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GLOSSARY

Lifecycle definition

Published by a LexisNexis Banking & Finance expert

What does Lifecycle mean?

The length of time that each item in the facility, such as plant machinery, fittings and equipment is required to last before being renewed or replaced.

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Project management: key documents—checklist

Project management: key documents—checklist This Checklist considers the key documents which will be necessary at the main action stages of the project lifecycle: • Project set up • Project planning • Project delivery • Project closure This Checklist can be read in conjunction with Checklist: Project management: key roles and governance—checklist. Project set up A project is 'set up' when a requirement or need for change has been identified. Approval to establish a project takes the form of a mandate from an appropriate senior member of the organisation, usually the budget-holder who will fund the project. Document(s) Detail Project mandate Setting out:• the initial business case/justification for the project• the purpose of the project• how the outputs will be used• the budget• timescales for the work A management team for the project is appointed at this stage and often takes the form of the project board or steering group, with a lead executive or sponsor appointed. A project manager and/or project support person may be appointed to assist with...

Key policies for an organisation—checklist

Key policies for an organisation—checklist This Checklist identifies typical key policies an organisation should consider implementing and provides links to Lexis+® UK Precedents you could use or adapt. Having effective policies and procedures in place will help an organisation to manage risk and will also help to demonstrate compliance in areas where having a policy is a regulatory requirement. NOTE: This Checklist is not intended to be an exhaustive list of every policy an organisation should have. Additional or alternative policies may be required to suit your organisation or to meet any industry or sector-specific regulatory requirements. General human resources policies Policy Aim of this policy Lexis+® UK Precedents you could use or adapt (available subject to subscription) ☐ Adoption leave policy To set out an organisation’s policy on adoption leave and pay. Policy—adoption leave ☐ Carer’s leave policy To set out an organisation’s policy for employees to take unpaid time off to provide or arrange care for a dependent with a long-term care need. Policy—carer’s leave ☐ Compassionate...

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Introduction to project finance

This Practice Note provides an introduction to project finance. It explains:•the concept of project finance, including the nature of typical projects, the key parties involved and the type of financing used•the typical documentation structure in a project finance transaction•the key risks involved in a project finance transaction and how those risks are typically allocated, and•the typical security package in a project finance transactionConcept of project financeProject finance was first used in the 1980s, principally by commercial banks to finance the construction of large-scale infrastructure projects in North America and Europe. Subsequently, project finance techniques were introduced further afield during the 1990s in the Middle East, Latin America and across Asia.A typical project finance transaction involves finance being provided to:•construct and/or operate a new asset or facility•acquire and/or refinance an existing asset or facility, or•exploit something tangible like oil or goldProject finance can also be used for an arrangement where a concession to run an existing asset is given in return for payment of a capital sum (for example, an airport).Projects...

Sustainable procurement—private sector

Sustainable procurement—private sector What is sustainable procurement? According to the UN Global Marketplace definition: procurement is sustainable when it integrates requirements, specifications and criteria that are compatible and in favour of the protection of the environment, social progress and supports economic development, namely by seeking resource efficiency, improving the quality of products and services and ultimately optimising costs. ISO 20400 on Sustainable Procurement, published in April 2017, reviewed and confirmed in 2023, defines sustainable procurement as ‘procurement that has the most positive environmental, social and economic impacts possible over the entire life cycle.’ For more information on ISO 20400, see Practice Note: The use of standards in sustainable procurement. Essentially, sustainable procurement involves embedding environmental, economic and social criteria into supply chain due diligence frameworks and contractual documents, with an aim of motivating suppliers to offer more sustainable products and services. It means looking at the impacts of the product and service on the environment and society over its entire lifecycle from creation to disposal. Sustainable procurement...

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First aid provision management lifecycle

First aid provision management lifecycle Note 1 For guidance see Practice Note: How to conduct a first aid needs assessment. See also Precedent: First aid needs assessment. Note 2 See Precedent: First aider role profile. Note 3 For guidance see Practice Note: Your first aid box/kit. See also Precedent: First aid box/kit contents

Contract audit meeting with director/head of function—agenda

Contract audit meeting with director/head of function—agenda 1 Attendees: [Insert name of director/head of function] [Insert name of in-house lawyer] [List any additional attendees] 2 Agenda Topic Required information Action owner Introduction Outline of purpose of meeting:—to understand all the different procurement processes used in the organisation;—to understand the ways in which contracts are managed across the organisation;—to understand how the legal department can best support the organisation’s contract management processes;—to enable the legal department to create an effective legal process to support the organisation’s contract management process. [Insert name of in-house lawyer] Types of goods/services procured List types of goods/services procured [Insert name of director/head of function] Contracting process used Contracting process workflow diagram [Insert name of director/head of function] Role of each individual in that department in the contract lifecycle process Roles and responsibilities workflow diagram [Insert name of director/head of function] Use made

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Life Sciences weekly highlights—15 May 2025

This week's edition of Life Sciences weekly highlights includes two analyses by Gill Jennings & Every LLP: one regarding the EU landscape of patent-eligible subject matter in AI healthcare and another on a judgment (Generics, Teva & Glenmark v AstraZeneca) that again demonstrates how UK patent law is diverging from the European Patent Office’s approach. Also included, are Law360 news reports on the call for the UK-US trade deal to address better pharma and IP and analysis of the Court of Appeal’s unanimous decision upholding the CMA’s initial fine against Advanz for breaking competition law through excessive pricing of liothyronine tablets to the NHS overruling the CAT’s reduction of the fines. Further stories included are news that international draft guidance establishing regulatory principles for AI’s use in pharmacovigilance was published, the ABPI warned in its response to the DHSC’s March 2025 consultation on increasing the statutory scheme payment rates for branded medicines that these rates along with VPAG payments could undermine UK pharmaceutical investment, the EMA and the HMA published...

EU Law weekly highlights—15 May 2025

This week's edition of EU Law weekly highlights includes analyses of a landmark ruling from the Court of Justice affirming the applicability of EU consumer protection law to contracts involving minors in the sports industry, the EU reforms of its design protection laws for the digital age, the subject matter of patent-eligibility within the domain of AI healthcare in Europe, the Court’s decision to fine TikTok’s data-to-China. In addition this week, the European Commission published frequently asked questions (FAQs) on the EU AI Act literacy requirements, launched a consultation on ongoing review of EU merger guidelines, revised its State aid rules to enhance public access to justice in environmental matters, announced the launch of the European Vulnerability Database, opened a call for evidence on its upcoming European Grids Package, and opened a consultation period for its planned EU Biotech Act proposal.

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