Price Variance Toolkit

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Record manufacturing overhead costs for each department

 

How much was your organizations material Price Variance?

Is the spending variance the same as the direct materials Price Variance?

What was your organizations materials efficiency variance?

What is the relationship between the sales volume variance and the production volume variance?

How much of the raw material should your organization purchase during the year?




...Find the answers to these, and more, questions with this Price Variance Toolkit:

  • Record direct labor costs for each production department.
  • Record direct materials costs for each production department.
  • Record transferred in costs for each department.
  • Summarize the costs that are used to calculate the cost per equivalent unit.
  • Record the costs associated with units completed and transferred out.
  • Close the manufacturing overhead account when the amount is material.
  • Close the manufacturing overhead account.
  • Change the new budget FTEs on the COST CENTER FTE screen.
  • Sustain your ability to change and improve.



HOW THIS TOOLKIT WORKS:

Save time, empower your teams and effectively upgrade your processes with access to this practical Price Variance Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Price Variance related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Price Variance specific requirements:


STEP 1: Get your bearings

Start with...

  • The latest quick edition of the Price Variance Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.

Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…

  • Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation

Then find your goals...


STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 996 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Price Variance improvements can be made.

Examples; 10 of the 996 standard requirements:

  1. When organization managements can be ready to serve better inventory reliability of its information during monthly financial stability of understanding outcomes in that meet budgeted direct material?

  2. What are the advantages and weaknesses of the contribution format income statement relative to the traditional format income statement as a budgeting tool?

  3. Which is the most probable reason why your organization would experience an unfavorable labor rate variance and a favorable labor efficiency variance?

  4. Which is the most probable reason your organization would experience an unfavorable labor rate variance and a favorable labor efficiency variance?

  5. Are the profits adequate to meet the returns required by the providers of capital, for the maintenance of the business and to provide for growth?

  6. When standard costs are used in a process costing system, how, if at all, are equivalent units involved or used in the cost report at standard?

  7. What was the actual price paid for the direct material during the month, assuming all materials purchased were put into production?

  8. Which costs are irrelevant for a special order that will allow your organization to utilize some of its present idle capacity?

  9. Can the user determine whether an invoice will be subject to withholding tax from the status of the invoice prior to payment?

  10. Which variance will be unfavorable due to employees working more hours than allowed for the actual number of units produced?


Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:

  • The workbook is the latest in-depth complete edition of the Price Variance book in PDF containing 996 requirements, which criteria correspond to the criteria in...

Your Price Variance self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:

  • The Self-Assessment Excel Dashboard; with the Price Variance Self-Assessment and Scorecard you will develop a clear picture of which Price Variance areas need attention, which requirements you should focus on and who will be responsible for them:

    • Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix
    • Gives you a professional Dashboard to guide and perform a thorough Price Variance Self-Assessment
    • Is secure: Ensures offline data protection of your Self-Assessment results
    • Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:

 

STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Price Variance projects with the 62 implementation resources:

  • 62 step-by-step Price Variance Project Management Form Templates covering over 1500 Price Variance project requirements and success criteria:

Examples; 10 of the check box criteria:

  1. Lessons Learned: What were the most significant issues on this Price Variance project?

  2. Lessons Learned: What were the main sources of frustration in the Price Variance project?

  3. Procurement Audit: Did your organization state the minimum requirements to be met by the variants in the tender documents?

  4. Executing Process Group: What factors are contributing to progress or delay in the achievement of products and results?

  5. Activity Duration Estimates: Are performance reviews conducted regularly to assess the status of Price Variance projects?

  6. Team Member Status Report: Are the products of your organizations Price Variance projects meeting customers objectives?

  7. Probability and Impact Assessment: What kind of preparation would be required to do this?

  8. Procurement Audit: Is there an approval policy in which the final cost of an order exceeds the amount originally estimated on the requisition or purchase order?

