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StrategyDriven Podcast Special Edition 9 – An Interview with Steve Kerr, author of Reward Systems

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StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag posts on the StrategyDriven website.

Special Edition 9 – An Interview with Steve Kerr, author of Reward Systems examines how properly conceived and implemented reward systems create organizational alignment and increase execution efficiency and effectiveness. During our discussion, Steve Kerr, author of Reward Systems: Does Yours Measure Up? and Senior Advisor at Goldman Sachs, shares with us his insights regarding:

  • components of an effective reward system and how they help create organizational alignment
  • a three phase process for creating a reward system aligned with an organization’s strategic goals
  • how to introduce employees to a new or changing reward system
  • balancing performance, tenure, and attendance during reward determination
  • warning signs that an organization’s reward system is less than effective

Additional Information

Steve’s book, Reward Systems, can be purchased by clicking here.

About the Author

Steve Kerr, author of Reward Systems, is Senior Advisor at Goldman Sachs, where as Chief Learning Officer he created Pine Street, the firm’s distinctive leadership development organization. Prior to joining Goldman Sachs, Steve was the Chief Learning Officer at General Electric, where he led and expanded that organization’s world renowned Crotonville learning center. He has also served on the business school faculties at Ohio State University, the University of Michigan, and the University of Southern California. To read Steve’s full biography, click here.

Podcast: Play in new window | Download (Duration: 32:32 — 44.7MB)

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Strategic Analysis Best Practice 9 – Comparing Organizational Goals to Resource Assignments

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Want to know what the organization is focused on; what it values? Simply follow the money.

The purpose of every organization is to maximize value creation as defined by its mission goals. To do so, executives and managers must employ the organization’s resources such that they are focused on the activities most directly supporting achievement of the organization’s mission goals. One method of assessing the degree of goal focus is to evaluate the alignment between organizational goals and resource assignment.

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Additional Resources

The following StrategyDriven recommended best practices are designed to help quantify an organization’s mission goals in terms of value and importance as well as creating consistency in the derivation of quantifiable goal values:

Project Management Best Practice 1 – The Project Management Intensity Continuum

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Any amount of management represents an overhead expense to the endeavor to which the oversight is applied. Therefore, it is critically important the amount of management applied is limited to that which yields an increased overall product value and not so much that overall value is diminished. This balance between applied management intensity and overall valued added is represented by the Project Management Intensity Continuum.

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Portfolio Management Best Practice 1 – Indentify Interrelationships

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StrategyDriven Portfolio Management Best PracticeThe interaction between projects, programs, and processes within a portfolio can be many and varied; contributing significantly to the challenge of effective portfolio management. Faulted transitioning of resources and/or outputs from one portfolio component to another can greatly delay the progress of these and other components; diminishing the overall portfolio value potential.

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StrategyDriven Project Management Forum

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“A project is a temporary endeavor undertaken to create a unique product, service, or result.”

Project Management Body of Knowledge
Third Edition
Project Management Institute

To many, project management represents their worst nightmare. The mere mention of the term conjures images of bloated bureaucracies, large consultant-laden teams, and endless meetings where decisions are seldom made and status is often reported as being behind. Executed properly, project management can be an effective tool for aligning the organization to the successful implementation of simple and complex initiatives.

An art and a science, project management is most effective when implemented with a rigor correlated to the scope and complexity of the work to be performed. Regardless of intensity, the management of projects consists of five phases:

  • Initiate – initial, high-level project definition and authorization
  • Plan – project scope refinement and approval; task identification and sequencing; resource to task allocation; schedule development; project cost estimation and budget development; project plan creation and baselining
  • Execute – project plan execution
  • Evaluate and Control – project plan execution performance monitoring and reporting; project scope and plan change control; project risk management
  • Close – final project activity documentation; financial closeout; overall project performance assessment and lessons learned development; product evaluation; project administrative closure

Focus of the Project Management Forum

Materials in the Project Management Forum are dedicated to discussing the leading practices of companies effectively managing projects for the efficient achievement of mission goals. Additionally, all project management information presented will be aligned with, compliment, and expound on the project management processes described by the Project Management Institute’s A Guide to the Project Management Body of Knowledge. The following articles, podcasts, documents, and resources cover those topics critical to the effective management of consequential projects.

Articles

Principles

Best Practices

Warning Flags

StrategyDriven Expert Contributor Articles

StrategyDriven Podcasts

StrategyDriven Podcast – Special Edition

Documents

Whitepapers

Resources

Books

To supplement the project management information found on the StrategyDriven website, our contributors recommend the Project Management Institute’s A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides). This book is a complete process reference covering all aspects of project management including:

  • Project Integration Management
  • Project Scope Management
  • Project Time Management
  • Project Cost Management
  • Project Quality Management
  • Project Human Resource Management
  • Project Communications Management
  • Project Risk Management
  • Project Procurement management