Administer refers to the management actions of planning, directing, budgeting, and implementing necessary to achieve organizational objectives. It involves activities such as managing resources, overseeing projects, and ensuring efficient operations.
Administrative skills encompass a wide range of essential organizational and technical skills vital for efficient office management and productivity. These skills include planning, organizing, staffing, scheduling, and proficiency in various computer software.
Corporate modelling involves the use of simulation models to assist the management of an organization in planning and decision-making. A budget is a quintessential example of a corporate model.
Engineered costs involve calculating expected expenditures for a production process by constructing synthetic costs based on detailed analysis and logical considerations. This method is often used in standard costing, budgeting, and planning where estimated unit costs are necessary before production.
A Gantt chart is a bar chart that represents a project schedule and shows the start and finish dates of various elements of a project. It is a useful tool for project management and planning.
Managing involves administering an organization's activities to achieve particular objectives. It includes planning, organizing, leading, and controlling resources.
Management accounting involves techniques used to collect, process, and present financial and quantitative data within an organization to aid in performance measurement, cost control, planning, pricing, and decision making. The Chartered Institute of Management Accountants (CIMA) is the major professional body for management accountants in the UK.
A Management Information System (MIS) is a structured system providing comprehensive organizational information to management for decision making in areas such as control, operations, and planning. It relies heavily on a robust data management system, including a database that assists in accurate and rapid decision-making.
Managerial accounting is the practice of using financial accounting records as basic data to enable better business planning and decision-making. It is designed to aid in decision-making, planning, and control within a business organization.
Network analysis is a method used in project management to plan and control complex projects. It helps in identifying optimum workflows, minimizing bottlenecks, and ensuring timely project delivery.
An organized sequence of predetermined actions that management has chosen to complete future organizational objectives.
A budgeting system developed particularly for use in non-profit organizations, such as national and local government. The system is based on the grouping together of activities with common objectives and a long-term plan relating to the objectives of the organization as a whole, which is subdivided into programs. Conventional annual expenditure budgeting procedures are applied within this framework.
PPBS is a comprehensive management framework used by organizations to integrate planning, programming, and budgeting processes to align resources with objectives and facilitate better decision-making.
A planning and control technique to minimize interruptions and/or delays in a process with interrelated functions. PERT is used to assist in reducing the time required for completion of a project.
Resources include money, people, time, and equipment necessary for any organization. Resource allocation is a key part of a manager's decisional roles.
The term 'schedule' can have several different meanings within the context of accounting, tax legislation, and planning. In the UK, it is used extensively in tax legislation and accounting practices.
Scheduling is the process of planning and deciding the timetable of events, including when and where certain activities will take place. It is a crucial aspect of time management and resource allocation across various fields such as project management, operations, transportation, and personal planning.
In planning and budgeting, strategic misrepresentation involves knowingly understating costs and overstating benefits to secure project approval. Distinct from optimism bias, it is a deliberate policy often justified as part of the negotiation process.
Time management refers to the process of planning and controlling how much time to spend on specific activities to achieve maximum productivity, efficiency, and effectiveness.
