Financial Management

The Finance Manager heads the Finance Division with 5 qualified Accounts Officers, of them two have got professional qualification. A central account of PIACT is being maintained through a ‘Mother Bank Account’ (Core Account) as per requirement of the Regulatory Authority, where all funds including project funds are initially deposited.  The core account helps to record the inflow and outflow of funds to and from the organization.  All funds/ donation are transferred to respective Project Accounts within 15 days, mandatorily.

To meet any temporary shortage, funds from the core account may provide temporary loan to a project account in consultation with respective donor, for continuation of project activities. The loan is refunded as soon as project funds are available.

Generally, the Director and the Deputy Director are authorized to operate all accounts jointly, however the Finance Manager is also joint signatory.  Individual project-wise bank accounts are maintained to facilitate smooth functioning of each project independently.

Internal Audit: There is an Internal Audit Officer (supported by required staff) who works independently and report to the Director directly.  They constantly audit each project activity to safeguard the accounting system from any error, fraud, misappropriation or non-compliance of any procedural requirements.

External Audit: The annual accounts of the PIACT Bangladesh are audited by government registered Audit Firms for each calendar year in accordance with the rules and regulation.  The accounts are also subjected to donors audit.

Human Resource Management

PIACT Bangladesh’s competitive advantage is often derived from its most valuable resource – its people.  PIACT is an equal employment opportunity provider without discrimination. 

As it grows in volume and diversity, PIACT follows a comprehensive human resource planning process as shown in the margin.  It lays emphasis on appropriate staffing for success and through elaborate job analysis and job designs seeks to select adequately qualified and skilled people to meet the organizational objectives in an ever changing environment.

Staff Categories: PIACT has three categories of staff: (a) core staff, (b) project staff including professionals and (c) support staff.  Recruitment to various categories of jobs is normally made through open advertisement in the national dailies and also in the online job site www.bdjobs.com.  For some of the key positions of the project, especially the Consultants are proposed in the project proposal on the basis of qualification and adequacy to particular project.

Recruitment of Staff: PIACT has a Staff-Service Rules and staff are hired through open competitive basis using advertisements and interviews conducted by boards of professionally qualified persons. In-house staff-development programs are regular in PIACT.

Performance Appraisal: PIACT has developed a formal and informal Performance Appraisal system that continuously determine and communicate with an employee about his/her performance. As part of HRM, PIACT offers competitive remuneration package, with provision of incentive pay, bonus, early promotion and special benefits. PIACT also takes care of employee safety and health.

Inter Project Appointment/Transfer: As a measure of flexibility, management allows core staff to work for different projects, where appropriate. This enriches the employees with diversity. PIACT sources recruit both from within and outside.

Staff Administration: All full-time staff (core and project staff) has to sign in the daily attendance register.  Team Leader of each project put countersignature and makes remarks in case of late attendance.  The administration section takes disciplinary action where necessary.

In addition, there is a movement register where officials record their movements.

PIACT maintains personal file of each staff project-wise where CV, appointment letter, joining letter, job description, certificates, leave, etc. are recorded.  HRM is supported by the IT.

Monitoring & Evaluation System

All current projects have in-built monitoring and impacts’ evaluation requirements and adequate mechanisms are provided for each of them. Monitoring tools are specific to each project, derived from projects logical framework or similar given indicators. Each of these M&E systems are anchored to organization’s central monitoring mechanism, which monitors implementation progress in terms of achieving physical and financial targets. Quality aspects are particularly looked into for organization’s future.

Physical, Logistics and Communication Facilities

Situated in a convenient location of Dhaka City , PIACT’s five-storied well-furnished and air-conditioned office provides a good work environment.  In addition to a sufficient number of rooms/spaces for its personnel, PIACT has three training/workshop/conference halls (total capacity=150 persons) that are equipped with overhead projectors plus screens, multi-media projector, power-point facilities, document camera, television sets, VCRs, easel boards, white boards, etc. The approximately 2,000 sq.ft. open space alongside the office building can also be readily converted into a venue accommodating more than 200 people.  PIACT has adequate storage facilities to keep logistics and materials for many large-scale assignments.  It’s IT facility, equipped with a LAN of 40 personal computers, laser printers, color printers and other necessary equipment, is capable of large-scale software development; data processing; database management; print material development and production.  It has reliable standby power generation system.