ProgramsBusiness in Action Fall 2023 (Collum)ProjectsPredictive Financial Model (with Focus on Personnel)

Project Title: Predictive Financial Model (with Focus on Personnel)

Plano Area Alliance Supporting Student Success (PAASSS)

Details
Project Title Predictive Financial Model (with Focus on Personnel)
Project Topics Data Management Operations Reporting, Financial Planning & Analysis
Skills & Expertise
Project Synopsis: Challenge/Opportunity
PAASSS (Plano Area Alliance Supporting Student Success) faces the challenge of optimizing its financial resources while pursuing growth in community impact. The organization aims to develop a predictive financial model that highlights the significance of personnel management.

The challenge involves managing finite financial resources efficiently as PAASSS expands its services to reach more families and students. At the same time, ensuring a skilled and dedicated personnel team is vital for delivering high-quality support.

A predictive financial model with a personnel focus will enable PAASSS to make informed decisions about staffing, training, and talent retention, enhancing its ability to fulfill its mission while maintaining financial stability and scalability. This model will offer forward-looking insights to anticipate financial needs and personnel requirements as PAASSS continues to grow and provide impactful services to the community.

In summary, this project provides PAASSS with the opportunity to align financial prudence with personnel management, fostering growth, efficiency, and lasting community impact.
Project Synopsis: Activities/Actions Required
  • Conduct a comprehensive review of PAASSS's mission, values, and alignment with community needs.
  • Perform a needs assessment to identify specific challenges faced by families in the Plano area.
  • Evaluate the existing financial planning processes in place.
  • Identify and categorize the primary sources of revenue for PAASSS.
  • Analyze historical financial data, including revenue and expenses.
  • Document the major expenses related to community programs and personnel.
  • Develop a basic financial projection model considering historical trends and growth factors.
  • Integrate personnel cost projections into the financial model.
  • Develop a responsive financial model including detailed data on personnel-related expenses, including salaries and benefits.
  • Analyze the impact of personnel expenses on the financial sustainability of community programs.
  • Refine and finalize assumptions within the financial model.
  • Adjust the financial model to align with PAASSS's community-focused goals.
  • Develop recommendations to optimize personnel allocation for maximum community impact.
  • Consider the implications of these recommendations on the financial model's assumptions.
Project Synopsis: Expected Results
  • A successful project will be characterized by an accurate predictive financial model that incorporates personnel costs.
  • We aim to have a clear understanding of personnel-related expenses based on different levels of revenue performance
  • The model should also enable better decision-making and resource allocation in line with our strategic plan.

Project Timeline

Touchpoints & Assignments Date Type

Presentation #1

Sep 20 2023, 08:00 AM EST (UTC-05:00) Action Item

Final Presentation

Oct 16 2023, 20:00 PM EST (UTC-05:00) Project Milestone

Program Managers

Name Organization
Jacie Collum Northern Illinois University (NIU)