The decision whether 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 the best idea is to go forward with. Given that projects and capital expenditures often consume a significant part of the finances of the organisation, 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.

Duration:       5 Days

Target Audience

This training course will particularly benefit:

• Project and Contracts Personnel in both public and private sectors
• Technical Specialists seeking broader perspectives of project planning and implementation.
• Government Officials, Ministries, Public Sector Agencies
• Project Financiers, Developers, Sponsors, Consultants
• Risk Management Personnel
• Project Management Professionals

Objectives

The training will enable participants 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.

Course Outline

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 Organisation Structures and Implications for Project Investment Decisions
• Using Subcontractors
• Key Issues Addressed by Project Appraisal
• Market Analysis
• Technical Analysis
• Environmental and Social Analysis
• Understanding Stakeholders

Defining Project Scope and Estimating Timeline 

• Project Life Cycle
• Project Initiation
• Uncertainty in Project Selection and Planning Decisions, Stage Gate Approach
• Project Trade-offs
• Understanding and Managing Project Scope
• Projecting Project Timeline

Evaluating Project Costs 

• Fundamentals of Budgeting and Cost-control
• Estimating Methods
• 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

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

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

Certification

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

Training Venue

• Training will be held at Macskills Training Centre. We also tailor-make the training upon request at different locations across the world.

Airport Pick Up and Accommodation

• Airport pick up and accommodation is arranged upon request.

Terms Of Payment

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent.