TAM_SIA_HANDBOOK_2009

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					    TurnAround Management (TAM) Programme




                  Handbook for
SENIOR INDUSTRIAL ADVISORS and SPECIALISTS




      For more information about the TAM Programme:
                www.ebrd.com/tambas
TurnAround Management Programme                                                                ab0cd
                                                   Table of Contents



1.       Introduction                                                                               3

2.       Principal Objectives of TAM Projects                                                       4

3.      TAM Projects per Region and Industry                                                       5
     3.1.  Results                                                                                 5
     3.2.  Industries                                                                              5

4.       Funding Sources                                                                            6

5.      Matching Enterprises with TAM Teams                                                        7
     5.1.   Identification of Enterprises                                                          7
     5.2.   Selection Criteria for Enterprises                                                     7
     5.3.   Selection of the TAM Team                                                              8
     5.4.   TAM Team Member’s Role and Responsibility                                              9

6.      The TAM Team Candidates                                                                    10
     6.1.    Candidate Database                                                                    10
     6.2.    Candidate Searches                                                                    10

7.      The TAM Project                                                                            11
     7.1.    Visits to the Enterprise                                                              11
     7.2.    Visit Reports                                                                         11

8.       The TAM Quality Assurance Procedures                                                      13

9.      TAM Companies and the EBRD                                                                 14
     9.1.  TAM/BAS and the EBRD                                                                    14
     9.2.  EBRD General Financing Instruments                                                      14
     9.3.  Financing Instruments for SMEs                                                          15
     9.4.  General principles applicable to all enterprises hoping to attract EBRD Financing       15



                                                    Annexes
Annex I          Standard Model TAM Enterprise Budgets                                             17
Annex II         Questionnaire for CEO at end of TAM project                                       18
Annex III        Travel checklist                                                                  20
Annex IV         Contracts and Invoices Procedures                                                 21
Annex V          Visibility guidelines                                                             25
Annex VI         Contact Information                                                               26




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TurnAround Management Programme                                                                     ab0cd
    1.        Introduction

The TurnAround Management Programme (TAM) is a technical assistance programme operated
by the European Bank for Reconstruction and Development (EBRD) and is run on a not-for-profit
basis. The objective of TAM is to assists small and medium-sized enterprises (SMEs) to operate
successfully and help to develop new business skills at the senior management level in order to be
able to compete in a market economy.
TAM introduces industry specific management expertise by providing the advisory services of
experienced, independent and successful senior executives from economically developed
countries. These advisors transfer management and technical know-how to enterprise, sharing
their commercial experience directly with the CEOs and senior managers at the enterprises.
The TAM Programme assists enterprises, by introducing specifically selected, experienced,
business leaders from market-driven economies as Senior Industrial Advisors (SIAs) and
Specialists to the managing directors of enterprises in the Western Balkans, Central Asia, Early
Transition Countries 1 (ETCs), Mongolia, New EU Member, EU Candidate and potential
Candidate Countries, Russia, Ukraine and Belarus.
A complementary programme, the Business Advisory Services (BAS) Programme, is also
managed by the TAM/BAS Team in London Headquarters. The BAS Programme operates
through local offices and works with micro, small and medium sized enterprises (SMEs) to define
their business needs and how to meet them through local business consultancy services. By using
local consultants, BAS combines the dual role of assisting small enterprises in their business
expansion with helping locally accredited business consultants to develop their skills.
Together, TAM/BAS are complementary schemes providing industry-specific advice aiming to
help SMEs adapt to the demands of a market
economy. Areas of assistance include restructuring
of the business, improving its products, reducing
operating costs, advising on local and export
markets and helping to develop business planning
skills at management level. To achieve this, TAM
has a broad approach focusing on substantial
managerial and structural changes within the
company and each project lasts approximately 18
months; BAS supports narrowly defined projects
with a rapid pay-back and each last approximately
four months.
Although TAM and BAS work mainly with different enterprises, there are examples of enterprises
where both TAM and BAS projects target specific issues in the same company. Both TAM and
BAS operations are coordinated and managed by the TAM/BAS Team in EBRD Headquarters in
London.
TAM/BAS operations are fully Donor funded technical assistance programmes operated by the
EBRD and are run on a not-for-profit basis (i.e. the programme is operated on a cost-recovery
basis).


