Научная статья на тему 'Bank audit project team Management: special aspects and development process'

Bank audit project team Management: special aspects and development process Текст научной статьи по специальности «Экономика и бизнес»

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Ключевые слова
PROJECT / PROJECT MANAGEMENT / PROJECT TEAM / BANK AUDIT PROJECT TEAM / TEAM LIFE CYCLE / TEAM DEVELOPMENT STAGES / LEADERSHIP STYLES / PROJECT MANAGER''S TASKS

Аннотация научной статьи по экономике и бизнесу, автор научной работы — Tsekovoy A., Turkebayeva K.

Human Resource Management plays one of the most important roles in all areas, including project management. This paper focuses on Human Resource Management in the bank audit project, particularly on project team development process. Six stages of team development of bank audit project, that are forming, storming, norming, blossom, reorganization, disbanding, are described in detail. Also leadership styles used in every team development stage were analyzed. Project manager's tasks were studied and presented at the end of each phase. Finally, the author underlines the significance of first two stages of team development since it serves as the basis for future work and success of the project.

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Текст научной работы на тему «Bank audit project team Management: special aspects and development process»

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BANK AUDIT PROJECT TEAM MANAGEMENT: SPECIAL ASPECTS AND DEVELOPMENT

PROCESS

Tsekovoy A.

doctor of technical sciences, professor, head ofproject management international center, KazNRTU after

K.I.Satpayev, Almaty, Kazakhstan Turkebayeva K.

student of Master Program, KazNRTU after K.I.Satpayev, Almaty, Kazakhstan

Abstract

Human Resource Management plays one of the most important roles in all areas, including project management. This paper focuses on Human Resource Management in the bank audit project, particularly on project team development process. Six stages of team development of bank audit project, that are forming, storming, norming, blossom, reorganization, disbanding, are described in detail. Also leadership styles used in every team development stage were analyzed. Project manager's tasks were studied and presented at the end of each phase. Finally, the author underlines the significance of first two stages of team development since it serves as the basis for future work and success of the project.

Keywords: project, project management, project team, bank audit project team, team life cycle, team development stages, leadership styles, project manager's tasks.

The management of projects becomes the integral part of modern society's life. Furthermore, project management is of great economic importance. A careful estimate indicates that projects initiate about one-third of the global domestic product [1].

Thus, projects lead to creation of economic and social value. Projects are increasingly widely applied in organizations [2]. In addition to traditional contract projects, internal projects such as marketing, product development and organizational development have gained importance in all kinds of industries and in public administration [3].

It is common practice to argue that Human Resource Management is of strategic importance in all organizations [4], contributing to the financial success of

the organization [5,6,7]. Boxall and Purcell consider Human Resource Management as one of the organization's essential part. In case if Human Resource Management fails, then the company fails.

Project management, as type of professional activity, includes planning, organization, monitoring and control of all aspects of a project and the motivation of those, involved in it, to achieve the project objectives [8].

Management of projects is:

- On the one hand - process of using knowledge, skills, methods, tools, techniques and technologies of project management in implementation of project for the purpose to achieve goals effectively with

a given quality, within approved time and budget and in accordance with the participants' expectations.

- On the other hand - group of people (roles) who manage the project. In other words, people providing management, communication and decision-making processes for the project implementation.

One of the basic concepts in project management is the concept of «team» - project team (group), working on a temporary basis for the time necessary to realize project tasks.

Considering the theoretical aspects of the formation of project team building principles, it should be noted that the existing project approach was formed during XX century and later was transformed to project management body of knowledge PMBOK Guide.

The team, in this case, is defined as a set of individuals who support the project manager in performing the work of the project to achieve its objectives [9].

Bank audit project team completely enters to this group. It has a temporary nature, which is defined by the essence of project as a temporary specific organizational form of meeting goals and solving unique problems.

As a social group, the bank audit project team has its life cycle that consists of six consequential stages: forming, storming, norming, blossom, reorganization, disbanding.

Tasks of team and team management functions vary, depending on the stage of team development.

1. Forming

At this stage, the project manager of bank audit is appointed. He or she builds the audit project team. Then team members get acquainted with each other, with goals and objectives of their activities and ways to accomplish it.

Although the project team (members of organization) already know each other, but this group has not yet formed as a real team; people have not yet adapted to the objects, project and teamwork. The positive point is that employees from different departments are familiar not only with each other but with organizational culture of the company.

The results of team are low at this stage as interpersonal interactions are cautious, communication is more official and there is a search for mutually acceptable behavior in the group. Team members communicate a lot, but do not fully understand each other. The preferred style of leadership during this phase is directive (task - oriented, not relationship - oriented). Each team member moves from individual to team member status.

The functions of project manager of bank audit project at this stage are following:

- Assist team members to accomplish the work;

- Create a quiet and open working atmosphere;

- Help team members know more about each other;

- Explain to team members their goals and responsibilities;

- Encourage active participation of all team members in the work;

- Create a team structure through clarifying roles and tasks;

- Establish a culture of communication;

- Encourage open communication between team members.

2. Storming (period of psychological tension).

As the name of stage suggests, this phase is marked by internal contradictions in the team. Employees accept that they are part of a project group but resist the constraints that the project and group put on their individuality. This stage is the most difficult for team and it is characterized by creation of associations (subgroups) based on interests and sympathies.

Inside the team, the roles of individual employees and their place in team are determined, the psychological climate in the team is established, norms and rules of activity are developed, personal interests and motivation of members are defined and the internal culture is determined.

