Operational Workbook
An operational review evaluates management's conformity with plans and resource allocations, organizational structure, operating procedures, processes, and controls. In today's volatile marketplace, organizations must do everything possible to ensure their operations are running most economically and effectively to maximize desired results. In such a competitive environment, operational reviews have become increasingly important. The Operational Review Workbook not only gives readers a better...
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Practical, proven tools for conducting successful operational reviewsAn operational review evaluates management’s conformity with plans and resource allocations, organizational structure, operating procedures, processes, and controls. In today’s volatile marketplace, organizations must do everything possible to ensure their operations are running most economically and effectively to maximize desired results. In such a competitive environment, operational reviews have become increasingly important. The Operational Review Workbook not only gives readers a better understanding of the concepts behind operational reviews but also enables them to conduct reviews with more confidence and authority.A companion to Rob Reider’s Operational Review: Maximum Results at Efficient Costs, Third Edition, the Workbook explains the benefits of a review and offers step-by-step guidance through its various stages. In addition to the author’s incisive analysis, this practical guide:Includes case studies, checklists, forms, and exercisesReinforces the fundamental principles necessary to perform an operational reviewPresents in a step-by-step manner how an operational review should be performedShows how to judge a review’s results and make recommendations to managementDemonstrates how to use tools and techniques such as financial statement analysis, verification of data accuracy, determination of compliance with laws and regulations, development and understanding of ratio change and trend analysis, use of systems and layout flowcharts, effective interviewing techniques, and preparation and use of survey forms, questionnaires, and checklistsIntegrates operational review concepts with other analytical processes such as benchmarking strategies and activity-based costing principlesThe Operational Review Workbook delivers all the tools needed to successfully conduct an operational review of the organization, department, or activity. CEOs, operations management and staff, internal and external consultants and auditors, CFOs and controllers, and other organizational stakeholders will find Reider’s incomparable guide an invaluable addition to their professional libraries.
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PrefacexiIntroductionxiiiChapter 1Overview of Operational Reviews1Stakeholders2Why Businesses Are in Existence3Businesses a Company Is Not In4Some Basic Business Principles5Criteria for Organizational Growth7Mental Models and Belief Systems7Organizational Criteria Example9Economy, Efficiency, and Effectiveness12Specific Objectives13Specific Purposes15Benefits of Operational Reviews16Operational Review Phases17Operational Review Engagement Development18What Functions to Review19Initial Survey22Case Study: Joe Sorry, Inc.22Case Situation: Leasing Insurance Costs48Review Questions55Suggested Responses55Chapter 2Planning Phase59Information to Be Obtained60Sources of Information60Review of Organizational Planning and Budget Systems61Organizational Structure and the Role of Management62Planning Phase Work Program63Case Study: Joe Sorry, Inc., Planning Phase63Case Situation: Purchase Order Quantity Tolerances88Review Questions96Suggested Responses100Chapter 3Work Program Phase102Benefits of the Operational Review Work Program103Work Program Work Steps103Engagement Control105Case Study: Joe Sorry Company, Work Program Phase123Case Study Situation: Defective Merchandise Returns124Case Study Situation: Equipment Maintenance Review130Review Questions132Suggested Responses133Chapter 4Field Work Phase135Field Work Techniques136Specific Field Work Techniques137Work Papers161Case Study: Joe Sorry Company, Field Work Phase162Case Situation: Clerical Procedures196Review Questions197Suggested Responses197Chapter 5Development of Review Findings200Operational Review Finding Attributes201Operational Review Criteria Standards202Some Possible Types of Causes203Effects of Operational Review Findings: Possible Indicators204Review Findings Development Checklist206Case Study: Joe Sorry Company, Development of Findings207Case Study: Finished Goods Shipments228Case Situation: Shipping and Receiving Procedures237Case Situation: Accounts Receivable and Collections238Review Questions240Suggested Responses240Chapter 6Reporting Phase243Characteristics of Good Reporting244Examples of Reporting Operational Review Results244ABCs of Effective Report Writing247Case Study: Joe Sorry Company, Reporting Phase248Review Questions283Suggested Responses283
