BSBMGT517 - King Edward VII College Operational Plan: 2-Year Plan
VerifiedAdded on 2022/11/15
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AI Summary
This document presents a comprehensive operational plan developed for King Edward VII College. The plan outlines the college's strategic objectives, which include leadership in vocational education, high-quality infrastructure, strong financial performance, and development of people and resources. Strategies to achieve these objectives are detailed, including market leadership, infrastructure development, leadership establishment, and resource development. The plan covers a two-year timeframe and assigns responsibilities to key personnel, including the CEO, Marketing Manager, Human Resources Manager, and Operations and Finance Manager. Resource requirements, including property rentals, furnishing, staffing, and marketing costs, are specified, with a total budget of $3,990,000. Key performance indicators (KPIs) are established to measure the success of each strategy, such as increased student enrollment and infrastructure establishment. A monitoring process is described, involving a committee that will assess progress weekly and fortnightly. The plan also includes a detailed risk management plan, identifying potential risks like policy changes, financial drops, and competition, and proposing mitigation measures for each. These measures range from effective marketing and financial planning to staff training and ethical practices. The plan is designed to ensure the college's successful operation and achievement of its strategic goals.
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Draft Operational Plan
The strategic objectives of King Edward VII College are as follows:
1. To be a leader in vocational education and training
2. To establish and maintain high quality infrastructure supporting clients and staff
3. To be well led, high performing, profitable and accountable
4. To develop our people and resources
These objectives will guide in developing the strategies
The strategies
The following strategies will be employed in order to operationalize the strategic objectives:
Market leadership in vocational education and training attainment
High quality infrastructure supporting clients and staff establishment
Good leadership , high performance , profitability and accountability establishment
People and resources development
The timeframe
The timeframe for this operational plan is two years
Role Responsible
The operational plan will be the responsibility of the following people:
CEO: Overall responsibility
Marketing Manager: Marketing aspects of the operational plan
Human Resources Manager: Human resource aspects of the operational plan
Operations and Finance Manager: Financial aspects of the operational plan
Administration Manager: Administrative aspects of the operational plan
Budget – this information may be purely fictional
Resource requirements (including renting suitable commercial properties, staffing
requirements, fit outs of the new campuses, equipment requirements and marketing
collateral)
Resource requirements are as follows:
The strategic objectives of King Edward VII College are as follows:
1. To be a leader in vocational education and training
2. To establish and maintain high quality infrastructure supporting clients and staff
3. To be well led, high performing, profitable and accountable
4. To develop our people and resources
These objectives will guide in developing the strategies
The strategies
The following strategies will be employed in order to operationalize the strategic objectives:
Market leadership in vocational education and training attainment
High quality infrastructure supporting clients and staff establishment
Good leadership , high performance , profitability and accountability establishment
People and resources development
The timeframe
The timeframe for this operational plan is two years
Role Responsible
The operational plan will be the responsibility of the following people:
CEO: Overall responsibility
Marketing Manager: Marketing aspects of the operational plan
Human Resources Manager: Human resource aspects of the operational plan
Operations and Finance Manager: Financial aspects of the operational plan
Administration Manager: Administrative aspects of the operational plan
Budget – this information may be purely fictional
Resource requirements (including renting suitable commercial properties, staffing
requirements, fit outs of the new campuses, equipment requirements and marketing
collateral)
Resource requirements are as follows:
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Item Unit Unit Cost No. of units Total Cost
Renting of suitable commercial
property in Brisbane
Month 40,000 24 960,000
Renting of suitable commercial
property in Sydney
Month 50,000 24 1,200,000
Furnishing the Brisbane Campus Furnishin
g cost
300,000 1 300,000
Furnishing the Sydney Campus Furnishin
g Cost
450,000 1 450,000
Added staff costs Added
salaries
lumpsum
35,000 24 840,000
Marketing costs Monthly
