Management 5-Point Action PlanSummary.ppt

Management 5-Point Action PlanSummary Timeline Completion by June 2010 Problem Identified I. Improve efficiency, effectiveness and controls for IL Match the demands of the process to the level of risk and focus resources on higher risk projects Strengthen IL supervision by increasing resources, support and management oversight of project implementation Tailor design and financing options under the IL instrument more closely to the needs, capacity and risk profile of clients Consolidate multiple rules into clear key principles to inform design and processing Inefficiencies and gaps in control framework governing investment lending (IL) (i) non-rationalized “one-size-fits all ” requirements irrespective of risks (ii) over-focus on project preparation at the expense of implementation, and (iii) outdated and complex policy framework Corrective Action II. Strengthen risk management capacity, incentives and accountability at the project and institutional levels At the project level: 5. Review lines of accountability at the management and staff level 6. Introduce incentives and greater management support and oversight and communicate expectations to staff At the institutional level: 7. Prepare an annual Integrated Risk Report 8. Review QAG, to inform a broader assessment of gaps and overlaps Diffused management and staff accountability and responsibilities for operational quality Inadequate mechanisms for institutional risk identification monitoring and management Inadequate integration of fraud and corruption issues in daily operations III. Better integrate fraud and corruption prevention into operations Establish clear responsibilities and accountability for addressing FC issues Establish appropriate protocols of cooperation between INT and the regions Promote ‘good practices’ across the Bank Group’s work Improve tools such as smart project design Prepare and monitor specific action plans for following up on INT reports Issue OPCS Guidance on addressin