SPONSORS

SPONSORS

The potential impact of public-private partnerships

in developing the small to medium sector in Zimbabwe

 

FEATURED PAPER

By Dauglas Halimani, Tariro Mazava, Farai Don Dzapasi

Department of Banking and Finance
Great Zimbabwe University

Masvingo, Zimbabwe

 


 

Introduction

Public-private partnerships (hereafter referred to as PPPs) are in their infancy stage in Zimbabwe although they have existed in other parts of the world for decades. However, in the face of declining government revenue and the parallel depreciation of our infrastructure, PPPs appear to offer a solution to the infrastructure challenges facing Zimbabwe. Traditionally these PPPs have been undertaken by large corporations which have the capacity in technology and financial resources. The participation of small to medium enterprises (hereafter called SMEs) in PPPs has been low despite the role SMEs play in the economy in terms of employment creation, poverty and inequality reduction.  PPPs provide an opportunity for Zimbabwe and other developing countries to develop a viable SME sector. Therefore, there is need for government to encourage the participation of SMEs in PPPs. This can enable governments in developing countries to tap into the potential that PPPs have for solving socio-economic challenges affecting developing countries such as unemployment and poverty. There is a need to rethink on the models used to execute PPPs as the traditional model discourages the participation of SMEs because of lack of technological know-how and inadequate finances. There is therefore a need to find means to encourage SMEs participation in PPPs.

Problem Statement

SMEs play an important role in the economic development and growth of an economy through job creation, offering diversified and innovative products and services in an economy. However, the participation of SMEs in PPPs is very limited and there is need to find strategies to increase the participation of SMEs as a strategy to spread economic opportunities. The traditional models of PPPs underestimate the potential impact the PPPs can have in creating a viable SME sector that can create employment and provide income for the poor while addressing the infrastructure backlogs.

Research Objectives

The research sought to find out how PPP projects in Zimbabwe can help SME development. Furthermore, the research sought to identify strategies that can increase the participation of SMEs in PPP projects.

Research Questions

  1. How can PPPs assist in the development of SMEs in Zimbabwe?
  2. What strategies can be implemented to increase SME participation in PPP projects?

Research Methodology

The research methodology employed for this study is the mixed-method. This method encompasses desktop research where a review of literature is done as well as survey where questionnaires and interviews are used to gather information and some elements of quantitative method to analyze data gathered.

Literature review

Definition of PPPs

The definition of public-private partnership is wide. However, the Fiscal Affairs Department of the IMF define PPPs as arrangements where the private sector supplies infrastructure assets and services that traditionally have been provided by the government. This definition accommodates the various types of arrangements under the PPPs. Farrugia and Orr (2008) define PPPs in terms of participation of the private sector in infrastructure and in this respect, PPPs are often referred to as “private finance initiative”, public-private partnership, alternative financing and procurement or performance –based infrastructure”. Grimsey and Lewis define PPPs as arrangements whereby private parties participate in, or provide support for, the provision of infrastructure and PPP projects results in public infrastructure being delivered by a private entity on a contractual basis. De Bettignies and Ross argue that universal definition is not possible because the term is used in slightly different ways that result in a precise definition not being possible.

More…

To read entire paper, click here

 

How to cite this paper: Halimani, D.; Mavaza, T.; Dzapasi, F. (2019). The potential impact of public-private partnerships in developing the small to medium sector in Zimbabwe; PM World Journal, Vol. VIII, Issue XI, December.  Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Halimani-potential-of-public-private-partnerships-in-zimbabwe.pdf

 


 

About the Authors


Dauglas Halimani

Great Zimbabwe University
Masvingo, Zimbabwe

 

 

Dauglas Halimani is 36 years old and a lecturer at Great Zimbabwe University since 2014. He holds a master’s degree in Banking and Financial Services from National University of Science and Technology as well as Bachelor of Commerce Honours in Finance from Great Zimbabwe University. He is a final year Bachelor of Laws student with the University of South Africa. His interests span the areas of commerce and law.  He can be contacted dhalimani@gzu.ac.zw

 


Tariro Mavaza

Great Zimbabwe University
Masvingo, Zimbabwe

 

 

Tariro Mavaza is a Lecturer in the Munhumutapa School of Commerce, Department of Banking and Finance, the Great Zimbabwe University.  He previously worked for Zimbabwe Revenue Authority as a Revenue Official. His areas of research are: Financial markets, Revenue Collection Systems I, Corporate Governance, Quality Management Systems and Project Management. He has published three research papers in International and Regional Journals on Total Quality Management and Corporate governance. Email address: tmavaza@gzu.ac.zw

 


Farai Dzapasi

Great Zimbabwe University
Masvingo, Zimbabwe

 

Farai Dzapasi is a lecturer in the Department of Banking and Finance at the Great Zimbabwe University. He holds a Bachelor of Commerce Honours in Finance and Master of Commerce in Finance from Great Zimbabwe University.

 

 

E-Banking Adoption by Zimbabwe Banks

An Exploratory Study

 

FEATURED PAPER

By Tariro Mavaza

Department of Banking and Finance
Great Zimbabwe University

Masvingo, Zimbabwe

 


 

ABSTRACT

Increased use of mobile services and use of internet as a new distribution channel for banking transactions and international trading has created necessary conditions for E- banking. The growth of E-banking in Zimbabwe has been encouraged by improved internet connectivity and the introduction of mobile money products by Mobile Network Operators thanks to the introduction of the multicurrency regime by the Government of National Unity in 2009.   This study was carried out to assess the extent of E- banking adoption among the Zimbabwean banks and identify possible hindrances to the same. Key drivers to adoption of E-banking were also part of the focus of the study as well as its inhibitors. An exploratory research design was used to achieve the envisaged aims of the study.  Data were collected using a survey questionnaire. The participants in the study were bank managers and bank customers. Overall the results of the study showed that while E-banking has made inroads in Zimbabwe its adoption has been at a very slow pace. The main reason for this was lack of public trust in the banking system as a result of 2003 to 2010 economic meltdown experiences of bank customers. The implications of the study are that banks should vigorously promote adoption of E-banking among its customers and that the Government should move with speed to restore public confidence in banking sector restoring macroeconomic fundamentals and coming up with consistent policies.

Keywords: E-banking, online banking, perceived usefulness, Zimbabwe

1.0  INTRODUCTION

The proliferation of, and advances in, technology world over specifically those related to internet has led to fundamental changes in how financial institutions serve their customers. Use of the electronic banking (e-banking) has become the self-service delivery channel that allows banks to provide banking services to their customers with more convenience. Today, many financial institutions, worldwide, are rushing to become more customer focused with less customer contact through use of internet banking and ‘plastic money’.

In its very basic form, e-banking can mean the provision of information about a bank and its services via a home page on the World Wide Web (WWW). Zwass (2003) echoes a more coherent definition of electronic banking stating that it is the deployment of banking services and products over electronic and communication networks directly to customers. These electronic and communication networks include ATMs, direct dial-up connections, private and public networks, the internet, televisions, mobile devices and telephones The banking industry has been undergoing changes since the mid 1990s, in the form of innovative use of information technology and development in electronic commerce (Kalakota and Whinston, 1996). This development made e–banking pose as a threat to the traditional branch operations. For customers, the internet offers faster access, is more convenient and available around the clock irrespective of the customer’s location. From the banks’ point of view, use of the internet has significantly reduced the physical costs of banking operations.

In Zimbabwe the first visible form of electronic innovation was in the early 1990s when Standard Chartered Bank and Central Africa Building Society (CABS) installed Automated Teller Machines (ATMs). Other forms of electronic innovations that have found their way into Zimbabwean banks are Electronic Funds Transfer Systems (EFT), Telephone banking, Personal Computer (PC) banking and recently internet banking (Dube, et al ,2009). In Zimbabwe, over the past twelve years the banking sector has undergone great metamorphosis because of policy related issues, corporate governance failures of the early 2000s, and the meltdown of the economy which climaxed in 2008 with rampant speculative behaviour in the financial sector of the economy and industry specific factors (Reserve Bank of Zimbabwe, 2011). These events affected the adoption of e-banking services by Zimbabwean banks adversely, until 2009 when things started to pick up thanks to the adoption of the multicurrency regime by the government (Biti, 2010). Since 2009, when the economy rejuvenated, the Zimbabwean government, in conjunction with the financial sector, as the case in many other countries, is exploring ways to encourage the vigorous use of e-banking (Gono, 2012).

More…

To read entire paper, click here

 

How to cite this paper: Mavaza, T. (2019). E-Banking Adoption by Zimbabwe Banks: An Exploratory Study; PM World Journal, Vol. VIII, Issue XI, December. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Mavaza-ebanking-adoption-by-Zimbabwe-banks.pdf

 


 

About the Author


Tariro Mavaza

Masvingo, Zimbabwe

 

 

 

Tariro Mavaza is a Lecturer in the Munhumutapa School of Commerce, Department of Banking and Finance, at the Great Zimbabwe University.  He previously worked for Zimbabwe Revenue Authority as a Revenue Official. His areas of research are: Financial markets, Revenue Collection Systems I, Corporate Governance, Quality Management Systems and Project Management. He has published three research papers in International and Regional Journals on Total Quality Management and Corporate governance. He can be contacted at tmavaza@gzu.ac.zw

 

Real Estate Projects Design and Pattern

in Akulemu and Ajegunle Areas of Oyo, Oyo State, Nigeria: An assessment of Key Contributing Factors

 

FEATURED PAPER

By Christian Osita Ifediora

Oyo State, Nigeria

 


 

ABSTRACT

This work focused on the factors that conspired to determine the choice of design, pattern and types of real estate projects in the Akuleme and Ajegunle areas of Oyo State in Nigeria. Most real estate projects seem to be peculiar and follow almost a similar pattern which is mostly wing time and new real estate projects in the study area are mostly not different from what has been over the years. This study through observations and interview identified the types of real estate projects prevalent in the area, the factors which also conspired to determine the choice, pattern and types of such real estate projects. It determined the extent to which the identified factors contributed to the choice/patterns of most real estate projects within such study areas. Through Friedman non-parametric statistical (test) analysis done using SPSS version 21, it was also discovered that the identified factors have impact on the choice of design and real estate development in the study area. The work recommended that stakeholders should consider either conversion of already exiting real estate projects to self-contained to reflect the current design and demand, adding that new developments should feature more new real estate projects that are self-contained types.

Key points: Real estate, Projects, Design, Pattern, and Factors.

1.0   INTRODUCTION

The real estate industry is one of the most active and influential sectors of the overall performance of the Nigerian economy. Globally investments in real estate projects are expanding rapidly, leading to expansion in job opportunities; this is particularly true as evidences abound even in emerging and developing economies. According to Ling and Archer, (2010), Real estate is one of the largest components of wealth in many economies, has continued to plays a crucial role in advancing the economic condition of individuals, families and firms; it has no doubt substantially influenced a family’s ability to finance its education, health care and other critical needs. It has been described as the highest employer of labour when compared with other sectors of the economy, (Olajide, 2018). Real estate provides or serves as shelter for the teeming populace, while it provides shelter for the populace, it has been observed that various patterns feature in different communities, these real estate are peculiar in terms of their design and varies in shapes and sizes in relation to the nature of household, hence the need to look at the types or pattern in some localities especially in environment these peculiarity is more pronounced.

