BSBMGt517 Manage Operational Plan Online Tutoring

Manage Operational Plan

1. Research, analyze and documenting resource requirements to develop an operational plan in consultation with relevant personnel such as colleagues and specialist resource managers is key for success. Explain your understanding on what this involves including planning models as part of your response.

Planning is usually a part where strategists put a lot of time in gaining and processing information. Before the execution, all the possibilities of the risks associated with the actions are measured and resolved. According to Towbin et al. (2018), operational planning is execution throughout the organisation, but the plan takes place within the organization’s hierarchy. It is also unnecessary that planning is for a particular project but a change in the previous process or a new venture. Research, analysis, and documentation are an integral part of the action plan. Just like a war plan before attacking the enemies, the group needs to identify all the possible moves the enemy could take and then nullify their action to win. The crucial points to discuss while making an operational plan is:
⦁ Time of the project (long term or short term): Decisions about when the project will start and end are put in to consideration. Time frames are supposed to be specified during the initial stage of the project.
⦁ Financial Aid: A company decides how much capital is available for the project and how much it needs to acquire. It also deals with risks that can cause the need for funds. However, it is a fundamental task to convince investors and suppliers into an agreement about the plan. The plan further requires resources to achieve a profitable outcome from the project.
⦁ Human resources: Moreover, labor and skills needed are also part of the program. Deciding the quantity and quality of work that should be employed is an important question.
⦁ Strategy: Every process should go through discussion, including all types of external and internal factors that can affect the project. For instance, if the company is planning on introducing new software, the question arises: is there enough expertise in the market that can work with it, or are the internal staff competent enough to utilize the software to its maximum potential?

2. As a manager, you will need to develop and implement consultation processes as an integral part of the operational planning process. How would you approach this? Be sure to include an explanation on why, the important situations, the consultation processes, providing feedback to the stakeholders and work teams, plus the methods of disseminating information.

As a manager, I would first start brainstorming ideas from internal employees of the department. Therefore, numerous ways are available to consult team members for their input on a particular project. Among which Emails are frequent. It can also help with quality assurance and improvements. Hence emails are an efficient way to share a single message to a group. Cloud-based meetings where employees can connect and share ideas through inspiration online is also a fantastic way of consultation. Many architects around the world communicate similarly. They propose a design in the online meeting, and other architects suggest changes. Likewise, the procedure plays the role of a pillar in the planning process and achieving goals. Also, I have witnessed many companies using newsletters to provide the staff with relevant information and open opportunities for feedback. As a manager, I could also hire a research team that could create surveys, questionnaires, and information sessions. After internal research, consultations with the stakeholders are also essential as they provide funds for execution. For this matter, formal meetings take place. Additionally, all the data gathered should be present in an orderly format.

3. Describe your understanding on how including key performance indicators (KPIs) in the operational plan to measure organizational performance is essential. Include in your response what Benchmarking is, list at least 3 alternative approaches to developing KPIs and give at least 5 examples of some typical KPIs used in organizations.

Benchmarking and Key Performance Indicators (KPI’s) is a tool for evaluating tools used in business. In the current market, practices benchmarks help compare the company’s performance with the industry’s performance. In contrast, Key Performance Indicators evaluate performance with the strategic goal of the firm. Key performance indicators are a valuable instrument as it estimates the balance of the company.
While developing KPI’s some approaches can be KPIs that flow down from organizational goals, KPI’s that go from operational ground activities and KPI’s that are set according to past experiences. Also, for a proper understanding of KPI’s, some examples are given below:
⦁ Customer inquiries answered within 5 minutes.
⦁ Sales in the new product line.
⦁ Electricity consumption of modern machinery.
⦁ Quantity of raw material used in production.
⦁ Time duration of product delivery.

4. How do you develop and implement contingency plans for the operational plan? Give 4 examples of contingency planning options and describe how to manage risks, use risk assessment matrixes and develop some strategies you can put into place to reduce the risk.

Contingency plans re kind of a plan B. It deals with a situation that is uncertain or unexpected. Simply if things go wrong, the company needs to have a solution ready. Moreover, to develop a contingency plan, there are many options. First, we need to scrutinize what is our objective then select the suitable choice of contingency. The commonly used option is to outsource, diversification, low-cost products, and increasing sales.

Outsourcing human resources or labor to minimize cost is a common practice by organizations. For instance, My company needs a workforce of 10 people to complete 100,000 orders. It is easier for me to call up an agent and ask for it. The agent will then go through the process of hiring interviewing, assessing, and hiring for the company. Further, diversification means that the work is divided into all departments. As an illustration, a UK based company provides a unique project that can make the company an internationally recognized company. Therefore, every department will work towards achieving the goal. A convenient option is to produce affordable and lower quality products. Just as China does, they present low priced products, which results in profitability. Another option is to increase sales by catering needs and providing the best customer services, like well-known brands, to accommodate the customer. Rental and hiring alternatives are better ways to get hold of cheap resources than buying them. Negotiation helps to save on cost on the procurement of these resources needed.
Risk tells any unplanned disastrous event that can hurt the company or its profitability. The risk management process is used to assess causality. Risk management process is a step by step procedure to evaluate all aspects of risk involved in the project. Therefore, companies should take this step very seriously and scrutinize the impact of risk.
A risk matrix is used to check the seriousness of the uncertainty.

