TYPES OF BANK AND THEIR FUNCTION

TYPES OF BANK AND THEIR FUNCTION

Basically there many types of Bank such as Central Bank, universal bank, mortgage bank, cooperative bank and merchant bank.

1) Central Bank:

It can be define as the only financial institution established and charge with the day to day management and control of nation monetary affairs, supervising and co-ordinating the banking and financial activities of the country.

According to Satera, the central bank “is the organs of government that undertake the major financial operation of the government and by its conduct of his operation by other means.

De lecole, in his word, a central bank is a bank which constitute the apex of the monetary and infrastructure of it country and should perform as best it can in the national economic interest following are function; central banks according to the De lecole accepted by the majority of economist.

i. Regulator of currency: The central bank is the banks issue. It has the monopoly of note render money. It has it issue department which note and coin to universal bank.

ii. Banker: Fiscal agent and adviser to the government. Central Bank every where act as banker, fiscal to the government, the central bank keep the deposit of the central and state government and make payment on behalf of government.

iii. Custody and Management of foreign reserves: Central bank keeps and manages foreign exchange of country. It is an official reservoir of gold currencies.

(2) Universal Banks:

It may be defined as an institution set up purposely to safe keeping of money, valuable good and document. It is also refer to retailer bank. Section 61 of decree no 25 of 1991 defined “banking business to mean the business of receiving deposit on current account, saving account or other similar account, paying or collecting cheques, drawn by or paid by customer; provision of financial or such other business as the government by other published in Gazette, designate as banking business.

The importance of universal banks can be best illustrated by a brief explanation of their major function.

a. Pooling saving: Universal banks perform this very important function of all sector of the economy by making available the facilities for pooling saving through the acceptance of deposit from the public and then making these funds available for economically and socially desirable purpose.

b. Payment Mechanism: One other important role performed by universal bank is the provision of payment mechanism or transfer of funds.

c. Extension of credit: one of the primary function of universal bank is the extension of credit worthy customers or borrower. A universal banks lend a certain percentage of cash lying in deposit on the higher interest rate than it pays on such deposit.

d. Safe Keeping of Valuables: This function evaluate during the gold-smith-banker era when gold smith had the strong safe vault that were difficult to enter even by the best of burglars. This is one of the oldest functions of universal bank.

3. Merchant Banks:

“The concept merchant banking” has it origin in the pioneering activities of British merchant who later become acceptance houses. Merchant banking was pioneered in Nigeria by Philip Hill (Nigeria) Limited which universal operation in the country in 1960. It merged with Nigeria acceptance limited which later change it name to Nal Merchant bank.

Merchant bank can be defined as a financial institution that provide medium and long term loans, accept large deposit, bill and deal in stocks.

In Nigeria, section 61 decree no 25 of 1991 legally defines a merchant banks as “A bank whose business include receiving deposit on account, provision of finance, consulting and advisory service relating to corporate and investment matter, making to or managing investment on behalf of any person.

The major function of merchant banks include:

i. CORPORATE FINANCE: Corporate finance was often been as the glamorous side of merchant banking. It corporate finance department job is to advice to the expert on the rules and commercial law, accounting practice at home and abroad.

ii. BANKING FUNCTION: The banking function of merchant banks is the most understandable function. This involve lending the bank’s money, issuing guarantee, arranging import and export credit needing temporary finance pending. The conclusion of finding arrangement.

iii. Issuing house: Merchant bank act as houses at the Nigeria stock exchange.

4. Mortgage Bank:

It may be defined as a financial institution established for acceptance of fixed disposal member of the public with the aim of encouraging them to build their own houses by offering them longer time loan. According to decree No 9, (1997) the federal mortgage bank of Nigeria (FMBN) took over the asset and liability of Nigeria since inception in 1956.

The bank is charge with the responsibilities of supervising and controlling the mortgage institution in Nigeria providing guarantee for loan from private investment sources for building purpose and carrying our research activities and housing in rural and urban area. It is the apex financial institution for mortgage industries with asset and liabilities of the federal mortgage industries with asset and liabilities of the federal mortgage bank in Nigeria.

The function of mortgage bank in Nigeria include:

i. Provision of long-term credit facilities to other mortgage institution in the country at a rate and on term as may be determined by the board in accordance with government policy.

ii. Encourage and promote the development of mortgage institution at state and national level.

5. COOPERATIVE SOCIETY:

Cooperative society is a firm of proprietors, traders or producer unite to foster their groups and individual business interests. Cooperative societies are business organization undertaken by people who are similar interest in West Africa.

There are three main types of cooperative societies are found namely:

i. Producer co-operative society
ii. Consumer co-operative society
iii. Credit and theft co-operative society
Management / control revenue characteristic of co-operative societies

i. Ownership: Any member or person with concern interest collectively own and bear risk.

ii. Capital: Members is entitled to one share only. Any extra capital is raised from members through loans, only a small rate interest is on such loans.

iii. Members have equal opportunities in the management, profit are share among member according to the society since this have equal visiting however usually some members are expected to see day to day running of the society.

iv. Profit: Profit are share among member according to their purchasing power.

v. They give loan the rural investor to facilitate rural development in the country

6. Rural Banking: Federal environment as part of it effort in implementing its third national development plan introduced the rural banking scheme. The central bank of Nigeria due to the reluctant of some banks especially foreign bank in Nigeria to operate in rural area.

The major objective of rural banking includes:
i. Development of agricultural and agro-allied industry in the rural area with a view of achieving the nation objective a self sufficiency in food production.

ii. Creating of credit through equity and loan for the uplifting of small scale industries.

iii. Mobilization saving from the rural sector for the purpose of channeling them to profitable venture.

MEANING AND BACKGROUND OF BANKING IN NIGERIA

MEANING AND BACKGROUND OF BANKING IN NIGERIA

According to agricultural credit act 1928 of Great British a bank is defined as any firm incorporation, company or society carrying on banking business.
Also Dr. H.L Hart on eminent banking authority an England in his book law of banking defines a “bank as a company carrying on business of receiving money and draft upon them from time to time by a customer to the extend of the amount available on their current account.

According to Dr. Wale Adewunmi in his book banking and finance in Nigeria Graham Born London (1989) agreed that the quality and usefulness to an extend by the manner of efficient staff by his action and without saying one word to that effect invited you to come back next time and even to encourage good image of bank. According to Dr. Wale is build through advertisement, publicity a contract with a nudle is efficient staff of bank remove and best badly client that images.

According to Sayer’s (1961) in his book modern banking gave detail definition of bank thus: ordinary banking business consist of changing cash from bank deposit from person or incorporation come (one deposit) to another, give bank deposit in exchange for bill of exchange government bond, the secured or insecured promise to business to repay etc. from the legal view point section 41 of banking act 196 (formally, banking decree 1969) defined a bank as any person carrying on banking business and this include universal bank, and acceptance house, discount house and financial institution, and in his definition banking business means the business of receiving money from outside sources as deposit in respective of payment and granting of money loan and acceptance of credit or the purchase bill and cheque or the purchase of security for account of other or the incurring of the obligation of the acquire claims in respect of loan prior to their maturity or clearing and such other transaction.

Oleshore O. in his paper presented in banking management in Nigeria at the banking and financial lecturer of department economy university of Ibadan (1984) in a matter in one his speech is of the view that customer must not been made that the bank is doing him a favour. That no amount of service, Bally – Goo advertisement or glumick can substitute for good performance and service, which phase the customer, employees should be fully inform about subject important the bank such as policy, operations, services and objections.

However, it is a historical fact that deposit of establishment of indigenous bank universal in Nigeria is never the less dominated by the expatriated led to indigenizing the whole system.

G.O Nwanko on his book Nigeria Financial System Macmillan banking facilities in Nigeria are provided by expatriate bank led to the establishment of indigenous bank. On the other the satisfaction facility provided by the entire banking system as led to attempt to indigenalize the whole system.
According to Mr. Paul A. Ogwuna then the governor of the Central Bank of Nigeria in a lecture delivered at the National Institute of Banker (NIB) annual seminar said that in other to facilitate the growth the authorities need to stimulate the money market by introduction of routine rediscount facilities without to support medium and long term lending.

According to Dr. Orji H.O managing Director and chief executive bank in an article he feature in the Central Bank of Nigeria Bullion Vol. 13 April / June (1991) an appraisal of the Nigeria financial system said that the process of economic expansion might occur due to improvement in the financial system as potential in adequacy linked with the potential real investment and that as the financial constrain to development become acute in the 1980’s the banking sector traced up challenges by harnessing the available capital and saving in the system for potential investors.

