Question

Objective:To provide you with an opportunity to implement and monitor agreed improvements in line with financial objectives of the work team and the organisation.

Activity: What monitoring and reporting processes does your organisation use? How do you know if the implemented changes have been successful? Describe your involvement in this process over the last 12 months, outlining how you have implemented and monitored the agreed improvements. (minimum 250 words)

Answer 1

The monitoring and control plan is one of the most important component of decision making. The reporting and monitoring planning were designed before starting the implementation of planned your project. My organization use following key strategy to implement the monitoring practices, mainly in terms of finance, as

• Preparation of financial statement and statement analysis report : to judge the performance.
• Preparation of department wise budget: to keep track on every department and its contribution for organization profit
• A separate record of inventory for every department : to keep tract of consumption and usage of inventory
• Preparation Report for HR- analysis : to judge the efficiency of human capital
• Key accountability report : prepare by all key senior managers to proof their efficiency

To know about success of implemented change, we compare the above mentioned reports before and after implementation. The positive value of comparative study proofs the success of implemented positive value .

I had involved in preparation of many monitoring reports for my company , and helped management to keep tract of such implementation