OBU RAP Topic 1


An analysis and evaluation of an organization’s budgetary control system and its links with performance management and decision making

Budget-folder

“Better knowledge  of different aspects of budgetary control system along with its application on overall performance of the selected organisation in a specific period of time under well qualified mentor is key to success for passing RAP under this topic”

Budgetary control is a system of management control in which actual income and expenditure are compared with planned income and expenditure. The major purpose for budgetary control is to ensure that all estimated expenditure are in line with planned progress of the entity. Everyone can use budgeting techniques, no matter whether they are the largest organization or the poorest individual. The art of budgeting imbues with the sense of discipline that cannot gain from anywhere else.

This topic mainly focuses on two aspects

  1. Analysis and evaluation of an organisation’s budgetary control system; and
  2. Linkage of budgetary control system of the organisation to its performance management and decision making.

You must know about performance management of the organisation, as it is the ability of tracking performance against targets and identifying opportunities for improvement. Delivering sustain success to organizations by improving the performance of the people who work them and by developing the capabilities of teams and individual contributors. Managing performance is among the various functions of organizations in today’s turbulent-business environment. This is a continuous process in which organizations clarify the level of performance required in meeting their strategic objectives and managing them continually in order to ensure, not only that they are being achieved but also that they remain relevant and consistent with overall strategic objectives. Sound decision-making processes with regards to budgeting are a fundamental feature of good governance and management in any organization.

Student must have basic concepts of budgeting along with various types of budgets. Based on overall information gained directly from management of the selected organisation, student need to assess critically about how overall budgetary control system of the organisation is link with overall performance management and decision making through providing relevant information that actually derive during research work on this topic.

Key features / requirements:

  • Assessment of budgetary control system of the selected organisation.
  • Proper linkage of performance management of the selected organisation with overall budgetary control system.
  • How overall budgetary control system impact on decision making of the selected organisation.
  • How efficient is overall budgetary control system of the selected organisation.
  • Provide some quantitative and qualitative analysis to substantiate above mentioned aspects in proper manner
  • Maintain proper balance in explanation / analysis of different aspects that required under this topic.

*Feedback from project mentor is essential to get good grades in RAP.

Key Success Factors:

  • Good knowledge of basic concepts of budgetary control system and various types of budgets.
  • Excellent knowledge of overall budgetary control environment of the selected organisation.
  • Proper linkage of budgetary control system of the selected organisation with overall performance of the selected organisation in specific span of time.
  • Proper discussion with practical examples that how good/bad decision occurred due to overall budgetary control system adopted by the selected organisation.
  • Proper application of all selected aims and objectives (that decided in inception of RAP) in appropriate sections of RAP.
  • Proper answering of all research questions (that decided in inception of RAP) in appropriate sections of RAP.
  • Usage of proper research methodology to achieve good result against all selected aims and objectives (that decided in inception of RAP).
  • Maintain proper sequence of all discussion in logical manner by keeping all requirements of the topic.
  • Logically conclude all performed work at the end of Research Report by keeping in consideration of all requirements of the topic.

 *Feedback from project mentor is essential to get good grades in RAP.

Major benefits for choosing this topic:

  • Student will practically apply his/her bookish knowledge into real life.
  • Major aspects / steps in overall budgetary control system will reveal on student.
  • Student will identify linkage of proper budgetary control system with overall performance and decision making of the company.
  • Various techniques learned under this topic will substantially help student in his/her professional life.

Major possible limitations faced by student under this topic:

  • Students may not entertain well by the management of selected organisation in provision of required information due to various issues (e.g. confidentiality aspects, non availability of authorized person to disseminate information to student for research work, etc.)
  • Student may not find good stuff from internet  or other sources (due to weak research approach) to bring ideas for improvement in the project.
  • Performance management in respect of budget control system of selected organisation may not critically assess by the student due to lack of professional experience.
  • Student may be confused due to variation in actual information (verbal or documented) provided from primary sources with the result that he/she actually derive from his/her research work as per requirement of the topic.  

 *Feedback from project mentor is essential to get good grades in RAP.

Suitable organisation under this topic:

The most suitable organisation under this topic is that for which student have access to management of the company and moreover management of the company is willingly provide all required information to student as required under the topic. Selection of most appropriate organisation is very essential as student must have better understanding of overall operations of the organisation and moreover he/she also have enough knowledge of the sector in which his/her selected organisation actually operates. Based on better knowledge of the organisation and respective sector , student will be able to interlink various aspect of overall operations of the selected organisation with all requirements of the topic that ultimately help him/her in getting good grades. In short student need to assess following aspects in selection of organisation for RAP.

  • Student’s own interest related to overall business of the organisation;
  • Accessibility of information from primary sources (extremely important in topic 1);
  • Accessibility of information from secondary sources;
  • Knowledge of overall operations of the organisation (extremely important in topic 1);
  • Knowledge of overall associated sector of the organisation;
  • Availability of time from concerned officials of selected organisation (extremely important in topic 1);
  • Basic idea of requirements of selected topic and their applications on proposed organisation in inception of RAP.

*Feedback from project mentor is essential to get good grades in RAP.

Suggested approach for this topic:

Under this topic, student must plan properly from inception so that he/she can complete all tasks effectively in proper manners. First of all, student must  gain excellent understanding of major requirements of this topic and he/she need to critically assess all aspects of requirement by defining detailed strategy.  Student need to assess that what process that he/she actually follow to meet all requirements that only possible through detailed planning in inception of RAP.

Student need to  prepare overall content of RAP under topic 1 that describes logical sequence of all tasks that need to adhere by the student. This content will also help student to keep on right track from inception and at the same time student can also assess time factor against planned vs. actual tasks through considering his allocated time for complete preparation of RAP.

After finalization overall content of RAP under topic 1, student need to start working logically from gathering of information as per requirement of topic. Student need to assess all gathered information very critically through consultation from mentor. Mentor feedback on key areas of RAP is very essential so student should share his/her thoughts with project mentor regularly to get efficient guidance in time accordingly.

In short, there is no 100% suggested approach for topic 1 as keeping broader level approach (described above) , detailed approach under topic 1 varies due to student’s perception that he conceived from requirements of the topic along with available information of selected organisation. Whatever, the approach you will follow , keep getting guidance from project mentor at every step so that you can meet all requirements of topic and get good grades.

*Feedback from project mentor is essential to get good grades in RAP.

Availability of Information:

Student have to complete his/her RAP based on provision of information directly from management of the organisation (i.e. primary sources of information) along with vast information available through different mediums (internet, newspaper, books, etc.) under secondary sources of information.  Availability of information from primary sources under topic number 1 is very essential as this topic cannot complete at all without getting specific information of the selected organisation. Student need to ensure that he has access of vast information from management of the selected organisation and there is no confidentiality concerns by them as well.

In short, student need to assess very critically before opting this topic for RAP as all requirements of this topic only meet if student have enough information about selected organisation. If there is any doubt on provision of required information during perpetration of RAP then student should not select this topic for RAP as it impact on overall evaluation of information and overall grades of RAP.

*Feedback from project mentor is essential to get good grades in RAP.

Important Links:

Business Analysis Section of RAP

Reference Generator Link

Others


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