Fraud Deliberate deception to secure unfair or unlawful gain Gantt Chart Type of bar chart that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project OSH Occupational safety and health Inflation A sustained increase in the general level of goods and services in an economy over a period of time infrastructure The basic physical and organisational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise Innovative Featuring new methods; advanced and original. "innovative designs" Intangible resource An that is not physical in nature Inventory A complete list of items such as property, goods in stock, or the contents of a building Milestone A significant event or stage in the life, progress, development of a project Mission Statement A statement of the purpose of a company, organisation or person Monitor An instrument or device used for observing, checking, or keeping a continuous record of a process or quantity KPI Key performance indicator is a business metric used to evaluate factors that are crucial to the success of an organisation Objective A thing aimed at or sought; a goal PERT Program Evaluation and Review Technique Program A planned series of future events, activities, items, or performances' Project 'An individual or collaborative enterprise that is carefully planned and designed to achieve a particular aim' Remedial Giving or intended as a remedy or cure Resources A stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organisation in order to function effectively
Sales budgets – to forecast sales revenue Labour budgets – to forecast labour expenses Material budgets – to forecast purchases of goods for sale or for use in preparing finished products Inventory budget – planning quantities to be held in and the amount of money invested in stock Overhead budgets – concerns other estimated operating expenses (E.g. Rent, rates, etc.) Capital Expenditure budgets – plans for long-term assets to be purchased, replaced, upgraded Budgeted Financial Performance Statement – concerns estimated profit or loss. This brings together several of the above budgets, for sales, material, labour, overheads, inventory Cash budgets – concerns the estimated cash inflow, cash outflow and cash position of a business Budgeted Statement of Financial Position – concerns estimated values of assets, liabilities and owners’ equity at the end of a budget period. Key requirements for budgets When preparing budgets it is important to identify: The time frame or period to which the budget applies The budget line to be included, including what is contained in each budget line items What departments of areas of responsibility individual budget line items will be grouped towards Budget line codes. Estimating project/program revenue In the case of projects that are expected to generate revenue there will be a need to estimate what the sales figures will be for the up-coming period. Reasons to estimate revenue This estimation, which is little more than an ‘educated guess’, serves two important functions: It sets the ‘projected’ figure for income for the period – this may be done on a simple annual basis (that is, it will just identify a dollar figure for the entire year or project), or it may follow a different format and identify sales by (for example) each month or project activity
Manage project implementation As mentioned, now that all the planning for projects and programs has been completed, with initial planning considerations thought through and team members of their responsibilities it is not time to implement the project. The activities associated with managing project implementation may include: Refining project plans Consulting with steering committees and other relevant stakeholders Initiating and operating identified systems, procedures, processes, practices and policies Facilitating operational and implementation understanding regarding the program/project Ensuring the requirements of all relevant plans are implemented as required or amended on the basis of feedback received and issues arising Providing leadership and direction to team members Responding appropriately to established system triggers as operational demands dictate Soliciting input and feedback from team members and relevant stakeholders Resolving disputes and disagreements relating to program/project implementation Negotiating program/project change proposals throughout the life of the initiative consulting and reporting mechanisms. Identify support and resources required to support implementation of new project/program strategies Any time change takes place resulting from the implementation of new projects or programs, whilst in the long term it will benefit the organisation and staff involved, it will cause disruptions and make activities harder for staff in the short term. This is evident not only as the actual change takes place, but as staff try to understand and become familiar with the new way of doing things. It is especially important that during this stressful time, that management play an active role in leading and supporting the team as a whole and individuals who may need assistance. There are many ways a manager can provide assistance and support, however at the end of the day, the aim is to enable staff to be able to learn and implement new changes into the workplace. During this period, you must manage the twin functions of ‘group task’ and ‘group maintenance’. Task functions ‘Task’ functions of leadership involve leading the group successfully understanding and performing new activities associated with change. Factors included here are: