Course Schedule

The 10-day Strategic Project Assessment, Risk Analysis & Management Program

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Code Course Title Venue Date Fees Join Now
PM18 The 10-day Strategic Project Assessment, Risk Analysis & Management Program Dubai - UAE, 20190630 30 Jun - 11 Jul 2019 $7,500 Register
PM18 The 10-day Strategic Project Assessment, Risk Analysis & Management Program New York - USA, 20191111 11 - 22 Nov 2019 $11,900 Register

COURSE OVERVIEW

The effective management of large, complicated, concurrent projects requires managerial skills, knowledge, and tools that extend beyond those required for the management of single projects.

Project and program managers interface to a much larger degree with the strategic business goals, policies and objectives of the company, and are typically involved in strategic business and financial decisions affecting the overall success and efficiency of the organization. The processes of Strategic Project Assessment: Identification, Policy Analysis & Selection are critical to the successful selection and management of projects or programs undertaken to achieve the strategic goals of the organization.

Effective Project Risk Analysis and Management lies at the very core of successful project delivery. Project failure results in the failure to achieve the organization’s financial and strategic objectives, often with sizable increases in project cost and with substantial financial losses to the organization. Accordingly, the systematic identification, quantification and analysis of project risks, as well as the development of detailed risk treatment strategies to mitigate all relevant risks that threaten the intended outcomes of the project, are essential to the achievement of project success.

This 10-day training programme on Strategic Project Assessment, Risk Analysis & Management Program will enable delegates to apply the tools and techniques of modern project and program management effectively, and to deal with a wide variety of risks and uncertainties related to the project.

IMPORTANT FEATURES

The important features of the 10-day Strategic Project Assessment, Risk Analysis & Management Program Program are:

  • Understand the corporate strategic processes and goals that determine project selection
  • Establish the necessary structures and systems for program and project management
  • Identify the most appropriate project portfolios in harmony with corporate strategy
  • Select the best contractors, suppliers and consultants for your project
  • Manage and control project progress and cost outcome on a continuous basis
  • Identify risk categories related to your organization’s operations and projects
  • Identify project-specific risks and uncertainties related to design, planning, operation and maintenance
  • Use a proven set of skills and techniques for the quantification, analysis and mitigation of identified risks, and
  • Develop a systematic and dynamic risk management plan

LEARNING OBJECTIVES

By attending the 10-day Strategic Project Assessment, Risk Analysis & Management Program Program, delegates will learn how to:

  • Identify appropriate investment projects based on the overall corporate strategy, strategic goals and commercial policies of the organization
  • Evaluate individual projects based on technical criteria to determine their technical viability
  • Understand how project programs, systems and structures provide an integrated mechanism for the process of project selection and assessment
  • Determine the most appropriate contracting approach to ensure that corporate goals are realized
  • Apply the best source selection techniques for a given project or program
  • Use accurate progress and cost control methods to ensure project delivery according to the contractual baseline
  • Identify project-specific risks and uncertainties related to the various project phases, including the project schedule
  • Use qualitative and quantitative methods to assess the exposure of the project to particular risks in real and measurable terms
  • Prioritize and rank risks in order to deal with them systematically
  • Apply the concept of expected monetary value to develop adequate contingency levels
  • Employ the six primary risk treatment strategies to develop pro-active responses to potential risks
  • Apply a dynamic risk mitigation process to reduce the risk profile in order to comply with organizational thresholds

TARGET AUDIENCE

The Strategic Project Assessment, Risk Analysis & Management Program is designed for all professionals responsible for or involved in Project Assessment & Risk management, such as;

  • Project and program managers
  • Project planners and scheduling staff
  • Project risk management staff
  • Project leaders & project engineers
  • Production and operations engineers
  • Project planners and risk managers
  • Other project professionals

TRAINING METHODOLOGY

Delegates on the 10-day Strategic Project Assessment, Risk Analysis & Management Program will develop advanced project assessment & risk analysis and management skills and knowledge through formal and interactive learning methods. The training includes individual exercises, team projects, applicable case studies, group discussions and video material that will bring to life the skills acquired throughout the course.

The material has been designed to enable delegates to apply all of the material with immediate effect at the office. Additionally, the seminar does not assume prior knowledge of the topics covered in the course. New concepts and tools are introduced gradually to enable delegates to progress from the fundamental to the advanced concepts of project assessment and risk management.

Pre & Post course assessments will be used to measure the effectiveness of this training.

COURSE CONTENTS

DAY 1 –Strategic Project Assessment & Selection

  • Description:

    : Identification of appropriate investment projects is based on the overall corporate strategy, strategic goals and commercial policies of the organization. It is vital that the process of project identification be closely aligned with corporate strategies, goals and policies.

  • KeyTopics:

    • Corporate Strategy and Organizational Projects
    • Setting the Stage for Project Alignment with Strategy
    • Developing a Strategic Management Plan
      • The Strategic Management Process
    • Environmental Analysis and Portfolio Development
      • The Aggregate Strategic Project Plan
    • Objective Directed PM Process
    • Project Management Definitions
      • Project Classification
      • Characteristics of a Project
      • The Project Life Cycle
      • Project Development Life Cycle
    • The Project Process Model
    • Knowledge Areas & Project Process Flow
    • The Triple Constraint

    Technical Evaluation Analysis

     

    Description: Based on the portfolio of projects identified against the requirements of the strategic corporate strategy and goals, it becomes imperative to evaluate individual projects based on technical criteria to determine their technical viability.

     

    • Key issues in project analysis
      • Market analysis – supply and demand
      • Technical analysis – technical viability
      • Financial analysis – financial viability
      • Economic analysis – social cost-benefit
      • Environmental analysis
      • Risk analysis – levels of risk associated with the project
    • Analysis of technical and engineering aspects
      • Technical viability
      • Location
      • Process, equipment, methods, procedures
      • Size – optimal scale of operation
    • Environmental analysis
      • Consideration on environmental aspects
      • Applicable regulations and specifications
      • Due diligence

DAY 2 – Project Program Structures, Systems and Processes

  • Description:

    : Project Programs, Systems and Structures provide an integrated mechanism for the process of project selection and assessment based on (1) corporate strategies, goals and policies, and (2) financial feasibility and technical viability. Day Two examines the requirements for project program management within the organization as a whole, which is an essential element of project integration at the strategic level

  • KeyTopics:

    • Developing Strategic Business Criteria for Project Evaluation
    • Linking Business Strategy and Multiple Projects
      • Establishing Weighted Scoring Models
      • Integrated Enterprise Project Planning and Management Cycle (IPPMC)
    • Program Management and Portfolio Management
    • Program Management and Project Management
    • Program Management in Organisational Planning
    • Program Governance
    • The Program Life-Cycle
      • Benefits Management
      • Stakeholder Management
      • Program Governance through Phase-Gate Reviews
    • Program Management Life-Cycle Phases
      • Pre-Program Set Up
      • Program Set Up
      • Program Management and Technical Infrastructure
      • Program Close-Out
    • Development of Corporate Structures for Program Management
    • Integration of Functional Departments

DAY 3 –Project Contract Types & Compensation Arrangements

  • Description:

    Once specific projects and programs have been identified, an important element of the overall decision-making process is to determine the most appropriate contracting approach to ensure that corporate goals are realized and risk eliminated. Day Three explains the three primary contracting approaches, including the various types of contracts based on these approaches.

  • KeyTopics:

    • Fixed Price contracts
      • Firm fixed price
      • Fixed price with economic price adjustment
      • Unit price contracts
      • Unit price with escalation
      • Fixed price with redetermination
      • Time and material
    • Cost-Plus contracts
      • Cost sharing
      • Cost reimbursement
      • Cost plus award fee
      • Cost plus fixed fee
      • Cost plus percentage of cost
    • Incentive contracts
      • Fixed Price Incentive
      • Cost Plus Incentive

DAY 4 -Sourcing and Selecting Suppliers, Consultants and Contractors

  • Description:

    The next step in the process of project identification is the careful and deliberate selection of consultants, suppliers and contractors to ensure that only those capable of meeting the strategic, tactical and technical objectives of the organization, in the shortest possible time, at the highest technical quality, and at the most economical cost to the organization, are engaged in providing these critical services to the organization. Day Four looks at the most appropriate source selection techniques for a given project or program.

