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Budget Variation Report Example

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Introduction:

Max Lionel realty was established in 2008 by property developer max Lionel. Through its client agents, the organization manages property sales and rentals on behalf of a range of clients. This organization also separately engages in investment activities, such as property and land development. Max Lionel conducts day-to-day operations to achieve company strategic objectives.

  • Engaging with customers and clients
  • Building goodwill and reputation for integrity
  • Supporting innovation thinking, management and leadership skills
  • Creating a high performing and highly profitable organization

Project Title:

Comply with legal and ethical obligation and building customer goodwill.

Budget Variation Report:

The purpose of a "Variance Report" as shown below is to identify differences between the planned financial outcomes (the Budget) and the actual financial outcomes (The Actual). The difference between Budget and Actual is called the 'Variance".

Income

Budget

Actual

% Variation

Stage 1

$ 7,500

$ 7,500

0 %

Stage 2

$ 7,500

$ 7,500

0 %

Total Income

$ 15,000

$ 15,000

0 %

Expense

Design

$800

$ 650

-$150 and 16.25 %

Development

$2,000

$ 2,200

$200 and 10 %

Premises expenses

$2,000

$ 1,500

- $500 and 25 %

Wages, salaries

$5,500

$ 5,400

- $100 and 1.82 %

Communication expenses

$1,500

$1,600

$100 and 6.67 %

Offices supplies

$1,200

$ 1,300

$100 and 8.33 %

Subtotal

$13,000

$ 12,750

- $250 and 1.92 %

Contingency (10%)

$ 2,000

$1,950

- $50 and 2.5 %

Total Expenses

$15,000

$ 14, 600

- $400 and 3 %

Handover Report:

The handover report is used to formally confirm if work or performance were delivered to the customer. Mostly it is a confirmation of the actual delivery of work that is then accessible to the clients or customers.

Handover Report

Initial Overall objectives

This project is to complying with legal and ethical obligation and to achieve the goodwill of the client. Purpose of this project is to improve client focus and integrity to work under good environment and in a good team.

Agreed changes to objectives

Nil Change to objectives

Final agreed deliverable

Item

Budgeted Cost

Final cost

Final date

Initiation of the project

$3000

$2700

05/02/2016

Plan the project

$3000

$2900

20/02/2016

Implementation of the project

$3000

$3200

29/02/2016

Monitoring of the project

$3000

$3000

28/03/2016

Reviewing the project

$3000

$3100

11/04/2016

Issues summary

Item

Strategy

Date logged

Date resolved

Nil issue

Document attached

No.

Title

1.

Budget variance report

2.

Post-project review report

Project Title: Comply with legal and ethical obligation and building customer goodwill.

Project Manager: Mr. Y

Project Sponsor: Max Lionel

Date: 17/04/2016

Version: 1

Post-project Review Meeting:

Post-Project Review Meeting - Agenda

Topic

Speaker

Time

Brief overview of project:

This project is to complying with legal and ethical obligation and to achieve the goodwill of the client. Purpose of this project is to improve client focus and integrity to work under good environment and in a good team.

The project has been completed now and main objectives have been achieved. All organizational staff including agents etc., clients and tenants are now aware of organization's legal and ethical obligations.

Project Manager

5 mins

Review by team:

Goals, objectives, deliverables, schedule, budget, and success criteria that are attached already.

All

10 mins

What worked/what could have gone better?

Project planning, project management,

Project scheduling and tracking, project estimating,

Communication, risk management, vendor management,

Issues management, stakeholder management, resourcing,

Development approach, training, documentation, technology,

Overall approach to project and production and operation support.

All

25 mins

Lessons Learned

All

10 mins

Next Steps

All

5 mins

Post - Project Review Report:    

Post - Project Review Report

Name of project: Comply with legal and ethical obligation and building customer goodwill

Date and location of meeting: 17/04/2016 at Conference room

Name of attendees: All team members

1.Overview by Project Manager:

This project is to complying with legal and ethical obligation and to achieve the goodwill of the client. Purpose of this project is to improve client focus and integrity to work under good environment and in a good team.

The project has been completed now and main objectives have been achieved. All organizational staff including agents etc., clients and tenants are now aware of organization's legal and ethical obligations.

2. Review by team of goals, objectives/deliverables and schedule as outlined in project plan

Met

Missed

Partially met

Project goals

Objectives/deliverables

Success criteria

Schedule

Budget

3. What worked well; what could have gone better?

4. Lessons learned

5. Next Steps:

Project Sponsor: Max Lionel

Project Manager: Mr. Y

Finally, the project has been completed successfully. All the staff of Max Lionel Realty including agents etc., clients and tenants are now aware of legal and ethical obligation. The organization is now comply with legal and ethical obligation and build customer goodwill.


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