Team work slide

Western University
សសសសសសសសសសសសស
សសសសសសស
Project Management

Topic : Team Work
Lecturer : Ly Piseth

Group Members
1. Lon Mao
2. Khann Punlork 5. Meng Chunny
3. Prak Sothea 6. Chum Sreydoung
4. Lon Samnang 7. Keo Sreymom

Project Management , Major : Finance and Banking , Year IV , Semester I

Contents
1) Introduction of Team Work……………………………………………………………………... 1
2) Definition of Team Work………………………………………………………….…………….. 1
3) Benefits of successful teams…………………………………………………………………… 1
4) Selecting team members………………………………………………………………………….2
5) Potential drawbacks of teamwork……………………………………………………………… 2
6) Potential drawbacks of teamwork………………………………………………………………..2
7) Team Work Processing ………………………………………………………………………… 3
7.1) Transition procession (Between Periods of Action)…………………………………….. 3
7.2) Team Work processing Active……………………………………………………………. 3
7.3) Interpersonal Process (Present in both action period and Transition Period)……... 3
8) Intelligent nature of Leader………………………………….………………………………… 4
9) Advantages and disadvantages of teamwork………………….…………………………... 4
9.1) Advantage of Team Work……..………………………..…………………………. 5
9.2) Disadvantage of Team W.……………………………….………………………... 5
10) Team Work the Five Stages of Project Team work Development……..……………….5
10.1) Stage 1: Forming ………………………………………………………..………………6
10.2) Stage 2: Storming……………………………………………………….………………6
10.3) Stage 3: Norming……………………………………………………….……………….7
10.4) Stage 4: Performing…………………………………………………………………….8
10.5) Stage 5: Adjourning………………………………………………………………….. 9
11) Is the Team Effective or Not?...................................................................................9
12) Team Work in Project Management …………………………………………………….10
13) Likely the project is to end successfully………………………………………….……..10
14) Recommendation ……………………………………………………………………………11

2-2

1) General Provision of Team Work

 Typically in Company or other establishment team work is set
up by a Principle or department in company purpose of:
1) Manage in functional
2) Make effective in functional task
3) Easy to top manager for report and control.
4) One person is represent as know “ Team Leader”
5) Team Leader is responsible for team work operational.

Example: Sale team leader, credit team leader, Marketing team leader…..

Project Management , Major : Finance and Banking , Year IV , Semester I 2-3

2) Team Work Definition

 Team work: is those behaviors that facilitate effective team
member interaction with team that team working is group of two
or more individuals who perform some work related task to
achieved goal that set up.
3) Effective teamwork results from
 a team whose membership, size and resources match the task
 good leadership and attention to team-building
 commitment by team members to understand and identify with
one another's goals
 the development of team goals a shared vision
 A sense of common ownership of the task at hand and joint
responsibility for its achievement
 co-ordinated effort and planned sharing of tasks evenly across
the team
2-4

4) Benefits of successful teams

 Improvements in participants' confidence, attitudes, motivation
and personal satisfaction
 greater clarity in expressing ideas through group discussion
 better understanding by individuals of the nature of their
contribution and of the needs of other team members
 more efficient use of resources especially time
 greater optimism by focusing on positive outcomes and putting
less weight on problems
 a wider range of ideas rather than individuals working in
isolation
 more effective responses to changes – improved trust and
communication help a team to adapt to new circumstances.

2-5

5) Selecting team members

 Team members of high ability contribute most to a team when
other members are also of high ability. However, in forming and
managing a team, it is important to consider not only individuals'
technical skills, knowledge and experience but also their ability to
co-ordinate actions and their interpersonal qualities.

In selecting potential members, team members will be selected
who are able to:
commit to a shared goal
listen and respond to others in an objective and productive way
take on different roles in the group in order to accomplish shared
ends
be open and honest with their ideas, concerns and values
avoid carrying hidden agendas into team meetings.
2-6

6) Potential drawbacks of teamwork

Potential drawbacks of teamwork:

can occur when a team is

lulled into a false sense of satisfaction

loses its critical edge

2-7

7) Teamwork processes

 Researchers have identified 10 teamwork processes that fall into
three categories.
7.1 Transition procession (Between Periods of Action)
•Mission Analysis: Mission analysis based on period of time.
•Goal Specification: set up a clear goal what to do, expenditure
analysis avoided canceled object and create a new goal.
•Strategy Formulary: prepared strategy how to effective on goal.

