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Project Proposal
CMK
Consulting
XXX Plc (APR) is a leading share registration service provider in Nigeria with over 30 years of share registration experience in the Nigerian
Capital Market. APR participates in various offers, including IPO, Right Issue, Debenture, State and Federal Government Bonds, etc.
XXX Plc is a fully owned subsidiary of United Bank for Africa Plc. APR is a standard-delivery service provider for corporate organizations in
the primary and secondary sectors of the capital market.
APR requires the services of a consultant to assist in a Board Evaluation/ Assessment exercise
Board Evaluation
Board evaluation is a best practice around the World 2
1992: Cadbury Report (UK) first recommended conducting an annual assessment of the boards performance as a best practice in
governance. Conducting an annual board assessment is one of the guidelines in the modern UK Combined Code
OECD Corporate Governance Guidelines noted that regular evaluation of the boards performance was one of the boards key
responsibilities
1.
2.
XXX Website
Board Evaluation Practices, Experiences from Latin American Companies Circle (OECD, IFC, Global Governance
2 Forum)
2003: New York Stock Exchange (NYSE) requires that all listed companies conduct an annual assessment of the performance of the
board
Listed below are the recommended practices regarding board evaluation from a number of governance codes 1
Institution/Source
Frequency
Recommendations
Central Bank of Nigeria Code of
Corporate Governance for Banks and
other Financial Institutions in Nigeria
There should be a formal assessment of the effectiveness of the Board as a whole and
the contribution by each individual director (including the Chairman) to the
effectiveness of the Board
On a yearly basis
The Board should undertake a formal and rigorous annual evaluation of its own
performance and that of its committees and individual directors.
Evaluation of the Board of FTSE 350 companies should be externally facilitated at least
every three years (on a comply-or-explain basis).
A formal evaluation process of the performance of the Board, of individual directors and
of the CEO.
On a yearly basis
1.
Board Evaluation Practices, Experiences from Latin American Companies Circle (OECD, IFC, Global Governance Forum)
3
Role Clarity
Team Work
To Organisation
To Board
To Individual Directors
Demonstrates
commitment
improvement at individual level
and
Clarifies expectations
Encourages
Enables
principles
appropriate
Builds Board/
relationships
CEO/
to
delegation
Management
individual
director
involvement
ownership
Clarifies expectations
1. Seven Steps to Effective Board & Director Evaluations: Kiel & Beck
Work Approach
The high-level work approach to be adopted for this engagement is as illustrated below. It draws heavily from the work of two leading Australian
experts: Geoffrey Kiel and James Beck1
1.0 Determine
Objectives of Evaluation
1. Seven Steps to Effective Board & Director Evaluations: Kiel & Beck
5
Output
Establish what The Board hopes to accomplish with the evaluation exercise:
Distil objectives clearly defined objectives enable The Board to set specific goals for the
A shared understanding of
objectives of the evaluation.
Issues such as complexity of the performance problem, size of the board, stage of the
organizational life-cycle and significant developments in African Prudential Registrars
competitive environment will determine issues to be raised.
Scope of the review (i.e. the number of people involved, resource allocation etc.) will be
determined by the severity of problems facing The Board and the availability of sufficient
resources to carry out an evaluation.
1. Owning Up: The 14 Questions Every Board Member Should Ask by Ram Charan
Output
A wide range of individuals/ groups could be considered for evaluation. At this stage, The Board (with
assistance from the consultant) will determine what groups are most important or relevant. Some
Identified
groups
and
Effective evaluation will require selection of the most appropriate individuals or groups to review.
Options include:
Progress to the evaluation of Board committees, individual directors and the chairperson
Current
Competencies
Competency Gap
Bridging
Interventions
What is needed to do
the job properly?
Addressing weaknesses
and building on strengths
Functional Competencies
Organisational Competencies
Attributes
Strategic Perspective
Leadership
Organisational Awareness
Alliance Management
Customer Orientation
Integrity
Conflict Resolution
Industry Knowledge
Output
Having established the objectives of the evaluation and the people/groups to be evaluated to achieve
these objectives, these objectives will then be elaborated into a number of specific themes to ensure
Specific
themes
for
evaluation
that the:
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Output
Based on the specific needs of African Prudential, a range of qualitative and quantitative techniques will
be selected
Specific
techniques
for
evaluation
Qualitative techniques: The three main methods used for collecting qualitative data in governance
evaluations are interviews, board observation and document analysis:
Surveys are by far the most common form of quantitative technique & will likely be used.
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Business Arrangements
Our professional fees for the arrangement described in this proposal are based on the level of staff and time required to complete the
assignment.
We estimate this assignment will take 1 month.
Based on our understanding of the required scope of the project, We estimate that our services will cost a discounted fee of N 2.16 million,
representing 10% discount on our fees in line with our commitment to partner with you on this strategic initiative.
Our fees exclude VAT and out-of-pocket expenses which are incidental to the assignment. Out-of-pocket expenses will be billed separately at
actual costs incurred, if not provided directly by you. Furthermore, we will bill 60% of the contract sum as mobilisation billing prior to
commencement of the engagement.
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Specifically, he has acquired experience in Enterprise Resource Planning application implementation, Business Process Analysis and
Re-engineering, Human Resources, Telecommunications Engineering, Oil & Gas Industry and Project Management.
Has worked KPMG & Accenture. He worked on a wide range of projects, involving subject areas as diverse as Organisational
Restructuring, Cost-Benefit Analysis, Business Process Analysis and Human Resources. Examples of projects include:
Project manager for HR organizational restructuring project at Federal Inland Revenue Service
Project manager for Design of an Invoicing and Payment Model for British American Tobacco/ Great Brands Nigeria Limited
He was the Group Projects Coordinator at Nigerias largest indigenous software company, responsible for the delivery of projects, CRM
and support activities and a budget of millions of dollars.
Has also anchored projects like a ground breaking study of agricultural value chain (the project was jointly sponsored by a leading
commercial bank & a subsidiary of the World Bank Group)
Has a Bachelors Degree in Electronic Engineering and a Masters Degree in Telecommunications and Information Systems.
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