2. NASA Rule13
A manager who is his own systems engineer or
financial manager is one who will probably try to do
open heart surgery on himself.
Implications!
3. What is Finance?
• It is the art and science of managing money.
•
•
It is a prerequisite for obtaining physical resources, which
are needed to perform productive activities and
carrying business operations [such as sales, pay
compensations, reserve for contingencies and so on].
It is concerned with the process, institutions , markets, and
instruments involved in the transfer of money
between/among individuals, businesses, and government.
4. Finance from different perspectives
Experts
“[It] is a simple task of providing the necessary funds (money) required by
business entities, individuals and others on the terms that are most favorable
to achieve their economic objectives."
Entrepreneurs
“[It] is concerned with cash. Because every business
transaction involves cash directly or indirectly."
Academicians
“[It] is the procurement of funds and effective utilization of funds. It also deals
with profits that adequately compensate for the cost and risks born by the
business”.
5. What is Financial Management (FM)?
FM comprises multiple processes, including
financial accounting, management(and cost)
accounting, asset management, cash and treasury
management, financial reporting, internal controls,
and internal and external audit.
Each of these processes should incorporate sub-
processes and techniques including management,
forecasting, strategic planning, planning and
budgeting, procurement, disbursement, control,
and communications and reporting
4
6. Financial Management Objectives
The primary objective of the FM process is to
optimize financial and economic benefits from
an investment.
FM systems include the policies and
practices regarding financial planning,
programming, accounting, reporting, auditing,
funding, organization, and personnel of a
project
5
7. What is a Financial Policy?
A Financial Policy is a financial management
tool, which sets out the procedures to be
implemented.
This financial policy should be put in place
during the development of a project.
Question?
Should a financial policy be detailed or not?
Why?
6
8. Financial Policy
Often one of the biggest problems during the
implementation of projects is the enforcing of
rules and procedures.
At the initial stages of a project there is generally
agreement on these issues but during project
implementation, people often do not follow the
rules and procedures.
It is thus important to detail these in the financial
policy, as well as consequences of non-
compliance. These should be clearly defined in
the financial policy.
7
9. Financial Policy- Remark
A financial policy prevents conflict by defining
the rules of how decisions and procedures
involving money are governed. Such rules are
helpful in areas where potential dispute exist,
especially where there are several different
stakeholders, all with differing opinions and
expectations.
8
10. Key Elements of a Financial Policy
Procedures and rules for handling money;
Clear responsibilities of the various individuals involved
in the financial management and assigned specific
jobs/positions - e.g. the treasurer, the chairperson, the
financial officer;
Compliance issues such as procedures, communication
and reporting lines, and how non-compliance should be
dealt with;
An understanding by all participants of the financial
procedures, roles and reporting lines as well as the role
of the project manager with regard to the financial issues
of the project.
9
12. Budgeting
The budget is essentially a plan of expected
expenditure and income activities.
A budget is usually prepared for the period of a
year, but this will vary with shorter-term projects.
It describes what the project wants to achieve,
including detailed activities and the financial
inputs required to achieve specific outputs.
11
13. Importance of a Budget
It is a useful financial planning tool and can
be used to prioritize what activities will be
funded, especially if there are more activities
than funds available.
Budget serves as a control of spending
during the year by comparing the actual
performance with the budget.
12
14. Preparing Budget
Budgeting requires careful and realistic
planning and should be drawn up during
the planning and development of a project.
When preparing a budget, the sources of
income and areas of expenditure need to
be identified.
13
15. Budgeting
Sources of income may include:
Funds/resources made available by stakeholders;
Local gov’t grants;
Other donor grants;
Expected fund raising income
Sales/dividends from business operations;
Any other income, such as loans.
14
16. Budgeting
Estimating Expenditure
Expenditure may include renting of premises,
salaries, transport costs, marketing costs,
operational materials, auditing fees, insurance
premiums and loan repayments.
Expenditure is calculated systematically, based on
estimated amounts required for each specific
activity in the project.
When estimating expenses, be thorough -
provision should also be made for unforeseen
costs.
15
18. Project Cost Management
Project cost management is primarily concerned with the
cost of the resources needed to complete project
activities.
In addition, it also considers the effect of project
decisions on the cost of using the project product.
For example, limiting the number of design reviews may
reduce the cost of the project at the expense of an
increase in the customer’s operating costs. This broader
view of project cost management is often called life-cycle
costing.
17
19. Project Cost Management
Project cost management should consider the
information needs of the project stakeholders—
different stakeholders may measure project
costs in different ways and at different times. For
example, the cost of a procurement item may be
measured when committed, ordered, delivered,
incurred, or recorded for accounting purposes.
18
22. Estimating Project Costs
Estimating Cost is - the process of developing
an approximation of the monetary resources
needed to complete project activities.
The key benefit of this process is that it
determines the amount of cost required to
complete project work.
23. Estimating Project Cost
Project cost estimates:
are a prediction that is based on the information
known at a given point in time.
include the identification and consideration of
costing alternatives to initiate and complete the
project.
In cost estimation, cost tradeoffs and risks
should be considered, such as make versus
buy, buy versus lease, and the sharing of
resources in order to achieve optimal costs for
the project.
24. Estimating Project Cost
Cost estimates are generally expressed in units
of some currency (i.e., birr, dollars, euros, etc.),
although in some instances other units of
measure, such as labor hours or labor days, are
used to facilitate comparisons by eliminating
the effects of currency fluctuations.
25. Estimating Project Cost
Cost estimates should be reviewed and refined during
the course of the project to reflect additional detail as it
becomes available and assumptions are tested.
The accuracy of a project estimate will increase as the
project progresses through the project life cycle.
For example, a project in the initiation phase may have a
rough estimate in the range of −25% to +75%. Later in
the project, as more information is known, definitive
estimates could narrow the range of accuracy to -5% to
+10%.
28. I. Estimating Project Cost : Inputs
Estimating Project Cost requires the following inputs.
a. Cost management plan
b. HRM plan
c. Scope baseline
d. Project schedule
e. Risk register
f. Enterprise environmental factors
g. Organizational process assets
29. a. Cost management plan
This defines how project costs will be
managed and controlled.
It includes the method used and the level of
accuracy required to estimate activity cost.
30. b. Human Resource Management Plan
This provides project staffing attributes,
personnel rates, and related
rewards/recognition, which are necessary
components for developing the project cost
estimates.
31. c. Scope baseline
The scope baseline is comprised of the following:
i. Project scope statement: provides the product description,
acceptance criteria, key deliverables, project boundaries,
assumptions [e.g. whether cost estimates are limited to direct costs or
will also include both], and constraints [e.g. limited budget, delivery
date, available skilled resource, organizational policy] about the
project.
ii. Work breakdown structure. This explains the relationships
among all the components of the project and the project
deliverables.
iii. WBS dictionary. The WBS dictionary provides detailed
information about the deliverables and a description of the work
for each component.
32. d. Project Schedule
The type and quantity of resources and the
amount of time which those resources are
applied to complete the work of the project are
major factors in determining the project cost.
Scheduled activity resources and their
respective durations are used as key inputs to
this process.
33. e. Risk Register
The risk register should be reviewed to consider risk
response costs.
As a general rule, when the project experiences a negative
risk event, the cost of the project will usually increase, and
there will sometimes be a delay in the project schedule.
In a similar way, the project team should be sensitive to
potential opportunities that can benefit the business either
by directly reducing activity costs or by accelerating the
schedule.
34. f. Organizational Process Assets
The organizational process assets that influence
the Estimate Costs process include, but are not
limited to:
Cost estimating policies,
Cost estimating templates,
Historical information, and
Lessons learned.
36. II. Estimating Project Cost : Tools and Techniques
The tools and techniques used in estimating project cost
include the following:
a. Expert judgment
b. Analogous Estimating
c. Parametric Estimating
d. Bottom-Up Estimating
e. Three - Point Estimating
f. Reserve analysis
g. Cost of Quality
h. Project Management Software
i. Vendor Bid Analysis
j. Group Decision-Making
Techniques
37. a. Expert Judgment
Expert judgment, guided by historical information,
provides valuable insight about the environment and
information from prior similar projects.
Expert judgment can also be used to determine whether
to combine methods of estimating and how to reconcile
differences and how to reconcile differences between
them.
38. b. Analogous Estimating
When estimating costs, this technique relies on the actual
cost of previous, similar projects as the basis for estimating
the cost of the current project.
It is a gross value estimating approach, sometimes adjusted
for known differences in project complexity.
It is frequently used to estimate a value when there is a
limited amount of detailed information about the project, for
example, in the early phases of a project.
It uses historical information and expert judgment.
39. b. Analogous Estimating
It is generally less costly and less time consuming than
other techniques, but it is also generally less accurate.
It can be applied to a total project or to segments of a
project, in conjunction with other estimating methods.
It is most reliable when the previous projects are similar in
fact and not just in appearance, and the project team
members preparing the estimates have the needed
expertise.
40. c. Parametric Estimating
Parametric estimating uses a statistical relationship
between relevant historical data and other variables
(e.g., square footage in construction) to calculate a
cost estimate for project work.
This technique can produce higher levels of accuracy
depending upon the sophistication and underlying data
built into the model.
It can be applied to a total project or to segments of a
project, in conjunction with other estimating methods.
41. d. Bottom-Up Estimating
Bottom-up estimating is a method of estimating
a component of work. The cost of individual
work packages or activities is estimated to the
greatest level of specified detail.
The detailed cost is then summarized or “rolled
up” to higher levels for subsequent reporting
and tracking purposes.
The cost and accuracy of bottom-up cost
estimating are typically influenced by the size
and complexity of the individual activity or work
package.
42. e. Three-Point Estimating
The accuracy of single-point activity cost estimates may be
improved by considering estimation uncertainty and risk and
using three estimates to define an approximate range for an
activity’s cost:
• Most likely (cM). The cost of the activity, based on realistic
effort assessment for the required work and any predicted
expenses.
• Optimistic (cO). The activity cost based on analysis of the
best-case scenario for the activity.
• Pessimistic (cP). The activity cost based on analysis of the
worst-case scenario for the activity.
43. e. Three-Point Estimating
Depending on the assumed distribution of values within the
range of the three estimates the expected cost, cE, can be
calculated using a formula. Two commonly used formulas
are triangular and beta distributions. The formulas are:
• Tri-angular Distribution. cE = (cO + cM + cP) / 3
• Beta Distribution . cE = (cO + 4cM + cP) / 6
44. f. Reserve Analysis
Cost estimates may include contingency reserves
(sometimes called contingency allowances) to
account for cost uncertainty. Contingency reserves
are the budget within the cost baseline that is
allocated for identified risks, which are accepted and
for which contingent or mitigating responses are
developed.
45. g. Cost of Quality (COQ)
Assumptions about costs of quality may be
used to prepare the activity cost estimate.
46. h. Project Management Software
Project management software applications,
computerized spreadsheets, simulation, and
statistical tools are used to assist with cost
estimating.
Such tools can simplify the use of some cost-
estimating techniques and thereby facilitate rapid
consideration of cost estimate alternatives.
47. i. Vendor Bid Analysis
Cost estimating methods may include analysis of
what the project should cost, based on the
responsive bids from qualified vendors.
When projects are awarded to a vendor under
competitive processes, additional cost estimating
work may be required of the project team to
examine the price of individual deliverables and to
derive a cost that supports the final total project
cost.
48. j. Group Decision-making
Team-based approaches, such as brainstorming,
the Delphi or nominal group techniques, are
useful for engaging team members to improve
estimate accuracy and commitment to the
emerging estimates.
By involving a structured group of people who
are close to the technical execution of work in
the estimation process, additional information is
gained and more accurate estimates are
obtained.
Additionally, when people are involved in the
estimation process, their commitment towards
meeting the resulting estimates increases.
50. III. Estimating Project Cost: Outputs
The output of estimating project cost includes:
a. Activity Cost Estimates, and
b. Basis of Estimates
c. Project Documents Updates
51. III. Estimating Project Cost: Outputs
a. Activity Cost Estimates: are quantitative assessments
of the probable costs required to complete project work.
Cost estimates can be presented in summary form or in
detail.
Costs are estimated for all resources that are applied to the
activity cost estimate. This includes, but is not limited to,
direct labor, materials, equipment, services, facilities,
information technology, and special categories such as cost
of financing (including interest charges), an inflation
allowance, exchange rates, or a cost contingency reserve.
Indirect costs, if they are included in the project estimate,
can be included at the activity level or at higher levels.
52. III. Estimating Project Cost: Outputs
b. Basis of Estimates. The amount and type of additional
details supporting the cost estimate vary by application
area. Regardless of the level of detail, the supporting
documentation should provide a clear and complete
understanding of how the cost estimate was derived.