marketing
costs
10,000 24 240,000
Total 1830000
Resource requirements
The following resources are required to operationalize this plan:
Website revamping costs
Hiring of buildings for Brisbane and Sydney Campuses
Furnishing of hired buildings in Brisbane and Sydney
Salaries for new staff
SMART key performance indicators to measure performance
Key performance indicators are as follows
STRATEGY KEY PERFORMANCE INDICATORS
1. Market leadership in vocational
education and training attainment
10% increase in student enrolment yearly
2. High quality infrastructure supporting
clients and staff establishment
Hired buildings in Sydney and Brisbane
Furnished buildings in Sydney and Brisbane
Operational buildings in Sydney and
Brisbane
3. Good leadership, high performance ,
profitability and accountability
Annual staff appraisal undertaken
Internal audits undertaken annually
Renting of suitable commercial
property in Brisbane
Month 40,000 24 960,000
Renting of suitable commercial
property in Sydney
Month 50,000 24 1,200,000
Furnishing the Brisbane Campus Furnishin
g cost
300,000 1 300,000
Furnishing the Sydney Campus Furnishin
g Cost
450,000 1 450,000
Added staff costs Added
salaries
lumpsum
35,000 24 840,000
Marketing costs Monthly
marketing
costs
10,000 24 240,000
Total 1830000
Resource requirements
The following resources are required to operationalize this plan:
Website revamping costs
Hiring of buildings for Brisbane and Sydney Campuses
Furnishing of hired buildings in Brisbane and Sydney
Salaries for new staff
SMART key performance indicators to measure performance
Key performance indicators are as follows
STRATEGY KEY PERFORMANCE INDICATORS
1. Market leadership in vocational
education and training attainment
10% increase in student enrolment yearly
2. High quality infrastructure supporting
clients and staff establishment
Hired buildings in Sydney and Brisbane
Furnished buildings in Sydney and Brisbane
Operational buildings in Sydney and
Brisbane
3. Good leadership, high performance ,
profitability and accountability
Annual staff appraisal undertaken
Internal audits undertaken annually

establishment Annual financial reports
4. People and resources development Additional staff recruited
Monitoring processes
1. A monitoring committee will be established consisting of the persons responsible or their
representatives to check the performance of the operational plan against set objectives and
strategies.
2. A monitoring schedule will be made that covers the dates and the various sites to be visited
during monitoring
3. A detailed checklist of items to be checked will be developed to be used during monitoring.
4. Monitoring will be undertaken on weekly and fortnightly basis.
5. The monitoring committee will go through the checklist as it visits the sites according to the
monitoring schedule.
6. The committee will check the progress on the ground, interview students, staff, workers and
any other stakeholders as per the monitoring checklists.
7. A report will then be written outlining progress, milestones achieved and unachieved,
weaknesses and challenges observed, and any best practices captured. Challenges and
weaknesses will be shared with the relevant people as they are encouraged to increase their
efforts for the success of the operation plan. Best practices will be shared with other areas for
adoption in order to ensure greater success of the operational plan.
8. Subsequent monitoring exercises will build on reports of the previous monitoring to ensure
that no gaps are left unattended to.
Risk management plan to deal with operational plan contingencies
1. Identification of risks
The following are the risks that the college is likely to face:
1. Australian government changing policy in relation to industry
2. Significant drop in cash flow
3. Failure to recruit planned number of clients
4. The world recession and the domino effect
5. Over committing resources
6. Adverse changes in market conditions
7. Changes to Acts and other relevant legislation
8. Shortage of/ Difficulty in recruiting appropriate qualified and skilled staff
9. Failure to meet and manage client’s expectations
10. Failure to comply with legislation
11. Failure to control expenditure
12. Only providing business and management courses
13. Ineffective planning
14. Competitors undercutting prices
15. Non payment of course fees
16. Rate of growth in client numbers
4. People and resources development Additional staff recruited
Monitoring processes
1. A monitoring committee will be established consisting of the persons responsible or their
representatives to check the performance of the operational plan against set objectives and
strategies.
2. A monitoring schedule will be made that covers the dates and the various sites to be visited
during monitoring
3. A detailed checklist of items to be checked will be developed to be used during monitoring.
4. Monitoring will be undertaken on weekly and fortnightly basis.
5. The monitoring committee will go through the checklist as it visits the sites according to the
monitoring schedule.
6. The committee will check the progress on the ground, interview students, staff, workers and
any other stakeholders as per the monitoring checklists.
7. A report will then be written outlining progress, milestones achieved and unachieved,
weaknesses and challenges observed, and any best practices captured. Challenges and
weaknesses will be shared with the relevant people as they are encouraged to increase their
efforts for the success of the operation plan. Best practices will be shared with other areas for
adoption in order to ensure greater success of the operational plan.
8. Subsequent monitoring exercises will build on reports of the previous monitoring to ensure
that no gaps are left unattended to.
Risk management plan to deal with operational plan contingencies
1. Identification of risks
The following are the risks that the college is likely to face:
1. Australian government changing policy in relation to industry
2. Significant drop in cash flow
3. Failure to recruit planned number of clients
4. The world recession and the domino effect
5. Over committing resources
6. Adverse changes in market conditions
7. Changes to Acts and other relevant legislation
8. Shortage of/ Difficulty in recruiting appropriate qualified and skilled staff
9. Failure to meet and manage client’s expectations
10. Failure to comply with legislation
11. Failure to control expenditure
12. Only providing business and management courses
13. Ineffective planning
14. Competitors undercutting prices
15. Non payment of course fees
16. Rate of growth in client numbers

17. Unethical/ unprofessional practices of staff (when employed)
18. Small staff team
2. Risk Ranking
The above risks are ranked as follows:
Failure to recruit planned number of clients 1
Only providing business and management courses 1
Competitors undercutting prices 1
Small staff team 1
Over committing resources 2
Adverse changes in market conditions 2
Non payment of course fees 2
Significant drop in cash flow 3
The world recession and the domino effect 3
Failure to meet and manage client’s expectations 3
Ineffective planning 3
Rate of growth in client numbers 3
Changes to Acts and other relevant legislation 4
Shortage of/ Difficulty in recruiting appropriate qualified and
skilled staff
4
Failure to control expenditure 4
Unethical/ unprofessional practices of staff (when employed) 4
Australian government changing policy in relation to industry 5
Failure to comply with legislation 5
3. Mitigation measures against identified risks.
The following measures have been identified to mitigate against the above ranked risks.
Risk Rank Mitigation measures
Failure to
recruit
planned
number of
clients
1 High quality delivery of all services
Swift reaction to feedback
Skilled motivated staff
Attractive fee structures
Effective market research
Develop plans for each market
Allocate finance for each market
Monitor performance
Take early corrective action if not meeting targets/ expectations
Maintaining effective relationships with clients
Maintaining effective communication channels with all
stakeholders
Only
providing
business and
1 Weighting between diversification/ specialisation
Monitor recruitment trends per market
Forecasting
18. Small staff team
2. Risk Ranking
The above risks are ranked as follows:
Failure to recruit planned number of clients 1
Only providing business and management courses 1
Competitors undercutting prices 1
Small staff team 1
Over committing resources 2
Adverse changes in market conditions 2
Non payment of course fees 2
Significant drop in cash flow 3
The world recession and the domino effect 3
Failure to meet and manage client’s expectations 3
Ineffective planning 3
Rate of growth in client numbers 3
Changes to Acts and other relevant legislation 4
Shortage of/ Difficulty in recruiting appropriate qualified and
skilled staff
4
Failure to control expenditure 4
Unethical/ unprofessional practices of staff (when employed) 4
Australian government changing policy in relation to industry 5
Failure to comply with legislation 5
3. Mitigation measures against identified risks.
The following measures have been identified to mitigate against the above ranked risks.