2-8

(Con’t)

7.2) Action processes (when the team attempts to accomplish its
goals and objectives)

• Monitoring Process toward goal: good management for
strategy’s operation that forward to achieved objective and
avoided fail objective.
• System Monitoring: manage on network, database for use and
other information technology.
• Team Monitoring and Back up behavior: manage on team,
team member, and discipline to be good characteristics and
positive work.
• Coordination: facilitating when team work have problem or
team member has conflict.

2-9

(Con’t)

7.3) Interpersonal Process( Present in both action period and
Transition Period)
• Conflict Management: Manage all conflicts and settle it.
Because of when the project process we always appeared the
conflict with.
• Motivation and confidence building: Make motivation and
confidence to team member and whole team.
• Affect Management: team leader must be know many effective
Strategy to manage team, its requite team leader know much
functional and skills.

2-10

(Con’t)

7.3) Interpersonal Process( Present in both action period and
Transition Period) (Con’t)

Anymore good team work, team leader have criteria below:
1)Trust
2)Respect to each other
3)Fair
4)Favor
5)Understand the problem

2-11

intelligent of Team Leader

• Issue make team leader stone
• Time make team leader skillful
• Situation make team leader understand solution
• Decision make team leader knowledgeable
• Opinion make team leader strong knowledge
• Development make team leader strong quantity

2-12

9.1
9) Advantages and disadvantages of
teamwork

9.1) Advantages: Teamwork can lead to better decisions,
products, or services. The quality of teamwork may be
measured by analyzing the following six components of
collaboration among team members:
1.communication,
2.coordination,
3.balance of member contributions,
4.mutual support,
5.effort
6.cohesion.
In one study, teamwork quality as measured in this manner
correlated with team performance in the areas of
effectiveness (Ex: producing high quality work) and
efficiency (Ex: meeting schedules and budgets).
2-13

9.2) Disadvantage

- disadvantage: Teamwork may have an "unintended effect of
fermenting hostility toward the managerial goal of making the
teams fully self-managing. In one case study of a clothing
manufacturer, a switch from production line work (with bonuses
given for individual performance) to teamwork (in which an
individual's earnings depended on team performance) caused
workers to resent having to monitor each other.

2-14

10) The Five Stages of Project Team work
Development

Every team goes through the five stages of team development.
First, some background on team development. The first four
stages of team growth were first developed by Bruce Wayne
Tuchman and published in 1965. the stages are below:
1)Stage 1: Forming
2)Stage 2: Storming
3)Stage 3: Norming
4)Stage 4: Performing
5)Stage 5: Adjourning

2-15

10) The Five Stages of Project
Team work Development

10.1 Stage 1: Forming

The “forming” stage takes place when the team first meets each
other. In the first meeting, team member are:
•Introduced to each other
•They share information about their backgrounds
•interests
•experience and form first impressions of each other
•They learn about project and working on
•discuss the project’s objectives
•start to think about what role they will play on the project team

2-16

10) The Five Stages of Project Team
work Development

10.2) Stage 2: Storming

As the team begins to work together, they move into the “storming”
stage. In the this stage team member are:
• Team members compete with each other for status
• They are acceptance of their ideas
• They have different opinions on what should be done and how it
should be done which causes conflict within the team.
• They learn how to solve problems together
• The team leader needs to be adept at facilitating the team
through this stage ensuring the team members learn to listen to
each other and respect their differences and ideas.

2-17

10) The Five Stages of Project Team work
Development

10.3) Stage 3: Norming

When the team moves into the “norming” stage, They will are:
 Beginning to work more effectively as a team.
 They are no longer focused on their individual goals
 They respect each other’s opinions and value their
differences.
 They begin to see the value in those differences on
the team.
 The team has agreed on their team rules for working
together, how they will share information and resolve
team conflict, and what tools and processes they will
use to get the job done.
2-18

work Development

10.3) Stage 3: Norming (con’t)
 The team members begin to trust each other and actively seek
each other out for assistance and input
 They are now helping each other to work toward a
common goal
 In this stage, the team leader may not be as involved in
decision making and problem solving since the team
members are working better together and can take on
more responsibility in these areas.