1
    The ETCs are: Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Mongolia, Tajikistan and Uzbekistan.



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TurnAround Management Programme                                                                ab0cd
2.           Principal Objectives of TAM Projects

TAM works to assist enterprises by achieving the following objectives:
         •     to select potentially viable enterprises where senior management is most likely to
               benefit from TAM support,
         •     to       engage     suitably
               experienced TAM Teams to
               work closely with the
               enterprises’          senior
               management and their teams
               and to provide the required
               Specialist support,
         •     to build the confidence of the
               CEOs and the enterprises’
               senior management in their
               own ability to manage their
               businesses successfully in a
               market-driven economy and
               to adapt to the demands of international markets,
         •     to assist the enterprises to establish strategic direction and, in particular, to install the
               standards and processes necessary to comply with the industrial legislation in their
               export markets,
         •     to support and advise the CEOs in the preparation of a realistic 3-year Business Plan
               based on best international business practices to achieve strategic direction and, where
               relevant, to act as the vehicle for attracting equity investment and/or external debt
               finance,
         •     to show how the competitive position of the Enterprise can be improved by the
               development of marketing strategies for specific products and markets as well as the
               implementation of market-driven sales activities,
         •     to help enterprises to establish and develop a network of international contacts with
               customers, suppliers, distributors, investors and foreign partners,
         •     to assist management to introduce and develop sound environmental practices,
         •     to assist companies to reach quality standards that comply with EU and other developed
               countries regulations.
During the screening interview, the areas of initial assistance to be provided by the TAM
Programme are agreed between the Enterprise CEO and the TAM Team Country Coordinator
(“TC”, please see page 8) and are tailored specifically to the needs of each Enterprise.




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TurnAround Management Programme                                                        ab0cd
3.       TAM - Results and Industries


3.1. Results
The development of strong enterprise management in transition countries is the key to future
economic development and sustainable growth.
]




•    16 years in operation, over 1,500 projects carried out to date

Overall, 85% of projects have been rated as satisfactory or better by an independent evaluator. In a
separate study, the EBRD’s Evaluation Department indicated a 92% success rate for the
enterprises reviewed.
On average, the productivity (turnover per employee) of these enterprises has increased by 40%,
while turnover has increased by 22%. In cases where there is a clear need for redundancies, TAM
may recommend a reduction in the workforce.


3.2. Industries
TAM and BAS work in a wide range of industries from agribusiness to manufacturing and
tourism. In addition, they are at the forefront of business development in the EBRD’s region,
addressing pressing issues such as energy efficiency, environmental protection, gender equality,
rural development and emigration of skilled workers.




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TurnAround Management Programme                                                     ab0cd
4.       Funding Sources

TAM/BAS has mobilised €167 million in donor funding since the Programme’s inception in
1993.
The biggest single donor is the European Union (currently providing funding particularly through
the EAR and IPA) and it has provided a total of €60 million.
TAM/BAS has received funding from more than 20 bilateral donors, namely Austria, Belgium,
Canada, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Japan, Korea, Luxembourg,
the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Taipei China/Taiwan, the UK
and the USA.
In addition to the EU, TAM/BAS is also funded various by other multilateral initiatives and
organisations, including EBRD Early Transition Countries Fund, Mongolian Cooperation Fund,
Western Balkans Fund, Central European Initiative, Baltic Assistance Special Fund, Nordic
Council of Ministers, Global Environmental Facility and the Russian Privatisation Fund.
In 2008, TAM/BAS received funding for the first time from the EBRD Special Shareholders’
Fund, to a total value of €9 million.




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TurnAround Management Programme                                                        ab0cd
5.       Matching enterprises with TAM Teams


5.1. Identification of Enterprises
Enterprises are identified primarily in the following ways:
          • direct approaches from enterprises,
          • BAS local offices,
          • host government agencies, including national investment funds,
          • SME Agencies, chambers of commerce,
          • EBRD’s financial intermediaries,
          • EBRD's Country and Sector Teams
          • funding Donors
          • previous Enterprise referral
          • referral from other organisations.
Enterprises will normally be in the small and medium size range; they will usually employ not less
than 100 and rarely more than 1,000 people.

5.2. Selection Criteria for Enterprises
Enterprises are selected by the TAM Team
Coordinator and the TAM Programme
Manager in London. Projects have to be
approved by their respective Donor before any
formal agreement between TAM and the
Enterprise     is     created.     Contractual
relationships between TAM and selected
enterprises are on a strictly confidential and
proprietary basis.

i.   Mandatory Criteria
              • privatised or government owned with irrevocable commitment to privatise,
              • the Enterprise CEO must have strong wish to participate,
              • any business area except:
                        banking or financial services
                        military products/services
                        gambling
                        tobacco

ii. Factual Criteria
              • potential for export earnings,
              • potential for import substitution,
              • significant domestic importance (including transportation, distribution, retailing,
               service industries, etc),
              • no significant environmental hazards (unless the project has a specific
               environmental focus).




