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CMI Assignment Help > Blog > CMI Level 5 > CMI 516 Assignment Example

CMI 516 Assignment Example

  • December 4, 2024
  • Posted by: Scarlett
  • Category: CMI Level 5
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CMI 516 Assignment Example

CMI 516 Planning, Procuring and Managing Resources is designed to help managers understand and handle the challenge of managing and monitoring resources. Learners will learn how to use resources effectively and efficiently, plan for resource needs, and understand how to acquire resources while following regulatory guidelines.

Assessment Questions

Learning Outcome 1: Understand the importance of effective and efficient resource use in organisations

AC 1.1 Analyse the importance of effective and efficient resource use in organisations

Example:

In any organisation, whether it’s a business, nonprofit, or government agency, using resources effectively is key to success. This is because all organisations have limited resources, and if they are not used properly, the organisation won’t reach its goals.

To be successful, organisations must use their resources in the most efficient way. This means using the right amount of each resource — not too much or too little — and using it as efficiently as possible. When done well, effective resource use can save money, boost productivity, and improve overall performance.

AC 1.2 Examine processes for effective and efficient resource use in organisations Example: There are several processes that can help organisations use their resources effectively and efficiently. One process is resource allocation. This is when an organisation decides how to best use its resources. It involves identifying the organisation’s goals, figuring out which resources are needed to reach those goals, and then distributing those resources accordingly. Another process is resource management. This involves overseeing and coordinating the use of resources.

f resources. It includes identifying goals, determining the necessary resources, acquiring them, and ensuring they are used as efficiently as possible. Learning Outcome 2: Know how to plan resources to meet organisational objectives AC 2.1 Assess factors which impact on resource planning to meet organisational objectives Example: When planning for resource allocation, organisations must consider several factors to meet their objectives. First, they should think about the overall goal and how different resources will help achieve that goal. For example, if the goal is to increase sales, resources should be allocated to support marketing and sales efforts. Next, organizations need to evaluate the current state of their resources and whether they can meet future demands. For instance, if inventory is low, they will need to plan for increased production to meet customer needs. Lastly, external factors, such as changes in the market or shifts in customer behaviour, must also be considered, as they can affect resource planning. AC 2.2 Examine approaches for determining a change to resourcing Example: Organisations can use several approaches to decide if they need to make changes to their resources. One approach is to conduct a needs assessment. This involves evaluating the current state of the organisation and its resources to identify any gaps. This information helps determine if a change is needed. Another approach is a cost-benefit analysis. T...

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