PROJECT B

BY: JHON PAULIN LINCOPINES

ALLOCATING FUNDS ACCORDING TO
BUDGET PRIORITIES

When an organization's budget is received, management must

distribute the funds to different programs. True values, such as the
strategic plan, comprehensive plan, business plan, and budget
targets, are reflected in resource allocation. The budget for these
programs should be based on their interests. Budgets are usually
created once a year and require allocating expected revenue and
resources to various departments and business interests. The
amount of funding allocated to each region limits the scope of
growth for a department. If funding is cut, for example, some
employees will have to be laid off in order to benefit from the new
allocation.
 DISCUSSING THE CHANGES TO INCOME AND EXPENDITURE IN
RELATION TO PREVIOUS BUDGETS AND ACTUAL PERFORMANCE

YOU CAN'T PRESUME THAT THE BUDGET HAS BEEN SET AND THAT
EVERYTHING WILL GO AS PLANNED. THAT IS WHY IT IS IMPORTANT TO
RECOGNISE PROBLEMS SO THAT THEY CAN BE ADDRESSED BEFORE IT IS TOO
LATE, AS WELL AS TO ENSURE THAT PLANS REMAIN ON TRACK. ALWAYS KEEP
IN MIND THAT UNFORESEEN EVENTS CAN OCCUR AT ANY TIME AND HAVE AN
EFFECT ON THE ORGANIZATION'S FINANCIAL RESULTS. CHANGES IN THE
INTERNAL OR EXTERNAL ENVIRONMENT CAN HAVE A SIGNIFICANT EFFECT
ON RESOURCE REQUIREMENTS OVER TIME. THAT IS WHY IT IS IMPORTANT TO
EXAMINE ACTUAL REVENUE AND EXPENDITURE IN ORDER TO ASSESS IF THE
BUDGETS ARE REASONABLE AND HAVE ENOUGH RESOURCES FOR THE
COMPANY TO OPERATE.
 CONSULTING APPROPRIATE PERSONNEL ABOUT
RESOURCE REQUIREMENTS AND DECISIONS

When it comes to consulting relevant staff, a diverse group of people

from both within and outside the company should be involved in the
decision-making process. Budgets should be developed in consultation
with those that would be impacted by the budget. They should seek
advice from the administration, customer service, information
technology, and human resources departments. Operational staff are
the ones who actually do the work; they are in the best place to spot
challenges, limitations, or issues with existing budgets, as well as to
advise employees on potential budget requirements to better plan
resource needs for the coming year.
 ABIDING BY THE COVID REGULATIONS AND
RESTRICTIONS IN SYDNEY, NEW SOUTH WALES
As a result of the Pandemic, certain legislation should be in place.
In Sydney, NSW, COVID rules and limitations apply. The COVID rules and
prohibitions are in the ff.
Physical separation- Keep at least 1.5 meters away from other people and
avoid close contact with people you don't live with to help minimize the risk of
COVID-19 infection.
Face masks- NSW Health advises carrying a clean face mask with you and
wearing it if you are unable to maintain a physical distance of 1.5 meters from
others.
lowering the risk of infection with COVID-19
Physical separation can help reduce the risk of infection from COVID-19
(coronavirus). Physical distancing, when combined with good personal hygiene
will help keep us all safe and protect vulnerable people in our society.
MAINTAINING STATUS AS A COVID SAFE BUSINESS

As a result of the Pandemic, we must always sanitize our

workplace to ensure the welfare of our employees and
customers.
Assuring that the facility is completely washed, disinfected,
and fitted with a plan for keeping it secure.
Putting in place a support structure for workers as they
return to work and adapt to the new realities and emotional
challenges that the COVID-19 pandemic has posed.

Developing a strategy for a healthy work atmosphere that

protects all workers and consumers from COVID-19-related
threats such as exposure and transmission.
IMPLEMENTING CONTACTLESS QR CODE
SCANNING AT ALL VENUES FOR:
TO PREVENT COMMUNICATION WITH OTHER PEOPLE, IT IS NOW BETTER
TO USE QR CODES RATHER THAN CASH. THIS IS FOR EVERYONE'S
PROTECTION.
ENTRY- IT CAN BE POSTED OR SHOWN AT THE ENTRANCES OR SERVICE
POINTS SO THAT GUESTS CAN CHECK THE QR CODE WITH THEIR
PHONE CAMERA.
QR CODE MENUS CAN BE SCANNED WITH CELL PHONES AND ARE
DIGITALIZED VERSIONS OF RESTAURANT MENU CARDS.

PURCHASE OF DRINKS AND FOOD WHERE POSSIBLE- QR CODE

PURCHASING IS SECURE; CUSTOMERS ORDER FROM THEIR MENU ON
THEIR PHONE, PAY REMOTELY, AND THE FOOD IS DELIVERED TO THEM.
 QR CODE SCANNING FOR RECORD KEEPING OF ALL PATRONS

It is safer to use QR codes, particularly now that there is

a pandemic. A company must make fair efforts to ensure
that its customers can use a compliant record-keeping
system. You'll just need to show a QR code, which any
guest can scan with their phones to reveal their personal
information. It will be contactless, and there will be a
great deal of confidence and performance. This is not
only for the staff's protection, but also for the safety of
the customers.
MAINTAINING RECORDS OF RESOURCE ALLOCATION

