BSBMGT517 Manage Operational

plan

Answer by Tikaram Ghimire. This

document for idea for new student not for
copy. If you copy you might copyright.
What is the role of an operational plan in achieving the organisations
objectives? (20-40 words)
Answer Operational Plan provides organisation's personnel with
a -clear picture of their tasks and responsibilities in line with the
goals and objectives contained within the Strategic Plan.
Operational plans provide a clear picture of the required steps
required to achieve an organisation's overall vision and
missions. An operational plan breaks down larger objectives into
achievable milestones, and allocates responsibilities / resources
needed to achieve each step. A company may never achieve
their objective (or if they do - it may take a lot longer / cost a lot
more) as the steps required for them to achieve goals have not
been documented.
Item 2 of 14
Explain what a GANTT Chart is, and the associated benefits to
Operational Planning.  You must include a sample? (25-50 words)
Answer-dependencies between activities and current schedule status."
A Gantt chart lets you see everything related to your project in one
place, making it easy to explain to others and your team. Avoid resource
overload and measure project progress.

Item 4 of 14
Describe 4 types of documents / information that are commonly
referenced when developing an operational plan project.  Include an
outline of the information contained within, and how it influences the
parameters of your plan. (50-75 words)
business plan
A business plan outlines the direction of the business, deadlines for
goals, and ensures that goals and stakeholder expectations are met.
- mission statement
A mission statement expresses the company's core values and direction
and ensures that project parameters and processes are aligned.
- Organization chart
An organizational chart outlining the people and positions within the
company.
- budget
A budget provides an allocation of funds for areas of operational
planning and outlines the funds available for operational planning.

tem 5 of 14
Briefly explain 5 different legislation, organisational policy or procedure
that may impact on operational plan implementation. (25-50 words)
• Public sector codes of ethics/conduct
• Work health and safety and environment requirements
• Project governance requirements
• Quality standards
• Risk management
• Procurement guidelines
• Budgetary framework
• Financial management requirements
• Human resources
• Public relations
• Equal employment opportunity, equity and diversity
principles.
Human Rights and Equal Opportunity Commission Act 1986
- Grounds of discrimination
- Breaches of human rights by any Commonwealth body or
agency
- Discrimination in employment on the basis of: race, colour,
sex, religion, political opinion, national extraction, social origin,
age, medical record, criminal record, marital status, impairment,
disability, nationality, sexual preference and trade union activity.
Racial Discrimination Act 1975
- Grounds of unlawful discrimination Race, colour, descent or
national or ethnic origin
Privacy laws
 - Privacy Act 1988 - Privacy Amendment (Private Sector) Act
2000
These laws require businesses: To protect information of
individuals, not to disclose such information unless permitted by
such individual - Copyright Act 1968.
Copyright is a form of intellectual property that protects a variety
of literary, artistic, musical and dramatic endeavours
Copyright is intended to protect creative works from being used
without the agreement of the owner

tem 6 of 14
. Describe the following principles / legislative requirements: (20-40
words each).

1. Equal Opportunity

The Equal Opportunity Act applies to a wide range of employment

situations, including traditional employment relationships as well as
independent contractor arrangements.

2. Work health and safety - Employer rights and responsibilities

As an employer you must provide a safe and healthy workplace for

your workers and contractors. This includes:

• providing and maintaining safe plant (such as machinery and

equipment) and safe systems of work (such as controlling entry to
high risk areas, controlling work pace and frequency and providing
systems to prevent falls from heights)

3. Anti-discrimination

Legislation intended to stop discrimination against specific groups

of persons is known as anti-discrimination law or non-
discrimination law; these groups are frequently referred to as
protected groups or protected classes. Privacy regulations

4. Privacy laws

The Privacy Act 1988 (Privacy Act) was introduced to promote and
protect the privacy of individuals and to regulate how Australian
Government agencies and organisations with an annual turnover
 of more than $3 million, and some other organisations, handle
personal information

5. Copyright

The rights are granted exclusively to the copyright owner to

reproduce the material, and for some material, the right to
perform or show the work to the public. Copyright owners can
prevent others from reproducing or communicating their work
without their permission or may sell these rights to someone
else.
tem 7 of 14
What are the key purposes / objectives of creating and using an annual
budget? (20-40 words)

Business forecasts help a business predict cash flow, and future

growth.
Forecasting future growth allows a business to plan ahead, in
terms of increasing or decreasing equipment, production or
human resources.
As a forecast is the best guess of what will happen to the
business financially over a period of time, it requires regular
review and amendments when circumstances change. -
Create a yearly budget to provide a holistic, big picture view of a
company finances - Take into consideration irregular expenses-
Estimate all of expenses, including occurring only once or
twice - Predict cash flow, and future growth - Forecast
future growth
tem 8 of 14
What are the key purposes / objectives of forecasts? (20-40 words)

