Project Appraisal and Risk Management

INTRODUCTION

Sound investment decision–making in the public and private sectors is key to ensuring the sustainable health & growth of the economy. In this GLOMACS Project Appraisal and Risk Management (PARM) training course, you will acquire knowledge & tools to conduct project appraisal.

If an important capital project does not achieve the financial and strategic goals of the promoter organisation, it can result in financial losses, waste of resources and impacts across wider reputational spheres. If that failure stems from not applying the tools and techniques of modern project appraisal, risk analysis or project selection, these are avoidable errors.

The decision whether or not to invest a substantial amount in a new capital project can be based on a range of project analysis tools and techniques, backed up by rigorous, systematic evaluation of alternative options, risk factors and funding solutions. The end result is improved decision making and increased effectiveness of projects.    

This GLOMACS training course will highlight:

• The importance of thorough project appraisal and selection
• The advantages, disadvantages and practical applications of various appraisal methods
• Key economic and financial analysis principles
• Modern concepts of risk assessment and techniques for risk management
• The increasingly important role of public-private partnership (PPP) solutions in delivering successful projects

MODULES

This training course is split into three modules:

MODULE I - Project Appraisal: Identification, Policy Analysis & Selection

MODULE II - Project Appraisal: Financial and Economic Factors

MODULE III - Project Risk Analysis & Management

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1,2 and 3 back-to-back as a 3-week training course.

Objectives

This Project Appraisal and Risk Management training course will provide an insight into how procurement organisations can meet the challenge to pick the best projects against a context of limited resources. It will take you through the key stages of project identification, appraisal and ranking / selection, plus expert guidance on risk assessment and management tools to improve project outcomes.

This Project Appraisal and Risk Management training course will focus on the best tools to manage the project appraisal process; identifying, and comparing significant evaluation methodologies ranging from social and developmental policies through environmental and stakeholder factors to the key mechanisms of economic and financial assessment; and systematically exploring the principal risk factors and other key issues that need to be considered in managing the planning of major, long-term, high-value projects. 

Exposure to the policy, analytical, economic and funding background for major projects will promote greater understanding of the critical role that project appraisal plays in project procurement.

This Project Appraisal and Risk Management training course will conclude with an in-depth review of the most widely used mechanism for major projects, the public-private partnership (PPP) contract; identifying, assessing and allocating the principal issues in adopting a PPP model.

By the end of this training course, participants will be able to:

• Describe the principal methods of project appraisal
• Appreciate the suitability of differing appraisal techniques for project types
• Analyse the principal policy, evaluation and economic issues common across major projects 
• Identify key risk factors and risk management solutions
• Recognise the benefits of the PPP project model

Training Methodology

This GLOMACS Project Appraisal and Risk Management training course will utilise 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 and risk management, the uses and limitations of various techniques, and how best to identify, evaluate, select and structure these high value undertakings.

Organisational Impact

Application of sound project appraisal and risk management techniques will enable the organisation to forecast potential future conditions that might create strategic opportunities or jeopardise project success, thereby not only maximizing the organisation's return on capital invested in projects, but also improving its reputation for delivering positive outcomes.

Personal Impact

By the end of this training course, if you have followed all the modules, your contribution to your organisation will have been significantly enhanced. You will be able to:

• Understand the benefits likely to be achieved through projects initiated after proper appraisal and selection processes
• Apply tools and techniques that deploy latest best practices in project appraisal
• Understand economic and financial project appraisal concepts and measures of value
• Discover how to evaluate and compare alternative/competing project investment options, and recommend projects with optimal potential benefits/value
• Understand how to assess and address project risk and uncertainty
• Develop robust structures to bring projects to market
• Maximise the prospects of successful supplier tendering and project delivery

WHO SHOULD ATTEND?

This Project Appraisal and Risk Management 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 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
• Project Financiers, Developers, Sponsors, Consultants
• Risk Management Personnels
• Project Management Professionals