To Director, School of Commerce and Management

PROJECT REPORT
SYNOPSIS
Jadhav Anant Shivajirao, PRN No: 2008017000727743

Yashawantrao Chavan Maharashtra Open University, Nashik

 PROJECT REPORT SYNOPSIS 2010

PROJECT PROPOSAL (SYNOPSIS)

“A STUDY ON PERFORMANCE APPRAISAL SYSTEM IN

KIRLOSKAR FERROUS INDUSTRIES LIMITED”

Submitted By:

Jadhav Anant Shivajirao

PRN No: 2008017000727743

Study Center: B.P Sulakhe Commerce College, Barshi

Study Center Code: 6504A

Under the Guidance of:

Mr. Avinash Dhavan

MBA Department,

Bharati Vidyapeeth University

Abhijit Kadam Institute of Management & Social Sciences,

Solapur.

Submitted To:

The Director,

School of Commerce & Management,

Yashawantrao Chavan Maharashtra Open University, Nashik

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 PROJECT REPORT SYNOPSIS 2010

CONTENTS

INTRODUCTION, IMPORTANCE & 4, 5

SIGNIFICANCE OF THE STUDY

RATIONALE 5, 6

OBJECTIVES 6

HYPOTHESIS 7

RESEARCH METHODOLOGY 7

EXPECTED CONTRIBUTION 8

CAUTERIZATION 9

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INTRODUCTION, IMPORTANCE & SIGNIFICANCE OF THE STUDY

The history of Performance Appraisal is quite brief. Its roots in the early 20th century

can be traced to Taylor’s pioneering time and Motion studies. But this is not very helpful,

for the same may be said about almost everything in the field of modern human

resources management.

As a distinct & formal management procedure used in the evaluation of work

performance, appraisal really dates from the time of the second world war-not more

than 60 year ago. Yet in a broader sense, the practice of appraisal is a very ancient art.

In the scale of things historical, it might well lay claim to being the world’s second oldest

profession. A basic human tendency to make judgment about those one is working

with, as well as about oneself. In the absence of a carefully structured system of

appraisal, people will tend to judge the work performance of other, including sub-

ordinates, naturally, informally & arbitrarily.

The human inclination to judge can create serious motivational, ethical & legal problems

in the workplace. Without a structured appraisal system, there is little chance of

ensuring that judgments made will be lawful, fair, defensible & accurate.

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In Company there are various levels of Managerial Category. Depending on

departments, sections, responsibility, nature of work everybody performs the job. But in

modern days the time has come where all the employees are expected to perform the

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 PROJECT REPORT SYNOPSIS 2010

job which will aim at achieving Management’s Annual Operating Plan. For this purpose

the Annual Operating Plan is given to the respective Department Head, who in turn

divides this in small activities, which individual has to understand, the expectation of job,

performance, initiatives, task, competency at the initial stage & perform the job as per

the expectation & time limit.

The Appraisal System shall be done in a transparent manner. This Appraisal System

enables identification of developmental gaps. The Appraiser & Apraisee arrive at an

agreement on the gaps perceived. This system helps the Management in assessment

of individual, merit, competency, professional knowledge & skills. This also helps for

consideration of recognition & promotion.

RATIONALE

In Kirloskar Ferrous Industries Limited every year in the month of July, the Managers

promotion, increment are considered and done. For this Annual Performance rating is

done based on quarterly evaluation of Appraisal Forms. To study Appraisal System

with evaluation of Appraisal Forms has encouraged the need of study. Study will start

with collection of data, analyzing the process & finalization of evaluation. The study

focuses more on two aspects –

1) Companies Annual Operating Plan

2) Individual quantitative targets & key results areas.

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The study will be helpful to the management to provide the clear information about

Appraisal System, evaluation of individual performance and which will be leading to

achieving company’s target / goal. It will also give a message to all the managers that

the person will be rewarded, promoted based on his performance. Also individual

employee gets the information about his area of improvement and also his expectation

from management regarding resources and support.

OBJECTIVES

1. To provide feedback to managers so that they come to know where they

stand and can improve their job performance.

2. To provide a valid database for personnel decisions concerning placements,

pay, promotion, transfer, punishment, etc.

3. To diagnose the strength and weakness of individuals so as to identify further

training needs.

4. To improve coaching, counseling, career planning and motivation to

subordinates.

5. To develop positive superior-subordinate relations and thereby reduces

grievances.

6. To facilitate research in personnel management.

7. To test the effectiveness of recruitment, selection, placement and induction

programmers.

Thus, Performance Appraisal aims at both judgment and developmental efforts. The

first two objectives are judgmental whereas the remaining is developmental. Under

developmental efforts employees are helped to identify their weakness and take steps

to overcome them.

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HYPOTHESIS

Hypothesis testing is done with the help of increment / promotion given to the

Managers.

For this random sampling by asking few questions to the concerned Managers method

will be adopted and it will be compared.

RESEARCH METHODOLOGY

Methodology study is based on data of individual Appraisal Forms, evaluation, rating.

Based on this –

1) No. of increments given in the last year

2) No. of promotions given in the last year

3) Identification of training needs & bridging the gaps between performance & skills.

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EXPECTED CONTRIBUTION

FOR MANAGEMENT –

The managers view will be collected and summary will be submitted to the

Management for necessary improvement in setting individual targets,

improvement in skills, authority & responsibility, which will help in

accomplishment of company’s Annual Operating Plan.

FOR MANAGERS –

A clear-cut message will be passed to the Managers that, for progress of

the company as well as individual, the tasks, goals, targets set by

in-consultation with his superior are to be achieved, failing which he may

be declared as non performer / non useful to the organization. In other

words an manager who performs as per the expectations of his superior

and complete the tasks are recognized, rewarded, promoted.

FOR MANAGEMENT STUDENTS –

Management Students can learn effectiveness of Appraisal System.

The students understand the strength & weakness of an individual

perceptiveness of the concerned in making self disclosure & feedback

from superior. This also helps in improving the interpersonal relations with

superiors by understanding the expectations from the Management.

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CAUTERIZATION

SR. NO. NAME OF THE TOPIC

1 INTRODUCTION TO STUDY

1.1. Introduction

1.2. Objectives

1.3. Limitations & Scope

1.4. Methodology
2 ORGANIZATIONAL PROFILE

2.1 Introduction to Company

2.2 Company Background

2.3 Company Product

2.4 Department & its functions

3 THEORETICAL BACKGROUND
4 DATA ANALYSIS & INTERPRETATION
5 FINDINGS
6 SUGGESTIONS
7 ANNEXURE

8 BIBLIOGRAPHY

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