1) Inefficient budget execution can occur when line ministries and executing entities desire to increase project scales or divert funds for personal purposes. Strong monitoring, evaluation, and sanctions are needed to prevent this.
2) Korea uses various M&E methods like external supervision, feasibility reassessments, total project cost management, and budget waste reporting systems. Sanctions for noncompliance include budget cuts, salary reductions, and project cancellations.
3) Effective M&E faces challenges like difficulty monitoring some projects and reluctance to impose sanctions. However, counteractions are important to ensure projects are completed as planned and launch new efficient projects.
1) The document discusses issues with inefficient budget execution and ways to strengthen monitoring and evaluation (M&E) methods, using Korea as an example.
2) Key M&E methods in Korea include external supervision of projects, reassessing feasibility if costs increase by more than 20%, managing total project costs with sanctions for violations, and a budget waste reporting system open to public monitoring.
3) Challenges include difficulty monitoring some projects, reluctance to impose sanctions, and determining when restrictions are desirable versus hindering progress. Effective M&E with countermeasures is important to ensure projects are implemented as planned.
The document discusses the need for a socio-economic module (SEM) in the Carbon Benefits Project (CBP) to standardize the assessment of socio-economic impacts and carbon benefits of GEF projects. The SEM would develop tools to quantify carbon stocks and greenhouse gas emissions, monitor changes, and assess socio-economic benefits. It would include testing the methodology on existing GEF projects, building capacity, and designing accessible tools and guidance for project managers. The overall goal is for the SEM to help the GEF rigorously demonstrate the global environment and socio-economic benefits of its investments.
Europeana Cloud - Progress and Financial ReportingEuropeana
This document provides guidance on progress and financial reporting for a EU-funded cloud computing project. It outlines that MDR Partners is responsible for project management, reporting to the European Commission, and performance monitoring. Progress reports are due quarterly from all consortium members and must provide a summary of activities, results, deviations, and corrective actions. Financial reports require tracking eligible personnel, subcontracting, and other direct costs. Reimbursement is 80% of eligible expenses. Non-eligible costs include VAT, overhead, and costs already reimbursed by other projects.
The document proposes a new methodology to assess the impact of air navigation research, development, and innovation projects funded by the European Union. It aims to evaluate these projects' impact on EU policy objectives and air navigation system performance. The methodology would qualitatively relate changes in key performance indicators to funding levels for different policy objectives over time. It would also account for external events affecting aviation. An initial validation of the methodology using data from 1995 to 2016 found that EU funding positively contributes to policy goals, though goals are seldom fully achieved. External events can significantly impact air navigation system performance. The next steps are to further validate the methodology by applying it to more projects and considering implementation impacts.
This document discusses economic analysis and cost-benefit analysis for evaluating project development. It outlines the key phases and steps involved, including defining objectives, identifying and valuing costs and benefits, and comparing costs and benefits. For cost-benefit analysis specifically, it details the steps of identifying and valuing project costs and benefits in terms of economic prices, performing present value comparisons of costs and benefits, and selecting projects based on economic feasibility indicators and sensitivity analysis. Limitations are noted for applying economic analysis to certain social sector projects and those supporting multiple development objectives.
The document discusses the Instrument for Pre-Accession Assistance (IPA), an EU program that provides funding and technical assistance to accession countries. It has 5 components that focus on institutional building, cross-border cooperation, regional development, human resources, and rural development.
IPA implementation involves a multi-annual financial framework, indicative planning documents by country and component, and specific programming at the country and component levels. Management can be centralized, decentralized, joint, or shared. The goal is fully decentralized management with only ex-post Commission control. Access to regional, human resource, and rural development funds requires decentralized management be in place. Projects must comply with procurement rules, operational program priorities, relevant EU directives, and co
Artur Runge-Metzger, Director for climate strategy and international negotiat...European Journalism Centre
The document summarizes the outcomes of the COP16/CMP6 climate conference in Cancun and discusses next steps. It notes that Cancun delivered a balanced package that addressed key issues, anchored pledges, and established governance structures. However, it left some gaps around legal form, ambition levels, and long-term finance. In 2011, parties should focus on implementing pledges and operationalizing Cancun agreements, while also working to close remaining gaps and negotiate a legally binding framework. The EU is on track domestically but more work is needed globally to limit warming to 2 degrees and transition to low-carbon economies.
1) The document discusses issues with inefficient budget execution and ways to strengthen monitoring and evaluation (M&E) methods, using Korea as an example.
2) Key M&E methods in Korea include external supervision of projects, reassessing feasibility if costs increase by more than 20%, managing total project costs with sanctions for violations, and a budget waste reporting system open to public monitoring.
3) Challenges include difficulty monitoring some projects, reluctance to impose sanctions, and determining when restrictions are desirable versus hindering progress. Effective M&E with countermeasures is important to ensure projects are implemented as planned.
The document discusses the need for a socio-economic module (SEM) in the Carbon Benefits Project (CBP) to standardize the assessment of socio-economic impacts and carbon benefits of GEF projects. The SEM would develop tools to quantify carbon stocks and greenhouse gas emissions, monitor changes, and assess socio-economic benefits. It would include testing the methodology on existing GEF projects, building capacity, and designing accessible tools and guidance for project managers. The overall goal is for the SEM to help the GEF rigorously demonstrate the global environment and socio-economic benefits of its investments.
Europeana Cloud - Progress and Financial ReportingEuropeana
This document provides guidance on progress and financial reporting for a EU-funded cloud computing project. It outlines that MDR Partners is responsible for project management, reporting to the European Commission, and performance monitoring. Progress reports are due quarterly from all consortium members and must provide a summary of activities, results, deviations, and corrective actions. Financial reports require tracking eligible personnel, subcontracting, and other direct costs. Reimbursement is 80% of eligible expenses. Non-eligible costs include VAT, overhead, and costs already reimbursed by other projects.
The document proposes a new methodology to assess the impact of air navigation research, development, and innovation projects funded by the European Union. It aims to evaluate these projects' impact on EU policy objectives and air navigation system performance. The methodology would qualitatively relate changes in key performance indicators to funding levels for different policy objectives over time. It would also account for external events affecting aviation. An initial validation of the methodology using data from 1995 to 2016 found that EU funding positively contributes to policy goals, though goals are seldom fully achieved. External events can significantly impact air navigation system performance. The next steps are to further validate the methodology by applying it to more projects and considering implementation impacts.
