Discuss About The Large Scale Public Sector Development Projects?
The table below shows the monthly budget template. The budget is prepared based on a particular scenario. The budget below is for a band group that is engaged in shows in different part of the country. The main revenue of the band is show ticket. The band also earns from other revenues like advertising, attending events etc. In preparing the budget, it is assumed that the revenue from ticket will increase by 10% from January to March. Then the business is expected to decline by 20% from April until August. Then the business is expected to increase by 25% during the recent of the year. The primary expenses of the band is the travelling expenses, professional fees and the employee’s compensation. There are many type of expenses that are incurred during the year that are included in the budgeted result.
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Objective
|
Measures
|
Targets
|
Initiatives
|
||||||||
Financial
|
|
ü ROCE ü Revenue Growth ü Utilization rate of Asset ü Operational Cost |
13% 7%
85%
$150 |
|
||||||||
Customer
|
Increasing the customer loyalty
|
ü Rating for customer satisfaction |
85% |
Customer loyalty program |
||||||||
Internal Processes
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Growth in the business - Capitalize on different deregulation opportunities - Optimization of different trading opportunities - Development of innovative services - Utilization of alliances - Leverage the research and development - with the customers Customer Service Excellence - Optimization of the asset utilization - Optimization of the return on allocation of the resources - Management of Cost - Enterprise wide management of risk |
ü Revenue percentage from different products and services ü Revenue % from news services ü NPV of different pipeline products and services ü % of promise delivery ü % rate capacity utilization ü Productivity improvement of employee ü % of cost reduction ü |
17%
8%
$400M
|
Development of infrastructure
Alliance Programs
Preventive maintenance
Service Dispatch mechanization
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||||||||
Learning and Growth
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Market Driven Competency Employee Satisfaction World Class Leadership (Lashley, 2015). |
ü Strategic coverage ratio ü Hours in strategic training ü Rating in satisfaction of employees (scale of 5 points) ü Effectiveness of leadership ratio (scale of 5 points) |
75%
11
|
Profiling of competency
Compensation link of performance
Training program for leadership |
Bower, D. C., & A. D. Finegan, (2009) ‘New Approaches in Project Performance Evaluation Techniques’, International Journal of Managing Projects in Business, 2 (3) pp.435-444.
Bright Hub PM, (2012) Examples of a Project Management Budget, Available at https://www.brighthubpm.com/templates-forms/61658-examples-of-a-project-management-budget/ (accessed: 12/09/12)
Lauras, M., G. Marques, & D. Gourc, (2010) ‘Towards a Multi-Dimensional Project Performance Measurement System’, Decision Support Systems, 48 (2) pp.342-353.
Lenfle, S., & C. Loch, (2010) ‘Lost Roots: How Project Management Came to Emphasize Control over Flexibility and Novelty’, California Management Review, 53 (1) pp.32-55.
Pajares, J., & A. López-Paredes, (2011) ‘An Extension of the EVM Analysis for Project Monitoring: The Cost Control Index and the Schedule Control Index’, International Journal of Project Management, 29 (5) pp.615-621.
Toor, S. R., & S. O. Ogunlana, (2010) ‘Beyond the ‘Iron Triangle’: Stakeholder Perception of Key Performance Indicators (KPIs) for Large-Scale Public Sector Development Projects’, International Journal of Project Management, 28 (3) pp.228-236.
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