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What should be used in an organization's budget program?
To help managers plan and control the organizations performance
List three factors that affect budget resource allocation decisions of managers provide appropriate examples for each of these three factors?
List three factors that affect budget resource allocation decisions of managers provide appropriate examples for each of these three factors?
A method to monitor variance between actual performance and budget is described?
Monitoring income statements is a way that people can monitor variance between actual performance and budget. Managers can be assigned to look over income statements for clients.
Why budget is prepared?
Budget helps to aid the planning of actual operations by forcing managers to consider how the conditions might change and what steps should be taken now and by encouraging managers to consider problems before they arise. It also helps co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments. Other essentials of budget include:To control resourcesTo communicate plans to various responsibility center managers.To motivate managers to strive to achieve budget goals.To evaluate the performance of managersTo provide visibility into the company's performance
A statistic planning budget is suitable for planning and for evaluating how well costs are controlled true or false?
A static planning budget is suitable for planning and for evaluating how well costs are controlled.
By representing the budget and schedule associated with each task the Performance Measurement Baseline (PMB) allows program managers to?
compare the value of work performed to actual costs
Why are control accounts essential in a work breakdown structure or WBS?
They enable project managers to compare earned value against the project's performance in terms of scope, budget, and schedule
How are senior managers personally involved in HSE managemen?
Senior managers overseeing the whole project, approving budget for HSE aspects.
What are some examples of performance goals for project managers that can help drive success and achievement in their roles?
Some examples of performance goals for project managers include meeting project deadlines, staying within budget constraints, effectively communicating with team members, resolving conflicts efficiently, and continuously improving project processes. These goals can help project managers drive success and achieve their objectives in their roles.
What is controllable spending?
Controllable spending is simply spending that a given manager has control over. Controllable spending is examined in evaluating the budget performance of the manager who had control, in seeing how well he managed costs for his unit.
In what situations will a static budget be most effective in evaluating a manager?
A static budget be most effective in evaluating a manager for a few reasons. This might be the case if the store has been losing money and for once it is staying static.
How do you make a plan for evaluating a business?
A business plan is a great tool for evaluating a business. It provides benchmarks, budget, predictions for future development.