2-19

work Development

10.4) Stage 4: Performing
In the “performing” stage, teams are functioning at a very high level.
And they are:
• The focus is on reaching the goal as a group.
• The team members have gotten to know each other
• Trust each other and rely on each other.
• The team is highly motivated to get the job done
• They can make decisions and problem solve quickly and
effectively.
• The team members work effectively as a group and do not need
the oversight that is required at the other stages.
• The team leader will continue to monitor the progress of the team
and celebrate milestone achievements with the team to continue to
build team camaraderie.
2-20

work Development

10.5) Stage 5: Adjourning
• In the “adjourning” stage the project is coming to an end and the
team members are moving off into different directions.
• This stage looks at the team from the perspective of the well-
being of the team rather than from the perspective of managing
a team through the original four stages of team growth.
• The team leader should ensure that there is time for the team to
celebrate the success of the project and capture best practices
for future use
• This also provides the team the opportunity to say good-bye to
each other and wish each other luck as they pursue their next
endeavor.

2-21

11) Is the Team Effective or Not?

 There are various indicators of whether a team is working
effectively together as a group. The characteristics of effective,
successful teams include:
 Clear communication among all members
 Regular brainstorming session with all members participating
 Consensus among team members
 Problem solving done by the group
 Commitment to the project and the other team members
 Regular team meetings are effective and inclusive

2-22

12) Team Work in Project
Management

 Project management is the discipline of planning, organizing,
securing, managing, leading, and controlling resources to
achieve specific goals. A project is a temporary endeavor with a
defined beginning and end (usually time constrained, and often
constrained by funding or deliverables), undertaken to meet
unique goals and objectives, typically to bring about beneficial
change or added value.

2-23

12.1) What Is Effective Teamwork
with a Project Manager?

There are Three Phases for effective teamwork with a project
Manager:
1. Members
According to Constructing Excellence, successful teamwork
depends on who the players are. Since team members work
closely together, their personalities must be compatible so that
team conflicts do not arise. Project managers must select
members for their team based on a variety of components, such
as talent, skill, expertise and their ability to communicate and
get along with others.

2-24

with a Project Manager? (con’t)

Manager:
2. Communication
Project managers have more effective teamwork on their
projects when good communication skills are employed.
Effective communication allows team members to understand
their roles in a project, as well as what is expected of them from
the project manager and their teammates.

2-25

with a Project Manager? (con’t)

Manager:
3. Goals
Setting team goals helps everyone in the group work together to
achieve a common objective. Without goals, project managers
do not set a target for team members to work toward, other than
just getting a job done. Goal-setting binds teams together and
keeps them focused on the end result.

2-26

12) likely the project is to end
successfully.

 Lack of communication among team members.
 No clear roles and responsibilities for team members.
 Team members “throw work over the wall” to other team members,
with lack of concern for timelines or work quality.
 Team members work alone, rarely sharing information and offering
assistance.
 Team members blame others for what goes wrong, no one accepts
responsibility.
 Team members do not support others on the team.
 Team members are frequently absent thereby causing slippage in
the timeline and additional work for their team members.
 Example of a Team Moving Through the Five Stages
 Background and Team Members

2-27

14) Recommendation

Team Working Is really made effective result in goal;
because of they can discussion with difference opinion of team
member how to achieve of team’s goal. As team working has
successful goal. However we always appeared the conflict in team.
So, requite team leader has many skill and flexible to solve all the
conflict in team.
It is important to remember that every team regardless of
what the team is working on will follow these stages of team
development. It is the job of the team leader to help see the team
through these stages to bring them to the point where they are
working as effectively as possible toward a common goal.

2-28

Thank you for your paid attention

2-29

Distribution Methods (cont.)

 Best Efforts
 Issue is not underwritten i.e. no money is paid
upfront for the stocks ==> No risk for the
Investment banks
 Investment bank attempts to sell the issue for a
commission.
 Privileged Subscription
 Investment banker helps market the new issue to
a select group of investors.
 Usually targeted to current stockholders,
employees, or customers.

© 2011 Pearson Prentice Hall. All rights reserved. 2-30


 Dutch Auction
 Investors place bids indicating how many shares
they are willing to buy and at what price. The price
the stock is then sold for becomes the lowest price
at which the issuing company can sell all the
available shares.

 See Figure 2-2


Figure 2-2



 Direct Sale
 Issuing firm sells the securities directly to the
investing public.
 No investment banker is involved.


3. Private Debt Placements

Private placements of debt refers to raising
money directly from prominent investors such
as life insurance companies, pension funds. It
can be accomplished with or without the
assistance of investment bankers.


