PERSPECTIVE ANALYTICS AND FORECASTING TECHNIQUES FOR

MANPOWER PLANNING IN A CONSTRUCTION COMPANY

Presentation by:HUSAIN BADSHAH M060VIBHOR BANSAL M061REVATI BARGALE M062KARAN BATAVIA M063PIYUSH BHATIA M064

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PRESCRIPTIVE ANALYTICS

I. What is it?

II. Why is it important?

III. How is it done?

What is it?

• Optimizes decision-making • Different types of analytics, however, provide

different types of insights.Analytics include:1. Business intelligence2. Predictive analytics3. Prescriptive analytics

Why is it important?

• Increase service quality, reduce operating costs and increase return on assets.

How is it done?

CASE STUDY

• The Kheri Construction Company uses prescriptive analysis to solve the issue of high

staff turnover.

MANPOWER PLANNING

• Manpower planning is a very important part of the overall planning of a business organization. It is obvious that a business cannot prosper unless the right number of employees, having required skills, talents & qualifications is available at right time.

Manpower planning is done to fulfill the two main objectives, namely:

(1) To utilize the present employees fully.(2) To fill up future manpower requirements

TYPES OF MANPOWER PLANNINGTypes of manpower planning can be distinguished:1. On the basis of the level at which it is done.2. On the basis of the period for which it is done.

On the basis of level On period basis

Macro-level (national level)

Micro-level(Industrial Unit level)

Short period

Medium period

Long period

AIMS OF MANPOWER PLANNING AND FORECASTING• Walker (1968) points out that the aim of

manpower planning is ‘…forecasting and planning for the right numbers and the right kinds of people at the right places and the right times to perform activities that will benefit both the organisation and theindividual in it’.

REQUIREMENT OF MANPOWER FORECASTING

PLANNING FLOWCHART

Forecasting

• Step 1: Determine forecasting period.• Step 2:Determine critical factors to be

forecasted. • Step 3: Select Forecasting methods.• Step 4: Gather information about the predicted

environment. • Step 5: Complete Performance analysis. • Step 6: Validate or develop a new mission.

FORECASTING TECHNIQUES

1. Managerial judgement2. Scatter plot3. HR budget and planning analysis4. Scenario forecasting5. Regression analysis6. Nominal group technique7. Job analysis