The Nigeria banks lies their counterpart in Japan, Germany and India said by chief E.S.O Olisabu in a lecture delivered on 9th February (1993). Organized lecture, can now play a major role in financial industry directly, not just saving it as in the past. This has implication for growth and development.

CAPACITY DECISION

CAPACITY DECISION

Capacity Decision is a financial assessment and a clinical determination about a specific decision that can be implemented to yield good result. Capacity decision abounds in the business world, and balancing various capacities reflects how a company approaches business.

The question managers must answer for the capacity decision area is the same as the question for inventory: How much? Determining the actions capacity to produce goods and services involves both long-term and short-term decision .Long term capacity decisions involve facilities and major equipment investments. Capacity decision also involves short-term situations. In a grocery store, the number of customers that need to pay for their groceries at any point during the day will vary significantly. To provide good customer service, managers must make sure that sufficient cash registers and employees are on hand to check meet check-out demand.

TYPES OF CAPACITY DECISION
PRODUCTION CAPACITY: This deals with output and how a manufacturer balances raw materials, machinery, labour and storage to match demand for its products.

CAPACITY PLANNING: This is the process of determining the production capacity needed by an organization to meet changing demands for its products. Capacity decision affects the production lead time, customer responsiveness, operating ability to complete.

1 MAKE OR BUY DECISION: This is the act making a strategic choice between producing an item internally (in-house) or buying externally (from an outside supplier). The side of the decision also referred to as out sourcing. Make-or-buy decision usually arise when a firm significantly modified a product or part is having trouble with current suppliers, or has diminishing capacity or changing demand.

FACTORS THAT FAVOUR MAKING A PART IN-HOUSE INTERNALLY
1. Cost consideration (less expensive to make the part)
2. Desire to integrate plant operations
3. Need to exert direct control over production and/or quality
4. Better quality control
5. No competent suppliers.

FACTORS THAT FAVOUR FORMS TO BUY A PART EXTERNALLY
1. Lack of expertise
2. Small volume requirements
3. Desire to maintain a multiple source policy
4. Procurement and inventory consideration
5. Items not essential to the firm strategy.

The most important factors to consider in a make or buy decision are cost and the availability of production capacity. Element of The “Make “Analysis Include:

1. Incremental inventory – carrying costs
2. Direct labour cost
3. Incremental managerial cost
Cost considerations for the buy analysis include:
1. Purchase price of the part
2. Transportation cost
3. Receiving inspection costs

2. ACCEPT OR REJECT AN ORDER: a special order is a unique, one time order made by a customer that a variation in the manufacture of your regular products. As a manager your accounting staff should analyze the proposal and justify whether to accept or reject the special order. This will be based on sales revenue, cost of production and the long run. Implication of reducing prices accommodate special orders for the production line, you have to either leverage idle capacity or drop a process segment if you face resource constraints but have to meet the special request.

If incremental revenues are less than incremental cost, reject the special order unless qualitative characteristics overwhelmingly impact the decision.
If incremental revenues are greater than incremental cost, accept the special order unless qualitative characteristics, overwhelming import the decision.

If increments are equal to increment cost, focus primarily on qualitative characteristics to evaluate the decision.

3. CLOSING DOWN A SEGMENT OF A DIVISION: a segment is a component of a business that is or will generate revenues and cost related to operations. Financial information should be available for a segment activities and performance and must also be periodically reviewed by the company, management before a division can be made.

4. RELEVANT COST: Is a cost that only relates to a specific management decision, and which will change in the future as a result of that decision. The relevant cost concept is extremely useful for eliminating extraneous information from a particular decision making process. Relevant costs can be seen when it is determining whether to sell or keep a business unit, make or buy an item, or accept a special offer.

5. INCREMENTAL OR DIFFERENTIAL COST: I the increase in total costs resulting from an increase in production or other activity. For instance, if a company’s total costs increase from #320,000 to 360,000 as the result of increasing its machine hours from 8,000 to 10,000 the incremental cost of the 2,000 machine hours is 40,000.

6. OPPORTUNITY COST: This is the cost of an alternative that must be forgone in order to persue a certain action.

7. IRRELEVANT COST: Is an irrelevant cost because is a managerial accounting term that represents a cost, either positive or negative, that does not relate to a situation requiring management decision. Eg sunk and fixed overhead costs. It is also the cost incurred by a company which is unaffected by managements decision.

8. COMMITEES COST: Is a working sub-committee under the general IBC membership that assists cost engineers by providing metrics and tools that offer an unbiased snapshot of industry cost and schedule estimates and trends.

9. DISCRIMINATORY COST: This is a strategy that charges customers different process for the same product or services.

PURPOSE OF COST ESTIMATE

PURPOSE OF COST ESTIMATE

The purpose of cost estimate is determined by its intended use, and its intended use determines its scope and detail. The estimate becomes one of the most important pieces of information for decision making at the early stage of construction (Serpell, 2005).

Cost estimators develop cost information for owner or managers to use in determining resource and material quantities, making bids for contracts, determining if a new product will be profitable, or determining which product are making a profit for a firm (Dysert, 2006, and Schottlander, 2006).

As for the client, a cost estimate will act as an indicator against the probable cost at the early stage of construction. With the indicator, client can be well aware regarding the project cost and monitoring the project budget. Besides, the cost estimate will ensure that the cost is estimated within the client’s budget. Other than serve as cost guidance, cost estimate actually will help client in tender evaluation process. The cost estimate that was built up earlier from the quantity surveyor will then guide the client to evaluate the most competitive bid (Trost and Oberlender, 2003).

Cost estimates have two general purposes:
1. To help Quantity Surveyors evaluate affordability and performance against plans, as well as the selection of alternative systems and solutions, and

2. To support the budget process by providing estimates of the funding required to efficiently executing a project (Odusami and Olusanya, 2000).

The primary function of preparing cost estimate is to produce an accurate and reliable cost forecast of a construction project. However, what cost should be forecasted depends on the requirements of a client and also upon the information and data available (Elhag et al, 2005).

The purpose of an estimate is to postulate the costs required to complete a project in accordance with the contract plans and specification (Greedy, 2006).

Furthermore, it is important that management has as much information as possible when deciding on funding projects. Skitmore (2007) explains the purposed as to provide the client and design team with as precise an estimate of final cost as possible so that the project can be accomplished within the client’s budget.

Likewise, Marjuki (2006), outlines the purpose of a cost estimate through the following:
1. Provides an assessment of capital cost for a specified piece of work.

2. Forms the basis for planning and control by defining the scope of work and its associated estimated cost.

3. Provide much of the basic information (hours, resources, tasks, and durations) which is needed for preparing a schedule. It also states general resource requirements such as labor, material, and construction equipment.

4. Provides the financial input required to prepare a cash flow curve.

5. Is a catalyst for discussion, idea generation, teams participation, clarity and buy-in, it ties together much of the relevant project information within

a simple document.
Cost estimates is one of the most important factors influencing the client’s decision to build. One of the estimating objectives is to hit target as shown below, hitting the target is not a common occurrence and is an inbuilt problem of estimating. It can also be seen from below that the estimates are all scattered around the target of actual cost without hitting the actual cost.

Hemphill (1968) illustrate subjective estimates (it is based on personal opinion) attempting to hit the target, which is the actual cost. The subjective value chosen by each estimator was considered to represent the resources required by each firm to complete an example office-building project. We can see that the estimates are all scattered around the target of actual cost. Hitting the target is not a common occurrence and is an inbuilt problem of estimating.

ESTIMATED AND ACTUAL COST

ESTIMATED AND ACTUAL COST

Estimated cost can be regarded as the following: capital cost, contract sum. Estimated cost is the sum allocated to complete a project within the required time.

It probably goes without saying that cost should involve all expenditure both estimated and actual that the client has to make. Actual costs and returns are notoriously difficult to predict over the expected lifetime of a building but even estimated costs are by no means a simple proposition.

Ashworth (1988) has suggested that tendering contractors price the whole building at what they consider to be the ‘socially acceptable’ price and that Bill of Quantity rates are merely a means of justifying this figure.

It happens, therefore, that the initial tender price is not what is finally paid. This, without saying, results in poor cost performance of construction projects, leaving many a customer unsatisfied.

It should be noted that a favorable cost performance of any given project depends on the effectiveness of the contract sum. The word “effective” according to the Oxford Advanced Learner’s Dictionary, means having an effect or producing an intended result. It also means ‘actual’, like in actual cost of construction works.

