BSBMGT517 Manage Operational Plan: Operational and Risk Management

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BSBMGT517 Manage Operational Plan

Table of Contents
Assessment Task 1...................................................................................................3
Assessment Task 2...................................................................................................6
Assessment Task 3.................................................................................................12
Assessment Task 4.................................................................................................18
References..............................................................................................................23

Assessment Task 1
Explain the purpose of a Strategic Plan and an Operational Plan, and the role of an
Operational Plan in achieving the organisation’s objectives.
The strategic plan is those techniques which are made for the achievements of long term goal of
the organisation whereas the operational plans are referring to those processes which help in the
performing & achieving the calculated targets. In short, the operational plans lead to the
achievement of strategic plans. The role of the organisation plans is to provide the clarification of
the work and responsibilities of different members that helps in the achievement of the goals. It
also consists of the implementation of different ideas and planning (Muenjohn& McMurray,
2018).
Outline the information that is usually included in an Operational Plan.
For doing the effective operational planning, there is the need of including various information
that is raising the performance which consist of effective strategic planning that supports the
work efficiency, specified as well as measurable goals & objectives for not deviation formwork
path, accountability and proper time frame for the effective functioning, proper monitoring and
evaluation for the quality determination and the effective communication for effective working.
Explain a typical process for developing an Operational Plan.
For developing an operational plan, the following points are needed to be considered so that the
plan which is developed should work effectively and efficiently. In this regard, there is a need to
initiate strategic planning. With following this, there is a need to focus on the major goals which
are important for the company goals. Always try to complete the task before the deadline. Avoid
lagging habits. Avoid the development of KPI (Key performance indicators) in the void and
there is a need to establish effective communication (Galyna, et. al., 2019).
Explain the purpose of a budget.
The budget basically includes the estimation of the income as well as expenditure of the
organisation which is work for the maintenance of the organisation. It is a decision-making tool

or model which decides the flow of action and accordingly the financial estimation is done. As
with this effect it is used to monitor and control the processing of the business to maintain its
effectiveness (Foster, 2017).
Explain a typical budgeting process.
In order to generate a typical budgeting process, the following things are needed to be
considered. It includes the following steps:
i. Need to update the budget assumption as per the available trends like sales as well as cost
trends.
ii. Fund availability and consider all the factors which can affect the cost structure.
iii. Generate a budgeting system and calculate the estimated revenue.
iv. Generate and distribute the department budget and maintain its compensation
v. Bonus plans as well as updating the budget model.
vi. Review the whole budget before finalizing it.
vii. Approval is the next stage after the finalization. It means that no one is having any kind
of objection with that budget.
viii. Issue the budget finally.
Explain the purpose of key performance indicators.
A Key performance indicator is a tool which helps in determining the actual position of the
organisation through its working. It mentioned the focus of working which is ultimately affecting
the performance of the organisation. It helps in effectively handling the multi-level hierarchy
structure for efficient functioning and also it increases the efficiency (Vera, et. al., 2017).
Discuss four approaches to developing key performance indicators.
There are many approaches to developing key performance indicators like:
i. Defining the organisation goal and objective clearly.
ii. The organisation should measure the goals timely and properly so that it can compare it
with its present performance and accordingly do some planning in maintaining the
effectiveness.

iii. The path travelled for achieving those goals is a very important concern which is needed
to be maintained as to check its actual deviation from the work.
iv. Proper accounting and monitoring is needed to be done to control its quality
v. Effectiveness of doing that task which determines the importance of doing the particular
work.
Discuss the concept of a balanced scorecard as an alternative approach to measuring
business performance through key performance indicators.
The balanced scorecard is an alternative approach to measure the business performance through
KPI as with the help of this scorecard, it shows the effectiveness of the working and it is
calibrated with the standard requirement of the company. With this, the quality performance is
measured and it led to the assessment of its performances.
Explain the concept of benchmarking as a way of assessing business performance.
Benchmarking is a way of assessing business performance as it gives the criteria of the
evaluation. Usually, it is considered with the last record of the same. With the help of
benchmarking, the evaluation is done on the basis of the last performance of the organisation that
how much increment or decrement an organisation is attained in its performance.
Provide a definition of a PCBU and outline their key responsibilities.
PCBU stands for the person conducting the business and undertaking which defines all types of
business arrangement and activities need to be done in favour of achieving the goals and
objectives of the organisation. Its key responsibilities are to ensure the safe work environment,
plant & structure. It also ensures the safe handling of different types of equipment and tools for
effective working. It also does proper accounting and monitoring for maintaining effectiveness.
Outline the aim and scope of the Fair Work Act 2009.
The Fair Work Act 2009 is basically working on the maintaining of fairness and transparency for
the maintenance of effectiveness in the work environment. It aims is to encourage and focuses
the low paid employees to engage them in enterprise bargaining. It includes "faith in the
bargaining schemes", "binding the determinants”, etc.