The presence of Federal School of Survey (FSS) and Ajayi Crowther University Oyo (ACU) both located within the study area has led to increase in demand for self-contained accommodations, both staff and students including occasionally corps members, finds it difficult to get the type of real estate projects that will give them the desired privacy.  In Akulemu and Ajegunle areas of  Oyo, the type/pattern of real estate project estate appears to be somewhat peculiar, while most of the real estate projects both developed and ones under development appears to be more of tenement buildings, bungalows and some that seems to be like flat are more of wings types. It is a common thing to see real estate projects in nature of “face me I face you apartment”. Again the issue of ventilation is also a call for concern as most of the rooms have one windows and always very small hence making it difficult for cross ventilations. This study considers it necessary to analyse the factors that could condition the choice of such of pattern of real estate projects or accommodation in some selected place in Oyo.  Many factors are believed to have conspired to determine the choice of design, pattern and types of such real estate projects in Akulemu and Ajegunle area of Oyo.

More…

To read entire paper, click here

 

How to cite this paper: Ifediora, C.O. (2019). Real Estate Projects Design and Pattern in Akulemu and Ajegunle Areas of Oyo, Oyo State, Nigeria: An assessment of Key Contributing Factors; PM World Journal, Vol. VIII, Issue XI, December. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Ifediora-real-estate-projects-design-patterns-in-oyo-state.pdf

 


 

About the Author


Christian Osita Ifediora
Ajayi Crowther University Oyo
Oyo State, Nigeria

 

 

 

Christian Osita Ifediora, MSc, ANIVS, RSV is a lecturer in the Department of Estate Management, Faculty of Environmental Studies, Ajayi Crowther University Oyo, Oyo State, Nigeria. An Associate member of the Nigerian Institution of Estate Surveyors and Valuers, a Registered Estate Surveyors and Valuers. Holds BSc. Estate Management and MSc. (Project management option), Nnamdi Azikiwe University Awka, Anambra State, Nigeria. Currently a PhD student of the same institution.  A reviewer in a journal (science domain).  Currently a member of European centre for Research Training and Development United Kingdom. He is a member of Library and Publication Committee and member of Students Industrial Work Experience (SIWES) board, Ajayi Crowther University.  He can be contacted at ositaifediora@gmail.com or co.ifediora@acu.edu.ng

 

 

A critical analysis of the importance of project stakeholder management

in the implementation of the Zimbabwe Revenue Authority electronic services platform

 

FEATURED PAPER

By Tasiyana Siavhundu

Gweru, Zimbabwe

 


 

ABSTRACT

One of the common situations that derail global projects in general and African projects in particular is poor stakeholder management. In most projects, it is really possible and easy to forget the importance and role played by stakeholders in project success as project managers deviate from the project scope and end up using resources inefficiently. The study analyzed the importance of project stakeholder management in the implementation of the Zimbabwe Revenue Authority’s electronic services platform. A qualitative research methodology was employed where questionnaires formed the major data gathering tool. Questionnaires were administered through face-to face interviews, telephone interviews, electronic mails as well as through the post. The study rejected the null hypothesis that project stakeholder management did not matter in the implementation of Zimbabwe revenue Authority’s electronic services platform. Thus, the study proved that project stakeholder management is indispensable and was really necessary in the implementation of the Zimbabwe Revenue Authority electronic services project.

Key words: e-services, project managements, stakeholder management, questionnaire, ZIMRA

1.0 INTRODUCTION

One of the common situations that derail global projects in general and African projects in particular is poor stakeholder management. In most projects, it is really possible and easy to forget the importance and role played by stakeholders in project success as project managers deviate from the project scope and end up using resources inefficiently. The probable result in this case is a white elephant. Successful and fruitful project management however requires putting stakeholders at the centre so that stakeholder buy-in becomes obvious as stakeholders feel that they co-own the project.

The PMBOK Guide, 6th Edition defines a project stakeholder as an individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. Project stakeholder management is therefore about identifying and satisfying those who are affected by the project, whether they are internal or external. Almost everyone or every organization is a stakeholder to any project but not all stakeholders matter. Therefore, close attention needs to be paid to those stakeholders who can have a profound positive or negative impact on the project.

Stakeholder management is a critical function of any project manager’s job. Without strong stakeholder support, project success may be jeopardized since success is defined by the stakeholders. With strong stakeholder support a project gains a valuable ally who can significantly trigger success. When managed properly, a team of engaged stakeholders can really be one of the project’s greatest assets. Stakeholders can be a great source for requirements, can serve as mentors and can help raise the adoption rate of projects’ output by the end users. Stakeholders can also support the project team in times of need or crisis. In essence, making sure that all of project stakeholders buy into the vision of the project and understand its benefits will lead to strong stakeholder support.

1.1 Background of the Study

ZIMRA, which derives its mandate from Zimbabwe’s Revenue Authority Act [Chapter 23:11] and other subsidiary legislation, is responsible for assessing, collecting and accounting for revenue on behalf of the State through the Ministry of Finance. Its four-fold and specific mandate is to collect revenue, facilitate trade and travel, advise the government of Zimbabwe on fiscal and economic matters as well as protecting the civil society.

ZIMRA was established on 19 January 2001 as a successor organization to the then Department of Taxes and the Department of Customs and Excise following the promulgation of the Revenue Authority Act on February 11, 2000.Since then, ZIMRA has grown at a tremendous pace and has put in place client-centric strategies for the convenience of the transacting public. From inception, ZIMRA embraced a culture of modernisation as evidenced by having modernisation as one of its strategic goals. A number of projects have already been implemented and many are in the process of being implemented. The need to ensure synchronisation of projects and coordination of the implementation process resulted in the establishment of the Modernisation Projects Office (MPO) on 1 September 2011. ZIMRA’s modernization policy is also aligned to the national strategic blueprint, the ZIMASSET, which incorporates technological advancement as one fundamental components of growth and development.

