Analyse financial trends, and interpret them
Express your strategic opportunities in term of tactical and operational objectives
Convert these opportunities into special projects or work programs
Analyse financial trends, and interpret them in context of your objectives
Clearly outline your financial planning objectives, process timeframes and resources.
Consult with all relevant persons / groups when developing your proposals
Consider past experiences, present trends and future expectations
Show how your proposal is linked to your organisational strategic objectives
Incorporate a realistic cost benefit and risk analyses / management plan into all proposals
Detail your organisational investment target rates for capital expenditure proposals
Identify performance measures and tactics for monitoring and control processes for each proposal / action
Describe how your proposals comply with your organisations values, policies, code of conduct, and legal / ethical obligations
Submit your proposal within the time-frame set by your assessor
Provide supporting evidence (cost/benefit analyses, risk management plans, market research results, net present values, interest rate of return, pay pack calculations, etc)
The trainer/assessor must discuss the proposed business opportunity with the candidate prior to commencing with this assessment.
PART B Next, you are to develop the budgets and plans for your proposals developed in PART A. Throughout this process, you assessor will act as your supervisor for all negotiations required. In developing the budgets and plans proposed, you are to include details on how:
Negotiation was undertaken with relevant groups and individuals in ways to build commitment to the plans
You identified and agreed on the links to the achievement of organisation strategies
Your negotiated with your supervisor (your assessor) to obtain a clear agreement of the matters to be incorporated into the budgets and plans
Your budgets and plans should:
Show all outcomes confirmed in terms of clear, concise objectives and timeframes
Incorporate the outcomes of your negotiations and meet your organisations approval process
Provide written confirmation of all delegations, accountabilities and responsibilities
Be clearly documented and include a communication plan Throughout this project you need to communicate clearly with your trainer/assessor. You are to demonstrate professionalism with all communications, as you will be representing your company and position. Trainer/assessor will role-play the position of supervisor, and all parties required for negotiation in order to demonstrate competency in this unit.
BSBFIM601 Manage Finances – Assessment 1 Last Updated: October 2016, V. No. 1.1
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PART C Now you are to take your completed PART A and PART B and arrange an appointment with your assessor, who will role-play a finance specialist. In this meeting, you are to
Manage the meeting direction and progress
Discuss with the finance specialist the aspects of your budgets / financial plans (the package)
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