The success or failure of a project is dependent on the accuracy of several estimates prepared throughout the course of the project, that is, from conceptual and feasibility estimates through to the detailed or bid estimates (Enshassi et al, 2007). An accurate, liable and realistic bid preparation demand good judgment and estimating skills (Skitmore et al, 1990, Dysert 2005), there are several factors that the estimator should consider when preparing a construction cost estimate. These cost factors include: fluctuation of costs, traffic conditions, restrictive work hours or method of work, small quantities of work, separated operations, handwork and inefficient operations, accessibility, geographic location, construction season, and material shortages (Enshassi et al, 2007).

The challenge that faces cost estimate is to have it close the actual cost; this inquires good skill, method used and experience. Dysert and Elliot (2000) and Leng (2005) said that an effective estimating organization requires highly knowledgeable personnel, possessing technical skills. Furthermore they define a set of skills as estimating core competencies as follows:
1. Understanding of the capital project process and estimate requirements for each class of estimate.

2. Understanding of the contractual relationships

3. Ability to identify important aspects of the contract

4. Understanding of building design

5. Ability to read and interpret drawings, documents and specifications

6. Detailed understanding of the estimate requirements for each class of estimate.

7. Code of accounts/works breakdown structure/project breakdown structure.

8. Basic project controls on budget, schedule, cost control, change management, progress measurements, earned value, forecasting.

9. Data analysis on labour productivity, database standards and development, historical data analysis, and benchmarking.

10. Strategic estimating skills (capacity factoring, equipment factoring, cost modeling, general factor, and ratio development).

11. Detailed estimating skills (material takeoffs, pricing and costing).

12. Presentation skills including report writing and listening skill

13. Communications and interpersonal skills

14. Organizational ability in order to communicate the estimate in a logical and clear presentation.

15. Well-organized works to the extent that in an unforeseen circumstance, someone else may step in, completes the estimate, and submit a proposal on the project.

The actual costs are defined as real, accounted project costs in Naira determined at the time of project completion. The total project cost estimate includes the estimated costs of all component activities from the initiation of the project design to project construction finalization (Creedy, 2005). These include the cost of: Conducting investigations and developing the design, detailing the design, acquiring land, Construction, Project administration and handover.

ESTIMATING IN CONSTRUCTION AND CONSULTANCY FIRMS

ESTIMATING IN CONSTRUCTION AND CONSULTANCY FIRMS

According to Jagboro (1998), the contractor’s Quantity Surveyor does work very much akin to that of a professional Quantity Surveyor although they have quite a different view point. A professional Quantity Surveyor prices the bill of quantities, which serves as a basis for tendering, often referred to as fair cost estimates which tends to represent the Quantity Surveyors fair price of the project to the client for which contractor’s tendering should be selected.

A contractor Quantity Surveyor on the other hand is referred to as an estimator and he uses his skill, experience and judgment in attempting to assess the extent of likely future costs for the purpose of submitting a tender. The professional Quantity Surveyor emphasizes the impartiality of his attitude to both his client and contractor whereas the contractor’s Quantity Surveyor must take his order from the employer, whose main objective must be to make money, however anxious he is to maintain a reputation for good workmanship (Jagboro 1998).

The method of pricing used by a professional Quantity Surveyor is similar to that of the estimator except that the Quantity Surveyor has the advantage of the fact that he prepared the documents and will be better acquainted with the problems that might affect the estimate by the time the tender document are ready.

TYPES OF CONSTRUCTION COST ESTIMATES

Marjuki (2006) classified the estimating types based on

1. How the estimate will be used.

2. The type, quality and amount of information available for preparing the estimate.

3. The range of accuracy desired in the estimate.

4. The calculation technique used to prepare the estimate.

5. The time chosen to produce the estimate.

6. The method or input and output (manual or computer) used in preparing the estimate.

7. The phase of project (feasibility, appropriation and construction) related to the estimate.

8. For whom the estimate is prepared (owner, contractor or insurance company). Clough (1986) classifies the construction estimating into two major types according to their functions which are:

1. Preliminary (Conceptual) Estimate
2. Detailed (Definitive) Estimates

1. PRELIMINARY ESTIMATES
Preliminary Estimate is also known as a top-down, order of magnitude, ballpark, feasibility, quickie, analogous, pre-design estimate, or preliminary estimate (Leng, 2005).

It is the first serious effort made at attempting to predict the cost of the project. A preliminary estimate is usually performed as part of project feasibility analysis at the beginning of the project. In this way, the estimate is made with limited information on project scope, and is usually made without detailed design and engineering data. The accuracy range is expected to be +50% to –30% (Al-Bani 1996, Leng 2005, Choon and Ali 2008).

Preliminary estimates are generally used by the owner of a project to determine the approximate cost of a project before making a final decision to construct it. The preparation of preliminary estimates requires a clear understanding of what an owner wants and a good “feel” for the probable costs (Heffner, 2004). Hendrickson (2000) stated that, “a preliminary estimate or conceptual estimate is based on the conceptual design of the facility at the state when the basic technologies for the design are known
According to Clough (1986), there are nine different methods of preparing preliminary estimate, they are:

1. Unit rate method
2. Superficial area method
3. Cube Method
4. Storey Enclosure Method
5. Approximate Estimating Method
6. Elemental Estimating Method
7. Cost Modelling Method
8. Cost planning
9. Parametric cost analysis

2. DETAILED ESTIMATES
A detailed estimate is also known as a bottom-up, fair cost, or bid estimate. It can also called “quantity takeoff” because needs to tabulated of all quantities for a project or portion of a project. These quantities are then multiplied by selected or developed unit costs, and the resulting sum represents the estimated direct cost of the facility. The addition of indirect costs, plant and equipment, office overhead, profit, escalation and contingency will develop the total estimate project cost (Leng, 2005, Humphreys, 2004). Detailed estimates are the most accurate estimate because the available information consists of working drawings, detailed specifications, and subcontractors and supplier price quotations. Detailed estimates include direct and indirect cost estimates of materials, labour, equipment, engineering, support staff, insurance, bonds, taxes, allowances, contingencies, and profit (Ahuja et al. 1994). It can be performed only when work items are identified and a takeoff of their quantities is possible.

A detailed estimate requires analysis of the method of construction to be used, the quantities of work, the production rates of resources, and the factors that affect each sub-item (Choon and Ali, 2008). The expected accuracy for a detailed or definitive estimate is within a range of +15% to –5%. Contingency requirements decrease since the cost of the work is the major variable left to the estimator’s judgment (Al-Bani, 1996).

Barrie and Paulson (1992) stated that after conceptual design has been approved and after most or all of the detail design work is complete, approximate estimates are generally supplemented by detailed estimates. The detailed estimate or definitive estimate is made when the scope of work is clearly defined and the detailed design is in progress so that the essential features of the facility are identifiable (Hendrickson 2000). According to Clough (1986), there are two ways of preparing detailed estimate, they are:
1. Unit quantity method
2. Total quantity method

CONSTRUCTION COST ESTIMATE

CONSTRUCTION COST ESTIMATE

Cost Estimate – According to American Association of Cost Engineers (AACE), cost estimates can be defined as “a prediction of the probable costs of a project, of a given and documented scope, to be completed at a defined location and time in the future.” An estimate is a prediction of the expected final cost of a proposed project (for a given scope of work).

By its nature, an estimate involves assumptions and uncertainties, and is therefore associated with some level of error. This level of error and uncertainty can be correlated to probabilities of over-running or under-running the predicted cost. Also, a cost estimate reflects a range of potential cost outcomes, with each value within this range associated with a probability of occurrence (Dysert and Elliot 2000). The accuracy of cost estimates determines to a large extent the feasibility, scale and phases of construction of the project.

On the other hand, Dysert (2006) defined a cost estimate as, “is the predictive process used to quantify cost and price the resources required by the scope of an investment option, activity, or project.” While, Akintoye (2000) defined cost estimate as, “is crucial to construction contract tendering, providing a basis for establishing the likely cost of resources elements of the tender price for construction work”.

If estimates are consistently high, compared to bid costs and ultimately actual costs, fewer projects will be authorized than could have been performed with the resources available, resulting in loss of benefits. If estimates are consistently low, more projects can be authorized than can be fully funded, resulting in project slowdowns, scope changes, performance shortfalls, and generally higher costs and lower benefits. If estimates are consistently neither high nor low, but still inaccurate, the estimated benefit/cost ratios will not be correct and the most beneficial projects may not be authorized, while less beneficial projects are authorized. All of these conditions result in misallocation of funds and a loss in benefits to the public which is an attribute of poor construction cost performance (Flyvbjerg et al., 2002).

