Develop a system for monitoring the resource usage that

Assignment Detail:- Assessment - Project Portfolio In this task, you are required to demonstrate your skills and knowledge by working through a number of activities and completing and submitting a project portfolio- RequiredYou will need access to: a suitable place to complete activities that replicates a business environment including a meeting space and computer and internet accessyour learning resources and other information for reference Project Portfolio template-Simulation Pack -if using the case study-- Assessment criteriaFor your performance to be deemed satisfactory in this assessment task, you must satisfactorily address all of the assessment criteria- If part of this task is not satisfactorily completed, you will be asked to complete further assessment to demonstrate competence- Activities Complete the following activities: 1- Carefully read the following: This project requires you to manage business resources by developing, implementing and reviewing three resource plans-These resources can be any type of resources that are needed to meet the business or project's objectives including physical and/or human resources- Resources may include: Hardware / software Buildings / plant / machinery VehiclesMarketing or branding assets Books / training resources Intellectual PropertyHuman resources -e-g-, labourers / customer service or administration staff- You can do this based on the assumption that you are the team leader of a case study business -rr5ytefer to simulation pack-- It's important that this business has strategic objectives in place and has the need for three resource plans to be put in place, for example, the need to employ more staff or complete purchasing to help achieve a new or existing project or business venture- You will be collecting evidence for this unit in a Project Portfolio- The steps you need to take are outlined below- Section 1 2- Analyse resource requirements To start with, read through the Simulation Pack, so that you understand the business's objectives and the resourcing needs-Start working through Section 1 of your Project Portfolio- In order to do this, you will be required to:Review the business planningOutline the business context and the regulatory and legislative considerationsConsult with relevant stakeholders to find out the nature and level of resourcing required Determine the internal resourcing capabilities and any external resourcing requirements Plan for sharing of resources across departments or business units- As you are using the case study in the simulation pack for this unit, you need to select one of the operational activities provided to you in the operational plan extract- Three different resources have been identified for each different activity that you will base your project on- There are a range of activities outlined that meet the two different business objectives- Read through this information and select the activity and three resources related to that activity- A range of policies and procedures related to finance authorisation, procurement, privacy, communication and recruitment have been provided for the range of different resources you might select- As part of this step, you are required to consult with relevant stakeholders -at least two- to find out the nature and level of resourcing required- This could be done via role play with your assessor-Your assessor will be looking to see that you can: Use structure and language appropriate to the context of the meeting and the types of stakeholders you are meeting with-Collaborate and negotiate the nature and level of resource requirements to inform planning demonstrate effective communication skills including: Speaking clearly and conciselyUsing non-verbal communication to assist with understanding Asking questions to identify required informationResponding to questions as requiredUsing active listening techniques to confirm understanding- You can arrange only one meeting to discuss the three resource plans if the same stakeholders are involved for all three plans- This may be the case for a smaller business with a one-person -or smaller- management team- Or you may need to have more meetings if the company needs to include more stakeholders, for example, the HR department and other business or operational units and it's more appropriate to have more than one meeting- You will specify this in Section 1 of your Project Portfolio and include evidence of all the meetings in form of meeting notes- This meeting may take place with actual people who work for/are associated with your chosen business-This can either be viewed in person by your assessor who will also be participating in the roleplay and is a compulsory part of your assessment- Section 2 3- Develop resource plans Develop your three resource plans in Section 2 of your Project Portfolio- As part of this step, for all three resource plans, you need to plan for:The costs and budget associated with the resources TimelinesThe acquisition and allocation of the resources Risk management and contingency planning After you have completed Section 2 of your project portfolio, develop a formal Scope of Requirements document in a template of your choice -or a specific workplace template if relevant-, that can be sent to the selected vendors once approval from management has been granted- Attach this to section 2 of your project portfolio- Develop a system for monitoring the resource usage that includes a policy and procedures for the evaluation of the resource allocations- As part of the next activity steps, you will need to follow this procedure when you evaluate and report on the resource usage-Attach these procedures to your portfolio in Section 2- There are three separate resource plans in Section 2 of your Project Portfolio- You need to complete all three separately for each of the resources-As part of this step, you are required to obtain the necessary approvals for your plans- If you are completing this for a real business or workplace, attach evidence of this such as an email trail or other formal approval documentation- If using the case study, develop an email requesting approval from the Operations Manager for your plans and attach it to your portfolio-Submit Section 2 of your Project Portfolio and include all attachments as required in this section- Section 3 4- Implement your planning and allocate the resources It's now time to put your planning into action by negotiating and obtaining the resources according to your plans- This needs to be completed within the timeframes outlined in your planning and according to all other organisational requirements such as procurement policies- As part of this step, you will need to provide evidence that you have done this for all three of your plans which will include:obtaining quotesobtaining the necessary approvals to move forward arranging the acquisition of the resources-Refer to Section 3 of your Portfolio for more details- Ensure to work in line with the resource allocation and monitoring system and procedures developed in the previous activity step-Complete Section 3 of your Project Portfolio to record this evidence- As using the case study, you can assume that your manager has approved yourrecommendation after you send the email recommending your preferred suppliers- If in the workplace, attach any approvals you received as part of the process- Submit Section 3 of your Project Portfolio and include all attachments as required in this section- Section 4 5- Review and report on resource usage There must also be at least one corrective action that needs to be implemented for at least one of the resources- As you are using the case study, your assessor will provide you with some specific information tailored to your unique portfolio- Review the data about the resource usage for all three resources and develop a report that includes information on the usage of these three resources- In your report include:An overview of the level of performance achieved in relation to the resource usage- How the resource usage helped meet the business unit's objectives-Suggest improvements to work practices that increase efficiency of these resources- Provide a review of the compliance of the program and adherence to the budget-Report on corrective action where there has been a budget overrun or goals haven't been met and an action that has been implemented to achieve optimal efficiency of the resources -at least one corrective action must need to be completed for at least one resource and evidence of this needs to be provided as an attachment in this section--Work into Section 4 of your project portfolio to plan your report and corrective action and then from your notes develop a formal report and include this report as an attachment in this section- Attachment:- Project Portfolio-rar
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