Mandatory Competencies Flashcards
(63 cards)
What are your responsibilities to external clients?
- Providing a good quality and diligent service, demonstrating due diligence, being competent
- Clear communication and transparency (trust)
- Confidentiality and integrity
How do you adapt your communication style to suit a variety of scenarios and why?
- Tehcnical and specific with lawyers
- Empathetic and willing to listen with community groups
- Collaborative and direct with consultants (when required)
Cannot adopt the same approach, as do not want to offend, for example
How do you negotiate ethically?
RICS Firm:
- Avoid price fixing
- Fees should be market based and agreed on an ad hoc basis.
- Healthy competition is encouraged but aggressive cutting is not allowed.
- Must be completely transparent with clients / consumers so they understand service offering and fees.
At Ballymore:
- No significant reduction in scope
- Not being ‘unfair’ or ‘unreasonable’
What are the provisions of the RICS Professional Standard ‘Surveying Safely - Health and safety principles for property professionals’ 2nd Ed. 2018 (effective Feb-19)?
Sets out good practice principals for the management of health and safety for RICS regulated firms / members.
Keys areas of advice:
Regulated firms must provide…
1. A safe working environment - work equipment & systems
2. Competent staff (‘safe person’)
3. Seeks to ensure that individuals accept responsibility for their own actions,
5. Advice on health & well-being
6. How to address fire safety
How is Surveying Safely structured?
- Personal Responsibilities
- Assessing hazards and risks
- Workplace health and safety
- Occupational hygiene and health
- Visiting premises & sites
- Fire Safety
- Residential Property Surveying
- Procurement & Management of Contractors
What are the provisions of the Health and Safety at Work Act 1974?
- Provide a safe place to work
- Provide safe equipment
- Ensure staff are properly trained
- Carry out risk assessments
- Provide proper facilities
- Appoint a competent person to oversee health and safety
Policed by the Health and Safety Executive (HSE) as a criminal offence (with fines / imprisonment).
Other info included in the professional Standard includes (best practice when visiting site):
- Tell someone where you are going and when you leave the building/site
- Wear appropriate clothing (high-vis, steel-toe boots, hard hat, goggles, gloves and ear defenders
- Ensure to sign in and out
What are the Construction (Design and Management) (CDM) Regulations, 2015? and why were they brought in?
- Regulations for managing H&S on construction projects from pre- to post construction
- Aims to improve the co-ordination & clearly defines responsibilities
- It is a criminal offence policed by the HSE to breach CDM regulations.
Key parts of the Construction (Design and Management) (CDM) Regulations, 2015
- Main duty holders are: Client, Principal Designer, Principal Contractor
- All projects with more than one contractor on site must have: PD, PC and H&S file
- Onus on the client and not the contractor to ensure CDM arrangements
- Construction Phase Plan required for all projects (safety considered at desing stage by PC)
- HSE to be informed if a project lasts longer than 30 construction days with 20+ workers on site, more than 500 ‘person’ days
- CDM file must be maintained during construction and passed to the building occupier / owner, containing H&S info.
Explain your understanding of the term HSE?
- Health and Safety Executive (HSE) is the UK National Authority for managing work related health, safety, and illness issues.
- Their aim is to protect people’s health and safety by ensuring that risks are properly managed.
- They act in the public interest to reduce work related injuries and incidents and support businesses to adapt to remain compliant with occupational health and safety legislation.
What is a Methods Statement?
What is a Risk Assessment?
Document detailing the way a work task or process is to be completed. It should outline the hazards involved and include a step by step guide on how to do the job safely. Must detail which control measures have been introduced to ensure the safety of anyone affected by the task or process.
A H&S risk assessment of the significant hazards, including their likelihood and severity
Simple risk assessment:
Identify (hazards present)
Identify (people at risk)
Evaluate (severity?)
Record (findings)
Review (the R.A regulary)
Advise (all those affected)
What do you understand by the term Generally Accepted Accounting Principles (GAAP)?
Set of acounting rules and standards that govern financial accounting and reporting by businesses
Benefits of GAAP, such as through better clarity and legibility?
- Clear financial information - can reduce mistakes and confusion
- Improved comparability - can help them benchmark performance and optimize operations.
What does a cash flow statement show and what is its purpose
Financial report that shows a business’s cash inflows (receipts) and outflows (expenditure) over a period of time. Includes VAT.
To help show whether a business can meet its expenses - early identification of potential financial issues
What is a ‘balance sheet’
(statement of financial position)
A statement of the business’s financial position showing its assets, liabilities and shareholder equity at a given date, usually at the end of the financial year
Shows Financial Health - whether the company is solvent (able to pay its debts) and how much equity shareholders have.
Also heps understand liquidity and assess creditworthiness
What is a ‘profit and loss account’?
Financial statement that summarizes the income, expenditure, and profits/losses of a company during a specified period
These records provide information about a company’s ability to generate revenues, manage costs, and make profits.
(Used for tax reporting)
How do you recieve, monitor and achieve internal approval on consultant’s contract sums?
- Receiving the Consultant’s Contract Sum
Initial Submission
Review the Contract
Verify Completeness: Ensure all elements included (e.g payment schedules) - Internal Review of the Contract Sum
Check Against Budget
Check Contract Terms and Scope - Monitoring and Verifying the Consultant’s Progress
Track Deliverables
Manage Variations
Record and Approve Invoices - Internal Approval Process
Prepare Documentation for Approval (PFRs) - Achieving Internal Approval
Ensure Transparency
Maintain Compliance with Regs
Why is a business plan important?
It clarifies your vision
Attracts investors and partners
Guides your business operations
What is a business plan and what are the key elements?
A business plan is a document that outlines your business goals, the strategy to achieve them, and the resources you’ll need
Executive Summary (mission statement)
Project Objectives
Sales & Marketing Strategy
Market Analysis
Organisational Structure
5 Ws
What are Ballymore’s corporate objectives/BP?
Build good quality homes
Create special and unique places
Make profit to sustain and grow the business
What does a SWOT analysis do?
It helps organisations understand their internal capabilities and external factors that could impact their success
How to avoid conflict?
- Clear, concise drafting of lease
- Manage all parties’ expectations - clearly communicating objectives
- Keeping good records with sufficient level of detail
What are the main methods of conflict management
What is dispute resolution?
Most basic form is negotiation where parties negotiate a resolution, opposite end is litigation (legal).