The outcome of an estimate can be accurate, underestimate or overestimate. An accurate estimate generally results in the most economical project cost, while an underestimate and overestimate often lead to greater actual expenditures. Underestimate means the design and specifications cost more than they are estimated. It is also often a result of poor planning and inexperience estimating, whereby substantial cost items may be omitted. This unrealistic estimate leads to project delays, reorganization, and re-planning, which usually results in significant cost growth. On the other hand, an overestimated cost can be as bad as an underestimated cost (Ashworth, 1944).

Overestimation of a project at the initial stage can lead to a viable project being dropped or re-tendered when there is no bid close enough to permit project award (Oberlender and Trost, 2001). The complexity of the construction projects and the lack of time allocated for cost estimating often lead to a poor performance of the estimate (Marjuki, 2006).

CONCEPT OF ESTIMATING

THE CONCEPT OF ESTIMATING

Estimating involves the assessment of probabilities and risks making complete accuracy impossible. However within the limits of achievable accuracy, it can be stated that the greater the accuracy, the higher the cost of achieving that accuracy. There is usually a point beyond which the cost is increasing and estimate’s accuracy is greater than the benefit to be gained (Duncan 1996).

Cost estimating for building projects traditionally starts with quantification, a time‐intensive process of tallying components from printed drawing sets or contract documents. Estimators utilize methods from spreadsheets to costing applications to produce the project cost estimate. This process is prone to human error and tends to propagate inaccuracies that creep into the tallies. Researcher and experts give cost estimating different definition, thus the following paragraphs state some of them.

Cost estimation can be explained as the determination accounts for materials, labor, equipment and many other variables that affect conducting that activity (Al-Bani, 1994). Estimating is the process of looking into the future and trying to forecast project costs and resource requirements (Ashworth, 1984). An estimate is a judgment, opinion, forecast or prediction. It is a judgment or opinion of the cost of a process, product, project or service. It is a prediction or forecast of what a work output or work activity will cost (Stewart 1991).

Finally, estimating is a collection and analysis of the bill items which influences and contributes to the cost of the project (Clough, 1986). Consequently, all those definition are similar describing cost estimating as being the process of guessing and foreseeing the future costs of a project or product before it actually exist.

Steps In Developing Effective Communication In An Organization

Steps In Developing Effective Communication In An Organization

There are eight steps in developing effective communication, according to Philip Kotler and Kelvin K (2009). They include: identifying the target audience, determining the objectives, designing the communications, selecting the channels and establishing the budget, deciding on media mix, measurements and manage integrated marketing communication.

1) Identify the Target Audience

The process must start with a clear target audience in mind, potential buyers of the company’s products or the general public. The target audience is a critical influence on the communicators decision about what to say, how, when, where and to whom.

2) Determine the Communications Objectives

Marketers can set communication objectives at any level of the hierarchy – of – effects model. Rossiter and Percy identify four possible objectives as follows:

1. Category need: Establishing a product or service category as necessary to remove or satisfy a perceived discrepancy between a current motivational state and a desired emotional state.
2. Brand Awareness: Ability to identify the brand within the category in sufficient detail to make a purchase.
3. Brand Attitude: Evaluating the brand with respect to its perceived ability to meet a currently relevant need.
4. Brand Purchase intention: Self instructions to purchase the brand or to take purchase related action. Promotional offers in the form of coupons or two-for-one deals encourage consumers to make a mental commitment to buy a product.

3) DESIGN THE COMMUNICATION: The communication to achieve the desired response will require solving three problems. What to say (message strategy) how to say it (Creative strategy, and who should say it) message source.

1. Message strategy: In determining message strategy management searches for appeal, themes or ideas that will tie into the brand positioning and help to establish point-of-parity or points-of-different sense of these may be related directly to product or service performance, where as others may related to move extrinsic considerations.
2. Creative strategy: Communication effectiveness depends on how a message is being expressed, as well as on the content of the message itself. If a communication is ineffective, it may mean the wrong message was used, or the right one was just poorly expressed.
3. Message source: Many communication do not use a source beyond the company itself. Others use know or unknown people. Message delivered by attractive or popular sources can achieve higher attention and recall, which is why advertisers often use celebrities as spokes people.

4) SELECT THE COMMUNICATION CHANNELS

Communication channels may be personal and non personal within each are many sub channels.

1. Personal Communications channel: Allows two or more persons communicate face to face. Person-to-audience, over the telephone or through e-mail. Instant messaging and independent sites to collect consumer reviews are another channel, are of growing important in recent years. Personal communications channels derive their effectiveness through individual presentation and feedback.
2. Non-personal communication channels: Non personal channels are communications directed to more than one person and include media, sales promotions, event and experience and public relations.

FACTORS IN SETTING THE MARKETING COMMUNICATION MIX

FACTORS IN SETTING THE MARKETING COMMUNICATION MIX

Organization must consider several factors in developing their communication mix; type of product market, consumer readiness to make a purchase and stage in the product life cycle.

i) Type of product market: Communication mix allocation vary between consumer and business markets. Consumer marketers tend to spend comparatively more on sales promotion and advertising; business marketer tends to spend comparatively more on personal selling. In general, personal selling is used more with complex expensive and risky goods and in markets with fewer and larger sellers (hence, business market).

ii) Buyer – Readiness Stage: Communication tools vary in cost effectiveness at different stage of buyer readiness. Advertising and publicity play the most important roles in the awareness building stage. Customer comprehension is primarily affected by advertising and personal selling. Customer conviction is influenced mostly by personal selling. Closing the sale is influence mostly by personal selling and promotion. Reordering is also affected mostly by personal selling and sales promotion and some what by reminder advertising.

iii) Product Life-Cycle Stage: Communication tools also vary in cost effectiveness at different stages of the product life cycle. In the introduction stage, advertising, events and experiences, and publicity have the highest cost-effectiveness, followed by personal selling to gain distribution coverage and sales promotion and direct marketing stage, advertising, event and experience and personal selling also become more important. In the decline stage, sales promotion continues strong, other communication tools are reduced, and sales people give the product only minimal attention.

MARKETING COMMUNICATION MIX AND ITS CHARACTERISTICS

MARKETING COMMUNICATION MIX AND ITS CHARACTERISTICS

The marketing communication mix according to Kotler and Kelvin R. consist of six major modes of communication.

(1) ADVERTISING:

Any paid form of non-personal presentation and promotion of ideas goods or services by an identified sponsor

CHARACTERISTICS OF ADVERTISING

Advertising reaches geographically dispersed buyers. It can build up a long term image for a product. Just the presence of advertising might have an effect on sales, consumer might believe that a heavily advertised brand must offer “good value”.

i. Persuasiveness: Advertising permit the seller to repeat a message many times. It also allows the buyer to receive and compare the message of various competitors.

ii. Amplified expressiveness: Advertising provides opportunities for dramatizing the company and its products through the use of print, sound and colour.

iii. Impersonality: The audience does not feel obligated to pay attention or respond to advertising. Advertising is a monologue in front of, not a dialogue with the audience.

(2) SALES PROMOTION:

A variety of short term incentives to encourage trial of purchase of a product or services. Companies use sales promotion tools, compare, contests, premiums, and the like, to draw a stronger and quicker buyer response, including short run effects such as highlighting products offer and boosting sales.

Sales promotion tools offer three distinctive benefits

i. Communication: They gain attention and may lead the consumer to the product.

ii. Incentive: They incorporate some concession, inducement or contribution that gives value to the consumer.

iii. Invitation: They include a distinct invitation to engage in the transaction.

(3) EVENTS AND EXPERIENCES:

Here organization sponsored activities and programs designed to create daily or special brand-related interactions.

CHARACTERISTICS

i. Relevant: – A well-chosen events or experience can be seen as highly relevant because the consumer gets personally involved.
ii. Involving: Given their time, real-time quality, events and experience are more actively engaging for consumers.
iii. Implint: Events are an indirect “Soft sell”.

(4) PUBLIC RELATION AND PUBLICITY:

A variety of programs designed to promote or protect a company’s image or its individual products.

(5) DIRECT AND INTERACTIVE MARKETING:

It involves online activities and program designed to engage customers or prospect and directly or indirectly raise awareness. Improve image or elicit sales of products and services. Direct and interactive marketing takes many forms, over the phone, online, or in person. They share three distinct characteristics. They are:

i. Customized: The message can be prepared to appeal to the addressed individual.

ii. Up-To-Date: A message can be prepared very quickly

iii. Interactive: The message can be changed depending on the person response.

