Value Management Framework

Question 1

Name the 5 Value Pools

Answer 1

1. Efficiency
2. Accuracy
3. Compliance
4. Tech Utilization (Innovation)
5. Sustainability

Question 2

What will we achieve from Efficiency and Accuracy?
Why is this important to the Church?

Answer 2

What: Optimizing productivity by implementing streamlined accounting processes and reducing manual effort.
Why: Ensuring simplicity of financial processes and improving employee experience.

Question 3

What will we achieve from Accuracy?

Answer 3

What: improved tracking and early detection of errors.
Why: increased transparency, accountability of financial data.

Question 4

What will we achieve from Compliance?

Question 5

What will we achieve from Tech Utilization?

Question 6

What are the 7 (+1) Process Areas?

Answer 6

A2R - Acquire to Retire
I2C - Invoice to Cash
I2P - Invoice to Pay
P2B - Plan to Budget
P2C - Project to Close
R2R - Record to Report
S2P - Source to Pay

+1 - H2R - Hire to Retire

Question 7

What 2 other terms are interchangeable with “Process Area”?

Answer 7

Workstream or Value Stream

Question 8

What is the Plan to Budget (P2B) Process Area Objective?

Answer 8

Improve budget visibility and performance while streamlining the annual budget and appropriation request processes by optimizing master data, leveraging Oracle capabilities, and implementing enhanced program-level reporting.

Question 9

What are the stated underlying goals for Plan to Budget (P2B)?

Answer 9

1 - Monitor budget performance against appropriations and cash flow budgets in a single system  
2 - Enhance analysis of budget performance by adding more dynamic BRD translation capabilities
3 - Use common master data structures to produce automated program-level reporting 
4 - Automate the standardized inputs across departments

Question 10

What are the 4 Key Results for Release1a?

Question 11

What Workstreams primarily use CFIS?

Answer 11

I2P, I2C, S2P

Question 12

What Workstream primarily uses BRASS?

Answer 12

A2R

Question 13

Match Requisition, Journals, Budgets, Projects, Invoice, Assets, and Receivable with I2P, I2C, R2R, A2R, P2B, P2C, and S2P

Answer 13

S2P - Requisition
I2P - Invoice
I2C - Receivable
P2B - Budget
A2R - Assets
P2C - Projects
R2R - Journals

Question 14

What is CFIS?

Answer 14

Church Financial Information System - custom PeopleSoft General Ledger system with numerous workflows to account for transactions and budgets across the Church.

Question 15

What is BRASS?

Answer 15

Budget Request and Submittal System - system used for budget management and tracking

Question 16

What is CUBS?

Answer 16

Church Unit Banking System - manages donations and expenses at the local ward and stake levels within the Church, providing a standardized platform for financial operations.