Strategic Decision-Making for Engineering Projects
Course Info
Code PO3-104
Duration 5 Days
Format Classroom
Course Summary
In today's fast-paced and complex business environment, management professionals often find themselves making 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 faced in project initiation, planning, execution, monitoring, and control.
By the end of this comprehensive 5-day course, participants will be able to:
- Understand the importance of critical thinking and rational decision-making in project management.
- Apply essential management tools and practices at strategic, corporate, and operational levels.
- 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.
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 the challenges of project management, 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.
Featured Courses
Holistique Training draws distinction as one of the pioneers in the field of training and professional development solutions since 2008.