This document discusses economic analysis and cost-benefit analysis for evaluating project development. It outlines the key phases and steps involved, including defining objectives, identifying and valuing costs and benefits, and comparing costs and benefits. For cost-benefit analysis specifically, it details the steps of identifying and valuing project costs and benefits in terms of economic prices, performing present value comparisons of costs and benefits, and selecting projects based on economic feasibility indicators and sensitivity analysis. Limitations are noted for applying economic analysis to certain social sector projects and those supporting multiple development objectives.
The document discusses the Instrument for Pre-Accession Assistance (IPA), an EU program that provides funding and technical assistance to accession countries. It has 5 components that focus on institutional building, cross-border cooperation, regional development, human resources, and rural development.
IPA implementation involves a multi-annual financial framework, indicative planning documents by country and component, and specific programming at the country and component levels. Management can be centralized, decentralized, joint, or shared. The goal is fully decentralized management with only ex-post Commission control. Access to regional, human resource, and rural development funds requires decentralized management be in place. Projects must comply with procurement rules, operational program priorities, relevant EU directives, and co
Artur Runge-Metzger, Director for climate strategy and international negotiat...European Journalism Centre
The document summarizes the outcomes of the COP16/CMP6 climate conference in Cancun and discusses next steps. It notes that Cancun delivered a balanced package that addressed key issues, anchored pledges, and established governance structures. However, it left some gaps around legal form, ambition levels, and long-term finance. In 2011, parties should focus on implementing pledges and operationalizing Cancun agreements, while also working to close remaining gaps and negotiate a legally binding framework. The EU is on track domestically but more work is needed globally to limit warming to 2 degrees and transition to low-carbon economies.
This document provides an analysis of the film "Nothing is Simple" by Cynthia Freeland. It summarizes key themes and events in the film. The film explores the objectification of women and how the two main male characters, Benigno and Marco, view and treat the two comatose female patients differently. It also analyzes the symbolic meaning and role of the dance sequences that bookend the film. The film ultimately examines the tragedy of the women's conditions contrasted with the relationship and struggles of the two male leads.
This document provides an analysis of the film "Volver" and discusses several key themes:
1) It examines the film's treatment of women, including the objectification of women and how some characters see the comatose women as people rather than objects.
2) It analyzes the symbolic importance of the dance sequences that bookend the film and the different emotional reactions they elicit.
3) It discusses how the film depicts the tragedy of what befalls the two main female characters and how this allows the story of the friendship and loss of the two male characters to unfold.
4) It looks at how the film communicates through the animated bodies of the two women and how their states change before
This document provides an analysis of the film "Volver" and discusses several key themes:
1) It examines the treatment of women in the film, including the problem of objectification and how the character Benigno sees the comatose women as people rather than objects.
2) It analyzes the important dance sequences that bookend the film and their symbolic meaning, including foreshadowing the suffering of the women and the men's struggles to help them.
3) It discusses how the film depicts the tragedy of what befalls the two women and how this allows the story of the men's friendship and loss to unfold.
This document discusses themes in the film "Nothing is Simple" including the objectification of women, treatment of female characters, and the symbolism of dance sequences. It notes that some feminists argue that men often objectify and treat women as objects rather than people. Two male characters, Benigno and Marco, treat the two comatose female patients differently - Benigno sees them as people while Marco finds one woman's body disgusting after she is raped. Dance sequences bookend the film and represent its themes of suffering, sadness and attempts by men to care for women. The document also analyzes how the film portrays communication through the animated bodies of the female characters and challenges the audience's interpretation.
PPP developments in Korea - Youngsob Yoo & Hojun Lee, KoreaOECD Governance
This presentation was made by Youngsob Yoo & Hojun Lee, Korea, at the 8th meeting of Senior Public-Private Partnerships and Infrastructure Officials held in Paris on 23-24 March 2015.
The document summarizes key aspects of environmental impact assessments in India. It discusses how EIA aims to identify environmental, social and economic impacts of projects prior to decision making. It outlines India's history with EIAs, the 2006 amendment that classified projects into categories, and proposed changes in the 2020 draft including reduced public hearing time, exemption of certain projects, and allowing post-facto clearances. Issues raised with the 2020 draft include potentially encouraging violations and weakening public engagement in favor of government discretion.
Climate finance - K. Enting (kfw) CCXG GF March 2014OECD Environment
This document summarizes lessons learned from KfW Development Bank's experience replicating and scaling up climate finance programs.
[1] Green credit lines that provide long-term financing to local banks for lending to SMEs and households for climate-related investments have proven efficient at mobilizing private climate finance. However, impact measurement needs standardization.
[2] Success requires programs be part of a promotional system including regulations, information, and technical standards. Financial sustainability depends on market acceptance and subsidy phase-out.
[3] Case studies show credit lines in India improved energy efficiency in housing, while PPP wind projects in Morocco benefited from long-term government commitment and cooperation.
PPT_for_states_reforms scheme which is very important aspect.pdfRajneesh40
The document summarizes the key details of the Revamped Distribution Sector Scheme announced in the 2021-22 budget. The scheme will have an outlay of INR 3.03 lakh crore over 5 years to improve the financial and operational efficiency of power distribution companies in India. It focuses on infrastructure creation, including metering and feeder separation, as well as reforms linked to reducing losses and improving reliability. Funding under the scheme will be linked to performance and results achieved by the distribution companies against targets set for parameters like loss reduction and supply quality improvements.
The Joint Research Centre (JRC) provides scientific and technical support to the Covenant of Mayors (CoM) initiative in several key ways:
(1) Developing guidance for Sustainable Energy Action Plans (SEAPs) and evaluating submitted SEAPs, (2) Operating a technical helpdesk service, and (3) Analyzing SEAPs developed by Coordinating Territorial Covenants (CTCs) using a grouped approach. The JRC has evaluated over 3,400 SEAPs submitted so far and provides detailed feedback reports identifying strengths and weaknesses to help cities improve their plans. Common weaknesses include a lack of clarity on emissions reduction targets and poorly documented data collection processes.
This document discusses benefit-cost analysis for public sector projects. It defines key terms like costs, benefits, and dis-benefits. It explains that the conventional B/C ratio compares benefits minus dis-benefits to costs. A modified B/C ratio includes maintenance and operation costs in the numerator. It provides examples of calculating B/C ratios for single projects and using the incremental B/C method to select between alternatives. Engineers must consider ethical issues when involved in public policy making and planning projects.
