Financial engineering for civil/structural engineering projects
- Authors: Strijdom, Jan Gerhardus
- Date: 2012-09-10
- Subjects: Financial engineering , Project finance
- Type: Thesis
- Identifier: uj:9915 , http://hdl.handle.net/10210/7313
- Description: M.Phil. , The provision of adequate infrastructure and the economic growth of a country's highly interrelated population growth and rapid urbanization has placed enormous pressure on existing infrastructure. The provision of new and maintenance of existing infrastructure presents a challenge to the government. In South Africa infrastructure expenditure were generally funded directly from the country's fiscal budgets. Macroeconomic instability and growing investment requirements have shown that public financing is too volatile and rarely meets crucial infrastructure expenditure requirements in a timely and adequate manner. On the other hand, private sector organisations have a larger pool of sources from which to seek funding, equity investors, capital markets, banks etc., this can be from local to international markets. Therefore, private sector involvement in infrastructure provision has been widely used as a preferred method of financing these projects. The South African government can no longer carry the financial burden in it's fiscal policy to finance all the infrastructure projects needed in this country, and it is also up to the private sector to seek funding for projects that will be economical strong enough to service its own debt. Research objectivesobjectives of this study are to give a background of project financing by addressing the risks involved, finance structures, funding alternatives and strategies.
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Financial product development : a strategically competitive system engineering approach to innovative risk based financial engineering.
- Authors: Piquito, Nicholas Paul
- Date: 2012-08-27
- Subjects: Financial engineering , Risk management , Competition , Benchmarking (Management)
- Type: Thesis
- Identifier: uj:3209 , http://hdl.handle.net/10210/6621
- Description: D.Ing. , It is said that the development of innovative new products is set to become the economic battleground of the twenty-first century. Specifically, the innovative identification, development and subsequent marketing of financial products designed in order to allow organisations to manage their financial risk profiles will assume increased importance as volatility within the global business environment and capital markets increases. The discipline responsible for the development of such financial products, financial engineering, will increase in importance as financial services organisations compete to be the first to satisfy the needs of the market. The ultimate aim of financial engineering, as with any product development process, must be to develop the required product in an optimal manner at a minimised economic life-cycle cost to the organisation. Simultaneously, if correctly applied, the process of financial engineering can be a significant source of competitive advantage to the financial services organisation in an industry characterised by intense competitive pressures and exponentially increasing complexity and volatility. The financial services organisation which is able to successfully combine these two elements will have the capability to position itself as a leader in the identification and development of innovative financial products, a capability critical for success within the financial services industry. The science of engineering has within it a special subset devoted to the optimisation of the process of product development. This discipline, known as system engineering, has been extremely effective in the enhancement of product development processes within a traditional manufacturing environment. Tangible benefits of the application of system engineering include a reduced product development cycle, increased product adherence to client specifications, and a reduction in the economic life-cycle cost of the product. Within this thesis the author suggests that the optimal development of financial products in an increasingly competitive environment requires a two-pronged approach. In the first instance the financial services organisation must choose to develop the product which best promotes the medium to long-term strategic aims of the organisation. This is the concept of strategic fit. In the second instance the financial services organisation must have the capability to develop this product more effectively, and more efficiently, than its competitors. As an implementation mechanism the author develops a Financial Product Development Model based on system engineering principles chosen for their applicability to the process of financial product development. Simultaneously, the author develops a Competitive Strategy Framework, a collection of five strategic elements designed to ensure that the financial product development decision displays a measure of correlation to the strategic aims of the organisation. This Competitive Strategy Framework is implemented within the Financial Product Development Model via the use of a Strategic Circuit Breaker, a concept developed by the author and based on the concept of trading circuit breakers as used on the world's major stock exchanges. The aim of the Financial Product Development Model proposed within this thesis is to enhance the process of financial engineering and in so doing provide the financial services organisation with a means of improving its strategic competitiveness within the financial markets. The proposed Financial Product Development Model is validated via the practical application of the model. The results of this validation indicate that significant benefits may be obtained by correctly implementing the model. In addition the author conducts a limited scope industry survey designed to determine the opinion of financial services professionals to the major concepts underlying the model. The favourable results of this survey indicate that (1) the proposed model is practical and applicable within the financial services industry, and (2) the financial services industry in general is unaware of the importance of the process of product development and the manner in which system engineering can be used to enhance this process. By implication the financial services organisation that is able to differentiate its financial product development process from its competitors stands to achieve a significant competitive advantage.