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TurnAround Management Programme                                                        ab0cd
iii. Subjective Criteria
              • potential to be commercially viable in the longer term,
              • ability of the CEO and senior management to benefit from the TAM Programme


iv. Special Criteria for Environmental Projects
              • Significant environment improvements required at the Enterprise level including:
                        environmental protection,
                        energy efficiency,
                        health and safety of employees and
                        ability to meet international environmental standards


5.3. Selection of the TAM Team
The TAM Programme seeks to tailor-make each project to specifically match the Enterprise’s
needs with the experience and expertise of the TAM Team. The TAM Teams are approved in
London after being selected by the TC by reference to mandatory criteria. A TAM Team for each
Enterprise typically consists of:
       • a TAM Team Co-ordinator (TC)
       • a Senior Industrial Advisor (SIA)
       • one or more Specialists
The paramount strength of the TAM
Programme are the SIAs who, by the nature of
their successful careers, have already
confronted and solved problems similar to
those the enterprises they are working with
are facing. Selection criteria for SIAs can be
described in three groups:

i.   Mandatory criteria
              • a minimum 15 years hands-on experience as a Senior Operating Director/Manager
               in a directly related industry sector and of a comparable sized business,
              • multi-national and multi-cultural experience,
              • willing and fit to travel regularly in the Bank’s Countries of Operation,
              • the ability to work in both written & spoken English,
              • nationality - determined by source of funding (see below).

ii. Personal attributes
              • able to make a positive first impression,
              • able to communicate effectively and lucidly, both in writing and orally,
              • able to understand the challenges of market forces,
              • able to work diplomatically in ambiguous situations, and is empathetic to the often
               adverse conditions of a company and the general economic state of the country,
              • aware of the limitations of local translators and interpreters,
              • sensitive to cultural and linguistic differences,
              • willing to work effectively in a small team of equals,


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TurnAround Management Programme                                                        ab0cd
              • temperamentally suited to working in changing conditions,
              • in touch with world-wide industry trends and markets within the area of their
               particular expertise.

iii. Nationality restrictions
              • When the TAM Programme is funded by the European Union, the SIA must either
               be a passport-holder of a member country of the European Union or must be a
               permanent resident and tax-payer of a member country of the European Union.
              • When the TAM Programme is funded by the Bank's Bi-lateral Technical Co-
               operation Funds, the nationality of the SIA must accord with any nationality
               restrictions imposed by the Donor of that Fund.


5.4. TAM Team Member’s Role and Responsibility
It must be clearly understood that the members of the TAM Team act solely in the role of
Advisors to the Chief Executive of the Enterprise to which they were assigned. At no time will
they make decisions nor appear to be initiating decisions inside or outside the enterprise on behalf
of the senior management of the Enterprise.
The role of the TAM Team is to listen, understand, interpret, support, make recommendations,
suggest alternatives, persuade and motivate.
Similarly, any recommendations or actions taken by any TAM Team member will be based
entirely on the judgement and experience of that member. At no time does the TAM Team
member speak for or on behalf of the EBRD.
The TAM Team member is expected to communicate continually with the TAM Team
Coordinator responsible for the assigned enterprise. Any unusual or major initiative is to be
discussed with the TC before such action is taken.




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TurnAround Management Programme                                                     ab0cd
6.        The TAM Team Candidates


6.1. Candidate Database
The senior executives that are involved as advisers in TAM projects have been thoroughly
screened, which includes an interview and submission of CV, references, passport, medical check,
etc. TAM only selects candidates who have extensive hands-on, industry specific backgrounds,
which differentiates TAM from traditional business management consultants. In addition to the
Team Coordinator and Senior Adviser, TAM project teams often involve Specialists, who have a
specialised expertise in one specific business area, e.g. finance, production, marketing, human
resources and environmental protection. TAM currently has a database with over 3.000 advisers.
Candidates for the TAM Programme database are procured by the TAM Team in London from the
following sources:
              • worldwide professional and industrial associations or institutes,
              • the Bank's Board of Directors,
              • the Chairmen and Chief Executives of major international and multi-national
               corporations,
              • Senior Executives Volunteer organisations,
              • the personal recommendations from active TAM Team members,
              • recommendation from TAM National Coordinators.

6.2.Candidate Searches
The Senior Industrial Advisors are engaged for
specific projects only after personal interview,
receipt of professional references and
satisfactory health certificate.
When TAM searches for team members for a
specific Enterprise, the following criteria will be
considered:
              • industrial experience,
              • geographic or sector expertise,
              • specific technical/management
               skills.




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TurnAround Management Programme                                                            ab0cd
7.        The TAM Project

Each TAM Team normally undertakes a 50 work-day (minimum) plan over 18-24 months for one
Enterprise. During this time:
          i. the SIA commits to provide not less than 32 on/off-site work-days during the project
          duration, normally with 6 to 8 on-site visits,
          ii. after each visit, reports are written and sent to the Enterprise CEO and to the TAM
          Team in London who, together with the TC, monitor the progress of each individual
          project,
          iii. after completion, a Final Enterprise Report (FER) is prepared as a management tool for
          the TAM Programme Manager and as a starting point for evaluation of the project by an
          independent evaluator. This is a TAM internal document and is not sent to the company. It
          is intended to illustrate the effect of the TAM Programme on the company and its
          management and compares the situation before and after the Programme.

7.1. Visits to the Enterprise
The first Enterprise visit will normally
be arranged by the TC and will be a joint
visit with the Senior Industrial Advisor
(SIA). Thereafter, visits are arranged by
the SIA directly with the Enterprise
management at a mutually convenient
date. Visits are normally arranged at 5/7
week intervals - but can be sooner if
needed. During the initial visit(s),
agreement should be reached with the
Enterprise CEO as to whether additional
Specialist advice is needed such as
financial,      operational,      quality,
marketing, information technology etc. A Specialist can then be included in the project with the
approval of the TC and the London TAM Team and if the Enterprise budget allows.

7.2. Visit Reports
TAM is obliged to send to the Enterprise CEO a report within two weeks of the end of each visit.
The visit report should therefore be completed within 1 week of the end of each visit, and should
be emailed to the responsible TC who will make any necessary changes and then forward it on to
the TAM Programme Team in London who will make any required further
amendments/formatting and send it on to the Enterprise. SIAs and Specialists should not send visit
reports to the company themselves.
All participants in the visit (i.e., Senior Advisor and/or Specialists) should submit a visit report. In
exceptional circumstances, a Specialist’s report may be incorporated into a Senior Advisor’s
report if they have made a joint visit which focused on the Specialist’s area of expertise. But if
such a joint report is made (and only with the prior approval of the TC), it must be made by the
Senior Advisor and he must clearly state that his report incorporates the report of the Specialist




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TurnAround Management Programme                                                       ab0cd
who accompanied him. In the ordinary course of events, individual reports should be submitted by
each member of a TAM Team even if making a joint visit.
Reports should be prepared using Microsoft Word for Windows. The format for the visit reports
will have been communicated to SIAs and Specialists along with the contract. They should be
short (no more than 3 or 4 pages); based on key issues and possible solutions and because the
reports are addressed to, and for the benefit of, the CEO of the company they should not repeat
information which the company has provided itself. Tables should not be included in the body of
the report.
The first report should begin with a short History and Background of the company and should
include a summary of the last two years Financial Results. The report should deal with, and briefly
describe, each key issue or problem encountered during the visit, possible solutions and the
actions proposed - by whom and by when. This will form the basis of activity before the next visit.
Hand-written reports are not acceptable, and reports prepared using word-processing software
packages, which are not readily convertible to Windows Microsoft Office, will be returned to the
SIA or Specialist for conversion to Word. No exceptions can be made to this rule as the volume of
reports received by the TAM Team does not permit the diversion of resources to deal with typing
or re-typing reports.
Expenses claims cannot be processed until visit reports have been received by the Bank, having
also been duly approved by the TAM TC.




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TurnAround Management Programme                                                      ab0cd
8.        The TAM Quality Assurance Procedures

The TAM Programme has developed structured quality control procedures which form the basis
for regular reports to the Donors on the performance of the TAM Programme.
Three basic tools serve to evaluate the performance of the TAM Teams:
              • TAM Teams' FERs,
              • the responses by Enterprise CEOs to TAM's standard end-of-project questionnaire,
              • follow-up visits 12-18 months after project completion.
FERs are prepared by the TAM TC and the SIA at the end of all individual TAM projects. These
are important tools for management, as inputs to the control of the quality of the TAM
Programme, and also serve as the basis for the independent evaluation of every project.
The external evaluator ratings are based on the FERs prepared by the TAM Teams, the CEOs’
responses to their standard end-of-project questionnaires and discussions with the TAM Team
members.
The purpose of these quality control procedures is to:
              • define the benefits TAM has been able to bring to the enterprises
              • identify potential refinements for TAM Management to improve the design and
               implementation of the TAM Programme
              • assess the performance of SIAs and Specialists and ear-mark high performers for
               new projects
              • apply the lessons learned to future TAM projects




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TurnAround Management Programme                                                        ab0cd
9.        TAM Companies and the EBRD


If you would like more information about EBRD Partner banks, equity funds or the ETC
Initiative and/or would like to suggest an Enterprise to the EBRD for financing, please
contact the TAM Programme Manager in London, Caroline Bosa.


9.1. TAM/BAS and the EBRD
TAM and BAS work closely with EBRD Banking teams in various ways:
     •    Pre-investment cooperation where TAM/BAS introduces enterprises to the EBRD thereby
          providing a possible project pipeline for the EBRD.
     •    Post-investment cooperation when the EBRD requests specific assistance from TAM/BAS
          after an investment has been made.
     •    Industrial due diligence which utilizes TAM/BAS expertise to assess an Enterprise which
          is seeking EBRD Financing.
     •    Providing candidates for non-executive membership on the board of an Enterprise where
          the EBRD is an equity holder.
The EBRD has invested in 234 projects with 179 TAM or BAS companies amounting to €793,
two-thirds of which has been in loans and one-third in equity. These investments mobilised a total
project value of €1.64 billion.