Risk Rank Mitigation measures
Failure to
recruit
planned
number of
clients
1 High quality delivery of all services
Swift reaction to feedback
Skilled motivated staff
Attractive fee structures
Effective market research
Develop plans for each market
Allocate finance for each market
Monitor performance
Take early corrective action if not meeting targets/ expectations
Maintaining effective relationships with clients
Maintaining effective communication channels with all
stakeholders
Only
providing
business and
1 Weighting between diversification/ specialisation
Monitor recruitment trends per market
Forecasting
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management
courses
Match new/ planned courses to individual market/s demand
Cost benefit analysis
Developing reputation for being a specialist in business and
management courses
Developing market share for delivery of business and management
courses
Competitors
undercutting
prices
1 Maintain competitive pricing policy
Monitor competitors prices vs quality
Regularly review financial management models/ processes
Continue focusing on quality
Continue strategy of quality brand promotion
Small staff
team
1 Identify and source potential casual staff to call on in times of
sickness/ holiday
Planning for holidays/ leave
Maintain relationships with HR organisations
Offer incentivised pay structure for casual staff
Over
committing
resources
2 Balance activities with amount of finance available for investment
Financial planning
Monitoring of cash flow
Review invoicing/ debt recovery system
Swift response to identified issues
Accessing financial advice
Adverse
changes in
market
conditions
2 Effective communication channels
Continuous market research
Monitor new markets and overall recruitments trends for all
market segments
Scenario planning
Develop working knowledge of potential markets
Networking
Maintaining effective communication channels with all
stakeholders
Non payment
of course fees
2 Effective recruitment policies
Review of recruitment policies/ market segments
Efficient invoicing
Attractive payment structures
Payment plans
Cash flow management
Timing of collecting fees
Significant
drop in cash
flow
3 Identify operating costs as per future plans and past performance
Identify available finance available
Efficient invoicing and debt recovery
Accurate income projections
courses
Match new/ planned courses to individual market/s demand
Cost benefit analysis
Developing reputation for being a specialist in business and
management courses
Developing market share for delivery of business and management
courses
Competitors
undercutting
prices
1 Maintain competitive pricing policy
Monitor competitors prices vs quality
Regularly review financial management models/ processes
Continue focusing on quality
Continue strategy of quality brand promotion
Small staff
team
1 Identify and source potential casual staff to call on in times of
sickness/ holiday
Planning for holidays/ leave
Maintain relationships with HR organisations
Offer incentivised pay structure for casual staff
Over
committing
resources
2 Balance activities with amount of finance available for investment
Financial planning
Monitoring of cash flow
Review invoicing/ debt recovery system
Swift response to identified issues
Accessing financial advice
Adverse
changes in
market
conditions
2 Effective communication channels
Continuous market research
Monitor new markets and overall recruitments trends for all
market segments
Scenario planning
Develop working knowledge of potential markets
Networking
Maintaining effective communication channels with all
stakeholders
Non payment
of course fees
2 Effective recruitment policies
Review of recruitment policies/ market segments
Efficient invoicing
Attractive payment structures
Payment plans
Cash flow management
Timing of collecting fees
Significant
drop in cash
flow
3 Identify operating costs as per future plans and past performance
Identify available finance available
Efficient invoicing and debt recovery
Accurate income projections

Close monitoring of expenditure
Arrange overdraft facilities
Scenario planning
The world
recession and
the domino
effect
3 Target markets with strong growth forecasted
Monitor the economic trends
Regularly review performance in line with anticipated market
conditions
Develop culture of accepting continual change
React quickly to change
Scenario planning
Maintaining effective communication channels with all
stakeholders
Failure to
meet and
manage
client’s
expectations
3 Accurate and timely communication with potential and current
clients
Management of recruitment activities
Continuous improvement system
Regularly review learning and teaching approaches, resources,
structure and systems
Client management policies in academic and support services
Industry liaison
Reviewing effectiveness of communication channels with clients
Employing a continuous improvement approach to all operations
Continuous market research and action
Systematic feedback on management performance and personal
reflection
Ineffective
planning
3 Experienced management team
Continuous market research
Planning system
Organisation structure and systems
Regular review of structure, systems and procedures
External liaison
Maintaining effective communication channels with all
stakeholders
Rate of
growth in
client
numbers
3 Systematic review of systems and practice
Buying in knowledge and skills
Sourcing reliable market information
Strategic and operational planning
Review/ amend management structure
Develop policies and procedures