(6) PERSONAL SELLING:

Is a marketing communication mix that involves face to face interaction with one or more prospective purchasers for the purpose of making presentations, answering questions and procuring orders. Personal selling is the most effective tool at later stage of the buying process, particularly in building up buyer preference, conviction, and action. Personal selling has three distinctive qualities.

i. Personal Interaction: Personal selling creates an immediate and interactive episode between two or more persons. Each parity is able to observe the others reactions.

ii. Cultivation: Personal selling also permit all kinds of relationship to spring up, ranging from a matter of fact selling relationship to a deep personal friendship.

iii. Response: The buyer may feel under some obligation for having listened to the sale talk.

REFERENCES
P. kotler & R. L Keller (2009): Marketing management. 13th Edition (New Jessey Pearson Practice Hall) P 23.

Philip Kotler Kevin lane Keller (2006) Marketing Management. 12th Edition USA: (Mc Graw Hill) pg 36.

Hary S. etal (2002): Management information system for information age. 2nd edition USA Mc Graw Hill.

Paul Poters Longman Dictionary of Contemporary English 2nd Edition New Jersey P. 23.

MARKETING COMMUNICATION

DEFINITION OF MARKETING COMMUNICATION

According to Philip K. and Kelvin K. (2009) Marketing encompasses the entire business. It is the whole business seen from the point of its final results, that is from its customer point of view.

To William D.P. and Mccarthy E.J. (2002) marketing is the process whereby society is supplied its consumption, needs, evolves distribution system composed of participant who interact under constraints technical (economic) and ethical (social) create the transaction of flow which resolve market superstition and result in exchange and consumption.

While the Chartered Institute of Marketing defines marketing as the management process that identifies anticipate and satisfies customers requirement profitably.

Now looking at the definition of communication by different authors from different perspective but all pointing to the same thing.

In Harys etal (2002) defines communication as some of these things a person does when he want to create understanding.

While Peter Little (1081) position his communication in business that communication is the process by which information is passed between individual organization by means of presenting agreed symbols.

Paul Poters Longman Dictionary of contemporary English defines communication as the exchange of international news, ideas or opinion.

What then is marketing communication?

According to Philip Kotler and Kelvin Lane Keller (2009) marketing communication are the means by which firms attempt to inform, persuade and remind consumers, directly or indirectly about the product and brand they sell. In a sense, marketing communication represent means by which it can establish a dialogue and build relationship with consumers.

ROLES OF MARKETING COMMUNICATION

Marketing communication performs an important functions for both the organization and the consumers. According to Philip K. and Kelvin K. Those roles are:

1.  Marketing communication represent the “Voice” of the company and brand they sell.
2. It is a means by which organization can establish a dialogue and build relationship with consumers.
3. Marketing communication help to tell and show consumers how and why a product is used by what kind of person and where and when.
4. Consumers can learn about who makes the product and what the company and brand stand for and they can get an incentive or reward for trial or usage.
5. Marketing communication allow companies to link their brands to other people, places events brands experiences, feelings and things.
6. They can contribute to brand equity by establishing the brand in memory and creating a brand image as well as drive sales and event affect shareholder value.

CHARACTER IN THE PLAY “ANOTHER LIFE”

CHARACTER IN THE PLAY “ANOTHER LIFE”

CHARACTER SKETCH OF BUNDU

Bundu is the protagonist of the play “Another Life”. The protagonist is the character who played the most prominent role of the. Bundu is a young man in his thirties, he is a journalist and he was the former SUG president during his university days. Who loved to fight for right and justice for all student and he is also Ramou’s lover, Chief Kuye’s daughter who is the chief security adviser to the President. Bundu is being accused of murder which he did in self defence. His assistant editor Mayekogbon never liked him and when they had a crash, he ended up hitting him hard out of annoyance which lead to the death of his deputy editor. Bundu was helped to escapes out of cell before the final judgment day and he went into a hide- out. He was determined to fight with the last drop of his blood instead of being captured alive and made to face the penalty of the crime he never committed intentionally

CHARACTER SKETCH OF RAMOU

From the play (Another Life) Ramou was known to be the lover of Bundu, who happens to be the protagonist in the play.

Ramou is a young lady of good character, she stands to checkmate and correct the errors in the life of Bundu her lover. Inspite all the misfortunes besetting Bundu, Ramou’s greatest Joy in life was to see Bundu been relief of his predicament engulfing his life.

Ramou was the daughter of the chief security adviser to the president, “She was a graduate”. Her father had never approved her relationship with Bundu, because he hated him in the sense that he is not from a very wealthy background and he doesn’t like his occupation been a journalist.

Finally at the climax of its all the hope of the both young couple happened to be actualized. Bundu and Ramou got married to each other and lived happily.

CHARACTER SKETCH OF CHIEF KUYE

Chief Kuye is the chief security adviser to the president of the country, He is also the father of Ramou, He played a vital role in the play.

He want his daughter to marry a fellow Rich friend son called Balogun, who was a medical doctor and went further to become a fellow of the west African college of surgeon.

Chief Kuye is the Antagonist in the play, because he is against Bundu not to marry his daughter Ramou.

He did not want Bundu to mary his daughter Ramou because he is from a poor family, and also a criminal according to what he hold against him.
On the long run he later step down from chief security adviser of the president because his daughter was involved and he couldn’t stand the embarrassment.

CHARACTER SKETCH OF MRS. KUYE

Mrs. Kuye: who is the wife to chief Kuye and also the mother of Ramou is not happy about the situation and wants to know the truth of the whole story because her daughter is involve. She tries1 as much as possible to persuade her husband chief Kuye to do something about the case and at the end chief Kuye did something within his power to help amend the mess their daughter have chosen to put herself into.

PREVENTION AND CONTROL HEPATITIS B

PREVENTION AND CONTROL HEPATITIS B

Two available hepatitis B vaccines for immunization are Recombivax HB® and Engerix-B (SmithKline Beecham Biologicals).
• Pregnancy is not a contraindication to vaccination.

• For vaccination of adults 20 years of age and older:

• 1-mL dose by intramuscular injection into the deltoid muscle, at initial visit, then one month and six months after the first dose, for a total of three doses
• Consult package inserts for details.

Post exposure prophylaxis for susceptible pregnant women

After Exposure to Persons Who Have Acute Hepatitis B
When exposure has occurred as a result of sexual contact within 14 days after the most recent sexual contact administer

• A course of HBV vaccine into the deltoid as above
• A dose of Hepatitis B immune globulin (HBIG) 0.06 mL/kg IM
• Into the contralateral arm.
• For prophylaxis after percutaneous or mucous membrane injury, a second dose of HBIG should be given 1 month later.

Exposure to persons who have chronic HBV infection

Active post exposure prophylaxis with hepatitis B vaccine alone is recommended for sex or needle-sharing partners and non-sexual household contacts of persons with chronic HBV infection.

Viral vaccines and protective immune globulin preparations are available against HBV. Simple environmental procedures can limit the risk of infection to health care workers, laboratory personnel, and others. With this approach, all blood and fluids materials are considered infectious for HBV and other blood-borne pathogens. Exposure that might place workers at risk of infection include percutaneous injury (such as needle-stick injury) or contact of mucous membranes or non-intact skin (e.g. chapped, cuts, dermatitis) with blood tissue or other body fluids that are potentially infectious.

Methods are devised to prevent contact with such samples. Example of specific precautions include the following: gloves should be worn when handling all potentially infectious materials, protective garments should be worn and removed when leaving the work area; mask and eye protection should be worn whenever splashes or droplets from infectious material pose a risk; only disposable needles should be used; needles should be discarded directly into special containers without re-sheathing; work surfaces should be decontaminated using a bleach solution; and laboratory personnel should refrain from mouth-pipetting, eating, drinking and smoking in the work area (Brooks et al., 2004).

Metal objects and instruments can be disinfected by autoclaving or by exposure to ethylene oxide gas. It is important to use a condom for penetrative sex to prevent passing the virus. Sexual partners of the patient should be tested and immunized against HBV (if not already infected).

a

Hepatitis B virus

Hepatitis B virus

Hepatitis B virus (HBV) is a double-stranded DNA virus in the Hepadnaviridae family. The transmission electron micrograph (TEM) at right shows numerous hepatitis B virus (HBV) virions, also known as Dane particles. In infected persons HBV is found in highest concentrations in the blood, and lower concentrations in saliva, semen, vaginal secretions, and wound exudates. Hepatitis B virus can remain viable for >7 days on environmental surfaces at room temperature (Chang, 2007; Lock & McMahon, 2001).