Transparency - the budget documents provide a clear link

between objectives and expenditures Co-ordination and Co-
operation - involve relevant people in budget conversations.
Integration - of recurrent and development budgets
Flexibility - the system allows responses to changed
circumstances
Accountability - involve the CEO an relevant others
Comprehensive - include all revenues and expenses .
 Forecasting is a technique that uses historical data as inputs to
make informed estimates that are predictive in determining the
direction of future trends.
Businesses utilize forecasting to determine how to allocate their
budgets or plan for anticipated for an upcoming period of time.
This is typically based on the projected for the goods and
services offered.
Item 9 of 14
What is the importance of milestones and KPI's when budgeting /
forecasting? (20-40 words)
The KPI chosen should properly reflect strategic goals and key
areas important to the accomplishment of a certain job or activity
within the organisation and for the business as a whole. These
indicators aid in making the objectives measurable and in
enhancing control and knowledge over how well individuals,
teams, and the overall business are performing. Milestones and
KPIs are assumed to be met when forecasting. Typically,
estimating future earnings starts with calculating the volume of
sales, which is then multiplied by the unit price. It is exceedingly
challenging to carry this out without KPIs and milestones.
Realistic, attainable, and cautious milestones and KPIs are
required. Within the accounting community, a cautious approach
to forecasting is often regarded as best practise, as. Milestone
and performance indicators may include o compliance with
scheduled payment dates o debt reduction targets o profits and
losses o reports
▪ quarterly
▪ half yearly

▪ annually
Item 10 of 14
What information is needed in order to create an accurate financial
forecast for a business? (20-40 words)
The other two columns are used in the Favorable (F) and
Unfavorable (U) variance reports. On the other hand, the
unfavorable column defines that variance increases when actual
income is lower than budgeted income.
- Establish goals
 - Establish objectives
- Prepare Budget Calendar
- Define roles in budget preparation
- Gather and review budget request
- Prepare budget document, ensuring following principles
- Transparency - budget provides clear link between
objectives and expenditures
- Co-ordination and Co-operation – include relevant people in
budget discussion
- Integration - of recurrent and development budgets
- Flexibility - the system allows responses to changed
circumstances
- Accountability - involve the CEO and relevant others
- Comprehensive - include all revenues and expenses
tem 11 of 14
Describe the steps that are in most company budgeting procedures. (20-
40 words)
Establish objectives, set targets, and create a budget calendar.

Establish roles for budget preparation, collect and assess budget

requests, and create budget documents while adhering to the
main concepts listed below:
. Transparency: The budget records make it obvious how goals
and expenses are related.
. Coordination and Collaboration - Include pertinent parties in
budget discussions. · Integration of the development and
ongoing budgets
.Flexibility - The system enables reactions to newly emerging
situations. Accountability: Include the CEO and other
appropriate parties. o Complete - incorporate all receipts and
outgoings
- Establish goals
- Establish objectives
- Prepare Budget Calendar
- Define roles in budget preparation
- Gather and review budget request
- Prepare budget document, ensuring following principles
 - Transparency - budget provides clear link between
objectives and expenditures
- Co-ordination and Co-operation – include relevant people in
budget discussion
- Integration - of recurrent and development budgets
- Flexibility - the system allows responses to changed
circumstances
- Accountability - involve the CEO and relevant others
- Comprehensive - include all revenues and expenses
Item 12 of 14
Briefly describe 5 characteristic that should form part of a Key
Performance Indicator. (25-50 words)
• Consistent with the agency's goals, strategies, and vision; • Placed
more emphasis on agency-wide strategic value than on less-important
local business outcomes; selecting the incorrect KPI can lead to
unproductive behaviour and suboptimal results; • Specific - clear and
focused to prevent misunderstanding or ambiguity; • Representative -
relevant to the agency as well as its operational performance.
- Understood – Staff know how their behaviours and activities
contribute to overall goals
- Agreed – all contributors agree and share responsibility
- Reported – regular reports are made available to all stakeholders
- Governed – accountability and responsibility is clear
- Resourced –program is cost effective and adequately resourced
- Assessed – regular assessment to ensure relevance
Item 13 of 14
Briefly describe 3 alternative approaches to developing key performance
indicators to meet business objectives. (20-40 words)

Different techniques for producing key performance indicators can be

implemented depending on organisational procedures:
1. Cause and effect: Using the cause and effect technique, KPIs for
addressing the root cause of ineffective or inefficient services, functions,
or activities may be identified. The strategy examines the cause or
causes and then identifies KPIs that address the result. In general,
improvements can be made by addressing the effect.
2. Risk-based: The risk-based approach identifies the particular services,
tasks, or activities that could be harmful or destructive to the agency.
There are numerous ways to detect risk, and these typically include two
parameters: the likelihood or probability that a risk will materialise and
the consequences of that likelihood.
3. Lifecycle approach - Using a lifecycle approach to develop KPIs would
ensure that an agency takes into account KPIs at all stages of a record's
life, from creation to disposal. This example relates to record keeping.
Each stage could alternatively be thought of as a separate lifespan,
including the creation of suitable KPIs.
Item 14 of 14
What is the difference between a strategic KPI and an operational KPI?
(20-40 words)

• Strategic KPIs have broader scopes and longer completion windows.

These periods could range from two to ten years.• Operational KPIs are
more easily measured, specified, and targeted (within a shorter time
frame). These are more focused on projects.