1.Why is setting KPIs an effective method of monitoring an operational plan? Give two reasons

2.Your operational plan requires recruitment of five casual employees. What legislation impacts your plan?

3.What is a patent and how does it relate to intellectual property laws?

4.How can a flowchart assist your planning and organisation when developing an operational plan?

5.There are a range of factors that affect how physical resources are procured. What is the strongest influence in your workplace or training environment?

6.Most organisations have policies and procedures which control how resources are obtained; these are usually their purchasing policies and procedures. They may also have templates for key documentation such as specifications, selection criteria, purchase orders and requisitions. Record two examples of policy or procedural information your likely to find in each of the categories.

7.Who approves purchase decisions in your workplace or training environment?What organisational policies or procedures outline approval processes?

8.Outline the features and budgeting processes for a cash flow budget.

9.Briefly describe how budgets are used in operational plans.

10.An establishment currently budgets $2,500 each month for printing and stationery. You want to increase this amount by 3%. How much will you allocate in the new budget?

11.An operational plan details what youwantto happen. However, things don't always go to plan. List five examples of information you might include in a contingency plan to ensure you achieve the organisation's objectives.

12.Part of the budgeting process involves monitoring results and identifying variances.

How are budget variances reported in your workplace or training environment?

In what situations is it favourable to be above budget?

What should you do when you identify an area of underperformance?