Decision Making in Projects

An Intensive 5-Day Online Training Course

Decision Making in Projects

Techniques Towards Successful Project Delivery

We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at info@petroknowledge.com

Why Choose this Training Course?

Why Choose this Training Course?

As today’s projects become increasingly complex, innovative and technologically demanding, the project managers and team members face daunting challenges. Project decision and strategy making allows the determination of the basic long-term goals and objectives of an enterprise. It is increasingly important that the correct project selection is made, that the benefits be clearly set out and understood at the outset and that the project is planned appropriately to support good execution and delivery.

Decision-making in any project is important, yet typical approaches can often seem distant or unapproachable for many. In this PetroKnowledge Decision-Making in Projects course, delegates are introduced to the concept of making ethical and applicable decisions. Considering a basic project framework and case-study, we will reflect on likely choices for each scenario.

Specific attention will be paid to highlighting how small decisions can lead to significant compromises in the future. Delegates will reflect on their likely responses and the framework/s that they use for decision making.

 “Most people spend more time and energy going around problems than in trying to solve them.”

-- Henry Ford

Making good, solid project decisions is extremely important task for organisations, but not an easy thing to do. This course offers an insight into decision-making procedures in a step-by-step manner. It intends to build, develop, and hone essential skills required to improve decision-making in a dynamic project workforce with the key areas of constraint being time, cost and scope having the ability to affect a project outcome. Any engineering project must consider what needs to be done to maintain those three constraints and associated risks.

This PetroKnowledge online training course will cover the following key areas:

  • Gain an insight into key decision-making tools for Strategic and Corporate decisions
  • Learn the importance of project classification
  • Understand the importance of integrating scope, time, resources and cost management
  • Learn problem-solving models to address decision-making situations in a systematic fashion
  • Understand the management process overview required for the project
  • Identify with and manage stakeholders and communication needs in projects
  • Understand the importance of accurately estimating and allocating project costs and resources
  • Identify risk sources and use qualitative and quantitative techniques to deal with uncertainty

What are the Goals?

What are the Goals?

At the end of this training course, you will learn to:

  • Identify with relevant stakeholders and communication needs in projects
  • Understand key contextual requirements within the project environment
  • Learn how to use appropriate decision-making tools & techniques that have been tried and tested by industry experts
  • Accurately estimate and allocate project costs and associated benefits through a variety of tools
  • Manage interpersonal and organisational dynamics to facilitate agreement and clarity of action

Who is this Training Course for?

Who is this Training Course For?

This training course is suitable to a wide range of professionals but will greatly benefit:

  • Senior management decision makers
  • Commercial management
  • Financial management
  • Project professionals who hold responsibility for engineering projects and costs in client and contracting companies

The audience should be positioned to pursue and maintain competitive operational and business efficiency, revenue, maximisation, and profitability for the organisation.

How will this Training Course be Presented?

How will this Training Course be Presented?

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Daily Agenda

Day One: Fundamentals of Project Management

  • Projects Decision-Making Opportunities
  • Project Life Cycles and Stage Gates

Project Context in the Oil & Gas Industry

  • Appreciation of Macro-environment in Relation to Projects
  • Understand Who Stakeholders are and How they may impact upon the project
  • Project Preparation & Planning Responsibilities

Day Two: Project Leadership Skills

  • Learn what decision leadership is?
  • Understand the Project Organisation and How decision-making differs
  • Project Manager – Unique Requirements
  • Leadership Styles
  • Build an executive leadership style that creates trust, sets a clear vision, and guides the team toward greater performance
  • Consider implications of unclear roles and responsibilities to project success

Day Three: Collaborative Decision-Making

  • General Decision-making Concepts
  • Types of Decision Models
  • The Decision-making Process

Using Risk to Assist in Decision-Making

  • Planning and Identifying Risk
  • Analysing the Key Areas of the Project
  • Measuring and Managing Risk
  • Evidence Based Decision Making

Day Four: Multi-Criteria Decision-Making

  • Multi-criteria Scoring Model
  • Analytic Hierarchy Process

How to Display a Decision Problem?

  • Decision Tables
  • Decision Trees
  • Influence Diagrams
  • Monte-Carlo Simulations

Day Five: How to Evaluate a Decision?

  • Review Decisions Made
  • Use Root-cause Models to Evaluate Decisions
  • Evaluate Effectiveness of Decision
  • Consider the Way Forward
  • Capture Lessons-learned

Certificate

  • On successful completion of this online training course, a PetroKnowledge E-Certificate will be awarded to the delegates

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 56 222 7795 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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