Task 2

Assessment Instructions

This is an individual assessment. Read the questions carefully in Parts A and B and you must answer all of the questions below, and include examples where appropriate. If you need help understanding any questions, ask your assessor to explain.

Part A- Analyse a business plan

Instruction for the student

This is an individual assessment. Review two completed business plans. Analyse the strengths and weaknesses of each business plan, and prepare two written reports of your findings.

Procedure

• Read the business plan 'Quality Training' (see Appendix 1).Compare and contrast the business plan against the criteria for effective business plans, as described in your workbook or other reference materials.
• Compare the strengths and weaknesses of the business plan.
• Complete a written report, detailing a critical analysis of the strengths and weaknesses of the business plan.

To be deemed competent you will need to successfully demonstrate the following:

1. Submit a completed report, analysing the strengths and weaknesses of business plans.
2. A report should be properly formatted and logically structured.
3. Identify relevant strengths and weaknesses of the plan, including discussion on the following areas:
   1. Compare and contrast with textbook structure and layout.
   2. Comment on the quality and relevance of information.
   3. Comment on the quality of information, i.e. did the business plan demonstrate adequate research on competitive market conditions?
   4. Comment on the quantity of information - was there sufficient information to determine the likely success of the business by its performance measures?
   5. Were the performance measures specific and realistic?
   6. Was the document well set out, easily understood and pitched at an appropriate level for the reader? Part B-Monitor performance

Monitor the performance of a business plan, through testing and refining of the performance measurement system, and report on the progress of the business plan in a timely and effective manner.

Procedure

Review the completed business plan from Part A.

Identify the key performance objectives.

For each key performance objective:

Produce a report to capture and test the performance measure.

Write a brief report on how you would test the performance measurement systems, including:

Acceptable levels of variance to planned objectives (where applicable).

The timeframe for each report - how frequently reports will be completed.

What benchmarking will be used?

Who will be the key stakeholder for each report?

To be deemed competent you will need to demonstrate the following successfully:

1. Submit a report on capturing performance data for each performance measure.
2. Submit a written report explaining how the performance measurement system will be implemented and tested, how system/product failures and variances to the business will be reported, to whom and when.
3. Performance measurement system:
   1. one report for each performance measure
   2. covers financial and non-financial performance measures
   3. the information should be pitched at the appropriate level for the recipient
   4. should be presented in a readable and logical format
   5. should include graphs, charts or other methods of presenting data.
4. Report:
   1. timeframes should allow appropriate action to be taken (where necessary)
   2. identify key stakeholders who will require the information
   3. describe the benchmarking used to determine suitable performance measures, including tolerance levels and variances to plan
   4. document how system failures, product failures and variances to the business will be reported, to whom and when.