...ASSET MANGEMENT: A FRAME WORK FOR THE PUBLIC SECTOR Objective of presentation This Framework has been designed to assist people who manage agencies and other authorities to adopt best practices for asset management. These processes may vary to accommodate individual circumstances, but in each instance the objective is to achieve the best use of our assets for the benefit of all the stakeholders. What are Assets? The assets may be natural resources, building structures, land, plant and equipment, heritage and cultural assets, or any other form of infrastructure. It includes physical resources, like roads, telecommunication networks, schools, hospitals and road networks. Financial information and human resources, including intellectual property, are not included in this essay. What is Asset management? “Asset Management is a process of guiding the initiation, acquisition, use and maintenance, and disposal of assets, to make the most of their service delivery potential and manage the related risks and costs over the full life of the assets.” KC Leong, 2004, The Essence of Asset Management. A second definition reads thus: Asset management is the process of creating value within the owner’s objectives through acquisition, use and disposal of assets. Gordon MacNair, 2010. In the second definition the owners objectives is an essential ingredient of the Asset management hence getting it right involves the activation of the organisations strategic objectives. Asset Management...
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...MacMillan Executive Summary * Successful executives will learn to master uncertainty through the skills of entrepreneurial leadership * This calls for different disciplines than in conventional management * There are five key elements: * Creating a climate supporting continuous search for opportunity * Framing * Stocking an opportunity register * Focus * Promoting adaptive execution Entrepreneurial leadership: The most important job Although uncertainty might cause many to freeze, it can be used to your benefit. Uncertain situations are full of new opportunities. Your task is to continuously identify high-potential business opportunities and exploit these opportunities with speed and confidence. Thus, uncertainty can become your ally, not your enemy. Entrepreneurial leaders are distinguished from other managers by their personal practices. These fall into three categories: setting the work climate, orchestrating opportunity-seeking and moving particular ventures forward personally. * Climate setting practices create a pervasive sense of urgency for everyone to work on new business initiatives. Dedicate a disproportionate share of your own time, attention and discretionary resources to finding and supporting new business models. Gary Wendt, who drove massive growth at General Electric Financial Services, demonstrated this principle. He consistently, predictably made new business development his top priority agenda item...
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...The Purchases System: Segregation of Duties There appear to be several segregation of duties problems at Santa’sAttic.com that are the cause of many of the current problems that the company is experiencing. The first of these has to do with the lack of a purchasing department within the organization. The warehouse is currently responsible for reviewing the inventory records, the decision to purchase additional inventory, and maintaining and updating the actual inventory records. This violates the segregation of duties rules because the purchase is being authorized and carried out by the same person. In addition, the assets are being maintained by the same person who does the record keeping for the assets. If a separate purchasing function were to be created within Santa’sAttic.com’s environment, this could be eliminated. If this were to occur, the warehouse would review the inventory records and request authorization to purchase goods from the purchases department. If goods were needed, purchases would approve this request. Once the goods were purchased, they would be given to the warehouse for keeping. Finally, the warehouse would be responsible for updating the inventory records, once the good had been received. Another segregation of duties problem at Santa’sAttic.com occurs within the accounts payable department. Currently, there is no general ledger department and therefore all updating of the general ledger is done within accounts payable. For this reason, accounts payable...
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...Risk Management- Task 1- Hoke Enterprises, Inc. Tara Johnson A. 2. Risk Description Source Likelihood of Occurrence* Severity of Impact* Controllability* 1. Customer Changes to the brief and/or scope of work contract Low High medium 2. equipment Failure to order on time resources Low High High 3. Interruption to Supply Location to major suppliers must be identified in relation to season, geographic area, & natural disaster. organization high medium medium 4. design Movement of existing structure natural Low Medium medium 5. bid price May be higher than budget allowance. contract low High high 6. financing Failure to secure sufficient revenue to meet operating costs. Economical Low High medium 7. Skill shortage Meeting balance between skilled workforce & demand. social Very high high high 8. licensing To avoid conflicts with community & maintain good reputation in environmental, health, & safety. legislative high high high 3. Risk levels- These should be categorized by the probability of the occurrence and its uncertain impact. The requirements per scalability levels should be set at minimum requirements. The project team may choose to work at a higher scalability level than required or work at a lower level. However, the project team should consider other factors to determine what level of risk management effort is needed. These factors may include: (1) political sensitivity, (2) the type of the project, (3) location of the project and the...