  • KeyTopics:

    • The Source Selection Method
      • Selection and Management Actions
      • Evaluation Criteria
      • Contractor Evaluation – Plant and Site Surveys
    • Two-step Selection Process
      • Step 1 – Qualifications-Based Selection of Design Professional
      • Step 2 – Clarification of Engineering Services to be Provided
    • Pre-Award Stage
      • Bid/Enquiry Planning
      • Bid Package Development
    • Award Stage
      • Competitive Bids
      • Competitive Proposals and Negotiations
      • Non-Competitive Methods
      • Bid Evaluation
    • Post-Award Stage
      • Contract Execution & Administration

DAY 5 – Project Execution Management, Control and Reporting

  • Description:

    Estimation of project costs is based on identified activities and allocated resources. This provides the basis for accurate progress and cost control against the contractual baseline, which is used to analyze deviations and make accurate projections of final cost and completion dates. Day Five explains the internationally-recognized process of Earned Value Management to control and manage project execution.

  • KeyTopics:

    • Bid Documents Development
    • Project Resource Table & Budget
    • Project Cost Baseline Management
    • Project Management Reporting
    • Earned Value Control Process
    • Progress Control Charts – Trend Analysis
    • Schedule and Cost Variance Forecasting
      • Schedule Variance (SV)
      • Cost Variance (CV)
      • Schedule Performance Index (SPI)
      • SPI Run Chart
      • Cost Performance Index (CPI)
      • CPI Run Chart
    • Estimated Cost at Completion
    • Estimated Duration at Completion
    • Progress Tracking and Monitoring

DAY 6 – Fundamental Principles of Project Risk Management

  • Description:

    A review of the fundamental principles of Project Risk Management.

  • KeyTopics:

    • Definitions – What is risk?
    • The triple constraint & stakeholder analysis
    • Risk management processes & model
      • Establish risk context and criteria
      • Identify the risk events, risk triggers (causes), and risk receptors (effects)
      • Analyze risk events by qualitative or quantitative methods
      • Formulate risk treatment strategies and analyze the effect of each on the risk cost
      • Implement the selected risk strategies
    • Identifying potential risk events
    • Techniques for identifying risk events
    • Identifying triggers, indicators and receptors
    • Risk scenario description

DAY 7 – Project Risk Analysis, Assessment & Quantification

  • Description:

    Various methods used for qualitative and semi-quantitative risk analysis.

  • KeyTopics:

    • Qualitative and semi-quantitative risk analysis techniques
    • Risk matrices and risk ranking
    • Techniques for identifying risk events
      • Regular expert panel meetings
      • Brainstorming
      • Delphi technique
      • Nominal group technique (NGT)
      • Crawford slip
      • Fishbone Diagramming
    • Qualitative descriptions of probability
    • Qualitative descriptions of impact
    • Qualitative risk analysis matrix
    • Risk response strategies
    • Progressive risk management plan development

DAY 8 – Project Risk Analysis and Outcomes Modelling

  • Description:

    More advanced techniques for quantitative risk analysis by estimating probability and impact.

  • KeyTopics:

    • Detailed risk quantification and prioritization
    • Risk characteristics
    • Risk matrices and risk ranking
      • Estimating probability
      • Estimating impact
      • Weighted probability & impact rating
    • Risk ranking
    • Progressive risk management plan development
    • Expected Monetary Value concepts (EMV)
    • Risk quantification and EMV
    • Decisions under conditions of uncertainty

DAY 9 – Project Risk Strategy Development

  • Description:

    Explores the development of risk mitigation strategies aimed at minimizing the potential impact of risk events on the project

  • KeyTopics:

    • Risk Quantification and Expected Monetary Value
      • Best case scenario
      • Base case scenario
      • Worst case scenario
    • Decisions under conditions of uncertainty
    • Risk treatment objectives
    • Procedure for risk strategy development
    • Risk response development matrix
    • Risk strategy development and implementation
    • Forecasting annual project cash flows over the economic life
    • Financial scenario planning and risk mitigation

DAY 10 – Project Risk Scenario Planning & Mitigation

  • Description:

    The relationship between project risk and the financial feasibility of the investment.

  • KeyTopics:

    • Advanced scenario planning
    • Advanced risk mitigation strategies
    • Procedure for risk strategy development
    • Risk response strategies
      • Risk acceptance
      • Risk prevention
      • Risk avoidance
      • Risk mitigation
    • Risk transfer & contracting
    • Implementing mitigation strategies
    • Multiple option decisions
    • Combining risk and cash flow analyses

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