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Recent visit of "Prachanda" to China

Recent visit to attend Olympic game in china by PM Prachanda has aroused many questions among different parties. India who is always acted as a care taker of Nepal vowed deep concern over the visit and even Indian PM Singh told that it was a mistake.
Though it was a hard decision taken by the Nepali PM to visit China before India which was almost a tradition. But it has initiated a new age of foreign affairs of Nepal.

Current nepalese news

View current nepalese news and videos

http://www.bbc.co.uk/nepali/

http://www.mysansar.com/

http://www.nepalnews.com/archive/main.htm

Watch Mumbai meri jaan online

Go to this link

bharatmovies.com
musicn.movies.com

NEPAl

A country of peace and glory.

Interest rate swap

everybody needs money and business can not run without money. But when one company takes loan from bank then it has to pay interest eithr in fixed rate or in floating rate. If the interest rate is based on floating rate then company has risk of incresing interest rate. What is the solution? Among many , interest rate SWAP is one financial instrument which can reduce interest rate risk.

interest rate swap is recently developed financial tool in which two parties exchange their cash flow generated from interest thereby reducing interest rate risk. How it works?

There must be two parties to exchange the interest rate. One party gives interest of other party and other party does the same. Confused!!!!!!!!!!!!!

We can explain it with one example. Company A which has better credit rating so it can get loan at lower interest rate which is based on floating rate i.e. LIBOR (London Interbank offering rate) e..g at LIBOR +50bp or at fixed interest rate i.e. lets say 10%. At the same time another party B has lower credit rating and can get loan at LIBOR + 150 bp or at fixed rate of 9%.

here party A can get lower interest based on LIBOR but wants to fix its interest rate however if it takes at fixed rate it has to pay 10% and party B can get lower interest at fixed but wants floating rate. If they on their own they can not get cheaper loan and even can not reduce interest rate risk. So swap is one alternative. Among many types of interest rate swap floating to fixed rate swap is available and one bank lets say Deutsche Bank can work as intermediator to deal the swap. How it works here we can show.

Company A pays a fixed rate to the bank at 9.5% and bank pays fixed rate of 9%to company B. At the same time Company B pays a Floating rate i.e. LIBOR + 125 bp to bank and bank pays to company A LIBOR+100 bp.

Now net effect to companoes:

Company A: -9.5%+LIBOR+100bp-LIBOR + 50bp ( to own bank)= 9% fixed

here what ever happens to the floating interest rate net effect to company A will remain 9%

Company B:+9%- LIBOR+125bp-10% ( to own bank)= LIBOR + 225bp

In our previous paragraph we explained that company A wants fixed interest and it got and B wants floating rate and it also got. Now bank has also got the margin . This is a typical win win situation for all parties and interest rate risk has been also reduced.

The first interest rate swap was done between IBM and World bank in 80's and now it has become very popular financial tool.

Program portfolio management

Program portfolio Management

Perspective

Companies can not survive with only one project. Projects are cash flow generator in companies and to survive and to compete in the market more than one project should be managed parallel. We can help to manage your portfolio effectively applying our model which is proven best in communication industry.

Not all the project will add the value to the company so evaluation, prioritize and selection of profitable projects is the main objective of program and portfolio management.

1. Benefit of Program Portfolio Management

Major benefit is to synergize the operation of different projects running at the same time. Companies are running many projects at the same time and to achieve the goal of the company the portfolio should be optimized.

With the help of our project portfolio management companies can better manage their project and portfolio. Following are the major benefits:

1) Better allocation of organizational resources to all the projects

2) Link projects to strategy and ultimately to attain the vision & Mission of the company

3) Better project coordination

4) Maximize the value of portfolio

5) Benefit management for the client

6) Program governance which controls and provide a framework for the effective risk management

2.1. Program portfolio management

All the project activities will contribute to the attainment of mission and goal of the company. Ericsson follows following process for project portfolio management.

Process

1) Business Alignment and project Screening

2) Project scoring

3) Project ranking

4) portfolio simulation

5) Portfolio monitoring

6) Portfolio definition

program management addresses different aspects . These are:

1) Benefit management

Benefit management is the management of program by coordinating different projects aligned to the company’s vision and strategy. In a program many projects are interrelated. Evaluating and allocation of organizational resources efficiently increases the benefit of whole program.

Program benefits can be

a) Tangible such as increased profit, sales etc. which can be quantifiable

b) Intangible e.g. increased customer satisfaction, increased employee morale, reduced absenteeism etc.

2) Stakeholder management

A program has broader stakeholders than that of Project. So program management has to deal with different stakeholders such as Program directors, program managers, project managers, customers, program governance board, and others. Ericsson program management service can address all the expectation of the stakeholders and ultimately lead to the attainment of program and company objectives.

3) Program governance

Third aspect of the program management is program governance and it controls the activities within the program. Project governance controls the company’s investment, monitor the benefits and the result of these activities is to provide a framework for effective risk management.

3. Program Portfolio can be managed using two methods

1) Financial method

2) Non financial method

Return from each project is valuable to the company and we can analyze the financial performance of each project that you run and manage portfolio which will be the optimal. Financial criteria are key to the portfolio management. These criteria we use are:

1) Return on Investment (ROI)

2) Discounted cash flow method: Analysis of project and portfolio performance considering time value of the money.

a. Net present value (NPV)

b. Internal rate of return (IRR)

3) Cost benefit analysis: Analysis of the individual project based of cost and profit. An efficient portfolio can be formed by taking beneficial projects.

Non financial method considers almost all criteria which affect the project and influence its outcome. These methods covers the qualitative aspects of the project portfolio management. Following methods can be used for better portfolio management:

1) Checklist method

a. Check all the requirement of project and portfolio

2) Multiple weighted method

a. Assign weight for each criterion and rank them according to the weight.

4. Value add for the clients

project portfolio management helps to remove following problem in multi project environment and optimize the portfolio performance:

2) under and over utilization of capacity in projects and programs

3) Coordinate all the project to achieve the goal of the company

4) Manage the information for all project and programs

5) Prioritize the projects in portfolio which adds value for the company

6) Make synergy effect of each project to the portfolio