Planning Document

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Submitted By arblakney
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Pages 10
Project Management
Anita Blakney
HRM 520
Dr. Sue Lowe

Construct a Cost-Benefit Analysis matrix for an organization that is considering replacing it’s internal payroll system with a payroll outsourcing service. Include direct and indirect revenue enhancements and direct and indirect cost reductions.

Cost savings - Smaller organizations using payroll outsourcing company reduce costs by removing the time consuming HR tasks that slow down production. To determine the cost effectiveness of outsourcing payroll, it is important to calculate the number of hours employees spend on payroll related activities and the exact amount being spent. Then compare it with plans offered by outsourcing companies. Increased productivity - Payroll management is an extremely time consuming activity. By using a payroll outsourcing company, the tedious burden of payroll management is removed and employees are able to concentrate on the things they are good at.
Reliability – Outsourcing provides the same output speed and quality that is not dependent on holiday time and sick leave from your staff.
Assess the risks associated with integrating a new payroll system and suggest what the project management team can do to minimize those risks.
Payroll has been a payment of wages, salaries, advantages, allowances as well as other monies associated with the staff working in the public agency. Few agencies are contracting out payroll function, whereas the rest run its individual payroll. Newer payroll system needs to be integrated within the company with advent of the globalization, changes in the technology nod enhancing competition. Any application of newer system carries with itself the bigger risk as this has not been done prior and can bring either loss & profit for the organization; but those have been measurable aspects of businessman therefore preventative measures may also…...

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