Code Date City Venue Fees
RM022e 17 - 21 Dec 2018 Kuala Lumpur - Malaysia TBA $5,800 Register
RM022e 15 - 19 Jul 2019 London - UK TBA $5,950 Register
RM022e 16 - 20 Dec 2019 Kuala Lumpur - Malaysia TBA $5,950 Register
TBA* = To be Announced   |  All fees are exclusive of VAT
Home » Seminars » Risk Management » ILM® Endorsed Professional Project Analyst

Introduction

Large capital-intensive projects in all major industries require substantial - and mostly risky - investments in the acquisition, exploration, and subsequent operation and maintenance of new organizational assets.

The decision whether or not to invest in new capital projects, starts with critical decisions during the exploration phase of a new development, or the expansion of an existing field. The decision-making tools used to analyze project risk under conditions of uncertainty will help companies to determine the probability of success or loss, and will drive the decision to develop or abandon the well.

Of paramount importance therefore, is the systematic and comprehensive evaluation of potential investments, and the development of detailed cash-flow analyses to determine as accurately as possible, the expected returns to the organization under varying conditions of uncertainty over the expected productive life of the project.

This requires the development of sound, realistic, and carefully structured cash-flow projections, reflecting both the initial capital expenditures required for the acquisition of the asset, as well as the operational expenditures required for successful operation and maintenance of the asset over its anticipated productive life.

World-wide an alarming number of large capital projects fail to meet, or overrun their planned budgets, failing to realize both the financial and strategic goals of the organization - the very reason for their being undertaken in the first place - often with sizable increases in capital and operational expenditures, and with substantial financial losses to the organization. In the majority of cases, this is the inevitable consequence of failing to apply the tools and techniques of modern project decision-making, evaluation, financial planning, capital management and cash flow analysis when considering investment into new capital projects.

This GLOMACS training seminar will highlight:

  • Understanding the decision-making process
  • The power of the business case
  • Financial decision-making tools
  • The importance of Project Risk Management
  • How to identify risks during development and respond appropriately

Objectives

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

  • Understand how to manage organization's investments in large capital-intensive projects
  • Identify how to make and understand financial decisions and be able to present these back to the stakeholder community
  • Identify how to manage the cash flow of projects and manage and appraise the financial risk mitigation strategies
  • Understand proper cash-flow and sensitivity analyses to forecast and control potential future conditions
  • Define and manage project success factors and maximize the return on the capital invested in projects
  • Understand how to define financial strategies and incorporate these into project risk mitigation strategies

Training Methodology

Delegates will develop project management skills supported by financial analysis and cash flow management skills through formal and interactive learning methods. This GLOMACS programme includes individual exercises, team projects, applicable case studies and group discussions 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 back in the workplace.

Additionally, this GLOMACS training 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 asset-based financial engineering.

Organisational Impact

Application of sound project appraisal and quantification techniques will enable the organisation to forecast and control potential future conditions that might jeopardise the chances of project success, thereby maximizing the organisation's return on capital invested in projects. A trip through the life of a project allows us to understand how to forecast the future based on existing information.

Personal Impact

  • Participants will enhance their understanding of the time value of money, as well as learn how to use the basic tools of financial engineering such as Net Present Value, Internal Rate of Return, and Annual Worth calculations
  • Participants will learn how to evaluate and compare various alternative solutions over differing time horizons
  • Detailed explanations of the tools and techniques to determine and continuously monitor project feasibility, will enable participants to select projects with the best capital investment potential
  • Participants will learn how to identify, plan, structure and manage risks to the overall delivery of projects – a powerful forecasting and control element leading to project success

Who Should Attend?

This GLOMACS training seminar is designed for programme and project management professionals, project leaders, project engineers, cost engineers, and other senior project control and business services professionals who are responsible for or involved in evaluating projects and managing cash flow throughout the duration of project delivery.

Seminar Outline

Day 1

Fundamentals of Decision Analysis

  • What is Project Management Decision Analysis?
  • The Purpose of the Project Business Case
  • The Need for Systematic PM Decision Analysis
  • The Importance of Risk Management for Decisions
  • Risk and Uncertainty on Projects
  • Option Analysis
  • Identifying Key Decision-making Factors

Measures of Project Profitability

  • Fundamental Tools of Engineering Economics
  • Time Value of Money
  • Appraisal Methods - Discounted Cash Flow Projections
  • Time Equivalence

Day 2

Cash-Flow Modelling and Project Decision Analysis

  • Financial Modelling and Project Evaluation
  • Understanding the Project Context to Assist in Decision-making
  • Determine Stakeholders and their Level of Influence
  • Capture Requirements
  • Determine Scope of Work
  • Capital Expenditures (CAPEX)
  • Operating Expenditures (OPEX)

Rate of Return

  • Rate of Return Computations (IRR)
  • Determining the Internal Rate of Return (IRR)
  • The Risk of Not Understanding IRR

Day 3

The Cost of Capital

  • Estimating the Cost of Capital for a Project
  • Benefit-Cost Ratio (BCR)
  • Costs, Benefits, and Non-benefits
  • Identify Risks

Risk Modelling in practice

  • Forecasting Risk Impacts & Probabilities
  • Opportunity Costs and Sunk Costs
  • Determining the Risk Priorities
  • Assessing the Terminal (Salvage) Value of a Project
  • The Need for the Company Cash Flow

DAY 4

Decision Analysis: Expected Value Concept

  • Overview of the Risk Management Process
  • Risk Tolerance and Risk Prioritization
  • Risk Quantification and Expected Monetary Value (EMV) Concepts
  • Decisions under Certainty, Risk and Uncertainty
  • Basic Probability Concepts
  • Probability Applications: Program Evaluation Review Technique (PERT), Monte Carlo Analysis
  • Assessing the Probability of Completing a Project within the Desired Budget
  • Contingency

DAY 5

Decision Analysis: Decision Trees, Scenario, Sensitivity Analysis and Simulation

  • Decision Tree Analysis
  • Scenario Analysis
  • Sensitivity Analysis and Tornado Diagram
  • Integrated Practical Application
  • Presenting Decision Analysis

 

Assessment

Following attendance on this GLOMACS Professional Project Analyst training seminar, certification with ILM requires you to complete an assessment as to how you are going to apply the knowledge gained on the training to your area of responsibility.

You need to consider the modules and topics covered in the seminar when developing your assessment.

  • Identify a small project to undertake some form of Project Appraisal. An example might be something like considering purchasing a new photo-copying machine
  • Using an appropriate and relevant project appraisal method decide whether the project should proceed

Accreditation

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  • Quality Logo

REP logo, PMI & PMP are registered trademarks of Project Management Institute, Inc.

In Association With

Oxford Management Centre

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients

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VAT Announcement: The Government of UAE have introduced Value Added Tax (VAT) on goods and services from 01-January-2018. In compliance with the legislation issued by the UAE Government, we will be applying a 5% VAT on the fees for all our programs and services offered from January 2018 as applicable and stipulated in the FTA circulars.

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