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Bsbops601 - Week 3

This document provides an overview of the topics and learning objectives for a course on developing and implementing business plans. The topics covered include requirements for business plans, setting performance objectives and measures, developing financial statements and budgets, assessing required resources, licenses and permits, managing risks, and writing the business plan. The learning objectives are to determine strategic objectives, define performance objectives, and develop a business plan that incorporates all of the critical elements.

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Natti Nonglek
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146 views

Bsbops601 - Week 3

This document provides an overview of the topics and learning objectives for a course on developing and implementing business plans. The topics covered include requirements for business plans, setting performance objectives and measures, developing financial statements and budgets, assessing required resources, licenses and permits, managing risks, and writing the business plan. The learning objectives are to determine strategic objectives, define performance objectives, and develop a business plan that incorporates all of the critical elements.

Uploaded by

Natti Nonglek
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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BSBOPS601 - Develop and

implement business plans

Week #3

greenwichcollege.edu.au
TOPICS • Requirements
• Performance objectives and
measures

• Write the business plan


Requirements

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LEARNING • Determine strategic
OBJECTIVES objectives
• Define performance
objectives
• Develop a business plan

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Financial statements

 Income statement
 Balance sheet
 Financial ratios
 Cashflow statement

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Budget
Consider:
 The timeframe of your budget
 Fixed costs estimate
 Variable costs estimate
 Income
 Record the actual costs and income over the period
 Analyse your budget

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Human and physical resources
Consider:
 Existing resources
 Employment options
 Office space
 Equipment
 Technology
 Logistics

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Permits or license
Consider:
 Legislative and regulatory
requirements
 Code of conduct
 Permits or license needed

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Performance objectives and measures

 Set SMART objectives


 Determine KPIs for each
objective
 Create an organisational culture
that is committed to achieve

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Write the business plan
 Do your homework: research, research, research
 Write the executive summary last
 The business plan is a living organism that requires constant review and
adjustment
 The plan is not the business but an overall strategy and a roadmap
 Involve several competent people in developing the business plan, rely
on different perspectives and a variety of competencies
 Consider the risks that you will face and reflect on your ability to
overcome them
 Avoid vague and unsubstantiated statements
 Establish clear action steps
 Have a contingency plan for the higher risks
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Risks and Assumptions
 Risks,
Assumptions and
Issues
Identify Risks
Analyse Risks
Manage Risks

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Risks Probability and Impact
Probability Impact
Probability Impact

Rating Category Descriptor Rating Category Descriptor


Rating Category Descriptor Rating Category Descriptor

5 Very high Almost certain 5 Very high Severe


5 Very high Almost certain 5 Very high Severe

4 High Likely 4 High Major


4 High Likely 4 High Major

3 Medium Possible 3 Medium Moderate


3 Medium Possible 3 Medium Moderate

2 Low Unlikely 2 Low Minor


2 Low Unlikely 2 Low Minor

1 Very low Rare 1 Very low Negligible


1 Very low Rare 1 Very low Negligible

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Risks Priority
Priority Impact
Priority Impact
rating
rating

Very high High Medium Low Very low


Very high High Medium Low Very low

Very high 25 20 15 10 5
Very high 25 20 15 10 5

High 20 16 12 8 4
Probability

High 20 16 12 8 4
Probability

Medium 15 12 9 6 3
Medium 15 12 9 6 3

Low 10 8 6 4 2
Low 10 8 6 4 2

Very low 5 4 3 2 1
Very low 5 4 3 2 1

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ID
ID

Risk description
Risk description

Potential impact
Potential impact

Probability
Probability

Impact
Impact

Priority
Priority

Risk
Risk triggers
triggers to be
to be
monitored
monitored
Risks Log

Risk management
Risk management
strategy
strategy

Owner
Owner

Due date
Due date

Escalation/Commu
Escalation/Commu
nication
nication

Status (open,
Status (open,
closed,
closed, watch list)
watch list)
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CONCLUSION

QUESTIONS AND
RECAP

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Disclaimer

Icons and images in this document sourced and purchased from:


www.dreamstime.com/, sourced via google search as ‘labelled for
reuse with modifications’ or sourced from www.pixabay.com
under a CC0 Creative Common license (free for commercial use
and no attribution required).

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