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MNG00724 Human Resource Management And Experience and Specialization

HRM initiative

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Brief outline of the HRM initiative that you have chosen for your Business Case analysis

Examples of initiatives might be:

A major manager development program

Outsourcing specialist selection processes

Development of a Human Resource Information System

Establishing a supervisor mentoring program Etc.

Before proceeding further, ask yourself these questions

What is a Business Case?

Is it purely financial?

Steps towards building a Business Case

Key parameters for a Business Case considering human capital investment: Cost-benefit analysis, Return on Investment (ROI), Evaluation (to be explored in more detail in the next sections of the assignment)

How does Human Capital investment fit within the financial consideration?

Cost-benefit analysis

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Cost-benefit analysis involves considering the positive outcomes (or benefits) in comparison to the costs.

Supporting analysis should be provided in terms of a cost-benefit statement

  • The Investment – a summary of the investment required by the proposal
  • The Savings/Productivity/Profit – a summary of the savings or profits generated by the proposal

Notes:

(1) you will need to use your experience or imagination here.

(2) provide a reference(s) for cost-benefit analysis processes.

Return on Investment (ROI)

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For this assignment I suggest that you estimate a Return on Investment of X% over one year. You will NOT need to do detailed calculations.

(1) provide a reference(s) to support your points about the ROI.

Evaluation

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Your evaluation plan is a very important part of your Business Case. You will need to provide an evaluation process, including both short-term and long-term evaluation criteria.

Example of an Evaluation Plan for monthly workshops for six months: monthly workshop evaluation. At the end of the program an evaluation of program impact (e.g. improved productivity, improved customer satisfaction, reduced absenteeism, etc.)

Remember that evaluating HR initiatives, such as talent acquisition, supervisor/manager development etc. usually is a longer term process.

(1) provide a reference(s) to support your points about Evaluation.

Business Case Summary

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Summarise the outcomes of your Business Case Analysis and your conclusions/recommendations about the chosen HRM initiative.

Remember that you do not need to provide detailed, number-based working of the case. But you should indicate the grounds on which the initiative should proceed.  

Critical Reflective Analysis

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The reflection is written in first person language

  • The Critical Reflective Analysis will summarise what you have learnt through writing about a Business Case, including the puzzles you have confronted and the insights you have developed. Critical Reflective Analysis applies both at the task level and at the personal development level. You need to comment on both levels.
  • The questions below will may help you to focus your reflection:
  • What difficulties did you face in writing about a Business Case?
  • How did you solve the difficulties?
  • What major lessons did you learn about the process?

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