Strategies for tackling risk include training of staff, regular maintenance of machinery, precautions for employee health, and numerous supplier and buyer options.

5. As a manager, you need to ensure the development and presentation of proposals for resource requirements is supported by a variety of information sources and seek specialist advice when required. What do you need to consider in compiling a well written presentation / report e.g source documentation, features, and layout.

While compiling a report to present, we need to consider the critical information about the project. The presentation should contain a strategic plan that appeals t the stakeholders and a proposal that demonstrates the potentials behind the project. Information that needs to be compiled are :
⦁ Marketing strategy
⦁ Human resource strategy
⦁ Management strategy
⦁ technological strategy
⦁ Specialist advice for the support
⦁ customers’ feedbacks
⦁ Risk involved
⦁ Contingency plan

6. What steps are involved in obtaining approval for the plan and explain the plan in terms of its relevance with work teams?

An operational plan first should be understandable by the stakeholders. The approval process is through a systematic approach, as it is essential to back it up with relevant justifications. The decision is mostly based on profitability. Henceforth, it is central that managers represent their operational plan along with the company’s goals.
Once everyone is agreed, the information to the staff in the form of informal meetings. Informal meetings are generally held every week. Details can also be circulated with the work teams through email and cloud-based knowledge-centric programs usually installed in a company.

After approval, every department divides a more significant task into smaller tasks and assigns them to the employees. After a decided fixed time, the managers gather up with the performance details and work on improvements. Managers also do have a meeting with their work teams for feedback.

7. Developing and implementing strategies ensures the employees are recruited and inducted within the organization’s human resources management policies, practices and procedures. What is your understanding of this process & ensure you address the fundamentals to achieve success, some key legislation, and what is required for recruiting, selection and induction.

All the team member obtains a set of responsibilities before the job. Jobs and roles are advertised with specifications. Employees can apply according to their demands and skills. Therefore, A resume is sent to the organization, then the selection process assumes in the form of an interview. The first step is to explain the role and responsibility associated with the job. At the same time, the recruitment process is it lucrative to understand a candidate and their potential to do the job.
After interviews, an accepted offer, or a contract is offered to the selected candidate. The agreement is a mutual document for the employer and employee that involve the Human Resource department. The report has a description of:
⦁ The mechanism of the workplace
⦁ Role description
⦁ An agreement under the fair work act
⦁ Duration of work
⦁ Job description and title
⦁ Allowances
⦁ Leave entitlements
⦁ Period of probation
⦁ Policies and procedures
⦁ Any variation to the terms of employment
⦁ Confidentiality of the workplace
In the last stage, the employee gets acquainted with the roles and responsibilities. The employee goes through an overview of the workplace. An orientation moment permits them to recognize their department and the goal of the operational plan.

8. What do you need to consider when developing and implementing strategies to ensure that physical resources and services are acquired in accordance with the organization’s policies, practices and procedures? You will need to explain SOP, the culture, the guidelines and the categories of resources.

Physical resources and services are planned according to the budget, and some market practices are executed to minimize cost. Therefore, strategies should be according to the organization’s policies and practices. A relationship with the supplier should be reliable as it helps builds productivity, efficiency, and ability to compete in the market. Also, supplier are the best people to gain advice from, the expertise and knowledge give the company access to information
Transport facilities are also considered during the operational plan. Planning like storing, delivering, and supplying, the goods are crucial matters of discussion. Communication should be clear, and the supplier should know the company’s goal. Every single member should show honesty towards work, and ethical behavior should be practiced.

9. How do you recognize and incorporate requirements for intellectual property rights and responsibilities in recruitment and acquisition of resources and services? Please include infringement and considerations such as purchasing, HR, patented processes, copyright and trademarks in your discussion.

An extremely crucial stage in business is intellectual property rights. The organization takes proper actions to secure its intellectual property. As soon as resources are acquired resources, it is of a great deal to acquaint with the intellectual property’s rights and responsibilities. However, non-compliance may lead to legal consequences.
Intellectual property is sheltered by numerous policies, procedures to strengthen the rights. Policies and procedures comprise of licensing agreements, copyright protection, licensing agreements, and registration of intellectual property rights. Usually dealing with suppliers and buyers, such methods are followed thoroughly. Any purchasing done should be under the copyrights. No one can use the company’s name without consent. However, even in human resources, all documents are under the company’s letterhead. Copyright is an alternative way of protecting the initial creation of a concept. Therefore, a copyright notice elucidates that the owner only has the right to use all the information.
Additionally, there are trademarks too that helps secure intellectual property. Before applying for registrations, the database is scrutinized for similarity. Once the process is transparent, the application of registration will go forward.

10. What is involved in developing, monitoring and reviewing performance systems and processes to assess progress in achieving profit and productivity plans and targets. Be sure to include variance analysis, acceptable levels of variation, monitoring employee performance, performance appraisal, triple bottom line reporting and balance scorecard in your explanation.

Monitoring performance is a continuous process , it helps keep targets in track The company s operation plan set certain KPI’s for the employees as well

Quality assessment is involved in reviewing the performance. It gathers aggregate data to calculate and examine performance. It helps to formulate a quality monitoring system to enable the design of monitoring tools. This is done to observe the trends in the monitor process. Data is utilized to identify any harm that can result in poor performance. External evaluation is a procedure through which an external body offers feedback about an organization’s performance.

Performance appraisals are also used to get feedback from the management and HR department. Managers are responsible for assessing employees to whether they are competent in the tasks as per organizational requirements. Variance analysis is a tool to identify what steps can be taken ahead to keep progress in the track. It also tells the manager if the production or resources are not up to the mark.

Triple bottom line reporting is also used as performance evaluating tool. It considers three areas that should work simultaneously for productivity. Likewise, the balanced scorecard also works with past financial and learning, customer, and business processes.
Additionally, Process appraisal is a functional instrument to identify if the performance is failing or needs improvement. All these techniques are present market practices and help evaluate the position of the company.

11. When monitoring and reviewing the profit and productivity performance, what analysis and interpretation of the budget and actual financial information do you need to do? Looking for discussion on budget preparation, what budgets include and financial analysis and reporting.

Once the manager is clear of the budget , the primary factors to consider for financial decision are :
⦁ All the expenses incurred
⦁ The ratio analysis
⦁ The forecast about the future expenses
⦁ The cash flow statements
⦁ The profit and loss statement
⦁ The balance sheets of crediting and debiting cash
⦁ The liability report

12. As a manager you need to identify areas of under-performance, recommend solutions and take prompt action to rectify the situation. What are some of the aspects you need to consider especially for under-performance and how to improve this situation eg 8 step resolution process?

A manager needs to identify areas that are underperformed. To do a proper analysis some methods are used which are :
⦁ Checking routine service and maintenance reports
⦁ Regular workplace inspections
⦁ Analyzing the variation in production
⦁ Looking into number of customer complaints and the nature of complaint
⦁ Customer provided feedback or requests
⦁ Reports regarding Plant or equipment failure and breakdown
⦁ Staff performances
After going through details regarding all the above mentioned areas . As a manager I would note down the part where there is some serious lacking Then will looking fr alternative solutions and implement it.

13. When planning and implementing systems, we need to ensure that mentoring and coaching are provided to support individuals and teams to effectively, economically and safely use resources. What are some techniques or uses for coaching and mentoring in your organization?

The mentor will induct a skill gap analysis in the employees. To make the training more productive mentors center of attention are their team. The managers also need identify whether the problem is unawareness of goals or is it from an individual performance. If performance is the problem then coaches bare supposed to be teaching the group. Contrary, if the problem is behavioral then a mentor is obliged to deliver the specific individual. Hence, coaches and mentors are elected from the company to have better understanding of the situation. It is significant to incorporate mentors and coaches to offer continuing response from the staff members.

14. What do you need to consider when negotiating recommendations for variations to operational plans and gain approval from designated persons/groups? Expand on at least 4 issues that have a significant impact on the cost or resources and how you manage negative variances.

Variations are the difference between the budget set and the actual budget. These variations can create problems when explaining the operational plans. 4 issues impact on the cost or resources. Fist one is favorable excessive sale in which we can increase the production to meet the demand. Second variation is unfavorable low sale which can be seasonal and have an impact, in such case, export is a god option or creating a product line that suits the demand of the current situation can be a great solution. The third variance is unfavorable high expenditure that means we need to see our inventory carefully. The last one is favorable low expenditure, keeping the inventory turnover to the fullest.

15. What systems do you develop and implement to ensure that procedures and records associated with documenting performance are managed in accordance with organizational requirements? Ensure you describe about the policies, systems, procedures and records associated with documenting performance.

Documentation is the major form of report in the organization. Therefore, it is important maintain continuing documentation. The act of keeping records is done in every department. Improvement record of processes facilitates in measurement of performance. Documentation consists of operational plans, strategic goals, contingency plans quality improvements and many. These types of documentation are highly recommended. Scorecards are available i most of the companies to measure performances. All the records are now computerized the employee just needs to input data. All the data input can be viewed by the managers. Some information can also be accessed by other departments, as all of them are interconnected. At meeting, data are measured with the past information to forecast or see the trends of the company.

16. Explain the role of an operational plan in achieving the organization’s objectives? You may need to research this answer on the internet.

An operational plan is a pathway through which goals can be achieved. The plan is a system of execution that mentions every detail. Information on every function needs to be shared with the employees of all levels. All the small tasks, when synchronized together, can achieve organizational objectives. All the departments in an organization are interlinked, so is the operational plan. It mentions every piece of detail for the execution of processes in a firm. As a result, if followed correctly, it can help achieve goals.