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The impact of auditing and project management misalignment on infrastructure development in South Africa
- Authors: Moagi, Phetole F.
- Date: 2016
- Subjects: Financial engineering , Engineering - Management , Project finance - Management , Infrastructure (Economics) - Management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/242859 , uj:25062
- Description: Abstract: The misalignment between financial and performance auditing in delivering engineering projects (infrastructure), increases and perpetuates unethical behaviour. It further increases lack of transparency, unaccountability, and no respect to the rule of law, unregulated interventions, weak quality controls, and the manipulation of Municipal Financial Management Act (MFMA), weak legal processes and more. The auditing control systems were established to ensure accountability for public use of public funds, compliance, safeguarding public resources against corruption, wasteful expenditure and unauthorised practice. Organisations are solely using this (auditing) to determine their performance and check if internal processes are adhered to/followed (ticking boxes). Organisations receive a clean audit and become insolvent shortly after that or they ask for government bailouts. The recent auditing profession, processional conduct, ethical behaviour, report and relevance leave a lot to be desired. Underperforming State Owned Enterprises (SOEs), infrastructure developments or construction projects, ghost projects, fabricated progress on capital expenditure projects and abandoned engineering projects receive preeminent appraisals    . The current auditing controls are failing dismally to detect these  . This research focus on engineering projects at the public sector (national, provincial and local level in South Africa). The library information from the Association of Municipality Electricity Utilities (AMEU), South African Revenue Protection Association (SARPA), Good Governance Africa (GGA), South African CitiesNetwork (SAcN) and Metropolitan Municipality (metros) websites were used as data collection sources. Focus group discussions, observations, national and regional meetings were used as a mechanism to ascertain data. Visible service delivery projects were selected and analysed to validate the results. The process was a multiple stage process. Different Metros and project categories were used. The results show it is imperative for all stakeholders to align all internal and external control systems, delivery of engineering projects strategies, monitoring and evaluation, auditing (forensic, financial, performance), organisational performance and more. The introduction of grassroots Board of Professionals (BoP), offers Citizen Based Performance Management Structures (CBPMS) and government effective and efficient ways of delivering engineering projects with the involvement of citizens. , M.Phil. (Engineering Management)
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A provisional taxonomy of revenue assurance : a grounded theory approach
- Authors: Massyn Romo, Rosie Hermina.
- Date: 2014-07-15
- Subjects: Telecommunication - Finance - Management , Financial engineering , Revenue management
- Type: Thesis
- Identifier: uj:11691 , http://hdl.handle.net/10210/11413
- Description: M.Ing. (Engineering Management) , Revenue Assurance is an emerging discipline in the Communication Service Provider (CSP) industry. It is a fast changing and maturing field driven by proactive CSPs and industry providers of Revenue Assurance technology and services. Two practice guideline bodies, the TeleManagement Forum and the Global Revenue Assurance Professions Association (GRAPA), have issued various practice guidelines, maturity assessment models, and the first attempts to certify practitioners in this discipline. The discipline, however, lacks a working set of definitions. Industry writing is of commercial value with little contribution from an academic perspective. This study provides a provisional taxonomy as basis for introducing a working' set of definitions to support academic enquiry into the discipline of Revenue Assurance. The study employed Grounded Theory and document analysis techniques to code and analyse data available in the public domain. The result is a set of grounded concepts, re-conceptualised into a taxonomy, which provides structure to academia as primary users. It is hoped that the proposed taxonomy will provide a common base of understanding, which will guide future dialogue and expansion of the field, with contributions from both industry and academia.
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