The average incubation period is 90 days from time of exposure to onset of symptoms, but may vary from 6 weeks to 6 months. Acutely infected individuals develop clinically apparent hepatitis with loss of appetite, nausea, vomiting, fever, abdominal pain and jaundice. Some may have dark urine and gray stool. About one half of acute Hepatitis B virus infections in adults are symptomatic. About 1% of cases result in acute liver failure and death. Sexual transmission accounts for most adult Hepatitis B virus infections in the United States (Brooks et al., 2004).

Approximately 25% of the regular sexual contacts of infected individuals will themselves become seropositive. 10-20% of women seropositive for HBsAg transmit the virus to their neonates in the absence of immunoprophylaxis. In women who are seropositive for both HBsAg and HBeAg vertical transmission is approximately 90%. In patients with acute hepatitis B vertical transmission occurs in up to 10% of neonates when infection occurs in the first trimester and in 80 -90% of neonates when acute infection occurs in the third trimester. (Hollinger and Lau, 2006).
The disease has caused outbreaks in parts of Asia and Africa, and it is now only common in China. About a third of the world population has been infected at one point in their lives, including 350 million who are chronic carriers.

MODE OF TRANSMISSION

Hepatitis B virus is transmitted horizontally (transmission which occurs between genetically unrelated groups) (Dienstag et al., 2007). Horizontal transmission occurs by the exchange of body fluids like serum, breast milk, and in certain circumstances saliva. Transmission of HBV occurs mainly through the following routes:

•  Through unprotected sex (without a condom), penetrative sex (when the penis enters the anus, vagina or mouth) with someone who is infectious.
• By sharing contaminated needles or other drug-injecting equipment.
• By using unsterilized equipment for tattooing, acupuncture or body piercing.
• From an infected mother to her baby, most commonly during delivery (immunization of the baby at birth prevents transmission of Hepatitis B).
• Transmission is also achieved through broken skin or through contact of the mucosa with blood and other contaminated fluids.

Electron microscopic studies reveal up to 10 virions per milliliter of infected blood. The abundance of circulating virions is so high and the minimal dose so low such that, simple practices like sharing a toothbrush or a razor, can transmit infections (Chang, 2007; Barker et al., 1996). However, HBV cannot be spread through sneezing, coughing, or coming in contact with the faeces of someone who is infected.

 EPIDEMIOLOGY

Hepatitis B virus is an ancient disease that has been found in all populations though the incidence and risk is higher among people living in crowded conditions, drug occupations involving blood and blood products such as serum (Lavenchy, 2006). Homosexual males constitute another risk group because, such practice traumatize membranes and permit transfer of the virus into injured tissues. Heterosexual intercourse can also spread infection but it is less likely to do so.

Infection of the newborn in chronic carrier state readily and predisposes to development of the carrier state and the risk of liver cancer in the child.
The tropism of HBV for the liver becomes a significant epidemiological complication in some people (5 – 10% of infected individuals). Persistent or chronic carriers harbor the virus for many years (Willey et al., 2008). The of mosquito which can harbor for several days after biting an infected person has been well documented in the tropics and in some parts of the United States. Hepatitis B infection is more prevalent in Africa, Asia and the western pacific, and least prevalent in North America and Europe.

PATHOGENESIS

The Hepatitis B virus enters the body through a break in the skin or mucous membrane or by injection into the bloodstream (Samuel et al., 2004). Eventually, it reaches the liver cells (hepatocytes), where it multiplies and releases viruses into the blood (viraemia). After an incubation period of 4 – 24 weeks (7 weeks average), some individuals experience malaise, fever, chills, anorexia, abdominal discomfort and diarrhea.

Surprisingly, the majority of those infected exhibit fever, overt symptoms and develop immunity to HBV. In those who experience the disease, the severity of the symptoms and the aftermath of hepatic damage vary widely. Fever, jaundice and rash are common reactions, and a small number of patients develop glomerulonephritis and arterial inflammation.

In 90% of patients, complete liver regeneration and restored functions occur, but for reasons that are not entirely clear, a small number of predisposed older persons develop chronic liver disease in the form of necrosis or cirrhosis (permanent liver scarring and loss of tissue) (Brooks et al., 2004).

The association of HBV with hepatocellular carcinoma is based on the following observations:

I. Certain HBV antigen are found in malignant cells and more often, detected as integrated components of the host genome.

II. Persistent carriers of the virus are more likely to develop this cancer.

Young men from different areas of the world with a high incidence of Hepatitis B (Africa and the Far East) are more frequently affected. The condition is probably as a result of infection early in life and the long-term carrier state. In general, people with chronic Hepatitis B are 200 times likely to develop liver cancer, though the exact role of the virus is still a subject of molecular analyses (Pungpagong et al., 2007).

CLINICAL FEATURES

In typical Hepatitis B infection, elevation of Alanine Aminotransferase (ALT) is the first clinical evidence (Lavency, 2004). It is possible to be infected with the HBV and experience no symptom till very late. Different people show different symptoms while others spread the virus even if they do not show symptoms of the infection, thus called the “Silent Disease” (Samuel et al., 2004).

In some instances, onset of jaundice is often preceded by gastrointestinal symptoms such as nausea, vomiting, anorexia and mild fever. Jaundice may appear within a few days of the prodromal period. Extrahepatic manifestations of HBV infections include a transient serum sickness-like prodromes consisting of fever, skin rash, and polyarteritis; necrotizing vasculitis (polyarteritis nodosa) and glomerulonephritis (Brook et al., 2004). Circulating immune complexes have been suggested as the cause of these syndromes.

Many people who become infected with Hepatitis B virus experiences mild symptoms or no symptoms at all but they may still carry the infectious virus and pass it onto others. In a nutshell, when symptoms appear, they may include:

• A short, mild, flu-like illness
• Nausea, vomiting and diarrhea
• Loss of appetite
• Anorexia (weight loss)
• Jaundice (yellow skin and scleral of the eyes, darker yellow urine and pale feaces
• Itchy skin

IMMUNOLOGY

Infection with HBV of a specific subtype, example HBsAgladw, appears to confer immunity to others HBsAg subtypes probably because of other groups “A” specificity. The immune pathogenic mechanism that results in viral persistence and hepatocellular injury in type B hepatitis remains to be eliminate (Brooks et al., 2004). As the virus is not cytopathic, it is believed that hepatitis presents a host immune attack against HBV infected hepatocytes. Host responses both immunologic and genetic have been proposed to account for the frequency of HBV chronicity in those infected as infants.
About 95% of newborns are infected at birth become chronic carriers of the virus, often for life. The risk decreases steadily with time so that the risk of infected adult becoming carries decreases to 10% (Willey et a, 2007).
Hepatocellular carcinoma is most likely to occur in adult who experienced HBV infection at a very early age and carriers. There for, vaccination to be maximally effective against the carrier states, cirrhosis and hepatoma, it must be carried out within the first week of life. (Brooks et al., 2004).

2.6 DIAGNOSIS
The diagnosis of HBV infection is generally made on the basis of serological findings, virtually all individuals infected with HBV either acutely or chronically will have detectable serum Hepatitis B surface antigen (HBsAg). In acute infection, HBsAg is detectable several weeks after infection and its appearance coincides with the onset of clinical symptoms (punpapong et al., 2007).
The serological pattern of HBV is complex and involves several antigens and antibodies. Routine screening for the virus requires at least two serological markers for completeness. HBsAg is also detectable in acute infection which is characterized by a high rate of viral replication during which immunoglobulin M (IgM) antibodies against core antigens are detectable in the serum and subsequently, IgG antibodies. As acute infection resolves, IgG antibodies against core antigen persists and IgM antibodies and HBsAg become undetectable (Hui and Lau, 2005).

The detection of Hepatitis B antibody (Anti-HBs) means that:

• The individual has antibodies against HBV and is immune to the disease.
• The individual was either vaccinated against HBV or exposed to it as some point in his or her lifetime.

The detection of Hepatitis B core antibody (Anti-HBc) means that:

• The individual has been exposed to HBV and has developed an antibody to only part of the virus.
• The test should be conducted again to find out if the individual has the disease.

The detection of Hepatitis B surface antigen (HBsAg) means that:

• The individual has HBV infection
• The individual can spread the virus to others.

 

The detection of Hepatitis B envelope antigen (HgeAg) means that:

• The individual has a high level of viral infection.
• The individual can be very contagious to others.

In chronically infected individuals, infection can switch from ‘non-replicative’ to replicative and vice versa. One of the goals of treatment is to convert patients with chronic Hepatitis B infection from replicative to HBeAg negative state (Samuel et al.,2004).

