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ERSD Strategic Operation Plan - Coggle Diagram
ERSD Strategic Operation Plan
B. Customer & Stakeholder
Tier 1: Initiative: Stakeholder Engagement Program
Tier 2 (A) Improve Stakeholder Engagements (Internal and External)
Organize two stakeholder workshop
Produce comprehensive economic update for Governors, Parliament, and Other stakeholders
Coordinate and prepare assessments and reports for IMF A4 & staff missions
Stakeholder consultations for MPS and AR (Gizo, Noro/Munda, Auki, Honiara + 2 other provinces)
In house Refresher Trainings and MP Awareness program (MPC members and general staff)
Produce Monthly and Quarterly Publications
Produce infographics for MPS and economic publications
Conduct seminar presentations to schools and communities
Prepare reports and organize 4Ms
A. Financial & Stewardship
Tier 1. Maintain Price Stability via Sound and Credible Monetary Policy
Initiative: Monetary Policy Formulation and Operations Program
Tier 2: (A) Enhance Monetary Policy Formulation
Modernize MP Framework
Review of FPAS QPM and Satellite Models
Enhance MP Communication
Monetary Policy Communication Training
Develop Forecasting Monitoring Tools
Complete Centralized Database for MP-related Statistics
Organize at least 6 MPC meetings + MPC TSC meeting
Tier 2 (B) Enhance Monetary Policy Operations
Review and Develop MP Operational Framework and MP Instruments
Develop Liquidity Management and Forecasting Framework and Infrastructure for Interbank Market
Develop Renumeration Framework
Monetary Policy, Exchange Rate Policy, Liquidity Management and Forecasting Trainings
Tier 2 (C) Strengthen Macroeconomic Analysis and Forecasting Capacity
Produce MPS for MPC and Board Approval
Produce Macroeconomic Forecasting and Assessment on the Economy
Improve Inflation and Macroeconomic Forecasting Models
Review and Update GDP (E) Framework
Econometric Modelling and Forecasting Training
Monetary Policy Analysis and Forecasting Training
ERSD Econometric Refresher Trainings
C. Organization Capacity
Tier 1 (A) Improve Research, Data Governance and Analytics
Initiative: Research and Statistics Enhancement Program
Tier 2 (A) Strengthen Research Capacity
Produce joint research working papers for publications (APAEA, Griffith, Regional Central Banks, IMF).
Produce and present policy briefs/papers for MPC and Board's deliberation
Research Trainings - research writing and presentation skills (ADB-APAEA)
Host/Organize Annual Research Conference with ADB and APAEA
Conduct in-depth sectoral analysis (All sectors)
Develop JDs for new Research Analysts + Recruitments (2 for RU, 1 for MP)
Conduct Survey/field research to collect data
Eviews Licence for 3 new staff
Tier 2 (B) Strengthen Data Management
Develop Central Database (by sectors) for key sectoral indicators (Excel and EViews)
Data Analytics Training
Tier 2 (C) Improve Quality of Statistics and Dissemination
Timely Data Updates (M,Q,A)
Timely Dissemination to IMF & WB
Monetary Statistics to SolStar
Enhance Macroeconomic Framework Consistency across sectors
Statistical Trainings (GFS, BOP, RS, MB, MPR)
Statistical Dissemination (CBSI Website, IMF ICS, WB)
Statistical TA Missions in Country
Tier 1 (B) Enhance Strategic Management & Performance Monitoring
Initiative: Governance, monitoring and reporting program
Tier 2 (A) Strengthen Governance and Operations of the Department
Effectively Manage and Implement the Department's D2D operations
Develop, Review, Monitor & Evaluate ERSD Strategic Plan
Develop and Monitor ERSD Annual Budget
Conduct Ongoing Risk Assessment and Monitoring
Develop, Maintain and Supervise Operational Policies, Standards, Procedures, and Guidelines
Tier 2 (B) Improve Monitoring of Staff Performance and Resource Allocations
Develop Training Gap Assessment Framework, Monitoring and Implementation Plan
Conduct Staff Appraisal Performance Review
Staff Mentoring Program
Tier 2 (C) Improve Strategic Reporting
Timely Q KPI reporting to Executive
Review KPIs and Targets to align with BSC Framework
Tier 1 (B) Improve Leadership & Workforce Capability
Initiative: Leadership Strengthening Program
Tier 2 (A) Strengthen Leadership Capacity
BSC Training
KPI Training
Leadership Training
Mentorship Program