As one of its modernization initiatives, ZIMRA, in conjunction with Microsoft and Systems Application Programme (SAP), developed the e-services platform, which was launched on the 28th of June 2015…

More…

To read entire paper, click here

 

How to cite this paper: Siavhundu, T. (2019). A critical analysis of the importance of project stakeholder management in the implementation of the Zimbabwe Revenue Authority electronic services platform; PM World Journal, Vol. VIII, Issue XI, December. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Siavhundu-importance-of-stakeholder-management-in-ZIMRA.pdf

 


 

About the Author


Tasiyana Siavhundu

Gweru, Zimbabwe

 

 

 

Tasiyana Siavhundu is a member of the Project Management Zimbabwe (PMZ) with vast qualifications and experience in Project Management, Economics, Taxation as well as Investments and Portfolio Management. He is a holder of a B.Sc. Honours Degree in Economics, Master of Commerce Degree in Economics, Post-Graduate Diploma in Project Management, Executive Certificate in Investments and Portfolio Management, Advanced Certificate in Taxation and many other qualifications.

Tasiyana has worked both in the private and public sectors in Zimbabwe. He is now employed as a Revenue Officer with the Zimbabwe Revenue Authority (ZIMRA) where he has been instrumental in economic research, revenue enhancement projects, taxpayer education, audits and so forth. He is very passionate about research work and has interests in the fields of Economics (particularly Public Economics), Project Management and Taxation.

Tasiyana Siavhundu can be directly contacted by email at tsiavhundu@gmail.com

To view other works by this author, visit his author showcase in the PM World Library at https://pmworldlibrary.net/authors/tasiyana-siavhundu/

 

 

Advantages of making a dashboard

with a Business Intelligence platform compared to other reporting software

 

FEATURED PAPER

By Piero G. Anticona

Lima, Peru

 


 

ABSTRACT

A Business Intelligence (BI) dashboard is a tool that transforms information and displays Key Performance Indicators (KPI) and metrics to assess the organization’s performance. Besides, it is a powerful application to elaborate on the dashboard with big data. It is also more useful for the main reports to project managers, project directors, and executive managers.

Can Business Intelligence’s applications provide efficiency of use of resources, the stability of administration of the information, scalability to share spreadsheets or data, and avoid indifference from managers of watching the reports generated?

What other advantages of making a dashboard with Business Intelligence platforms compare to other reporting software?

This research is important:

  • To determine the advantages of Business Intelligence over other report software
  • To define the main attributes to choose a Business Intelligence dashboard tool.
  • To decide what challenges executive managers have to overcome to use a Business Intelligence dashboard.

This paper concluded the following:

  • BI platform does not offer any advantage compared to other reporting software. The author has not perceived any benefit elaborating on the charts because it was not intuitive to set figures and parameters. Dundas BI online version is the platform that replicates most of the metrics.
  • A BI dashboard tool should include attributes, the modification of arrangements, or formats of data source. Online versions do not include this feature. Also, online versions do not include all the charts listed in the manuals and other characteristics as assigning more values to a secondary axis. And the most important is that BI platforms should be more intuitive in setting the parameters of different axis.
  • The challenges that executive managers have to overcome to get the full value of BI applications are that not all the information is replicable in BI dashboard tools. Also, as they are not intuitive, a skilled manager with an advanced level of MS Excel might discourage him/her from using BI tools. Another factor that might stop using BI tools is that Data Source uses different formats from different supporting areas. It should be standard. And finally, a good challenge should be to train project team members in using significant amount of data with several dimensions to use charts that are more interactive with users in selecting and in filtering to report specific indicators.

Key Words:     Cost Reporting, Executive Managers, Business Intelligence, Dashboard, Database, Big Data, Data Analytics, Reports, Metrics, KPI.

INTRODUCTION

Some companies do not know how to integrate multiple business applications that use different data sources. Another problem that companies face is the lack of visibility of operations and activities from functional areas.  When managers or directors get the information, it is not quick, and data is not relevant.

Companies that merge, acquire, or grow fast also have to manage a significant amount of information.

Besides, there is an increase in the volume of information, and end-users require analytical capabilities.

Companies implement Enterprise Resource Planning (ERP) systems to improve processes and reorganize operational data, but still, it gets duplicated or copied on to multiple platforms. These systems do not guarantee reliability and security. Several reports from Finance, Sales, or Operations rarely deliver the same figures. Even if the ERP produces the same information, reports do not reconcile because of the extract process or the format.

Over the last decade, other companies have developed applications for performance management to repair defaults of the accounting modules from ERP vendors. The Chartered Institute of Management Accountants Forum considers that these applications are better for consolidation, elaboration of budgets and forecast, than those performed for ERP systems.

Business Intelligence (BI) is a concept that uses different tools, definitions, and technologies to process data and elaborate useful information that stakeholders use to make decisions.

The goal is to address concerns about business and analysis if strategies provide them a competitive advantage in the sector or market.

More…

To read entire paper, click here

 

How to cite this paper: Anticona, P. (2019). Advantages of making a dashboard with a Business Intelligence platform compared to other reporting software. PM World Journal, Vol. VIII, Issue XI, December. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Anticona-making-dasboard-with-business-intelligence.pdf

 


 

About the Author


Piero G. Anticona

Lima, Peru

 

 

 

Piero Anticona is a project controller with 15 years of professional experience in the sectors of Mining, Energy and Oil and Gas. He worked as Owner, EPCM and Contractor in different projects in Peru, Spain and France. Piero is a Certified Cost Professional from AACE International and Project Management Professional from Project Management Institute. Piero graduated from SKEMA (France) with a Master in Program and Project Management. In addition, he has a major study in Mechanical Electrical Engineering from Universidad Nacional de Ingeniería (Peru). He is currently president of AACE International Peru Section (2018-2019) and he is attending a distance learning mentoring course, under tutorage of Dr Paul D. Giammalvo, CDT, CCE, MScPM, MRICS, GPM-m Senior Technical Advisor, PT Mitrata Citragraha, to attain Guild of Project Controls certification.