By definition, HBV chronic carriers are those in whom HBsAg persist for more than 6 months in the presence of HBeAg or Anti-HBe. In contrast to high titers of IgM-specific anti-HBc observed in the acute phase of the disease, low titers of IgM-specific anti-HBc are observed in the sera of most HBsAg carriers. Small amount of HBV DNA are usually detectable in the serum as long as HBsAg is present (Hollinger and Lau, 2006).

The most useful detection methods are Enzyme-Linked Immunosorbent Assay (ELISA) for HBV antigens and antibodies and Polymerase Chain Reaction (PCR) for the viral DNA.

TREATMENT

The treatment of acute HBV infection is supportive. Patients should be hospitalized if they have coagulopathy, encephalopathy, or severe debilitation. Persons with chronic hepatitis B should be referred to health-care professionals with experience in the treatment of hepatitis B for treatment with alpha-interferon or lamivudine (Barker et al., 1996) Interferon does not appear to adversely affect the embryo or fetus. However, the data is limited, and the potential benefits of interferon use during pregnancy should clearly outweigh possible hazards. Initial data do not suggest that Lamivudine is teratogenic. Lamivudine has been used in the latter half of pregnancy in attempt to prevent perinatal transmission of hepatitis B virus infection with mixed success.
Antepartum
Pregnant Hepatitis B carriers should be advised to
• Obtain vaccination against hepatitis viruses A as indicated.
• Abstain form alcohol use
• Avoid hepatotoxic drugs such as acetaminophen (Tylenol) that may
• Worsen liver damage.
• Not donate blood, body organs, or other tissue.
• Not share any personal items that may have blood on them (e.g., toothbrushes and razors).
• Inform the infant’s pediatrician, OB/GYN, and labor staff that they are a hepatitis B carrier.
• Make sure their baby receives hepatitis B vaccine at birth, one month, and six months of age as well as H-BIG at birth.
• Be seen at least annualy by their regular medical doctor.
• Discuss the risk for transmission with their partner and discuss the need for counseling and testing
• Liver function testing is recommended for women who test positive for HBsAg
The following recommendations from The Society of Obstetricians and Gynecologists of Canada may be helpful in counseling women considering amniocentesis.

PROSPECTS OF WAREHOUSING

PROSPECTS OF WAREHOUSING

PROSPECTS OF WAREHOUSING – Warehouses were neglected in the past. According to John Worman (1980), “Warehouses were manned by unskilled labourers, with no records”.

The warehouses were intended to service other processes. Often located a great distance from the process they were supposed worthy of the attention of the management. Even today many people have not yet realized that stores and materials are really bank notes converted into real and tangible assets and that the space, the material occupy is expensive to provide”.

There is nowadays an urgent need to apply scientific principles to the running of any stores; function.

Let us look forward. The stores of the future will need to be a tailor-made unit just as flexible in its outlook as the factory, ever on the search for improvement and never satisfied with present methods.

The mental approach to the handling problems will need to be scientific and, as with the process in any factory, the administration set-up has to be the handmaidens of the function not its mistress.

Goods movement needs be realised as a scientific problem. The future of warehousing points more and more engineering principles. More and more engineers will need be employed with it contrives, not only because more machinery will be used, but also because of its affirity with production.

It is also clear that warehouses have to be sited on fast main trunk roads.

We have to consider also, new ideas in packaging which influence shape of the articles, and automation of records.

Thus, the application of scientific methods to all activities will mean new thinking by every one, from policy maker to operators, in order that cost can be reduced to their barest minimum both at the separate state of manufacture and distribution and also at the total process.

All of this promises a very existing future for all who are connected with the stores function.

PROBLEMS OF WAREHOUSING

PROBLEMS OF WAREHOUSING

The positive impacts of warehousing notwithstanding, warehousing is associated with some problems. The problems of warehousing are as follows:

High cost – building: A warehouse involves the purchase of land, materials and hiring of labour. This take a huge sum of money to afford. After completion, you would need to fit up the warehouse with the state-of-art equipment and employ additional qualified staff and these involve cost.
Advancement in technology can be a hurdle too. Workers must be able to operate the high technological equipment in order to keep up with changing technology. If the workers are unable to operate the equipment, it may show down the movement and flow of goods leading to a decrease in efficiency and effectiveness.

The equipment are prone to break downs – when a break down occurs, it will affect the processes of the warehouse.
Creation of artificial scarcity – The hoarding of stock in warehouses causes the goods to be relatively scarce in the market. This creates room for customers to be exploited.

Spoilage – when some goods are kept in warehouses beyond necessary, they deteriorate and wear-out.

Obsolescence – each day that passes, new products are produced, therefore goods stored for a very long time can easily go out of fashion leading to cost customers and profits.

Frozen capital – Goods stored in warehouses represent tied up capital that could have been used in various profitable ways. When goods are stored, financial energy are locked up.

WAREHOUSE DESIGN

WAREHOUSE DESIGN
It is clear that the design of a warehouse system concerns a large number of interrelated decision. We attempt to structure the decision in a hierarchical framework. In addition we discuss a number of performance criteria that serve to evaluate alternative designs.

WAREHOUSE DESIGN METHODS
A design process typically runs through a number of consecutive phases, data acquisition, functional specification, technical specificaction, selection of means and equipment, layout, and selection of planning and control policies. Alternatively, these decision may be situated at a strategic, tactical or operational level. The basic storage system is a strategic one where the dimensioning of these system and determination of a layout are tactical decision. Detailed control policies typically belong to the operational level.

WAREHOUSING MODEL
An overview of model and algorithms proposed in the literature for warehousing design, planning and control. In doing so, we follow the classification of problem at a strategic tactical or operational level at each level we further discuss papers within problem.

WAREHOUSE DESIGN PROBLEM: Strategic Level
At the strategic level, two problem clusters have been identified on dealing with the selection of system and equipment based on technical capabilities and the second one dealing with the design of the process flow and the selection of warehouse system based on economic considerations.

According to Keserla and Peters compare the performance of a standard automated storage using analytical expressions and simulation. Dunkin develops a design and algorithm for warehouse containing total-sized load. A very interesting study has been published by Sharp etal. The number of publications concerning design problems on a strategic level appear to be limited despite the fact that at this level the most far-reaching decision are made.

Warehouse Design Problem: Tactical Level
At the tactical level, most decision concern the size of the organization. The publication in this section are classified into storage system type.
Determine the size and layout of conventional warehouse has been the topic of several publications. Berry and Bassan et al analyze the layout of a conventional warehouse. They provide an optimization model to determine the optimal dimension of the layout, in order to minimize handling distance, handling time, space utilization or cost.

Warehouse Design Problem: Operational Level
At the operational level, most decision concern the assignment of task to, and the scheduling and control of people and equipment. The publication in this subsection are problem according to list of topics discuss.
1. Batching
According to Elsayed and Sterm test 24 batching algorithms with the aid of simulation. Rosenwein analyze order maximum throughout in a conventional warehouse with batch by means of a simulation study.
2. Storage Policies
Geotschalckx and Ratliff evaluate storage policies for block storage through an analytical study. Marsh has been working on the same problem but evaluates two alternative policies. Van den Berg and sharp propose a procedure base on linear programming for product allocation in a warehouse consisting of a forward and reserve area to minimize the costs of order picking and replenishment.
3. Routing and Sequencing
Geider and Heeremans analyze routing in a conventional warehouse. Goetschalckx and Ratliff Hall and De Koster and Vander poor determine analytical expressions to evaluate the routing in a conventional warehouse.
4. Dwell Point Selection
Egbelu presents an algorithm for the dwell point selection, using linear programming, also Egbelu and Wu evaluate several dwell point policies with the aid of simulation.
5. Storing and Sequencing
Graves et al evaluate the impact of sequencing and class-based storage policies on warehouse performance, base on analytical expression for continuous racks and numerical procedures for discrete system.
6. Miscellaneous
Sarker and Babu review the literature concerning the operational control of AR/RS’s van den Beg analyzes a number of operational control problem. Forward reserve allocation, class based storage, routing in carousels and AS/RS’s and well point selection.

WAREHOUSE CHARACTERISTICS

WAREHOUSE CHARACTERISTICS

In order to provide a characterisation this section may be viewed, process, resources and organisation. Product arriving at warehouse subsequently are taken through a number of steps called processes.

Resources refers to all means, equipment and personnel needed to operate a warehouse, finally organization include all planned and control procedures used to run the system.

WAREHOUSE PROCESSES

The flow of item through the warehouse can be divided in several distinct phase or processes.

