Budgetary Review Dissertation Example

Free Budgetary Review Dissertation Example

Name: Instructor: Course: Date: Prime Electrical Human Resource Team Budgetary Review Based on the organization reviewed in task 1.1 obtain the budget or financial plans for a specific work team. Conduct thorough review of this budget using all available and up to date data to evaluate the extent to which the performance of the work team adheres to the budget requirement. According to Shim, Siegel and Shim, A. (2011), a budget refers to a planned and organized strategy to allocate physical, human resources and financial assets to meet the core organizational objectives, goals and missions. Every entity ought to focus on scrutiny and review of the budget, which helps to predict, forecast and gauge the viability of the budget towards meeting the set workplace targets. At a glance, through budget review, the organization understands and familiarizes with the strategic decisions to meet the set targets, increasing efficacy and staffing activities to counter-attack the dynamics of competition. The budget is prepared concerning the highlighted clauses below. Based on the outcome of your evaluation, prepare a proposal for improving the ability of the work team to adhere to set budget. As a minimum, this proposal must include: Persons to be consulted to ensure that the budget can be achieved Human resource department as well as the financial analyst of the company ought to be consulted to ensure the budget prepared in the organization effectively aligns towards meeting the set goals and objectives. Ultimately, this revolves around the project manager's jurisdictions to evaluate the level of the manpower required to carry a particular project according to the stipulated time of the project. Moreover, the number of hours required by the manpower required to complete the project, the number of salaries and wages are the employees paid to work on that project, evaluate the required raw materials like cement, electrical wires required to complete the assigned...