Assignment

Introduction
Brazil is classified as a developing nation due to its Human Development Index score. Brazil is a large nation located in South America. It is well endowed with various natural resources. The Human Development Index score is determined by specific criteria including education, Life expectancy, availability of technology, availability of healthcare and income. Since 2015, Brazil has experienced a high increase in its Human Development Index score. Today, it is classified as a “high” HDI nation. This means that it is in the upper quadrant that contains the upper tier of developing nations.

Question 1
Brazil has previously experienced financial problems. The financial problems emerged due to dictatorial government and corruption. Both the IMF and World Bank interfered with the aim of reducing inflation and improving exchange rates. For a long time, the government of Brazil worked closely with the two institutions in its efforts to settle the foreign debt, but the country’s debt situation only deteriorated (Remmer, 2004). Prior to obtaining any help from the IMF and World Bank, the country had to accent to its state of affairs, which involved executing the Structural Adjustment Programs. The program involved taking measures including minimization the growth in the money supply, liberalizing its foreign exchange, eliminating subsidies, minimizing government spending and removing price controls among other measures (Chossudovsky, 2003).

The IMF and World Bank have offered various economic developments. The efforts have been criticized for neglecting the needs of the poor majority and prioritizing multinational corporations and wealthy lenders in the industrialization. In Brazil, the IMF and World Bank has intervened in domestic politics by supporting one side in the heated social debate. As a result, the institutions have interfered in the most political of decisions involving the allocation of national resources (Santiso, 2001). Hence, they have undermined Brazil’s national democracy.

Brazil has had to adhere to the conditions set by the institutions so as to sustain its economy. When Brazil liberalized its foreign market, the country recorded a considerable growth in imports. This is not healthy for the country’s advancing economy (Danaher, 1994). The significance of IMF conditions could help Brazil through access to outside markets for its agricultural products. However, Brazil still faces market barriers for its products (Mosley et al., 1995). The broad market opening affected Brazil’s trade deficit and devalued its currency. Under the guise of advancing “free trade,” financial stability and market liberalization, the two institutions have forced a reduction in education, health care, and other social services thereby increasing inequality and deepening poverty.

On the other hand, IMF and World Bank have assisted Brazil stabilizing its economy and eradicating its debt crisis. Through Washington Consensus sponsored by the two institutions, Brazil implemented a fiscal policy, aimed at development programs, reducing government salaries and cutting down public sector investment.

Question 2
For Brazil, healthcare is a priority. Therefore, it is the responsibility of the state to ensure that health facilities are available and funded. Healthcare is a constitutional right in Brazil. The Health Ministry carries out national health policy while both the government and private sector are responsible for the provision of healthcare. The effects of a healthy population on the economy are clear. First, a nation with a healthy population finds it attain sustained growth. The provision of primary healthcare enables prevention of diseases for the benefit of the economy (Santiso, 2001).

Secondly, the healthcare performance is linked to economic prosperity. A healthy population can achieve better productivity. Thirdly, a healthy population has a higher life expectancy. This is necessary for economic development. Investment in healthcare is important for economic growth given that healthy workforce is more delivers consistent production. The fourth is that a healthy population reduces the burden of illnesses and costs associated with health issues. This benefits the rapid economic growth. In order to achieve these, the Brazilian government provides a universal healthcare system that allows citizens to afford private healthcare. The system is non-exclusive and accommodates everyone, including visitors (Falleti, 2010). The problem with its health care system is that a substantial amount of spending on healthcare is private.

Question 3
Brazil has faced a number of difficulties in its healthcare financing. This has been linked with low investment from the government. Despite the situation, the country does depend much on foreign aid to support the provision of healthcare to its citizens. Foreign aid is largely used for servicing its debts. The British government is a key supporter of Brazil. The country has made a substantial step towards the reduction of HIV/AIDS and has surpassed the expectations of the World Bank Brazil has emerged as a leader in the exchange of expertise and resources among developing countries. Brazil’s portfolio of domestically developed interventions, including the public production of ARVs and CCTs has positioned the country’s aid’s regime to capitalize on improving the national balance sheet. In 2015, Brazil enacted new legislation requiring international private investors to purchase and operate healthcare facilities in the nation. Investment in healthcare by foreigners has become desirable due to a reduction in value of domestic currency.

Verifying the variance

Variance shows the change from a particular period to another which can be in months, quarters, or years. According to Garrison, Noreen, and Brewer (2003), variance analysis is necessary when evaluating the financial statements and departmental level budgets for the overall financial health of an organization or department. The calculation of variance helps to establish whether an organization is growing or not and at what rate. Variance analysis provides the management team with concrete information on how to make business decisions that would strengthen the financial position of an organization (Garrison, Noreen & Brewer, 2003). The Northeast Health System appears stable in various financial aspects but with normal changes between 2010 and 2011. The health system income statement shows that there was a decrease in the total unrestricted revenue and support in 2011 as compared to 2010 though the total expenses reduced from 2010 to 2011. However, the changes in unrestricted net assets show that year 2011 ended with negative (-) changes as compared to 2010 probably due to huge pension and post-retirement remittances in 2011.

From the variances data obtained, the major positive variances between 2010 and 2011 are observed in cash and cash equivalents (41.3), excess of revenue and gains over expenses (223), net assets from restrictions of purchase of property (68.3), and pension and post-retirement related adjustments (390.3). The significant negative variances are observed in prepaid expenses and other current assets (-87.9), non-operating gains (-197.4), change in net unrealized gains and losses on investments (-170.9), total other changes in unrestricted net assets (-578.1), and a decrease in unrestricted net assets (-283.6). The variances show that there were significant differences in particular aspects of the financials of Northeast Health System both positive and negative.

According to the proportional allocation analysis data, the most significant positive proportions are net patient service revenue for both 2010 and 2011[98.0 (2011); 97.7 (2010], income from operations in 2011 (211.9), change in net unrealized gains and losses on investments in 2011 (167.1), and decrease in unrestricted net assets in 2011 (158.1). The most significant negative proportions from the analysis data are non-operating gains in 2011 (-111.8), and pension and post-retirement related adjustments in 2011 (-76.4).

Most of the financial aspects of Northeast Health System are not heading in the right direction since most of the variances are negative. It shows that the financial health of the firm in 2010 was better than that of 2011. However, the variances in pension and post-retirement related adjustments and excess of revenue and gains over expenses shows that there were more expenses on the two items in 2011 than 2010. Regarding the firm liabilities, the changes were not significant that showed a level of stability. The firm’s assets appear to be on a downfall trend which reveals of some losses or depreciation. For the proportion allocation analysis, it is evident that unrestricted revenues and support decreased in 2011 as compared to 2010, total expenses also reduced in 2011 thereby making the gains over expenses to increase in 2011 as compared to 2010. The major problem experienced in 2011 was the increase in pension and postretirement adjustments as well as fluctuations in unrealized gains and losses on investments.

I would recommend certain actions to the Northeast Health System regarding decreasing or increasing the significant variances and proportional allocations. First is to reduce the accrued wages and vacation payable, the accrued pension liability, and professional liability reserves. The Health facility ought to diversify on the mechanisms of revenue generation to ensure there is an increase in cash flow. The allocations for pension and post-retirement adjustments ought to be controlled to avoid the rapid changes in unrestricted net assets.

PMP Prerequisites: Explained

Before embarking on the journey to become a Project Management Professional (PMP), it is crucial to understand and fulfill the prerequisites set forth by the Project Management Institute (PMI). The PMP certification is globally recognized and demonstrates an individual’s proficiency and competence in project management. This article outlines the prerequisites required to pursue PMP certification, ensuring that aspiring professionals are well-prepared for the process.

Educational Background
One of the primary prerequisites for PMP certification is having a solid educational background. PMI mandates that candidates possess a secondary degree (high school diploma, associate’s degree, or global equivalent) or a four-year degree (bachelor’s degree or global equivalent). This educational requirement serves as a foundation for the complex project management concepts covered in the certification exam.

Project Management Experience
In addition to educational qualifications, PMP candidates must also demonstrate substantial project management experience. The amount of required experience varies depending on the candidate’s educational background:

Secondary Degree Holders: Candidates with a secondary degree must have at least five years (60 months) of project management experience. This experience should include leading and directing projects, as well as managing project teams and stakeholders.
Four-Year Degree Holders: Those with a four-year degree need to have accumulated a minimum of three years (36 months) of project management experience. Similar to secondary degree holders, this experience should encompass various aspects of project management, from initiation to closure.
Project Management Education
In addition to practical experience, PMI also emphasizes the importance of formal project management education. Candidates are required to complete 35 hours of project management education before applying for the PMP exam. This educational component aims to provide candidates with a comprehensive understanding of project management principles, methodologies, and best practices.

PMP Exam Preparation
Once the prerequisites have been met, candidates can proceed with exam preparation. The PMP certification exam assesses a candidate’s knowledge and understanding of project management concepts across five domains:

Initiating
Planning
Executing
Monitoring and Controlling
Closing
Candidates must thoroughly study the Project Management Body of Knowledge (PMBOK) Guide, which serves as the primary reference for the exam. Additionally, various PMP exam prep courses, study guides, and practice exams are available to help candidates prepare effectively.

Application Process
After completing the necessary education and gaining the required project management experience, candidates can submit their application for the PMP exam. The application requires detailed information about the candidate’s educational background, project management experience, and project management education.

Audit Process
Upon submission of the application, candidates may be randomly selected for an audit. During the audit process, candidates are required to provide documentation, such as project summaries and proof of project management education. It is essential to maintain accurate records of project management experience and education to expedite the audit process, if selected.

Exam Administration
Once the application is approved, candidates receive an authorization to schedule (ATS) email from PMI, allowing them to schedule their exam appointment. The PMP exam is administered at designated Prometric testing centers worldwide. It consists of 180 multiple-choice questions and has a duration of four hours.

Continuing Education
Obtaining PMP certification is not the end of the journey; it is the beginning of a commitment to continuous professional development. PMP credential holders are required to earn 60 professional development units (PDUs) every three years to maintain their certification. PDUs can be earned through various activities, such as attending workshops, webinars, and conferences, as well as engaging in project management-related activities.

In conclusion, meeting the prerequisites for PMP certification involves a blend of educational qualifications, project management experience, and formal education in project management. By fulfilling these requirements and successfully passing the PMP exam, individuals can demonstrate their proficiency and commitment to the field. Continuous learning and professional development are crucial for maintaining PMP certification and staying updated on evolving industry trends and practices, including undergoing PMP training.