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...there are positive and negative implications to any form of business ownership, these are generally more exaggerated in the instance of sole proprietorship. The ease of formation and ownership and limited regulation are strong benefits, however, the negative aspects are far greater than in any other form of ownership. The first negative ramification is the lack of ability to continue the company after the owner either becomes unable or chooses not to continue the business. This may seem like a minor inconvenience, however, it should be considered if the owner would like to eventually leave a legacy to their heirs. The personal liability of a sole proprietorship is perhaps the largest detriment to this form of ownership, as all the corporate assets and liabilities are directly tied to the entrepreneur. With no separation...
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...An explanation of a Project Charter and its purpose The purpose of a project charter is to collect information on a project and ultimately get approval from the stakeholders to get the project running. The project charter can contain many pieces including the project statement of work, organizational assets and processes for starters. The project charter also is used to decide on the scope of a project and give responsibility (Sanghera, 2010). It is the process of developing a document that formally authorizes a project or a phase and documenting initial requirements that satisfy the stakeholder’s needs and expectations. The project charter is a document that states the initial requirements to satisfy the stakeholders’ needs and expectations, and it also formally authorizes the project which includes naming the project manager and determining the authority level of the project manager. (PMBOK, 2008).The project charter which is an output of the charter process is an input to identifying the stakeholders. When stakeholders have been identified, then a stake holder’s register is created. This is the start of a project management’s road map. Issuing an approved charter moves the project to the following phases: * Initiation- clearly establish why the project is being initiated and specifically what must be accomplished * Defining the project- Identifies customer and states the principal business reasons for instigating a project. * Planning the project- impact...
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...Code of Ethics and Business Conduct Company X, 2013 (Retail Store) Standards & Procedures * Company Assets (Theft) Under no circumstances will theft be prohibited within the company. Employees must purchase products as a client would and are eligible to use their employee discount on whichever product they wish to purchase. Employees who choose to obtain company property without payment of the item will result and lead to termination. Under no circumstances will theft of company profits be tolerated. Employees are to follow proper opening and closing procedures when opening or closing their assigned cash registers throughout the work day. Profits acquired from the employee throughout the day must be deposited at the end of their workshift; all monies must be accounted for. Failure to comply with the opening and closing procedures of an employee’s cash register will lead to termination. * Proprietary Information: Customer Under no circumstances shall employees broadcast, distribute or communicate customer information to anyone other than the customer themselves. Customer information such as addresses, purchases, phone numbers, names, etc. should not be distributed without written consent of the customer. It is extremely important that all employees of Company X respect the privacy rights of others and not engage in unauthorized use or distribution of customer property. Employees are able to distribute information to others with consent of the customer...
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...Management (EVM). It is a structured approach to planning, cost and performance measurement. The fundamental principle is that it integrates time, scope and cost objectives to provide a quantitative assessment of the present project status and its likely future performance. This method also highlights potential issues and can enable the Project Manager to make informed decisions to take corrective action(s). Before EVM can be effectively applied to projects, certain elements need to be in place first. ▪ Work Breakdown Structure / Organisation Breakdown Structures: The WBS and OBS define the work to be done on the project and who will do it. ▪ Baseline Plan / Budget: The time-phased budget for the project will provide the primary baseline against which progress and expenditure will be measured. ▪ Status Updates: Performance data relating to project costs and progress must be accurate and provided in a timely fashion. ▪ Forecasts: Estimates of the remaining work and expenditure also needs to be provided. ▪ Change Control Process: A well-defined baseline will provide a firm basis for assessing the impact of changes to the agreed scope, time and cost baselines and whether any change will result in updates to the baseline. In addition to assessing the current health of the project, as mentioned...