1. The Receiving Process is the first process encountered by an arriving item. Product arrive by trucks or internal transport. (in case of a production warehouse). In this step, the product may be checked or transformed.

2. In the storage process tem are placed in storage location. The storage area may consist of two parts. The reserve area where products are stored in the most economical way (bulk storage area) and the forward area where products are stored for easy retrieval by an order picker, product in the forward area are often store in smaller amounts in easily to access storage modules.

3. Order picking refers to the retrieval of items from their storage location and can be performed manually or (partly) automated in succession, these item may be transported to the sorting and / or consolidation process. Consolidation here refers to grouping of item destined for the customer at the shipping area, orders are checked, packed and eventually loaded in trucks, trains or any other carrier.

WAREHOUSE RESOURCES

A number of resources can be distinguished for an extensive review.
1. The storage unit, in (or on) which products may be storage units are pallets carton boxes and plastic boxes.

2. The storage system: this may consist of multiple subsystems that store different types of products, storage system are very diverse; they may range from simple shelves up to highly automated system, containing automated cranes and conveyors

3. The retrieval of items from the storage system can be performed manually or by means of pick equipment.

4. Other equipment that support the order picker are called order pick auxiliaries, for example bar code scanners.

5. A computer system may be present to enable computer control of the processes by warehouse management system.

6. The material handling equipment for preparation of the retrieved items for the expedition include sorter system, palletizers and truck loaders.

7. Finally personnel constitutes an important resources, since warehouse performance largely depend on their availability.

WAREHOUSE ORGANIZATION

In this subsection, we discuss organizational issues in a warehouse.
1. The far most important decision concerns the definition of the process flow at the design stage. For example: the decision of use a separate reserve area since this implies that a replenishment process will be part of the warehouse operation, the retrieval of item in batches or the splitting of the pick area in zones which both require a sorting process and / or consolidation process or the use of separate storage and retrieval aisles.

Furthermore some process require specific organizational policies.
At the receiving process, an assignment policy determines the allocation of trucks to docks.

At the storage process, items are transported to the storage system and are allocated to storage location.

Several storage policies exist. A dedicated storage policy prescribes a particular locations for each product to be store, whereas a random storage policy leaves the decision to the operator. Correlated storage or family grouping, aimed at storing products at nearby position if they are often required simultaneously.

At the order picking process (part of) orders are assigned to one or more order pickers. Various control problems deserve attention here.
Firstly, the total pick area may be divided into picking zones, to be served by different order pickers, through a zoning policy.
Two alternative policies exist parallel or sequential zoning second, order are pick one by one (single order picking) or in batches (batch picking) if batch picking is selected this directly implies that the pick orders must be sorted. Again two sorting policies exist: pick and sort (sequentially) and sort while pick (simultaneously).

Third, a routine policy may be define the sequence of retrieval and the route to visit the retrieval location.
Finally a dwell point policy may be prescribe, the position of idle order equipment.

If consolidation and sorting process is present, order are allocated to output lanes by a sorter lane assignment policy.

At the shipping process, orders and trucks are allocated to docks by a dock assignment policy.

Finally, allocation of tasks to personnel and equipment are addressed by operators and equipment assignment policies.

FUNCTIONS OF WAREHOUSES

FUNCTIONS OF WAREHOUSES

The following are the functions of warehouses, Receiving, inspection, storage, order – order picking / selection sortation and shipping, cross – docking and replenishing.

1. RECEIVING: This includes the physical unloading of incoming transport, checking, recording of receipts, and deciding where the received goods are to be put away in the warehouse. It can also include such activities as unpacking and repackaging, quality control checks and temporary quarantine storage for goods awaiting clearance by quality control.

2. INSPECTION: Quality and quantity check of the incoming goods for the required characteristics.

3. REPACKAGING: Incoming lot may be having non-standard packaging which may not be stored as it is in the respective location. In those cases these materials have to be repacked in units loads / pallet loads suitable for storage.

4. PUT AWAY: Binning and storing the goods in their respective location including the temp locations from the receiving docking area.

5. STORAGE: Binning the approved material in their respective location.

6. ORDER – ORDER PICKING / SELECTION: Goods are selected from order picking stock in the required quantities and at the required time to meet customer orders. Picking often involves break bulk operations, when goods are received from suppliers in, say, whole pallet quantities, but ordered by customers in less than pallet quantity. Order picking is important for achieving high levels of customer. It traditionally also takes a high proportion of the total warehouse staff complement and is expensive. The goods design and management of picking systems and operations are consequently vital to effective warehouse performance.

7. SORTATION: This enable goods coming into a warehouse to be sorted into specific customer order immediately on arrival. The goods then go directly to order collation.

8. PACKING AND SHIPPING: Picked goods as per the customer order are consolidated and packed according to customer order requirement. It is shipped according to orders and respective destinations.

9. CROSS – DOCKING: Move product directly from receiving to the shipping dock. These products are not at all stored in the specific locations.

10. REPLENISHING: This is the movement of goods in large order quantities, for example a whole pallet at a time, from reserve storage to order picking, to ensure that order picking locations do not become empty maintaining stock availability for order picking is important for achieving high level of order fill.

It helps determine minimum and maximum level of raw materials.
It helps in stabilizing prices of goods in the market.
It facilitates the battle against smuggling as bonded goods seized are kept in bonded warehouse.
It removes completed goods and holds them until they are needed by customers.
It provides a continuous flow of raw materials and made – up parts, so that production can proceed at its optimum pace.

TYPES OF WAREHOUSE

TYPES OF WAREHOUSE

In order to meet their requirement various types of warehouse came into existence which may be classified as follows.

1. PRIVATE WAREHOUSE: The warehouse which are owned and managed by the manufacturers or traders to store, exclusively their own stock of goods are known as private warehouses. Generally these warehouses are constructed by the farmers near their fields, by wholesalers and retailers near their business centres and by manufacturers near their factories. The design and the facilities provided therein are according to the nature of product to be stored.

2. PUBLIC WAREHOUSE: The warehouse which are run to store goods of the general public are known as public warehouses. Any one can store his goods in these warehouses on payment of cents. An individual, a partnership firm or a company may own these warehouses. To start such warehouses a license from the government is required. The government also regulate the functions and operations of these warehouses. Mostly those warehouses are used by manufacturers, wholesalers, exporters, importers, government agencies etc.

3. GOVERNMENT WAREHOUSE: These warehouses are owned, managed and controlled by central or state governments or public corporations or local authorities. Both government and private enterprises may use these warehouses to store their goods. Central warehousing corporation of India, state warehousing corporation and food corporation of India are examples of agencies maintaining government warehouses.

4. BONDED WAREHOUSES: These warehouses are owned, managed and controlled by government as well as private agencies. Private bonded warehouses have to obtain license from the government. Bonded warehouses are used to store imported goods for which import duty is yet to be paid. In case of imported goods the importer are not allowed to take away the goods from the ports till such duty is paid. These warehouses are generally owned by dock authorities and found near the port.

5. CO-OPERATION WAREHOUSES: These warehouse owned, managed and controlled by co-operative societies. They provide warehousing facilities at the most economical rates to the members of their society.

CONTRIBUTIONS OF THE IMF

CONTRIBUTIONS OF THE IMF

Member countries of the IMF have access to information on the economic policies of all member countries, the opportunity to influence other members’ economic policies, technical assistance in banking, fiscal affairs, and exchange matters, financial support in times of payment difficulties, and increased opportunities for trade and investment.

The IMF is only one of many international organisations, and it is a generalist institution that deals only with macroeconomic issues; its core areas of concern in developing countries are very narrow. One proposed reform is a movement towards close partnership with other specialist agencies such as UNICEF, the Food and Agriculture Organization (FAO), and the United Nations Development Program (UNDP).
Jeffrey Sachs argues in The End of Poverty that the IMF and the World Bank have “the brightest economists and the lead in advising poor countries on how to break out of poverty, but the problem is development economics”.

IMF loan conditions cannot stand alone and produce change; they need to be partnered with other reforms or other conditions as applicable, summarily the following are common areas IMF have contributed to the development of developing countries:
1. Economic development
2. Support of military dictatorships
3. Impact on access to food
4. Impact on public health
5. Impact on environment

References

Narasimhan, M. (2008), The International Monetary System – Its shortcomings and iniquities in relation to developing countries, Chaugen Art Press, New Delhi India.

Fischer, Stanley (2003). “Financial Crises and Reform of the International Financial System”. Review of World Economics. Springer Publications.

Buira, Ariel (2003). “An Analysis of IMF Conditionality”. G-24 Discussion Papers . United Nations Conference on Trade and Development (22).