project management

knowledge questionnaire
business finance
Assessment 1
Task 1
This unit forms part of the following qualification:
BSB50420 Diploma of Leadership and Management
BSBOPS502 Manage business operational plans
BSBWRT301 Write simple documents Trainer Guide

BSBOPS502 – Assessment 1 – Laneway Education Pty Ltd ABN: 91 607 441 412, RTO No: 41504, CRICOS CODE: 035976 Last updates 19/02/2022

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Assessment 1 3
Task 1 – Knowledge Questionnaire 3
Question 1.1 3
Question 1.2 3
Question 1.3 3
Question 1.4 4
Question 1.5 5
Question 1.6 5
Question 1.7 7
Question 1.8 7
Question 1.9 7
Question 1.10 7
Question 1.11 7

Assessment 1
Task 1 – Knowledge Questionnaire
This assessment is a written questionnaire with a mix of objective and subjective questions.
Refer to the learning material for this unit and undertake additional independent research if needed.
To complete this task satisfactorily, provide satisfactory answers to all questions in your own words, as instructed.
Provide answers to all of the questions below:
Question 1.1



The purpose and content of an operational plan

The role of an operational plan in achieving the organisation’s objectives

The purpose and content of a contingency plan

Question 1.2
Explain the difference between an operational plan modelled on the organisation as a whole and one that has been modelled to suit a specific organisational goal or department.

Question 1.3
Describe typical methods for developing an Operational Plan.

Question 1.4
Complete the table below to describe information sources necessary to develop and present operational plans. The first row has been completed as an example for you to follow.

Information source


Examples (provide 1)


Colleagues may be part of the same team, or from another team.

Team member
Manager of a different team

External consultants

Strategic plan

Budgets and forecasts

Legislation and regulatory authorities

Organisational policies and procedures

Question 1.5
List four ways to consult with stakeholders:

Question 1.6
Complete the table below to describe the requirements for resources included in operational plans:

Resource Type

Description of the resources and 2 examples:

How to acquire the resource:


How do you acquire physical resources and/or services?

What does a procurement process include (list at least four considerations)?

Relevant organisational policies and procedures (at least one):


What workplace documents provide information about financial resources? (describe at least one):

How does the budgeted and actual finances influence profitability and productivity of the operational plan?

Explain how to obtain additional finances:


How do you recruit staff?

List at least two induction strategies:

Relevant organisational policies and procedures (at least one):
Question 1.7
Explain the purpose of key performance indicators.

Question 1.8
List four different approaches to developing key performance indicators.

Question 1.9
Explain the procedure for documenting performance, including records that should be kept.

Question 1.10
Provide a definition of a PCBU and outline their key responsibilities under WHS laws.

Question 1.11
Outline the aim and scope of the Fair Work Act 2009.

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