BSBMGT515A: Manage Operational Plan Essay

2.3 Implement operation plan within own area of responsibility; The operational plan that I have submitted is from my area of responsibility, this has been devised by using the organisational strategy and working out my areas on responsibility. This allows me to have an end goal and then I need to plan how to achieve it. Once this is done I can work out a step by step plan of what needs to be done and by whom. This is all added to the plan along with any other obligations that will arise like staff supervision and appraisals and monitoring. I can then arrange the plan so that it is ordered by

An operational plan can be defined as a strategy planned by an organization that clearly defines action that it will take to support objectives of upper management.

Determinate resources necessary to complete the task. It may require money, training, advice and other resources.

“Access to good financial information is essential to success in the policy and financial management arenas” (Bartle, Hildreth, Marlowe. P. 222). Proper accounting is the cornerstone to working towards a balanced budget. The CAFR (comprehensive annual financial report)

In the economy today every business has a need for a strategic plan. Strategic plans are most vital for small businesses to have a strategic plan because they comprise the majority of local businesses and are more likely not to survive. No matter if the business is small or large it is important to keep this plan updated and evaluated to the businesses current standings. Typically a plan should focus on the following two to three years when it is being created.

Strategic planning is different from operational planning in that it involves making long-term decisions about the entire organization. Tactical planning translates broad goals and strategies into specific actions to be taken within parts of the organization.  Operational planning identifies the specific short-term procedures and processes required at lower levels of the organization.

An organization’s top management most often conducts strategic planning” (Web Books Publishing, 2010, para. 4-8). Tactical planning is designed to provide specific means which help with the proper implementation of strategic planning. Operational planning is designed to provide specific steps and actions to be taken in order to achieve strategic and tactical planning (Web Books Publishing, 2010).

An operations plan is a manual for operating your organization. Designed, to ensure that you or me accomplish the goals. By using a process of determination in advance of setting short-range objectives. What, and how, will the steps will be accomplished? It’s a major or minor key piece of a puzzle, for any goal-oriented team.

ProFound Marketing Consultancy (PMC) is a startup partnership between Mr. AB Ace and Mr. PQ Perfect. It will provide business

The strategic allocation of resources for an organizations goals must both be short term, and long term. It must take into consideration costs of employment, costs of service, costs of insurance, costs of resources for operation, timetables for the managment of these costs and (last but not least) sources of revenue. Of course, accurate ways of measuring the effectiveness of funds (i.e. are the funds our organization allocates for project-X yielding the successful results-Y that we are looking for) are also indispensible aspects of financial management, crucial to any organization. This, too, implies an ability to keep accurate records of where financial resources go in an organization; the more detailed and up-to-date, the better. (Already, we begin to see how, within financial managment, information management becomes important).

The purpose of the operational plan is to focus on shorter term objectives usually within 1 up to 3 years. For plans of 2 to 3 years, a more detailed breakdown of shorter timeframes should be included within the body of the document. An operational plan provides detailed information on planning, resource, implementation and funding for projects normally developed from the strategic plan. An operational plan should contain indicators to measure progress and performance. When written an operational plan will be defined by the

Each user of the financial statements interprets the information in a different manor. They use the information to determine their interactions with the organization. Management, investors, and employees use the same information from the financial statements but for different purposes. These four basic statements are the fundamentals of accounting which can be much more detail and complex. They do not need to be more complex for the users of the information; these basic statements have all the information needed to make

DLIS has decided to develop a business continuity plan (BCP) with the full support of management.

All projects are tied directly to their budget without which costs will blow out and a loss of focus on the scope of the project would be inevitable. This would not add value to an organisation and could result in a waste of resources. A Resource Plan enables a Project Manager to predict the costs of factors crucial to a project i.e. labour, equipment and materials. The Resource Plan would encompass the schedule and the timeframes of various tasks and who has responsibility for overseeing the completion of that task. All projects require labour, equipment, materials and time and the quantities of these things should be listed in the resource plan. The some ingredients, for example, computers, stationary, construction materials, and amounts may differ from task to task or project to project.

Planning is considered to be a primary function of management. All organisations operate in a complex, dynamic and competitive business environment, and therefore, have to plan their actions without which they may not be able to survive.