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Why Choose this Training Course?
The decision whether or not to invest a substantial amount in a new capital project is made with a lot of uncertainty. People involved in creating project proposals may have expertise in technical fields, but may also lack training to make a comprehensive analysis of whether their project really is the best idea to go forward with. Given that projects and capital expenditures often consume a significant part of the finances of the organization, it is vital that those involved in them can make high quality objective decisions about which proposals are likely to have the best results, before commitments to development work and substantial expenditures are made.
This Project Appraisal: Identification, Policy Analysis & Selection training course covers the policy evaluation and strategic project analysis and selection techniques that are a critical part of this decision-making process and considers the quantifiable elements of projects as well as the dependencies and risk factors relating to them. Specific financial and risk analysis methodologies are addressed in subsequent course.
This PetroKnowledge training course will highlight:
The importance of strategic approach to thorough project identification, definition, planning and appraisal
The elements and practical applications of various planning and appraisal methods
Contemporary concepts of policy issues, strategic context and project decision analysis
Introduction to an integrated project appraisal, including strategic needs analysis, cost and time estimates, technical, environmental and social evaluation to drive a justifiable value for money decision
Tools and techniques of dealing with risk and uncertainty in project decisions
Combination of a range of specialist appraisal tools into an integrated, robust project selection process
An appreciation of limitations of rational decision processes and strategies to address such limitations
What are the Goals?
This Project Appraisal: Identification, Policy Analysis & Selection training course will provide an insight into how contemporary organizations can meet the challenge to pick the best projects against a context of incomplete information, high uncertainty and limited resources.
This Project Appraisal: Identification, Policy Analysis & Selection training course will focus on the best tools to manage the project appraisal process: identifying, defining, planning and evaluating projects using a range of methodologies designed to maximize project value. It will provide an understanding of key inputs from these appraisal processes into the linked mechanisms of economic and financial assessment.
By the end of this Project Appraisal: Identification, Policy Analysis & Selection training course, participants will be able to:
Appreciate the strategic context and implications of project appraisal decisions
Describe and apply the key methodologies of project planning, estimating and appraisal
Appreciate the advantages and limitations of different planning, estimating and appraisal techniques
Understand the ways to make decisions under risk and uncertainty
Analyse the key policy and evaluation issues and develop an integrated project selection approach
Apply effective strategies to address typical errors and biases in project appraisal decisions
Who is this Training Course for?
This Project Appraisal: Identification, Policy Analysis & Selection training course is suitable to a wide range of professionals involved in the development, appraisal, implementation and management of projects. Those with previous experience in project appraisal will be able to share their expertise with others; the broad base of participants ensures that everyone benefits from a wide range of sector and policy perspectives.
This PetroKnowledge training course will particularly benefit:
Project and Contracts Personnel in both public and private sectors
Technical Specialists seeking broader perspectives of project planning & implementation
Government Officials, Ministries, Public Sector Agencies
This Project Appraisal: Identification, Policy Analysis & Selection training course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The daily workshops will be highly interactive and participative. This will involve regular discussions on key concept in project appraisal, the uses and limitations of various techniques, and how best to identify, evaluate, select and structure these high value undertakings.
Application of sound project appraisal techniques will enable the organization to forecast potential future conditions that might create strategic opportunities or jeopardize project success, thereby not only maximizing the organization's return on capital invested in projects, but also improving its reputation for delivering positive outcomes.
By the end of this Project Appraisal: Identification, Policy Analysis & Selection training course, your contribution to your organization will have been significantly enhanced. You will be able to:
Understand the benefits likely to be achieved through projects initiated after proper strategic appraisal and selection processes
Apply tools and techniques that deploy latest best practices in project definition, planning and appraisal
Discover how to evaluate and compare alternative/competing project investment options, and recommend projects with optimal potential value for further detailed financial and risk analysis
Effectively present and influence investment decisions
Day One: Strategic Context of Project Decision Analysis
What is Project Management Decision Analysis?
Project Management Maturity
Managing Programs and Portfolios
Strategic Planning and Policy Context
Typical Project Organization Structures and Implications for Project Investment Decisions
Key Issues Addressed by Project Appraisal
Environmental and Social Analysis
Day Two: Defining Project Scope and Estimating Timeline
Project Life Cycle
Uncertainty in Project Selection and Planning Decisions, Stage Gate Approach
Understanding and Managing Project Scope
Projecting Project Timeline
Day Three: Evaluating Project Costs
Fundamentals of Budgeting and Cost-control
Dealing with Uncertainty in Estimates
Resource Allocation and Cashflow Estimates
Value for Money Decisions
Important Cost Considerations: Whole of Life Costs, Cost of Quality and Uncertainty
The Contents of a Project Plan
Day Four: Project Analysis Under Risk And Uncertainty
Project Risk Considerations
Risk and Contingency Analysis
Thought Leadership on Risk and Uncertainty in Projects
Making Rational Strategic Choices
Selecting Projects to Meet Organizational Goals
Decisions under Certainty, Risk and Uncertainty
Day Five: Strategic Project Selection
Project Feasibility Studies – An integrated evaluation
Introduction to Scenario and Sensitivity Analysis - Decision Trees
Psychological Aspects of Investment Decisions: Before You Make That Big Decision
Influencing Investment Decisions
On successful completion of this training course, a PetroKnowledge Certificate will be
awarded to the delegates
In Association With
Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients