VDIS10088 Manage Budgets and Financial Plans

Credit Points 15
This subject describes the skills and knowledge required to undertake financial management within a work team in an organisation. It includes planning and implementing financial management approaches, supporting team members whose role involves aspects of financial operations, monitoring and controlling finances and reviewing and evaluating effectiveness of financial management processes. Additionally performance management of staff who report to them directly is considered. Development of key result areas and key performance indicators (KPI) and standards, coupled with regular and timely coaching and feedback, provide the basis for performance management.

The subject applies to managers in a wide range of organisations and sectors who have responsibility for ensuring that work team financial resources are used effectively and are managed in line with financial objectives of the team and organisation. It also covers work allocation and the methods to review performance, reward excellence and provide feedback where there is a need for improvement.

The subject makes the link between performance management and performance development, and reinforces both functions as a key requirement for effective managers.

BSBFIM501 Manage budgets and financial plans
BSBMGT502 Manage people performance

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