Elements and Performance Criteria
- Analyse strategic and operational plans
- Strategic opportunities are expressed in terms of tactical and operational objectives
- Tactical and operational objectives are converted into special projects or work programs
- Financial trends are analysed and interpreted in the context of the organisational strategic objectives
- Financial planning objectives, process timeframes and resources are clearly identified
- Develop revenue, expenditure and capital investment proposals
- Individuals and groups are given responsibility for the development of specific budgets and plans
- Consultation occurs with all relevant groups and individuals throughout the organisation
- Proposals are developed taking account of past experience, present trends and future expectations
- Outcomes of proposals are clearly linked to organisational strategic objectives
- Realistic cost benefit and risk analyses/management plans are incorporated into all proposals
- Organisational investment target rates are met for capital expenditure proposals
- Performance measures and tactics for monitoring and control processes are identified for each proposal/action
- Proposals comply with the organisation's values, policies, Code of Conduct, legal and ethical obligations
- Proposals are developed within the agreed timeframes
- Supporting evidence is valid and sufficient to allow proper evaluation of the proposals
- Build agreement for budgets and financial plans
- Negotiation is undertaken with relevant groups and individuals in ways that build commitment to the plans
- Links to the achievement of organisational strategic objectives are identified and agreed
- Outcomes are confirmed in terms of clear, concise objectives and timeframes
- Negotiations lead to a clear agreement of those matters to be incorporated into budgets and plans
- Budgets and plans incorporate the outcomes of negotiations and meet organisation's approval processes
- Delegations, accountabilities and responsibilities are agreed and confirmed in writing
- Final budget and plans are clearly documented and a communication plan developed