Assessment Task 2
Draft Operational plan & risk management plan
Operation Plan:
Strategies Actions Details of
resources
required to
achieve actions
Timeline Who KPIs and
processes for
checking
Renting for
suitable
commercial
properties
Publishing
advertisement
Newspapers,
posters &
templates
4 week Student
service officer
Covered
requirement
Staffing
requirement
Recruitment &
promotion
Email,
newspaper,
online vacancy
release
2 weeks Human
Resources
Manager
Passed test
Fitting out
requirement
Take interview Interviewing
officers &
candidate
(Johnes, 2015).
3 week Principle Reviewed
requirement
Equipment
requirement
Need to equip
with all the
requirement
Telephone,
computer,
chair, table, etc
1 week Management
team
Covered
requirement
Market
requirement
Effective
education
Trainers,
students &
teacher
1 month Operation
manager
Automated
tests

Risk Management Plan:
i. Scope of Assessment: Risk Analysis
ii. Critical Success factors: Students
iii. Internal & external stakeholders: Operation manager, CEO, Principle, students, etc.
Risk Conseq
uences
Sever
ity
Ratin
g
Likeli
hood
rating
Control
method
Person
response
Time
line
Pri
orit
y
rati
ng
Monitori
ng
Accepting
policy change
will be a
constant factor
to manage
Organis
ation
develop
ment
7 High Modificat
ion as per
requirem
ent
Positive 2
week
s
3 Proper
evaluation
Maintain
Effective
Communicati
on
channels with
stakeholders
Effectiv
e
develop
ment of
the
campus
8 High Regular
meeting
Positive 6
mont
hs
3 Audits
Diversificatio
n
of source
markets
Availabi
lity of a
variety
of
resource
s
6 Mediu
m
Proper
inspectio
n (Kiefer,
et. al.,
2017).
Neutral 2
mont
hs
2 Audits

Write an email to the Senior Management Team with a draft operational plan and risk
management plan attached
From:
To:
Subject: Draft Operational Plan & Risk Management Plan
Respected sir,
This is here to bring in your kind notice that the draft report has been generated and attached
along with this mail highlighting the operational as well as a risk management plan for the
effective development of our 2 new campuses in Sydney and Brisbane. It is all under the budget
allotted to us. Kindly look after these plans and issue the notice of implementation and pleases
mention if any modification is required.
Thanks & regards
Operations Manager

Update operational plan and risk management plan as per discussion
Note: As per the discussion and the feedback received, there is a need to amend the time
intervals as it is taking too much time and on the same hand it will improve the different rating
performances.
Operation Plan:
Strategies Actions Details of
resources
required to
achieve actions
Timelines Who KPIs and
processes for
checking
Renting for
suitable
commercial
properties
Publishing
advertisemen
t
Newspapers,
posters &
templates
2 week Student
service officer
Covered
requirement
Staffing
requirement
Recruitment
& promotion
Email,
newspaper,
online vacancy
release (Rubin,
et. al., 2015).
1 week Human
Resources
Manager
Passed test
Fitting out
requirement
Take
interview
Interviewing
officers &
candidate
1 week Principle Reviewed
requirement
Equipment
requirement
Need to
equip with
all the
requirement
Telephone,
computer, chair,
table, etc
2 days Management
team
Covered
requirement
Market
requirement
Effective
education
Trainers,
students &
teacher
2 weeks Operation
manager
Automated
tests

Risk Management Plan:
i. Scope of Assessment: Risk Analysis
ii. Critical Success factors: Students
iii. Internal & external stakeholders: Operation manager, CEO, Principle, students, etc.
Risk Conseq
uences
Sever
ity
Ratin
g
Likeli
hood
rating
Control
method
Person
response
Time
line
Pri
orit
y
rati
ng
Monitori
ng
Accepting
policy change
will be a
constant factor
to manage
Organis
ation
develop
ment
9 Extre
me
Modificat
ion as per
requirem
ent
(
Chaudhar
y, 2018)
Positive 1
week
4 Proper
evaluation
Maintain
Effective
Communicati
on
channels with
stakeholders
Effectiv
e
develop
ment of
the
campus
9 Extre
me
Regular
meeting
Positive 3
mont
hs
4 Audits
Diversificatio
n
of source
markets
Availabi
lity of a
variety
of
resource
s
7 High Proper
inspectio
n
Positive 1.5
mont
hs
3 Audits

Write an email to the Senior Management Team with an updated operational plan and risk
management plan attached
From:
To:
Subject: Updated Draft Operational Plan & Risk Management Plan
Respected sir,
This is here to bring in your kind notice that the updated draft report has been generated and
attached along with this mail highlighting the operational as well as a risk management plan for
the effective development of our 2 new campuses in Sydney and Brisbane. It is all according to
our discussion during the meeting and for the improvement purpose; it is modified as per that
requirement which has improved the rating factors. It is all under the budget allotted to us.
Kindly look after these plans and issue the notice of implementation.
Thanks & regards
Operations Manager

Assessment Task 3
Implement strategies for recruiting staff
Kings Edward VII college is planning for its expansion hence; the college is an urgent
requirement of the additional Staff. This is the formal request to the CEO for approval of the
positions of the required staff (Noe, et. al., 2017).
The total staff required by the Kings Edward VII is as follows:
i. A receptionist
ii. A Student services officer
iii. 3 trainers (one trainer per student)
iv. In order to recruit the required staff members, following steps needs to be taken:
v. Create an advertisement and the advertisements must reflect the reason for why would
someone prefer to work at Kings Edward
vi. The advertisement must reflect the work atmosphere of the college
vii. The college must use social media in order to advertise the need for the recruitment of the
staff
viii. The college must consider in investing Applicant Training System. The system will help
in finding the qualified trainers as per the requirement
ix. As per the policy and procedure for recruiting the staff at Kings Edward college it must
consider posting advertisements in the college
x. The last step is to conduct interviews to examine the talent of the interviewees
(Karjalainen and Salmi, 2013).