Looking at lessons learned from the current economic crisis, one that stands out pertains to how people are incentivized in business. Banks with risky loan portfolios somewhere along the line had incentivized their people to fill their portofolios with these loans. Somewhere along the line, the incentives did not incorporate some of the risks involved. How does this play out in project and program management?
Given that projects are of limited duration, it is likely that our team members will come from different parts of the organization and often even from organizations. While we may not have total control over all of the incentives, it is important that we understand what incentives they bring to the project and then what incentives we can use as part of their participation on the project.
Incentives That A Team Member Brings To The Project
If someone comes to the project from another organization or from another part of the company, they bring with them a compensation structure that is already in place. They also bring with them a set of organizational relationships, and this whole package will influence the way they perform and prioritize on the project. It is important to understand these elements of what motivates each perspective member of our team, and then to keep these things in mind throughout the project. They may or may not be in sync with the incentives that we need and we need to manage accordingly.
Incentives Within The Project Team
There is another set of incentives that we, as project managers, can control. Such incentives, in part, are based on what we set as a measuring stick for project success. However, we not only need to think through parameters for measuring project success, but also parameters for measuring the value of individual contributions on the project.
There is also another factor, and that is, there are some intangible incentives that we can offer as part of our project. For example, we can play into a person’s needs or desires to work on certain parts of the project. This is also a form of compensation. We can also provide visibility and network-building opportunities to individuals on the project. There undoubtedly are other things we can do, but the point is that, there are things we can do and give to control and properly incentivize our project team members.
We need to learn some lessons from the current banking crisis, and one of the biggest of them is to be sensible in our incentivizing. We need to make sure that the motivation of each project team member is in the right direction to deliver a successful project.
______________________
John Reiling, PMP
Project Management Training Online
Lean Six Sigma Training Online
46 responses so far ↓
1 garment sales worldwide // Sep 9, 2011 at 4:24 pm
Check this out…
[...] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[...]……
2 samsung galaxy s2 // Sep 13, 2011 at 7:33 pm
Related……
[...]just beneath, are numerous totally not related sites to ours, however, they are surely worth going over[...]……
3 Symptoms Of Low Vitamin D // Oct 1, 2011 at 3:39 pm
Symptoms Of Low Vitamin D…
we like to honor many other internet sites on the web, even if they aren’t linked to us, by linking to them. Under are some webpages worth checking out…
4 rewfarasfvmsdr // Oct 4, 2011 at 7:27 am
Websites you should visit…
I really liked your blog, appreciate the great information….
5 home remedies for heartburn // Oct 4, 2011 at 2:01 pm
indigestion or heart attack…
So much useful content here…
6 brooks glycerin 8 // Oct 8, 2011 at 10:36 pm
Related……
[...]just beneath, are numerous totally not related sites to ours, however, they are surely worth going over[...]……
7 trendy hair extensions // Oct 11, 2011 at 8:21 pm
Great website…
Cool post, I really enjoyed reading it. I will check out your site for some more content on this subject….
8 mortgage rates // Oct 12, 2011 at 10:01 am
Websites you should visit…
I really liked your blog, appreciate the great information….
9 MMdYcbbgcx // Oct 15, 2011 at 11:09 pm
2011…
Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!…
10 facebookofsex // Oct 20, 2011 at 12:34 pm
dating site hunting…
Sites we Like………
11 seo y posicionamiento en buscadores // Oct 24, 2011 at 11:56 am
Websites you should visit…
I really liked your blog, appreciate the great information….
12 Escorts Santiago // Oct 24, 2011 at 6:21 pm
News info…
I was reading the news and I saw this really cool info…
13 Grants Liquid Chlorophyll // Oct 25, 2011 at 1:22 pm
Recommended websites…
Amazing blog! Thanks for the great contribution with this post….
14 SEO LOS ANGELES // Oct 28, 2011 at 11:31 am
Websites you should visit…
I really liked your blog, appreciate the great information….
15 penny auction video // Oct 31, 2011 at 4:20 pm
Websites you should visit…
I really liked your blog, appreciate the great information….
16 Walnut Fire Doors // Nov 3, 2011 at 7:48 pm
Wikia…
Wika linked to this place…
17 semenax // Nov 4, 2011 at 10:38 pm
Websites you should visit…
I really liked your blog, appreciate the great information….
