Cost benefits analysis of alternatives of the Bank Muscat

            Cost benefit analysis consider a tool in the management of the project. It helps in evaluating the cost and benefits of the project. It also include payback period, net present value, internal rate of return and return on investment. The difference between cost and benefit determine with different methods that help to determine how much cost and benefit favorable for the organization. In project management, the purpose of cost benefit analysis is to have a systematic approach that determine the positive and negatives effects of different methods including all the tasks, transactions, investment and business requirement. Cost benefit analysis provide the best approach to obtain its target with the most saving in investment. Its helps in offer the project’s benefits are more than its cost by comparing different projects (Mukherjee, 2012). As we know, we are going to start a complete information system in the Muscat bank and here we are going to discuss the cost benefit analysis of the human resource management system. We have more than one information system which can be applied in the human resource management system but first we have to determine which system is most suitable for bank and the given questions must be gathering to take better decision in selection. The goals and objectives of the project, determine other systems to select the best one, all the measurements that are going to use to apply the analysis, the outcomes of cost and benefit related to system. Also determine the currency used in the system, consider the net present value of all the available options, sensitivity analysis must be consider. This analysis is very supportive in determining the best option selected for the human resource management system. And give benefit in long term time period.

Input/output designs of the system:

       The input design of the information system which going to be implemented in the human resource management system, must be consider with great care because many important must be consider while inputting the data. The input of human resource management system include employees related information for example experience, training, education, present salary, present status, the policy of organization, its procedures, and other necessary information must be consider while input the design of the system. The reports are depends on the files categorized and stored in the database that is virtual, and will mechanically consider and summarize all of the applicable taxes. The management have more than one information system which can be applied in the human resource management system but first we have to determine which system is most suitable for bank and the given questions must be gathering to take better decision in selection.

             All the basic information related to human resource management must be important to collect and save for the future need of the organization.   Data in the form of raw must be collected from files and enter through computer systems the proper check and balance must be consider related to information to determine whether it is correct or not. The computerized system of human resource management is very important as compare to manual system that takes too much time and also not enough cost effective. No errors can be found in the human resource management system with smooth information system. It provides the information as soon as possible whenever it is required by the organization and provides assurance of data security.

Output design of system of the Bank Muscat

            Output belongs to the results of input data in different forms. The data must be available in usable form so that it can be used at any time at any place. Many transformed material can be obtain  like salary statement, average cost of production of goods, budget estimate, report on performance of an employee and cheques to be issued to the parties. It works as supportive decision system that provides high quality information that must be accurate, comprehensive, readable, consistent and relevant. Output design of the system must be clearly explain that what sort of information they are going to provide to their users. Output designs must be prepare carefully as it provide the solution of problems happen within the organization and all the results depend on the output of the system. The system is going to be more effective when both input and out designs are work effectively and they are provide best results for the system because in human resource management system, if the input goes wrong then its output automatically goes wrong and the overall system going to show an error and effect the credibility of the organization due to poor system input or output.