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Information Quality Applied: Best Practices for Improving Business Information, Processes and Systems
book

Information Quality Applied: Best Practices for Improving Business Information, Processes and Systems

by Larry P. English
October 2009
Beginner to intermediate content levelBeginner to intermediate
839 pages
29h 16m
English
Wiley
Content preview from Information Quality Applied: Best Practices for Improving Business Information, Processes and Systems
Chapter 12 n IQ Applied to Financial and Risk Management 557
3. Plan Budget to Meet Enterprise Mission
Planning is required to accomplish the Mission economically. Organizations
must fund the resources acquired to do so.
3. Plan Budget Process Activities
3.1. Understand the Enterprise Mission and your unit’s Value Proposition
for it: Without a clear understanding of the Enterprise’s purpose and how
individual work enables accomplishment, a business unit may inadver-
tently spend money in ways that cause other internal processes to fail.
3.2. Develop Budgets: To accomplish the Value Proposition
3.3. Manage Capital Planning: To maximize strategic use of capital equipment
or facilities
3.4. Manage Resource Allocation: To utilize resources (money, staff, and
equipment) effectively, continually evaluating resource application effec-
tiveness, defined in Activity 8
3.5. Manage cash flow: To minimize waste
3.6. Manage Financial Risk: To avoid catastrophic failure or losses
3.7. Acquire, maintain, and deploy fixed assets: Maximize the value of capital
assets.
3.8. Evaluate unit performance toward Mission accomplishment: Continual
evaluating of resource application effectiveness
Common Information Quality Issues
A
■n
most significant IQ problem Root Cause in Financial Management is
managing to the quarterly or annual Financial Statements instead of to the
Mission Statement. Focus on short-term ...
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Publisher Resources

ISBN: 9780470134474Purchase book