18 click here to continue // Nov 11, 2011 at 4:02 am
online dating services…
Blogs ou should be reading……
19 enter your email // Nov 11, 2011 at 9:03 pm
free dating website…
Websites worth visiting……
20 facebookofsex // Nov 13, 2011 at 1:53 am
dating site articles…
here are some links to sites that we link to because we think they are worth visiting…
21 sports trophies // Nov 13, 2011 at 2:20 pm
Trophies!…
Cheap Sports Trophies – The Corner Shop/Mom and Pop Experience v On-line….
22 ELECTRIC BIKES // Nov 13, 2011 at 8:14 pm
Websites you should visit…
I really liked your blog, appreciate the great information….
23 toilet tanks // Nov 16, 2011 at 10:36 am
Looking around…
I like to browse around the online world, regularly I will just go to Stumble Upon and follow thru…
24 stakeholder pension // Nov 16, 2011 at 11:07 am
Yahoo results…
While searching Yahoo I found this page in the results and I didn’t think it fit…
25 ideas for hanging pictures // Nov 16, 2011 at 12:39 pm
Tumblr article…
I saw someone writing about this on Tumblr and it linked to…
26 betainvites.com // Nov 18, 2011 at 6:20 am
Beta invites…
[..] free beta invites for all of your favorite communities, programs, games etc. [..]…
27 herbal remedy anxiety // Nov 18, 2011 at 6:34 am
How To Fight Depression…
we like to honor many other internet sites on the web, even if they aren๏ฟฝt linked to us, by linking to them. Under are some webpages worth checking out…
28 antenna geoselector // Nov 19, 2011 at 8:52 am
Recommeneded websites……
usually posts some very interesting stuff like this. If you’re new to this site…
29 العاب سبونج بوب // Nov 21, 2011 at 5:47 am
here are some links to sites that we link to because we think they are worth visiting…
30 weight loss fast // Nov 24, 2011 at 10:24 am
Thank you!…
I just love the way you run this blog. Regards -m…
31 buying gold bars // Nov 24, 2011 at 2:20 pm
Buy Gold Online!…
To buy gold online requires some forethought and a little bit of homework….
32 image host // Nov 24, 2011 at 4:09 pm
Awesome website…
Really nice blog. I will check back for more information on this subject later….
33 Votes // Nov 25, 2011 at 11:39 am
Websites you should visit…
I really liked your blog, appreciate the great information….
34 General Web Directory // Nov 25, 2011 at 1:34 pm
Amazing site…
I really liked your blog, thanks for sharing this useful information……
35 swisstgallery // Nov 25, 2011 at 1:37 pm
Websites you should visit…
I really liked your blog and I sell watch winders on swisstgallery…
36 apps iphone download // Nov 26, 2011 at 6:39 pm
android free apps ipad games download iphone…
[...]This really answered my drawback, thanks![...]…
37 kinky sex // Nov 27, 2011 at 6:43 pm
dating site at the gold coast…
please visit the sites we follow, including this one, as it represents our picks from the web…
38 Gold Etfs // Nov 29, 2011 at 9:02 am
Hello…
Awesome story over again! Thumbs up=)…
39 Green Travel Northern Thailand // Nov 30, 2011 at 1:42 pm
Recommended websites…
Amazing blog! Thanks for the great contribution with this post….
40 gardiner inspiration // Nov 30, 2011 at 4:59 pm
Amazing web-site…
[...]In other news check this out[...]…
41 Cover iphone personalizzate // Dec 2, 2011 at 1:44 pm
Websites you should visit…
I really liked your blog, appreciate the great information….
42 sbobet // Dec 3, 2011 at 7:13 am
Thank you!…
I just love the way you run this blog. Regards -m…
43 Starting a Business // Dec 11, 2011 at 3:16 pm
Websites worth visiting…
I enjoyed reading your article, many thanks….
44 facebookofsex // Dec 15, 2011 at 5:36 am
online dating sites free…
Hiya, I’m really glad I’ve found this information. Nowadays bloggers publish only about gossips and internet and this is actually annoying. A good website with interesting content, that is what I need. Thank you for keeping this web-site, I will be v…
45 Lipolyse // Dec 21, 2011 at 8:58 am
Websites you should visit…
I really liked your blog, appreciate the great information….
46 new vauxhall insignia deals // Mar 2, 2012 at 8:26 pm
Websites you should visit…
I really liked your blog, appreciate the great information….
You must log in to post a comment.