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Management in some form or another is an integral part of living and is essential wherever human efforts are to be undertaken to achieve desired objectives. Management is essential for organized life and necessary to run all types of organizations.
The controlling function comprises co-ordination, reporting and budgeting, and hence the controlling function can be broken into these three separate functions.
But, Planning, Organizing, Staffing, Directing and Controlling are widely recognized functions of management.
An effective planning program incorporates the effect of both external as well as internal factors.
Thus the function of organizing involves the determination of activities that need to be done in order to reach the company goals, assigning these activities to the proper personnel, and delegating the necessary authority to carry out these activities in a co-ordinated and cohesive manner. Staffing is the function of hiring and retaining a suitable work-force for the enterprise both at managerial as well as non-managerial levels.
This function is even more critically important since people differ in their intelligence, knowledge, skills, experience, physical condition, age and attitudes, and this complicates the function. The directing function is concerned with leadership, communication, motivation and supervision so that the employees perform their activities in the most efficient manner possible, in order to achieve the desired goals. The leadership element involves issuing of instructions and guiding the subordinates about procedures and methods. The communication must be open both ways so that the information can be passed on to the subordinates and the feedback received from them. Motivation is very important, since highly motivated people show excellent performance with less direction from superiors. Supervising subordinates would lead to continuous progress reports as well as assure the superiors that the directions are being properly carried out. The function of control consists of those activities that are undertaken to ensure that the events do not deviate from the per-arranged plans. To keep that competitive edge, companies need to align their project management strategies directly with their strategic business goals. Accel BI seamlessly integrates resources across a company’s departments and utilizes communication, planning and budgeting skills to bring projects and deliverables to completion on time and under budget. Whether you’re in the process of identifying or implementing a vendor management solution (VMS), taking a best practices approach to contingent workforce management can help organizations better manage their temporary, consultative and professional services workforce. Partnering with a vendor that understands your business goals, company culture and what you’re trying to achieve is as important as having the right technology in place to measure and optimize results.
Show support from executive leadership – Communicate to vendors that executive leadership is driving the program and where it fits into business goals. Define the scope of implementation to create shared understanding – Whether you’re proceeding with a phased approach or taking an accelerated path to implementation, make sure the vendor community knows your intent. Make it known that compliance is not optional – Communicate that the program is mandatory and that all vendors must comply. Discuss measurable program objectives – Share with vendors the strategic optimization quality improvements you’re looking for, such as how you plan to achieve risk mitigation or what your objective is from a cost containment or rationalization perspective. Standardize contracts by primary service segment – Terms and conditions will differ between an administrative and technical provider. Determine a clear pricing strategy – Decide if the pricing strategy will be based on a set mark-up or geographic rate card. Institute consistent funding and vendor payment terms – Whether you choose to fund your program as a percentage of spend, share the burden with the vendor community or fully fund the program, be consistent. Get a rate commitment from vendors– If you don’t define terms upfront, you may experience vendors stating they misunderstood the engagement or have another reason they need to raise your rate. Put performance guarantees in place – If a one week performance guarantee is built into the contract, be sure to also define what happens when it doesn’t work out. Establish an NPC – A National Primary Contract centralizes control and eliminates finger-pointing or work requirements “falling through the cracks”. The contingent workforce’s role in many enterprises has evolved significantly in recent years, with subcontractors, specialty firms and just-in-time solutions for both commoditized and highly skilled labor playing a larger role in day-to-day enterprise activities. The opinions expressed by guest authors do not necessarily reflect the positions of Staffing Industry Analysts. Home » Recruitment Agencies » HOW IMPORTANT ARE YOUR MANAGEMENT SKILLS IN YOUR PROFESSION? I am not sure if any of you remember that particular beer advertisement where they advertised that this stable, understated brand was ideal of Accountants!