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...1. 1. Approximately what percentage of the wortd's gross domestic product is spent on projects? a. 10 percent b. 25 percent c. 50 percent d. 75 percent b. 25 percent 2. 2. Which ofthe following is a I'IOt a potential advantage of using good projectmanagement?a. Shorter developmenttimesb. Higher workermoralec. Lower cost of capitald. Higher profitmargins c. Lower cost of capital 3. 3. A ___ is a temporary endeavor undertaken to create a unique product, service, or result. a . program b process c. project d . portfolio c. project 4. 4. Which of the following is not an attribute of a project? a. projects are unique b. projects are developed using progressive elaboration c. projects have a primary customer or sponsor d. projects involve little uncertainty d. projects involve little uncertainty 5. 5. Which of the following is not part of the triple constraint of project management? a. meeting scope goals b. meeting time goals c. meeting corrmunications goals d. meeting cost goals c. meeting corrmunications goals 6. 6 . ___ is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. a. Project management b. Program management c. Project portfolio management d. Requirements management a. Project management 7. 7. Project portfolio management addresses ___ goals of an organization, while project management addresses ___ goa • . a. strategic, tactical b. tactical, strategic c....
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...1. 1. Approximately what percentage of the wortd's gross domestic product is spent on projects? a. 10 percent b. 25 percent c. 50 percent d. 75 percent b. 25 percent 2. 2. Which ofthe following is a I'IOt a potential advantage of using good projectmanagement?a. Shorter developmenttimesb. Higher workermoralec. Lower cost of capitald. Higher profitmargins c. Lower cost of capital 3. 3. A ___ is a temporary endeavor undertaken to create a unique product, service, or result. a . program b process c. project d . portfolio c. project 4. 4. Which of the following is not an attribute of a project? a. projects are unique b. projects are developed using progressive elaboration c. projects have a primary customer or sponsor d. projects involve little uncertainty d. projects involve little uncertainty 5. 5. Which of the following is not part of the triple constraint of project management? a. meeting scope goals b. meeting time goals c. meeting corrmunications goals d. meeting cost goals c. meeting corrmunications goals 6. 6 . ___ is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. a. Project management b. Program management c. Project portfolio management d. Requirements management a. Project management 7. 7. Project portfolio management addresses ___ goals of an organization, while project management addresses ___ goa • . a. strategic, tactical b. tactical, strategic c....
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...experts believe that current water resources supply will not sustain global demand by 2030 and demand will outweigh supply by at least 40%, highlighting Africa as a region set to be hardest hit. The reliability and sustainability of Water Distribution Systems and Networks is now more than ever before are survival imperative to the achievement of Millennium Development Goals (MDG’s) in Africa and the transformation of the African Diaspora. Water supply and sanitation services, believe it or not, have the greatest impact on the eradication of hunger and poverty, reducing child mortality, increasing basic literacy in Africa and creating more jobs through sustainable economic development. Join us at this topical and highly practical programme. Register Now!! Just A Few Reasons Why You Need To Attend This Highly Informative and Interactive Event There are prevalent backlogs in water infrastructure development and maintenance shortfalls are to be on-going. Current infrastructure is ageing and reaching its’ serviceable lifespan There are insufficient...
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...Internship Report On NGO Accounting Practices in Bangladesh-A Case Study on BRAC Submitted to: Dr. Mahfuzul Hoque Professor Department of Accounting & Information Systems Faculty of Business Studies University of Dhaka Submitted by: Syeda Marzana Farha Roll No-11097 M.B.A. 11th batch Department of Accounting & Information Systems [pic] University of Dhaka CHAPTER 1 Introduction 1.1 Background The internship program is a pre-requisite for the MBA degree from the Faculty of Business Administration, University of Dhaka. In today’s world, education is the imperative tool for understand the real world and apply knowledge for betterment of the society as well as in Business Sector. From the education session the theoretical knowledge is obtained from various courses throughout the programs, which is only the half way of the subject matter. Practical knowledge has no alternative. The perfect coordination between theory and practice is of paramount importance in the context of modern business Graduates to get 12 weeks practical experience, that is Internship Program. Internship program brings student closer to the real life situation and thereby helps to launch a career with some prior experience. Internship is a step towards fulfilling this commitment by giving students an opportunity to get ready for the real world before they enter their practical...
