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PROCESS DESIGN EVALUATION
 Risk Consulting 
 
 FEATURES 
  • Expenditures to be controlled are identified.
  • The best industry practices are adopted for gap analysis.
  • PDE can help organization ascertain whether the design of the process for incoming expenditure is adequate enough.
  • To have business friendly yet robust controls.
  • To sharpen risk focus.
  • To use information technology to standardize control.
  • PDE brings in balance between availability of internal control through efficiency and business produce of the process.
 
 Benifits
  • A Continuous monitoring mechanism is mounted to track the outcome of the exercise.
  • For effective monitoring of financial reporting processes.
  • To ensure proper allocation of cost.

Means Methods and Outcome:
Phase1-System Study
  • Determining the relationship between various processes.
  • Process Boundaries are defined for each process.
  • Various Sub Processes involved are identified.
  • Flow of activity within the Sub process identified.

Phase II – Process Evaluation

  • Existing policy, procedures & practices are studied to obtain an understanding of the current scenario.
  • Walkthrough id done to confirm understanding.

Phase III – Implementation

  • An Integrated process team comprising pf the owner, customer and guardian of the process is formed. Thereafter Measures of Success (MOS) are identified for benchmarking the success of implementation of process.
  • Gap Analysis: The exixtaing procedures will be studied and mapped against the best of industry practices. Any gaps will be segregated into risk categories.
  • Procedure manual: On completion of the evaluation process a detailed procedure manual and an end-to-end gap analysis report for the process is prepared. The highlight of the gap analysis report would be the “As is” flow of activities and suggested "To Be" flow of activities. The procedure manual will have evaluation and recommendations cited using flowcharts, procedures and responsibility matrix.