Key Performance Indicators - Coursework Example

Name Tutor Course Date Development of an operational plan Development of an operational plan Step 1 and 2: Research “Job Description. Job duties & responsibilities Consultation with whom Required Resources Responsible for development and monitoring of the campus fiscal budget to make sure that the institution moves on attaining its set objectives and mission as well as attaining the corporate objective. The responsibilities will be based basically on financial operations Campus Directors, and Finance department Professionals in financial sectors and tools to facilitate the tasks. In addition, vast experience in budgeting, accounting, finance and higher education credentials. Identification of business development opportunities by assuming the role of an ambassador through the engagement of external partners and networks. Consulting with the to the Facilities management directors Enough financial allocation for promotion and adverts, Vast experience in Public relations. Corporate social responsibility to ensure that the institution receives back up from the surrounding communities Responsible for offering strategic leadership for the business activities relating to Conferencing, sporting facilities student accommodation, teams formation, motivation, and management Accommodation and commercial services head, department of facilities management Application of technical knowledge and skills, interpersonal, leadership and conceptual skills. Coordinating the campus security processes. This involves spearheading safety inspections, set up staff safety training and encouraging safe practices. Taking reports on the incidents being reported on a daily basis and producing annually reports on these security incidents Safety and security committee and department of safety and security. Budgetary allocation for staff training on security issues, Knowledge and experience in security and safety management Supervision of the employees within the campus by developing job descriptions and evaluation of employees on the basis of these requirements. The introduction of performance contract to measures employees' performance with the aim of keeping them focused on the set campus goals. The human resource managers and the department as a whole Finance and Human Resources, Information technology application for accountability and stewardship Directing teams to ensure they remain enthusiastic, positive and maintaining motivation and staff rapport in an effective way. This will also involve team development and harmony to enhance their cohesion towards delivering the desired goals. The human resource management section Financial rewards through salary increment, bonuses and for employees training Step 3: Job responsibilities information and Key Performance Indicators (KPI). Job duties KPI Monitoring Student’s revenue, Course enrolments, and cohort mix: These performance indicators are based on watching, observing the campus fiscal budget preparation process to ensure that it is in line with a specific purpose. The specific purpose, in this case, is to meet the campus objective and be in alignment with its mission. Monitoring these performance indicators will assist in weighing the level of service delivery to its customers and in this case students. Accountable Financial reports, and statements, cash flow management cash balances, staff costs and proportion and retained surplus scales: This involves how well the financial and other reports on the campus progress are presented. In other words, how well are the reports presented and furnished in an explanatory analysis. Accountability of the campus management when it comes to financial operations is crucial to block all money embezzlement moves that might lead the campus into financial constraints. Coordinating (Leadership activates and conducts) The number of security is reported incidents category wise and overall incidents: This is all about the regulation adjustment and combination of other players to make sure there is harmony in the campus or workplace in order to a chive a common goal. In this case, the performance indicators will be based on the achievement of campus security measured in terms of how well the security issues within the campus are spearhead and dealt with for the good pf the students and the staff in general. Students security and that of the staff in and out the campus is a paramount issue and determines its performance and development Supervising Performance contracts, staff engagement and well-being, involvement in performance appraisal and development: The performance indicators are based on aspects of verification, securing and securing the policy compliance (Chan. et al., 203-221). The key idea, in this case, is all about supervision to make sure that the set job descriptions for the campus staff and their evaluation is done well in compliance with the campus policies. In other words, ensuring that job descriptions are outlined clearly to avoid conflicts of duty. Directing Compliance with the set policies: The level of guidance relating to work operations by the establishment of objectives, policies, rules and practices. The managers’ approach towards motivating and directing teams towards the set goals and objectives applies a lot in this case. The performance indicators are based on how organized is the institution towards growth through the attainment and following the right projected track. Assuming Staff survey outcomes, equal pay audits, and corporate social responsibility reports: The performance indicators are based on how well the issues is concerning public relations and the creation of a good campus image undertaken upon by the campus managers themselves. Institutions image is a crucial aspect that plays a key role in its growth, performance indicators based on the relationship between the institution, competitors, and community at large are crucial to the management team. Step 4: KPI that links to the organizational operation. Prioritisation KPI Resources required implementing KPI Role responsible for monitoring 1 Financial metrics (profit, cost, expenses vs. the set budget) Experts and necessary tools to enable them in the analysis of the gross and net profit margin in order to be able to better understand the institutions successful in terms of high return generation. These resources will also assist in measuring the cost effectiveness and come up with ways to ensure that the institution remains effective. The analysis must be done on the campus external opportunities, operation trends, and resources within the institution as well as core competencies. The utilization of analysis models such as Porter's five forces models of industry competition. Models like this one help to identify the institution rivalry level with other existing institutions, and the bargaining power of suppliers, and customers and in this case students. The finance manager and the finance department as a whole. Finance supervisory committee 2 People metrics(employees turnover, satisfaction, and response to open positions, staff wellbeing, progress and staff engagement) Application of surveys and other vital metrics to get the rate of employees' satisfaction in respect to organization health. The introduction of open positions to know the number of qualified people applying for the open positions, which helps to define the level of exposure that exists when it comes to maintaining a maximum exposure to those that seeks jobs. All these seeks to identify the kind of image that is displayed by the institution to the external environment. The HR manager and the department as a whole. The campus manager should also be a key player in this measuring employee’s performance and satisfaction. The use of performance contracts can assist these players a lot in the evaluation process. Step 5: letter RE: Preparation for a job advertisement and meeting for the new recruitment drive. The ACA management has been concerned with the management of its five campuses located in other states. As a mother institution, ACA Management has seen the need to offer a solution to boost their administration. The management issues that has raised concern involves the manner in which their fiscal budget is being approached in line with the mission and achievement of the set objectives. Another issue is on making sure that these campuses management adheres to the states, accreditation agencies, and federal regulatory bodies, compliance with the university strategies, practices and process and finally, guiding and monitoring of all issues regarding academics to make sure that there is the quality provision of educational opportunities to students. The ACA institution plans to improve all sectors of its five campus. The approach to employ new campus managers seeks to ensure that all its function levels are ran effective and efficiently in line with the laid down policies and objectives. In reference to the management issues highlighted above ACA Management has scheduled a meeting with all the subordinates in the institution conference hall Wednesday of the second week of the month. The meeting seeks to discuss these issues and prepare an advertisement for job opportunities to higher five campus managers. The meeting is bringing all the institution teams together with the aim of collecting their opinions regarding the planned recruitments. This is aimed at all parties in the institution to compare what is required from the potential candidates in terms of skills and experience and assist in modifying them to ensure that only the qualified candidates will apply and be recruited. The management will appreciate your presence and opinions regarding the issue. Kindly make arrangements to avail yourselves on time. Sincerely ACA, HR Department Works Cited Chan, Albert PC, and Ada PL Chan. "Key performance indicators for measuring construction success." Benchmarking: an international journal11.2 (2004): 203-221. Del-Rey-Chamorro, Francisco M., et al. "A Framework to create key performance indicators for knowledge management solutions." Journal of Knowledge Management 7.2 (2003): 46-62. Read More