Information from the chief finance officer cfo a

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Information from the Chief Finance Officer (CFO) A discussion with the CFO has provided you with the following information: The CFO has been tracking progress against the following key performance indicators (KPIs): 1. Budget success is measured in % overrun/underspend. The target is 0% overrun. Currently there is a budget overrun of 10%. Cost overruns are due to: wastage from order mistakes and over-stocking due to misuse of system overtime due to overly long customer interactions. BSBMGT517 Assessment 3 Version: v17.0 Page 17 of 30 Developed by: Nortwest Pty Ltd Approved by: AM Issued: August 2017 Review: August 2018
2. The timeline for the e-commerce project is to have the e-commerce activities implemented by 1 October 2014. Currently the implementation is on track. In addition to these key performance indicators, we have identified a number of risks that all need immediate action: The training program has not been adequate to cover required skills and knowledge. Training has been too short and insufficient to be effective. Staff are unable to perform roles due to lack of support in job roles and ongoing training, coaching. Website downtime contributes to increased service and sales disruptions. Sales continue to perform under target. On that last risk, I think sales may need to be more closely monitored. Customer needs and changing market conditions/competition may need to be reassessed and addressed. BSBMGT517 Assessment 3 Version: v17.0 Page 18 of 30 Developed by: Nortwest Pty Ltd Approved by: AM Issued: August 2017 Review: August 2018
Appendix 2: Action Plan Template Milestone: Action and/or objective (to achieve strategic aims of physical or human resourcing) Date Person responsible Budget or resources (where applicable) Budgetary and financial performance prepare a budget (recurrent operating or project based funds) monitor receipts and payments negotiate and restructure budgets implement and monitor a budget 30/05/2014 Chief Financial Officer Financial resources Productivity performance Track non-financial measures like speed of response and product quality Focus on external measures like customer 30 January 2014 HR Manager Material resources (survey) BSBMGT517 Assessment 3 Version: v17.0 Page 19 of 30 Developed by: Nortwest Pty Ltd Approved by: AM Issued: August 2017 Review: August 2018
satisfaction and product preference Forward looking measures like employee satisfaction, retention, and succession planning Employee performance in line with performance management policy Ask employees to use self-monitoring tools to assess performance (project plans, checklist, activity logs) Conduct performance appraisal on a regular basis to review work in progress 30 January 2014 HR Manager Material resources (appraisal) Milestone achievement and performance against targets Set up KPIs Set up monitoring and measurement system like meeting notes, financial reports, or by surveys, 30 January 2014 All team Managers Materials BSBMGT517 Assessment 3 Version: v17.0 Page 20 of 30 Developed by: Nortwest Pty Ltd Approved by: AM Issued: August 2017 Review: August 2018
interviews etc.

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