Strategic Decision-Making for Engineering Projects
Course Info
Day 5 of each course is reserved for a Q&A session, which may occur off-site. For 10-day courses, this also applies to day 10
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Course Summary
In today's fast-paced and complex business environment, management professionals often make critical decisions under pressure. This course is designed to equip participants with the necessary tools and techniques to make high-quality decisions amidst uncertainty. It delves into rational decision-making processes and essential management practices, addressing key challenges in project initiation, planning, execution, monitoring, and control.
Upon completion of this course, participants will be able to:
- Understand the importance of critical thinking and rational decision-making in project management.
- Apply essential strategic, corporate, and operational management tools and practices.
- Formulate and justify viable management solutions through rational analysis.
- Appreciate the various processes and knowledge areas involved in project management.
- Enhance decision quality through effective idea generation, problem-solving, and risk assessment.
- Develop skills in project initiation, planning, execution, and control.
- Apply qualitative and quantitative analysis techniques to typical project situations.
This course caters to a diverse audience, including:
- Project management professionals seeking to enhance their decision-making skills.
- Financial planning and forecasting specialists involved in project management.
- Internal auditors and management accountants engaged in project decision support roles.
- Professionals responsible for making or supporting project decisions and seeking to develop well-justified business solutions.
This course employs a comprehensive and interactive training methodology designed to blend theoretical knowledge with practical application. Participants will engage in various learning activities, including interactive lectures, hands-on exercises, and group discussions, to explore the principles of strategic decision-making. Real-world case studies and scenario-based tasks will provide opportunities to apply decision-making tools and techniques in realistic project settings. Role-playing exercises and simulation activities will help participants practice critical thinking, problem-solving, and risk assessment. Reflective practices and self-assessment tools will allow attendees to evaluate their decision-making processes and identify areas for improvement. This multifaceted approach ensures that participants leave with the skills and confidence to make high-quality decisions in complex project environments.
Course Content & Outline
Section 1: Foundations of Business Decision Making
- Understanding the fundamentals of decision-making processes and the factors influencing them.
- Differentiating between strategic, corporate, and operational decisions.
- Exploring project management challenges, project life cycles, and management principles.
- Basics of project selection, classification, and option analysis.
- Strategic planning techniques, including problem definition, risk management, and identifying business needs.
- Establishing project objectives, requirements, priorities, and constraints.
- Utilising analytical tools to facilitate effective decision-making.
Section 2: Project Planning and Execution
- Analysing and establishing project structures, networks, task durations, and budgets.
- Application of quantitative analysis techniques in project management.
- Resource scheduling, budgeting, and allocation.
- Preparing for project execution, monitoring progress, and implementing control measures.
- Introduction to Earned Value Analysis (EVA) for project performance evaluation.
- Decision-making strategies to address project creeps and delays.
Section 3: Project Completion and Evaluation
- Achieving successful project completion and handover.
- Evaluating project outcomes and assessing benefit realisation.
- Extracting valuable lessons from completed projects for future improvement.
- Continuous enhancement of project decision-making processes.
Certificate Description
Upon successful completion of this training course, delegates will be awarded a Holistique Training Certificate of Completion. For those who attend and complete the online training course, a Holistique Training e-Certificate will be provided.
Holistique Training Certificates are accredited by the British Assessment Council (BAC) and The CPD Certification Service (CPD), and are certified under ISO 9001, ISO 21001, and ISO 29993 standards.
CPD credits for this course are granted by our Certificates and will be reflected on the Holistique Training Certificate of Completion. In accordance with the standards of The CPD Certification Service, one CPD credit is awarded per hour of course attendance. A maximum of 50 CPD credits can be claimed for any single course we currently offer.
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