9.2.EBRD General Financing Instruments
There are two standard financing instruments to obtain investments from the EBRD and its related
financial intermediaries; namely debt and equity.
          i. Debt
The basis for an EBRD loan is the expected cash flow of the project and the ability of the client to
repay the loan over the agreed period. A loan may be secured by a borrower's assets and/or it may
be converted into shares or be equity-linked. Full details are negotiated with the client on a case-
by-case basis. Loan features are usually the following:
     •    Minimum €5 million.
     •    Fixed or floating rate.
     •    Senior, subordinated, mezzanine or convertible debt.
     •    Denominated in major foreign or local currencies.
     •    Short to long-term maturities, from 5 to 15 years.
     •    Project-specific grace periods may be incorporated.
          ii. Equity
The EBRD invests equity ranging from €2 million to €100 million in industry, infrastructure, and
the financial sector. It uses innovative approaches and instruments, and it expects an appropriate
return on its investment. The EBRD will only take minority positions and will have a clear exit
strategy.



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TurnAround Management Programme                                                        ab0cd
The EBRD also participates in investment funds, which in turn invest in medium-sized companies
that need to expand their business. Equity funds are focused on a specific region, country or
industry sector, have local presences and are run by professional fund managers. Their main
investment criteria are consistent with the EBRD's overall investment policy.

9.3. Financing Instruments for SMEs
If an Enterprise requires financing of less than € 5 million the EBRD offers three avenues to attain
this, namely (a) SME credit lines, (b) the ETC Initiative and (c) EBRD supported equity funds.

          i. SME Credit lines
EBRD supports local commercial banks and microfinance institutions through credit lines or
equity investments which provide loans to SMEs and municipalities; loans from these facilities are
typically between €10,000 and € 50,000. Local partner banks consider sound and sensible projects
that support private sector development. Each bank or programme has its own requirements and
investment limits.
          ii. ETC Initiative
Through the ETC Initiative enterprises can obtain financing through the Direct Lending Facility
(DLF), the Direct Investment Facility (DIF) and the Medium-sized Co-financing Facility (MCFF)
in the ETCs.
DLF provides finance for capital expansion, acquisition and working capital from € 0.5 million to
€ 4 million. DIF provides direct equity investments ranging from € 0.5 million to € 2.5 million.
The Medium-sized Co-financing Facility provides co-financing alongside local banks for up to 50
per cent of the loan.
          iii. Equity funds
EBRD supported equity funds support various kinds of investments including business start-ups,
expansion and acquisitions. Some funds specialise in financing companies in need of
restructuring, in distressed situations or mezzanine capital for a later stage.
          iv. EBRD direct investment
Equity finance of up to €6 million for businesses led by entrepreneurs is available directly from
the EBRD through the EBRD Direct Investment Facility (DIF).


9.4. General principles applicable to all enterprises hoping to attract EBRD Financing
Enterprises wishing to raise financing from the EBRD or its intermediaries must comply with the
following criteria:
    •     be of sound integrity
    •     demonstration of management strength and strategy
    •     proven track record and market knowledge
    •     equity cash exposure to the project to be financed
    •     clear business plan
    •     transparency
    •     audited financial statements




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TurnAround Management Programme                             ab0cd




                                         Annexes
                                           for
                                  TAM TEAM HANDBOOK for
               SENIOR INDUSTRIAL ADVISORS and SPECIALISTS




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TurnAround Management Programme                                                                      ab0cd
Annex I             TAM Enterprise Budgets

Please note that the below breakdown is to be used as an indicative example only; individual
projects will have different budgets depending on the funding agreement with the respective
Donor and the country. There can be opportunities to decrease or increase budgets depending on
the progress of the project. Please note the following:
                  • TAM Teams have standard non-negotiable fee structures,
                  • TAM Teams are engaged under the umbrella of personal EBRD Service Contracts
                   which include medical travel insurance,
                  • Daily allowances are in accordance with European Union's approved country rates.

    •      Project Budget for Western Balkans & EU Acceding countries

                                                                                     Total cost per
                                                         Days           Rate            project
                       Team Coordinator                         12           600                7,200
          Fees*
                       Senior Advisor & Specialist              46           500               23,000
                       Team Coordinator                         12           186                2,232
   Per diems**
                       Senior Advisor & Specialist              46           186                8,556
                       Air Travel                               12           900               10,800
 Reimbursable
  Expenses             Local Travel                             12           176                2,112
                       Interpretation/Translation               12           300                3,600


 Total project Budget                                                                          57,500



    •      Project budgets for Central Asia, Russia, Ukraine, Belarus & Early Transition countries

                                                                                     Total cost per
                                                         Days           Rate            project
                       Team Coordinator                         15           600                9,000
          Fees*
                       Senior Advisor & Specialist              56           500               28,000
                       Team Coordinator                         15           230                3,450
   Per diems**
                       Senior Advisor & Specialist              56           230               12,880
                       Air Travel                               12         1,300               15,600
 Reimbursable
  Expenses             Local Travel                             12           170                2,040
                       Interpretation/Translation               12           336                4,030


 Total project Budget                                                                          75,000


    *TAM fees are not flexible. They are fixed at EUR 500 for Senior Advisors and Specialists and EUR 600 for TAM
    Team Co-ordinators.
    **Please note that the per diems rate is subject to changes as per official semi-annual EC update.