This document outlines an agenda and objectives for a meeting on fiscal consolidation and policy review. It discusses the need for fiscal consolidation due to declining oil production and prices. The main objective of the fiscal consolidation program is to put the budget on a sustainable path and accelerate economic diversification, with targets to double fees and reduce the budget deficit. A policy review will identify structural, policy, and process reforms through analyzing programs, costs, subsidies and fees. The meeting aims to ensure the policy review and fiscal consolidation program stay on track to meet deadlines and expected results. Ministries are expected to refocus on core activities, reformulate policies, improve efficiency, and identify areas for outsourcing, privatization or cost-cutting.
This document summarizes a presentation on project governance. It introduces key concepts of governance including structure, roles, principles and case studies. It discusses the importance of governance, defines related terms, and outlines the roles of the project sponsor and governance board. Examples are given of both successful and failed governance through case studies. Attendees are encouraged to get involved with the Governance SIG to further their knowledge.
Delivering major projects in government presentation,
Joanna Lewis & Chris Battersby,
London
23rd June 2016
The APM Benefits Summit.
APM Benefits Management SIG.
This document discusses opportunities to improve major transportation projects in the Bay Area through two initiatives:
1. Transit 2050+, a connected network plan that would establish a long-term vision and priorities for regional transit to guide project selection.
2. The Major Project Advancement Policy (MAP) used by MTC to sequence funding for large projects. The MAP could be strengthened over time through progressive stage gates to better manage risks and ensure policy alignment as projects develop.
Regional planning efforts should focus first on developing a service-based vision through Transit 2050+ before prioritizing individual projects to deliver that vision. Close coordination is needed between Transit 2050+ and the MAP to advance the right projects. Advocacy
The document provides guidelines for agencies in formulating their FY 2024 budgets under the Two-Tier Budgeting Approach. Tier 1 budgets will fund existing programs and projects, while Tier 2 budgets can include new proposals that are priorities under the administration's 8-Point Socioeconomic Agenda. Eligible Tier 2 proposals must be implementation-ready, aligned with infrastructure plans, and approved by the NEDA Board. Agencies must justify any requests for additional personnel.
1) The document discusses quality statistics and notifications from an MRM-06 review in March 2022. It outlines 5 ongoing action items around monitoring project quality objectives, CBT examination for QC inspectors, QC resource provision, checklist creation for QC personnel, and identifying new risks.
2) Statistics show overall cumulative PQI of 95% for March 2022 meeting the target above 90%. Most document submittals were accepted with comments at 19% while rejections were at 14%. Common violations and INCRs related to planning and control.
3) Notifications include 1 SA, 4 WS, 170 INCRs issued. The INCR ratio is 1:34 compared to the SALBE
This document is a progress report on the implementation of San Luis Obispo's 2012 Climate Action Plan. It identifies the near-term greenhouse gas reduction strategies and which city departments are responsible for each. It then provides updates on the status of various implementation measures, noting what progress has been made and recommendations to help overcome obstacles. Key actions discussed include expanding energy efficiency programs, encouraging alternative vehicles and renewable energy, improving the jobs-housing balance, and allowing for increased density and affordable housing near jobs. Overall implementation of the plan is progressing, but could benefit from assigning a dedicated team to coordinate efforts.
This document provides an analysis of the film "Nothing is Simple" by Cynthia Freeland. It summarizes key themes and events in the film. The film explores the objectification of women and how the two main male characters, Benigno and Marco, view and treat the two comatose female patients differently. It also analyzes the symbolic meaning and role of the dance sequences that bookend the film. The film ultimately examines the tragedy of the women's conditions contrasted with the relationship and struggles of the two male leads.
This document provides an analysis of the film "Volver" and discusses several key themes:
1) It examines the film's treatment of women, including the objectification of women and how some characters see the comatose women as people rather than objects.
2) It analyzes the symbolic importance of the dance sequences that bookend the film and the different emotional reactions they elicit.
3) It discusses how the film depicts the tragedy of what befalls the two main female characters and how this allows the story of the friendship and loss of the two male characters to unfold.
4) It looks at how the film communicates through the animated bodies of the two women and how their states change before
This document provides an analysis of the film "Volver" and discusses several key themes:
1) It examines the treatment of women in the film, including the problem of objectification and how the character Benigno sees the comatose women as people rather than objects.
2) It analyzes the important dance sequences that bookend the film and their symbolic meaning, including foreshadowing the suffering of the women and the men's struggles to help them.
3) It discusses how the film depicts the tragedy of what befalls the two women and how this allows the story of the men's friendship and loss to unfold.
This document discusses themes in the film "Nothing is Simple" including the objectification of women, treatment of female characters, and the symbolism of dance sequences. It notes that some feminists argue that men often objectify and treat women as objects rather than people. Two male characters, Benigno and Marco, treat the two comatose female patients differently - Benigno sees them as people while Marco finds one woman's body disgusting after she is raped. Dance sequences bookend the film and represent its themes of suffering, sadness and attempts by men to care for women. The document also analyzes how the film portrays communication through the animated bodies of the female characters and challenges the audience's interpretation.
PPP developments in Korea - Youngsob Yoo & Hojun Lee, KoreaOECD Governance
This presentation was made by Youngsob Yoo & Hojun Lee, Korea, at the 8th meeting of Senior Public-Private Partnerships and Infrastructure Officials held in Paris on 23-24 March 2015.
The document summarizes key aspects of environmental impact assessments in India. It discusses how EIA aims to identify environmental, social and economic impacts of projects prior to decision making. It outlines India's history with EIAs, the 2006 amendment that classified projects into categories, and proposed changes in the 2020 draft including reduced public hearing time, exemption of certain projects, and allowing post-facto clearances. Issues raised with the 2020 draft include potentially encouraging violations and weakening public engagement in favor of government discretion.
Climate finance - K. Enting (kfw) CCXG GF March 2014OECD Environment
This document summarizes lessons learned from KfW Development Bank's experience replicating and scaling up climate finance programs.
[1] Green credit lines that provide long-term financing to local banks for lending to SMEs and households for climate-related investments have proven efficient at mobilizing private climate finance. However, impact measurement needs standardization.
[2] Success requires programs be part of a promotional system including regulations, information, and technical standards. Financial sustainability depends on market acceptance and subsidy phase-out.
[3] Case studies show credit lines in India improved energy efficiency in housing, while PPP wind projects in Morocco benefited from long-term government commitment and cooperation.
