Project Appraisal and Risk Management

Introduction

This training course emphasizes awareness of how to appraise a project for viability, feasibility and project risk.

When any organisation wants a solution to a business problem, purpose or opportunity, it needs to plan and develop a project that will provide an effective method of implementing the solution. At specific points along the project lifecycle, the organisation will need to appraise the potential project to make sure the project is in-line with strategy, will achieve its objective and success criteria and the chosen solution will solve the required problem. In addition, the organisation must understand all risks to the organisation, as well as to the project. In this context, project appraisal serves as the major process of analysing, approving or terminating the project.

Project management has a heavy focus on risk management, the ability to seize opportunities, minimize threats and to optimize results. Risk management is often treated as a reactive process, or worse, not done at all. In this training course, a proactive approach to both sides of risk is explored: threats and opportunities. The approach is based on a clear understanding of both qualitative and quantitative approaches to risk management.

This GLOMACS training course will highlight:

• Understanding the business vehicles for change: Projects, Programmes and Portfolios
• Identifying the principles of the governance of project management
• Evaluate vision, mission and strategy to guide strategic project selection
• Examine the project mission
• Understand financial appraisal techniques
• Examine financial and economic decision making
• Use a practical, six-step process to manage project risk
• Examine threats and opportunities facing projects from both a top-down and bottom-up perspective
• Learn how to use risk management strategies to create an effective risk monitoring plan
• Understand project finance options

Objectives

This GLOMACS training course is designed to provide delegates with the skills and knowledge to successfully make decisions about projects throughout the project cycle. This means having a clear plan of what documents they should analyse and when, in decision making.

As such, delegates will:

• Understand projects from a strategic perspective
• Understand in the project lifecycle when gateways take place
• Understand the role of project steering group
• Understand the key contents of key documentation
• Be aware of project financing
• Understand, guide and be able to apply a Risk Management Process
• Identify procurement strategies and contracts
• Understand the benefits of Earned Value Management

Training Methodology

Participants to this training course will receive thorough training on the subjects covered by the training course outline. The instructor will utilise proven adult learning teaching and facilitation techniques with theory and skill training, traditional lectures, as well as hands-on exercises, group discussions, video and case studies. Whilst important learning will take place, having fun and receiving memorable learning is paramount.

Organisational Impact

The organisation will greatly benefit from individuals understanding how project management governance operates in a systematic approach to decision making and managing project risk by focusing on:

• How management make timely decisions
• Understanding project decision making tools
• Understanding the probability of completion within budget and time scales
• Risk management planning in line with project objectives
• People will understand the relationship between risk, issues, scope, cost & time

Personal Impact

Delegates will:

• Make timely decisions based on a variety of structured economic, quality, time-based thought processes
• Identify threats and opportunities and weigh up their relative value
• Learn how to rank risks based on the amount of exposure to the organisation