Piero lives in Lima, Peru and can be contacted at piero.anticona@gmail.com

To view other works by this author, visit his author showcase in the PM World Library at https://pmworldlibrary.net/authors/piero-g-anticona/

 

 

 

Reward Management for Improved Performance

of Nigerian Brewing Companies

 

FEATURED PAPER

By Dr. Uzoma Francis Amaeshi

Department of Management Technology
Federal University of Technology, Owerri

Imo State, Nigeria

 


 

ABSTRACT

This study investigates the effect of reward management on the performance of four selected brewing companies in South East Nigeria. We adopted a descriptive survey design; generating our primary data with item structured research instrument on Likert scale from a total of 428 respondents that formed the study population and analyzed the collated data using Pearson correlation coefficient and simple regression analysis statistical tools. The findings of the study revealed that recognition/praise rewards, pay/bonus rewards, work environment, training and development have significant positive relationship with employees’ performance in brewing companies in South Eastern Nigeria. Therefore, reward management has a positive effect on the performance of employees in the brewing companies in Nigeria. We recommend that management should adopt feedback mechanisms that will give them signal on the performance level of the various reward systems in use in their organizations.

Key words:  Motivation, Reward Management, Employee Performance

Introduction

1.0 Background of the study

Most people look for a job that rewards them for what they can offer the organization, meaning we all want to be adequately compensated for our skills, abilities, knowledge and loyalty that we bring to a job. Being rewarded in this way seems fair, but unfortunately, this is not always achieved. When unfair treatment rears its ugly head in the workplace, so do a lack of motivation, lower performance and decreased job satisfaction appear.

Scholars have seen reward to be a vital instrument in employee performance (Nnaji-Ihedinmah and Egbunike, 2015; Ajila and Abiola, 2004; Sajuyigbe, Olaoye and Adeyemi, 2013; and Aslam, Ghaffar, Talha and Mushtaq, 2015). These studies have shown that the indicators for measuring employee performance are customer satisfaction, timeliness, absenteeism/tardiness and achievement of objectives.

According to Armstrong, 2006; Torrington, Hall and Stephen, 2008; Hakala, 2008; Njanja, Maina, Kibet, and Njagi (2013) when an employee has surpassed his/her set targets, the employee is considered to have performed well.

These studies have shown that in Nigeria, managers failed to recognize these factors. They have equally failed to provide enabling environment which have critical effects on individual and organizational performance

Notwithstanding the possible essential nexus between rewards management and employee performance in either private/public company, it is still annoying to note that management of various organizations, particularly those of brewing company in Nigeria, hardly consider it as a critical aspect of managing employees performance (Mbah, Mgbemena, and Ejike, 2015). Olajide, (2000) opined that employee performance that is a crucial input for sustaining organizational effectiveness has been missing thus, making it very hard for companies to attain high productivity levels.

Akerele, (1991) blamed the poor productivity of Nigerian workers on employers failure to provide adequate compensation for hard work. Markova and Ford (2011) opine that “the real success of companies originate from employees’ willingness to use their creativity, abilities and know-how in favour of the company and it is organization’s task to encourage and nourish these positive employee inputs by having effective reward practices in the workplace”.

1.1. Purpose of the study

This study tries to explain the connection between rewards and employee performance in brewing companies in Nigeria. Our main purpose is to bring together stakeholders, policy makers, researchers and others who may find it useful. Policy makers need to understand the types of reward management that best motivates employees to peak performance. This understanding will enable management of organizations put up corporate strategies that will accommodate employee rewards; employees will equally be properly guided as to their expectations from their employers in order to reduce conflicts.

More…

To read entire paper, click here

 

How to cite this paper: Amaeshi, U.F. (2019). Reward Management for Improved Performance of Nigerian Brewing Companies; PM World Journal, Vol. VIII, Issue XI, December. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Amaeshi-reward-management-for-improved-performance.pdf

 


 

About the Author


Dr. Uzoma Francis Amaeshi
Federal University of Technology
Owerri, Imo State, Nigeria

 

 

 

Dr. Uzoma Francis Amaeshi is a senior lecturer in the department of Project Management Technology, Federal University of Technology, Owerri, Imo State, Nigeria. His doctoral work is in Management with areas of research interest that include: Human Resources Management; Organizational Development and Entrepreneurship development.

Dr. Amaeshi can be contacted at uzor1958@gmail.com.

 

 

How to write a Model Scheduling Specification

Incorporating the GAO’s “Best Practices in Scheduling” Appendices

 

FEATURED PAPER

By Tijo Kurian

India & Libya

 


 

ABSTRACT

To develop a scheduling specification with an appropriate type of specifying was researched in this paper. Considering world-class CSI manual of practices and Texas DoT for specification template and Master Format 2004 from CSI & CSC for coding structure with incorporating “GAO’s Best Practices in Scheduling” in scheduling specification.  By conducting proper analysis with Engineering Economic Analysis Procedure to develop the scheduling specification with seven steps. In the analysis, powerful decision-making tools like SWOT analysis to refine from the four types of specifying to the appropriate two, then through force field analysis, select the most preferred type of specifying to develop the scheduling specification. Performance specification is the selected type of specifying from the alternatives to develop the Model Scheduling Specification. Hence a robust scheduling specification has developed adopting best practices from the standards and GAO’s Best Practices as appendices to this paper.

Keywords: Performance Specification, Contractual, writing style, contractor, Scheduling

INTRODUCTION

Specifications are one of the essential components that make up the contract agreement between the owner and the contractor.[1] “Specifications define the requirements for products, materials, and workmanship upon which the contract is based and the requirements for administration and performance of the project.”[2] “They are written to achieve a work result.” A specification is clear, concise, accurate, and easily understood. In most countries, the specification is part of the contractual documents. Then only the contractor will follow the specifications without hesitant. It’s essential to select the type of specification and adopt the writing style. The techniques used in the preparation of specifications involve the development of sections from the product reference material and editing section from other references. In developing specifications, the preliminary step is to gather information regarding the project-specific requirements and product selection decisions, require systematics and progressive compiling information in the early design phases.

There are several decisions to be taken on the outset of specification preparation. Before writing the original sections for a project, the type and organization of the specification must be decided upon. Information collected should be developed in the three-part section format, which provides consistency in the presentation of information and allows us to a wide variety of projects. A decision must be taken on the appropriate method of specifying. Sometimes more than one method may be necessary for the same specification or in the same section.

Specification Language

Specification language requires correct usage of vocabulary, grammar along with the correct sentence and paragraph construction. In the specification language, four principles of effective communication should follow, Clear, Concise, Correct, and Complete…

More…

To read entire paper, click here

 

How to cite this paper: Kurian, T. (2019). How to write a Model Scheduling Specification Incorporating the GAO’s “Best Practices in Scheduling” Appendices. PM World Journal, Vol. VIII, Issue XI, December. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj88-Dec2019-Kurian-how-to-write-a-model-scheduling-specification.pdf

 


 

About the Author


Tijo Kurian

India & Libya

 

 

Tijo Kurian is a project management professional with over 14 years of experience in upstream and downstream oil and gas projects. He is currently working as a Senior Project Engineer at Waha Oil Company in Libya. He previously worked with Samsung Engineering Co. Ltd, Bilfinger Berger Germany, as Project Control Engineer in various oil and gas projects. He holds a Degree in Mechanical Engineering from MG University, Kottayam and Diploma in Mechanical Engineering from DOTE, Tamil Nadu, India. He is a certified Project Management Professional (PMP) from PMI, USA. He is pursuing some other project management/project control credentials from AACE, Guild of Project Controls, and PMI under the tutorage of Dr.  Paul D. Giammalvo, CDT, CCE, MScPM, MRICS, GPM-m Senior Technical Advisor, PT Mitrata Citragaha. Tijo Kurian can be contacted at tijokurien007@gmail.com .

 

[1] Specification Writing – Fundamentals of Structure …. https://www.bicsi.org/docs/default-source/conference-presentations/2017-winter/specification-writing.pdf?sfvrsn=9d504f43_2

[2] Specification Writing – Fundamentals of Structure …. https://www.bicsi.org/docs/default-source/conference-presentations/2017-winter/specification-writing.pdf?sfvrsn=9d504f43_2

 

 

Benchmarking of Scheduling Standards and Practices

against GAO Best Practices for Project Schedules

 

FEATURED PAPER

By Tijo Kurian

India and Libya

 


 

ABSTRACT

In oil and gas industry projects, the problem is to produce a class schedule for measuring the performance of projects. The purpose of this paper is to select appropriate standards for future reference in adopting best practices in scheduling. In the analysis, various standards across the globe, company standards, and contractors scheduling practices benchmarked against GAO Schedule Assessment Guide.  A scoring model developed by using Multi Attributes Decision Making (MADM) Non-compensatory and compensatory method on the basis of the GAO Schedule Assessment Guide. From the analysis it’s found that GAO Schedule Assessment Guide is superior to the other standards and practices. The recommendation from this paper is that the practices from GAO Schedule Assessment Guide can be adopted to prepare and maintain a quality, reliable schedule in projects. Owners can ensure these practices were followed in their projects by adopting the standards as scheduling specifications in the contractual documents.

Keywords: Best practices in scheduling, GAO Schedule Assessment Guide, Project Schedule, Scoring Models, Multi-attribute Decision Making, activities

INTRODUCTION

“Owners continue to experience project failures, 53% suffered one or more underperforming projects in the previous year. For energy and natural resources and public sector respondents, the figures were 71% and 90%, respectively. Only 31% of all respondents’ projects came within 10% of the budget in the past 3 years. Just 25% of projects came within 10% of their original deadlines in the past 3 years”[1]. Developing a feasible project schedule is challenging due to many factors. In oil and gas, the projects are delaying due to various reasons and one of the major reasons that the contractor may not produce a feasible project schedule that should not comply with the best practices in scheduling. Hence the contractor loses the opportunity for forecasting and predictive manners. This happens due to a lack of awareness and usage of best practices in scheduling. The author in this paper tried to overcome such circumstances made by the contractors and give the awareness about the best practices which to be followed for the preparation and maintaining the schedule. There are many standards and references available for the standardization of project schedules in that the GAO Schedule Assessment Guide seems the best to compare the schedules with the best practices and adopt for the preparation of the schedules. To overcome such situations and make aware of the contractors the importance of implementing the best practices in scheduling for the schedule development. To substantiate the facts four project schedules have been selected for the assessment with the best practices in GAO Schedule Assessment Guide.

The GAO Schedule Assessment Guide provides ten best practices to develop and maintain a reliable and high-quality schedule for the smooth execution of projects. In appendix II, the guide has provided a detailed audit questionnaire that can exclusively use for the audit of the schedule, and thereby, the health of the schedule can be determined. GAO concluded with the “four characteristics required for a reliable and high-quality schedule that it should be comprehensive, well-constructed, credible and controlled.” As per GAO;

Comprehensive

“A comprehensive schedule includes all activities for both the government and its contractors necessary to accomplish a program’s objectives as defined in the program’s WBS. The schedule includes the labor, materials, travel, facilities, equipment, and the like needed to do the work and depicts when those resources are needed and when they will be available. It realistically reflects how long each activity will take and allows for discrete progress measurement”[2].

Well-constructed

“A schedule is well-constructed if all its activities are logically sequenced with the most straightforward logic possible. Unusual or complicated logic techniques are used judiciously and justified in the schedule documentation. The schedule’s critical path represents a true model of the activities that drive the program’s earliest completion date, and total float accurately depicts schedule flexibility.”

Credible

“A schedule is credible if it is horizontally traceable—that is, it reflects the order of events necessary to achieve aggregated products or outcomes. It is also vertically traceable: activities in varying levels of the schedule map to one another and key dates presented to management in periodic briefings are in sync with the schedule. Data about risks are used to predict a level of confidence in meeting the program’s completion date. Necessary schedule contingency and high-priority risks are identified by conducting a robust schedule risk analysis.”

More…

To read entire paper, click here

 

How to cite this paper: Kurian, T. (2019). Benchmarking of Scheduling Standards and Practices against GAO Best Practices for Project Schedules, PM World Journal, Vol. VIII, Issue X, November. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/12/pmwj87-Nov2019-Kurian-benchmarking-scheduling-standards-against-gao-best-practices4.pdf

 


 

About the Author


Tijo Kurian

India & Libya

 

 

Tijo Kurian is a project management professional with over 14 years of experience in upstream and downstream oil and gas projects. He is currently working as a Senior Project Engineer at Waha Oil Company in Libya. He previously worked with Samsung Engineering Co. Ltd, Bilfinger Berger Germany, as Project Control Engineer in various oil and gas projects. He holds a Degree in Mechanical Engineering from MG University, Kottayam and Diploma in Mechanical Engineering from DOTE, Tamil Nadu, India. He is a certified Project Management Professional (PMP) from PMI, USA. He is pursuing some other project management/project control credentials from AACE, Guild of Project Controls, and PMI under the tutorage of Dr.  Paul D. Giammalvo, CDT, CCE, MScPM, MRICS, GPM-m Senior Technical Advisor, PT Mitrata Citragaha. Tijo Kurian can be contacted at tijokurien007@gmail.com .

 

[1] KPMG International. (2015). Climbing the curve. Retrieved from https://assets.kpmg/content/dam/kpmg/pdf/2015/04/global-construction-survey-2015.pdf

[2] U.S. Government Accountability Office. (2015). GAO Schedule Assessment Guide Best Practices for Project Schedules (148). Author. FOUR CHARACTERISTICS OF A RELIABLE SCHEDULE

 

 

A bird’s eye view on the agile forest

 

FEATURED PAPER

By Henny Portman

The Netherlands

 


 

Some years ago, you could say “Scrum is agile” and ask “is agile Scrum?” Now we know there is much more flesh on the bones. At this moment there are more than fifty known and less known agile approaches, frameworks or methods available. To get a first impression of the different approaches, I try to bring some structure in the jungle to approaches, methods and frameworks. In Figure 1, I position the best-known agile approaches in a structure. The approaches, frameworks or methods are positioned within the ‘One-time programs / projects’ sections or within ‘Business as usual’ / indefinite, or both.

Fig. 1 Overview agile approaches, frameworks and methods[1]

On the other side the approaches, frameworks or methods are clustered around team, product or programme and portfolio level. In the dark blue boxes in Figure 1 we see agile approaches that are only applicable in IT-focused organizations. All other approaches can be used within IT and non-IT-oriented organizations (light blue coloured). I haven’t mapped all the known approaches, frameworks and methods in this figure, and to be honest, I think there is a lot of duplication and probably commercial drivers play a role too to ‘develop’ the next kid on the block without added value in comparison with the existing approaches, frameworks or methods.

The team level, including Scrum and Kanban, is applicable in both IT-oriented and non-IT-oriented products and services development and operations. The engineering level focuses specifically on IT-oriented product development. The one-time, temporary projects and programme frameworks and methods are suitable for both IT and non-IT. The permanent umbrella frameworks (both product-targeted and team-targeted) focus specifically on IT and product development and the Culture-targeted approaches help organisations to increase their agility.

More…

To read entire paper, click here

 

How to cite this paper: Portman, H. (2019). A bird’s eye view on the agile forest; PM World Journal, Vol. VIII, Issue X, November. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/11/pmwj87-Nov2019-Portman-birds-eye-view-on-agile-forest.pdf

 


 

About the Author


Henny Portman

The Netherlands

 

 

 

Henny Portman, a partner of HWP Consulting, has 40 years of experience in the project management domain. He was the thought leader within NN Group of the PMO domain and responsible for the introduction and application of the PMO methodologies (portfolio, programme and project management) across Europe and Asia. He trains, coaches and directs (senior) programme, project and portfolio managers and project sponsors and built several professional (PM(O) communities. He is an accredited P3O, PRINCE2, MSP, MoP, PRINCE2 Agile, AgilePM, and AgileSHIFT trainer and a SPC4 SAFe consultant and trainer too. He is a P3M3 trainer and assessor and PMO Value Ring Certified Consultant. In addition, Henny is international speaker and author of many articles and books in the PM(O) field and blogger (hennyportman.wordpress.com).  Henny can be contacted at henny.portman@hwpconsulting.nl .

 

[1] This picture is based on a simpler version in the book Scaling Agile in organizaties by Henny Portman, Van Haren Publishing, 2017

 

 

Global Determinants of Direct Real Estate

Investment Returns in Nigeria

 

FEATURED PAPER

By Kalu Nwojo Awa, Jovita Nnametu and Fidelis I. Emoh, PhD

Department of Estate Management
Nnamdi Azikiwe University

Awka, Nigeria

 


 

Abstract

As the world is closing in into a global community, it has become a common practice among investors to spread their investment across the countries of the world in efforts to exploit business opportunities wherever they exist. This has been made easier by the advent of modern technologies that facilitate communication and business transaction processes. To real estate investors, their major concern is the level of returns accruable to their investments; therefore, the study is carried out to identify the global determinants of direct real estate investment returns in Nigeria. Questionnaire was used in collecting data from practicing estate surveyors and valuers resident in Abuja, Lagos and Port-Harcourt. The findings reveal that gross domestic product, unemployment rate, inflation, exchange rate (i.e. decline in domestic currency) and rate of taxation are major factors that determine direct real estate investment returns in Nigeria. Therefore, to attract more foreign direct investments in real estate sector in Nigeria, government and her relevant agencies should evolve viable policies that will effectively manage the above enumerated macroeconomics factors as well as grow the economy to make real estate investment attractive in Nigeria.

Keywords: Real estate, Investment, returns, determinants of real estate returns.

Introduction

An investment constitutes an effort that is undertaken by investor to advance money with the intention of making profit in the future. Investors may put their money into many instruments such as stock, bond, mutual fund, gold, real estate and bank deposit. Real estate investment is considered as a long term investment compared to other types of investment.

Investors may invest in income producing property and non-income producing property. When investing in income producing property, investors expect to get profit from income stream which is reflected in cash flow during the holding periods or duration of ownership.