Supporting detail for activity cost estimates may
include:
• Documentation of the basis of the estimate (i.e., how it
was developed), Documentation of all assumptions made,
Documentation of any known constraints, Indication of the
range of possible estimates (e.g., Br.10,000 (+10%) to
indicate that the item is expected to cost between a range
of values)
53. III. Estimating Project Cost: Outputs
c. Project Documents Updates
Project documents that may be updated include, but
are not limited to, the risk register.
54. Project Budget:
Estimating Project Budgets
Determining Project Budget is - the process
of aggregating the estimated costs of individual
activities or work packages to establish an
authorized cost baseline
The key benefit of this process is that it
determines the cost baseline against which
project performance can be monitored and
controlled.
54
57. I. Determining Project Budget : Inputs
Estimating Project Cost requires the following inputs.
a. Cost management plan
b. Scope baseline
c. Activity cost estimates
d. Basis of Estimates
e. Project schedule
f. Resource Calendars
g. Risk Register
h. Agreements
i. Organizational Process assets
58
58. a. Cost Management plan
The cost management plan describes how
the project costs will be managed and
controlled.
59
59. b. Scope Baseline
Scope Baseline include:
Project scope statement. Formal limitations by period for the
expenditure of project funds can be mandated by the organization, by
agreement, or by other entities such as government agencies. These
funding constraints are reflected in the project scope statement.
Work breakdown structure/WBS/. The WBS provides the
relationships among all the project deliverables and their various
components.
WBS dictionary. The WBS dictionary and related detailed statements
of work provide an identification of the deliverables and a description
of the work in each WBS component required to produce each
deliverable.
60
60. c. Activity Cost Estimates
Cost estimates for each activity within a work
package are aggregated to obtain a cost
estimate for each work package.
61
61. d. Basis of estimates
Supporting detail for cost estimates contained
in the basis for estimates should specify any
basic assumptions dealing with the inclusion or
exclusion of indirect or other costs in the
project budget.
62
62. e. Project Schedule
The project schedule includes planned start
and finish dates for the project’s activities,
milestones, work packages, and control
accounts. This information can be used to
aggregate costs to the calendar periods in
which the costs are planned to be incurred.
63
63. f. Resource Calendars
Resource calendars provide information on
which resources are assigned to the project
and when they are assigned.
This information can be used to indicate
resource costs over the duration of the project.
64
64. g. Risk Register
The risk register should be reviewed to consider
how to aggregate the risk response costs.
Updates to the risk register are included with
project document updates
65
65. h. Agreements
Applicable agreement information and costs
relating to products, services, or results that
have been or will be purchased are included
when determining the budget.
66
66. i. Organizational Process Assets
The organizational process assets that influence
the budgeting project costs include, but are not
limited to:
Existing formal and informal cost budgeting-
related policies, procedures, and guidelines;
Cost budgeting tools; and
Reporting methods.
67
68. II. Project Budget: Tools and Techniques
The tools and techniques used in budgeting project cost
include the following:
a. Cost aggregation
b. Reserve analysis
c. Expert judgment
d. Historical relationships
e. Funding limit reconciliation
69
69. a. Cost Aggregation
Cost estimates are aggregated by work packages
in accordance with the WBS. The work package
cost estimates are then aggregated for the higher
component levels of the WBS (such as control
accounts) and ultimately for the entire project.
70
70. b. Reserve Analysis
Budget reserve analysis can establish both the
contingency reserves and the management reserves
for the project.
Contingency reserves can provide for a specific
activity, for the whole project, or both. The
contingency reserve may be a percentage of the
estimated cost, a fixed number, or may be developed
by using quantitative analysis methods.
Management reserves are an amount of the project
budget withheld for management control purposes
and are reserved for unforeseen work that is within
scope of the project.
Management reserves are intended to address the
“unknown unknowns” that can affect a project.
71
71. c. Expert Judgment
Expert judgment, guided by experience in an
application area, Knowledge Area, discipline,
industry, or similar project, aids in
determining the budget. Such expertise may
be provided by any group or person with
specialized education, knowledge, skill,
experience, or training. Expert judgment is
available from many sources, including, but
not limited to:
72
72. c. Expert Judgment
Other units within the performing organization,
Consultants,
Stakeholders, including customers,
Professional and technical associations, and
Industry groups.
73
73. d. Historical Relationships
Any historical relationships that result in parametric
estimates or analogous estimates involve the use of
project characteristics (parameters) to develop
mathematical models to predict total project costs.
Such models may be simple or complex.
Both the cost and accuracy of analogous and parametric
models can vary widely. They are most likely to be reliable
when:
Historical information used to develop the model is accurate,
Parameters used in the model are readily quantifiable, and
Models are scalable, such that they work for large projects,
small projects, and phases of a project.
74
74. e. Funding Limit Reconciliation
The expenditure of funds should be reconciled
with any funding limits on the commitment of
funds for the project. A variance between the
funding limits and the planned expenditures will
sometimes necessitate the rescheduling of work
to level out the rate of expenditures. This is
accomplished by placing imposed date constraints
for work into the project schedule.
75
76. III. Estimating Project Budget: Outputs
The output of estimating project budget
includes:
a. Cost baseline,
b. Project Funding Requirement,
c. Project Documents Updates
77
77. a. Cost baselines
The cost baseline is the approved version of the
time-phased project budget, excluding any
management reserves, which can only be changed
through formal change control procedures and is
used as a basis for comparison to actual results. It
is developed as a summation of the approved
budgets for the different schedule activities.
78
78. b. Project Funding Requirements
Total funding requirements and periodic funding
requirements (e.g., quarterly, annually) are derived
from the cost baseline. The cost baseline will
include projected expenditures plus anticipated
liabilities.
Funding often occurs in incremental amounts that
are not continuous, and may not be evenly
distributed.
The total funds required are those included in the
cost baseline, plus management reserves, if any.
Funding requirements may include the source(s) of
the funding.
79
79. c. Project Documents Update
Project documents that may be updated include, but
are not limited to:
Risk register,
Activity cost estimates, and
Project schedule.
80
81. Project Cost Control
Is the process of monitoring the status of the
project to update the project costs and
managing changes to the cost baseline.
The key benefit of this process is that it
provides the means to recognize variance
from the plan in order to take corrective
action and minimize risk.
82
83. Project Cost Control: Inputs
Include:
A. Project management plan
B. Project funding requirements
C. Work performance data
D. Organizational process assets
84
84. A. Project Management Plan
The project management plan contains the
following information that is used to control
cost:
Cost baseline. This is compared with actual
results to determine if a change, corrective
action, or preventive action is necessary.
Cost management plan. This describes how
the project costs will be managed and
controlled.
85
85. B. Project Funding Requirements
The project funding requirements include
projected expenditures plus anticipated
liabilities.
86
86. C. Work Performance Data
Work performance data includes
information about:
Project progress, such as which activities have
started, their progress, and which deliverables
have finished.
Costs that have been authorized and incurred.
87
87. D. Organizational Process Assets
The organizational process assets that can
influence the project cost control process
include, but are not limited to:
Existing formal and informal cost control-
related policies, procedures, and guidelines;
Cost control tools; and
Monitoring and reporting methods to be used.
88
89. II. Project cost control: Tools and Techniques
Project cost control tools and techniques
include:
a. Earned value management
b. Forecasting
c. To-complete performance index
d. Performance reviews
e. Project management software
f. Reserve analysis
90
90. a. Earned value management
Earned value management (EVM) is a methodology
that combines scope, schedule, and resource
measurements to assess project performance and
progress.
It is a commonly used method of performance
measurement for projects.
It requires the formation of an integrated baseline
against which performance can be measured for the
duration of the project.
91
91. a. EVM
The principles of EVM can be applied to
all projects in any industry. EVM
develops and monitors three key
dimensions for each work package and
control account:
i. Planned value
Ii. Earned value
Iii. Actual cost
92
92. a. EVM
i. Planned value (PV): is the authorized budget
planned for the work to be accomplished for an
activity or work breakdown structure
component, not including management reserve.
The total of the PV is sometimes referred to as
the performance measurement baseline (PMB).
The total planned value for the project is also
known as budget at completion (BAC).
93
93. a. EVM
ii. Earned value (EV): is a measure of work
performed expressed in terms of the budget
authorized for that work. It is the budget associated
with the authorized work that has been completed.
-The EV is often used to calculate the percent
complete of a project.
-Project managers monitor EV, both incrementally
to determine current status and cumulatively to
determine the long-term performance trends.
94
94. a. EVM
iii. Actual Cost (AC): is the realized cost incurred
for the work performed on an activity during a
specific time period. It is the total cost incurred in
accomplishing the work that the EV measured. The
AC needs to correspond in definition to what was
budgeted in the PV and measured in the EV (e.g.,
direct hours only, direct costs only, or all costs
including indirect costs). The AC will have no
upper limit; whatever is spent to achieve the EV
will be measured.
95
95. Variances
Variances from the approved baseline will
also be monitored by:
i. Schedule Variance (SV):is a measure of schedule
performance expressed as the difference between the
earned value and the planned value. It is a measure of
schedule performance on a project. SV=EV - PV
ii. Cost Variance (CV):is the amount of budget deficit or
surplus at a given point in time, expressed as the difference
between earned value and the actual cost. It is a measure
of cost performance on a project. It is equal to the earned
value (EV) minus the actual cost (AC). CV= EV - AC
96
96. Variances
iii. Scheduled Performance Index (SPI): is a
measure of schedule efficiency expressed as the ratio of
earned value to planned value. It measures how
efficiently the project team is using its time. It is
sometimes used in conjunction with the cost performance
index (CPI) to forecast the final project completion
estimates. An SPI value less than 1.0 indicates less work
was completed than was planned. An SPI greater than
1.0 indicates that more work was completed than was
planned.
SPI = EV/PV
97
97. Variances
iv. Cost Performance Index (CPI): is a measure
of the cost efficiency of budgeted resources, expressed
as a ratio of earned value to actual cost. It is considered
the most critical EVM metric and measures the cost
efficiency for the work completed. A CPI value of less
than 1.0 indicates a cost overrun for work completed. A
CPI value greater than 1.0 indicates a cost underrun of
performance to date. CPI = EV/AC
98
98. b. Forecasting
Forecasting involves making projections of conditions
and events in the project’s future based on current
performance information and other knowledge
available at the time of the forecast.
Forecasts are generated, updated, and reissued
based on work performance data that is provided as
the project is executed.
The work performance information covers the project’s
past performance and any information that could
impact the project in the future
99
99. c. To-Complete Performance Index (TCPI)
This is a measure of the cost performance that
is required to be achieved with the remaining
resources in order to meet a specified
management goal, expressed as the ratio of
the cost to finish the outstanding work to the
remaining budget.
TCPI is the calculated cost performance index
that is achieved on the remaining work to meet
a specified management goal, such as the
BAC or the EAC.
100
100. c. TCPI
Formula:
TCPI= Work Remaining (BAC-EV)
Funds Remaining (BAC-AC) or (EAC-AC)
Where: BAC = Budget at completion
EV= Earned Value
AC= Actual Cost
EAC (estimate at completion) = AC + (BAC - EV) or
EAC=BAC/CPI
101
101. d. Performance Reviews
Performance reviews compare cost
performance over time, schedule activities or
work packages overrunning and
underrunning the budget, and estimated
funds needed to complete work in progress.
102
102. d. Performance Reviews
i. Variance analysis: is similar as used in EVM,
the explanation (cause, impact, and corrective
actions) for cost (CV = EV - AC), schedule
(SV = EV - PV), and variance at completion
(VAC = BAC - EAC) variances.
Cost and schedule variances are the most
frequently analyzed measurements.
103
103. d. Performance reviews
ii. Trend analysis: examines project
performance over time to determine if
performance is improving or deteriorating.
iii. Earned value performance: compares the
performance measurement baseline to
actual schedule and cost performance.
104
104. e. Project Management Software
Project management software is often used to
monitor the three EVM dimensions (planned
value [PV], earned value [EV], and actual cost
[AC]), to display graphical trends, and to
forecast a range of possible final project
results.
105
105. f. Reserve Analysis
During cost control, reserve analysis is used to
monitor the status of contingency and
management reserves for the project to
determine if these reserves are still needed or if
additional reserves need to be requested.
106
107. Project cost control outputs
The outputs of the project cost control
process are:
a. Work performance information
b. Cost forecasts
c. Change requests
d. Project management plan updates
e. Project documents update
f. Organizational process assets updates
108
108. Accessibility
To multiple (unlimited) data sources
+
Transparency
For common version of the truth
+
Consistency
To strengthen data quality and data integrity
+
Safeguard
To secure data for confidentiality
on a need to know basis
+
Ease of Use
Transition is intuitive and familiar