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...Lecture 1 Capital Market and Long Term Finance * Capital Formation (Raise capital to increase their assets and fund working capital) * Markets * Common Stock (long-term security) * Bonds (long-term security) * Derivatives (long-term security) Financial Markets * Exchanges * Specialists (NYSE has SPECIALISTS maintain an orderly market in a stock at a trading station) * Intermediary Firms (NASDAQ has INTERMEDIARY FIRMS maintain a market for a given share * Publicly Traded (Security, corporations register through the FCC) Forms of Ownership * Partnership * Corporation (Shareholders have limited liability of their own share) * Privately Held * Publicly Trade Common Stock: Is a share in the ownership of the firm Issuer Advantages (the company): 1. Beyond the public offering there are no fixed charges. 2. There is not fixed maturity. 3. Common stock increases the credit worthiness of a firm. 4. Common stock can at times be sold more easily than debt. Issuer Disadvantages (the company): 1. Extends voting rights or control to additional stockholders 2. Gives more owners the right to share income. 3. Initial costs of “underwriting” and distribution are higher than bonds. 4. Changes the debt/equity mix of the firm. 5. Dividends are not deductible form taxable income. (why isn’t dividends a deductible for companies) Investor Advantages (the individual): 1. Participate in growth of firms...
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...The Revenue System of The Seafood Seasonings of Smith Island Company COMPANY BACKGROUND The Seafood Seasonings of Smith Island Company (SSoSI) of Norfolk, Virginia provides a variety of seafood spices and sauces for steaming shellfish, seasoning fish and shellfish after cooking, creating seafood dips, and mixing fish and shellfish “cakes.” SSoSI was founded in 1995 by Antonia Lipton, the Owner and Chief Operating Officer (OCOO). Ms. Lipton started the Company from her kitchen in Virginia Beach, Virginia using spice recipes handed down by her great grandmother, a long-time resident of Smith Island, Maryland. The OCOO’s first clients were friends and neighbors in Virginia Beach. Ms. Lipton charged a fair price for a quality product so Company sales grew quickly from word-of-mouth reviews by the neighbors. Two Norfolk, Virginia restaurant Owners became aware of SSoSI's products and began to use the seasonings at their restaurants. Ms. Lipton learned a great deal about the food supply business from these clients. This early success made the OCOO realize there was potential for the Company to grow much larger. To that end, Ms. Lipton established a website and presence on Facebook and Google+ for SSoSI. By the end of the first year of operation, the OCOO moved the operation from the kitchen to her two-car garage and incorporated SSoSI in Virginia. Ms. Lipton began going to food trade shows to market SSoSI’s products. The trade shows not only allowed the OCOO to...
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...A Project Study Report On Training Undertaken at HDFC Bank Ltd Titled RETAIL LOAN & PARA BANKING PRODUCT IN HDFC BANK LTD. Submitted in partial fulfillment for the Award of degree of MASTER OF BUSINESS ADMINISTRATION |Submitted by |Submitted to | |Abhimanyu Singh Rathore |Mrs. Dhwani Mishra | |MBA Part IV |Faculty Member | 2007-2009 IILM Academy Of Higher Learning, Jaipur Campus (Affiliated to the University of Raj. & Raj. Technical University, Approved by AICTE, Ministry of HRD, Govt. of India) Preface It’s my pleasure and delight to bring out a comprehensive and concise study in organization about RETAIL BANKING System. This study will help in identifying the strength and weakness of the BANKING and also working a quick comparison with ICICI Bank. It will help in taking strategic decision. I’m highly grateful to Mr. Amit Sharma and my helping co trainees. There are innumerable persons who have contributed in brining out this study report of Banking System in India with Specific reference to HDFC Bank Ltd. Acknowledgement I express my sincere thanks...
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