BSBMGT617 Develop and Implement a Business Plan - Assignment 2

Assessment Task 2 - Monitor performance

Performance objective

To demonstrate the skills and knowledge required to monitor the performance of a business plan. The Assessment Task is due on the date specified by your assessor.

Assessment description

In this assessment, you will monitor the performance of a business plan, through testing and refining of the performance measurement system, and report on progress of the business plan in a timely and effective manner.

Procedure

1. Review the completed business plan from Assessment Task 1.
2. Document a plan for communicating the business plan to all relevant parties.
   1. Who are the key stakeholders?
   2. What information will each person (position) require?

• What are the relevant timeframes?

1. How will you communicate this information?

3. Write a brief report on performance measurement systems, including:
4. Identify the key performance objectives ( financial and non-financial)
5. Describe the benchmarking used to determine suitable performance measures, (for example: number of complaints, cost reduction, increased number of customers or comparison between similar organization etc..)
6. Acceptable levels of variance to planned objectives/benchmark (where applicable).
7. The timeframe for report – how frequently reports will be completed.
8. Who will be the key stakeholder for report
9. Document how system failures, product failures and variances to the business will be reported, to whom and when

Submissions

You must submit:

• Communication plan as stated in point 2
• brief report on performance measurement system (point 3)

Your assessor will be looking for:

• monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, environmental impact, governance, quality, sales, triple bottom line and the workforce
• consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers