...PROJECT MANAGEMENT Introduction Many definitions had been given to project by different authors, due to the fact that project is a multidisciplinary word that has different meaning from different perspective and orientations. Engineers, Architects, Managers and so on, have their definitions coined out from their experiences as far as their professions are concerned. Project according to Project Management Institute, PMI, (2006) cited in Pinto (2007) “is a temporary activity or endeavor undertaken purposely to create a unique output (product or service) within budget, time and standards. Turner and Muller (2003) in their own words defined project as “an organization of human materials and financial resources in a novel way, to undertake a unique scope of work, of given specification, within constraints of cost and time, defined by quantitative and qualitative objectives so as to achieve a beneficial change”. The uniqueness of project is pointing to its genuine nature in the sense that there may not be a pre-existing blue print for the project’s execution and there may not be a need to repeat the project once completed. Its goal characteristics may be well perceive as achieving stated objectives or solve a particular problem, while its temporary nature signifies a discrete, definable commencement and conclusion. Project management on the other hand, according to Abbasi and Al-Mharmah (2005) “is the art and science of planning, designing and managing work throughout all the phases...
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...JOURNAL OF PROJECT MANAGEMENT International Journal of Project Management 24 (2006) 587–594 www.elsevier.com/locate/ijproman Role of public private partnerships to manage risks in public sector projects in Hong Kong Li-Yin Shen a a,* , Andrew Platten b, X.P. Deng c Department of Building and Real Estate, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong b Elevate East Lancashire, Accrington, England, UK c School of Civil Engineering, South East University, PR China Abstract The clients of public sector works have an obligation to ensure that the large scale investment in public works is effective and can achieve improvement in social and economic performance. However, construction activity is usually subject to more risk than other business activities because of its complexity particularly in coordinating a wide range of disparate and interrelated skills and activities. This complexity is further compounded in implementing public sector projects where multiple project objectives are expected by a wide range of stakeholders who have different interests associated with the projects. With reference to current practice in Hong Kong, this paper examines the major risks in implementing public sector works, and the ways that the application of public private partnership (PPP) can help to manage risks in project delivery. The example of Hong Kong Disneyland (KDLD) demonstrates how various major risks in committing to a PPP project are allocated and...
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...Portfolio, Programme, Project, Risk and Service Management PRINCE2® Business Benefits Dr. Ian Clarkson, QA White Paper January 2010 2 PRINCE2® Business Benefits Section 1 Introduction As the pace, amount and complexity of change continues to increase, transforming operations so as to achieve a beneficial future state whilst maintaining ‘business-as-usual’ remains the crucial challenge for organizations. This challenge creates a natural tension which, in most cases, always requires more time and money to manage than anticipated. Projects provide the means by which organizations can transform their business operations. Project management, therefore, is the mechanism by which this transformation process is managed. This white paper discusses the business benefits that organizations can attain by adopting a structured, controlled, repeatable and robust project management method. The particular project management method ‘under the spotlight’ in this white paper is PRINCE2®. The content of this white paper is structured as follows. Section 2 discusses what PRINCE2 is and its place within the global project management industry, whereas Section 3 defines exactly what is termed ‘PRINCE2 Business Benefits’. Section 4 ‘makes the case’ as to why formal project management (and, indeed, a structured approach) is needed with Section 5 exploring the business benefits of adopting PRINCE2 from the perspectives of 1) the commercial sector, 2) the public sector, 3) the voluntary (or...
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...RESULTS-BASED PUBLIC SECTOR MANAGEMENT A Rapid Assessment Guide PLAN EVALUATE BUDGET RESULTS MONITOR IMPLEMENT i RESULTS-BASED PUBLIC SECTOR MANAGEMENT A Rapid Assessment Guide © 2012 Asian Development Bank All rights reserved. Published in 2012. Printed in the Philippines ISBN 978-92-9092-838-6 (Print), 978-92-9092-839-3 (PDF) Publication Stock No. TIM124978 Cataloging-In-Publication Data Asian Development Bank Results-based public sector management: A rapid assessment guide. Mandaluyong City, Philippines: Asian Development Bank, 2012. 1. Managing for development results 2. Results-based management 3. Public sector. I. Asian Development Bank. The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB), its Board of Governors, or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. ADB encourages printing or copying information exclusively for personal and noncommercial use with proper acknowledgment of ADB. Users are restricted from reselling, redistributing, or creating...
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...Build-Rent/Lease-Transfer (BRT or BLT), Design-Build-Finance-Operate (DBFO) and Rehabilitate-Operate-Transfer (ROT), outsourcing, delegation of services, management contract, operation and maintenance contract, service contract, operating contract, performance contract and others. However, the terms of PPP and concession will be using interchangeably throughout the entire topic. Basically all those terms refer to one common purpose. The purpose is to establish a method of procurement that brings together the public and the private sectors in a long-term partnership for mutual benefit. The vital feature is that it is intended to achieve both social and commercial goals. When it serve as a long-term solution for offering infrastructure within a country, it would indirectly support sufficient growth and economic benefits for the public. The broader execution of concession can be done to fund transport infrastructure such as highways, tunnels, railway, ports, bridges, railroads, airports and canals transport systems. They are also often used to finance projects in water supply, power generation, sewerage, dams, irrigation and drainage, and to a lesser extent, telecommunications and solid waste management infrastructure. In the case of Malaysia, the Government officially revealed the execution of public projects using the Public Private Partnership (PPP) or Private Finance Initiative (PFI) scheme under the 9th Malaysia Plan. In 2009,...
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...PUBLIC SECTOR: Public sector is an organization which is owned by public authorities including central state or local authorities to an extend of 50% or more. The public sector is that portion of society controlled by national, state or provincial, and local governments. The public sector overlaps with the private sector in producing or providing certain goods and services. The extent of this overlap varies from country to country, state to state, province to province, and city to city. This overlap is most often seen in waste management, water management, health care, security services, and shelters for homeless and abused people. ROLE OF PUBLIC SECTOR IN INDIA: The public sector has been playing a vital role in the economic development of the country. In fact the public sector has come to occupy such an important place in our economy that on its effective performance depends largely the achievement of the country's economic n social goals. Public sector is considered a powerful engine of economic development and an important instrument of self-reliance. The main contributions of public enterprises to the country's economy may be described as follows: * Employment: Public sector has created millions of jobs to tackle the unemployment problem in the country. Public sector accounts for about two-thirds of the total employment in the organised industrial sector in India. By taking over many sick units, the public sector has protected the employment of millions. Public sector...
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...ISSN 1608-7143 OECD JOURNAL ON BUDGETING Volume 5 – No. 3 © OECD 2006 The United Kingdom Private Finance Initiative: The Challenge of Allocating Risk by David Corner∗ Since 1992, the United Kingdom has used a new type of public-private partnership for the delivery of public services: the Private Finance Initiative. In the design of PFI projects, the assessment of risk, and who is best able to manage it, needs to be carefully considered. Using data from government reports and case examples in the British public sector, this article explores aspects of procurement including, among other things, due diligence, public sector comparators, and the consequences of taking back the responsibility for delivering the service (taking back risk). PFI contracts can deliver better value for money than traditional methods of procurement if risks are transferred to the parties best able to handle them. The article concludes with a discussion of guidelines on generally accepted accounting practice and indicators for assessing risk. ∗ David Corner is Director of Corporate Policy in the United Kingdom National Audit Office. This article was originally published as Chapter 3 in Graeme Hodge and Carsten Greve (eds.) (2005), The Challenge of Public-Private Partnerships: Learning from International Experience, Edward Elgar Publishing, Cheltenham, United Kingdom, and Northampton, MA, United States, pages 44-61. Reprinted with permission from the editors and the publisher. OECD JOURNAL ON...
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...Policy Brief: Public and Private Partnerships Executive Summary: Public and Private Partnerships (PPP's) describes the partnership between the Public Sector (Government) and the Private Sector (Business) working together through financing, design, constructions, renovation, management or maintenance of infrastructures to provide public services for citizens. National, state, and local governments worldwide all face tremendous budget gaps and therefore are increasingly adopting Public-Private Partnerships (PPPs) models as a means to provide critical infrastructure service delivery. As Public Administration Students it will be important for us to understand the role of PPP's as well as how to use them efficiently, relevant to Public Financial Management. It will also discuss the social, economical, and political factors that play a role in PPPs. Overall PPP's should be used because they provide much-needed capital for projects; they can also serve as models of efficiency and reliability and be champions of high levels of accountability and transparency. In addition, PPPs can be cost-effective and time efficient. Statement of Issue: How can Governments use PPP's effectively? Improving the delivery of services for "Wicked Problems" is a critical need for many governments. "Wicked Problems" often include emergency policy challenges in transportation, the environment, and health and human services (Battagilo) Background information: PPPs were initiated in the United Kingdom...
