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Resource Projection Best Practice 6 – The 45 Week Year
There are 52 weeks in a year. So a full-time employee works 52 weeks in a year, right? Wrong!
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For the purposes of personnel resource estimation, what is an individual worth? The answer may seem obvious. A full-time equivalent (FTE) or full-time employee is typically considered to be ‘worth’ 2000 hours of labor per year; calculated as the product of fifty, 40 hour work weeks.
Solutions addressing today’s multifaceted business challenges and opportunities can be extremely difficult to recognize; the ever increasing pace of change within the business environment further complicating this problem. In order to successfully deal with this challenge, decision-makers need the support of people and tools to help them distill large quantities of data, recognize important business trends, discount temporary fads, and translate their findings into meaningful organizational activities. Because no one analysis perspective will adequately account for all of the important nuances associated with a complex problem, multidiscipline teams and diverse tools should be employed to establish a complete picture organizational performance and environmental conditions. Use of a diverse set of models during the strategic analysis process helps create this needed picture.*
Executives and managers maximize their organization’s value through transformative change brought about by the effective execution of a long-range plan. Some executives and managers, by setting long-term goals, the achievement of which is supported by a tactically flexible long-range plan, establish the conditions necessary for their organization to realize the significant benefits of transformative change. In other organizations, executives and managers concern themselves with small incremental improvements, eliminating the possibility of attaining the breakaway successes of truly great organizations.
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