budget management

Assignment Grading Criteria
Budget Management Analysis
Week Five
1. Write a 1,200- to 1,500-word paper, which includes a cost variance, in which you complete the following:

Determine specific strategies to manage budgets within forecasts. Zero based (analyzes every expense within an organization and justifies the need and cost of each), activity based (is the gathering of the operating cost data, which is assigned to specifc activies such as engineering) performance based (performance dashboard uses the metrics of performance and analyzes the root cause of financial problems), cost variances (looks at the differences of the actual cost and expected cost of an expense) and benchmarking (gathers information of the performance and processes from similar organizations and compares the data to help with making improvements).

Motivating the staff and informing them of the budget goals is another strategy that may be used to help the organization succeed. Compare five to seven expense results with budget expectations, and describe possible reasons for variance. 343 Recommend three benchmarking techniques and identify those that might improve budget accuracy in future forecasts. Justify your choices.

2. Format your paper consistent with APA guidelines. Use the APA Sample Paper in Center for Writing Excellence (CWE) as a guide. 3. Use headings appropriately to provide organization and structure for your thoughts.

Content
8 points possible
Points available
Points earned
Compares five to seven expense results with budget expectations and describes possible reason for variances and strategies to keep results aligned with expectations 4

Recommends three benchmarking techniques that support avoidance of budget variances and justifies choices of techniques for this purpose 4

Format
2 points possible
Points available
Points earned
Follows rules of grammar, usage, and punctuation
Has a structure that is clear, logical, and easy to follow
Consistent with APA guidelines for formatting and citation of outside works 2

Total
10

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