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...| | |PROFESSIONAL EXPERIENCE |Credit Program Officer, Millennium Challenge Account-Armenia Program, Foreign Financing Projects Management Center State | | |Institution, Ministry of Finance of the Republic of Armenia, Yerevan, Armenia, February 2012 – current | | |Overall management, oversight and evaluation of implementation of the MCA-Armenia | | |Credit Program (total portfolio 8.5 mln USD), preparation of the reports, memos and other papers on the progress of the Project | | |Review reports, other deliverables and implementation documents developed and submitted by the MCA-Armenia Credit Program | | |implementer | | |Monitoring and analysis of rural financial market development trends, study of the policies for the Rural Financial Market | | |development | | |Consultations and coordination with stakeholders and donors working in the area of rural...
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...ISSN 1608-7143 OECD JOURNAL ON BUDGETING Volume 5 – No. 3 © OECD 2006 The United Kingdom Private Finance Initiative: The Challenge of Allocating Risk by David Corner∗ Since 1992, the United Kingdom has used a new type of public-private partnership for the delivery of public services: the Private Finance Initiative. In the design of PFI projects, the assessment of risk, and who is best able to manage it, needs to be carefully considered. Using data from government reports and case examples in the British public sector, this article explores aspects of procurement including, among other things, due diligence, public sector comparators, and the consequences of taking back the responsibility for delivering the service (taking back risk). PFI contracts can deliver better value for money than traditional methods of procurement if risks are transferred to the parties best able to handle them. The article concludes with a discussion of guidelines on generally accepted accounting practice and indicators for assessing risk. ∗ David Corner is Director of Corporate Policy in the United Kingdom National Audit Office. This article was originally published as Chapter 3 in Graeme Hodge and Carsten Greve (eds.) (2005), The Challenge of Public-Private Partnerships: Learning from International Experience, Edward Elgar Publishing, Cheltenham, United Kingdom, and Northampton, MA, United States, pages 44-61. Reprinted with permission from the editors and the publisher. OECD JOURNAL ON...
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...Deloitte Pranjal Kapoor Pranjal Kapoor Public Private Partnership Public Private Partnership Infrastructure Road/Highways Sector Public Private Partnership (PPP) A public private partnership is defined as “a cooperative venture between the public and private sectors, built on the expertise of each partner that best meets clearly defined public needs through the appropriate allocation of resources, risk and rewards. PPP is a way out to solve public deficit financing. It is done to give rise to speedy infrastructure growth. The Public Private Partnership has emerged as one of the most important models government use to close the infrastructure gap. For example, a city government might be heavily indebted, but a private enterprise might be interested in funding the project's construction in exchange for receiving the operating profits once the project is complete. Why PPP model? There are usually two fundamental drivers for PPPs. Firstly, PPPs enable the public sector to harness the expertise and efficiencies that the private sector can bring to the delivery of certain facilities and services traditionally procured and delivered by the public sector. Secondly, a PPP is structured so that the public sector body seeking to make a capital investment does not incur any borrowing. Rather, the PPP borrowing is incurred by the private sector vehicle implementing the project and therefore, from the public sector's perspective, a PPP is an "off-balance sheet"...
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...Introduction Public administration is the execution of government strategies for Canada and any other nation for that subject. It also studies this execution and ensures that the civil servants work towards achieving the government goals and objectives. Public administration is both a field of performance and an academic authority that caters for the obligations of the government in Canada. As a field of analysis with miscellaneous scale, its elementary objective is to ensure that there is progress in policies and management that make the Canadian government function (Robert and Denhardt 213). This administration offers public programs management, translates politic into reality, and studies the decisions that the government makes. The Canadian administration also analyzes the policies, and the inputs that make the policies. Public administration works to organize the programs and policies plus the official’s behaviors. Private administration in Canada is responsible for the processes of retailing, manufacturing, and supply of products and services in exchange for currency (Dwivedi, Byron, Sheldrick and Tim 123). The Canadian public administration handles data in a different way from private administration. People who work in private administration do not have the right to get information regarding private industry or business. Canadian government agencies need the private administration to report data like times records, employee earnings and demographics, and other laws necessary...
