BSBOPS502 || Manage business operational plans || Assessment Task 1

ASSESSMENT 1: WRITTEN
REPONSES & PROJECT
BSBOPS502: Manage Business Operational Plans

Name: Shashank Thumma

ID: C2916M0822
Professor: Varun Chowdhary

FEBRUARY 12, 2023

Shashank Thumma C2916M0822 Page 0 of 7

 Part A
Question 1:
A strategic plan is essentially an organisational process that assigns desired strategic goals to
define the organization's direction and strategy. It may also include a guiding mechanism for the
strategy's implementation. Operational planning entails deciding on objectives, strategic goals,
and technical as well as objective goals. The operational aim serves as a road map for the
strategic plan.

Question 2:

The operational plan for the organization is modelled as a whole, and it identifies the objectives
and goals of the entire organization, along with its budget and planning. This is done in a broad
way, where the entire organization is viewed as a single entity. Operational plans that have been
designed for certain organisational goals are dependent on those goals' specifics, which in turn
are based on the need for particular budgets.

Question 3:
The two main approaches for creating an operational plan are standing plans and single-use
plans. In standing plans, the order of the plan is intended to be repeated, much like in rules,
procedures, and regulations. While the objectives of a single-use plan are addressed as a one-
time event, its length may vary, but its budget and timeline are constrained.

Question 4:
The two main approaches for creating an operational plan are standing plans and single-use
plans. In standing plans, the order of the plan is intended to be repeated, much like in rules,
procedures, and regulations. While the objectives of a single-use plan are addressed as a one-
time event, its length may vary, but its budget and timeline are constrained.

Question 5:
The seven steps that make up the traditional budgeting process are:

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  Defining goals, 
 Indicating costs and income,
 Distributing wants and needs, 
 Creating a budget, 
 Assigning a plan of action, 
 Calculating costs, and 
 Getting approval.

Question 6
There are many ways to create key performance indicators; four of them are as follows:

 Addressing operational and strategic plans

 Define the success criteria. 
 Measure efficiency. 
 Measure productivity.

Question 7
A balanced scorecard is an alternate method for evaluating the performance of a company using
key performance indicators; it covers a range of outcome areas, including financial and customer
services. Businesses that use balanced scoreboards compile data from a variety of sources into a
single report that has an emphasis on service and quality as well as financial success and is
intended to increase efficiency.

Question 8
Benchmarking is used to evaluate the performance of businesses by highlighting areas that need
to be improved. This is accomplished by keeping a close eye on the competition. In the business
environment, competitive advantage is achieved by providing something better or cheaper
compared to others in markets.

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 Question 9
The term PCBU, which stands for "person conducting a business or undertaking," refers to the
principal source of power tasked with upholding the employees' safety, health, and fair working
conditions. In terms of resources and safety training, PCBU is essentially a legally designated
institution or authority that ensures the safety of employees.

Question 10
The Fair Work Act, which was created in 2009, focuses on the preservation of a number of
rights, including those related to workplace rights, human rights, and the freedom from
discrimination. This is a broad act of fairness that should be implemented in the company to stop
employee exploitation and to give them legitimate grounds for workplace rights through
reasonable ways.

Part B
Operational Plan
Strategie Actions Details of resources Timeline Who KPIs and Monitorin
s required to achieve s monitorin g actions
actions g plan
Appropriate  Real estate https://www.domain.com.au/ February Operationa Locations on
campus agents real-estate-agencies/belconnen- 2022 l manager campus that
locations  Acquisitio act-2617/ February are
n steps 2023 appropriate
and meet the
criteria
outlined in
the business
plan
Budget Locations must  Cost Effectiveness One Term Finance Establishing
constraints be within  Budget management manager an
define budget appropriate
campus
acquisition in
accordance
with the
business
plan's
specifications
New staff Post add for  Hiring One year Human appropriate
required staff  Interviews resource hiring of
positions personnel in
accordance

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 with the
needs
outlined in
the company
strategy
Equipment’ Have new Detailed bid specifications were 2 months Finance proper
s infrastructure included in the tender so that manager equipment
interested businesses may purchasing in
submit bids. accordance
with
guidelines.
Marketing Advertise about  Advertise on local 2 months Marketing Appropriate
renting of land, newspapers manager method to
hiring  Advertise on social media follow the
employees, and platforms marketing
bid for  Follow up to advertisement standards to
equipment’s meet the
desire
criteria’s.

Contingency Plan
A contingency plan is created to make sure that all management team planning is done in a way
that meets the objectives of the operational plan.

According to the Australian and New Zealand Risk Management Standard AS/NZS 4360:2004,
the contingency plan is.

Risk: Probability of something happening which might alter the outcomes.

Likelihood: The probability of qualitative description

Consequence: Negative outcome of the expected results

Risk Assessment: The complete process of evaluation and analysis

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Risk Rating chart= Severity * Likelihood.

Risk Assessment
Scope of assessment Contingency planning to meet objectives
Critical success factors The opening of 2 new campuses
Internal & External stakeholders Management, contractors etc
Risk Consequences Rating Contingency Person Priority Monitoring
responsible rating process
Cannot Fail to open new 8 Increase in Finance and High Ensures
locate campuses budget operational reports are up
suitable managers to date
location regarding
research on

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 campuses
Budget Failure to meet 10 Unconditional Finance High Research
need more original budget circumstances manager thoroughly to
then requirements to increase the include even
defined budget minor details.
Cannot Failure to hire 6 Increase the Human Moderate Keep up with
find qualified staff to range of resource marketing
appropriat run in new marketing to manager standards
e staff campuses attract more
qualified
individuals
Fail to Campuses 4 Ensure the bids Finance Low Maintain the
retrieve without are placed in manager record of bids
equipment equipment and time and to ensure
furniture contractors are smooth
trustworthy transition
Inefficient Advertisement 4 Ensure that all Marketing Low Keep up with
marketing failed to reach the relevant manager the marketing
desired audience marketing campaign to
schemes are ensure that
explored audience is
engaged in
advertisment.

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