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Elements and Performance Criteria

1. Calculate cost
   • Identify cost generating engagement centre transactions
   • Calculate transaction costs
   • Identify clearly fixed and variable components of transaction costs
2. Prepare budget
   • Produce accurate estimates of expected revenue supported by business and financial records
   • Identify expected operating expenses based on realistic projections
   • Identify proposed capital expenditure based on business plans and estimates
   • Work closely with stakeholders to identify factors that may influence operations and costs
   • Prepare justifiable high, low and expected budget scenarios
3. Present and justify budget
   • Deliver an effective presentation of customer engagement centre budget
   • Justify aspects of operating expenses, revenues and capital expenditure
   • Introduce qualitative information into justification when appropriate
4. Monitor budget performance
   • Correlate statistical performance of engagement centre to budget estimates
   • Closely monitor variations between actual budget reporting and expected budget
   • Maintain accurate tracking of accrued, invoiced and other costs
   • Identify cash flow implications for current and planned events
   • Communicate progress against budget to stakeholders
5. Control financial operations
   • Closely monitor reasonable threats to budget on a regular basis
   • Identify variations in engagement centre performance that present threats to financial performance
   • Identify operational strategies to minimise threats to budget
   • Regularly monitor staff compliance with financial delegation limits
   • Regularly update organisation’s financial control systems