You are a project manager for Australian Constructions. The CFO/Accountant, Lynn has prepared and shared his financials with the management team for a review. Mr. Australian, the CEO has asked you to review and would like you to meet with him to discuss whether the budget projections are achievable, accurate, understandable and fair. He would like you to look at the budget for projects closely, note any changes you think are necessary, develop an argument for the changes and negotiate those changes with the relevant individuals and teams. As a special project, the CEO has asked you to perform a risk assessment and develop a contingency plan to manage the risk of sales falling 20%.
Your task
Complete the following activities and document for the use by Australian Constructions teams and individuals. Then meet with the CEO (Your Assessor) to discuss your contingency strategies:
1. Read and review the financial information and the other information available in the case scenario (Appendix 1). Note down the summary in dot point. 2. Read the “budgeting and finance Policy” to ensure budgets and financial plans are prepared in line with the policy and considering organizational requirements and note down any variations.
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