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Learner R BSBOP Manage business opera Learner Resource 2 BSBOPS502 – Manage business operational plansLearner Resource Produced 28 August 2020 © Precision Group (Australia) Precision Group (Australia) Level 13, 269 Wickham St, Fortitude Valley 4006 Email:
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Information in this course material is current at the time of publication. http://www.precisiongroup.com.au/ http://www.ombudsman.gov.au/ http://www.copyright.com.au Learner Resource BSBOPS502 – Manage business operational plans Learner Resource Produced 28 August 2020 © Precision Group (Australia) 3 Version Control & Document History Date Summary of modifications Version 28 August 2020 Version 1 final produced following assessment validation. 1.0 Learner Resource 4 BSBOPS502 – Manage business operational plansLearner Resource Produced 28 August 2020 © Precision Group (Australia) Table of Contents ABOUT THE BUSINESS SERVICES TRAINING PACKAGE 6 ABOUT THIS UNIT OF COMPETENCY 8 CHAPTER 1: ESTABLISH OPERATIONAL PLAN 9 1.1 Research, Analyse and Document Resource Requirements 10 1.2 Develop Operational Plan in Consultation with, and with Approval from, Relevant Stakeholders 16 1.3 Develop Contingencies for Operational Plan 28 Activity 1 36 Key Points: Chapter 1 38 Chapter 1 – ‘True’ or ‘False’ Quiz 39 CHAPTER 2: MANAGE RESOURCE ACQUISITION 40 2.1 Confirm that Employees are Recruited and Inducted According to the Organisation’s Human Resources Management Policies, Practices and Procedures 41 2.2 Confirm that Physical Resources and Services are Acquired According to the Organisation’s Policies, Practices and Procedures 47 2.3 Identify and Incorporate Requirements for Intellectual Property Rights and Responsibilities in Related to Acquisition of Resources 55 Activity 2 59 Key Points: Chapter 2 61 Chapter 2 – ‘True’ or ‘False’ Quiz 62 Learner Resource BSBOPS502 – Manage business operational plans Learner Resource Produced 28 August 2020 © Precision Group (Australia) 5 CHAPTER 3: MONITOR AND REVIEW OPERATIONAL PERFORMANCE 63 3.1 Assess Progress of Operational Plan in Achieving Profit and Productivity Plans and Targets 64 3.2 Identify Areas of Under-Performance, Recommend Solutions and Take Prompt Action and Rectify the Situation 71 3.3 Plan and Implement Relevant Processes for Ongoing Monitoring and Confirm that Support is Provided for Individuals and Teams 78 3.4 Negotiate Recommendations for Variations to Operational Plans and Gain Approval from Designated Persons 81 Activity 3 82 Key Points: Chapter 3 84 Chapter 3 – ‘True’ or ‘False’ Quiz 85 SUMMARY 86 REFERENCES 87 Learner Resource 6 BSBOPS502 – Manage business operational plansLearner Resource Produced 28 August 2020 © Precision Group (Australia) About the Business Services Training Package The BSB Business Services Training Package covers a diverse range of industries and occupations. Business Services covers a range of cross-industry functions and services supporting the commercial activities of all industries. Defining Qualifications When units of competency are grouped into combinations that meet workplace roles, they are called qualifications. These qualifications are aligned to the Australian Qualifications Framework (AQF). Each qualification will have ‘packaging rules’ which establish the number of core units, number and source of elective units and overall requirements for delivering the qualification. Delivery and Assessment of Qualifications RTOs must have the qualifications (or specific units of competency) on their scope to deliver nationally recognised training and assessment. RTOs are governed by and must comply with the requirements established by applicable national frameworks and standards. RTOs must ensure that training and assessment complies with the relevant standards. Learner Resource BSBOPS502 – Manage business operational plans Learner Resource Produced 28 August 2020 © Precision Group (Australia) 7 Qualification Training Pathways A pathway is the route or course of action taken to get to a destination. A training pathway is the learning required to attain the competencies to achieve career goals. Everyone has different needs and goals, and therefore requires a personalised and individual training pathway. Foundation Skills Foundation Skills are the non-technical skills that support the individual’s participation in the workplace, in the community and in education and training. Australian Core Skills Framework (ACSF) This Assessment meets the five ACSF core skills as described in the Foundation Skills mapping. Learner Resource 8 BSBOPS502 – Manage business operational plansLearner Resource Produced 28 August 2020 © Precision Group (Australia) About this Unit of Competency BSBOPS502 - Manage business operational plans This unit standard BSBOPS502 Manage Business Operational Plan covers the skills and knowledge required to develop and monitor the implementation of a business operational plan. Success in doing so would help foster