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...Project management competence in public sector infrastructure organisations PANTALEO MUTAJWAA DANIEL RWELAMILA* Graduate School of Business Leadership, University of South Africa, PO Box 392, UNISA 0003, South Africa Received 3 June 2006; accepted 2 November 2006 Public sector organisations responsible for infrastructure development in most non-industrialised countries, which include infrastructure departments/ministries, parastatal organisations and other statutory organisations qualify as project-oriented organisations (POO). There are strong indications to suggest that these organisations’ project management (PM) competencies leave a lot to be desired. At face value they purport to be fully fledged project-oriented organisations and performing as competent PM organisations, while in reality they are predominantly dependent on accidental project managers. This paper reports on a study that was carried out in one of the large infrastructure departments in South Africa. The focus is on one of the premiere programmes managed by the department. The management of the programme is scrutinised in order to establish the department/ministry’s PM competence. An evaluation of the performance of the programme was carried out in relation to the ministry’s mandate in order to assess its PM competence. It is found that the programme in its current form could be described as a ‘white elephant’ and a programme that does not have an appropriate organisation structure, nor appropriate...
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...Challenges Project Management in Bangladesh : Positive Factors: 1. Growing economy, scope for fresh and new projects, need for infrastructural facilities. 2. Availability of resources. 3. Abundance of manpower. 4. Urge for development. 5. Adaptability of manpower vis-à-vis technologies. Negative Factors: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22 23. 24. 25. 26. 27. 28. 29. Poor & very inadequate technical bases. Inadequacy of research & trained manpower. Serious brain drain. Lack & inadequacy of infra-structural facilities. Corruption (resource utilization is only 40% effectively). Very poor project planning. Data bank lacking & highly inaccurate. Dearth of experienced & hardworking and honest entrepreneurs. Poor general economic conditions & low per capita income. Size of market & buying capacities. Uncongenial legal framework. Absence of good governance. Unfriendly administrative machinery. Irrational fiscal policy. Weak & ineffective capital market. Inefficient monitoring of banking structure & banking policy. Default culture. Absence of business ethics. Lack of political will. High political risk including instability. Precarious law & order situation. Bangladesh is classified as “high risk” country. Low savings - GDP ratio. Majority of the population lives below poverty level. Low literacy rate & lack of civic sense, patriotism, and sense of belongingness. Unhealthy distribution of income and concentration of most of the wealth of the...
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...A PROJECT REPORT ON ANALYSIS OF MERCHANT BANKING IN INDIA SUBMITTED TO:Ms. Kavya Saini Submitted by:Kapil Baheti MBA 08/1808 2010 2012 A PROJECT REPORT ON ANALYSIS OF MERCHANT BANKING IN INDIA Department of commerce, kurukshetra University Kurukshetra ( Haryana) Under The Supervision Of :Mrs. Kavya Saini Submitted by:Kapil Baheti ] A PROJECT REPORT ON ³ANALYSIS OF MERCHANT BANKING IN INDIA´ Under The Supervision Of: - Submitted by:- Mrs. Kavya mam Kapil Baheti SUBMITTED TO:- International School of Infomatics & Management CONTENTS Sr.No. Page No. y y y y Chapter I Preface Guide Certificate Declaration Acknowledgement Introduction (Conceptual Framework) y y y y y Chapter II Chapter III Introduction Significance of the study Merchant Banking in India Focus of the Study Conceptualization literature Review Objective &Methodology y y y y Objective of the study Research design Sample size & Technique Data collection (Primary & Secondary) Chapter IV Data Presentation & Analysis Chapter V Implications & Conclusions Chapter VI Bibliography PREFACE The research studies are of a great help in enhancing the knowledge of a person. Practical knowledge is a suffix to theoretical knowledge. Classroom lecturers clarify the fundamental concepts of management. But classroom lectures must be correlated with the practical research situation. It is...
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