The measure of people skills is something that more and more companies are weighing in on in the interview process. Your ability to think along a clear path of action and be a proactive sharp decision maker will hold you in good stead for a management role. Miscommunication leads to time wasted as jobs get done incorrectly and staff waste unnecessary time trying to understand what is required.
If you are not able to meet the attributes as outlined above, you will be overlooked for any management posts. As a discipline, Project Management developed from different fields of application including construction, engineering and defense. At the same time, technology for project cost estimating, cost management, and engineering economics was evolving, with pioneering work by Hans Lang and others.
In 1969, the Project Management Institute (PMI) was formed to serve the interests of the project management industry.
The International Project Management Association (IPMA), founded in Europe in 1967, has undergone a similar development and instituted the IPMA Competence Baseline (ICB). The basic ingredients of management are always at play, whether we manage our lives or business. Managing life means getting things done to achieve life’s objectives and managing an organization means getting tings done with and through other people to achieve its objectives. Based upon these seven functions, Luther Guelick coined the word POSDCORB, which generally represents the initials of these seven functions i.e. It is a rational and systematic way of making decisions today that will affect the future of the company. The external factors are shortages of resources; both capital and material, general economic trend as far as interest rates and inflation are concerned, dynamic technological advancements, increased governmental regulation regarding community interests, unstable international political environments, etc. It involves the process of recruiting, training, developing, compensating and evaluating employees, and maintaining this workforce with proper incentives and motivations. Hence, management must understand, in addition to the technical and operational competence, the sociological and psychological structure of the workforce. The activities consist of establishing standards for work performance, measuring performance and comparing it to these set standards and taking corrective actions as and when needed, to correct any deviations. Measuring actual performance with the pre-determined standard and finding out the deviations.
However, these functions are highly indistinguishable and virtually unrecognizable on the job. Our project management expertise and oversight is based on sound PMI principles, and has helped commercial and government agencies streamline their delivery process, cut costs, and sidestep risks, thus providing significant cost savings and measurable long term value. This includes implementing technology and communicating expectations on how vendors should work with the technology and operational processes to meet your business objectives. Whether that’s cost control, mitigating risk or achieving compliance, improving operational efficiencies can help organizations leverage the contingent and services procurement workforce as a strategic component of the overall human capital management strategy and allows organizations to better manage spend, compliance, risk and efficiency.
This boosts adoption and engagement because vendors understand the organization’s commitment to the program. If you don’t communicate that it’s a mandated program, some vendors will perceive it as optional, making it harder to get to a steady-state. By setting expectations at the forefront, you’ll eliminate back channel conversations, rogue spending and work-around processes. As you work with vendors, have some basic agreements that ask them to execute based on the segment of business.
Geographic-based rate cards are the best way to measure competitive pricing strategy, but mark-ups are sometimes necessary if you don’t have data or full visibility into rates.
Information gets shared between vendors and not having consistency can create additional challenges.
Put a stake in the ground and enforce that vendors live with the rates they committed to at the time of engagement.
This is especially helpful when working with a vendor organization that has multiple branches. Effectively managing this growing number of workers – who have many advantages from a management standpoint but also unique challenges and reporting needs – requires an in-depth and consistent approach. There are no surprises that Accountants are not vivacious, outgoing individuals with a passion for dealing with people. Whilst the inherent competencies are vital, top class executives cannot hide behind closed doors and expect to add value.

Organisations need leaders to provide guidance and direction to junior personnel, to motivate, excite learning and encourage self-development.
All managers need to see the bigger picture of any business model and be sure that they are on the bus with the other managers as to reaching that common goal.
In the United States, the forefather of project management is Henry Gantt, called the father of planning and control techniques, who is famously known for his use of the Gantt chart as a project management tool, for being an associate of Frederick Winslow Taylor’s theories of scientific management, and for his study of the work and management of Navy ship building. Again, in the United States, prior to the 1950s, projects were managed on an ad hoc basis using mostly Gantt Charts, and informal techniques and tools.
The premise of PMI is that the tools and techniques of project management are common even among the widespread application of projects from the software industry to the construction industry. The focus of the ICB also begins with knowledge as a foundation, and adds considerations about relevant experience, interpersonal skills, and competence. Management is a set of principles relating to the functions of planning, organizing, directing, and controlling, and the applications of these principles in harnessing physical, financial, human and informational resources efficiently and effectively to achieve organizational goals.
P stands for Planning, O for Organizing, S for Staffing, D for Directing, Co for Co-ordination, R for reporting & B for Budgeting.
Since the human element is the most vital factor in the process of management, it is important to recruit the right personnel. If you do proceed with mark-ups, reserve the right to implement geographic rate cards at some point in the future. Likewise, when establishing insurance obligations, make sure everyone has the same requirement. A single point of contact increases accountability and puts the onus on the NPC to manage their organization.
They are numbers people and their quieter more earnest personalities make them well suited to their trade. The processes you wish to implement will have resounding results if your team are fully up to speed of what is to be expected.
Liaising with your team and making sure they understand and respect your plans is imperative step for any good manager. The principles of physics and chemistry are very clear and definite, and their outcomes can be predicted.
His work is the forerunner to many modern project management tools including the work breakdown structure (WBS) and resource allocation.
AACE has continued its pioneering work and in 2006 released the first ever integrated process for portfolio, program and project management (Total Cost Management Framework).
In 1981, the PMI Board of Directors authorized the development of what has become A Guide to the Project Management Body of Knowledge (PMBOK Guide), containing the standards and guidelines of practice that are widely used throughout the profession. Leadership is something that often comes naturally to an individual however, companies should not shy away from coaching individuals with the potential to develop into sound reliable, ethical leaders. It involves the ability to foresee the effects of current actions in the long run in the future.
Gone are the days that Accountants are hidden in the back office drowning in stacks of ledgers.
Human interaction is such a large part of today’s business world someone who battles in this field will find it difficult to secure a senior management role. First of all problems appeared and then through careful research work solutions were found. Today, we find employers are looking for personnel who can not only crunch the numbers but, manage and lead staff.
Adding these attributes into the equation has also seen the accountant of today having a greater desire to get involved in operations. As and when political, economic and social changes take place, new kinds of problems arise. Namely, interpersonal skills, leadership ability, strategic thinking ability and communication skills. Therefore, the decision to implement them or not is taken according to the situations or circumstances.For example, according to the principle of division of labour a worker should be assigned a definite part of a job time and again to increase his efficiency. But on the contrary, if a worker is fed up with doing a job repeatedly, the application of this principle will not be beneficial.

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