SINCE THE ORGANIZATION'S INFORMATION SYSTEM RELIES ON

ACCURATE RECORD KEEPING, IT'S IMPORTANT TO KEEP IT UP TO
DATE. AND ORGANIZATION SHOULD HAVE A SECURE LOCATION TO
STORE DOCUMENTS, AS WELL AS USER-FRIENDLY SYSTEMS TO
CAPTURE, COLLATE, AND REVIEW DATA.
MAINTAINING RECORDS OF RESOURCE ALLOCATION
DUE TO COVID

Maintaining a good record is crucial because each

company should have a secure location to store
information, as well as user-friendly processes to
compile, collate, and review documents. Many
ethical mechanisms for resource allocation have
been established, with some of them being used in
pandemic plans.
We should understand the degree to which resources
are already overburdened when implementing ethical
criteria for resource allocation. It would be
unacceptable, for example, to deny population groups
access to resources at the start of a pandemic when
capacity is still accessible.
This demonstrates our dedication to treating all with
dignity and respect.
Face masks are used when and where they are
necessary.
When you put on a mask, you shield both yourself and others. When everybody
wears a mask, it works best.
A mask is not a replacement for social distance. Masks should always be worn, as
well as keeping a distance of at least 6 feet between you and other people,
particularly when you're indoors with people who don't live in your home.
Masks should fully cover the nose and mouth, with no holes between them and the
sides of the face.
Traveling by plane, bus, train, or other form of public transportation into, inside, or
out of the United States, as well as in U.S. transportation hubs such as airports and
stations, masks should be worn.
Masks should be worn by people aged 2 and up in public and when they are with
people who do not live in their household.
If someone you live with is sick with COVID-19 symptoms or has tested positive for
COVID-19, wear a mask inside your house.
 Sanitizers
If soap and water aren't available, use sanitizer
instead.
 CHECKING INCOME AND EXPENDITURE

Making a budget report that identifies the expected

expenses and revenue from a specific sector is
checking the income and expenditure. It is an essential
component of a business plan because it informs us
about the project's or business's planned outcomes.
IDENTIFYING VARIANCES AND REPORT TO THE
APPROPRIATE PERSON

The approximate budgets as well as the real

figures will be determined by identifying
variances. This will only aid in the
management of funds, providing data on how
to best run the company. We should also
consider speaking with the appropriate
person for the job of evaluating this variance
study.
INVESTIGATING OPTIONS FOR IMPROVEMENTS
TO BUDGET MANAGEMENT

Budget control can be perplexing, but with the

right details, it can be simplified. That is why
researching the various options for change is
critical, as it will most likely shape the future
or next phase in a particular
company/business.
ADVISING THE APPROPRIATE PERSON OF
BUDGET STATUS

Discussing the budget status with coworkers

provides an opportunity to brainstorm and provide
suggestions for how to improve budgeting. The
budget status should indicate the growth, time
period, and funds expended on a regular basis.
These are crucial details because they can help
you make the best financial decision possible.
MONITORING INCOME AND EXPENDITURE AND EVALUATE THE
BUDGETARY PERFORMANCE

Monitoring revenue and spending ensures that money is

spent wisely. We can also make sure that revenue and
expenditures are being invested according to schedule so
that we can avoid financial surprises in the future.
Budgetary success, on the other hand, is the process of
creating a budget plan based on the results of various
business operations. Income and expenditure, as well as
budgetary efficiency, are critical indicators of the
business's performance and financial position. Successful
analysis and assessment of these will contribute to
increased income and performance.
RESEARCHING AND RECOMMENDING NEW APPROACHES TO BUDGET
MANAGEMENT INCLUDING:EVALUATION OF STAFFING AND ROSTERING
REQUIREMENTS

THE SIGNIFICANCE OF AN EMPLOYEE ASSESSMENT IS THAT IT IS CRITICAL

IN DECIDING WHETHER AN EMPLOYEE'S SKILL SET IS PROPERLY SUITED TO
THE WORK.
TO ENSURE THAT EACH SHIFT HAS ENOUGH STAFF TO KEEP THINGS
RUNNING SMOOTHLY.
FOR THE BEST JOB, HIRE THE BEST CANDIDATES. HOWEVER, MAKING THE
MOST OF YOUR TALENTED EMPLOYEES NECESSITATES KNOWING WHEN TO
ASSIGN THEM TO WHICH CHANGES. MANAGEMENT AND EMPLOYEES ARE
ALSO CONCERNED.
PRODUCTIVITY AND EFFICIENCIES CAN HAVE A BIG IMPACT ON YOUR
MARKET, AND THEY'RE USUALLY DETERMINED BY THE TYPE OF WORKFORCE
YOU HAVE.
 REVIEW OF OPERATING PROCEDURES DURING
COVID AND BEYOND

Since its start, Covid 19 has had an impact on the economy and how it
operates. To ensure that the risk is minimal, social distancing and a variety of
other procedures should be followed. When following these so-called
guidelines, operating procedures should be as reliable and safe as possible.
Some of the procedures that should be followed and enforced during
operations include regular login, temperature checks, and the wearing of
personal protective equipment. The management can strictly adhere to these
protocols so that employees are protected from disease and operations can
continue to run smoothly.
SOURCING NEW SUPPLIERS THAT ARE COVID
SAFE

A background check will assist you in

ensuring that the supplier is trustworthy.
Protocols against covid are extremely
significant, which is why we must
understand whether they are enforcing
them in their operations, development, and
management.
THANK YOU!