation Centre -CIICChennai, Tamilnadu, India
As a thumb rule, PMP remuneration should be 5 -10% of total budet they handle. But it may not be the same across countries or organizations. i feel the size of PMO, the effectiveness of PMO & dependency of Program/Portfolio plays another vital factor on deciding bonus or variable compensation factors?
How is it handled in your organization/country? What should Program/Portfolio manager consider for enriching their expertise? Saving Changes...
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Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
Remuneration is usually based on performance. Performance is your ability to meet stated personal and organizational objectives. I remember once having to explain to an employee that working overtime was not a performance objective and, thus, not worthy of a bonus. (An employee who can accomplish the work without overtime is performing better than the employee who needs the overtime.)
The tricky part, of course, is those objectives. People will work to meet those objectives, even to the detriment of the organization or the project. Case in point: a project manager that is paid on the ability to deliver all the project scope, on time and on budget, will not care about the morale of the project team.
As far as enriching your expertise, it doesn`t matter who you are: you goal is to become as much a T person as possible, rather than an I person. Instead of only specializing in one skill or aptitude, you want to complement your specialty with a broader, less detailed, knowledge of related, and not so related, areas. That's what universities try to develop in students.
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1 reply by Denathayalan Ramasamy
Apr 23, 2022 2:52 PM
Denathayalan Ramasamy
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i am contracting on social value of performance; who defines it?, is it measurable?; it is mutually agreed? how is it documented for changes?
In my opinion, it is diplomatic in developed countries. while it is dictative in developing countries. which calls for great resignation theory
Denathayalan RamasamyChief Technology Officer| Atal Incubation Centre -CIICChennai, Tamilnadu, India
Apr 22, 2022 8:40 AM
Replying to Stéphane Parent
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Remuneration is usually based on performance. Performance is your ability to meet stated personal and organizational objectives. I remember once having to explain to an employee that working overtime was not a performance objective and, thus, not worthy of a bonus. (An employee who can accomplish the work without overtime is performing better than the employee who needs the overtime.)
The tricky part, of course, is those objectives. People will work to meet those objectives, even to the detriment of the organization or the project. Case in point: a project manager that is paid on the ability to deliver all the project scope, on time and on budget, will not care about the morale of the project team.
As far as enriching your expertise, it doesn`t matter who you are: you goal is to become as much a T person as possible, rather than an I person. Instead of only specializing in one skill or aptitude, you want to complement your specialty with a broader, less detailed, knowledge of related, and not so related, areas. That's what universities try to develop in students.
i am contracting on social value of performance; who defines it?, is it measurable?; it is mutually agreed? how is it documented for changes?
In my opinion, it is diplomatic in developed countries. while it is dictative in developing countries. which calls for great resignation theory
...
1 reply by Stéphane Parent
Apr 26, 2022 12:21 PM
Stéphane Parent
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Both parties should define. That means, you should both take pain to make sure it is measurable. If it's not mutually agreed upon, what are you doing there? As for change management, that's something else both parties should define.
Remember the dictum: you don't leave a company, you leave a manager.
Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
Apr 23, 2022 2:52 PM
Replying to Denathayalan Ramasamy
...
i am contracting on social value of performance; who defines it?, is it measurable?; it is mutually agreed? how is it documented for changes?
In my opinion, it is diplomatic in developed countries. while it is dictative in developing countries. which calls for great resignation theory
Both parties should define. That means, you should both take pain to make sure it is measurable. If it's not mutually agreed upon, what are you doing there? As for change management, that's something else both parties should define.
Remember the dictum: you don't leave a company, you leave a manager. Saving Changes...
