Reference no: EM132263836

Create an Operational Plan

An Operational plan is the strategic or pragmatic part of a business plan. It specifically details how to go about accomplishing the goals of a strategic business plan.

Candidates should complete either Scenario A or B:

Scenario A: Get approval from your trainer to use a scenario of your own choice. It could be the company or business you are currently working for or a business that you are in the process of establishing.

Scenario B: You have convinced ten (10) investors, friends and family, to invest $5,000 each into a business that you want to start-up. But before they hand over the money they want to see that you have an operational plan in place that is sound and that shows that you are taking it serious. They want to be convinced that you will succeed and that you have planned this business venture property and taken everything into consideration. They want to see HOW you will spend their money and a GNATT chart of when each step of the process will be implemented. They want to see realistic KPI's and a contingency plan. They want to see enthusiasm and professionalism in the report.

You are opening up a small restaurant located at unit 3, 118 Mawson PI, Mawson in Canberra. The name of the Malaysian Restaurant will be:

Spices of Melacca.

It will cost $440 to open a company if you do it yourself (and that will copyright the name Australia wide). Applications can be found on ASIC website. You need to hire staff and develop a menu. The rent is 5800 per week with a bond of three months and you must pay one month's rent in advance. The lease-contract is for a two years minimum stay with option for extension to be negotiated. You need an ABN, food license and need to decide if you should get a liquor license or have BYO instead. You need all the right insurances; you will need other items like an outside sign and other advertisements as well as fire extingu.er, drapes etc. The location has a functioning kitchen because it used to be a restaurant before but the rest is all empty so you need to buy all chairs, tables and dishes.

You need to decide what staff and how much you will pay them, you might need a Chef/Cook Kitchen-hand workers and one or two Waitress/Waiter. You need to develop appropriate CPI's: how many customers you need to survive and how you will get them, what type of advertising you will use.

You need to decide the order of action that you will take: room design, purchase of goods, employees recruitment, advertisement, recipe developing and testing, at what pant will you start advertising and at what point will you open the restaurant. You need to do contingency planning. You know what to do in case you run out of money, or in case you don't get the required number of customers. You need to decide on opening-hours and staff shifts.

The Operational Plan

To get a satisfactory grade (S) - your Report MUST be a professionally formatted single document. It MUST to be a professionally formatted ‘Report' that could be used: It MUST contain a TITLE and have NORMAL size and style font, have page numbers and must NOT contain blank pages! References are not required but the words have to be yours, DO NOT PLAGIARIZE, don't just copy and paste words from the internet It MUST also contain ALL of the following headings (each heading should have as a minimum one paragraph of 125-200 words):
(The document MUST have title, which comes before the Start of the paragraphs)

Introduction - Explain the purpose and objective of the Plan.

Resources - List what physical resources (e.g., types of office desks. photocopiers, computer hardware) you require and what human resources (e. g. internal employees and external contractors or service providers) you require. Explain who you need to consult about physical resource requirements needed for your operational plan? Why should they be consorted and what method(s) could you use to consult with them?

Identify who you need to consult about human resource requirements? And outline how or where they can be acquired? Make a list of people who can suggest resources.

Key Performance Indicators - Establish performance indicators. Performance indicators allow you to monitor performance, Progress towards goals and outcomes from the operational plan. Develop milestones, objectives or key perform indicators (KPIs) for each of the activities in the plan. They must be written using the SMART technique. Determine what data Wore will be used to measure the KPIs and how they will be monitor.

Monitoring processes - Develop timelines and priorities tasks. Develop a flow chart or Gantt chart which indicates all activities in the operational plan. Clearly identify the critical path.

Contingency plan - Identify at least two potential risks which could impair or disrupt the implementation or completion of the operational plan. Provide details of the potential risks and their priority levels.

Recruiting, inducting and mentor/coach personnel - Outline the strategies you (as project manager) will use to ensure the human resources department recruits the most suitable applicant for the position. What strategies can you use to ensure the new employee is inducted according to organisational policies and procedures and is made to feel welcome in their workplace?

Explain how you will implement systems to ensure that mentoring and coaching are provided to support individuals and teams.

Intellectual property - Recognise and incorporate requirements for intellectual property rights and responsibilities in recruitment and acquisition of resources and services. Based on the operational plan, goals and activities, the type of resources to be acquired, and the methods of acquisition, list at least one aspect of the operational plan that could be affected by intellectual property legal requirements, rights and responsibilities. And list what steps you can take to protect their intellectual property rights and ownership of the invention?
Approvals - Describe what approvals are needed and what parties they should be sought from.

HINT: You may use the template which is in the ‘Learning Resources' folder.

The Assessment
Team-work or group-work is NOT permitted for this assessment (this is to ensure authenticity of the work, that the learners has actually done it themselves and not relied on others). Plagiarism is NOT permitted and will NOT be tolerated. Plagiarism will result in a NYS (Not Yet Satisfactory) mark and a written warning (see student handbook which is available on the Home Page for further details).

If you are unsure of the requirements of a question, activity or project - please contact your trainer for clarification. Reasonable adjustment options are available however this must be arranged with your trainer prior to assessment. If you have existing relevant work experience or completed existing previous studies that show competency in this unit, you may apply for recognition of prior learning (RPL). If you wish to apply for RP, upload supporting documents and evidence to the evidence of prior learning folder and then notify your trainer/assessor.

The assessment project must be professionally formatted. If you are not certain of that meaning, you may access the self-paced lessons about document formatting which are in the "Supplementary Section" at the end of the course page.

Evidence Criteria
This exercise is about you demonstrating that you are able to; research, analyse and document resource requirements and develop an operational plan: use key performance indicators to measure organisational performance; ensure that employees are recruited and/or inducted within the organisation's human resources management policies, practices and procedures; Recognise and incorporate requirements for intellectual property rights and responsibilities in recruitment and acquisition of resources and services.

Observation Checklist
In order to satisfactorily (S) pass this, assessment, an assessor will check to ensure that ALL of the following points form part of your written report presentation. As such, in the report you MUST: in your own words:
• Clearly define the purpose and objective of this specific operational plan. Explain what it is you are aiming to accomplish and how you aim to ensure it is successful.
• Clearly list both physical and human resources that are needed and how you have derived at the answer
• Include key performance indicators that allow you to monitor performance
• Include key performance indicators that allow you to monitor progress towards goals and outcomes
• Develop clear milestones or objectives for each activity in the plan
• Include a professionally written/formatted flow chart or Gantt chart which indicates all activities in the operational plan and clearly identifies the critical path.
• Include a reasonable contingency plan
• Include a strategy to recruiting, inducting and mentor/coach personnel
• Recognise and incorporate requirements for protecting intellectual property rights
• Describe if and what approvals might be needed and what parties they should be sought from
• And you must produce a professional document and incorporate appropriate vocabulary and grammatical structure (e.g. the document MUST have a title, paragraphs must have the same style throughout and normal size font, it must not have blank pages, it must be in portrait orientation, it must have page numbers, it must not have blank carriage returns, it must have normal margins, it must be in A4 and it must look good)