Regular reviews of capacity and operation of all functional and
curriculum areas
Good communication channels with stakeholders
Recruitment policy
Arrange overdraft facilities
Scenario planning
The world
recession and
the domino
effect
3 Target markets with strong growth forecasted
Monitor the economic trends
Regularly review performance in line with anticipated market
conditions
Develop culture of accepting continual change
React quickly to change
Scenario planning
Maintaining effective communication channels with all
stakeholders
Failure to
meet and
manage
client’s
expectations
3 Accurate and timely communication with potential and current
clients
Management of recruitment activities
Continuous improvement system
Regularly review learning and teaching approaches, resources,
structure and systems
Client management policies in academic and support services
Industry liaison
Reviewing effectiveness of communication channels with clients
Employing a continuous improvement approach to all operations
Continuous market research and action
Systematic feedback on management performance and personal
reflection
Ineffective
planning
3 Experienced management team
Continuous market research
Planning system
Organisation structure and systems
Regular review of structure, systems and procedures
External liaison
Maintaining effective communication channels with all
stakeholders
Rate of
growth in
client
numbers
3 Systematic review of systems and practice
Buying in knowledge and skills
Sourcing reliable market information
Strategic and operational planning
Review/ amend management structure
Develop policies and procedures
Regular reviews of capacity and operation of all functional and
curriculum areas
Good communication channels with stakeholders
Recruitment policy

Finance available for expansion
Changes to
Acts and other
relevant
legislation
4 Emphasis on professional, ethical practices with all stakeholders
Staff training
Leading by example
Policy implementation and monitoring
Effective communication channels with all stakeholders
Ability to manage change
Managing available finance for re-investment
Shortage of/
Difficulty in
recruiting
appropriate
qualified and
skilled staff
4 Development of HR policies and procedures
Offer attractive salary package
Provide opportunities for career progression
Develop stimulating and enjoyable working environment
Commitment to training and development
Commitment to professional development
Failure to
control
expenditure
4 Effective financial planning and review
Co-ordination of activities
Systematic review of practice
Financial management and control systems
Facilities management
Implementation of efficient processes
Efficient procurement of products and services
Cost comparisons prior to purchasing
Unethical/
unprofessional
practices of
staff (when
employed)
4 Staff selection processes
Staff monitoring systems
Previous experience of managing staff
Swift reaction to feedback
Termination of agreements
Maintain currency of market recruitment trends
Maintain relationships with HR organisations
Australian
government
changing
policy in
relation to
industry
5 Accepting policy change will be a constant factor to manage
An understanding of this should be instilled in all staff
Develop ability to foresee and react quickly to change
Maintain effective communication channels with stakeholders
Diversification of source markets
Develop range of training and assessment services
Failure to
comply with
legislation
5 Consistently implement compliant policies and procedures
Continuous improvement system
Commitment to training and development
Systematic review of policies and procedures
Regular reviews of all operations
Changes to
Acts and other
relevant
legislation
4 Emphasis on professional, ethical practices with all stakeholders
Staff training
Leading by example
Policy implementation and monitoring
Effective communication channels with all stakeholders
Ability to manage change
Managing available finance for re-investment
Shortage of/
Difficulty in
recruiting
appropriate
qualified and
skilled staff
4 Development of HR policies and procedures
Offer attractive salary package
Provide opportunities for career progression
Develop stimulating and enjoyable working environment
Commitment to training and development
Commitment to professional development
Failure to
control
expenditure
4 Effective financial planning and review
Co-ordination of activities
Systematic review of practice
Financial management and control systems
Facilities management
Implementation of efficient processes
Efficient procurement of products and services
Cost comparisons prior to purchasing
Unethical/
unprofessional
practices of
staff (when
employed)
4 Staff selection processes
Staff monitoring systems
Previous experience of managing staff
Swift reaction to feedback
Termination of agreements
Maintain currency of market recruitment trends
Maintain relationships with HR organisations
Australian
government
changing
policy in
relation to
industry
5 Accepting policy change will be a constant factor to manage
An understanding of this should be instilled in all staff
Develop ability to foresee and react quickly to change
Maintain effective communication channels with stakeholders
Diversification of source markets
Develop range of training and assessment services
Failure to
comply with
legislation
5 Consistently implement compliant policies and procedures
Continuous improvement system
Commitment to training and development
Systematic review of policies and procedures
Regular reviews of all operations
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