| A | B |
|---|
| budgets | agreed plans for expenditure covering programmes of work in your area |
| corrective action | action taken to match actual expenditure to budget, such as altering activities, rescheduling expenditure, altering budget allocations and renegotiating budgets |
| expenditure | outlay for the supplies of goods and services, for personnel, overheads, capital equipment and premises |
| monitoring | keeping a close eye on activities and expenditure and comparing |
| organisational objectives | clearly defined and measurable results which your |
| organisational requirements | the policies, guidelines and procedures of your organisation which you must observe when recommending and monitoring expenditure |
| plans | documents, or spoken agreements, which describe the work to be carried out, when, by whom, to what standard and with what resources, in order that requirements and objectives can be met |
| relevant people | team members, colleagues working at the same level as yourself, higher-level managers or sponsors, specialists and people outside your organisation |
| significant variations | substantial differences between actual and budgeted expenditure, which require action in order to maintain overall performance |
| team members | people who work with you as part of a functional or project team; team members may report to you either as their line manager or as the manager in charge of a specific project or activity on which they are working |
| trends and developments | changes, for instance trends and developments in the market, in technology, in products and services or in processes or working practices, which indicate the future level of expenditure required |