efficient and effective workplace practices resulting from properly managed operational plans. This unit applies to those who manage the work of others and operate within the parameters of a broader strategic and/or business plan. This Learner Resource is broken up into three elements. These include: 1. Establish operational plan 2. Manage resource acquisition 3. Monitor and review operational performance At the end of this training, you will be asked to complete an assessment pack for this unit of competency. You will need to access a supervisor, a manager, or your assessor who can observe you perform project or workplace tasks and verify your competency or performance. On competent completion of the assessment, you must have demonstrated skills and knowledge required to manage business operational plans. Learner Resource BSBOPS502 – Manage business operational plans Learner Resource Produced 28 August 2020 © Precision Group (Australia) 9 Chapter 1: Establish Operational Plan The key to a successfully executed task is a properly established plan. Thus, the first element in managing your business operational plan is establishing this plan. Doing so would involve multiple steps as well as various people. Moreover, the development of your plan requires the consideration of several factors to ensure that your plan is as well-made as it can be. This chapter delves into the details of this process, further dividing it into four sub-chapters that serve as the steps of this stage. First, you must research, analyse and document your resource requirements. After this, you will develop your operational plan. This will be done by consulting with and seeking approval from your relevant stakeholders. Once you have accomplished these tasks, you will then develop contingencies for your operational plan. Finally, you will need to explain the plan you develop to the relevant work teams. Learner Resource 10 BSBOPS502 – Manage business operational plansLearner Resource Produced 28 August 2020 © Precision Group (Australia) 1.1 Research, Analyse and Document Resource Requirements An Operational Plan (OP) is a detailed plan that provides a clear picture of how a team would contribute to the achievement of the organisation’s strategic goals. Before you look into the process of establishing this plan, you must first look into the different resource requirements involved in its creation and differentiate it from other types of plans. 1.1.1 Business Planning Business planning attempts to bring a new idea to fruition within an organisation. Such a plan needs to be divided up into sections which would allow the business managers to understand what you are trying to accomplish and the direction that you will take to get there. You will find an example on the simulated business Bounce Fitness website under the Documents tab. Two plans involved in business planning are the strategic plan and the operational plan. A strategic plan is responsible for setting the direction of an organisation. Through this plan, goals and objectives are devised, and the strategies in achieving these are identified. Likewise, this plan takes into account the goals and priorities of the stakeholders. By its very nature, this plan does not cover the day-to-day tasks and activities involved in running the organisation but merely serves as a general guide for management. The objectives presented in the strategic plan – strategic objectives – are essentially the long- term organisational goals which help transform the organisation's mission statement from a broad vision to specific and feasible plans and projects. Strategic objectives set benchmarks for success. They are designed to be measurable and realistic manifestations of the organisation's mission statement. Usually, strategic objectives are developed as part of an organisation's two- to four-year plan. These objectives also guide management in decision- making. On the other hand, an operational plan presents highly detailed information that directs employees in performing the day-to-day tasks and activities necessary in running the organisation. It presents information that both the management and staff can and should frequently refer to as they carry out their daily work. There are four key pieces of information that can be found in your operational plan. These are: What the strategies and/or tasks that must be undertaken Who the people responsible for each strategy and/or task When the timelines during which the strategies and/or tasks must be completed How much the financial resources to be allocated for the completion of each strategy and/or task https://bouncefitness.precisiongroup.com.au/ Learner Resource BSBOPS502 – Manage business operational plans Learner Resource Produced 28 August 2020 © Precision Group (Australia) 11 Like strategic objectives, operational objectives set benchmarks for success. However, operational objects do so on a daily, weekly, or monthly basis. Operational objectives, which are also referred to as tactical objectives, are