Planning for Success: Models, Methods, Budgeting, KPIs, and More

Running Head: Planning for Success
Planning For Success
Individual Questions

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Table of Content
1. Describe models and methods for operational plans................................................................2
2. Explain the role of an operational plan in achieving the organisation’s objectives.....2
3. Explain budgeting processes................................................................................................................ 3
4. List alternative approaches to developing key performance indicators to meet
business objectives............................................................................................................................................ 3
5. Outline the legislative and regulatory context relevant to the operational plan of the
organisation.......................................................................................................................................................... 4
6. Outline the organisation’s policies, practices and procedures that directly relate to
the operational plan...........................................................................................................................................5
7. Develop and implement an operational plan using a variety of information sources
and consultation (including using specialist advice if required) which includes:.................6
8. Communicate effectively with relevant stakeholders to explain the plan and
supporting information, seek approvals, negotiate variations and engage work teams. 10
9. Develop and implement strategies to achieve the operational plan within the
organisation’s policies, practices and procedures including........................................................10

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1. Describe models and methods for operational plans
Most of the people often confuse operational plan with the strategic plan which the
company creates for duration ranging from 2-5 years. Operation plan on the other hand
can be understood as the what, who, why, when and how of the daily operation over the
next course of year. Organization use plethora of models which help them in better
planning of their operations such as Total quality management, ISO quality management
standards, Malcolm Baldrige Criteria for Performance excellence, six sigma quality
process and many more. The organization uses these models as a benchmark and a
systematic process to bring improvement in its current operational plan.
The methods of operational plan have certain key elements which have to be adhered to
strictly. The key elements encompassing the operational plan include, laying out clear
objectives, identifying the activities to cover, setting the quality standards, setting up of
Key performance indicators and targets, creation of a risk management plan, staffing
and budgetary requirements, implementation timetables and a process for monitoring
the progress. Following the above mentioned step along with the models stated in the
section helps the organization to come up with the operational plan to boast its
operational activities.
2. Explain the role of an operational plan in achieving the organisation’s
objectives
As mentioned earlier that operational plan includes the who, what, when and how of the
operation will take place in the course of time. The underlying role and purpose of the
operational plan is to provide a clear direction to the employee personnel in terms of
their tasks and responsibilities with the aim of aligning them to the goals and objectives
of the strategic plan for the organization. Thus, the role of operational plan is for the
implementation of the strategies contained in the strategic plan. By clearly defining the
roles and responsibilities of the individuals and creation of their KPI in sync with the
strategic objectives and goals helps the employee to move in a clear direction. Thus, all
of their efforts and synergies are diverted towards accomplishment of the objectives
and goals of the organization. Operational plan in a way gives a sense of clarity and

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purpose to the employee, who then works with enhanced productivity to achieve the
organizational goals. The operational goals can be considered as the short term
objectives which help the organization to achieve its long term objectives. Once the
employees in the organization are clear with their path, it becomes fairly easier for
them to help the organization in achieving its long term objectives.
3. Explain budgeting processes
Budgeting can be seen as the tactical implementation of a business plan which helps in
the achievement of the goals and objectives of the organization. Budget helps in
financing the business plan, setting up measures and indicators of performance and
make changes along the way. The steps identified in bringing a successful budget in the
organization are:
 Identification of the goals- The organization has to clearly identify and
determine the goals for the organization to create budget in accordance to the
goals.
 Organizational Overview- This step helps in understanding the resources the
organization already have to achieve the goals of the organization.
 Identifying the Physical, Human and Financial Cost
 Creating the budget
Another important element in the budgeting process is its implementation and
execution, thus the organization engages and involves only those people who are
actually pivotal to adhere to the budget and implementation of the organizational
objectives to achieve the goals for the organization. It is very much important to keep a
buffer in the expenses while arriving at the budget; because there are strong chances
that variance from the budget will actually happen.