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JUNMING LI VTI8217BSBMGT517 TASK 4TASK 4 - BSBMGT 517 Operation planning monitoring and review projectKing Edward VII Collage monitor and review operational performance1.Prepare a plan for monitoring performance from the start of implementation to theend of the financial year. You may use the action plan template (provided in Appendix2) or create your own plan. Ensure you include plans for monitoring and/ordocumenting:a.budgetary and financial performanceChief Financial Officer is responsible for preparing quarterly financial statementsand overall budgeting. Riz is also responsible for overseeing budgets for costcentres and individual projects.b.productivity performanceMarketing Manager is responsible for the management of all aspects activities ofmarketing.Kim Chen, Operations General Manage is responsible for the day-to-day running ofthe company and responsible for sponsoring projects that affect operations of theorganisation as a whole.c.employee performance in line with performance management policyKing Edward VII Collage have been hired as an external consultant to manageoperational planning activities for King Edward VII Collage e-commerce strategy.Les Goodale, Human Resources (HR) Manager will need to coach an under-performing employee in accordance with the King Edward VII Collage performancemanagement policyd.milestone achievement and performance against targetsThe Sales and Marketing Manager has been tracking progress against thefollowing by key performance indicators (KPIs).e.dates for monitoring activities in line with scenarioIt is now 1 June 2019. e-Commerce operations are expected to be underway by 1October 2019.f.resources for monitoringAll resourcing should have been acquired and operations undertaken in accordance with relevant external standards, such as legislation and codes of practice, and internal standards, such as organizational policies and procedures and performance targets.g.progress reporting at the end of each quarter to the Operations General ManagerFinancial reporting is completed by the CFO at the end of each quarter of thefinancial year. Employee performance is gathered by store managers, sales and
JUNMING LI VTI8217BSBMGT517 TASK 4marketing managers (online staff) and compiled by the HR Manager at the end ofeach quarter.h.regular performance management of online staff and lodgement of records withthe HR Manager.Performance management is a process by which HR managers and employees worktogether to plan, monitor and review an employee’s work objectives and overallcontribution to the organization. More than just an annual performance review,performance management is the continuous process of setting objectives, assessingprogress and providing on-going coaching and feedback to ensure that employees aremeeting their objectives and career goals.