Cost-Effectiveness Case Study - Advanced Resource Management - The Process For Resource Planning - Management Assignment Help

Assignment Task

Question 1: Cost-effectiveness
Discuss different methods for acquiring resources in a cost-effective manner such as the bulk purchases, discounts, prompt payment policy. Identify which method is appropriate for your business/project that you have mentioned in assessment 1.

Question 2: The process for resource planning.
Discuss the whole process for resource planning. (Consultation, budgets, timelines, risk management, strategies, contingency plans).

Question 3: What model you will use to evaluate and measure the resultant resource planning. You will need to include tolerances that will trigger the implementation of strategies for dealing with expenditure over budget. Discuss the model you will use to evaluate and measure the resultant resource planning (Increase sales/profit, increase customer satisfaction, decrease wastage). Identify any acceptable deviations that will trigger the implementation of strategies for dealing with expenditure over budget (if sales is increased, may need more people or more resources which lead to over budget).

Question 4: A process for comparing the forecasted budget to actual resource costs according to organisational requirements, including strategies for dealing with expenditure over budget. Create a table and compare the budget and actual cost (hypothetical) for all the resources you have identified in assessment 1. Then write the
strategies for dealing with expenditure over budget (regular review, finding alternative supplier, maintaining record/track of resource usage).

Question 5: The result of the measurement be it unfavourable or favourable will need to be predetermined in your set of parameters for the model chosen. You need to prepare reports that clearly indicate the level of performance achieved (favourable or unfavourable) and any action taken to adjust or rectify procedures to meet organisational objectives.

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