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
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
MODULE I - Project Appraisal: Identification, Policy Analysis & Selection
DAY 1
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
DAY 2
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
DAY 3
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
DAY 4
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 5
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
MODULE II - Project Appraisal: Financial and Economic Factors
DAY 6
Source of Finance
Potential Funding Sources
Capital Markets in Financing Projects
Long Term Source of Finance
Short Term Source of Finance
Evaluation of the Types of Finance
Equity Finance
Debt Finance
The Cost of Weighted Average Cost of Capital (WACC)
Capital Asset Pricing Model (CAPM)
Different Measures of Risks
DAY 7
Investment Decisions
The Most Sppropriate Valuation Techniques for Different Economic Sectors
Applying Time-adjusted Measures
Social Cost-benefit Analysis in Project Appraisal
Net Present Value (NPV), Internal Rate of Return (IRR) and Payback method
Decision making using EVA and NPV
Modified Internal Rate of Return (MIRR)
Application of Real Option to Project Valuations
Integration of Financial, Economic and Social Appraisals to Investment Decisions
Impact of Inflation on Financial Viability and Risks
Foreign Exchange Risks
Financial and Economic Analysis for Selecting a High Quality Projects
Sensitivity Analysis, Scenario Analysis and Simulation
DAY 8
Managing, Controlling and Modelling Cash flow
Development of Cash Flow Statement
Cash vs. Profit
The Cash Conversion Cycle
Calculating and Managing the Cash Flow Cycle
Cash Flow Ratios
Working Capital
The Cost of Maintaining Working Capital
Maintaining the Optimum Level of Working Capital
Working Investment Ratios
Preparing a Monthly Cash Flow Forecast
DAY 9
The Challenge of Financial Economic Decision-Making
The Practice of Financial / Economic Analysis
The Value-creating Company
Corporate Value and Shareholder Value
A Dynamic Perspective of Business
The Agency Problem and Corporate Governance
What information and data to use?
The Nature of Financial Statements
The Context of Financial Analysis and Decision-making
DAY 10
Revisit the Key Concepts in Decision Making
Course Summary and Checklists
Cash Budgets & Capital Budgets reviewed
Financial Skills and Further Development
Open Forum
Course Review
MODULE III - Project Risk Analysis & Management
DAY 11
Project Structure Selection
Planning Structures for Delivering Projects
Defining a Risk Tolerance Baseline for All Activity, plus Incremental Procedures for High-value, Complex Projects
Scaling Risk Management to the Size and Complexity of a Programme or Project
Project Structures to Address Risks from the Points-of-view of:
Sponsors
Lenders
Investors
Contractors
Concession Contract Models
Foreign Direct Investments
Joint Ventures
Service Outsourcings
Keeping Structures & Financing Flexible to Accommodate Changes
DAY 12
Risk Identification & Assessment
Risk Identification
Developing a Risk Matrix with Risk Ratings based on Probability and Impact
Types of Risk
Hazard Risks
Financial (business) Risks
Operational (technical) Risks
Strategic Risks
Internal & Finance Risks
External Risks
Risk Assessment / Analysis
Sensitivity Analysis – (“what if analysis”)
Identifying Risks
Identifying the Impacts of Risk
Estimating the Likelihood of Risks Occurring
Estimate the Cost of Risk
Risk Response / Mitigation Planning
Monitoring and Communicating Risk
DAY 13
Risk Management
Objective of Project Risk Management
Tools and Techniques for Risk Management
Avoidance – modifying a project plan
Transference – shifting consequences and responsibilities
Mitigation – preventative action
Acceptance – accepting risk outcomes
Limitations of Risk Management
Use of Insurance & External / 3rd Party Mechanisms in Risk Strategies
Constructing a Risk-adjusted Project Cost Model
Using Risk Factors to Test Affordability
The Roles of Incentives, Sanctions and Risk Sharing
Using Project Design, Financial and Organisational Arrangements as Risk Management Tools
DAY 14
The PPP Contract Model
The General Principles of How Project Appraisal, Selection, Design and Risk Management Ensure More Measurable, Controllable, Successful Projects
What are Public-Private Partnerships (PPPs)?
The Dynamics of PPPs & How Key Risk Areas can be Managed
Use of PPPs in Different Sectors and Services
The Roles and Relationships of Public and Private Parties
Principal Ways PPP Contracts Can Be Properly Managed
What are the Lessons for Adopting and/or Adapting PPP Models Across Future Projects?
DAY 15
Project Funding Solutions
Embedding Risk Management into Normal Operations
Allotting Appropriate Resources for Risk Management Activities
Integrating Risk Management into Project Protocols and Controls
Risk Management Monitoring and Control throughout the Project Lifecycle to Improve and Guide Risk Management Processes
Evaluating Effectiveness of Risk Response Actions (and making adjustments within the project cycle)
Summaries of Conclusions and Group Discussions
Certificates
On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates
Providers and Associations
Endorsed Education Provider
A PMI registered mark
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
In Association With
Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.
A Project Management Institute, Inc. (PMI)® Approved Training Course Project Appraisal and Risk Management
Drivers and Methodologies towards Project Success
Upcoming Dates
Code
Date
Venue
Fees
PM071
09 - 27 Oct 2023
New York - USA
$20,850
PM071
06 - 24 Nov 2023
Dubai - UAE
$17,850
PM071
07 - 25 Oct 2024
New York - USA
$20,850
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
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 two-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
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