Operational planning Assignment PDF
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Added on 2021-05-30
Operational planning Assignment PDF
Added on 2021-05-30
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Running head: OPERATIONAL PLANNINGOperational planningName of the studentName of the universityAuthor note
1OPERATIONAL PLANNINGQuestion 1Models and methods for operational plansColour Petri Nets is a model and tool used for operational planning. This is a modellinglanguage capable of graphically representing the concurrency, system concepts and non-determinism. This can be conducted at diverse levels of abstraction by combining mathematicalframework and functional programming language to develop synchronization, resource sharing,allocation and concurrency. Formal methodDiscuss with the stakeholders about the specificationsDocument the specifications and sent for approvalNecessary changes are made if stakeholders requires changes in operation planDevelop the operational plan and the actions that have to be takenAllocate resources and assign employees to each of the tasks for effective execution ofthe operational planSet benchmark performance to maintain the quality of the projectMonitor the progress of the operational plan and take necessary actions for any deviationInformal MethodDiscuss ideas with the stakeholdersImplement the plan immediatelyMonitor the plan to evaluate the output
2OPERATIONAL PLANNINGQuestion 2Role of an operational plan in achieving the organisations objectives Organizational structure will consist of factors such as roles, responsibilities and rules.Organizational structure will develop a system in order to achieve the organizational goals. Theflow of information with the organization is determined by the organizational structure. Aspecific example is a centralized structure where information flows from top down and on thecontrary information flows at different levels with the organization. The objectives define the structure of any organization and the organizational structuresare developed in as such way in order to facilitate the realisation of objectives. The operational plan are developed based on particular objectives and unlikeorganizational structure the objective of each operational plan are different and keep on changingdepending upon the requirement. Question 3Explain the budgeting process. In order to develop an effective budget the organization will have to prepare forcontingency at all times. In order to achieve this, the organization will have to divide the tasksinto three categories and they are essential, desirable and dispensable. The budgeting process ofany organization will remain the same depending upon the type of budget. The five processes areas follows:Identifying the information flow where the organization can either use top downbudgeting or bottom up budgeting
3OPERATIONAL PLANNING The organization will have to identify the factor that will measured and the priorities inthe budgetThe organization will have to gather historical data which will consist of developing salesinformation and expense informationThe organization will have to make projection based on the collected historical data andbudget will totally depend on the projection. It can either incremental budgeting or zerobased budgeting and some companies use hybrid approach.The final step of budget is breakeven point determination Question 4Alternative approaches to developing key performance indicators In order to develop indicators of performance the organization will have to analyseessential sources of information:The organization will have to analyse the industry benchmarks which is same for all thecompanies in the sectorThe organization will have to evaluate the benchmarks used by the other companies todevelop the indicatorsMoreover, the internal organizational processes will have to be evaluated to developquality standards in order to control the quality of the products The historical data related to pervious performance indicators will also have to beexamined to identify the key performance indicatorsThe indicators will have to be allocated to all areas of business processes and this will consistof measuring of all operational processes such as inputs, outputs and process outcomes.
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