MONITOR OF OPERATIONS AND SOURCES OF FINANCE

Monitor of Operations and Sources of Finance



Monitor of Operations and Sources of Finance

Introduction

Measuring the impact and effectiveness of a policy or action is vital to its continued success, improvement and sustainability. In particular, monitoring and evaluation of the sensitivity of a policy or action is crucial to estimate the degree to which the statements of commitment and intentions are actually implemented (the "policy gap"). Monitoring, evaluation and design of indicators have gained importance in recent years. Many training projects include monitoring and evaluation sessions.

This document presents the main objectives, methods and tools for the monitoring operations as networks of researchers implement. For students, teachers and researchers speaking participating in the networks, this paper aims to verify the relevance and coherence of the objectives of an operation to measure its effectiveness, that is to say, the degree achievement of objectives, to assess the implementation of means and their suitability for university context and scientific or educational objectives.

Discussion

Monitoring and evaluation system serves two purposes: as a support to improve efficiency and effectiveness of people management activities and as an educational process through which participants can become aware and increase their understanding of the different factors which affect their lives. With the achievement of these two aspects, increases people's control over the development process.

Monitoring and evaluation allows the company and employees to review progress and impact of the project, establishing the feasibility of the objectives, and identify and anticipate problems, enabling them to take steps to avoid or solve them. The monitoring and evaluation process is linked to decision making, allows the company to redefine its goals and make adjustments in activities, when necessary.

The management of operational performance is to understand the factors that indicates the overall performance of the business. It is a natural extension of BPM (Business Performance Management) and provides the keys to the company to achieve greater agility which translates into increased profitability and the ability to exceed its goals.

Performance of the operations of a business can be analysed with the help of following:

modelling complex activities

plan, analyze, predict, monitor all your operational actions

handle large volumes of data, both financial and operational

have information "on demand" in real time or near real

integrate data from multiple sites

This approach provides a number of advantages to the company:

the opportunity to focus on indicators that are strongly correlated to reality at a very detailed level

follow the performance management figures, expressing the objectives of the company in financial measures

to achieve shared assumptions for relaying the strategy throughout the organisation

to establish a strategy embedded in each function, resulting in increased agility and self-optimising behaviour

to have no relevant financial indicators, reducing the time lag between performance measurement and corrective action

The implementation of an application of OPM (Operational Performance Management) allows us to understand what is the overall performance of the business? It also answer questions such as:

How to redefine our flagship product line to increase our margins?

In which plant should we make such a product given the cost of transporting raw ...