SCSB -BSBINM501 PPTs (Aspire's).pptx

Financial monitoring tools may include o balance

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Financial monitoring tools may include: o balance sheets o profit and loss accounts o budgets o projection sheets o petty cash journals o ledgers o final statements o bank statements.
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Production tools may include: o Inventory control o Gantt charts o PERT charts o Materials resources planning o Dispatch functions o Just-in-time schedules o Quality controls
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Informal monitoring may include: o ‘management by walking around’ o diaries o ‘to-do’ lists.
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A Gantt chart is a type of bar graph used to represent task progress and scheduling in an easy to view format.
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An effective monitoring system provides information that is: o accurate o timely o cost effective o easily understood o useful.
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Effective monitoring systems provide managers with information to: o identify implementation issues o develop appropriate resolutions.
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Wilhelm Hasselbring (2000) identified three information levels that help distinguish information and content: o The business level: the organisational structure and the rate of progress of work done by a business, department, or for business rules and processes. o The application level: the actual implementation of the business ideas in terms of project applications. o The technology level: defines the information and communication infrastructure.
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The layers of information may need to be integrated to operate more effectively. There are three issues to address when integrating information: o Autonomy: the independence of different systems which may create inefficiencies. o Heterogeneity: the diversity of different systems being used within a single knowledge system. o Distribution: different systems may have different locations as a result of using legacy systems.
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Typical solutions to these issues include: o Proxy services: a software layer designed to access heterogeneous components of a complex knowledge system. o Remote procedure calls (RPCs): where a user sends a message to a remote server to perform a particular procedure. o Marshalling and un-marshalling: where data values are converted from their original format into one which is more accessible to users.
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A key function of a KMS is to provide performance information. This involves following these ten steps: o Set up a system for collecting and reporting information o Write clear descriptions of the type of information to be used o Agree on the method for establishing current performance o List resources required to support the plan o Agree on information formats and classifications o Identify possible sources of benchmark data o Set up a reporting schedule o Establish positions and responsibilities o Stipulate reporting needs o Collaborate with process stakeholders to ensure understanding and dissemination of the process
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Common performance measures include: o Key performance indicators: direct measures of individual tasks performed by people within the organisation.
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