Maximising your project return while minimising risk

 

Objectives of this workshop

The objectives of this practical one-day workshop will be to develop the knowledge, understanding and skills of the delegates, to create better projects. The course will look at two key areas: how to develop a robust
business case for a project and developing a risk management plan to ensure it will be successful.

 

Who is the workshop for?

Managers and staff who initiate, develop, and manage projects. The training is applicable to:

• team leaders
• team managers
• team members

 

Outline of the course

Introduction to business cases

• What is a business case?
• Role of the business case in project creation and review
• Characteristics of projects
• Using the SOCAA tool to assess projects
• Getting project signoff

Fittting projects into the strategy within the organisation

• How do your projects meet the goals of your organisation?
• Critical success factors

Appraisal of the options

• Why choose to create any project?
• Choosing which project to implement
• Making the right choices from different delivery methods
• In house or external delivery ?
• Using external suppliers to facilitate your projects
• Class exercise

Commercial aspects

• What are the best project terms
• Optimum project duration
• Staffing issues

Project Affordability

• Budgeting for projects
• Financial and non-financial success measurements
• Putting a financial value on ‘soft’ (non-financial) benefits
• Choosing an appropriate financial model
• Analysing cash flows
• Discounting future cash flows – the ‘time value of money’ (DCF analysis)
• Looking for the break-even point
• When does the project pay back?
• Calculating the Net Present Value (NPV)
• What is the Return on the investment?
• Financial ratios
• Assessing the return on project investment

Project Achievability

• Governance of projects
• Taking a project management approach
• Typical Project management techniques
• Project review mechanisms
• Project reporting
• Contingency planning
• Class exercise

Managing risk

• Risk and the commercial world
• Identifying risks
• Risk and reward- twin organisational challenges
• Probability and impact of the major project risks?
• Building a probability and impact matrix
• Carrying out ‘what if?’ scenarios
• Which variables have the greatest impact?
• Analysing and Mitigating risk
• Risk management tools-the risk register
• Creating and reviewing the risk register

 

Methodology

The workshop will include theory, discussion, checklists, case studies, role plays, class exercises, examples, presentations, tools, tips, traps and techniques. Some interactive parts of the workshop will be filmed on video, the output reviewed constructively and feedback given.

 

Outcome of the day

By the end of the day participants will have a good understanding of how to prepare a robust business case in order to achieve a business approval. They will also have carried out a risk management analysis relevant to their own sphere of operation. They will have practised the use of these tools and presented outline business cases and risk management plans to their colleagues. They will leave the course with a set of practical tools they can apply when they return to their offices to create and manage projects.