PPT_for_states_reforms scheme which is very important aspect.pdfRajneesh40
The document summarizes the key details of the Revamped Distribution Sector Scheme announced in the 2021-22 budget. The scheme will have an outlay of INR 3.03 lakh crore over 5 years to improve the financial and operational efficiency of power distribution companies in India. It focuses on infrastructure creation, including metering and feeder separation, as well as reforms linked to reducing losses and improving reliability. Funding under the scheme will be linked to performance and results achieved by the distribution companies against targets set for parameters like loss reduction and supply quality improvements.
The Joint Research Centre (JRC) provides scientific and technical support to the Covenant of Mayors (CoM) initiative in several key ways:
(1) Developing guidance for Sustainable Energy Action Plans (SEAPs) and evaluating submitted SEAPs, (2) Operating a technical helpdesk service, and (3) Analyzing SEAPs developed by Coordinating Territorial Covenants (CTCs) using a grouped approach. The JRC has evaluated over 3,400 SEAPs submitted so far and provides detailed feedback reports identifying strengths and weaknesses to help cities improve their plans. Common weaknesses include a lack of clarity on emissions reduction targets and poorly documented data collection processes.
This document discusses benefit-cost analysis for public sector projects. It defines key terms like costs, benefits, and dis-benefits. It explains that the conventional B/C ratio compares benefits minus dis-benefits to costs. A modified B/C ratio includes maintenance and operation costs in the numerator. It provides examples of calculating B/C ratios for single projects and using the incremental B/C method to select between alternatives. Engineers must consider ethical issues when involved in public policy making and planning projects.
This document outlines an agenda and objectives for a meeting on fiscal consolidation and policy review. It discusses the need for fiscal consolidation due to declining oil production and prices. The main objective of the fiscal consolidation program is to put the budget on a sustainable path and accelerate economic diversification, with targets to double fees and reduce the budget deficit. A policy review will identify structural, policy, and process reforms through analyzing programs, costs, subsidies and fees. The meeting aims to ensure the policy review and fiscal consolidation program stay on track to meet deadlines and expected results. Ministries are expected to refocus on core activities, reformulate policies, improve efficiency, and identify areas for outsourcing, privatization or cost-cutting.
This document summarizes a presentation on project governance. It introduces key concepts of governance including structure, roles, principles and case studies. It discusses the importance of governance, defines related terms, and outlines the roles of the project sponsor and governance board. Examples are given of both successful and failed governance through case studies. Attendees are encouraged to get involved with the Governance SIG to further their knowledge.
Delivering major projects in government presentation,
Joanna Lewis & Chris Battersby,
London
23rd June 2016
The APM Benefits Summit.
APM Benefits Management SIG.
This document discusses opportunities to improve major transportation projects in the Bay Area through two initiatives:
1. Transit 2050+, a connected network plan that would establish a long-term vision and priorities for regional transit to guide project selection.
2. The Major Project Advancement Policy (MAP) used by MTC to sequence funding for large projects. The MAP could be strengthened over time through progressive stage gates to better manage risks and ensure policy alignment as projects develop.
Regional planning efforts should focus first on developing a service-based vision through Transit 2050+ before prioritizing individual projects to deliver that vision. Close coordination is needed between Transit 2050+ and the MAP to advance the right projects. Advocacy
The document provides guidelines for agencies in formulating their FY 2024 budgets under the Two-Tier Budgeting Approach. Tier 1 budgets will fund existing programs and projects, while Tier 2 budgets can include new proposals that are priorities under the administration's 8-Point Socioeconomic Agenda. Eligible Tier 2 proposals must be implementation-ready, aligned with infrastructure plans, and approved by the NEDA Board. Agencies must justify any requests for additional personnel.
1) The document discusses quality statistics and notifications from an MRM-06 review in March 2022. It outlines 5 ongoing action items around monitoring project quality objectives, CBT examination for QC inspectors, QC resource provision, checklist creation for QC personnel, and identifying new risks.
2) Statistics show overall cumulative PQI of 95% for March 2022 meeting the target above 90%. Most document submittals were accepted with comments at 19% while rejections were at 14%. Common violations and INCRs related to planning and control.
3) Notifications include 1 SA, 4 WS, 170 INCRs issued. The INCR ratio is 1:34 compared to the SALBE
This document is a progress report on the implementation of San Luis Obispo's 2012 Climate Action Plan. It identifies the near-term greenhouse gas reduction strategies and which city departments are responsible for each. It then provides updates on the status of various implementation measures, noting what progress has been made and recommendations to help overcome obstacles. Key actions discussed include expanding energy efficiency programs, encouraging alternative vehicles and renewable energy, improving the jobs-housing balance, and allowing for increased density and affordable housing near jobs. Overall implementation of the plan is progressing, but could benefit from assigning a dedicated team to coordinate efforts.
Performance Budgeting: Lessons and Challenges from Korea by Jangro LeeOECD Governance
Presentation by Jangro Lee at the 10th annual meeting of the Senior Budget Officials Performance and Results Network held on 24-25 November 2014. Find more information at http://www.oecd.org/gov/budgeting
The document summarizes the seven steps to real estate investments and financing using public-private partnerships (PPPs), as presented at a real estate conference in Turkey. It begins with an introduction and definitions of key terms. The seven steps are then outlined and include: ensuring PPP expertise, assessing the macroeconomic and environmental impacts, evaluating project risks, structuring the financing, conducting feasibility studies, preparing cash flow statements, and ensuring good corporate governance. Two case studies of successful PPP projects are provided: the Lekki Toll Road project in Nigeria and the Ji'nan Wastewater Treatment project in China. The presentation concludes that following PPP best practices can effectively deliver infrastructure projects that benefit both the public and private sectors.
The World Bank's framework for assessing PIM systems - Anand Rajaram, World B...OECD Governance
The document summarizes a presentation on public investment management (PIM) systems given by Anand Rajaram of the World Bank. It discusses key questions around public investment and introduces a framework for assessing PIM systems. Examples are provided of advanced PIM systems in countries like the UK and emerging systems in countries like Vietnam and Sierra Leone. The document concludes that while calls for more public investment are growing, attention must also be paid to strengthening PIM institutions to ensure funds are well spent.
The document discusses a cash flow report generated in MS Project for a toll administration block construction project. It defines what a cash flow report is, explaining that it shows how a company spends its money over time. The document then discusses why cash flow reports are important for informing readers about a project's cash position and finances. It provides steps to generate a cash flow report and graph in MS Project for a case study project that is 54% complete. The conclusion emphasizes that cash flow reports provide useful information about project spending and future funding needs.
Este documento describe las asociaciones público-privadas (APP) como un instrumento para fomentar la inversión privada eficiente en infraestructura y servicios públicos de alta calidad. Explica las características de los esquemas tradicionales de obras públicas y cómo las APP ofrecen mayor seguridad, eficiencia y calidad a largo plazo. También destaca prácticas clave para el éxito de las APP como la asignación adecuada de riesgos, la generación de competencia y el aprovechamiento de la experi
El documento habla sobre la producción pública en Costa Rica. Define la producción pública como los bienes y servicios que produce el sector público con el propósito de garantizar o modificar situaciones sociales según la política de un gobierno. Explica que las instituciones públicas transforman insumos en productos y servicios que entregan a la población para lograr objetivos de política. También analiza la evolución del número de instituciones del sector público costarricense entre 2005-2014 y su clasificación según naturaleza jurídica.
El documento resume el XLI Seminario Internacional de Presupuesto Público que se llevará a cabo el 8 de mayo de 2014 en Antigua Guatemala. El seminario discutirá los desafíos actuales del sector público como la escasez de recursos, la necesidad de equidad y eficiencia, y la transparencia. También se presentará el Sistema Público de Información y Reportes para mejorar la rendición de cuentas a través de la publicación en línea de bienes y servicios por institución y programa. El seminario concluirá
Este documento trata sobre la producción pública en Guatemala. Resume cuatro puntos principales: 1) define la producción pública y las actividades del estado, 2) explica las causas y efectos de la evolución de la producción pública, como la estabilidad macroeconómica y la equidad, 3) describe cómo se organizan los recursos públicos a través de la planificación y el presupuesto para cumplir las metas estratégicas, y 4) enfatiza la importancia de evaluar los resultados de la producción pública para mejorar la gestión y rend
El documento describe la producción pública en El Salvador, incluyendo su definición, evolución histórica, organización de recursos y empresas públicas existentes. Explica que la producción pública comprende la producción de bienes y servicios por empresas públicas para satisfacer necesidades del mercado. También describe las causas y efectos de la privatización parcial de empresas en los años 90, así como los objetivos y características de las empresas públicas restantes como la LNB, CEL, ANDA y CEPA.
Este documento describe el cálculo de costos de los servicios de salud pública en la República Dominicana. Explica el sistema nacional de salud dominicano y sus objetivos de apoyar el presupuesto por programas, mejorar la asignación de recursos y fortalecer la planificación presupuestaria. También detalla la metodología de cálculo de costos, incluyendo la definición de centros de costos, objetos de costos, imputación y distribución de costos.
1) Welfare spending is a major part of Germany's federal budget, accounting for around 49.5% of total expenditure in 2013. This includes pension insurance payments, labour market policy payments like unemployment benefits, and family-related expenditures.
2) The German welfare state was established in the 19th century and is shaped by non-governmental institutions and self-governing bodies. It aims to provide social security and integration while maintaining as little government involvement as possible.
3) Reforms are ongoing to ensure the sustainability of the welfare system for future generations in light of challenges like an aging population. Social welfare and economic momentum must be balanced with individual needs.
El documento discute la planificación estratégica participativa en Perú, incluyendo los resultados, problemas y posibles soluciones. Explica las fases del proceso de planificación estratégica y su vinculación con el presupuesto público a nivel nacional, regional y local. También describe los principales problemas como la falta de asistencia técnica y la desactualización de los planes de desarrollo concertados a nivel municipal.
El documento describe los esfuerzos recientes en la República Dominicana para establecer mecanismos de participación social en la planificación y el presupuesto público a través de leyes y otros instrumentos normativos. Se han logrado avances como la elaboración participativa de la Estrategia Nacional de Desarrollo y el Pacto por la Educación, pero aún quedan desafíos como mejorar la articulación entre la planificación, el presupuesto y los planes sectoriales.
Este documento discute la participación social en la planificación y presupuesto públicos. Resalta las características y beneficios de los presupuestos participativos, incluyendo la transparencia, participación universal y enfoque de género. También analiza los resultados y problemas de esta práctica, destacando avances en Brasil, Argentina y Ecuador. Recomienda mejorar la comunicación entre autoridades y actores sociales para lograr acuerdos que impulsen cambios significativos.
Este documento describe la evolución de la producción pública en Costa Rica desde la época de los mayas hasta el presente. Comenzando con los mayas, quienes producían bienes y servicios para satisfacer las necesidades de la élite gobernante. Luego pasando por la época colonial bajo el Imperio Español y la Capitanía General de Guatemala, hasta alcanzar la independencia en 1821. Finalmente, describe el desarrollo del sector público costarricense moderno y sus 328 instituciones en la actualidad.
El Organismo Judicial obtuvo mayores ingresos en 2013 que en 2012. Los ingresos totales en 2013 fueron de Q1,646.82 millones, Q163.99 millones más que en 2012. Los mayores incrementos se dieron en Ingresos No Tributarios, Rentas de la Propiedad y Transferencias Corrientes. La principal fuente de financiamiento fueron las Transferencias Corrientes del Sector Público.
Este documento discute la planificación y presupuestación como instrumentos para promover el desarrollo territorial equilibrado. Señala que estos instrumentos tienen un papel limitado al enfocarse demasiado en lo sectorial y poblacional en lugar de incorporar la dimensión territorial. Propone adaptar la institucionalidad para responder a la heterogeneidad de los territorios, promover estrategias de desarrollo territorial que vinculen ordenamiento con desarrollo, y rediseñar la oferta pública para lograr mayores impactos focalizados considerando las condiciones regional
El documento discute la vinculación entre la planificación y el presupuesto en Guatemala y cómo ha mejorado recientemente. Anteriormente, las entidades trabajaban de forma aislada sin comunicación efectiva. Ahora, se ha avanzado hacia la implementación de la gestión basada en resultados, con 11 resultados estratégicos definidos y un sistema de seguimiento. El 99% de la inversión programada para 2014 está orientada a los pactos de gobierno y resultados estratégicos.
Este documento discute la planificación y presupuestación como instrumentos para promover el desarrollo territorial equilibrado. Señala que estos instrumentos tienen un papel limitado al enfocarse demasiado en lo sectorial y poblacional en lugar de incorporar la dimensión territorial. Propone adaptar la institucionalidad para responder a la heterogeneidad de los territorios, promover estrategias de desarrollo territorial que vinculen ordenamiento con desarrollo, y transitar de un enfoque sectorial a uno territorial.
El documento discute si es necesario modificar los roles de los poderes públicos y órganos de control en Uruguay bajo el nuevo modelo de gestión por resultados en materia de planificación, presupuesto y administración de recursos. Señala que la Constitución establece los roles actuales del Poder Ejecutivo, Legislativo y Tribunal de Cuentas, y que el Ejecutivo ha logrado avances en la implementación de un presupuesto orientado a resultados a pesar de algunas limitaciones. También destaca desafíos como optimizar la planificación y for
Este documento resume la experiencia de Córdoba, Argentina en implementar un nuevo modelo de gestión pública basado en resultados. El modelo se centra en hacer que el gobierno sea más transparente, participativo y colaborativo. Incluye iniciativas como un portal de transparencia con información fiscal actualizada, un sistema integrado para la administración financiera, servicios tributarios en línea, y reportes de sustentabilidad. El objetivo es mejorar la rendición de cuentas y la calidad del gasto público.
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3) Los órganos de control deben enfocarse en verificar el cumplimiento de resultados y la satisfacción de demandas ciudadanas, incorporando criterios de economía, eficiencia y eficacia.
El documento discute la necesidad de modificar los roles de los poderes públicos y órganos de control en Costa Rica para adoptar un nuevo modelo de gestión basado en resultados. Actualmente, el presupuesto se basa en insumos pero se propone cambiar a un enfoque de productos, resultados e impactos. Esto requiere que el gobierno, congreso, órganos de control y sociedad cambien sus funciones en las etapas de planificación, formulación, aprobación, ejecución y evaluación del presupuesto para enfocarse en los resultados obtenidos
Este documento discute la disponibilidad y calidad de la información financiera del sector público de Guatemala. Señala que la información disponible actualmente es dispersa y no está consolidada de acuerdo con estándares internacionales. Adoptar las Normas Internacionales de Contabilidad para el Sector Público podría proporcionar información financiera más confiable, comparable y oportuna. También destaca la necesidad de mayor transparencia y uniformidad en los informes financieros del gobierno.
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The Power of Community Newsletters: A Case Study from Wolverton and Greenleys...Scribe
YOU WILL DISCOVER:
The engaging history and evolution of Wolverton and Greenleys Town Council's newsletter
Strategies for producing a successful community newsletter and generating income through advertising
The decision-making process behind moving newsletter design from in-house to outsourcing and its impacts
Dive into the success story of Wolverton and Greenleys Town Council's newsletter in this insightful webinar. Hear from Mandy Shipp and Jemma English about the newsletter's journey from its inception to becoming a vital part of their community's communication, including its history, production process, and revenue generation through advertising. Discover the reasons behind outsourcing its design and the benefits this brought. Ideal for anyone involved in community engagement or interested in starting their own newsletter.
Causes Supporting Charity for Elderly PeopleSERUDS INDIA
Around 52% of the elder populations in India are living in poverty and poor health problems. In this technological world, they became very backward without having any knowledge about technology. So they’re dependent on working hard for their daily earnings, they’re physically very weak. Thus charity organizations are made to help and raise them and also to give them hope to live.
Donate Us:
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FT author
Amanda Chu
US Energy Reporter
PREMIUM
June 20 2024
Good morning and welcome back to Energy Source, coming to you from New York, where the city swelters in its first heatwave of the season.
Nearly 80 million people were under alerts in the US north-east and midwest yesterday as temperatures in some municipalities reached record highs in a test to the country’s rickety power grid.
In other news, the Financial Times has a new Big Read this morning on Russia’s grip on nuclear power. Despite sanctions on its economy, the Kremlin continues to be an unrivalled exporter of nuclear power plants, building more than half of all reactors under construction globally. Read how Moscow is using these projects to wield global influence.
Today’s Energy Source dives into the latest Statistical Review of World Energy, the industry’s annual stocktake of global energy consumption. The report was published for more than 70 years by BP before it was passed over to the Energy Institute last year. The oil major remains a contributor.
Data Drill looks at a new analysis from the World Bank showing gas flaring is at a four-year high.
Thanks for reading,
Amanda
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New report offers sobering view of the energy transition
Every year the Statistical Review of World Energy offers a behemoth of data on the state of the global energy market. This year’s findings highlight the world’s insatiable demand for energy and the need to speed up the pace of decarbonisation.
Here are our four main takeaways from this year’s report:
Fossil fuel consumption — and emissions — are at record highs
Countries burnt record amounts of oil and coal last year, sending global fossil fuel consumption and emissions to all-time highs, the Energy Institute reported. Oil demand grew 2.6 per cent, surpassing 100mn barrels per day for the first time.
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Presentation by Julie Topoleski, CBO’s Director of Labor, Income Security, and Long-Term Analysis, at the 16th Annual Meeting of the OECD Working Party of Parliamentary Budget Officials and Independent Fiscal Institutions.
1. 1
What can we do?What can we do?
against inefficient budget executionagainst inefficient budget execution
May. 6, 2014
Seongbak Wi
Ministry of Strategy and Finance, Korea
Secondee to Inter-American Development Bank
2. 2
Ⅰ Raising an issue
Contents
Ⅱ M&E in Korea and strengthening the method
Ⅲ Challenges and remarks
4. 4
세계경제 전망 (%)
Object of budget
Budget a bridge and no output
No monitoring, no sanction
1. Raising an issue
Ⅰ. Raising an issue
5. 5
세계경제 전망 (%)
Request a building construction
Cost : US$9 -> US$15 -> US$ 30
1. Raising an issue
Ⅰ. Raising an issue
6. 6
세계경제 전망 (%)
1. Raising an issue
M&E helps projects implemented as planned and budgeted.
- Line ministries and executing entities have desire to increase the scale
of projects or to use money for personal purpose
For M&E to be effective, we need some strong methods, such as
sanctions against bad executions.
Ⅰ. Raising an issue
8. 8
세계경제 전망 (%)
1. External supervision of project Execution
Ⅱ. M&E in Korea and strengthening the method
▶ Project execution is supervised by government
- payment will be done after checking the process and proof.
▶ Administration of Audit and Inspection :
- fire-off, cut in salary, warning, …
▶ Prosecutors ,
- imprisonment, fine
▶ Parliament and people’s monitoring
9. 9
세계경제 전망 (%)
Ⅱ . M&E in Korea and strengthening the method
▶ Existence of output
vs
▶Feasibility and Efficiency
10. 10
세계경제 전망 (%)
2. Re-assessment of Feasibility
Ⅱ. . M&E in Korea and strengthening the method
▶ Projects start after feasibility test,
However, their feasibilities can change after the initiation
▶ Re-assess of Feasibility will be done
- If TPC has increased by more than 20%
- If new demand forecast is smaller by 30% than the initial one
▶ What if a project appears not to be feasible by reassessment?
11. 11
세계경제 전망 (%)
2. Re-assessment of Feasibility
Ⅱ. . M&E in Korea and strengthening the method
▶ Sanctions by Re-assessment of Feasibility (1)
: Example of stopped projects which completed detailed design
- Janghowon~Jumdong national road(BC=0.24)
- Bukmyun~Bugok natinal road(BC-0.26)
- Sungnam~Janghown natinal road(BC-0.83)
- Imchun~Kanhkyung local road(BC=43)
- Boryung new harbour (BC=0.24)
12. 12
세계경제 전망 (%)
2. Re-assessment of Feasibility
▶ Counter action by re-assessment of feasibility (2) : adjustment of total
costs
year # of
Proj.
Initial TPC
(A)
Reqest
(B)
B/A
(%)
Adjust
(C)
C/A
(%)
2010 (36) 8,783 15,829 80.2 13,826 57.4
2011 (22) 10,627 14,264 34.2 13,012 22.4
Ⅱ. . M&E in Korea and strengthening the method
13. 13
세계경제 전망 (%)
3. Total Project Cost Management
Ⅱ. . M&E in Korea and strengthening the method
▶ MOSF watch the execution of projects to prevent excessive increase in total
cost induced by modification of construction size or design .
▶ TPC rule
- Line ministries should report to MOSF and get approval
- difference between designed project cost and the cost in bidding
- changes in total project cost
14. 14
세계경제 전망 (%)
3. Total Project Cost Management
Ⅱ . M&E in Korea and strengthening the method
▶ what if an entity violate TPC rule?
- execution of projects without report of changes project cost
▶ Sanctions, introduced in 2000
- Cut in supplementary expenses of projects
- Cut in operational expenditures of the relevant line ministry
- No budgeting the unapproved increment
15. 15
세계경제 전망 (%)
3. Total Project Cost Management
Ⅱ. . M&E in Korea and strengthening the method
▣ Effect of Introducing Sanctions to TPC Management
TPC requested TPC Adjusted
Before introducing sanctions
(1996~1999)
26.4% 11.1%
After introducing sanctions
(2000~2003)
4.4% 1.0%
16. 16
세계경제 전망 (%)
4. Budget Waste Reporting System
▶ Concept : On-line monitoring system open to the public
- operating 309 portal sites : 50 in central governments,
246 in local governments, 13 in state-owned enterprises
- Number of reported projects by people are increasing
(2009) 1,390 -> (2012) 3,474
Ⅱ. . M&E in Korea and strengthening the method
17. 17
세계경제 전망 (%)
4. Budget Waste Reporting System
▶ Following actions
- MOSF reviews reported issues,
- reassess feasibility, in-depth evaluation
▶ Possible sanctions
- cut in the project cost, cut in the budget, stop the project
.
Ⅱ. . M&E in Korea and strengthening the method
18. 18
세계경제 전망 (%)
4. Budget Waste Reporting System
Ⅱ. . M&E in Korea and strengthening the method
▶ Case : Reconstruction of national road between Yoju-
Yangpyung
- Projects : from 2 lanes to 4 lanes,
- reported issue :
another road is being built.
- Reassessment of feasibility
- cut in TPC, straightening the lanes
$117 mil. → $ 60 mil.
19. 19
세계경제 전망 (%)
5. Performance Evaluation
Ⅱ. . M&E in Korea and strengthening the method
1. Self- evaluation
▶ concept
- MOSF gives check lists for line ministries to evaluate projects
- Line ministries assess performance of programs
- Considers for the next year’s budgeting
▶ counteractions
- cut in the next year’s budget in case of poor performance
20. 20
Linkage between Self Evaluation and Budgeting
Year
Budget change of Projects(%)
Projects
(No.) Poor performance
Projects
(No.) Good performance
2008 70 Δ6.8 19 6.7
2009 133 Δ12.5 27 6.3
2010 132 Δ10.0 33 8.4
Ⅱ. . M&E in Korea and strengthening the method
5. Performance Evaluation
21. 21
세계경제 전망 (%)
5. Performance Evaluation
Ⅱ. . M&E in Korea and strengthening the method
2. In-depth Evaluation
▶ concept
- Evaluate appropriateness, effectiveness, sustainability
- in-depth evaluation on some selected projects
▶ counteractions
- Some cases, if some problems were found, are sent to
Reassessment of feasibility test
- cut in the project cost, cut in the next year’s budget, stopping the
project
23. 23
세계경제 전망 (%)
Challenges in M&E
Ⅲ. Challenges and remarks
Difficulty in monitoring
Tetrapod for breakwater
24. 24
세계경제 전망 (%)
Challenges in Sanctions
Ⅲ Challengesand remarks
▶ Limitation on effectiveness
- Once a project was launched, it is hard to stop it.
- it is also hard to restore to the initial condition
▶ Reluctance to sanction
- People want to give favor to someone rather than sanction
▶ Is Restriction always desirable?
25. 25
세계경제 전망 (%)
Concluding Remarks
Ⅲ. Challengesand remarks
▶ Effective M&E is as important as planning and budgeting.
- to secure a project to be realized as planned
▶ M&E requires counteractions to be effective
- Strong counteractions, sanctions, will help feedback and
launching a new efficient project
Buenos dias.
Thanks for giving me this opportunity to present a Korean case.
I have been working at the Korean Ministry of Strategy and Finance, which is in charge of planning, budgeting and M&E as well.
Budget is very important for national develo0pment, however, securing the budget is as important as budgeting, of course.
I would like to talk about several methods to strengthen effectiveness of M&E of budget execution
The order of presentation will be
Raising an issue
Tools for M&E in Korea and strengthening the method
And finally, Challenges and remarks
As we understand, the object of budget is to get some output.
But we do not expect all budget will have output.
As an extreme case, for example, let’s say that a Ministry of Finance budgeted a bridge across water and paid to an executing entity.
After some years, the government found that there was no bridge at that place.
The issue is that there was no monitoring of the budget execution, and there was no sanction against this bad execution of budget.
In this case, however a budget itself was desirable, the result could not be desirable .
Let me give you another example which can happen often in the real world.
Somebody might request a building construction by saying that it will cost 9 US billion dollars, the construction of which will last for three years.
Once it was approved, and after a year, he/she might say it will cost 15 billion dollars.
What can you do? Can you cancel the project which is being under construction, or will you accept the increase in the cost?
What can you do, if the entity say it will cost even more, say, 30 billion dollars, two years later?
M&E is an important tool for budget to be effective.
That is, M&E helps projects implemented as planned and budgeted.
It is necessary because line ministries or construction companies may have desire to increase the size of projects or even want to use the money for their personal purpose.
Another important point is that, for M&E to be effective, we need some strong methods such as sanctions against bad executions.
In this presentation, I’d like talk about some sanctions for bad budget executions in Korea.
Let me introduce M&E in Korea and how it strengthens the method.
First, let me talk about eternal supervision of project execution.
In all countries, project execution is supervised by government.
And since payment can be done only after checking the process and proof in Korea, we do not worry about no output of the budget.
That’s kind of crime, and will be punished by eternal entities, such Administration of Audit and Inspection, Prosecutors.
By them, very strong sanctions such as fire off, cut in salary, imprisonment, and fine, will be taken against violation of a law.
Existence of output, or sanction by external entities is not a main issue today. I do not expect such a case will happen in ordinary circumstance.
The issue is how to achieve feasibility and efficiency by strengthening monitoring, evaluation and counteractions against violations.
An important tool for M&E is re-assessment of the feasibility.
Though projects passed feasibility test, their feasibility can change during the execution.
Reassessment of feasibility will be done
If total project cost increases by more than 20%,
or new demand forecast is smaller than the initial one by 30%,
What can we do if if a project appears not to be feasible by reassessment?
As a result of reassessment of feasibility, some sanctions are possible against which showed lack of feasibility.
An example of sanction is stopping the projects.
Some projects, of which BC ratio turned out to be smaller than 1, were stopped though they completed detailed design and waited to start construction.
Another counteraction by re-assessment of feasibility is adjusting project cost. Though it may not be called a sanction, it does not allow dispensable increase in project cost as requested.
For example, in 2010 accumulated TPC increase of 30 projects were 80.2 %. As a result of reassessment, the TPC increase was adjusted to 57.4%..
Also in 2011, for 22 projects, excessive increase in TPC was adjusted by reassessment of feasibility from 34.2% to 22.4%.
The next tool for M&E is Total project cost management.
Korean MOSF is watching the execution of project to prevent excessive increase in the project cost induced by increase in construction size or modification in its design.
The TPC rule says that line ministries should report to MOSF the difference between designed project cost and that in bidding, and the change in project costs as well, to get approval.
What If a line ministry violate TPC rule, that is, if it changes project cost without consultation with the MOSF?
The MOSF will give sanctions that were introduced in 2000.
MOSF may cut the budget in supplementary incidental expenses for the project,
it cut the budget of the line ministry for operational expenditures as well,
And, it does not budget the unapproved increment, which occurs in case of budget sharing with other entities such as local government, so that the budget sharing entity should burden the increase.
The effect of introducing sanctions was significant.
As seen on the table, line ministries’ request for project cost increase was reduced from 26.4% to 4.4% after introducing sanctions,
And adjusted rate of TPC increase reduced as well from 11.1% to 1.0%.
Since there are too many projects to be monitored by government, Korea operates on-line public monitoring system, so called “budget waste reporting system”.
We have 309 on-line portal sites, at central government, local governments and SOEs.
Since it was open in 2009, the number of reported issues is increasing significantly
Once reported, the MOSF reviews the issues, and if necessary, sent some of them to reassessment of feasibility or in-depth evaluation.
If some significant problems are found, possible sanctions will be taken; for example, cut in the project cost, cut in the budget, or stopping the project.
Now, let’s look at an example of budget waste case report and counteraction.
There was a reconstruction of a national road which was planned to broaden from 2 lanes to 4 lanes.
A person reported that it is a budget waste case since a new expressway was being built parallel to it, two of which were constructed by different entities.
The MOSF reassess the feasibility, concluded that it was a waste of budget.
The MOSF adjusted the construction type to straightening the road instead of broadening, and cut the project cost half from $117mil to $60mil.
Another tool for M&E is performance evaluation.
One of the performance evaluation in Korea is self-evaluation.
For the self-evaluation, the MOSF gives check lists to line ministries, and line ministries assess performance of programs according to the check list.
The counteraction of the self-evaluation is next year’s budget, that is, cut in the next year’s budget in case of poor performance.
Let’s look examples of cut in the budget of poor performances.
The table shows budget changes in a ministry classified into two groups.
The left two columns represents poor performance, the budget of which shows cut by around 10%,
while the right two columns represents the group of good performance with increases in budget by 6 to 8 %.
The second tool of performance evaluation is in-depth evaluation.
This assesses appropriateness, effectiveness and sustainability of the projects in detail for some selected projects.
Following the in-depth evaluation, some cases are sent to reassessment of feasibility .
Of course, some sanctions such as cut in project cost, cut in the next year’s budget, stopping the projects, are possible
Now, let me talk about challenges and some remarks
Though we know that M&E is important, sometimes monitoring itself is very difficult. Let me show an example.
Do you know what they are? These are Tetrapod,
A government budget breakwater.
Many tetrapod were sunk in the water, and it is hard to estimate how many tetrapod were sunk in the water.
There are some challenges in strengthening M&E by sanctions.
First issue is limitations of effectiveness.
We understand that once a project was launched, it is hard to stop it, or restore it to the initial condition
That’s why every entity is trying to launch a project.
Next, people are reluctant to sanctions, since people like to give favor to someone rather than sanction
Another point is that restriction is not always desirable. Sometimes it is more desirable to allow luxury design, high project cost for future condition.
Seoul international airport is an example. When it was being built, I was the person who budgeted the construction cost, at that time I doubted if it was too luxurious and too big. However, currently the airport is one of the world best international airports. If budget authority was too conservative to accept it, we could not have had such a fantastic facility.
In conclusion, Effective M&E is very important to secure a project to be realized as planned and budgeted.
Even more important thing is that M&E requires counteractions to be effective
Strong counteractions, or sanctions, will help feedback and launching a new efficient project.
In this sense, I hope Korean case will be a good reference for development of fiscal system in LAC countries.