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TurnAround Management Programme                                                                                           ab0cd
 Annex II Questionnaire for CEO at end of TAM project
Enterprise name:                                        Country:
Funding Donor:                                          Senior Advisor:
     NOTE: i.                Please mark your answer with an “x” in the appropriate box for each question on a scale of 5 to 1.
     ii.         4=More than I expected; 3=As much as I expected; 2=Less than I expected; 1=Not at all; N/A=Not Applicable

1.         Did the TAM Team help you personally to improve your understanding of how to:
                                                                                              4       3       2       1       N/A
           satisfy customers' requirements
           prepare strategic plans
           build team work in your Enterprise
           improve quality and design of products and services
           deal with environmental problems
           identify priorities



2.         Has the TAM Programme helped your senior management to know more about:
                                                                                              4       3       2       1       N/A
           how to prepare an acceptable business plan
           marketing & selling
           your competitors & markets
           financial controls
           product pricing
           budget planning & costing
           your Enterprise’s strengths and weaknesses



3.         Did the TAM Team help your Enterprise to:
                                                                                              4       3       2       1       N/A
           increase sales
           improve quality of products
           find new foreign contacts
           find better or cheaper raw materials
           identify new sources of finance

4.    As a result of working with the TAM Programme, do you think that your
Enterprise's prospects are:
           Much better
           Better
           About the same
           Worse

5.      Which problems identified during the TAM project do you regard as the highest
priorities for your Enterprise to solve over the next six months?
_____________________________________________________________



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TurnAround Management Programme                                                   ab0cd
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
6.        To what extent were your priorities and objectives for the TAM project achieved?

                                  4     3         2      1

7.   Have you any other comments to make about your experience of working with the
TAM Team:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
8.     Has the Enterprise received any investments during or after the TAM Project? If so,
please write a brief description including the source of the investment, the amount, how the
financing source was contacted and state whether it is from EBRD or related financial
intermediary.
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________



Signed:________________________________ Date:________________________




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TurnAround Management Programme                                                             ab0cd
 Annex III Travel checklist
Please be aware of the following before a trip to a TAM Enterprise is planned

  i        Is travel within your contract – both in terms of funds and time?
       •   Only when you are travelling within your contract are you covered by the TAM
           Emergency Medical Insurance policy (a card with the details will be in your contract
           package and is credit card sized, please keep this with you at all times when travelling).
           Please note that only emergency medical assistance is covered. You should ensure that you
           also possess full personal travel insurance cover at all times.
       •   Check to see if you have enough fee days, per diems and reimbursable allowance in your
           contract to travel. There are three categories of allowances: fee days (combined on and off-
           site days), per diems and reimbursable allowance. These allowances are not
           interchangeable and no individual category should be exceeded. Days spent travelling
           outside your overall maximum contract values in each category will not be covered by
           insurance and anything which has gone over these values will not be paid.
       •   Check to see if the travel is within the duration of the contract. If it falls outside, please
           contact your TC who will request a contract time extension.
       •   Please check with your TC if you require a visa and/or a letter of invitation for your
           travels.

       •   Please note that it is the responsibility of the Advisor or Specialist to be aware of his/her
           contract. If you require a time extension to your contract or additional fee days, per diems
           and/or reimbursable allowance, please notify your TC.



  ii       Emergency contact information
It is important that you advise your TC of your itinerary for your visit so that you can be contacted
in the event of an emergency. A form is provided with your contract for you to complete with
details of next of kin to be contacted in the event of an accident, etc, and which you should return
to the TAM Office in London before your departure.




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TurnAround Management Programme                                                          ab0cd
 Annex IV Contracts and Invoices Procedures
  i        Contracts
       •   Without a valid, signed, original contract on file with TAM Head Office, invoices will not
           be paid
       •   Original contracts and any extensions, without exception, must be requested, issued,
           signed and returned before travel.
       •   Without a valid contract, Advisors are not covered by TAM insurance or EBRD
           protections.
       •   Contracts cannot be back-dated, so invoices for visits not covered by a contract will be
           returned unpaid to the Advisor.

  ii       Invoices
All expenses claims by Specialists and Senior Advisors, together with supporting receipts,
invoices, etc. (originals only please) are submitted to the TC at his home address. He will approve
it and send it on to TAM Head Office for payment. It is suggested that you keep a copy of your
invoice and all supporting documents as these can be lost in the post and you will be asked to
provide duplicates which will create major delays in effecting payment.
(a)        Signing: You must sign your claim; it cannot be signed on your behalf. If it is unsigned
it will be returned to you for your signature.
(b)        Receipts and supporting attachments: You must always include both your airline
ticket counterfoil (i.e., the part that is left when the flight coupons have been removed at the
airline check-in counter) and the boarding passes for each section of your journey. Copies of the
ticket and/or boarding passes are not acceptable; travel agency invoices and receipts should also
be submitted but are not acceptable by themselves. If you have an electronic ticket, include the
emailed print out that clearly indicates dates of travel and cost.
Your travel costs will not be reimbursed unless you submit the original documents, so please do
not lose them or discard them. Failure to include airline tickets and boarding passes is one of the
principal reasons for delays and refusal of payment of claims, so please do not ignore this
warning. The same rules apply to ferry, train, underground tickets, etc. Please note: If a ticket
machine retains your receipt/ticket, include an explanation when claiming the corresponding costs.
(c)   Your Bank Details and Wire Instructions: Please be certain to include all current
bank details on the invoice form. This includes: Bank Address, Bank Account Name, Account
Number, Sort-Code, IBAN, BIC and SWIFT (where relevant). Details must be clearly legible and
complete as required on the invoice form.
Please be advised: Effective from Jan 06 for transfers/payments within the European Union it is
mandatory to include the IBAN number. All European banks have an IBAN number. Please
ensure that this information is included. If your bank is located outside of the EU please provide
the relevant Sort-Code, BIC or SWIFT.
Correspondent Bank Details: If you are requesting a transfer in a currency other than the
operating currency of bank’s location, then you must include a correspondent bank within the
region from where the currency you are requesting originates, i.e. if you are requesting a euro
transfer to a Swiss Bank, you must include a euro zone correspondent bank. Your bank will know
the appropriate correspondent banks to use. If you do not include the relevant correspondent bank



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TurnAround Management Programme                                                            ab0cd
details, you may incur unnecessary exchange rate transaction costs that TAM is unable to
reimburse.
(d)        Reimbursable expenses include:
          1. The cost of Economy Class air transport (or ferry) from your home country to your port
          of entry. On some routes, (usually from other parts of Europe) economy class air fares may
          not be available or are restricted only to journeys which include a Saturday night stay. In
          such circumstances, the lowest cost alternative - usually discounted business (J or D class) -
          should be used, but only after the approval of your TC. You will be asked to supply a letter
          from your travel agent in support of this.
          2. The cost of any visas which you may be obliged to purchase to enter the Country you are
          visiting. You must obtain a receipt and submit it with your claim to obtain reimbursement.
          3. The costs of travel to and from your home/office and the airport (or ferry port) in your
          home country can be claimed but must be the lower of first class rail or public transport fare
          or car mileage at £0.46 per mile or £0.27 per km. If car mileage is claimed then written
          evidence of the first class rail or public transport fare must be shown on each claim.
          4. Within the country of mission, enterprises are contractually bound to provide local
          transport and interpreters under the terms of the TAM/Enterprise contract and these
          arrangements should be made clear at the outset of the programme. However, under the
          condition that the enterprise is unable to pay for these expenses, you may be entitled to have
          them reimbursed dependent on the situation. All other expenses incurred within the country
          of mission should be covered by your per diem allowance.
(e) Exchange rates: Please remember to provide accurate exchange rates and you must do the
exchange rate calculation.
For EU funded contracts the exchange rates must be obtained from the European Commission.
Monthly exchange rates are published in the supplement to the European Union's Official Journal,
which can be obtained from the European Commission.
http://europa.eu.int/comm/budget/inforeuro/index.cfm?Language=en
For non-EU funded contracts:
      •    Conversions can be made with the exchange rates published in the Financial Times or any
           other reliable published source (i.e. Bloomberg, Wall Street Journal, etc), on the first
           Monday of the relevant month. Alternatively, you may use the exchange rate from the day
           on which the expense was incurred. http://markets.ft.com/ft/markets/currencies.asp You
           may also use the monthly EU exchange rates.
Most importantly, please remember to always indicate where you obtained your exchange rates
and print out and attach this documentation to the invoice.
(f) Per Diem Allowances and Fees: The Per Diem allowance is intended to defray costs
reasonably incurred during a typical visit within the country of operation, such as hotels, meals,
drinks, taxis, public transport, telephone calls (business and personal), newspapers, magazines,
stationery, left luggage, parking, postage, entertainment (of yourself, colleagues, Enterprise staff),
etc.
      •     The Per Diem allowance is payable for each night you are in the Country of Operation,
            visiting the enterprise under contract. For example, if you travel on a Monday and depart
            on a Thursday (regardless of the time of your departure), you may claim three per diems,



