Reference no: EM133070415

BSBOPS601 Develop and implement business plans

Assessment Task - Review Business Performance

Instruction: This task will require you to review performance of business plan implemented in Workplace Project Task 5, by comparing actual performance data with targets in the business plan.

To complete this task, you must:
• Compare actual performance data in the Implementation and Monitoring Report from Workplace Project Task 5 with performance measure targets in the Business Plan from Workplace Project Task 3.
Calculate variances between the performance measure targets and actual performance data.
Variance is the difference between performance measure targets in the business plan and actual performance data when the business plan is implemented.
• Identify root cause(s) for the variances.
Root cause is the main factor that drove the difference in actual performance from the target in the business plan.
• Assess the strengths and weaknesses of the business plan based on the Implementation and Monitoring Report
from Workplace Project Task 5 and variance analysis.
• Review performance measures and refine at least one performance measure.
Reviewing of performance measures includes identifying a few performance measures for reviewing, comparing actual performance data from business plan implementation with the performance measure targets from the business plan and then assessing the suitability for of the performance measures.
Suitability of the performance measures must be assessed on the following criteria: simple, relevant and actionable.
• Design and specify processes for ongoing review of business performance against business plan.
• Prepare a Business Review Report including all the above.
• Communicate the Business Review Report to at least one person in senior management.
The senior management to whom the Business Review Report is reported can be the same as the senior management from Workplace Project Task 5.

Business Review Report Structure

1. Variance analysis
• For at least four performance measures, compare the actual performance data with the performance measure targets in the business plan
• Calculate variances between the performance measure targets and actual performance data

2. Root cause analysis for variances
Select at least two performance measures from the variance analysis in section 1 with the highest variances. Identify one or more root causes for the variances selected.

3. Strengths and weaknesses of the business plan
Based on the Implementation and Monitoring Report from Workplace Project Task 5, variance analysis from section 1 and root cause analysis from section 2, assess the strengths (at least two) and weaknesses (at least two) of the business plan

4. Review of performance measures identified in the variance analysis in section 1, and refining at least one performance measure
Review of performance measures based on the analyses from the above sections. At least one of the performance measures must be refined based on the review

5. Processes for ongoing review of business performance
Outline processes for ongoing review of business performance against business plan

6. Sources of information and documents accessed to prepare the business plan
List the sources of information and documents accessed to prepare the report (e.g. Organisational and workplace policies and procedures)

Attachment:- CAC Assessment.rar