  9. Planning Process Group: Explanation: is what the Price Variance project intents to solve a hard question?

  10. Team Performance Assessment: How do you encourage members to learn from each other?

 
Step-by-step and complete Price Variance Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:

  • 1.1 Price Variance project Charter
  • 1.2 Stakeholder Register
  • 1.3 Stakeholder Analysis Matrix


2.0 Planning Process Group:

  • 2.1 Price Variance project Management Plan
  • 2.2 Scope Management Plan
  • 2.3 Requirements Management Plan
  • 2.4 Requirements Documentation
  • 2.5 Requirements Traceability Matrix
  • 2.6 Price Variance project Scope Statement
  • 2.7 Assumption and Constraint Log
  • 2.8 Work Breakdown Structure
  • 2.9 WBS Dictionary
  • 2.10 Schedule Management Plan
  • 2.11 Activity List
  • 2.12 Activity Attributes
  • 2.13 Milestone List
  • 2.14 Network Diagram
  • 2.15 Activity Resource Requirements
  • 2.16 Resource Breakdown Structure
  • 2.17 Activity Duration Estimates
  • 2.18 Duration Estimating Worksheet
  • 2.19 Price Variance project Schedule
  • 2.20 Cost Management Plan
  • 2.21 Activity Cost Estimates
  • 2.22 Cost Estimating Worksheet
  • 2.23 Cost Baseline
  • 2.24 Quality Management Plan
  • 2.25 Quality Metrics
  • 2.26 Process Improvement Plan
  • 2.27 Responsibility Assignment Matrix
  • 2.28 Roles and Responsibilities
  • 2.29 Human Resource Management Plan
  • 2.30 Communications Management Plan
  • 2.31 Risk Management Plan
  • 2.32 Risk Register
  • 2.33 Probability and Impact Assessment
  • 2.34 Probability and Impact Matrix
  • 2.35 Risk Data Sheet
  • 2.36 Procurement Management Plan
  • 2.37 Source Selection Criteria
  • 2.38 Stakeholder Management Plan
  • 2.39 Change Management Plan


3.0 Executing Process Group:

  • 3.1 Team Member Status Report
  • 3.2 Change Request
  • 3.3 Change Log
  • 3.4 Decision Log
  • 3.5 Quality Audit
  • 3.6 Team Directory
  • 3.7 Team Operating Agreement
  • 3.8 Team Performance Assessment
  • 3.9 Team Member Performance Assessment
  • 3.10 Issue Log


4.0 Monitoring and Controlling Process Group:

  • 4.1 Price Variance project Performance Report
  • 4.2 Variance Analysis
  • 4.3 Earned Value Status
  • 4.4 Risk Audit
  • 4.5 Contractor Status Report
  • 4.6 Formal Acceptance


5.0 Closing Process Group:

  • 5.1 Procurement Audit
  • 5.2 Contract Close-Out
  • 5.3 Price Variance project or Phase Close-Out
  • 5.4 Lessons Learned

 

Results

With this Three Step process you will have all the tools you need for any Price Variance project with this in-depth Price Variance Toolkit.

In using the Toolkit you will be better able to:

  • Diagnose Price Variance projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices
  • Implement evidence-based best practice strategies aligned with overall goals
  • Integrate recent advances in Price Variance and put process design strategies into practice according to best practice guidelines

Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Price Variance investments work better.

This Price Variance All-Inclusive Toolkit enables You to be that person.

 

Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.





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CONTENTS:


Checklists:


Checklists:Price Variance Checklist Report on ORGANIZATION.pdf

Checklists:Price Variance Checklist Report on STANDARD.pdf

Checklists:Price Variance Checklist Report on INFORMATION.pdf

Checklists:Price Variance Checklist Report on SYSTEM.pdf

Checklists:Price Variance Checklist Report on VARIANCE.pdf

Checklists:Price Variance Checklist Report on MANAGEMENT.pdf

Checklists:Price Variance Checklist Report on PRODUCT.pdf

Checklists:Price Variance Checklist Report on MANAGERS.pdf

Checklists:Price Variance Checklist Report on BUDGET.pdf

Checklists:Price Variance Checklist Report on PRICE.pdf



STEP 1 Get your bearings:


STEP 1 Get your bearings:Price Variance Self-Assessment Pre-Filled EXAMPLE.xlsx

STEP 1 Get your bearings:Price_Variance_Quick_Exploratory_Self-Assessment_Guide.pdf





STEP 2 Set concrete goals tasks dates and numbers you can track:


STEP 2 Set concrete goals tasks dates and numbers you can track:Price Variance Self-Assessment.xlsx

STEP 2 Set concrete goals tasks dates and numbers you can track:Price_Variance.pdf

..and the Project Management resources in 'STEP 3: Implement, Track, follow up and revise strategy' as described above.

 

 

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