During this period, there is an increase in the level of conflict caused by differences in characters of specialists, approaches, styles and methods of solving problems. At this stage, participants seek to identify and try out their advantages, but team compensate for the lack of coherence by effective work.

This is an essential and necessary stage of development. Leadership style at this phase is guiding (relationship - oriented). The leader of team has to pay serious attention to the possible feeling of discontent in team, not taking it personally and discussing such situations without taking a defensive position.

The tasks of project manager at this stage are:

- Help team members of proj ect to introduce norms of communications and effectively interact with each other;

- Discuss how the team will make decisions;

- Encourage team members to share their ideas on issues;

- Facilitate the prevention of conflicts and support professional behavior by following the rules of ethics.

3. Norming.

Team feeling, which is formed during first two stages, is necessary for the successful achievement of project goal. This creates the basis for productive work of the team.

The third stage is the longest and most effective for reaching the project's objectives. At this level, the team comes to selecting a common goal and developing a common plan for the team. Some members have to give up their ideas and agree with opinion of other participants in order to act as a team. Also, this period is characterized by maximum opening of individual creative abilities; team members learn to understand and take into account the needs and interests of each other. The group of separate individuals turns into a single organism. Professional activity becomes leading at this phase and members are well prepared for its implementation. Conflicts and disputes arise for reasons mainly related to target activity and are constructive in nature. At this stage, the group reaches the highest level of so-cio-psychological maturity. Conflict and hostility levels in team are reduced and the group demonstrates co-hesiveness. Feelings of camaraderie and shared responsibility for the project are heightened.

The leadership style at this period is supportive (not completely task - oriented). Now the leader has to concentrate on supporting and evaluating the efforts of each participant, improving the working atmosphere in communications, cooperation and further improving relations in the team.

At this stage, the project manager must:

- Openly express his view on various situations and problems that concern employees;

- Encourage employees to feedback;

- Set tasks that need to be addressed collectively;

- Delegate the authority to team members.

4. Blossom (the stage of increasing the effectiveness of work)

At this level, the team functions as one unit because the methods to make work smoothly and effectively without inappropriate confrontations and external control were defined. The team operating structure at this point is fully functional and accepted. Group energy has moved from getting to know each other and how the group will work together to accomplishing the project goals.

We see the real effective team with a creative working atmosphere, close intergroup relationships, self-management and friendly relations. Team members know the strengths and weaknesses of each other and feel that they are involved in teamwork that affects the success of the project.

At this stage the leadership style is consultative, involving a continuous search for opportunities to improve interaction.

The leader has to:

- Coordinate and align personal aspirations of participants with the goals of team;

- Search for ways to improve and evaluate the effectiveness of the team;

- Develop the team's skills in assessing its current activities;

- Recognize personal contribution of participants;

- Develop personal potential of team members by coaching.

5. Reorganization

The stage arises in case of changes in quantitative and qualitative composition of team for several reasons: changes in project scope and type of work, changes in the management structure of organization and project; completion of separate project phases; replacement of some employees due to their insufficiency; calling new specialists, temporary experts, consultants, etc. All this is a normal process of team development.

At the period of reorganization, the task of project manager is to organize the adaptation of new team members to the style and methods of interaction in team, to state their professional role, to define functions, duties, rights and responsibilities in the project.

6. Disbanding

When the group achieved project goals, completed separate phases (subprojects) and the whole audit project, the team is disbanded. It is possible to have two situations:

In case of team's success and adequate compensation of efforts, team members feel satisfied with their performance and have a desire to work together in the future. In this situation, as a rule, the head of organization, when create the team for development and realization of new project, calls to team those people with whom the previous project was successfully implemented. Such team already has cohesion, the ability to work together, has mechanisms for mutual adaption, team decision-making, cultural regulation that significantly reduces inefficient first two stages of team's life.

In case of team's failure, its team members, feeling dissatisfaction, part with relief.

A lot of teams go through these cycles of formation many times, as they react to changing circumstances. For example, a change of leader as well as the emergence of new participants in the team, who need to understand the way and dynamics of the team, can return the team to the second stage. Moreover, even the highly effective teams under particular circumstances can temporarily come back to earlier stages of development.

The considered stages provide a complete picture of the life cycle phases of bank audit project team. From the team building point of view, the most important stages are the first two, since at this point the foundations of team spirit are based, the core of team is created and culture is formed. The culture supports innovation and creativity, without which it is impossible to develop the organization.

REFERENCES:

1. Turner et al. 2010. Perspectives on projects. New York: Routledge.

2. Cleland, D.I. and Gareis, R. 2006. Global Project Management Handbook. New York: McGraw-Hill.

3. Morris, P.W.G. 1997. The Management of Projects. London: Telford.

4. Boxall, P. And Purcell, J. 2011. Strategy and Human Resource Management. Basingstoke: Palgrave Macmillan Ltd.

5. Guest, D.E. 1987. Human Resource Management and industrial relations. Journal of Management Studies, 24(5), 503-521.

6. Huselid, M.A. 1995. The impact of human resource management practices on turnover, productivity and corporate social performance. The Academy of Management Journal, 38(2), 635-672.

7. Pfeffer, J. 1998. The Human Equation: Building profits by Putting People First. Boston, Massachusetts: Harvard Business School Press.

8. ISO 10006:2017 (E). Quality Management -Guidelines to quality in project management.

9. Project Management Institute (PMI), (2017), A Guide to the Project Management Body of Knowledge (PMBOK Guide), 6th edition, Pennsylvania: PMI.

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