R
-
Range Code Type
-
Region 221 - Muli regions allow Users to group project, people and organisations by a 2-coded process. By default in Australia the first character represents the State and the second the sub-region of the state. AAS - All Areas would apply to organisations that supply company wide services such as Insurance.
-
Registration Point 225 - In larger organisation with many offices where people move around, the use of registration point allows ready display /enquire to a location
-
Remittance Advice - The document sent out with the cheque showing payment details.
-
Report to (RPC Human Resources) - Who is the person responsible for day-to-day supervision.
-
Requestor RPC/Risk - The RPC of the person requesting the Risk item to be entered. *SYST is a special standard start-up Risk item.
-
Residual Risk - The remaining level of risk after risk treatment measures have been taken.
-
Responsibility & Authority - Particularly for people who need the organisational freedom and authority to do one or more of the following;
- initiate action to prevent or reduce the adverse effects of risk;
- control further treatment of risks until the level of risk becomes acceptable.
- identify and record any problems relating to the management of risk;
- initiate, recommend or provide solutions through designated channels; e) verify the implementation of solutions;
- communicate and consult internally and externally as appropriate.
-
Retention - The funds withheld from payment to a subcontractor to provide a guarantee of completion is included within the approved sum.
-
Retention Amount (AP) - (-ve to take +ve to hand back) In most Subcontracts, the concept of Retention is applied to the subcontract approved value. Typically this is 10% to 5% of the adjusted contract value and the value processed in Invoice Entry will be defaulted from the Subcontract Module.
-
Review Type - What is the Risk2Do for. What is hoped to be achieved.
-
Revised Contract Sum
Not a User maintainable field. It is the value of the original contract and approved variations.
As Head Contract variations are approved, the adjusted contract value is automatically updated. (This value is not displayed if your security on Security Code ??? is less than ???)
-
Risk - The chance of something happening that will have an impact upon objectives. It is measured in terms of consequences and likelihood.
-
Risk #/Risk2Do
Risk No.- A unique number issued by Muli for each Risk2do item. Has no real meaning, just issued sequentially across the whole database.Risk2Do - This is a multi-purpose management tool used to track the completion status and provisional expense of items (included in final forecast cost of projects).
They are categorised as:
- RED Urgent
- ORANGE Attention
- GREEN To be done
- GREY Done
and when summarised on the main menu, relates to the Risk2Do items to be completed by person logged in and when in Project Master Maintenance Item 17, relates to all Risk2Do item on the project.
A Muli Risk & Process Management tool to enable the tracking verification and reporting tool. The basis for the development of Final Forecast (cost at completion) allowing multiple items to be defined for an order/subcontract, even for a cost allocation where the contract has not been raised.
-
Risk Acceptance - An informed decision to accept the consequences and the likelihood of a particular risk.
-
Risk Analysis
A systematic use of available information to determine how often specified events may occur and the magnitude of their consequences.
The objectives of analysis are to separate the minor acceptable risk from the major risk, and to provide data to assist in the evaluation and treatment of risks.
-
Risk Assessment - The overall process of risk analysis and risk evaluation.
-
Risk Avoidance - An informed decision not to become involved in a risk situation.
-
Risk Control - That part of risk management which involves the implementation of policies, standards, procedures and physical changes to eliminate or minimise adverse risks.
-
Risk Engineering - The application of engineering principles and methods to risk management.
-
Risk Evaluation - Risk evaluation involves comparing the level or risk found during the analysis process with previously established risk criteria.
-
Risk Function Points - In software, there is a matrix that indicates the amount of work required to complete a process. It is intended that each organisation develops a matrix for measuring the work involved. Could be just Hours.
-
Risk Identification
The process of determining what can happen, why and how.
Comprehensive identification using a well-structured systematic process is critical. Identification should include all risks whether or not they are under the control of the organisation. How and why it can happen.
-
Risk Item Doer - The company or RPC responsible for completing the Risk2do activity.
-
Risk Management - Risk Management is the term applied to a logical and systematic method of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organisations to minimise losses and maximise opportunities.
Risk management is as much about identifying opportunities as avoiding or mitigating losses. Some may define Risk Management as simply the culture, process and structures that are directed towards the effective management of potential opportunities and adverse effects. -
Risk Management Policy - The organisation's executive shall define and document its policy for risk management, including objectives for, and its commitment to, risk management. Management will ensure that this policy is understood, implemented and maintained at all levels of the organisation.
-
Risk Management Process - The systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk.
-
Risk Mitigation - Action to reduce risk exposure to company accepted levels may occur due to risk transfer, risk reduction, risk or simply that the relevant risk exposure is passed.
-
Risk PayrollA - Facilities exist to enable individual timesheet lines to be linked to specific Risk2Do items, thus providing indicative hours and cost of the activity. PS The value shown is dependent on the charge-out code attached to the Labour Order.
-
Risk Provided Value - The amount of money (in local currency) that is to be included in the Cost Report generated Final Forecast Cost of the project.
The Risk provided value for original order is displayed and may be adjusted -
Risk Provisions - Within Muli, when an order or subcontract is let for a scope of works, then the total budget for the scope let should be applied to the order on (Risk) provisional values allocation for any activities/Risk items not fully included in the contract value. Multiple risk provisional items may exist for any order or subcontract.
-
Risk Reduction - A selective application of appropriate techniques and management principles to reduce either likelihood of an occurrence or its consequences, or both.
-
Risk Retention - Intentionally or unintentionally retaining the responsibility for loss, or financial burden of loss within the organisation.
-
Risk Transfer - Shifting the responsibility or burden for loss to another party through legislation, contract, insurance or other means. Risk transfer can also refer to shifting a physical risk or part thereof elsewhere.
-
Risk Treatment
Selection and implementation of appropriate options for dealing with risk.
Risk treatment involves identifying the range of options for treating risk, assessing those options, preparing risk treatment plans and implementing them.
- avoid the risk
- reduce the likelihood of the occurrence
- reduce the consequences
- transfer the risk
- retain the risk (risks can also be retained by default; ie when there is a failure to identify and/or appropriately transfer or otherwise treat risks.)
-
Risk Worst Case - This provides a management indicator of the worst Risk still in a project and the difference between Provided Risk and Worst Case Risk added into the “Project Worst Case Risk Value” .
-
Role 271
Depending on the business, there are a number of Roles required to ensure projects are completed to meet corporate goals. Each of these identified roles should be established in Code 271 and the relevant provider may be linked to the project. -
Role End Date - On projects a person may only fill a defined role for a period of time in which case the Start & End Dates should be maintained may be left blank.
-
Role Start Date
-
RPC for Accounts Processing - When an Order is raised, we normally assign the individual responsible for managing the Order so correspondence, accounts, etc are expeditiously routed to the correct person.
-
RPC Employee Benefits - In Invoice Entry, the field is used for a dual purpose:
- Where a purchased item is a direct benefit to an individual (say, FBT Fringe Benefit tax?), then the employee's RPC code would be inserted. Also used to track employee expenses.
- Where an employee is claiming expense reimbursement, by using this field and a supplier code of $EXP and allocation 5602 (employee expense reimbursement).
Remember, if the supplier code is $EXP, the payment will go to the employee. With any other code, the money goes to the supplier.
ABOUT MULI | PRIVACY | CONTACT | TERMS OF USE | LINKS | SITE MAP | 