3. Private Debt Placements

 Advantages
 Faster to raise money
 Reduces flotation costs
 Offers financing flexibility

 Disadvantages
 Interest costs are higher than public issues
 Restrictive covenants
 Possible future SEC registration


Floatation Cost

 Floatation cost refers to transaction cost
incurred when a firm raises funds by issuing
securities:
 Underwriter’s spread
(Difference between gross and net proceeds)
 Issuing costs
(printing and engraving of security certificates,
legal fees, accounting fees, trustee fees, other
miscellaneous expenses)


Sarbanes-Oxley Act (SOX)

 In response to corporate scandals, Congress passed
this Act in 2002.
 This Act holds senior corporate advisors (such as
accountants, lawyers, board of directors, officers)
responsible for any instance of misconduct.
 The Act attempts to protect the interest of investors
by improving transparency and accuracy of corporate
disclosures.
 SOX has been criticized for imposing additional
compliance costs on the firms. Some firms have
responded by delisting from major exchanges or
choosing to list on foreign exchanges.


4. Rates of Return in the
Financial Markets

Rates of return over long periods
 See Figure 2-3
 Higher returns are associated with higher risk
(principle 3). Figure also shows that investors
demand compensation for inflation and other
elements of risk (such as default).


Some terms

 Opportunity Cost — Rate of return on next best investment
alternative to the investor

 Standard Deviation — Dispersion or variability around the mean
rate of return in the financial markets

 Real Return — Return earned above the rate of inflation

 Maturity Premium — Additional return required by investors in
long-term securities to compensate for greater risk of price
fluctuations on those securities caused by interest rate changes

 Liquidity Premium — Additional return required by investors in
securities that cannot be quickly converted into cash at a
reasonably predictable price.


Figure 2-3


Interest rate levels

 Interest rate levels and inflation are displayed
in Table 2-2 and Figure 2-4. We observe:
 A direct relationship between inflation and interest
rates.
 The returns are affected by the degree of inflation,
default premium, maturity premium and liquidity
premium.


Figure 2-4


5. Interest Rate Determinants

 Nominal interest rate = Real risk free rate + Inflation
risk premium + Default Risk premium + Maturity
Premium + Liquidity Premium
 Thus the nominal rate or quoted rate for securities is
driven by all of the above risk premium factors. Such
knowledge is critical when companies set an interest
rate for their issues.
 Review the example in text.


Real and Nominal Rates

 Nominal interest rate = real rate of interest + inflation
risk premium
 The real rate of interest includes default risk, maturity
risk and liquidity premiums.
 Review example in text.


Term Structure of Interest
Rates or Yield to Maturity
 The graph shows the relationship between a debt
security’s rate of return and the length of time until
the debt matures, where the risk of default is held
constant.
 The graph could be upward sloping (indicating longer
term securities command higher returns), flat (equal
returns for long and short-term securities) or inverted
(longer term securities command lower returns
compared to short-term securities).
 The graph changes over time. Upward sloping curve
is most commonly observed.
 Figure 2-5


Figure 2-5


Figure 2-6


Figure 2-7


Theories to explain the shape

of the Term Structure:

 Unbiased Expectations Theory

 Liquidity Preference Theory

 Market Segmentation Theory


The Unbiased
Expectations Theory

 Term Structure is determined by an
Investor’s expectations about future
interest rates.


The Liquidity
Preference Theory

 Investors require maturity premiums to
compensate them for risks of uncertain
future interest rates.


The Market
Segmentation Theory

 Legal restrictions and personal
preferences limit choices for investors
to certain ranges of maturities.


6. Finance and the
Multinational firm

 Well developed financial markets contribute to the overall
growth of an economy.
 US has well developed financial market that allows for
efficient transfer of capital from “savers” to “users” leading
to timely financing of investments.
 Multinational firms with excess cash will prefer to invest in
countries that have well developed financial market and
stable political environment.
 Developing countries, with less developed financial
markets, attract less investment from multinational firms,
which contributes to their slower pace of development.


Table 2-2


Table 2-2 (cont.)


Key Terms

 Capital markets  Money market
 Direct sale  Nominal rate of interest
 Dutch auction  Opportunity cost of funds
 Floatation costs  Organized security
 IPO exchanges
 Investment banker  Over-the-counter markets
 Liquidity preference  Primary market
theory  Private placement
 Market segmentation  Privileged subscription
theory  Public Offering


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