Feedback to improve your budget template and bsc

Assignment Help Other Subject
Reference no: EM131066122

Activity: Cost, Budget and Performance

When managing a project, you will constantly need to evaluate cost, budget and performance. This is important in order to be aware of how much the project has already cost the organisation, and how close you are to meeting or exceeding your budget. You will also need to evaluate whether the project and the project team are meeting their expectations. A budget template can help you effectively monitor your project's cost and budget. A budget template is often completed using a spreadsheet such as Microsoft Excel, and helps you organise the finances of your project by monitoring employee compensation, legal fees, professional fees, travel expenses, marketing expenses, office expenses and overhead costs. Using a budget template will help you keep your budget under control and provide financial information to your supervisor or other senior leaders at the organisation.

In your Resources for this unit, you will explore various ways to measure elements of a project. A technique you will explore is the Balanced Scorecard (BSC). The BSC helps measure organisational performance in relation to the organisation's strategic goals, incorporating financial measures as well as business processes. The BSC aims to find balance between internal and external measures; objective measures and subjective measures; and performance results and the drivers of future results. In the media for this unit, you can view a graphic of what a BSC entails. All of these tools and techniques can help a project manager effectively monitor and control projects, resulting in increased potential of project success.

To complete this Shared Activity:

- Review your scenario.

- Develop a budget template for the project in your scenario.

- Develop a BSC which includes your suggested KPIs in the four BSC categories for the project in your scenario.

- Submit to your group for feedback. In this unit's Individual Assignment, you will incorporate your group's feedback.

- Respond to your colleagues' budget templates and BSCs by expanding on, questioning or offering further support for their ideas.

Assignment: Balanced Scorecard and Budget Template

In your Shared Activity, you submitted your budget template and BSC to your group for feedback. For this Individual Assignment, you will work to improve your budget template and BSC.

To complete this Individual Assignment:

- Review the feedback your group provided on your budget template and BSC from the Shared Activity.

- Incorporate the feedback to improve your budget template and BSC.

Reference no: EM131066122

Questions Cloud

What is each of their roles in combating terrorism : After the events of September 11, 2001, the Department of Homeland Security (DHS) was formed. This put an additional 180,000 employees to work at combating terrorism throughout the four major organizations or federal agencies that comprise the DHS..
Relevance of a web browser in the internet : Differentiate between server side, client side programming and the relevance of a web browser in the internet.
Interface interaction style for a particular task : Demonstrate the ability to select an appropriate user interface interaction style for a particular task. Explain the different usability data-gathering techniques Create a product evaluation through a formal framework.
What can you say about the firm financial condition : Warner Company Income Statement - What can you say about the firm's financial condition based on these financial statements?" Using the CSU Online Library find one article that discuses financial statements, cash flow, or ratio analysis
Feedback to improve your budget template and bsc : Develop a budget template for the project in your scenario and develop a BSC which includes your suggested KPIs in the four BSC categories for the project in your scenario.
Define reasons for the increase in white-collar crime : Select one white-collar-crime area that is expected to increase over the next several years and prepare a summary noting the background and reasons for the increase in white-collar crime. Use at least one professional or academic-quality source, i..
Determine the probability that the person is infected : determine the probability that the person is infected.
Dynamic programming technique : Please briefly introduce the dynamic programming technique. What do you think about its efficiency? What are the hallmarks where dynamic programming could be applied?
What is an expert witness : Forensic scientists do much more than process, analyze and compare evidence. The scientist must be qualified as an expert witness. This assignment will give you an opportunity to explore the question, "What is an expert witness?"

Reviews

Write a Review

 

Other Subject Questions & Answers

  Manova is the method of analysis

MANOVA is the method of analysis that - Uses several independent variables to predict the category to which a participant belongs, Describes the relationship between a predictor and an outcome variable, Describes the effect of an independent variable..

  How were earthquake intensities measured

How were earthquake intensities measured before the advent of the Richter Scale? What were the problems with that scale and how is the Richter scale far superior?

  Some of conditions of our general environment

What are some of the conditions of our general environment that affect how an organization operates and their level of success? How are these conditions affecting organizations both short term and long term?

  Why are women more religious than men

Research paper of the course Gender and Religion Based on the Article "Physiology and Faith: Addressing the universal Gender difference in Religion" Year (2002) or the first chapter of the book "why are women more religious than men?

  Explaining the insanity defense

How often is the insanity defense used and how successful is it?

  Describing a stakeholder orientation

Describing a stakeholder orientation

  Motivation in trying to sell the new world

How does Christopher Columbus enhance the potential of the New World in his letter? What do you think was his motivation in trying to “sell” the New World?

  Oral promises between unmarried cohabitants to be valid

On what occasion would the court's early decision preclude the enforcement of any agreement between unmarried parties? What was required in more recent decisions for oral promises between unmarried cohabitants to be valid?

  Shortage of resilience research on canadian

shortage of resilience research on canadian aboriginalsalthough there is a relatively large body of research on

  What are ms. esposito''s real and potential health risks

What additional information and/or questions would you like to gather from Ms. Esposito. What are Ms. Esposito's real and potential health risks

  How a nurse could implement these three nursing philosophies

Complete a KWHL chart (see p.5 of this document for the legend and specific instructions) specifically for Mr Taylor -Provide quality definitions for each of the following three nursing philosophies of care approach

  Concepts of african americans being a majority ethnic group

What are some concepts of the African Americans being a majority ethnic group?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd