1

Analyse strategic opportunities and intended maintenance activities

1.1

Strategic opportunities are expressed in terms of aircraft and aeronautical product maintenance activities

1.2

All intended maintenance activities are converted into special projects or work programs

1.3

Financial trends are analysed and interpreted in the context of the organisational strategic objectives

1.4

Financial planning objectives, process timeframes and resources are clearly identified

2

Develop revenue, expenditure and capital investment proposals

2.1

Individuals and groups are given responsibility for the development of specific budgets and plans

2.2

Consultation occurs with all relevant groups and individuals throughout the organisation

2.3

Proposals are developed taking account of past experience, present trends and future expectations

2.4

Outcomes of proposals are clearly linked to organisational strategic objectives

2.5

Realistic cost-benefit and Maintenance Organisation Exposition compliance costs are incorporated into all proposals

2.6

Organisational investment target rates are met for capital expenditure proposals

2.7

Performance measures and tactics for monitoring and control processesare identified for each proposal/action and a financial risk management plan is developed

2.8

Proposals comply with the organisation’s values, policies,code of conduct, legal and ethical obligations

2.9

Proposals are developed within the agreed timeframes

2.10

Supporting evidenceis valid and sufficient to allow proper evaluation of the proposals

3

Build agreement for budgets and financial plans

3.1

Negotiation is undertaken with relevant groups and individuals in ways that build commitment to the plans

3.2

Links to the achievement of organisational strategic objectives are identified and agreed

3.3

Outcomes are confirmed in terms of clear, concise objectives and timeframes

3.4

Negotiations lead to a clear agreement of those matters to be incorporated into budgets and plans

3.5

Budgets and plans incorporate the outcomes of negotiations and meet organisation’s approval processes

3.6

Delegations, accountabilities and responsibilities are agreed and confirmed in writing

3.7

Final budget and plans are clearly documented and a communication plan developed

4

Communicate budget and financial plans

4.1

Budget/financial plan communication package is reviewed by finance specialists

4.2

Package is amended/revised where appropriate

4.3

Training activities are undertaken with users of the budget and plans across the organisation

4.4

All data and terms are defined and understood by the users of the plans

4.5

Communication outcomes are tested to ensure clear understanding of objectives, processes and accountabilities

5

Monitor and control activities against plans

5.1

Delegations and budget accountabilities are confirmed in writing prior to budget period

5.2

Funds are allocated in accordance with budget objectives and parameters

5.3

Recording systems and documentation meet all audit requirements and legal obligations

5.4

Risk management plans are implemented and contingency plans put in place for all financial plans

5.5

Performance is monitored and variances promptly identified

5.6

Variances are analysed in conjunction with relevant experts to determine cause and effect

5.7

Remedial action is taken swiftly to minimise negative impact and maximise benefits

5.8

Budgets and plans are renegotiated/restructured where necessary to optimise organisational performance

6

Report outcomes of financial plans

6.1

Records of financial performance are properly maintained within organisational systems

6.2

Financial performance is analysed and reported in a form and language appropriate to the audience

6.3

Non-financial objectives are reported in the context of overall organisational performance

6.4

Strategies and plans are reviewed and updated to optimise organisational performance