The nature of real estate market makes it an attractive and lucrative asset for many investors. Real estate investment offers opportunities to investors who can invest directly in physical real estate or may choose to invest indirectly through managed funds. Investing directly in real estate involves purchasing the residential or commercial property for use as an income-producing property or for resale at a future time. Indirect ways to invest in the real estate market include investing in real estate investment trusts (REITs), real estate exchange traded funds (ETFs), commingled real estate funds (CREFs) and infrastructure funds. Indirect real estate investing offers pension funds and other institutional investors all of the benefits of direct property ownership while eliminating many of the drawbacks of direct ownership. In addition, indirect investing allows much greater diversification across geographic regions and real estate industry sectors, enhancing further the benefits of the asset class. Due to the higher liquidity available in the market, the lower transaction costs and lower capital requirements, average investors prefer to indirectly invest in real estate. This is noticeable in countries where real estate investment trusts are operational.

Real estate is a challenging asset class due to its unique and heterogenic character, and it is typically traded between individual buyers and sellers making real estate an illiquid and non-transparent market. However, according to Hudson-Wilson, Fabozzi, and Gordon (2003), real estate asset has wide-ranging qualities; it is a good source of diversification, and a generator of attractive risk-adjusted returns through its low risk and high Sharpe Ratio. It offers opportunities of hedging against unexpected inflation and finally, real estate is regarded a strong cash flow generator through the income component of the return. Real estate return is based on the two elements: rental income and capital appreciation, the first refers to the housing rent, and the latter refers to the appreciation of the property value over time. Furthermore, real estate asset class can be divided into different sub-segments regarding type of investment and risk profile; Geltner, Miller, Clayton and Eichholtz (2007) classified real estate types into: residential, retail, office industrial, agricultural and plus a smaller sector of hotels and recreational buildings).

Globally, the profitability of investments in any country is highly dependent on the macroeconomics of the country. Macroeconomics deals with the behaviour of the whole (aggregate) economies or economic systems instead of the behaviour of individuals, individual firms, or markets (which is the domain of Microeconomics). Macroeconomics is concerned primarily with the forecasting of national income, through the analysis of major economic factors that show predictable patterns and trends, and of their influence on one another. These factors include level of employment/unemployment, gross national product (GNP), balance of payments position, and prices (deflation or inflation). Macroeconomics also covers role of fiscal and monetary policies, economic growth, and determination of consumption and investment levels.

Macroeconomics, fiscal policy, regulations and political stability affect investment rates of return. Large fiscal deficits reduce government flexibility and may result in higher borrowing costs for businesses. A gruelling regulatory approval process can hamper business investments in different sectors. Political stability creates investor and business confidence because there is more visibility into possible investment returns. Investors tend to avoid countries that change governments frequently or have civil strife. As the dynamics of the macroeconomics factors affect investment performances, it is obvious that these factors similarly affect returns of direct real estate investment globally. Pettinger (2017) also identified interest rates, economic growth, confidence/expectations, technological developments, availability of finance from banks, others (depreciation, wage costs, inflation, government policy) as major factors that affect investments.

The study is carried out to establish the global determinants of direct real estate investment returns in Nigeria with a view to elaborate how they affect real estate returns; and the following objectives are set to be achieved:

  • to determine the returns of residential and commercial real estate investment in Nigeria.
  • to identify the major economic factors that affect direct real estate investment returns in Nigeria, and
  • to examine the impacts of the identified economic factors on direct real estate investment returns in Nigeria.

Research Questions

  • What are the returns of residential and commercial real estate investment in Nigeria?
  • what are the major economic factors that affect direct real estate investment returns in Nigeria?
  • What are the impacts of the economic factors that affect real estate investment returns on direct real estate investment investments in Nigeria?

More…

To read entire paper, click here

 

How to cite this paper: Awa, K.N., Nnametu, J., Emoh, F.I. (2019). Global Determinants of Direct Real Estate Investment Returns in Nigeria; PM World Journal, Vol. VIII, Issue X, November.  Available online at https://pmworldlibrary.net/wp-content/uploads/2019/11/pmwj87-Nov2019-Awa-Nnametu-Emoh-global-determinants-of-real-estate-returns-in-nigeria.pdf

 


 

About the Authors


Kalu N. Awa

Uyo, Nigeria

 

 

 

Kalu N. Awa is a Lecturer in the Department of Estate Management, University of Uyo, Nigeria. He holds a B. Tech. (Estate Management), M. Sc. (Estate Management) and M. Phil. (Environmental Management). He is presently running in the PhD programme in Estate Management at Nnamdi Azikiwe University, Awka, Nigeria. His research interests include Real Estate Management and Investment Portfolio Management.  He is an Associate member of The Nigerian Institution of Estate Surveyors and Valuers (NIESV) and a registered member of Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON). Kalu Awa can be contacted at kalunwojo4@gmail.com

 


Esv Jovita. N. Nnametu

Imo State, Nigeria.

 

 

 

Esv Jovita. N. Nnametu is a Lecturer and Head of Department in Estate Management and Valuation, Imo State Polytechnic, Umuagwo Ohaji. She has B.Sc and M.sc in Estate management and is currently rounding up her PhD research in Real Estate Investment Analysis  at Nnamdi Azikiwe University, Awka Anambra State, Nigeria. She has a career centred on teaching, training and mentoring of students for many years. She has published many journal articles and presented papers in both local and international conferences. Jovita is an active member of her local and international professional bodies and currently an Examiner for the professional body. She can be contacted on jnnametu@yahoo.co.uk.

 


Fidelis Ifeanyi Emoh

Imo State, Nigeria

 

 

 

Fidelis Ifeanyi Emoh, B.Sc. M.Sc. Ph.D. (Estate Management), PGD, MBA (Banking & Finance), FNIVS, MNIM, FIMC, CMC, is a Professor of Real Estate and Valuation in the Department of Estate Management at Nnamdi Azikiwe University in Awka, Nigeria.

 

 

%d bloggers like this: