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BSBOPS502 MANAGE BUSINESS OPERATIONAL PLANS STUDENT VERSION PROJECT PORTFOLIO Questions Provide answers to all of the questions below: 1. Explain: 1. the purpose and content of an operational plan 1....

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BSBOPS502
MANAGE BUSINESS OPERATIONAL PLANS
STUDENT VERSION
PROJECT PORTFOLIO
Questions
Provide answers to all of the questions below:
1. Explain:
1. the purpose and content of an operational plan
1. the role of an operational plan in achieving the organisation’s objectives
1. the purpose and content of a contingency plan.
1. Explain the difference between an operational plan modelled on the organisation as a whole and one that has been modelled to suit a specific organisational goal or department.
1. Describe typical methods for developing an Operational Plan.
1. Complete the table below to describe information sources necessary to develop and present operational plans. The first row has been completed as an example for you to follow.
    Information source
    Description
    Examples (provide 1)
    Colleagues/Employees
    Colleagues may be part of the same team, or from another team.
    Team membe
CFO
Manager of a different team
    External consultants
    
    
    Strategic plan
    
    
    Budgets and forecasts
    
    
    Legislation and regulatory authorities
    
    
    Organisational policies and procedures
    
    
1. List four ways to consult with stakeholders:
1. Complete the table below to describe the requirements for resources included in operational plans:
    Resource Type
    Description of the resources and 2 examples:
    How to acquire the resource:
    Physical
    
    How do you acquire physical resources and/or services?
    
    
    What does a procurement process include (list at least four considerations)?
    
    
    Relevant organisational policies and procedures (at least one):
    Financial
    
    What workplace documents provides information about financial resources? (describe at least one):
    
    
    How does the budgeted and actual finances influence profitability and productivity of the operational plan?
    
    
    Explain how to obtain additional finances:
    Human
    
    How do you recruit staff?
    
    
    List at least two induction strategies:
    
    
    Relevant organisational policies and procedures (at least one):
1. Explain the purpose of key performance indicators.
1. List four different approaches to developing key performance indicators.
1. Explain the procedure for documenting performance, including records that should be kept.
1. Provide a definition of a PCBU and outline their key responsibilities under WHS laws.
1. Outline the aim and scope of the Fair Work Act 2009.
Project Portfolio
BSBOPS502- Manage Business Operational Plans
    
    Contents
Section 1: Planning for an operational plan    5
Section 2: Developing an operational plan    9
Section 3: Managing operational performance    14
    
    
    Student name:
    
    Assessor:
    
    Date:
    
    Business this assessment is based on:
    
    Documentation reviewed as preparation:
    
    
    Section 1: Planning for an operational plan
    About the organisation
Provide an overview of the organisation and product/services/programs.
Describe the key functions and activities of the work area you will develop an operational plan for.
Briefly describe at least two objectives outlined in the strategic plan (if there is no strategic plan for your business, develop two objectives for your work area or business).
Describe your job role.
Explain how your job role contributes to the
oader goals of the business or work area.
    
    Source information
Identify stakeholders who will contribute to the operational plan and provide relevant approvals:
Who are they (consider escalation, specialist resource manager, colleague, client)?
What contribution will they make?
What will they approve (if relevant)?
Identify and summarise any legislation relevant to the operational plan you develop.
Identify and summarise any organisational policies and procedures relevant to the operational plan you develop. (Attach proof to this section of your portfolio).
Summarise the financial information (e.g. budget and forecast) that will inform spending and (attach proof to this section of your portfolio).
    
    Identify potential activities
What potential activities are required to address the objectives (at least three per objective)?
What are your suggested time frames for each activity?
Who will be responsible for the completion of each activity?
    
    Establish potential human resource requirements
For each potential activity in the operational plan, list the human resources required (at least one new human resource should be required).
For each human resource:
esearch and summarise information on resource options and how the resource may be sourced (e.g. can internal staff do the job, are consultants required etc.?).
analyse options and choose one.
explain how the resource will be recruited and inducted following policy and procedure.
explain any financial implications (e.g. approval required, amount to be budgeted for etc.).
explain any Intellectual Property (IP) requirements, rights and responsibilities linked to the resource.
    
    Establish potential physical resource requirements
Use the information from your research and knowledge of your work area.
For each potential activity in the operational plan, list the physical resources required (identify at least one).
For each physical resource:
esearch and summarise information on resource alternatives (e.g. RPA vs human input)
analyse options and choose best one
explain how the resource will be obtained/purchased following policy and procedures
explain any financial implications (e.g. approval required, amount to be budgeted for etc.)
explain any Intellectual Property (IP) requirements, rights and responsibilities linked to the resource (other than those already considered).
    
    Establish potential KPIs
For each activity, establish measurable KPIs.
Show how you approached establishing the KPIs in a mathematical way using problem-solving.
How do the KPIs reflect financial requirements?
List ways to monitor the KPIs.
    
    Identify data security issues
Identify any data security requirements or issues associated with the activities.
    
     Attach:
    Proof of policies and procedures relevant to work area and/or operational plan
    ☐
    
    Proof of financial information and relevant calculations (e.g. budget, graphs)
    ☐
    
    Section 2: Developing an operational plan
    Consult with others
Summarise the outcomes of your meeting with relevant stakeholders:
Which stakeholders did you consult with?
Why were these stakeholders part of the consultation process?
Were any changes to your suggested activities, resources, timeframes, KPIs and monitoring processes requested?
Describe how you collaborated to achieve joint outcomes.
How did you seek feedback, advice and support?
If not already viewed in person by your assessor, attach proof of the consultation to this section of your portfolio.
    
    Objective
    Activity
strategy to achieve objective
    Person responsible for completion
    Timeline
    Resources required
    KPI
    Budget
    Objective selected from strategic plan
    Activity required to realise objective
    Person responsible for the activity’s successful completion
    When must the activity be completed by or during which period is it to be completed
    Human and physical resources required to complete activity
    KPI to measure and monitor success of the activity
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    

Page | 2
Develop a contingency plan.
    Activity/strategy to achieve objective
    Potential risks
    Planned Response
    Activity required to realise objective
    Risk associated with the activity
    How you will mitigate the risk
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Approve plan
Follow organisational policies and procedures to seek approval for your operational plan:
Who will you seek approval from?
How will you seek approval?
Attach proof of approval (e.g. minutes of executive team meeting, draft email) to this section of the portfolio.
    
    Document resource requirements
Document the resource requirements (following organisational policy and procedures).
Attach proof to this section of the portfolio.
    
    Explain plan to team
Attach proof to this section of the portfolio (if not already viewed in person by the assessor).
    
     Attach:
    Proof of stakeholder meeting (if relevant)
    ☐
    
    Documented resource requirements
    ☐
    
    Operational plan (if you did not use the provided table)
    ☐
    
    Contingency plan (if you did not use the provided table)
    ☐
    
    Proof of operational plan approval
    ☐
    
    Explanation to team (if relevant)
    ☐
    
    Section 3: Managing operational performance
    Confirm human resource acquisition
Confirm that any new staff members required to complete the activities in the operational plan were recruited and inducted according to the organisation’s policies, practices and procedures (e.g. via email, face-to-face conversation, survey etc.)
Attach proof to this section of the portfolio.
    
    Confirm physical resource acquisition
Confirm that any new physical resources and services required to complete the activities in the operational plan were acquired according to the organisation’s policies, practices and procedures (e.g. via email, face-to-face conversation, invoices, quotes etc.)
Attach proof to this section of the portfolio.
    
    Incorporate Intellectual Property (IP) requirements
Take necessary steps to ensure any IP requirements (established in Section 1 of your Project Portfolio) are incorporated in the execution of activities (e.g. memo to staff, contractual agreement, email to include it in induction process etc.)
Attach proof to this section of the portfolio.
    
    Plan and implement monitoring
Choose one activity and its related KPI.
Establish a process that can be used to monitor and document performance of the KPI (either using a flowchart or words).
Implement the process (e.g. by placing a poster in the office, sending an email etc.)
Attach proof of your implementation to this section of your portfolio.
    
    Assess progress
Assess and document the progress of the activity you selected to monitor in the previous step (use the data showing underperformance).
You may consider:
Is it likely to be completed within the timeframe set?
Will it meet budget?
Are any additional resources required?
Are any resources under-performing (identify at least one)?
Attach relevant data/proof of progress to this section of your portfolio.
Attach documented performance to this section of your portfolio.
    
    Negotiate and approve variations
Summarise the outcomes of your negotiations with relevant stakeholders:
Who was part of the negotiation?
What are reasons for underperformance and how can it be solved?
What did you negotiate (e.g. adjusted timeframe to allow for additional training)?
How can you support the resource going forward?
Which variations were approved?
Attach proof of your negotiation to this section of your portfolio (if not already viewed in person by your assessor).
    
    Approve variations.
Gain approval from relevant stakeholders for the negotiated variation(s).
Attach proof to this section of your portfolio (e.g. minutes of executive team meeting, email etc.).
    
    Address underperformance
Confirm that support is provided where necessary according to policy and procedures (e.g. email to a
ange training).
Attach proof of confirmed support to this section of your portfolio.
    
     Attach:
    Proof to confirm recruitment and induction processes
    ☐
    
    Proof to confirm physical resource acquisition processes
    ☐
    
    Proof of incorporated IP requirements
    ☐
    
    Proof of implementation of monitoring process
    ☐
    
    Proof of data/progress (if relevant)
    ☐
    
    Documented performance
    ☐
    
    Proof of negotiation (if relevant)
    ☐
    
    Proof of approval
    ☐
    
    Proof to confirm additional support
    ☐


    
    Case Study – WORLDUCATION
Worlducation is a social startup that manufactures tablet computers for primary school students. They not only focus on the
Answered 7 days AfterFeb 25, 2022

Solution

Deblina answered on Mar 02 2022
31 Votes
QuestionsPROJECT PORTFOLIO
Provide answers to all of the questions below:
1. Explain:
1. The purpose and content of an operational plan
1. The role of an operational plan in achieving the organisation’s objectives
1. The purpose and content of a contingency plan.
The purpose of an operational plan is to outline the activities and the aims of the organisation in order to ca
y out certain facts functions for achieving the designed aims and objectives that has been developed in the strategic plan.
It includes the structure of an organisations day-to-day operations and other requirements for the organisational operations.
The purpose of the contingency plan allows the organisational operations to normalize even after an unforeseen event or
eakdown.
1. Explain the difference between an operational plan modelled on the organisation as a whole and one that has been modelled to suit a specific organisational goal or department.
The distinguishing aspect between the operational plan model on the organisation and the one that is modelled on a specific organisational goal or a department it is that the operational plan is effectively presented for the whole company that includes all the departments. While, operational plan for the small units within the organisation are outlined to operate only particularly those units or department. It is developed to achieve the aims and objectives of the particular department.BSBOPS502
1. Describe typical methods for developing an Operational Plan.
The methods of developing an operational plan involves mapping out the strategies of the organisational operation and followed by the plan of the actions that are contemplated with the organisational operations.
1. Complete the table below to describe information sources necessary to develop and present operational plans. The first row has been completed as an example for you to follow.MANAGE BUSINESS OPERATIONAL PLANS
    Information source
    Description
    Examples (provide 1)
    Colleagues/Employees
    Colleagues may be part of the same team, or from another team.
    Team membe
CFO
Manager of a different team
    External consultants
    External consultants are those who are associated with the organisations and provide objectivity and neutrality for continuing the business of the organisation from the external aspects rather than from within the organisation.
    Outsourcing Consultants
    Strategic plan
    A plan that contemplates the entire activities of the organisation in a systematic way for achieving the goals and objectives of the organisation.
    Marketing Plan
    Budgets and forecasts
    Budget is the financial statements of the business that accommodates all the expenditures and the revenue concerned with the organisational operation. Forecast refers to the predictions of the financial variable of the organisation for the long-term future based on the present values.
    Income & Financial Statements
    Legislation and regulatory authorities
    Legislations and regulatory authorities are the potential stakeholders that are responsible for the management processes of the organisations and abide by the effective policies.
    WHS Regulations & Work Health & Safety Act
    Organisational policies and procedures
    Organisational policies and procedures provide a set of guidelines and rules that are effective for decision-making processes and the aspects that helps to function an organization
    Sustainable Policies & Procedures
1. List four ways to consult with stakeholders:
· Meeting with the stakeholders.
· Sending email and newsletter to the stakeholders.
· Sending the project summary report of the organisation to the stakeholders.
· Organising a conference call for communicating the relevant aspects of the organisation with the stakeholders.
1. Complete the table below to describe the requirements for resources included in operational plans:
    Resource Type
    Description of the resources and 2 examples:
    How to acquire the resource:
    Physical
    · Furnitures
· Building
    How do you acquire physical resources and/or services?
· Online
· Instore
· Third Party- Consultancy Services
    
    
    What does a procurement process include (list at least four considerations)?
· Planning Process
· Selection Process
· Administration Process
· Closing Process
    
    
    Relevant organisational policies and procedures (at least one):
Continuous Improvement Policies & Procedures
    Financial
    · Bank Loan
· Stakeholders Capital
    What workplace documents provides information about financial resources? (describe at least one):
Profit & Loss Statement is a workplace document that provides information about the financial status of the organization. It includes the relevant profits and loss statements viable for the financial health of the organization.
    
    
    How does the budgeted and actual finances influence profitability and productivity of the operational plan?
Assimilating the earlier trends with the recent forecasts contemplating the detailed view of the assets, revenue, expectation and the ways to balance against the anticipated expenses.
    
    
    Explain how to obtain additional finances:
· Collecting capital from the shareholders.
· Raising debt from the bank.
    Human
    · Staff
· Contractors
    How do you recruit staff?
· Reviewing the cu
ent structure.
· Creating a position description.
· Finding a potential staff.
· Evaluating the application.
· Conducting the selection procedures.
· Hiring the candidates.
· Organising training for the staff.
    
    
    List at least two induction strategies:
Organisational procedure.
Workplace safety and code of conduct.
    
    
    Relevant organisational policies and procedures (at least one):
Sustainable Policies & Procedures
1. Explain the purpose of key performance indicators.
The key performance indicators reflect the performance parameters of the organisation and demonstrates how potentially the organisation is operating to achieve its objectives. Organisations mainly demonstrate and use key performance indicators at multiple levels in order to evaluate their success at every levels.
1. List four different approaches to developing key performance indicators.
· Developing goals and objectives of the organisation.
· Establishing the success factors from the goals and objectives.
· Establishing the key performance indicators like high profitability, high customer retention rates, lower turnover rates and so on.
· Collecting the measures.
1. Explain the procedure for documenting performance, including records that should be kept.
· Developing a record retention schedule.
· Policies and procedures.
· Accessibility indexing storage.
· Compliance auditing.
· Destroying obsolete records.
1. Provide a definition of a PCBU and outline their key responsibilities under WHS laws.
The WHS act places priority to the primary duty of care and...
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