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TurnAround Management Programme                                                             ab0cd
            one each for Monday, Tuesday and Wednesday nights, regardless of whether you slept in
            a hotel, a public park, the airport, or wherever. You should not claim per diems if you stay
            outside the country of operation while in transit. If you are forced to have a lay-over in
            any country outside of the country of operation you may claim hotel expenses with
            necessary documentation and explanation.
        •   Fees are payable for each day you are in Country of Operation in the performance of your
            contract, including the day of your travel (regardless of the time of your arrival), and the
            day of your departure (regardless of the time of your departure). However, for the
            purpose of calculating the fees to which you are entitled, the days for which a per diem
            allowance is payable are defined as on-site days. Any other day for which a fee is claimed
            (e.g. the day of departure) is defined as an off-site day. Hence, in the example above, you
            would be correct in claiming three per diems, three fee days at the on-site rate, and one fee
            day at the off-site rate.
In summary, per diems equal the number of nights spent in Country of Operation; on-site days
equal the number of per diems; and the day you depart is an off-site day. Exceptionally, per diems
may exceed fee days when you elect to stay in Country of Operation over a Saturday night in
order to obtain a lower air fare. In such cases, additional per diems may be claimed provided the
savings in air fares exceeds the additional per diems.
Additional off-site days may be claimed where you devote substantial time in your home country,
with the agreement of your TC, pursuing actions that you undertake to perform in your visit
report.
(g) VAT Invoice forms: If you are a UK citizen and VAT registered you will need to
complete a VAT invoice form in addition to the regular TAM invoice, please provide all expenses
and fees in the contract's funding currency (usually EUR) and the corresponding GBP equivalent.
Please total the VAT amount and the non-VAT amount in the funding currency and GBP.
(h) Budget: Please be aware that those that overspend will not be paid or reimbursed. Since the
programme is donor funded, there are physically not enough funds to reimburse advisors that have
spent outside of the contract allowances. Details of the overall budget situation can and should be
discussed with your TC on a regular basis.

  iii       Where to send invoices
Please send all invoices to your TAM Team Coordinator, they will send it to the TAM Team.
The EBRD TC Invoice Team will process your invoices, but the invoices should always be sent to
the TAM Team Coordinator; the TC will send it on to the TAM Team in London. In this way
TAM can monitor which invoices have arrived at EBRD and it will be easier for you to mail
everything in one package to one destination. We will deliver the invoices to the Invoice Team
after logging their arrival in the TAM Office.
The invoice form includes the reference number that the EBRD Invoice Team uses to process each
payment and which must be quoted in any enquiry. You can find this "Invoice Team Reference
Number" located on the invoice form, towards the top, on the right.




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TurnAround Management Programme                                                   ab0cd
  iv      Contact for queries
The Invoice Team will contact you directly regarding their queries. When you have a query,
please contact:
                                   Ms Adriena Redgewell
                                   redgewea@ebrd.com
                                    EBRD Invoice Team
                                   Tel: +44 20 7338 6682
                                   Fax: +44 20 7338 6797
Invoices are normally processed within 10 working days of arrival with EBRD Invoice Control,
assuming that the invoice does not have any problems. Please contact the Invoice Team only if
your invoice has been outstanding for a significant amount of time, which is approximately 4
weeks. It is difficult for the Invoice Team to focus on making payments if they are overloaded
with queries. If you raise a query, be sure to include as much information as possible. For
example: 1. Your full name, 2. Enterprise Name, 3. Dates of visit, 4. TAM Contract number, 5.
Invoice Team Reference Number, 6. Funding Details, 7. Amount invoiced.
Also, please copy all the e-mails you send to the Invoice Team to Poonam Pisavaria in the TAM
Finance Team. This will ensure that TAM still knows how many problems you are encountering
with payments and hence can address the issues internally.
                                   Ms. Poonam Pisavaria
                                    pisavarp@ebrd.com
                                   TAM/BAS Programme
                                   Tel: +44 20 7338 7970
                                   Fax: +44 20 7338 7742




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TurnAround Management Programme                                                        ab0cd
 Annex V Visibility guidelines
For all Visibility related queries, please contact TAM Project Officer Caroline Lilliehook
(lilliehc@ebrd.com or +44 (0) 20 7338 7088) at the EBRD HQ in London.

  i        TAM/BAS Visibility
       •   Factsheets: We have a range of factsheets for the countries of operation. Please contact
           HQ if you require any of these. The general TAM/BAS factsheet can be downloaded from
           the website.
       •   Brochure: A general TAM/BAS Brochure has been published. Hard copies can be
           requested from HQ and an electronic copy can be downloaded from the website.

  ii       Your contribution
       •   Stories: We would appreciate your help by providing us with interesting stories for our
           website. This can cover anything from successful projects and trainings to events and
           conferences.
       •   Photographs: New photographs are in constant demand for publications, presentations,
           the website, etc. Please send them to HQ.

  iii      Logos
       •   Please use the TAM/BAS and EBRD logos only with permission from the TAM/BAS
           Management Team in London.




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TurnAround Management Programme




 Annex VI Contact Information
  i       London Headquarters

Charlotte Salford, TAM/BAS Programme Director
John McPhee, TAM/BAS Programme Deputy Director
Caroline Bosa, TAM Programme Manager
Valeria Della Rosa, BAS Programme Manager
Caroline Lilliehook, TAM Project Officer (responsibility for the TAM database)
One Exchange Square
London EC2A 2JN
United Kingdom
Tel: +44 20 7338 7356
Fax: +44 20 7338 7742
tam@ebrd.com

                            Please visit our website at www.ebrd.com/tambas




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